Topic: Does bitcoin pose a threat to banks? - page 16. (Read 1914 times)
bitcoin is not a threat for a bank, i think it will more than a bank, bitcoin is a threat for an economic of a country, what its mean? i think it people in a countyry using bitcoin as their currencies i think the government will confused because of this because as we know that bitcoin is not traceable and anonymously, which is bitcoin is can be taxed by a country
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 don't think so, while banks still are the ones who hold the most people money, there's still people unware of the advantages of taking the savings outs and put into the blockchain.
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?
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.
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.
Yes, the banks are now getting worried in the growing population of the users of bitcoin, in fact, bitcoin is now become more popular, i guess, the banks are now afraid of this digital currency.
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.
Bitcoin is a double edged sword when it comes to banks. First off they have the potential to completely revolutionize the way that their systems work, whilst allowing interoperability between different banks to a degree not yet approachable with current tech. However, bitcoin also has the potential to completely overthrow the banking system, as few people would even need to use banks should it become THE worldwide 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?
Bitcoin has changed the financial condition of the world. As you said that it can indeed happen. I see it as a revolutionary, when conventional financial transactions like banks are starting to be abandoned and many people prefer bitcoin because with bitcoin we can make a much better profit. Choosing an investment is indeed an option for everyone and it will impact on the financial system in the world as a whole. 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 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.
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?
Yes Bitcoin poses a threat to banks. But not only Bitcoin, the whole idea of cryptocurrencies poses a threat. We all know that banks loves to take control of money and all other stuffs that they can gain profit from. Now Bitcoin is different since it's decentralized so they could not totally have control over it. This frustrates them so they try to find some ways to retaliate. Bitcoin has a huge huge market worth billions! Which is why banks want to get their dirty hands into it! I don't think banks will seize to exist any time soon. Banks are made up of smart people. So I believe they will find ways to stay and co-exist with Bitcoin and all other digital currencies.
yea it does else we wont be having all the news on air about the government warning people about bitcoin and CEOS blarbbing their mouths, defaming and give bad reputation to the money making bussines.
That was before, as I read some news regarding the relationship of banks and crytos are really getting good this year, most banks are starting to open-up with crypto especially Bitcoin, only matter of time wherein they openly accept direct banking of Bitcoin from Bitcoin wallet to Bank account.
BITCOIN DOESN'T POSE A THREAT TO BANKS BECAUSE BOTH OF THEM NEED EACH OTHER
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?
that's right, bitcoin is threatening banks. cause it ruins their monopoly, and i think it'a great cause banks were functioning so many years, now they have a real opponent. bitcoin changed our lives. i personally have my life changes because crypto and i am happy about it. i am happy i am a little, but a part of thus huge system
We need to know well the blockchain technology. Thanks to Blockchain, the network between people became stronger. We can now perform our operations without the need for any intermediary factor. We can handle these operations very quickly.
What will be the future of the banks after Bitcoin?
It depends on what purpose the banks are using. If you are an institution where you keep your savings, I do not think it will be too much. But if it is used for payment or transfer transactions, we can say that the banks have been turned over. Because the transaction times and fees charged in the banks are very disturbing.
Now the world's leading banks, digital paralara is very interested. And he began to build his future. Ripple is a digital money that is beginning to be used in the banking sector. Lumen (Stellar), a digital currency, has begun to reshape the banking industry by partnering with IBM.
The banks will decide again about themselves. Either they will be part of this technological revolution, or traditional banking will continue and they will wait for their own end ...
What will be the future of the banks after Bitcoin?
It depends on what purpose the banks are using. If you are an institution where you keep your savings, I do not think it will be too much. But if it is used for payment or transfer transactions, we can say that the banks have been turned over. Because the transaction times and fees charged in the banks are very disturbing.
Now the world's leading banks, digital paralara is very interested. And he began to build his future. Ripple is a digital money that is beginning to be used in the banking sector. Lumen (Stellar), a digital currency, has begun to reshape the banking industry by partnering with IBM.
The banks will decide again about themselves. Either they will be part of this technological revolution, or traditional banking will continue and they will wait for their own end ...
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.
I do not think that bitcoin is a full-fledged competition to the Bank. Yes, some banking operations will cease to be relevant, but the Bank still has something to entice consumers.
Theoretically, of course, bitcoin can destroy the banking world system, provided that everyone in the world will use crypto currency for calculations. However, there are no experts 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 dollars by 2023, which scares the banks that got a serious competitor.
We can say that bitcoin is the threat to bank but at present crypto just take a part of our monetory side .if it can take large area of market then it will be a disaster for bank.
Banks are on the implementation of blockchain ripple technology blockchain technology is helping banks it is nt a threat but an opportunity
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