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.
Topic: Does bitcoin pose a threat to banks? (Read 1927 times)
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.
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.
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.
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
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.
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. 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.
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.
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.
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.
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.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.
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.
Yes it's a threat to the banks more capital move from bank to the crypto community because so many investors now understands the profit one can make from the community than banks.
It is very possible due to the fact that, most investors now transfer their capital to the Crypto market. Few people send money to banks, because bank interest does not help us as rich as investing in BTC. This is a threat to the bank, a serious shortage of capital. And loans are also declining i.n every possible way
Looks like bitcoin is hard to be a threat to the bank. Banks have slightly different functions and roles than bitcoins for now. So bitcoin runs on its own, as well as with banks.
I don’t think bitcoin threatens the banks, however it’s a threat to how they are operate. Blockchain and bitcoin have the power the change the industry dramatically over the next 10 years.
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 the bank will disappear is not possible, because the government always make new regulations if there is something that concerns about the financial industry in order to be monitored and always observed its development.
The emergence of Bitcoin as a real threat to the Central Bank, reaps a lot of controversy around the world.
In my believe I think that bank will use all their experience and wisdom to adapt to bitcoin if it will became a currency used in whole world.
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