Does bitcoin pose a threat to banks?

[patykuprova]

Yes bitcoin poses a threat to banks. As banks are one of the most powerful organizations in the world, they are continuously putting on pressure on government to ban it.

Bankers are thinking that in the nearly future, Bitcoin could push banks away from their jobs and stealing jobs of banks because it's more advance with the new technology and noone can cheat it or create the corruptions due to the blockchain system.

[1714682074]

1714682074

[1714682074]

1714682074

[G2z_Riya]

Yes bitcoin poses a threat to banks. As banks are one of the most powerful organizations in the world, they are continuously putting on pressure on government to ban it.

Bankers are thinking that in the nearly future, Bitcoin could push banks away from their jobs and stealing jobs of banks because it's more advance with the new technology and noone can cheat it or create the corruptions due to the blockchain system.

Banks might have got such a thinking looking at the growth of bitcoin, but in reality this is not a threat. This has lead to a competitive and healthy growth. Banks will function in the right manner, and bitcoin will serve as the alternative to the banking needs fulfilling the necessity of common people.

[XpanderaX]

Yes I think so, Bitcoin Is Digital Money that can be used for sale and purchase transactions like conventional money. while the Bank is the institution governing and managing Conventional Money. of course later between Bitcoin and Bank will compete to win the hearts of people to use their products.

[Cherylstar86]

On my opinion, yes it pose a threat to banks but somehow those banks already anticipated the probable situation that might be happen. Here in my country most banks aware the crypto currency which they already know about it as they can accept bitcoin to fiat money as it really helps those banks cash out our shares.

[Casey7]

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?

you are right that the bank will actually disappear when bitcoin is in effect worldwide, if the bank does not fix itself then they will lose their role if this is not they want then the bank should add their function, for example, to be exchager or others.

There has to be something interesting that the Bank will not miss its customers, it's like an attractive promo as well as many other sophisticated features. If viewed from the sophistication of the blockchain technology used by Bitcoin is an extraordinary thing. If this is maintained and no changes made by the bank then the Bank may disappear.

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.

[missyqt29]

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?

This similar scenario can happen in banks but it will take many years before it can happen. Banks play a major role in the society while cryptocurrency grows and reaches many industries. Bitcoin needs to mature more and become more common in the society.

[Grayy]

Bitcoin is a possible threat and most probably, its developers will create more innovative aspect which can pose more threat to banks. Honestly, the continuous growth of blockchain technology will dribe us to a more techie yet efficient econimics, its just a matter of timing.

I think the banking system will add blockchain technology to their mode of operation over time. Blockchain has become hotcake and the bigger banks and even bigger firms are embracing the technology day by day. Banks may introduce their own digital currency in ht future to compete with other well-established cryptos like bitcoin.

[Bruce1614]

Obviously it is a danger to banks that is the reason they are considering approaches to influence individuals to believe that putting resources into bitcoin is awful thought and their cash will be useless later on. As you can watched, a large portion of those individuals who showed up in news are those brokers who will say their sentiment in regards to digital currencies and it would be a negative supposition to persuade others to keep on trusting them and not haul out the assets of the individuals who are as of now broadening their ventures. Since banks are huge wellspring of assessment also then they have an energy to impact the choice of government and afterward make up a few stories with the goal that legislature would boycott cryptos in light of the fact that they fear it.

[Aryadwipanggah]

I think bitcoin poses a serious threat to the banking world, investors when investing into bitcoin it is certain banks will diminish their customers on the other side in terms of bank income will not receive taxes from investors who invested their money into bitcoin

[lester04]

Banks are afraid in bitcoin popularity and many people involve in its boast so the government always make a news to elimanate bitcoin because  if bitcoin continously rapidly grow lots of people will invest in crypto and only a few people will save their money in banks and this is bad for them.

[PalindromemordnilaP]

Imagine a multiple money transfer and transaction to cross borders without bank charge at all through the use of blockchain. Others might also be using digital wallet to safekeep their money rather than using banks and that will hurt bank for sure.

[cuongkenh22091996]

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.