Does bitcoin pose a threat to banks? - page 10.

Kakawate

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Quote from: tlkchain on January 26, 2018, 10:22:53 PM

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?

As I see it, butcoin as well as the other cryptocurrencies does post a threat to banks. Last time I told my brother to open his own bank account, he told me, why should I open a bank account if my online wallet does the same thing too. If the young generation thinks the same way, then cryptocurrency does post a great threat to banks, I cant blame my brother, online wallets and trading sites are better than banks nowadays, but thats only my opinion.

ohkkstaaahp

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“The Premier Digital Asset Management Ecosystem”

This is absolutely true, now banks are afraid of losing a huge sum of money, the bank is afraid of losing a number of investors. Because most investors pour money into the Crypto market. Banks do not generate high profits, so they will not attract loyal investors

Activitycoin

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Quote from: Flomo on May 07, 2018, 02:51:20 AM

I do not think it will happen, because physical money is the economic link between countries. other than that bitcoin instability can not be used as a reference for payment. bitcoin is preferably an investment.

Well to some extent you are right that fiat money and bitcoin currency are two different things and they have different features, fiat money has physical appearance while bitcoin is digital currency, but bitcoin is not just an investment but it is able to use as payment too, so I think people like to invest and use bitcoin as payment too.

Wong Goblog

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Yes of course, when people can easily send money more safely and faster with bitcoin, then this has the effect that we do not have to queue up in the bank so it can be said that bitcoin is the biggest threat banks.

primarydumz

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Of course it does pose a threat to banks because bitcoin is the first digital currency to have received wide spread recognition and interest from users, which providing a relatively low cost peer to peer transfer of money and bitcoin system is open 24 hours, seven days a week. And also it is conceivable that bitcoin will find niche role as a medium of exchange. They will have a little reason to fear that bitcoin system will replace them.

shafi alam

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is bank going to disappear ?
i don't know.

maybe bank can change there terms & policy .
that will make live it.

otherwise it will vanish.

doodle07

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Yes it does. Because of the concept of bitcoin that is decentralized and digital it pose a lot of threat to banks. Like for example, the fees in transactions made are much lower than in bitcoin. Another is the accessibility of bitcoin, its fast and reliable. Banks should do some major move to embrace bitcoin and how would they deal with it because crypto currency would definitely be used in this era.

Garrick Lee

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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.

Flomo

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I do not think it will happen, because physical money is the economic link between countries. other than that bitcoin instability can not be used as a reference for payment. bitcoin is preferably an investment.

tlqewcwf

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Banks are now very cautious in their attitude towards the special currency, and they are understandably worried that digital money will take away their customers and businesses.

buternasek

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And what about loans, mortgages and other similar operations. How can bitcoin provide this? Everyone will have a job, and banks may well coexist with bitcoin.

pekavcilar01

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The reason the banks do not like BitCoin is that the transaction fees are low.
With Blockchain, you can transfer money faster and cheaper. That's why the banks are against this stock market.
The banks started to implement blockchain in themselves. I'm following progress.
There was competition in the market. The bitcoin balances were overturned.

hotcoin1234

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Quote from: tlkchain on January 26, 2018, 10:22:53 PM

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 does not see there will be any threat that will post to the banks by crypto in the current phase of bitcoin technology. We do see some vendors accepting bitcoins payment but in order for the crypto user to cash out to fiat we still need a bank for the currency we are using now. Unless some virtual bank is invented for crypto then the banks most probably will be greatly affected.

romero121

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Vave.com - Crypto Casino

Quote from: Nivir on May 07, 2018, 01:26:22 AM

This world is governed by banks. Banks are behind the current financial system and are monopolizing it. So why will banks not destroy decentralized digital currencies that they cannot control?

Banks were behind the financial accessing of each and everything an government initiate. By this time when something decentralized competing with the banking system will surely be taken into consideration by the governments. On the whole considering bitcoin a threat banks has begun to adopt the technology behind the cryptocurrency.

Ch01ce0N3

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I think the existence of the bank will still exist even though digital development and bitcoin continue to increase significantly. The presence of bitcoin will not be easy to replace bitcoin even though people start switching using bitcoin.

MUSFIKAR

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Yes, since it is not just Bitcoin that threatens them, it is the idea that currencies should not be centralized and that with the correct codes, approaches, communities, and decentralized coin development teams not only work but can also grow and be accepted by people . If you tell people that this will happen a few years ago. As you can see, most of the people who appear in the news are bankers who will say their opinions about the kriptocurrancy currency and it will certainly be a negative opinion to convince others to continue to trust them and not withdraw funds from those who have diversified their investment.

Nivir

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This world is governed by banks. Banks are behind the current financial system and are monopolizing it. So why will banks not destroy decentralized digital currencies that they cannot control?

zarados

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Quote from: Doge dealer on May 06, 2018, 06:49:59 PM

no it should not as both can be complementary but if banks continue to refuse to do some transactions such as banning people from using their cards to purchase bitcoins then it will very much become one because people will purchase the coins without them and might stick to these channels that allowed them access.

Probably, something you do not know right now that is the purpose of the ban by the banks to make transactions purchase cryptocurrency by using their products in the form of credit cards. Because since 2017 increased use of credit cards for the purchase of digital assets more rampant, and it is considered very risky. inevitably, banks should discontinue use of their products in use for digital asset purchases because it is feared that NPL (Not performing loan) value will increase because of it.

Doge dealer

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no it should not as both can be complementary but if banks continue to refuse to do some transactions such as banning people from using their cards to purchase bitcoins then it will very much become one because people will purchase the coins without them and might stick to these channels that allowed them access.

Kate_Ngubanga

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I believe that banks have something to worry about. The fact is that for many years all innovations in financial technologies have affected only the applied level. Crypto currency is something else. A new ecosystem is starting to form, which has nothing to do with the existing infrastructure. The first clients are people who for one reason or another do not have access to the financial system.

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