Does bitcoin pose a threat to banks?

[Gatot84]

Bitcoin can pose a threat to the bank because people will use bitcoin and cryptocurrency as payments domestically and abroad then the bank can not have a fee for such transactions.

[tazman]

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

[TechnoBibble]

Yes it does ,bitcoin has become a big treat  to banks worldwide because people are not saving their money in banks again instead investing it in Cryptocurrency because the turn over is very high

[Sandijoee]

chances are it could happen that's why they think of a way to make people think that investing in bitcoin is a bad idea. But if I think it is difficult if bitcoin threatens the bank, because banks around the world have been accepted in each country respectively. Bitcoin is still the stage of development so naturally if the bitcoin is hated by the bank. So just look at the future to come.

[laryillary]

Against bitcoins, war is waged not only by banks, but also by the government, as governments and banks work together.
In many countries criminal penalties are imposed for the use of bitcoins, arguing that bitcoins are used by criminals to pay for illegal activities on the Internet.

[ASHLIUSZ]

Bitcoin can pose a threat to the bank because people will use bitcoin and cryptocurrency as payments domestically and abroad then the bank can not have a fee for such transactions.

Compared to the overall contribution of banks, what we're at present is very small. Maybe in future banks might consider bitcoin as a threat while the growth takes place in a large scale with support from governments. As a beginning to the same banks too have started to make themselves advanced with the blockchain technology. More banks were creating their own blockchain.

[TechnoBibble]

No Bitcoin is a threat to the bank. It's a complete lie. Private bank, who can take the effects of Bitcoin, who knows who will not fall, who knows.

[alihassan99]

yes.  100% bitcoin affect the banks and government. It will result in less tax collection and many other affects to the goverment and banks..

[Prinox2]

Bitcoin BTC is the first digital currency to have received widespread recognition and interest from users, developers, investors, central banks, and regulators, largely because of its “distributed ledger” technology, which allows it to provide relatively low-cost peer-to-peer transfers of money. Users own the bitcoin system and can make changes to the rules and protocol only by consensus or a supermajority of 95 percent. This communitarian ownership model and the fact that payments in bitcoin can be easily made from one end of the globe to another have led many to believe and hope that bitcoin will one day replace sovereign currencies—and the central banks that issue them. In addition, some observers see bitcoin as the origin of a fundamental transformation of the financial system toward a more decentralized structure. As a medium of exchange, bitcoin is still small compared with traditional channels, and it is held largely for speculation rather than transactions. Its lack of a mechanism for dampening the price effect of an increase in demand or reducing supply in case of a demand slump means that adopting bitcoin as a currency would be like reverting to a currency based on gold coins. As long as central banks continue to pursue stability-oriented monetary policies, they will have little reason to fear that the bitcoin system will replace them.

[crossabdd]

this is just waiting time for bitcoin to be received in all countries of the world. if this has been approved, then bank will no longer be useful, and we will see them close. but I think this is difficult. because the bitcoin has an unstable value (fluctation), while the country needs a currency that has a stable value. to accurately assess an item. and the state needs an institution that regulates  financial system to stabilize it. while bitcoin is not regulated by an institution. everyone has right to have as much bitcoin as possible.

[Rrtt]

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?

Definitely bitcoin poses a threat to banks existence because people would no longer transact business with them and bank's main source of income is the transaction fee they collected from customers. If they lose customers then they will lose their income.

[Chooroz]

I do not believe in the disappearance of banks because of the btc. Banks make loans, advisors, securities placement, and so on, all activities that will not be lost due to the presence of the btc. Perhaps only their role as intermediaries in payments will be reduced.

Right now banks  is still more better than bitcoin, but i believe in the future a lot of people in this world will surely choose to put there money with bitcoin rather than to put it in banks, and when the price of bitcoin will became high a lot of people will surely invest there money with bitcoin.

[nellakarisma]

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?

bitcoin is unlikely to get rid of the bank. because everyone is not necessarily able to invest in bitcoin due to lack of understanding. some likes to make transactions favorable to the Bank rather than using others, My hopes of bitcoin and Bank can go hand in hand together. or for this reason the Indonesian government forbids its people to trade in buy and sell transactions using crypto .

[wewe123]

If bitcoin is getting stronger in the business , there are people who do not want to go into business like bitcoin which is risky that they do not familiar with computers ,so they rely their money in the bank without risks so banks is still going in business and it will not vanish totally but thereis a competetions between banks and bitcoin investments.

[CoinstarF]

yes it is while many of other people dont know about bitcoin but if they do they would really invest in bitcoin than time investment in banks, and the bank was triggered by the crypto because the money will not roll to them

Yes bitcoin does a threat,  it's because investors are prefer to choose of a big profit, forecasting that bitcoin has grown rapidly rather than banks stated only of limit interest of what they can offer.

[ajiejot]

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?

For my own opinion, YES! Bitcoin is a really threat to banks, but for me banks will not totally disappear, there are still other people that they are still more comfortable to use banks, there are still people don't know cryptocurrency, we cannot force them to use cryptocurrency. We should respect their decision.

[Genamant]

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?

For me the banks are threatened by the crypto market as their investors will go down. But i do not think crypto has the capacity to make banks disappear. But if bankers coordinate with big btc traders then both can make money and also can help people.

[brengoskandel]

Yes, it does. The problem with Bitcoin is not the currency itself but rather the lack of any governing body regulating the exchanges. Without regulations, it is very difficult to track the transactions.
Bitcoin is independent from any central bank or any sort of manipulation by any government on the planet. People who use and create Bitcoin are those who are in charge of its future. That is the most important purpose of Bitcoin. Most of the early adopters of Bitcoin were libertarians and innovators, but today bigger part of the global society is starting to use Bitcoin. Now, people have an alternative. They can store value or trade with it without any control of the elite parts of the global society.

[jayarbillones]

Bitcoin will do what emails did to post mails.,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.  Most probably they would also incorporate the blockchain in their systems.

[roccstar]

Bitcoin pose a threat to small banks but in the major banks are not afraid. Major Banks will stay since they are a prominent entity in the financial workings of a country and backed by the government.
Bitcoin aims to remove the role of the small banks or any authority and brings back to the people the freedom to manage their own funds and could do any transactions to any stranger in the world anytime. This makes people love bitcoin and more and more people shift their wealth to bitcoin. This poses a big threat to banks and could destroy them.