Does bitcoin pose a threat to banks? - page 2.

safarabela

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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?

Yes, crypto can be a threat to banks, because many of the investors are investing their money in crypto, because they think crypto is more profitable.

Justinalex

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of course this is a threat to banks, as many countries use bitcoin. maybe banks can be defeated with bitcoin, in fact, bitcoin is now becoming more popular, I think, banks are now afraid of the current digital currency.

BlackPanda

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Quote from: kalstarzz on May 12, 2018, 11:07:41 AM

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?

you are right that the bank will actually disappear when bitcoin is in effect worldwide, if the bank does not fix itself then they will lose their role if this is not they want then the bank should add their function, for example, to be exchager or others.

There has to be something interesting that the Bank will not miss its customers, it's like an attractive promo as well as many other sophisticated features. If viewed from the sophistication of the blockchain technology used by Bitcoin is an extraordinary thing. If this is maintained and no changes made by the bank then the Bank may disappear.

Nunii

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Bitcoin is a possible threat and most probably, its developers will create more innovative aspect which can pose more threat to banks. Honestly, the continuous growth of blockchain technology will dribe us to a more techie yet efficient econimics, its just a matter of timing.

troglobait

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At the moment, I do not think that bitcoin represents a real threat. But in the future it is possible if this technology becomes really solvent. While this is just an asset. Which takes a small share in the world market

kalstarzz

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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?

you are right that the bank will actually disappear when bitcoin is in effect worldwide, if the bank does not fix itself then they will lose their role if this is not they want then the bank should add their function, for example, to be exchager or others.

ClaraLuV

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The mass adoption of new innovative invention in the financial industry like the bitcoins and other crypto currencies impose a threat to the banking system as they have brought a revolutionary change in the financial industry and people prefer using the new methods of invention rather than the traditional ways of the financial industry. Banks have hidden taxes and service charges and people does not have control over their finances whereas with bitcoins it has changed the way how people could use their finances according to their wish as and when pleased without involving third party approval for transacting world wide.

19Nov16

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Any type of financial system that does not use or relate to the banks will certainly be a threat to the banks, with bitcoin everybody free and can control their finances so that if bitcoin gets popular then everyone leaves the banks and leaves the banks.

kinzey

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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?

In a way yes they pose a threat to banks as people may invest in bitcoin rather than investing in banks as interest rates are very low in banks. As for Bitcoin the returns are just uncomparable and the time frame is just to hard to ignore

jademacoy

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No not really instead bitcoin could add more bank transactions to be made as we all know buying bitcoin may consider bank transactions from fiat money to crypto exchange and from crypto to fiat money. This will more likely to add active transactions between bitcoin or crypto and the bank. So there is no worry with the banks since they are also involved in the transactions. So it is a win win situation between banks and cryptocurrency as we all know after crypto transactions it will end up with selling crypto and getting money from the bank.

AniviaBtc

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For me, the bank cannot disappear because many big companies invest there. Some people used the bank to investing and transaction too. We also used the bank to cash out our bitcoin. Bitcoin is still not threat to the bank. Because like us, we needed the bank .

Drakula

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Quote from: panganib999 on May 12, 2018, 09:01:28 AM

Banks should not look at bitcoin as a threat because it could serves as an asset for them that they could used to develop their own system in transaction and investments. It could build a good connection on the both side that could make a good improvement on the system of banking associated with the blockchain system in transaction in the market of cryptocurrency.

I agree with you there. No matter how succesful bitcoin will be, bank will still remain. Since bank are intermediary with people and their dreams for future, it provides safety and stability. Even if bitcoin is somehow close to banks, it won't disrupt the financial flow.

oi pantura

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Such conflicts must be faced. For example, in China, Bitcoin has seriously affected the country's financial order and has made it difficult to trace the difficulty of regulation of banks and some payment activities. Therefore, China completely forbids the transaction of bitcoin in its own country and the prohibition of bit Currency and legal currency their own currency exchange

pallang

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Bitcoin will not eliminate banks they will stay because people need banks in their daily transactions and banks also plays an important roles in business world and also to people who wants to save for their future.

yourEvil

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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?

no, the banks will not disappear, just as the bitcoin will not disappear, it's all nonsense

chibimanau

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I think that will not happen, the disappearance of the bank. In my opinion, if Bitcoin develops strongly, banks are still intermediaries. Loans and investments require a bank, and paper money can not go away. They will change to adapt to it.

panganib999

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Banks should not look at bitcoin as a threat because it could serves as an asset for them that they could used to develop their own system in transaction and investments. It could build a good connection on the both side that could make a good improvement on the system of banking associated with the blockchain system in transaction in the market of cryptocurrency.

saumang2m

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At this time, banks have no threat to Bitcoin.But banks may be inthreat in the future.Because more people are not aware of Bitcoin yet. But when people will know about Bitcoin that they can invest in Bitcoin. And the bank can earn more profit in Bitcoin. So people who invest in the bank can come down. Thereby threatening banks.

faithofb

newbie

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Yes but i see banks too adopting the blockchain into their system in future

taxli

full member

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Banks definetly see a strong and powerful competitor in the bitcoin since making transctions with it is somuch easier. And the more people shift to the use of bitcoin the less services banks can suggest to their customers. And that what makes them lose profit and try to find ways to prevent the bitcoin's development.

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