Does bitcoin pose a threat to banks?

[_Apollon_]

Banking systems have become obsolete long ago. Bitkoyn, like the technology itself, will continue to evolve and present an evil to this system.

[jimbo77]

Not just posting a treat to bank but a very big one. Bitcoin takes the power from the banking system and gives that power to the people,  this is what banks are trying to avoid,  they want to always be incharge of the whole financial sector without any competitor. Bitcoin is not just a competitor but a decentralized one which is owned by everybody and also owned by nobody.

[katrimans]

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

Bitcoin can beat any thing related to money if the government of a country allows it to the people and gives them free hand to handle their expenses as we have seen that many countries have done so by giving them the opportunity to use Bitcoin for easy methods.

So Bitcoin does not stop you to go to bank but you want Bitcoin for the handling of money as you know that Bitcoin does not cut transaction costs and other interests as like banks do. Bitcoin will surely be the future currency due to its demand due to its features and functions.

[boddy.dy]

I guess somehow bitcoin pose a threat to small banks but in the major banks I guess they are not afraid with bitcoin. Small banks maybe threat by bitcoin because they can be replace by bitcoin and its wallets but in the major banks which has a much stable industry they will not be threat because they have a stable clients. Surely the major banks are just waiting for bitcoin to come to them and talk on how major bank can help bitcoin or we can say how bitcoin can corporate their business with those banks. Well the good benefits of all is what we are looking forward let us not think about a negative effects between bitcoin and the banks.

[1Referee]

I guess somehow bitcoin pose a threat to small banks but in the major banks I guess they are not afraid with bitcoin. Small banks maybe threat by bitcoin because they can be replace by bitcoin and its wallets but in the major banks which has a much stable industry they will not be threat because they have a stable clients.

It's actually vice versa. If we look at the general developments in crypto terms between the larger and the smaller banks, smaller banks are much more open to adopt newer technologies, because they are much more focused on offering their clients the service they deserve and have full right to. Large banks are cocky and no longer care about their clients, and especially not when it comes to the regular account holders.

If you're not taking out a high loan, or mortgage, or let them gamble with your capital on the financial market, you are nothing to them than just a number in their database. It's not for nothing that the smaller banks in my country have all gained clients, and that in pretty big numbers, while the lower trust in larger banks drives people away from them, and they don't seem to care yet, but will do so eventually.

Banking itself is no longer their core money making machine, which says enough. Banks have become a combination of everything more throughout the years, but less of a bank.

[Ukaraki]

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?

This should be authentic, and there should be good reasons as the currencies are growing, in my country Bitcoin is banned, so banks do not have the fearful moves when Bitcoin fluctuates, I think in The future of these coins will undoubtedly be more popular with the people.

[lastnumber]

I do not think Bitcoin threatens the bank. But sure that if Bitcoin is widely used, the Cryptocurrency market is widespread in many countries then the operation of the bank will be affected. But the Crytocurency market is fundamentally different from traditional banking. Each side has its own pros and cons, but people will probably use Bitcoin more because of its security and usability.

[Dark_raven007]

On the one hand, yes. For example, people in them do not deposit deposits and so on. But without a bank, we can not cash out. This is a struggle between them for a long time.

[Argoo]

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 the existence of banks do not need to worry. The banks will always have work. since they will regularly carry out government orders for servicing the country's budget, as well as perform a monetary function, which, in practice, is the main activity of banks. In addition, when the crypto currency is officially legalized in the country, the banks will adjust to the situation and provide various services in the crypto currency for moderate rewards. Therefore, banks will never disappear.

[natalagerman95]

The implementation process is most active in places where state support among the population is the lowest. People trapped in a corner are ready to use any tools that will help them in such a difficult matter. Many tokens, on the contrary, are deflationary (their total volume decreases over time due to transfers to non-existent addresses, "burning" and other factors). This is dangerous for economic growth (which is an indicator of a healthy economy), since the belief that the price of a token will grow with time will be accompanied by a decrease in the number of coins in circulation.

[Olano]

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 that 10 years ago the banking sector is not in danger. Bitcoin and crypto currency are still too young and not convenient to use. In addition, the crypto currency is used by a limited number of people. There are very few of them. Crypto-currency has yet to go a long way to the public acceptance of them by society.

[Lektor188]

We come to the view that the widespread use of bitcoin or other digital currency will not lead to the collapse of the banking system, although it will seriously shatter, forcing us to reconsider the policy, which was based, inter alia, on the receipt of "easy" income – from transfers, commissions for private transactions, and so on. So, banks will have to make up for the loss of income. Using more risky credit policies, adhering to high-risk trading strategies.

[ranochigo]

They won't. As long as government exists, banks serves a purpose to the citizen. Governments will not do away with the paper money and they are unlikely to adopt a currency that is this volatile and virtually impossible to regulate.

In addition, the fact is, Bitcoin's adoption is still ridiculously low in the real life. It is very unlikely for mass adoption to happen anytime soon, unless the price somehow stabilises. Fiat would still exist and so will the banks.

[esa2782]

i think so, because bitcoin fundamental principle is literally the opposite of banking, banking is based on trust of costumer to give their money to be maintained by the bank, and somehow bank is acting as a "guardian" for our money, but bitcoin on the other hand does not need all of that, it is open, private, and peer to peer, or based on consensus, so basically speaking, bitcoin is a natural enemy of banking system, so i guess if bitcoin and cryptos are getting more and more accepted as an exchange system, the bank will only have one option, die out.

[yasong]

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?

While not acknowledging that Bitcoin is a threat, most respondents are still concerned about the role of Bitcoin and its challenges to the traditional central bank’s currency.

[Atits]

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 ... Bitcoin and the cryptocurrency market get pressured by a bearish sentiment based on the technical pattern known as “death cross”, investors are also aware of the mixed signals coming from big banks regarding the asset class – with great focus on Bitcoin and Ripple.

[RoolBi]

I do not think that . For me, bitcoin is just a market for us to invest. If it comes to the threat, ICO projects developed in the form of withdrawals from ATM towers will affect the banks.

[ToyotaFortuner]

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 bitcoin can be a threat from the bank because in your bank save money with administrative fees every month, while storing your assets in bitcoin certainly you do not need the cost of admin just by storing in bitcoin you can get a very more advantage.

[Betheng10]

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 would say partly yes because instead of using credit cards for online transactions, you have an option to use bitcoin. It would decrease banks' transactions which hugely contributes to bank incomes.

No, bank will never disappear. They play a big part in a country's economy and they are the legal monetary body acknowledge by the law.

[JiuMiBe]

While most economists believe there are limited risks to financial stability, they also say governments should offer greater control over coded currencies. Their anonymity and non-transparency may increase tax evasion and other criminal activities.