[2014-07-24] how-the-growing-bitcoin-market-will-cause-a-3-4-trillion-disruption

[ganabb]

https://moneymorning.com/2014/07/23/how-the-growing-bitcoin-market-will-cause-a-3-4-trillion-disruption/

A tsunami of disruption - courtesy of Bitcoin - is headed directly for several sectors of the financial services industry.

Some of these companies may adapt to a world in which the digital currency plays a major role, but most are likely to become Bitcoin market victims - companies that will struggle and possibly disappear altogether.

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[nwfella]

Hopefully it will only be a matter of time.  Bitcoin or some derivative of it.  Would love to see these systems disrupted within my lifetime.

[Kprawn]

Well VISA and MasterCard is going to be pissed off, if I look at their share.

They have been sucking us dry for years. But they will buy into this and find a solution or alternative way to keep their market share.

[Sutters Mill]

I'm not sure if 'destroying' all existing financial services is a good idea, but slowly phasing them out or they learning to adapt to the bitcoin technology is. I think they will have to adopt them to sruvive eventually but it should be a gradual and smoothe process.

[gmx95]

https://moneymorning.com/2014/07/23/how-the-growing-bitcoin-market-will-cause-a-3-4-trillion-disruption/

A tsunami of disruption - courtesy of Bitcoin - is headed directly for several sectors of the financial services industry.

Some of these companies may adapt to a world in which the digital currency plays a major role, but most are likely to become Bitcoin market victims - companies that will struggle and possibly disappear altogether.

I don't think it will be the way the article predicts it. Many "moms" and "dads" will continue to use fiat and conventional payment processors for many more years. If it comes to it, companies like Visa or MC would probably adapt and include bitcoin into its network somehow.

[marcus_of_augustus]

... the tide went waaaaaay out, it's on its way.

Don't run down to the beach to look at the stranded fish kids.

[Ron~Popeil]

I do think bit coin will eventually displace most of the current payment processors, but in the short term it will simply augment fiat payment processing. People are slow to change and especially so with their money.