Does bitcoin pose a threat to banks?

[Chaki]

That was before, as I read some news regarding the relationship of banks and crytos are really getting good this year, most banks are starting to open-up with crypto especially Bitcoin, only matter of time wherein they openly accept direct banking of Bitcoin from Bitcoin wallet to Bank account.

[jpnl0004]

yea it does else we wont be having all the news on air about the government warning people about bitcoin and CEOS blarbbing their mouths,  defaming and give bad reputation to the money making bussines.

[coinholic]

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 Bitcoin poses a threat to banks. But not only Bitcoin, the whole idea of cryptocurrencies poses a threat. We all know that banks loves to take control of money and all other stuffs that they can gain profit from. Now Bitcoin is different since it's decentralized so they could not totally have control over it. This frustrates them so they try to find some ways to retaliate. Bitcoin has a huge huge market worth billions! Which is why banks want to get their dirty hands into it!

I don't think banks will seize to exist any time soon. Banks are made up of smart people. So I believe they will find ways to stay and co-exist with Bitcoin and all other digital currencies.

[tuliobrothers]

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 guess,  bank will not disappear,  i can see a greater changes in technology and hoping that bank may change and adopt the digital currency.  If the banks may change, the banks will not totally disappear.

[gilangIDR]

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 has changed the financial condition of the world. As you said that it can indeed happen. I see it as a revolutionary, when conventional financial transactions like banks are starting to be abandoned and many people prefer bitcoin because with bitcoin we can make a much better profit. Choosing an investment is indeed an option for everyone and it will impact on the financial system in the world as a whole.

[onnz423]

Bitcoin is a double edged sword when it comes to banks. First off they have the potential to completely revolutionize the way that their systems work, whilst allowing interoperability between different banks to a degree not yet approachable with current tech. However, bitcoin also has the potential to completely overthrow the banking system, as few people would even need to use banks should it become THE worldwide currency.

[putriliesma]

It seems the bank's position is not so threatened by bitcoin for now. Because the functions of banks and bitcoins are slightly different. But if in the future bitcoin can be a threat because it may be that investors who invest their capital to the bank will move to bitcoin all.

[miyong]

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 reputation.

Yes,  the banks are now getting worried in the growing population of the users of bitcoin,  in fact,  bitcoin is now become more popular,  i guess,  the banks are now afraid of this digital currency.

[cryptoalfs76]

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?

Actually  bitcoin and the banks is not a rival in terms of currency exchange,so therefore why should digital currency investment become a threat to banks,definetly there is a feed news that there is coming threaty between banks and cryptocurrency to help promote the economic growth by means of  exchange trading market ,and this is done by the central bank of the phil,that they stated they are willing to collaborate in crypto exchange interms of investment.

[chirst adam94]

I don't think so, while banks still are the ones who hold the most people money, there's still people unware of the advantages of taking the savings outs and put into the blockchain.

[dominional]

Yes it does ,bitcoin has become a big treat  to banks worldwide because people are not saving their money in banks again instead investing it in Cryptocurrency because the turn over is very high

[poletando]

bitcoin is not a threat for a bank, i think it will more than a bank, bitcoin is a threat for an economic of a country, what its mean? i think it people in a countyry using bitcoin as their currencies i think the government will confused because of this because as we know that bitcoin is not traceable and anonymously, which is bitcoin is can be taxed by a country

[SMD.Shuvo]

No Bitcoin is a threat to the bank. It's a complete lie. Private bank, who can take the effects of Bitcoin, who knows who will not fall, who knows.

[yohan09]

Perhaps it is a threat because people will divert to put their money through crypto wallet, If we compare how far bitcoin produce profit vs, saving money into banks for interest, Bitcoin surely wins. Bitcoin improves processing of payment and make efficient transactions. Banks spends much time specially during peak days..

[stryker]

Tthe government of a whole country will not allow the disappearance of banks, just like the banks. And all people will not use the crypto currency. A generation older than 50-60 years in the majority will not trust such a system, they will be for the old, proven and well-known them. It's banks.

[DoublerHunter]

Bitcoin is not a threat to the banks because the banks have their own objective to this world and bitcoin is here to just help the people to fight the inflation since it is making their fiat money have a lesser value but the banks are here to help the people to keep their money safe and to help to the flow or the cycle of the money in this world, so i don't see any threat for the banks here.

[Nissan-GTR]

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,  I thibk thats very possible to happened , Banks see Bitcoin a threat since it was widespread to the people through social media nd new on the television, and undoubtedly that Bitcoin is way better than a centralized company like a bank since it can give people a profit with just internet and enough knowledge how can you earn here, viola!  You can have your money, and investments were kinda secured than Banks.

[CryptoJedi1]

Yes, actually. Bank transaction are shielded from the general public. Whereas crypto transactions are transparent.( Except the privacy coins)

[Marcus Kohen]

It is unlikely that bitcoin will destroy banks. Most likely, bitcoin and blockchain will help to modernize and optimize the financial system in the world. I think there will be fewer Bank branches, and fewer people working in Bank offices. Everything is automated.

[sgenuine]

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.

Yes, mate, this is the truth. Although a certain amount of the people that love crypto will leave the banks, most guys will use the banking system and fiat money for their needs. Fiat and crypto will coexist.