Does bitcoin pose a threat to banks?

[Standon1]

I think bitcoin does pose a threat to banks that's the main reason the government tries to ban it by every means as they are not in control of it

[zarados]

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?

it could happen, but I would rather say that banks will be much less. Have you heard about big Japanese banks that lay off thousands of employees for replacing them with robots? Now that is a sign that we are going to live in an age of digitalization and robotization where human functions can be programmed into machines. Of course, the company will spend less if using the machine, because it only requires maintenance costs and no holiday. So cryptocurrency especially bitcoin is not the main factor of bank decline.

[castellodocet]

This is a delicate thread. Banks needs to update their systems if they want to keep their clients, with Bitcoin by their side they may lose control, but at least not investors. Soon we'll see Bitcoins in banks and the one who won't accept it, will be over in a couple of years

[binghope]

It is possible, as most investors now transfer their capital to the Crypto market. Few people send money to banks, because bank interest does not help us as rich as investing in BTC. This is a threat to the bank, a serious shortage of capital. And loans are also declining, as current capital mobilization programs through the ICO are popular.

[Keeminakar]

I think their rivalry is more  imaginary than actually exists. Banks have a number of operations that are not within the competence of bitcoin, so I do not consider them real competitors.

[sampalokmix]

Actually it does, that is why almost all of the Banks CEO are trying to make statements about the Bitcoins Bubble. Defaming bitcoin, indirectly and directly attacking its reputation.

Of course they hold unto like that, whether its professional or not since Bitcoin is becoming famous and useful for evwrybody in which banks isn't involve, they push a lot of hardwork just to keep in touch with their clients, advertisements, promos, and even package deal was involve for them to catch up but Bitcoin was being used unconditionally by the people and that will be a challenging part for them so tgey were all threatened.

[cryptocollecter55]

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?

Ofcourse it is.Being a digital currency bitcoin has give the solution for removing the bank option between buyer and seller

[Glutius]

I don't think the Bank should be afraid of bitcoin. If it does develop as it is predicted, then bitcoin and banks may well cooperate in the mix and significantly improve our economy.

[tokenomics]

I would have to say yes. Bitcoin poses a big threat big time. It provides flexibility and fast transaction unlike with banks which takes a couple or more days. The decentralization that it offers which means whoever has Bitcoin, they control their own money. No or probably less charge for whatever transaction you do.

[Ampong2121]

Bitcoin will not eliminate the bank, because even if there is bitcoin we still need to use fiat money, and the bank is an intermediary between bitcoin to make fiat money.

Yes i agree that we still need physical money because lot of people cant use the digital money, so i dont think that banks will eliminate because of bitcoin, because in the first place they have different things to do. Yes its true that  they have the same security system but if we are talking to their price its difference because bitcoin dont have stable price.

[Charity07]

Although most economists believe that there is little risk to the stability of the economy, they also suggest that the government should take stronger control measures against the bitcoin, because Their anonymity can increase tax evasion and other criminal activities.

[equoboy]

I think yes its a threat to them thats why in my country its always saying in the news that bitcoin is scam. But i dont think it will eliminate the banks easily.

[Thera Bethari]

bitcoin was born to meet the increasing demands of people through the payment of services in a convenient and fast way. Bitcoin is used aggressive in many areas of utility. In the future, bitcoins are more and more used and depending on the human use with bitcoin or the bank they choose. Bitcoin doesn't pose a threat to banks.

[Pier7]

I think it does pose a threat to the banks because in bitcoin, there service is not needed and the bitcoin owners will have the freedom to manage his/her own money.

[jona]

Off cause a very big threat, they is why the banks are than colliding with government to implement strict regulations that will be of their favour such as heavy taxes but the decentralized nature of bitcoin is actually making these plans frustrating

[vinzon04295]

yes there is a big impact in the bank corporations as what features bitcoin posses are far greater than the banks plans because they can't provide what bitcoin provide I think rather than countering the bitcoin why not just adapt with bitcoin right at least they can sure they will have more customers since there are lot of peoples involve in crypto activities

[lasry]

Yes it does. That's why banks keeps on banning out cryptocurrencies. Bitcoin does make transactions easier, and if more and more people shift on using bitcoins, banks will lose their customers and will soon lose their earnings too.

[lauranaura67]

Short term answer is NO because you need money to buy crypto and you need banks to deposit money onto exchanges. Long term answer is YES because once btc gets global mass adoption you will need less and less money to buy everyday stuff. Basically, people will stop using standard money because you will have the ability to buy pretty much anything with btc. But that's not happening anytime soon.

[KingOfWinterfell01]

Honestly, bitcoins isn't much of a threat to paper. To be frank, bitcoins are its own category. Digital currency is bitcoin's own domain. So we can't say that bitcoins will one day overthrow paper money. There will always be paper money and a more efficient system for the both parties.

[a_t_e_e_b]

they poses a threat to banks as more and more people get into crpto they would use it more and more for transactions and banks will be used much less than usual