Does bitcoin pose a threat to banks? - page 24.

jimrome

sr. member

Activity: 434

Merit: 250

Quote from: Tashi on February 01, 2018, 04:38:15 PM

Bitcoin will do what emails did to post mails. Try to get that first sentence a basis. At first people are rejecting emails. They don't know the capabilities of it. But since, we are evolving, it was clearly implemented.

Bitcoin really shows a pose of threat. So banks, if they can't adjust to the ever changing needs of time, it's over.

I do accept the fact that bitcoin and block chain is the invention of the century but it is hard to think that a government funded banks will be affect by it,because if you are not aware of it,if you want to purchase your coins you need to have the banks to send the money,you know what happened when the banks stopped credit card being used to buy crypto currency,the market went down,so think what you are telling. Wink

w33man

full member

Activity: 462

Merit: 100

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?

Well, in the future if people choose to only utilize one form of money which is bitcoin, then it would definitely be a threat to banks since they only accept the Fiat system. Of course, there will be no use for banks if all transactions are done online. Still, I believe that banks are wealthy and they will innovate to adapt the changes that bitcoin will bring.

alekseidanilov0803

newbie

Activity: 84

Merit: 0

I do not think so. The currency exists by itself! And no one touches her, and she does not touch anyone. Something like this...

Pesona1

sr. member

Activity: 812

Merit: 254

Leading Crypto Sports Betting & Casino Platform

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 must cause problems for banks, now banks are worried about bitcoin threats. in many countries many banks are starting to resist bitcoin because bank customers are switching to bitcoin investments rather than saving deposits in their destination banks because if their bank profit is flat every month, whereas if investments in bitcoin they can get big profits in the near future.

e19293001

jr. member

Activity: 120

Merit: 1

Yes. The biggest generator of FUDs are banks. They fear to lose their
business. If only they can pay the government to create an
international law to ban bitcoin, they'll do it.

Zrs

sr. member

Activity: 299

Merit: 250

bitcoin always pose a threat to banks.as bitcoin is a peer to peer transaction,we do not need third party.So in another word,we do not need bank.bitcoin revolution always gives tension to bank in the question of their existence.

laravuemaster

full member

Activity: 378

Merit: 100

When Football meets Crypto

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 does not pose a threat to banks but since banks are also an investing company then they will both have competition on the business. Cryptocurrency needs investment in order to earn profit and banks are also required to earn investors in order for them to earn profit so there's competition between them.

Zyborg

sr. member

Activity: 476

Merit: 256

Of course BTC is a great threat to banks and other financial institutions.BTC is a revolution in Cyptocurrency.For example you wanna transfer money from World one place to another place,if you go to banks,you have to fill documents,wait for confirmation,wait for some time in bank,high banks fees,and in this way you spend one your whole day.If you transfer through BTC, there is less fee and instant transaction and more safe and secure.Internet replaces Postal services,similarly with higher maturity one day future of banks will be in danger.These examples reinforce that BTC is a threat to banks..

CryptoBitCoins

full member

Activity: 644

Merit: 120

An interesting idea for the author. Perhaps he is right and in the near future banks will go to the second plan. In fact, all the information that is stored in the bank, now all the information is on personal computers. But anyway, there will be such a question, regarding loans, who will be able to give them and how will this be regulated? So, the banks will remain, but not in the form in which we are accustomed to seeing it.

Tashi

full member

Activity: 391

Merit: 100

Bitcoin will do what emails did to post mails. Try to get that first sentence a basis. At first people are rejecting emails. They don't know the capabilities of it. But since, we are evolving, it was clearly implemented.

Bitcoin really shows a pose of threat. So banks, if they can't adjust to the ever changing needs of time, it's over.

ronbt

newbie

Activity: 55

Merit: 0

Bitcoin yes, unless they can charge for transactions and conversions...so they will be trying to take control.

Washball

full member

Activity: 266

Merit: 151

First crypto index traded as a token!

Bitcoin is seen as a threat to banks, that's why the financial institutions all spread FUD. Governments, who are in favor of banks, are planning to regulate cryptocurrencies. They also charge taxes on every transaction. This whole scheme is planned to attack cryptocurrencies, because banks are afraid of being taken over.

pelumi20

member

Activity: 712

Merit: 15

I think it pose a big threat to the banks, not just bitcoin but alt digital currency. If it becomes generally acceptable then few people will need the banks. I think they need to find a way to move with this development rather than attack it because it isn't something they can stop.

otandelapaz

full member

Activity: 518

Merit: 115

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?

I don't think so. Not going to happen. The question is like "Will cryptocurrency replace fiat?".
First, Bitcoin in nature is limited
no internet connection, no bitcoin
no electric power, no bitcoin
no electronic device, no bitcoin
etc...etc
In fact it will do just the opposite. Bitcoin or cryptocurrency in general will boost the financial/banking industry. People will have/earn more money because of bitcoin. And where do you think people put there money for safety? To the bank. Where do business put their money where they earned from bitcoin earners who purchases or ask services from them? To the bank.
"Bitcoin'ers" will and always will transfer there digitals to fiat no matter what. Because bitcoin is being used as an investment/asset rather than as a currency.

daarul50

legendary

Activity: 1596

Merit: 1034

I do not see the threat of bitcoin for a bank. Precisely, I see a bright future if bitcoin and bank can work together to implement blockchain technology because indirectly so far bitcoin and bank have cooperated but still use intermediary from the exchange server. We can imagine what if banks around the world implement this blockchain technology? I would be very happy if it happened in the future and the possibility is huge.

khendjer

member

Activity: 157

Merit: 13

It probably does. Moreover it pose a threat to governments cause it has a potential to substitute national currencies. And if there is no more national currency and people use Bitcoin instead why would they need to go to some bank's department and waste their time there if it's much easier to use a Bitcoin wallet. While governments will continue to try to ban, control, regulate crypto it can be said that banks are in a safe position as people will still be using national currencies and will have a need for some financial services. But once they loose a battle to Bitcoin the today's bank era will end shortly.

cmaxwell

newbie

Activity: 195

Merit: 0

somehow yes because the cash which form the bedrock of all this strong banks can turn to a thing of dream one night if bitcoin eventually takes over the economy of the world. this might be one of the reasons why some Banks are forming resistance against bitcoin and all other crypto currencies

shi07

member

Activity: 122

Merit: 15

Long Live BTC

I think yes because it is possible to decrease their depositors.To be able to invest they can withdraw their savings on the bank then invest in bitcoin. Because bank interest is not as higher of what we are thinking Number of transactions and charges also decrease interms of remittance because Bitocoin is capable of exchage and trading.

Cgrbb

member

Activity: 96

Merit: 10

its up to banks

if they evolve and accept the cryptocurrency they will live a better life, if not people will spit on their grave

Pansamantala

member

Activity: 241

Merit: 11

According to my researches and my observations, bitcoin doesn't really threaten the banking industry. if that is what you are talking about. if anything, bitcoin helps the banking industry because without banks we couldn't transfer our precious bitcoins into tangible cash.

Topic: Does bitcoin pose a threat to banks? - page 24. (Read 1914 times)