Does bitcoin pose a threat to banks?

[Washball]

Bitcoin is seen as a threat to banks, that's why the financial institutions all spread FUD. Governments, who are in favor of banks, are planning to regulate cryptocurrencies. They also charge taxes on every transaction. This whole scheme is planned to attack cryptocurrencies, because banks are afraid of being taken over.

[ronbt]

Bitcoin yes, unless they can charge for transactions and conversions...so they will be trying to take control.

[Tashi]

Bitcoin will do what emails did to post mails. Try to get that first sentence a basis. At first people are rejecting emails. They don't know the capabilities of it. But since, we are evolving, it was clearly implemented.

Bitcoin really shows a pose of threat. So banks, if they can't adjust to the ever changing needs of time, it's over.

[CryptoBitCoins]

An interesting idea for the author. Perhaps he is right and in the near future banks will go to the second plan. In fact, all the information that is stored in the bank, now all the information is on personal computers. But anyway, there will be such a question, regarding loans, who will be able to give them and how will this be regulated? So, the banks will remain, but not in the form in which we are accustomed to seeing it.

[Zyborg]

Of course BTC is a great threat to banks and other financial institutions.BTC is a revolution in Cyptocurrency.For example you wanna transfer money from World one place to another place,if you go to banks,you have to fill documents,wait for confirmation,wait for some time in bank,high banks fees,and in this way you spend one your whole day.If you transfer through BTC, there is less fee and instant transaction and more safe and secure.Internet replaces Postal services,similarly with higher maturity one day future of banks will be in danger.These examples reinforce that BTC is a threat to banks..

[laravuemaster]

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 does not pose a threat to banks but since banks are also an investing company then they will both have competition on the business. Cryptocurrency needs investment in order to earn profit and banks are also required to earn investors in order for them to earn profit so there's competition between them.

[Zrs]

bitcoin always pose a threat to banks.as bitcoin is a peer to peer transaction,we do not need third party.So in another word,we do not need bank.bitcoin revolution always gives tension to bank in the question of their existence.

[e19293001]

Yes. The biggest generator of FUDs are banks. They fear to lose their
business. If only they can pay the government to create an
international law to ban bitcoin, they'll do it.

[Pesona1]

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 must cause problems for banks, now banks are worried about bitcoin threats. in many countries many banks are starting to resist bitcoin because bank customers are switching to bitcoin investments rather than saving deposits in their destination banks because if their bank profit is flat every month, whereas if investments in bitcoin they can get big profits in the near future.

[alekseidanilov0803]

I do not think so. The currency exists by itself! And no one touches her, and she does not touch anyone. Something like this...

[w33man]

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?

Well, in the future if people choose to only utilize one form of money which is bitcoin, then it would definitely be a threat to banks since they only accept the Fiat system. Of course, there will be no use for banks if all transactions are done online. Still, I believe that banks are wealthy and they will innovate to adapt the changes that bitcoin will bring.

[jimrome]

Bitcoin will do what emails did to post mails. Try to get that first sentence a basis. At first people are rejecting emails. They don't know the capabilities of it. But since, we are evolving, it was clearly implemented.

Bitcoin really shows a pose of threat. So banks, if they can't adjust to the ever changing needs of time, it's over.

I do accept the fact that bitcoin and block chain is the invention of the century but it is hard to think that a government funded banks will be affect by it,because if you are not aware of it,if you want to purchase your coins you need to have the banks to send the money,you know what happened when the banks stopped credit card being used to buy crypto currency,the market went down,so think what you are telling.

[Kumic]

They won't disappear. They will exist in some form. Maybe we will see fiats on a blockchain, who knows.
The government needs the control always.

[JoshMart]

I say yes to this. That's because bank (and most governments) don't have ways and means to regulate BTC, yet. On top of that, BTC gave birth to new electronic markets that these banks and governments cannot control. Ultimately, the control belongs to the people of Cyberspace.

[severaldetails]

Banks don't fear cryptocurrencies. The market for cryptocurrencies is gettinge more and more regulated. And the decrease of the price is something that scares possible new crypto users away. I think that we are back at a level where the people see banks as more trustworthy as crypto currencies again. It will take a long time until the popularity of the crypto industry will increase again.

[kashwin663]

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.transaction person to person will by online mode there is no use of banks.so i think it is threat to banks.

[GwSoJ]

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 don't think so. Not going to happen. The question is like "Will cryptocurrency replace fiat?".
First, Bitcoin in nature is limited
no internet connection, no bitcoin
no electric power, no bitcoin
no electronic device, no bitcoin
etc...etc
In fact it will do just the opposite. Bitcoin or cryptocurrency in general will boost the financial/banking industry. People will have/earn more money because of bitcoin. And where do you think people put there money for safety? To the bank. Where do business put their money where they earned from bitcoin earners who purchases or ask services from them? To the bank.
"Bitcoin'ers" will and always will transfer there digitals to fiat no matter what. Because bitcoin is being used as an investment/asset rather than as a currency.

What a lot of nonsense. You argument holds true for fiat too

no internet, no fiat
no electricity, no fiat
no electronic device, no fiat.

If you think the current financial system survives without electricity or the internet then you are a fool. The only reason we need to transfer bitcoin to fiat right now is because the technology is still in early adopter phase. It will, over the next few years become possible to never have to transfer bitcoin to fiat. Why do you think the governments and banksters are spreading all the FUD about it. They require you to use fiat so they can take most of it off you as taxes and fees.

I really wish people would think before posting.

[AlexsanderGusev15]

I think there is no bitcoin live by themselves and threats do not provide But this is my personal opinion and what do you think.

[muyizz]

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. 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.

[shaadsufi]

Yes because slowly people around the world are adopting bitcoin and keeping their money in bitcoin instead of banks because the amount of profits they are making here is much more then they are making in banks so they keep it in bitcoin or other cryptocurrency and because of this banks are getting affected with bitcoins.