Does bitcoin pose a threat to banks?

[tazman]

I think their rivalry is more  imaginary than actually exists. Banks have a number of operations that are not within the competence of bitcoin, so I do not consider them real competitors.

[peynman]

I think bitcoin pose as a threat to banks as a competitor in  investment, bitcoin gets the attention of some people to invest with, rather than banks, but it cannot replace the traditional banks.

[dexentrali]

I don't think so, bank will remain because it's already part of the human history and not everyone knows and use bitcoin yet specially those who are still in third world country or in remote areas, for them they still need to use fiat for everyday use and also some still prefer to use bank rather than bitcoin.

[gadimbrut]

I think the bank can run along with bitcoin, but most bank people think that bitcoin is a threat to the bank. but in my opinion the bank will remain in there and bitcoin will not eliminate the function of the bank

[Lektor188]

Theoretically, of course, bitcoin can destroy the banking system of the world, provided that everything in the world will be used to calculate the cryptocurrency. However, there are no specialists who would consider this scenario seriously. Although, of course, the number of non-cash transactions according to the Boston Consulting company will grow to $ 780 trillion by 2023, which pushes the horror on banks that have received a serious competitor.

[wtbhitlv]

That's true. Bitcoins can provide a lot of bank functions. If bitcoin is developed vigorously, it will gradually replace a lot of banking business. Bitcoin is more efficient than bank, low cost and anonymity is a lot of customers.

[TrufieldICO]

No Bitcoin does not pose s threat to banks. I think the question is. Do banks pose a risk to Bitcoin and the answer to that is a big Yes

[Alanpigi80]

You guys are right. Big and solid banks have nothing to fear from cryptos; they're just too much powerful among the masses. When will be the time, they'll own their bank related crypto or integrate bitcoin or eth in their circuit

[lukas52]

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.

[Jacata98]

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.

[Vanester2014]

Its not like that but i think bitcoin and other crypto currency is a bit problem in traditional banks because they cant control the transactions that came from crypto currencies. Even governments thinking about this thats why they put a strict regulations about crypto because they cant hold of freeze crypto currency when scammer attacks.

[Kingjagat]

BITCOIN DOESN'T POSE A THREAT TO BANKS BECAUSE BOTH OF THEM NEED EACH OTHER

I think Obviously other BTC and Cryptos are competing with this and therefore you can expect heavy resistance.
. The majority of government power is derived from their ability to print money without stopping from the air.

[Kate_Ngubanga]

I believe that banks have something to worry about. The fact is that for many years all innovations in financial technologies have affected only the applied level. Crypto currency is something else. A new ecosystem is starting to form, which has nothing to do with the existing infrastructure. The first clients are people who for one reason or another do not have access to the financial system.

[Doge dealer]

no it should not as both can be complementary but if banks continue to refuse to do some transactions such as banning people from using their cards to purchase bitcoins then it will very much become one because people will purchase the coins without them and might stick to these channels that allowed them access.

[zarados]

no it should not as both can be complementary but if banks continue to refuse to do some transactions such as banning people from using their cards to purchase bitcoins then it will very much become one because people will purchase the coins without them and might stick to these channels that allowed them access.

Probably, something you do not know right now that is the purpose of the ban by the banks to make transactions purchase cryptocurrency by using their products in the form of credit cards. Because since 2017 increased use of credit cards for the purchase of digital assets more rampant, and it is considered very risky. inevitably, banks should discontinue use of their products in use for digital asset purchases because it is feared that NPL (Not performing loan) value will increase because of it.

[Nivir]

This world is governed by banks. Banks are behind the current financial system and are monopolizing it. So why will banks not destroy decentralized digital currencies that they cannot control?

[MUSFIKAR]

Yes, since it is not just Bitcoin that threatens them, it is the idea that currencies should not be centralized and that with the correct codes, approaches, communities, and decentralized coin development teams not only work but can also grow and be accepted by people . If you tell people that this will happen a few years ago. As you can see, most of the people who appear in the news are bankers who will say their opinions about the kriptocurrancy currency and it will certainly be a negative opinion to convince others to continue to trust them and not withdraw funds from those who have diversified their investment.

[Ch01ce0N3]

I think the existence of the bank will still exist even though digital development and bitcoin continue to increase significantly. The presence of bitcoin will not be easy to replace bitcoin even though people start switching using bitcoin.

[romero121]

This world is governed by banks. Banks are behind the current financial system and are monopolizing it. So why will banks not destroy decentralized digital currencies that they cannot control?

Banks were behind the financial accessing of each and everything an government initiate. By this time when something decentralized competing with the banking system will surely be taken into consideration by the governments. On the whole considering bitcoin a threat banks has begun to adopt the technology behind the cryptocurrency.

[hotcoin1234]

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 does not see there will be any threat that will post to the banks by crypto in the current phase of bitcoin technology. We do see some vendors accepting bitcoins payment but in order for the crypto user to cash out to fiat we still need a bank for the currency we are using now. Unless some virtual bank is invented for crypto then the banks most probably will be greatly affected.