Does bitcoin pose a threat to banks? - page 11.

Kingjagat

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Quote from: shawa on April 30, 2018, 04:39:20 PM

BITCOIN DOESN'T POSE A THREAT TO BANKS BECAUSE BOTH OF THEM NEED EACH OTHER

I think Obviously other BTC and Cryptos are competing with this and therefore you can expect heavy resistance.
. The majority of government power is derived from their ability to print money without stopping from the air.

Vanester2014

member

Activity: 236

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Borderless for People, Frictionless for Banks

Its not like that but i think bitcoin and other crypto currency is a bit problem in traditional banks because they cant control the transactions that came from crypto currencies. Even governments thinking about this thats why they put a strict regulations about crypto because they cant hold of freeze crypto currency when scammer attacks.

Jacata98

newbie

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I guess, bank will not disappear, i can see a greater changes in technology and hoping that bank may change and adopt the digital currency. If the banks may change, the banks will not totally disappear.

lukas52

newbie

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Actually bitcoin and the banks is not a rival in terms of currency exchange,so therefore why should digital currency investment become a threat to banks,definetly there is a feed news that there is coming threaty between banks and cryptocurrency to help promote the economic growth by means of exchange trading market ,and this is done by the central bank of the phil,that they stated they are willing to collaborate in crypto exchange interms of investment.

Alanpigi80

full member

Activity: 322

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You guys are right. Big and solid banks have nothing to fear from cryptos; they're just too much powerful among the masses. When will be the time, they'll own their bank related crypto or integrate bitcoin or eth in their circuit

TrufieldICO

newbie

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No Bitcoin does not pose s threat to banks. I think the question is. Do banks pose a risk to Bitcoin and the answer to that is a big Yes

wtbhitlv

newbie

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That's true. Bitcoins can provide a lot of bank functions. If bitcoin is developed vigorously, it will gradually replace a lot of banking business. Bitcoin is more efficient than bank, low cost and anonymity is a lot of customers.

Lektor188

newbie

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Theoretically, of course, bitcoin can destroy the banking system of the world, provided that everything in the world will be used to calculate the cryptocurrency. However, there are no specialists who would consider this scenario seriously. Although, of course, the number of non-cash transactions according to the Boston Consulting company will grow to $ 780 trillion by 2023, which pushes the horror on banks that have received a serious competitor.

gadimbrut

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I think the bank can run along with bitcoin, but most bank people think that bitcoin is a threat to the bank. but in my opinion the bank will remain in there and bitcoin will not eliminate the function of the bank

dexentrali

newbie

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I don't think so, bank will remain because it's already part of the human history and not everyone knows and use bitcoin yet specially those who are still in third world country or in remote areas, for them they still need to use fiat for everyday use and also some still prefer to use bank rather than bitcoin.

peynman

newbie

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I think bitcoin pose as a threat to banks as a competitor in investment, bitcoin gets the attention of some people to invest with, rather than banks, but it cannot replace the traditional banks.

tazman

member

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I think their rivalry is more imaginary than actually exists. Banks have a number of operations that are not within the competence of bitcoin, so I do not consider them real competitors.

roccstar

full member

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Bitcoin pose a threat to small banks but in the major banks are not afraid. Major Banks will stay since they are a prominent entity in the financial workings of a country and backed by the government.
Bitcoin aims to remove the role of the small banks or any authority and brings back to the people the freedom to manage their own funds and could do any transactions to any stranger in the world anytime. This makes people love bitcoin and more and more people shift their wealth to bitcoin. This poses a big threat to banks and could destroy them.

jayarbillones

newbie

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Bitcoin will do what emails did to post mails.,The crypto world is a threat to banking system. A major reason why some countries are banning bitcoins because they feel it might affect the distributions of fiat currency. Most probably they would also incorporate the blockchain in their systems.

brengoskandel

member

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Yes, it does. The problem with Bitcoin is not the currency itself but rather the lack of any governing body regulating the exchanges. Without regulations, it is very difficult to track the transactions.
Bitcoin is independent from any central bank or any sort of manipulation by any government on the planet. People who use and create Bitcoin are those who are in charge of its future. That is the most important purpose of Bitcoin. Most of the early adopters of Bitcoin were libertarians and innovators, but today bigger part of the global society is starting to use Bitcoin. Now, people have an alternative. They can store value or trade with it without any control of the elite parts of the global society.

Genamant

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Trphy.io

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?

For me the banks are threatened by the crypto market as their investors will go down. But i do not think crypto has the capacity to make banks disappear. But if bankers coordinate with big btc traders then both can make money and also can help people.

ajiejot

full member

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Merit: 112

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?

For my own opinion, YES! Bitcoin is a really threat to banks, but for me banks will not totally disappear, there are still other people that they are still more comfortable to use banks, there are still people don't know cryptocurrency, we cannot force them to use cryptocurrency. We should respect their decision.

CoinstarF

newbie

Activity: 154

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Quote from: pxo.011 on January 27, 2018, 02:32:14 AM

yes it is while many of other people dont know about bitcoin but if they do they would really invest in bitcoin than time investment in banks, and the bank was triggered by the crypto because the money will not roll to them

Yes bitcoin does a threat, it's because investors are prefer to choose of a big profit, forecasting that bitcoin has grown rapidly rather than banks stated only of limit interest of what they can offer.

wewe123

member

Activity: 322

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🚀🚀 ATHERO.IO 🚀🚀

If bitcoin is getting stronger in the business , there are people who do not want to go into business like bitcoin which is risky that they do not familiar with computers ,so they rely their money in the bank without risks so banks is still going in business and it will not vanish totally but thereis a competetions between banks and bitcoin investments.

nellakarisma

full member

Activity: 582

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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?

bitcoin is unlikely to get rid of the bank. because everyone is not necessarily able to invest in bitcoin due to lack of understanding. some likes to make transactions favorable to the Bank rather than using others, My hopes of bitcoin and Bank can go hand in hand together. or for this reason the Indonesian government forbids its people to trade in buy and sell transactions using crypto .

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