Does bitcoin pose a threat to banks?

[Nick Abimanyu]

Actually No, it all depends on the ability of their government way of thinking. In fact, if they can think further ahead they can facilitate bitcoin with their bank and the bank will benefit from the transaction fees incurred.

[altercreed]

Bitcoin surely poses threats to banks because when people will be utilizing bitcoin and cryptocurrencies as payment here and abroad, then banks can no longer have a charge for that transaction.

[Gastotade]

Bitcoin surely poses threats to banks because when people will be utilizing bitcoin and cryptocurrencies as payment here and abroad, then banks can no longer have a charge for that transaction.

Too many bitcoin vs banks thread, there's no way they will fight, there are still people who needs bank since they don't trust crypto for now, and bitcoin still don't have full equipped to use physically like banks did. We still need them.

[mackenzie5]

Whenever the bitcoin is flourished like this definitely it will be a threat to the banks.Its processing charges and the processing time also high for the business people concerned.Since bitcoin  is the De centralized one no third party interference is required over there. So the business deal can be performed with out the Banks interference .In such a circumstance the global business community will be doing their business transactions directly and normally  bank will be a loser in this aspect and hence bitcoin is a threat to the banks.

[jherenz]

Yes! imagine you dont need the bank to transact your money.

[dangwapo311]

Yes bitcoin is a big threat to banks. Bitcoin is decentralized meaning no banks or anything is needed when making transactions or transferring money. Just the idea of bitcoin being used by many people is enough to make banks panic and do actions against bitcoin and other cryptocurrencies.

[Janation]

Yes! imagine you dont need the bank to transact your money.

That is the reason why the banks who regulate Bitcoin wants to know more about it. Some Banks do not look at Bitcoin as a threat but something that needs to be developed since it is a technology that will be a great help to people.

[TheClownSong]

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?

Cryptocurrency can disrupting bussiness bank. With lower fee transaction and instant transfer, bitcoin or cryptocurrency is more advance than bank technology. But I am still believe that bank will still exist around us because many people still dont know about cryptocurrency

[Sinecoin]

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 dont think bitcoin itself poses a threat to the banks because people will always look towards centralized currencies and well known financial institutions because they believe there is protections in them.  What i do think poses a threat to the banks is blockchain technology.  Blockchain can decentralize any financial service which guarantees trustworthyness and complete decentralization's.  It will be a while until this gets adopted among the masses but i do believe it will happen in the future.

[CryptoJedi1]

Yes, banks posses a major threat due to Crypto currency. Banks like to have a control over the public. Crypto is a boon, that gives power and control to the people, and boy, banks and governments hate that. That is why they are trying to defame Crypto with some silly reasons, like protecting the people, saving the economy and other BS.

[jayco25]

Many new digital currencies have been launched because they aim to replace the old bank system. Modern technology wants faster and bigger transactions. So it's a big threat to the bank why they are not supporting digital currencies and they are agianst.

#Taklimakan

[Nexmesh Team]

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 banks will completely disappear but their impact and the way we rely on banks will decrease significantly. Once cryptocurrencies are more widely adopted and the prices become less volatile, they will be able to be used as a convenient trading currency.
Banks serve two main purposes; holding our money and lending us money. In time, holding our money in secure wallets will become safer and more user friendly - we are not there yet but the day will come. Furthermore, there are projects like SALT that are working towards a peer-to-peer lending platform which will reduce the need to loan money from the banks.

[Nylelyn]

Indeed digital era are now to stay and have introduced a highly modernize online services,  but I still believe that Banks will never disappear.  Banks are institutions of our society and government regulate the operation of Banks. However, Banks should adopt to the current trend in terms of the  technology and should not be left behind. They need to upgrade and develop their own advance software for their services to be convenient for their Clients and retain their loyalty as well.

[jackky]

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 do not think that Bitcoin is a threat to banks, Bitcoin now has a lot of options for investing in the economy, so many banks are afraid of Bitcoin risks. Very afraid of this money, I think in the future Bitcoin will be accepted by them...

[libert19]

Idk but recently, reserve bank of India sent notice to all banks to not to deal with any crypto exchanges.

I guess they are afraid of cryptos!?

[bce]

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?

in my opinion is not a threat if that happens so it means there will be adjustments to the needs of technological developments and the era and demands all also change along with the development of technology in other words do not eliminate but adjust to what is needed in the development of the era and technology

[Rustamm]

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?

There is no threat to the existence of banks bitcoin and other crypto currency is not. Crypto currency significantly attracts customers of the bank and they lose their profits from this. No more. However, bitcoin and other crypto currency can not affect the existing banking system so that it ceases to exist. Crypto currency will not succeed. It can not replace the banking system, which is very necessary for every state. Any state carries out planning of the budget of the country's economy and controls its implementation through a system of banks, mostly state ones. This system is unshakable and crypto-currency with its high volatility is not even worth intervening. Any such interference will be severely suppressed by the state. Therefore kriptovpljuta can exist only in parallel with the banking system. The banking system can only improve due to the use of blockchein technology, as well as receive its commission from operations with crypto currency.

[teklang01]

Bitcoin aims to remove the role of the 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.

[BCSHonda]

I do not think so. Because 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

[BertoloyBTC]

It might pose a treat to banks because investment in the banks had a little interest in your money annually and impose with taxes, while in the bitcoin investment you can gather more profits compare to bank , if properly manage and there is no taxes impose in bitcoins.