Does bitcoin pose a threat to banks?

[Google+]

Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?

I think banks will never disappear if the bank could follow the changing times because it is currently in the presence of such digital currency bitcoin honestly people don't need to use the bank to store the assets owned, save assets can be proven more bitcoin wallet gives you many advantages and without any monthly fees.

[supermam]

I think banks are not afraid of this news because banks had already establish their status iin the field.of investing and people got used to it and people used banks in their transactions and other ways of paying bills and others.

[BIRC]

Personally I believe bitcoin(or other coins) will threat "traditional" bank.

The original purpose of bitcoin is "decentralization", its target is current financial system and institution of the world. So of course it will be a threat to banks.

[funyjackson]

in the short term , bitcoin will exist with banks . the demand for money is diversification . some people prefer the central currency of government endorsement . but decentralised currency is a trend . and banks are struggling ,it will disappear in the future .

[CAPTEZECC]

I believe bitcoin poses a strong threat to the bank because first and foremost the banking industry and it's system are faulty.  There is something wrong with the banking system which crypto currency is correcting.

[Nivir]

These decentralized currencies are surely a big threat to the current banking industry. Kodak and other companies before went bankrupt because they were not able to successfully raced with change. But these banks are the most powerful and influential groups in the world for hundreds of years already so they will not be easily beaten.

[gabbie2010]

Blockchain technology as a backbone of bitcoin poses a threat to banks in many areas, e.g transactions:  transfer of funds with bitcoin is swift and fast without banking interference usually western union money transfer, moneygram are used by banks for transfer of funds.
More so, bitcoin can be save or hodl in a wallet rather saving  as a fiat in a bank isn't that a threat to banks?
Lost of banking charges which serves as sources of revenues to the banks is fast dwindling courtesy of bitcoin.

[umbara ardian]

Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?

Yes you are right bitcoin could make some banks went bankrupt because it was certainly in the future as the growing age of the bitcoin will rule the world economic conditions if the bank could not follow and accept the use of the bitcoin or cryptocurrency in the bank then it surely will be many clients who left the bank.

[dvillier]

I don't think Bitcoin or any crypto is by then yet. Possibly in a couple of decades, yet excessively few individuals acknowledge it and just a couple of individuals are utilizing it in contrast with the total populace. I am certain that digital money, in the event that it gets huge enough,would have the capacity to convey some harm to banks on the grounds that the profits could wind up being more grounded than what banks can offer. Likewise, banks offer centralization. On the off chance that decentralization is the future, at that point it bodes well that banks are would be frightful.

[Clearstream]

I don't think the bank will disappear . it's going to exist with bitcoin . they all have their own strengths and weaknesses . put your money in the bank , it's safe . you don't have to worry about the private key being stolen . let banks and encryption compete fiercely , and they'll all get better

[Webberson]

Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?

Kodak and disc are still in existence and in use, though, the above mentioned areas where quite affected as a result of those innovations, which in turn had minimized the usage of those items. The bank may not likely be affected in such a way, as the sector could adopt the system.

[kdiag]

I think bitcoin is a threat to banks, because there is an outflow of banking services, such as depositing or transferring, banks should be interested in working with crypto to do business

[coynedterm]

Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?

I don't think that any bank system will go down in future in any way because the main thing is that if cryptourrency are playing a big role for the earnings of the bitcoiners than at another side we have bank system as a part of cryptourrency to use bitcoin like Crypto. To handle perfectly .
As we can see that most of the times when people feeling Panic to have Thier hodl then they sell Thier asset only for the bank money , so here it is directly showing that people have more trust with the banking system than with cryptourrency .
Cryptourrency in the present time are just mode of the transfer of your money from one person to another without the involvement of the third party .
So here bank are having much better future like equally that Cryptourrency market have .

[alvinmtp]

I guess somehow bitcoin pose a threat to small banks but in the major banks I guess they are not afraid with bitcoin. Small banks maybe threat by bitcoin because they can be replace by bitcoin and its wallets but in the major banks which has a much stable industry they will not be threat because they have a stable clients. Surely the major banks are just waiting for bitcoin to come to them and talk on how major bank can help bitcoin or we can say how bitcoin can corporate their business with those banks. Well the good benefits of all is what we are looking forward let us not think about a negative effects between bitcoin and the banks.

[batang_bitcoin]

I don't think that the bank will disappear but with your comparison about the photo industry and the disc era where it has been obsolete.  The threat is real for the banks about bitcoin and this is why there are some that are taking actions already. The money that should go to the bank are opposing it's way and goes through bitcoin and this will make the bankers to pissed due to the revenue that's possible to go to them but later on thanks to bitcoin and it's gone for them.

[CryptoCCknow]

I reckon that it is big shot to the banks. As we all know, money begins to travel around the world with less barriers and higher speeds, we are in the internet world where money can move like information does today. And the bitcoin travel is based on decentralization and blockchain, but the banks rely on the institutions they built, of which operation and safety rely on the security the financials made. it could be risky.

[Spain2000]

The situation is changed with the coming of online music and video industry and with this if we compare bitcoin and crypto currencies with banks i think banking industry is some thing different from online money and for it we have to use banks for depositing paper money and to use locker facility so we can change the priorities and digital money is different from banking operations and it's importance.

[marjon]

That is so called "Digital revolution", the world is ever changing and we need to ride to its flow. Otherwise, we lose something just as mentioned to the post. Virtual currency by far took the lead in the world of modernization and technology. However, at this stage, it has no power yet to dominate over those big financial industry after getting manipulated.

[Btcvilla]

Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?

I think not, what you say about kodak and music online is real. but it does not become very relevant in the comparison of bitcoin and traditional banks. because after all we are very aware in the life of banking is still very important and useful in administering administrative matters or other transactions. and the population of crypto holders is only a few percent of the human population who have access to banking

[Hube950]

To a large extent, it does. The crypto world is a threat to banking system. A major reason why some countries are banning bitcoins because they feel it might affect the distributions of fiat currency. Bitcoin doesnt require the service of a functioning bank to operate. EVerything is virtually online, easier transactions and all.