is it true that bitcoin is a disaster for local banks

[Jericka D Ranillo]

I guess not, cryto is good and can be alternative for banking/saving money but the fact is not all people have knowledge about bitcoin. Even the time  passes by, we cant ignore the fact that there will be people who against and choice to live like what they are now. Also, people who not totally in on new world

[EmmaBen]

Whatever you do, you still need your fiat currency to spend your cash. And, this will require the services of your local bank. Because bitcoin use is not widespread and bitcoin is not widely accepted, compared to normal banks, it cannot be a disaster for banks

[mekie]

No. For the reason that bitcoin is not at the moment universally accepted and secondly the banks don't need bitcoin to cause them disasters they do a fantastic job of that themselves-just look at the scandals surrounding the banking industry anywhere in the world. 

[amaydel]

IMO, bitcoin/cryptocurrencies and banks can be pictured out as what happened to e-mail and postal services. If bitcoin/cryptocurrencies will be fully utilized as an alternative to fiat money, then bitcoin can surely be a disaster for banks locally or internationally.

[satria2]

A lot of things will happen with the Bank if Bitcoin starts a lot in interest of a country from the Bank because you will invest your money in Bitcoin again not to the Bank.

[iMark]

The purest truth. In a world in which the crypto currencies will win, banks simply will not be needed by people. No, but seriously, for what purpose will people continue to use them?

The possibility exists but if the government remains in its stance to impose limits on the use of bitcoin and still provide fiat or local currency as the main currency, of course the bank will continue to exist, or the second choice is the bank to cooperate with crypto so that no one must beat each other

[zikzag]

Banks do not take bitcoin seriously. Because no one uses bitcoin as an everyday means of calculation.

[Kira_lapa]

At present, the situation depends on the ruling bodies of states and banks and it will be very difficult to destroy the banking system, because it has more power. The only thing banks can do is work with crypto-currencies.

[cryptoSchultz18]

I heard the news, that banks are afraid of bitcoin and can replace banks, because the excess of bitcoin is much compared to local banks

Actually, one of the benefits of bitcoin is easy the experience users struggle with international and local banking transfers. It’s more about the blockchain technology, not bitcoin. Banks have started adopting blockchain and they will highly benefit from it. Furthermore, the mainstream bank clients don’t trust bitcoin so I would not expect a major shift in this regard.
Nevertheless, my personal conviction is that blockchain and bitcoin are always about opportunities, not limitations!

[dat.ho12492]

IMO, bitcoin/cryptocurrencies and banks can be pictured out as what happened to e-mail and postal services. If bitcoin/cryptocurrencies will be fully utilized as an alternative to fiat money, then bitcoin can surely be a disaster for banks locally or internationally.

You are dreaming of bitcoin's power too much, I do not even see it as the catastrophe of the bank, I just see it starting to show weakness with the bank, the value of bitcoin is almost a slap for everyone, dream and hope, want to replace cash and bank. And the end result is still a loser, banks are always high and high mountains while bitcoins are in recession and many people doubt that it will end, disaster for the bank, it really is a joke

[Fmradio98]

The main time I figure it will be a fiasco for banks will be if government will permit bitcoin exchanges to run uninhibitedly. Individuals who can securely store their own particular finances in an advanced wallet will do that as opposed to squandering hours at the banks enrolling, lining up, paying expenses previously they can money out their cash

[Myown55]

well,It used to be the case few years back. Now a lot of banks worldwide are seeing the need to incorporate bitcoins in their operations. Do not be surprised to see banks offering bitcoin transactions.

[jonaire99]

I heard the news, that banks are afraid of bitcoin and can replace banks, because the excess of bitcoin is much compared to local banks

Banks don't like the way bitcoin is created by being a decentralized currency but they are not afraid of it. Major banks are also planning to integrate cryptocurrency in their system by either adopting an existing coin or creating their own coin. Ripple is one example which is adopted by some banks and payment networks. In the future, many banks will also create some sevices that involves with the use of cryptocurrencies.

[dav-santoshi]

bitcoin has blockchain, the technology that powers Bitcoin and other cryptocurrencies, is that it can “create trust”, or allow two parties to make a transaction “without relying on trust  this means we could create a world without a trusted “man in the middle”. We could have financial services without a bank verifying transactions and we could transfer ownership with all this unique features of bitcoin most banks believed its a disaster to them

[jayveerastrullo]

This a real scenario happening now with me and with my friends. So I am really into investing on banks and stock market same as my friends. Then we discovered cryptocurrency we read articles about it and did some research and we learned that gaining money here is faster compare to investing on local banks. So now I am using banks for savings only.

[Rellbellerise]

In banks, the sense is lost as in an intermediary, they will no longer be necessary. I even venture to say that bitcoin is a threat not only for banks but for the entire financial system of the world ... so that the dollar may disappear in the foreseeable future. So we live in a very interesting time ...

[Zadeket]

Whatever you do, you still need your fiat currency to spend your cash. And, this will require the services of your local bank. Because bitcoin use is not widespread and bitcoin is not widely accepted, compared to normal banks, it cannot be a disaster for banks

I don't think so, because banks will not die by bitcoin. To use bitcoin there must be a strong and stable internet network. Without that, our money in a bitcoin wallet will not be usable. Unlike banks, physically there is money so even fools can use money in the bank

[Hiroyuki879]

Why are bankers afraid of Bitcoin’s impact? Easy, it will lead to ripples across the financial sector, it will create new winners and losers, and it will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined. In fact, this is what the Internet of Value is all about—erasing the distinction between bartering, money and service exchange in any market. Once each potential good has a financially tradable and storable equivalent, “a bitcoin,” if you will, trade will explode in a myriad of directions impossible to predict by current algorithms. Intermediaries will come and go, and the end points of exchange nodes will become more important. To many bankers, this is a scary thought. To everyone else it is likely quite liberating.

[MAJICOIN]

I think bitcoin is doing well because it is not causing any harmful affect to their customers but i am sure that in the coming years crypto market will be on number one currency. Bitcoin is not a disaster for banks but bitcoin is in itself a huge market and i think that people will use both forms and fiat is also useful because whenever you need local payments you can enjoy it.

[fakegurutu]

I heard the news, that banks are afraid of bitcoin and can replace banks, because the excess of bitcoin is much compared to local banks

The rapid rise of bitcoin internationally gives a threat not just for local banks but of all types of banking system around the world. Bitcoin had almost everything you need that the banks cant and if the banks can, then in bitcoin its less than that it is with the banks. People were slowly jumping on to the crypto and making some adjustment there and leaving banks behind.