Does bitcoin pose a threat to banks?

[Starscream]

Yes, it does. The most of power that a government presents comes from their ability to endlessly print money out of thin air

[wilsonwilly1]

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.

[damrianto]

currently the development of bitcoin is much increased, in view in terms of its effect on perbankkan. some observers have conducted research on the positive effects and negative effects on the bank .. bitcoin is not a threat to the banking system. On the contrary, Bitcoin will be a new opportunity for banking.

[toral host25]

i think it is 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.

[YzzyGo]

Banks will stay since they are a prominent entity in the financial workings of a country. Doing away with them would certainly lead to a collapse eventually. Besides, banks makes things convenient for sending money and even cashing out. Most probably they would also incorporate the blockchain in their systems.

[Msile]

What bitcoin does is threaten the monopoly of banks over money. If banks don't innovate drastically than they should be really worried as crypto currencies are here to stay and every day there is new innovation being made in this space. Banks wont be able to keep up with this pace of development.

[Genamant]

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?

Indeed it does. It is better to invest in bitcoin than put it in a bank. Interest rates are so low in banks. That is why banks bad mouth bitcoin so people will invest in banks. If lucky enough 10years interest in a bank can be earned in a day in bitcoin if the price is right

[buburjelly]

Until now I have not seen any threat posed by bitcoin to the bank. The bank has been helped by bitcoin to improve its customers' transactions because when bitcoin holders want to cash out their assets they will exchange in the crypto exchange service and send the money from the exchange to their bank account. Only the transaction system used bitcoin better than the bank.

[ir.yance]

bitcoin can pose a threat to the bank, if bitcoin is growing then people will save their money in the crypto currency purse. bitcoin can destroy the bank, that's why the bank is opposite to bitcoin.

[MakeMoneyBtc]

A lot of people say so but right now bitcoin is just a small part of banks problem. Right now bitcoin does not pose any threat to the banks because people have not yet discovered the actual usage of bitcoin and they are probably continue to use it as an investment so banks are ok with that. In order to pose a threat for banks, millions of people have to use Bitcoin and I am not talking just about buying and holding it. They have to buy and use it for international transfers or different transactions so that they can close their bank account and use bitcoin. That's obviously not going to happen anytime in the near future but there is enough time for it.

[joblessminer]

Decentralization is a threat to every industry as it currently stands. We've had no other way to do it but to trust a small group of people. Pinkdate is decentralizing escorting, watch out pimps!

[nerlial]

Bitcoin represents a big threat to banks. Because of the crypto currency, banks receive less profit. To enable banks to develop further into their feet over time, they need to implement Blockchain technology.

[Momoamzad]

I don't think so. bank is a safety place for cash money. and bitcoin is a digital currency using blockchain. both are different from each other. we reserve our digital currency in digital wallet through internet. so there is a huge differnce between btcand bank system
 

[ericmalik]

in addition to the possibility of closing bank,one can hope that the production of banknotes will be reduced and can hope for the future of the trees.

[slhardy]

That is so called "Digital revolution", the world is ever changing and we need to ride to its flow. Otherwise, we lose something just as mentioned to the post. Virtual currency by far took the lead in the world of modernization and technology. However, at this stage, it has no power yet to dominate over those big financial industry after getting manipulated.

Quite import on every stage of development remember what has been done and keep all gained information in databases. The same is with bitcoin – banks can't be fully replaced, but though when blockchain-based services will take a bigger part in lives of our society, fiat system with banks will still connect many people and combine many actions.

[freshm4ker]

For the moment I think it will not happen. It is impossible that the bank will disappear. Many of the people use banks for cash there. The bank still plays a role in its daily merchant activities and I do not see any change in the time as close as possible.

[RedzoneASE]

I don't think so. Bitcoin could never replace FIAT but BTC can co exist with FIAT. Both FIAT and bitcoin can work well thus we can't say that bitcoin is a threat for banks.

[sakokinak]

bitcoin as a decentralized structure is a big threat to the banking system worldwide. bitcoin has come with lot of flexibility and transparency, there is no limit to how much you can hold in your account and not VAT or maintenance fee charged on your money

I respect your point of view but I will disagree with you. It is NOT a threat to the system of banks. Too many people (even in the nearest 20 years) will prefer to use fiat and deal with banks, not with crypto.

[WellDogeo]

Although most economists believe that there is little risk to the stability of the economy, they also suggest that the government should take stronger control measures against the bitcoin, because Their anonymity can increase tax evasion and other criminal activities.

[Et Hereum]

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.