Does bitcoin pose a threat to banks?

[ram64GB]

At some point it does. Bitcoin has become the challenge to any banks because many people are losing trust with them. Even I feel that the banks do not understand and or addressed my necessities. Bitcoin pose a threat to government mainly because Bitcoin is rising and if they reject it, it could affect the country's economy.
However, some government still feels calm with Bitcoin, primarily because it is still not widely adopted.

[Ishiro5]

If governments and the banks co-operate, it is best they coexist before finding a safe exit plan for banks if that becomes necessary. But certainly, bitcoin does pose a threat to banks, not just because banks could disappear but because even if they do not, the space for their dominance and wanton 'fraud' is being and would be greatly limited.

[david tien]

Yes,  the banks are now getting worried in the growing population of the users of bitcoin,  in fact,  bitcoin is now become more popular,  i guess,  the banks are now afraid of this digital currency.

[cryptotenoy]

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.

I think thats banks created FUDs that contains different accusation for bitcoin,because they saw bitcoins potential to pose a threat to bank that might be their reasons that they will be bankrupt and fiat would become useless anymore.

[david tex]

I don't think so, bank will remain because it's already part of the human history and not everyone knows and use bitcoin yet specially those who are still in third world country or in remote areas, for them they still need to use fiat for everyday use and also some still prefer to use bank rather than bitcoin.

[aitrading]

Of course. BTC is the best competitor for the banks. And I believe, bitcoin will win. Banks system should accept it or stay in the past.

[Spaffin]

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?

You should not worry about banks. Banks will exist as long as the state exists as a form of social order. Banks are an integral part of the state. They serve the financing of the country's economy and the implementation of the state budget. The main function of banks is financial and credit. This function can not yet be performed by the crypto currency, I mean banks will continue to exist for a very long time.

[Shiversnow]

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 can sense that the cryptocurrency market impose a competition against banks in the near future. I just hope that they both can work together though. In the next decade, online transactions will be more prominent so I think bitcoin will be a common tool for finance. But how it will affect the industry of banks is still a question that we can only answered surely when it happens. So I will just wait and see it from my own eyes.

[Baby Dragon]

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?

As an innovation, bitcoin offers an alternative to banking. And personally, I like using crypto more than online banking. With bitcoin, I can buy more and the transactions are faster and the fees are overall cheaper especially if I buy something from across the world. Banks might just remain in locals and I think bitcoin and the whole crypto market will win the online financial system.

[jake zyrus]

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 still think that both bitcoin and banks can work independently. Yes, I know that there will be major competition soon but for me bitcoin will top the online transactions because it is more practical and efficient thanks to block chain technology. And banks are still needed by local industries for loans and savings. It will surely take years before bitcoin can be as common as the banks here in my country but it will be worth the wait.

[charlemagne_15]

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?

The existence of bitcoin is truly a threat to the banks due to if all the people embrace it the fiat will be nothing or nonsense. In my opinion, I don't think banks will disappear for a reason that first, governments and the CEOs of banks will not let it to happen that is why they make a bad image of bitcoin. Second, bitcoin cannot do what the banks can do like loans. Lastly, people are still in doubt whether they should do bitcoin or not and not all of us have a capability to access and understand bitcoin.

[ucok_aball]

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?

As an innovation, bitcoin offers an alternative to banking. And personally, I like using crypto more than online banking. With bitcoin, I can buy more and the transactions are faster and the fees are overall cheaper especially if I buy something from across the world. Banks might just remain in locals and I think bitcoin and the whole crypto market will win the online financial system.

it all takes process and time of course to achieve something very big it
we must be eager to contribute in building bitcoin better known and can be supported by everyone

[kaizerblitz]

I think the banks and government are so afraid of bitcoin because bitcoin is the money of the internet and the help of blockchain technology they cannot control bitcoin it can be the bitcoin they worst enemy it comes in financial statement.

[salintheonline]

definitely it does.but i dont think it will vanish all bank systems.we can see more seamless connections between crypto and banks.

[taeewo]

It doesn't at all, i only see them adopting the blockchain into their system too.

[Kolly]

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 a competitor but i dont think that it would make banks to disappear. Banks has so much functions that bitcoin cannot offer and one very important function is giving loans to individuals or business entities.

[faithofb]

Yes it does but what would have help them now is for them to be thinking on how to start using blockchain technology with their system..

[dogz12]

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?

A lot of people are now shifting their funds to cryptocurrency because banks offers minimal interests to bank deposits while you can double or triple your money in a short peiod of time with cryptocurrencies. Though this is becoming the scenario lately i dont think that banks would just disappear. Banks have so much to offer that cryptos cannot.

[BrindHexta]

It seems the bank's position is not so threatened by bitcoin for now. Because the functions of banks and bitcoins are slightly different. But if in the future bitcoin can be a threat because it may be that investors who invest their capital to the bank will move to bitcoin all.

[genixye]

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, the government is being hit harder than ever, because the government has the power and the ability to print money out of thin air. And bitcoin is decentralized, and for the first time in human history, technology has been used to ensure that private property is sacrosanct.