Topic: Does bitcoin pose a threat to banks? - page 12. (Read 1914 times)

Right now banks  is still more better than bitcoin, but i believe in the future a lot of people in this world will surely choose to put there money with bitcoin rather than to put it in banks, and when the price of bitcoin will became high a lot of people will surely invest there money with bitcoin.

Definitely bitcoin poses a threat to banks existence because people would no longer transact business with them and bank's main source of income is the transaction fee they collected from customers. If they lose customers then they will lose their income.

this is just waiting time for bitcoin to be received in all countries of the world. if this has been approved, then bank will no longer be useful, and we will see them close. but I think this is difficult. because the bitcoin has an unstable value (fluctation), while the country needs a currency that has a stable value. to accurately assess an item. and the state needs an institution that regulates  financial system to stabilize it. while bitcoin is not regulated by an institution. everyone has right to have as much bitcoin as possible.

Bitcoin BTC is the first digital currency to have received widespread recognition and interest from users, developers, investors, central banks, and regulators, largely because of its “distributed ledger” technology, which allows it to provide relatively low-cost peer-to-peer transfers of money. Users own the bitcoin system and can make changes to the rules and protocol only by consensus or a supermajority of 95 percent. This communitarian ownership model and the fact that payments in bitcoin can be easily made from one end of the globe to another have led many to believe and hope that bitcoin will one day replace sovereign currencies—and the central banks that issue them. In addition, some observers see bitcoin as the origin of a fundamental transformation of the financial system toward a more decentralized structure. As a medium of exchange, bitcoin is still small compared with traditional channels, and it is held largely for speculation rather than transactions. Its lack of a mechanism for dampening the price effect of an increase in demand or reducing supply in case of a demand slump means that adopting bitcoin as a currency would be like reverting to a currency based on gold coins. As long as central banks continue to pursue stability-oriented monetary policies, they will have little reason to fear that the bitcoin system will replace them.

yes.  100% bitcoin affect the banks and government. It will result in less tax collection and many other affects to the goverment and banks..

No Bitcoin is a threat to the bank. It's a complete lie. Private bank, who can take the effects of Bitcoin, who knows who will not fall, who knows.

Compared to the overall contribution of banks, what we're at present is very small. Maybe in future banks might consider bitcoin as a threat while the growth takes place in a large scale with support from governments. As a beginning to the same banks too have started to make themselves advanced with the blockchain technology. More banks were creating their own blockchain.

Against bitcoins, war is waged not only by banks, but also by the government, as governments and banks work together.
In many countries criminal penalties are imposed for the use of bitcoins, arguing that bitcoins are used by criminals to pay for illegal activities on the Internet.

chances are it could happen that's why they think of a way to make people think that investing in bitcoin is a bad idea. But if I think it is difficult if bitcoin threatens the bank, because banks around the world have been accepted in each country respectively. Bitcoin is still the stage of development so naturally if the bitcoin is hated by the bank. So just look at the future to come.

Yes it does ,bitcoin has become a big treat  to banks worldwide because people are not saving their money in banks again instead investing it in Cryptocurrency because the turn over is very high

I think bitcoin does pose a threat to banks that's the main reason the government tries to ban it by every means as they are not in control of it

Bitcoin can pose a threat to the bank because people will use bitcoin and cryptocurrency as payments domestically and abroad then the bank can not have a fee for such transactions.

Bitcoin is a huge threat to banks which are trying to get rid of paper money. Fortunately, they were stopped by Bitcoin and many other cryptocurrencies which were created in the last few years. Many people started to understand the concept of cryptocurrencies which might not be easy for everyone but if we help other with it then we will quickly achieve high adoption level. Banks earn on fees and lending our money to others. They won't exist in the future if they don't have any deposits. That's how it might end.

To be honest, i do not think that there is gonna be a "war" just like many people said before.

It is only fiction for a lot of people in here, and it is almost impossible to see it happening in a near future.

I do not believe in the disappearance of banks because of the btc. Banks make loans, advisors, securities placement, and so on, all activities that will not be lost due to the presence of the btc. Perhaps only their role as intermediaries in payments will be reduced.

Obviously, they lose with digital currencies, because they are not under their control, since they are not what they can invest and earn

Looks like bitcoin slightly threatens the bank. Because some bank investors may have tried to sell assets or shares in the bank to try to invest in bitcoin or other coin.

Comparison of kodak with banks  is not fair.  Kodak did not change itself with the  change of time so it failed because with the use of digital cameras the camera films were of no use and kodak was just producing  and was just dependent on the old technology.  Kodak did not adopt latest technology that is why it failed.
When we talk about bank ; banks are already diverting their activities towards digitalisation of their transactions.  They are motivating their customers to use more and more digital transactions. 
Major part of their transactions has been diverted towards digital banking.  Even we are hearing news about  creation of crypto currency by the banks. 
So banks will never fail;
But I fear speculators and big whales may force bitcoin to die because of their greed to snatch money from the true small investors.

In my own opinion yes, because the company of bitcoins really creates a booming growth in our economy which is very good but in the banks it is really a bad thing.

It is unlikely that bitcoin will destroy banks. Most likely, bitcoin and blockchain will help to modernize and optimize the financial system in the world. I think there will be fewer Bank branches, and fewer people working in Bank offices. Everything is automated.