Does bitcoin pose a threat to banks?

[main320]

Be that as it may, I don't think Bitcoin or any crypto is by then yet. Possibly in a couple of decades, yet excessively few individuals acknowledge it and just a couple of individuals are utilizing it in contrast with the total populace.

I am certain that digital currency, on the off chance that it gets enormous enough, would have the capacity to convey some harm to banks in light of the fact that the profits could wind up being more grounded than what banks can offer. Likewise, banks offer centralization. In the event that decentralization is the future, at that point, it bodes well that banks are would be frightful.

[7Dyoknga5]

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?

One reason why banks earn is when their services are used for transactions, like in credit or debit card.

If bitcoin will be accepted as payment in majority of shops and establishments, bitcoin will be a threat to banks' income.

But if we're talking about regulation of bitcoin, banks play a big part on it.

[nvt2511]

BTC is a great example of how simple we need to be. The financial industry needs to wake up. The banks are full of greed. BTC empowers everyone around the world to show the financial industry that they are wrong.

[BitProCoin]

This is a delicate thread. Banks needs to update their systems if they want to keep their clients, with Bitcoin by their side they may lose control, but at least not investors.

[aji567]

I think so.
Banks are currently very worried about the existence of bitcoin that could cause a bad impact for the bank, even the bank could disappear sometime.

[BlockFolksHQ]

Bitcoin is actually to replace bank in the first place. In the international transaction, bank will be the middle man and charge a very expensive service charge to both party and it also hard to trace whether the other party receive already or not. But in bitcoin transaction is just between both buyer and seller and is easily trace with less transaction fees.

[hibiscus]

Bitcoin  is likely a threat to the banks provided the entire global community is turning towards it for their day to day requirements it will reflect the banks adversely.Bank will charge the customer, processing charge and it will take the transaction time etc. Mean time bitcoin only need very little time and doing the direct transaction with out a third party interference Bank provides the customer a very nominal interest at the same time bitcoin gives  a good.profit out of it.Bitcoin will attract the entire community and it can be a threat to banks.

[Vertex_ICO]

I don't think that Bitcoin will eliminate banks but I do believe it will make them less of a necessity.

[qtronix]

I find that bitcoin and banks will work together, as cryptocurrency will not be able to completely replace banks, but they will work much better if they accept cryptocurrency.

[Kita Kita]

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

I think yes, bitcoin is totally pose a threat to banks, specially when bitcoin became more popular and there is no doubt that banks should pose a theats to banks because it has a chance that bitcoin can really replace banks in the future.

[Clara.Wilfred]

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?

100% YES

Blockbusters were comfortable until the internet come along and now where are they
Taxis were comfortable until UBER came along
Argos catalogues were sitting fine and dandy and then eBay/amazon took over

The list goes on, in my lifetime and probably more specifically in the last 10 years im seeing institution after institution getting blindsided and taken over.

When was the last time you purchased a newspaper!!!

[Gabb]

At first I was quite reluctant to think that bitcoin could really mean any threat to the current financial system, but given the way in which it is becoming popular worldwide and the greater ease with which people can access bitcoin, I think we should already take for granted that bitcoin has come to reformulate the way in which human beings have carried out our economic relations until now.

I do not know if this is enough to make the current banking system disappear, but without a doubt it is leading the banks to rethink in depth the way in which they have been doing things, and how they should adjust to the current times of change and technological innovation.

[kingvirtus09]

More likely a threat for a banks but ofcourse, alot of ICO now a days are creating tokens that is beneficial to banks however in the next few years we can't use banks coz it's a thirdparty user. We are aiming to have a peer to peer platform.

[snaper14]

when we see the recent inovations that threatend the corporations even though they were operating many years in the world, a threat to banks also is possible and if the community sticks together it is very possible to replace banks.

[minhlee95]

Bitcoin will reduce the number of banks, but it will not destroy them at all. And I think they can work together, because bitcoin will greatly simplify the work of banks.

[Hinugh]

I think it's hard, at least for government-backed banks, because banks have a lot of business, like loans, savings, and of course, savings are the most used. The price of bitcoin fluctuates, making it impossible for those who do not believe bitcoin to switch to bitcoin. And private banks, which may receive the impact of bitcoin, as will not collapse, who knows.

My own  opinion bitcoin pose is not treat to banks. Banks has lots of functions it is not only focus in savings. Bitcoin has different functions as well. I think that head of each bank and mandated by the government will look for way or a new functions that is related to bitcoin in the future.

[Blackhammer321]

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?

In a way it does post some threat to banks and to the banking imdustry. First of all, with the introduction of bitcoin investing it even more hurt the minimal amount of peolle that are investing in a savings bank. Which then really hurts the banking industry in some way. Moreover, bitcoin wallets are becoming more reliable and safer ways to save and store your priced investments which leaves vanks in the back of evetything.

[Lecam]

For my own opinion ,Yes it does because there are people who would prefer putting their money in Bitcoin rather than the bank,
People would think that they could have more interest or gain more money if they put it in Bitcoin .

[NyLymZbl]

could replace the bank, a small example in my country many people who can not afford the minimal technology. Is it possible they can get bitcoin, Maybe it could be in Europe or in the US can replace the bank, and already many ICO banks are popping up? Let's see how this develops.

[MyIdeas]

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 actually do not pose any threat to any bank but the real matter is that these banks do not know to adopt bitcoin and they do not know that how will they get the benefit from that currency. If they will know about the coin and they will learn that how will they adopt that coin for their banks and how will they get the benefit then nothing bad will happen to them but they will also start to get a profit from that field.