Does bitcoin pose a threat to banks?

[adolf512]

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 believe that banks will not disappear and at the moment bitcoin does not pose a threat to the banking system, otherwise world leaders would act differently with respect to the crypto currency.

[thankyoulord]

Yes, I think bitcoin is a threat to the banking sector because if people eventually to cryptocurrency the bank will loose more of it's customers and perhaps the profit from cryptocurrency is more compared to that of banks...

[saruxanyan]

Bitcoin certainly poses a threat to banks, when banks are used, bitcoats and crypto payments as payment here and abroad, then banks can no longer charge a fee for this transaction. What can lead to a large number of banks closing.

[tegarp90]

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?

The current condition of bitcoin is not beat the bank yet.
For the safety, saving bitcoin is more risky than saving money in the banks.
Also bitcoin price is not stable, so not many people brave to save their assets into bitcoin

[pilnenkii]

Of course, banks can disappear! But this in my personal opinion will not happen in the coming decades, and maybe never. It is not profitable for the states.

[dbutp]

I think bitcoin is a big threat to banks. Bitcoin thrives, many people will use bitcoin. The banking sector must have a revolution to develop and survive. As you can see, when online music developed, the tape was erased. As information technology thrives, electronic money in general, bitcoin in particular, will be a big threat to banks.

[PilosopongTacio]

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?

It does pose a threat to banking system. They're afraid of being made obsolete and more people are choosing blockchain technology because its decentralized. It allows people to trade directly with each other, cutting out the need for a third party or a middleman just like what banks does.

[lodcoling]

It is well known to all of us that, crypto currency is the invention of modern technology as a financial system of payment system. If the government or bank does not accept it or if they are not updated with the modern technology, they certainly step behind. And one day they disappear. But if the they introduce new system or accept crypto and block-chain technology then they must survive. Its depend upon their time to time decision.

[Bitcoinbitcoin0909]

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 can be considered as a threat to the banks knowing that it has all the features and capabilities banks have and it is way more better. We should always consider the fact first that banks are legal in the whole world meanwhile bitcoin is not so that's a disadvantage for bitcoin but still it is slowly snatching its way to the world market making it possible for bitcoin to kill banks in the future.

[AntonGrishko]

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.

[jennygamilo]

For sure, it's a bitcoin for people to get money and of course it means that the person needs money, but somehow they use the bank to keep their money coming from bitcoin, and of course they will it is in the bank so they can control it and another is still needed by the banker so that they get to bitcoin will keep

[Vz Ketua]

I think banks will still exist with the presence of digital currency. Perhaps banks will adapt to technological advancements to keep them in need by the public.

[Wiliam88]

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.

[Bitexpert2017]

In my own opinion yes, because the company of bitcoins really creates a booming growth in our economy which is very good but in the banks it is really a bad thing.

[virendarnagpal]

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?

Comparison of kodak with banks  is not fair.  Kodak did not change itself with the  change of time so it failed because with the use of digital cameras the camera films were of no use and kodak was just producing  and was just dependent on the old technology.  Kodak did not adopt latest technology that is why it failed.
When we talk about bank ; banks are already diverting their activities towards digitalisation of their transactions.  They are motivating their customers to use more and more digital transactions. 
Major part of their transactions has been diverted towards digital banking.  Even we are hearing news about  creation of crypto currency by the banks. 
So banks will never fail;
But I fear speculators and big whales may force bitcoin to die because of their greed to snatch money from the true small investors.

[13risingforce]

Looks like bitcoin slightly threatens the bank. Because some bank investors may have tried to sell assets or shares in the bank to try to invest in bitcoin or other coin.

[prismatica007]

Obviously, they lose with digital currencies, because they are not under their control, since they are not what they can invest and earn

[@Hakermania@]

I do not believe in the disappearance of banks because of the btc. Banks make loans, advisors, securities placement, and so on, all activities that will not be lost due to the presence of the btc. Perhaps only their role as intermediaries in payments will be reduced.

[Omega0255]

To be honest, i do not think that there is gonna be a "war" just like many people said before.

It is only fiction for a lot of people in here, and it is almost impossible to see it happening in a near future.

[BelieveInBTC]

Bitcoin is a huge threat to banks which are trying to get rid of paper money. Fortunately, they were stopped by Bitcoin and many other cryptocurrencies which were created in the last few years. Many people started to understand the concept of cryptocurrencies which might not be easy for everyone but if we help other with it then we will quickly achieve high adoption level. Banks earn on fees and lending our money to others. They won't exist in the future if they don't have any deposits. That's how it might end.