is it true that bitcoin is a disaster for local banks

[Marlo Stanfield]

Depends on the local regulations mostly. But if a bank is smart it should be able to turn it in to another way to make money offering financial services for Bitcoin. There's demand for it I think, since people have issues securing it themselves.

[1715102730]

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[burner2014]

Depends on the local regulations mostly. But if a bank is smart it should be able to turn it in to another way to make money offering financial services for Bitcoin. There's demand for it I think, since people have issues securing it themselves.

I don't think that it is a disaster to a local banks they are just thinking that bitcoin is their big rival, they don't even thinking first how they are going to make bitcoin or other crypto added to their business, but they think that crypto was a big scam, they are not yet changing the fact that we are now in a new era.

[Uyiosarugue1]

bitcoin can impact banks profit if it is allowed to thrive, but banks can also benefit from the blockchain if properly used

[kamoto]

Of course this is the purest truth. 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 ...

[Mix_Fix]

I don't think so. Bitcoin is great asset for countries with economic crisis, but developed and developing countries won't use it as main payment method! While BTC is slow and has high fees for transactions, it can reach global market.

[batang_bitcoin]

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

I wouldn't say that it is a disaster but it is a big threat to the banks if they will not do something before their worry comes into reality.

It can get their customers and people who aren't interested of decentralization might be interested if they will start becoming curious on how its working with bitcoin.

Bitcoin won't replace the banks but it can be one of their biggest competitor in financial industry.

[TahuDiniHari]

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

as far as there is no main reason why banks do anti-bitcoin. although some crypto lovers say banks are not able to compete fairly with bitcoin.

[kenmobility]

most times i wonder why banks should be afraid of bitcoin or crypto generally, crypto works hand in hand with the banks, to exchange bitcoin to local currency, one needs the bank, it can not be done with the banks, then i now wonder why they are being scared of bitcoin and it likes 

[kalstarzz]

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

yes, you are right, when all the people of the country start using bitcoin or altcoin in transactions, the bank will lose its role, the reason is clear because bitcoin does not need the role of the bank.

[a4techer]

For those banks that they didn't know how yo adopt bitcoin yes it is a disaster because we know banks was continues grow and everyone was know about or what to do of bitcoin but here in my country it is not disaster because some of the banks adopt and little by little embracing the world of bitcoin. If you know how to embrace new technology it never be a disaster to your business.

[Suguha]

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

For me yes, because bitcoin can also do what banks can, you can invest in bitcoin, you can save money in it and also you can earn in bitcoin. In banks before you can invest in it you need to pass some papers and you need to attend some appointments and also you need to have a lot of money and lastly bitcoin can multiple the money you earn in banks.

[xcajun21]

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

as far as there is no main reason why banks do anti-bitcoin. although some crypto lovers say banks are not able to compete fairly with bitcoin.

At the moment bitcoin does not seem like it has enough steam to say it's gonna compete with anything. Of course if the volatility was not an issue, and was more like gold (which also its a bit volatile), you could say that. BTC looks much more like a digital asset or investment rather, because you invest in something you think it's gonna have much more value in the future.

[TheClownSong]

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

I think bitcoin dont give big effect to local banks. Bitcoin used for transaction thru internet. Maybe give a effect but i dont think it give big impact because local banks mostly just for loan and saving

[digroske]

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, as a state structure, see in the cryptomir as a threat to themselves. Bitcoin is a powerful competitor for the banking sector. The state can not control bitcoins and therefore the state is against bitcoin.

[giantrobot]

Bitcoin is not a disaster for banks, because Bitcoin is used with a different function than a bank. Banks use to finance, lend, do some national work, it is easier to use than Bitcoin. Bitcoin will need a lot of new elements to replace the bank.

[Stac]

         I don't believe that Bitcoin is a disaster for local banks . Actually the banks are the driving force for the public towards Bitcoin, the main cause is the distrustful faced by the public in fiat currency and also the financial crisis and Bitcoin will not  bring any disaster to the banks . To me the inflation in fiat currency is caused by the banks they make money out of debts they are covered by deposited money so I say that banks are those who create disaster not Bitcoin.

[NavigateSamurai055]

Still it is not true as far i know because in most of the countries it is still ban so, bitcoin is unable to fall ant impact to the local banks but may be in future it may prove to be so.

[Loreto Padolina]

Yes that is why they are against in Bitcoin

[Jofel]

I do not think so. The function of banks and bitcoins are not the same either. But, what's the same is the circulation of money. You invest in banks as well as in Bitcoin, you earn money in banks as well as in bitcoin but it doesn't guarantee that bitcoin causes disaster to banks. I think, when you are going to look at it in a different angle, much people now invests in bitcoin than in banks. Apart from the fact that it is decentralized in bitcoins, more people nowadays prefer to handle their own money. In the contrary, people who wants to have their own business actually goes through bank to bank when you talk about the financial legalities. Therefore, it really depends on the people.

[brooklynian]

Cryptocurrency may be a disaster to the banking industry to an extent but not entirely. This is because a good percentage of investments going into cryptocurrency are from the bank accounts of the investors. It would have been easy for banks to recover part of this if they are freely able to engage in cryptocurrency.