Topic: Does bitcoin pose a threat to banks? - page 13. (Read 1914 times)
I think banks will still exist with the presence of digital currency. Perhaps banks will adapt to technological advancements to keep them in need by the public.
For sure, it's a bitcoin for people to get money and of course it means that the person needs money, but somehow they use the bank to keep their money coming from bitcoin, and of course they will it is in the bank so they can control it and another is still needed by the banker so that they get to bitcoin will keep
Yes, banks posses a major threat due to Crypto currency. Banks like to have a control over the public. Crypto is a boon, that gives power and control to the people, and boy, banks and governments hate that.
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 can be considered as a threat to the banks knowing that it has all the features and capabilities banks have and it is way more better. We should always consider the fact first that banks are legal in the whole world meanwhile bitcoin is not so that's a disadvantage for bitcoin but still it is slowly snatching its way to the world market making it possible for bitcoin to kill banks in the future.
It is well known to all of us that, crypto currency is the invention of modern technology as a financial system of payment system. If the government or bank does not accept it or if they are not updated with the modern technology, they certainly step behind. And one day they disappear. But if the they introduce new system or accept crypto and block-chain technology then they must survive. Its depend upon their time to time decision.
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?
It does pose a threat to banking system. They're afraid of being made obsolete and more people are choosing blockchain technology because its decentralized. It allows people to trade directly with each other, cutting out the need for a third party or a middleman just like what banks does.
I think bitcoin is a big threat to banks. Bitcoin thrives, many people will use bitcoin. The banking sector must have a revolution to develop and survive. As you can see, when online music developed, the tape was erased. As information technology thrives, electronic money in general, bitcoin in particular, will be a big threat to banks.
Of course, banks can disappear! But this in my personal opinion will not happen in the coming decades, and maybe never. It is not profitable for the states.
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?
The current condition of bitcoin is not beat the bank yet.
For the safety, saving bitcoin is more risky than saving money in the banks.
Also bitcoin price is not stable, so not many people brave to save their assets into bitcoin
Bitcoin certainly poses a threat to banks, when banks are used, bitcoats and crypto payments as payment here and abroad, then banks can no longer charge a fee for this transaction. What can lead to a large number of banks closing.
Yes, I think bitcoin is a threat to the banking sector because if people eventually to cryptocurrency the bank will loose more of it's customers and perhaps the profit from cryptocurrency is more compared to that of banks...
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 believe that banks will not disappear and at the moment bitcoin does not pose a threat to the banking system, otherwise world leaders would act differently with respect to the crypto currency. 
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?
The bank will not disappear, why do I say this? The world is changing with the introduction of technology but human nature is such that not all will and can adapt to the new way of doing things. There are still a loot of people out there who are adamant and will never yield to change. Again there are other people who can neither read nor write, how will those people cope with this new era of doing things? They still need to rely on others to do their monetary transactions thus the banks. For these reasons among others, I think the banks will continue to operate even though they may loose customers like you and I who understand blockchain and bitcoin and feel safe with it.
As you can observed, most of those people who appeared in news are those bankers who will say their opinion about cryptocurrencies and it would definitely be a negative opinion to convince others to continue to trust them and not pull out the funds of those who are already diversifying their investments. the banks to declared bankruptcy. I'm pretty much sure banks will develop its system to accommodate bitcoin and other cryptos for them to stay in operation.
It seems the bank's position is not so threatened by bitcoin for now. Because the functions of banks and bitcoins are slightly different. But if in the future bitcoin can be a threat because it may be that investors who invest their capital to the bank will move to bitcoin all.
In some cases such as payment transactions in the country and abroad are in fact more Bitcoin has efficiency both in terms of time and cost without any rules limit the number of transactions that provide comfort for the market participants who want to Transact in large numbers, of course, would be a threat to banks that still have a certain amount of transaction limitations with the middlemen-middlemen in charge of verifying the transaction forms a large number of transactions.
I believe it is difficult, a minimum of with regard to government-backed banking institutions, simply because banking institutions possess lots of company, such as financial loans, cost savings, not to mention, cost savings would be the majority of utilized. The buying price of bitcoin changes, which makes it not possible for individuals who don't think bitcoin to change in order to bitcoin. As well as personal banking institutions, which might have the effect associated with bitcoin, because won't fall, that understands.
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 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. 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.
It is high time to abolish banks, this is an old system that is not always convenient and I hope that bitcoin will be able to change this outdated organization.
It is unlikely that banks will disappear in this century, it is quite a deep-rooted system, and it is unlikely to be removed. Bitcoin will exist in parallel with banks.
Jump to: