Does bitcoin pose a threat to banks?

[NABILA AKTER SHILA]

Yes I think Bitcoin must be a threat to the bank. Because no government can control this digital currency. But I think banks will disappear. Bitcoin is also an unstable currency of nature. Its prices never last forever. But how different states are recognizing Bitcoin, it seems that in the next few years, Bitcoin will have to use the fee. Then the country's banks will accept it and they will not have any threats.

[laryillary]

Bitcoin is a threat to central banks and authorities, because this is the first currency system that can separate money from the state. It removes, perhaps, the most powerful instrument of the government, which is their monopoly on the global monetary system.

[Bolivar_Tony]

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, it is true that virtual currency is threatening banks around the world, virtual currencies such as Bitcoin, if accepted by the banks, are stored in banks, and this makes hackers The network is concerned, and they may start attacking that bank.

[dancingnancy]

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?

Banks will be affected in a way that laymen will shift their businesses from fiat to crypto. However curreently with fiat being the most widely used currency btc is a minor threat. In the future when blockchain is used everywhere and crypto becomes more well established it poses a serious threat to banks.

[JoshyKulotski]

Bitcoin is one of the currency that was recognized by many countries, because of this the environment specially businesses must be the first to know the trends and new. Although this is Cryptocurrency means "secret money", as a business person we must be on trend and must be updated on news. Bitcoin as a threat on banks: Bitcoin may be threat because people now will invest now on Bitcoin than banks because of high interest. Bitcoin has a non-perishable characteristic so it is worth of investing than hard cash.
As on my opinion Bitcoin is one of the threats banks encountering, probably bankers have plans for this problems like other businesses.

[pandanpanda]

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?

Some of the advantages of bitcoin compared to conventional money are very low transfer fees, high transaction speeds and barriers, transactions between countries and can be done with a matter of minutes and can be done anywhere and anytime without having to come to the bank.

[SnapDown22]

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?

threats to banks I do not think because these two currencies are different in nature and the movement if cooperating is possible if the government legalizes bitcoin as the currency that applies

[roccstar]

YES, it is a big threat to the banks. The goal of crypto is to change the old financial system banks are using. This is the main reason why banks are very much against Bitcoin.

Banks are backed by the government and its hard to disappear.

[Vektrum]

Bitcoin does not represent a direct threat to the existence of banks. Banks existed and will exist in any situation with a crypto currency. Bitcoin just takes their customers from banks and profits. Therefore, the bankers are nervous and try to distract the population from the crypto currency, sending them sometimes by mail information that the investment in the crypto currency has a certain risk and recommending not to deal with crypto currency. Also, bankers sometimes make more serious provocations, organizing in the mass media the release of false negative information about the crypto currency.
Banks themselves as an indispensable attribute of any state will always exist, as long as the state itself exists.

[svetochka.yakovleva.93]

No, I do not think banks will find a way to settle their situation, I expect banks will serve bitcoin and also take an additional commission for the transaction

[UchihaRukawa]

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?

In my opinion, banks will always be there and it will be with people till the end of time, I think it would be better to ask if people would be putting in cryptos or paper money in those banks. Change is constant and  change is happening quickly, when the time comes and cryptocurrency rules the world, I think banks will be there, one that could keep your cryptos secure and safe.

[Gatot84]

Odds of banks will disappear, many of them are using banks to save money. Banks still play a major role in the day-to-day activities of traders and I do not see any changes in the near future.

[freetokens]

Banks are on the implementation of blockchain ripple technology blockchain technology is helping banks it is nt a threat but an opportunity

[yitepaja]

We can say that bitcoin is the threat to bank but at present crypto just take a part of our monetory side .if it can take large area of market    then it will be a disaster for bank.

[tidus_13]

Theoretically, of course, bitcoin can destroy the banking world system, provided that everyone in the world will use crypto currency for calculations. However, there are no experts who would consider this scenario seriously. Although, of course, the number of non-cash transactions, according to the Boston Consulting Company, will grow to 780 trillion dollars by 2023, which scares the banks that got a serious competitor.

[rtm125]

I do not think that bitcoin is a full-fledged competition to the Bank. Yes, some banking operations will cease to be relevant, but the Bank still has something to entice consumers.

[drukoz2]

And what about loans, mortgages and other similar operations. How can bitcoin provide this? Everyone will have a job, and banks may well coexist with bitcoin.

[emath7]

   We need to know well the blockchain technology. Thanks to Blockchain, the network between people became stronger. We can now perform our operations without the need for any intermediary factor. We can handle these operations very quickly.
   What will be the future of the banks after Bitcoin?
   It depends on what purpose the banks are using. If you are an institution where you keep your savings, I do not think it will be too much. But if it is used for payment or transfer transactions, we can say that the banks have been turned over. Because the transaction times and fees charged in the banks are very disturbing.
   Now the world's leading banks, digital paralara is very interested. And he began to build his future. Ripple is a digital money that is beginning to be used in the banking sector. Lumen (Stellar), a digital currency, has begun to reshape the banking industry by partnering with IBM.
   The banks will decide again about themselves. Either they will be part of this technological revolution, or traditional banking will continue and they will wait for their own end ...

[eolitic]

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?

that's right, bitcoin is threatening banks. cause it ruins their monopoly, and i think it'a great  cause banks were functioning so many years, now they have a real opponent. bitcoin changed our lives. i personally have my life changes because  crypto and i am happy about it. i am happy i am a little, but a part of thus huge system

[shawa]

BITCOIN DOESN'T POSE A THREAT TO BANKS BECAUSE BOTH OF THEM NEED EACH OTHER