Does bitcoin pose a threat to banks?

[laserfocused]

Yes Bitcoin poses a threat to banks, that is why many governments are out to stop the circulation. I don't think it will destroy banks per se. To destroy the banks you would have to destroy the governments of these banks and that would be a task.

[thenameisjay]

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. There's always a market for these two because they're two different things. Just like kodak films and digital cameras. They're both similar in function, which is to capture images, but by different methods. The same goes for cryptocurrency and fiat money.

[Cherylstar86]

Bitcoin will reduce the number of banks, but it will not destroy them at all. And I think they can work together, because bitcoin will greatly simplify the work of banks.

Exactly. Here in my country most our banks adopt the crypto currency as they want to be part on the trend here in the cyberworld. Which is the fact that they accept bitcoin to fiat as they invested in bitcoin. Also, our central bank as it is government sector here in oir country approved to be part of us as we can access through online payments using bitcoin which can automatically converted to fiat.

[jpnl0003]

from my view bitcoin poses a threat to banks. In this time and age it can’t replace the banking system not yet, but at least not in the foreseeable future. What about the future that we can’t see? That might pose a different question.

[thundercrystal]

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 people like us here in bitcoin of course it does because we all know what are the capabilities of cryptocurrencies in replacing banks. But when we ask people outside here they'll say that idea is ridiculous

[melekseverce]

Bitcoin certainly poses a threat to banks, when banks are used, bitcoats and crypto payments as payment here and abroad, then banks can no longer charge a fee for this transaction. What can lead to a large number of banks closing.

[Dr.Nina]

Bitcoin is modern technological invention and it is called digital money. Now a days everything become digital. If the conventional banking system does not make their system digital then it will faces some difficulties. So it certainly a threat for the bank. But it will takes time.

[FrankHilk9]

I think bitcoin pose as a threat to banks as a competitor in  investment, bitcoin gets the attention of some people to invest with, rather than banks, but it cannot replace the traditional banks.

[Man From The Future]

I think the bank will not disappear, because countries around the world desperately need it. Banks as a means of rotation of the state economy, without the existence of a bank, a country will not developer. And also not everyone knows bitcoin, so they need a bank to store and transfer money, and to pay for their needs.

[cmacwiz]

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’s true that bitcoin has gained a lot of popularity  among the people throughout the world and it has also gained a lot of users who are ready to invest in bitcoin throughout the world. But still I don’t think that bitcoin poses a threat to the banks because firstly, people trust banks with their money way more than they trust bitcoin with their money. Banks regulate the currency because of which it is stable whereas bitcoin is not regulated by any bank and it is not stable form of currency.

[Bitdressa]

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?

can be because this bitcoin is not bound by the law anyone can use it and whenever people can access the bitcoin, so chances are people will find safe and easy in accessing their money and without complicated queuing at the bank registration is quite complicated and far from home for transferring our money to the customers in the target. if we are already in easy to mencet bitcoin without complicated ngantri why not. maybe my opinion is only that and thank you.

[jafu]

Yes it could be

[mornabo]

Bitcoin will reduce the number of banks, but it will not destroy them at all. And I think they can work together, because bitcoin will greatly simplify the work of banks.

nope it won't, although many people say that bitcoin is a competitor to the bank but everyone understands that the bank is the most influential third party for the state finances,fiat currency circulation is governed by the central bank, the micro businesses are backed by bank funds, and for many other reasons, bitcoin is just an option currency for fiat, not to beat the bank #imo

[wishere jean]

I think the existence of the bank will still exist even though digital development and bitcoin continue to increase significantly. The presence of bitcoin will not be easy to replace bitcoin even though people start switching using bitcoin.

[taxli]

The existance of bitcoin has been positively affecting the economy of our country but it's growth definetly does not make the bank industry develop better.

[Pepito Manaloto]

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 it does, knowing that bitcoin has all the features a bank has and it is even way more better as it gives out great convenience to everyone all over the world who are using it. Bitcoin and banks has a good relationship right now since it is where people are usually getting their fiat after converting their bitcoin.

[Rony24h7]

Yes, I also agree with you. Bitcoin pose a threat to banks to realize them who ignore and don’t seem it’s a currency. Some of the bank authority think investing in Bitcoin is a bad idea and they disserted the people not to invest in bitcoin. As a result of Government also accept it that investing bitcoin is bad for people. Even we see some of the countries already ban the bitcoin. So To realize them that bitcoin is a profitable currency, I seem bitcoin should pose a threat to banks.
It has both positive and negative site. The negative side is that who accept the biotin they also take it as thread and maybe they can stop the allow of Coin. The positive side is who ignore the Coin they may take it seriously that it will be next profitable investing and also helpful for the bank. Because If all the bank and government allow it, the invest and profit will be increased more.

[Maveric99]

of course not, banks better cooperate with bitcoin because to guarantee bitcoin in the future it takes an asset to trust the wider community to avoid the problem of loss or other help. it would be an opportunity to legalize bitcoin in a country.

[Saldom12]

I think maybe that could be because they are CEO of Banks thinking of ways to get people to think that investing in bitcoin is a bad idea and their money will be futile in the future.

[liseff3]

Will the bank disappear?

No! the bank will continue to exist because the banks are one of the financial power for the economy of a country which facilitates the activities of the society to save money, in terms of commerce and for future investment.
Actually, bitcoin isn't threat to the banks if banks are willing to implement bitcoin into their banking systems I'm sure the bank it will make a profit.