Does bitcoin pose a threat to banks?

[pekavcilar01]

The reason the banks do not like BitCoin is that the transaction fees are low.
With Blockchain, you can transfer money faster and cheaper. That's why the banks are against this stock market.
The banks started to implement blockchain in themselves. I'm following progress.
There was competition in the market. The bitcoin balances were overturned.

[buternasek]

And what about loans, mortgages and other similar operations. How can bitcoin provide this? Everyone will have a job, and banks may well coexist with bitcoin.

[tlqewcwf]

Banks are now very cautious in their attitude towards the special currency, and they are understandably worried that digital money will take away their customers and businesses.

[Flomo]

I do not think it will happen, because physical money is the economic link between countries. other than that bitcoin instability can not be used as a reference for payment. bitcoin is preferably an investment.

[Garrick Lee]

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.

[doodle07]

Yes it does. Because of the concept of bitcoin that is decentralized and digital it pose a lot of threat to banks. Like for example, the fees in transactions made are much lower than in bitcoin. Another is the accessibility of bitcoin, its fast and reliable. Banks should do some major move to embrace bitcoin and how would they deal with it because crypto currency would definitely be used in this era.

[shafi alam]

is bank going to disappear ?
i don't know.

maybe bank can change there terms & policy .
that will make live it.

otherwise it will vanish.

[primarydumz]

Of course it does pose a threat to banks because bitcoin is the first digital currency to have received wide spread recognition and interest from users, which providing a relatively low cost peer to peer transfer of money and bitcoin system is open 24 hours, seven days a week.  And also it is conceivable that bitcoin will find niche role as a medium of exchange. They will have a little reason to fear that bitcoin system will replace them.

[Wong Goblog]

Yes of course, when people can easily send money more safely and faster with bitcoin, then this has the effect that we do not have to queue up in the bank so it can be said that bitcoin is the biggest threat banks.

[Activitycoin]

I do not think it will happen, because physical money is the economic link between countries. other than that bitcoin instability can not be used as a reference for payment. bitcoin is preferably an investment.

Well to some extent you are right that fiat money and bitcoin currency are two different things and they have different features, fiat money has physical appearance while bitcoin is digital currency, but bitcoin is not just an investment but it is able to use as payment too, so I think people like to invest and use bitcoin as payment too.

[ohkkstaaahp]

This is absolutely true, now banks are afraid of losing a huge sum of money, the bank is afraid of losing a number of investors. Because most investors pour money into the Crypto market. Banks do not generate high profits, so they will not attract loyal investors

[Kakawate]

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?

As I see it, butcoin as well as the other cryptocurrencies does post a threat to banks. Last time I told my brother to open his own bank account, he told me, why should I open a bank account if my online wallet does the same thing too. If the young generation thinks the same way, then cryptocurrency does post a great threat to banks, I cant blame my brother, online wallets and trading sites are better than banks nowadays, but thats only my opinion.

[Israel712]

Yes, Bitcoin does pose a threat to banks in that it is a decentralized currency against what is operational with the banks at present.

[Batang Hambog]

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?

As you can observed, most of those people who appeared in news are those bankers who will say their opinion about cryptocurrencies and it would definitely be a negative opinion to convince others to continue to trust them and not pull out the funds of those who are already diversifying their investments.

[maxman190]

Bitcoin does not pose any threat to them, because it is more like a currency. " In addition, banks began to earn on the sale of various bitcoin products. Banks are almost encouraging the use of bitcoin, offering futures and allowing transfers to and from the exchanges.

[chichigirl]

For me,  yes, bitcoin is a threat to all banks,  as we all know,  there are more investors here and working good in trading.  Cypto trading is much better that doing some savings in a bank because in trading there is a great chance of earning big. In banks,  we can earn a small amount of interest from our savings.

[Coffeehot]

i don't think bitcoin can completely replace banks . the demand for money is diversified . such as some elderly people do not operate computers and mobile phones . they will still use the bank to transfer money and make deposits . people can get loans from banks . bitcoin cannot be realized . so bitcoin and banks will exist together .

[mrben77]

Crypto-currencies are not legal means of payment and are not backed by tangible assets. Some believe that they should be characterized as crypto assets, not crypto-currencies. in addition, they are mainly used for speculative trading, and not for payments. therefore no, there are no titles for banks here.

[Periodik]

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 don't think banks will disappear easily. They just need to be flexible enough to withstand the drastic change happening around. Bitcoin and the whole of cryptocurrency are going to be the new forms of currency. If the banks want to remain relevant in the age of crypto then they should learn to bend. Banks have to embrace crypto or else they will break and become only a thing of the past.

[Ashong Salonga]

For me,  yes, bitcoin is a threat to all banks,  as we all know,  there are more investors here and working good in trading.  Cypto trading is much better that doing some savings in a bank because in trading there is a great chance of earning big. In banks,  we can earn a small amount of interest from our savings.

Yes I do think so, bitcoin could pose a threat to banks. Bitcoin could be one of its big competitor especially that a lot of people are being encourage to use and invest in bitcoin.