Does bitcoin pose a threat to banks?

[david0ikari]

Big Banks have been thinking on it for a couple of years now. I think the best interest for them is to be part of the game to pump the money on the market.So does bitcoin pose a threat to banks not now

[criss ronaldo]

If governments and the banks co-operate, it is best they coexist before finding a safe exit plan for banks if that becomes necessary. But certainly, bitcoin does pose a threat to banks, not just because banks could disappear but because even if they do not, the space for their dominance and wanton 'fraud' is being and would be greatly limited.

[Powerpuff]

As a medium of exchange, bitcoin is still small compared with traditional channels, and it is held largely for speculation rather than transactions. Its lack of a mechanism for dampening the price effect of an increase in demand or reducing supply in case of a demand slump means that adopting bitcoin as a currency would be like reverting to a currency based on gold coins. As long as central banks continue to pursue stability-oriented monetary policies, they will have little reason to fear that the bitcoin system will replace them.

[amaha cris]

I think banks will never disappear if the bank could follow the changing times because it is currently in the presence of such digital currency bitcoin honestly people don't need to use the bank to store the assets owned, save assets can be proven more bitcoin wallet gives you many advantages and without any monthly fees.

[simaislam]

Yes, it's a massive threat. Cause it's not only bitcoin which threatens them, it's the idea that currency doesn't have to be centralized and that with the right code, approach, community, and dev team a decentralized coin can not only work but it can thrive and be accepted by people.

[rudito]

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 think that's true. The world of crypto is a threat to the banking system and the main reason why some countries ban bitcoin because they feel it will affect the distribution of fiat currencies. Bitcoin is decentralized and can be used easily, bitcoin also has a value that allows continuous increase.

[deepakg2m]

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 photographic industry, compact discs (CD) for music ,etc. have not been eliminated but have suffered a downfall .Today also in parties and functions photographers have a great importance and DJ's still use CDs .Similarly, banks will never disappear because of BITCOIN or cryptocurrency.

[Akichiva23]

Yes it does, Bitcoin is the worst nightmare to bankers and Banks, It increases the effectiveness of transactions and keeps the people involved anonymous.its also safe and keeps all the transactions secure.  quality that the banks havnt been able to provide to its clients, people may therefore opt for BTC instead of banks

[Superways]

they may try to impose restrictions on financial platforms that deal with crypto currency operations in order to force them to follow international agreements.

I hope that they will not do like that and they will understand the real benefit of cryptocoins and they will also adopt this currencies for their banks. If they will adopt bitcoin and other cryptocurrencies for their banks use then they will also get a huge benefit from this coin as many people and many companies are getting from it from many years and they are much happy with this field. Banks will also be much happy.

[Menawi12]

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 think bank will still alive. Banks have good system and they will adapted with any technology development, beside that banks have good insfratructure to sustain their bussiness

[otong]

I think banks will never disappear if the bank could follow the changing times because it is currently in the presence of such digital currency bitcoin honestly people don't need to use the bank to store the assets owned, save assets can be proven more bitcoin wallet gives you many advantages and without any monthly fees.

it took a very long time if banks accepted bitcoin as their asset. bitcoin has an anonymous nature so that all can use bitcoin without their personal identity. so banks may be afraid of future fraud, theft and other actions that harm others. Suppose there is bitcoin that controls definitely many banks will use it.

[zhundy]

bitcoin and crypto currencies does threaten banks in the way we see it today because the goal of crypto is to change the old and rusty financial system banks have two choices either attack crypto with false pretends and accusations in order to protect their own systems or benefit from the block chain technology and start thinking about change , a change that could benefit the whole world   

[tony kurniawan]

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 think bitcoin can pose a threat to government banks, and that's the main reason governments try to ban it by all means because they can not control bitcoin.

[sofiasalmon]

yes it is while many of other people dont know about bitcoin but if they do they would really invest in bitcoin than time investment in banks, and the bank was triggered by the crypto because the money will not roll to them

[taxli]

There are some banks who came up with own blockchain system and there are those who decided to be the part of the exicting advanced technology which shows that they are willing to change in order to coexist with the crypto currencies that have strong influence on the worl economy nowadays.

[AurumService]

For now banks are safe because they use old, traditional methods of management, financial transactions etc. But the more time flies the more they will have to change to modern reality.

[christina30]

Yup could be some country banks wants to be a part of it. Also people could access easily.its also safe Which is the fact that they transfer their money anytime even in home. Also some government sector some country approved to be part of it as the can access through online payments using bitcoin which can automatically converted to fiat.that my opinion only

[jpespa]

I don't think so and banks will never disappear since it supervised by the government and I also don't think that bitcoin can overwhelm the bank and fiat currency since it is and will forever be our main medium of exchange in all transactions. Maybe in investment field bitcoin could overwhelm our bank since bitcoin can earn money faster than bank that only gives you 1-2% annually.

[AnnaGeraMsk]

I think that while there is no regulation, this is happening, as now many investors take money from banks and the real sector

[Blessed J]

I think Bitcoin is a whole new idea which comes with its benefits to the world. I believe that bitcoin has come to solve the problems that banks faced and for that matter should be accepted. I think governments should consider accepting it so that we people can have wide range of opportunities as to choose banks or bitcoin.