Topic: Does bitcoin pose a threat to banks? - page 26. (Read 1914 times)
Yes, cryptocurrencies are a huge threat to banks and that is why they are trying to fight with Bitcoin and other cryptocurrencies. In my country, almost every bank refuses to provide a service for cryptocurrencies exchanges. Some banks claim that they will try to adopt the "blockchain technology" but what is the point if we won't have a decentralized currency? Many people still don't understand cryptocurrencies and even banking which they use all the time.
Of course I think Bitcoin is a threat to banks and that is one of the reasons why the government have not regulated these digital coins too. But I also doubt banks would disappear just because people will be drawing their attention more to these digital coins than paper money. There are still a lot of people in the world who thinks Bitcoin and other cryptocurrencies will diminish after a few years and stick to what they were used to which is I think understandable. You can't really please everyone because they have their own opinions regarding the digital currencies.
Financial market infrastructure such as the stock exchange has added Bitcoin to their platforms, threatening the financial stability of the banking system 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?
No, I do not think so. Because banks use a lot of people, and many of them don't even know anything about bitcoin
An interesting question I strongly hope the answer to is YES.
But honestly, I'm not entirely sure about that. There are many things that makes banks a kind of untouchables.
But honestly, I'm not entirely sure about that. There are many things that makes banks a kind of untouchables.
Bitcoin does not pose a huge threat to bank cos bitcoin is not a financial institution. Banks earn their money by giving out loans, investing money at various places (stock market, properties etc), fees charge on services rendered. Bitcoin doesnt hv a direct competition to banks apart from the ability of fund transfer but how much % of banks earning is based on it??
Bitcoin can be another avenue for banks to earn by investing in bitcoin if they want to. To say bitcoin poses a threat to the financial system, yes. But not to financial institution.
Bitcoin can be another avenue for banks to earn by investing in bitcoin if they want to. To say bitcoin poses a threat to the financial system, yes. But not to financial institution.
I think it is a threat for tha banks. If we see the inner side then, mainly the banks earns by investment to different economical structure, transferring money from one place to other, and also through different other processes. So, transaction of money is a great earning source for the bank. But if Bitcoin becomes ligal then transfer of money will be done through Bitcoin. Because if we compare the bitcoin and money in case of any case like money transfer, money earning then Bitcoin will be ahead of bankars money.
So to me I think it will be a threat for banks..
So to me I think it will be a threat for banks..
I think that with the development of Bitcoin, many financial companies will become redundant in the market.
Bitcoin and Blockchain are some of the most cutting-edge financial experiments.
Bitcoin and Blockchain are some of the most cutting-edge financial experiments.
I see the biggest threat to the whole financial sectors in a scenario where loans can not be paid back which were used to buy crypto currencies.
When it comes to crypto currencies as payment form, I do not think the banks fear them.
The business model of banks has changed during the last decade. Private customers have become a kind of burden for many banks.
When it comes to crypto currencies as payment form, I do not think the banks fear them.
The business model of banks has changed during the last decade. Private customers have become a kind of burden for many banks.
Yup BTC pose a great threat to Banks.There may be many reasons regarding this discussions,but it depends upon the thinking level of each investor.Transaction system of BTC is based on blockchain technology which is more safe and secure system and when you make any transactions there is no third party and its person to person,peer to peer,you have to pay less transaction fee and its more secure,its saves your time and energy and sitting anywhere in the world on your net you can make this transactions quickly,whereas transactions involve banks carries high fees,theft chances,time consuming.Comparing BTC & Bank is just similar like Internet and Post Office. Internet replaced old system of communications.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial 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 can only say that the advent of bitcoin can have a huge impact on the banking industry and is likely to threaten the power of the government of the country. This is not alarmist. If Bitcoin can overcome some of its own controversial drawbacks, I think There was no bank at that time, and bitcoin could also subvert a nation's government,and I think bitcoin is the product of the times like the Internet.
I don't see bitcoin as a threat to Banks.
Banks will never disappear.
Banks have the backing of the state.
The government won't let that happen.
Banks will never disappear.
Banks have the backing of the state.
The government won't let that happen.
Of course I think Bitcoin is a threat to banks and that is one of the reasons why the government have not regulated these digital coins too. But I also doubt banks would disappear just because people will be drawing their attention more to these digital coins than paper money. There are still a lot of people in the world who thinks Bitcoin and other cryptocurrencies will diminish after a few years and stick to what they were used to which is I think understandable. You can't really please everyone because they have their own opinions regarding the digital currencies.
yes it is while many of other people dont know about bitcoin but if they do they would really invest in bitcoin than time investment in banks, and the bank was triggered by the crypto because the money will not roll to them
Bitcoin is still a threat to the banks getting their profits in former volumes, as people leave banking services and turn to crypto currency, which gives a big profit, payments are always available, are relatively anonymous and are conducted without the participation of third parties, that is, the same banks.
However, in my opinion, the crypto currency is not a threat to the existence of the banks themselves. The state will always need banks, it is a financial instrument of the state and it is unlikely to disappear in the foreseeable future. If the crypto currency will threaten the existence of banks, then the states will rather prefer to limit the currency than go to liquidate the banks.
However, in my opinion, the crypto currency is not a threat to the existence of the banks themselves. The state will always need banks, it is a financial instrument of the state and it is unlikely to disappear in the foreseeable future. If the crypto currency will threaten the existence of banks, then the states will rather prefer to limit the currency than go to liquidate the 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 dont think banks wil disappear because of the rise of cryptocurrency, banks are part of the major economy of one country, though some banks experienced bankrupcy due to loss of investors, we cannot say or presumed that bitcoin holders will not need banks 100% in their lifetime and cause the banks to declared bankrupcy. Im pretty much sure banks wil develop its system to accomodate bitcoin and other cryptos for them to stay in operation. Even world banks are for sure gathering new ways and means to cope up with the growing demands of bitcoin transactions. Soon they will invade the wolrd f bitcoin.
No matter what type of transfer people prefer, it's not that hard to add cryptocurrencies. Perhaps the trend is that banks should support Bitcoin growth. After all, cryptocurrencies have proven to be a cost-effective method of transfer or remittance.
How Bitcoin can pose a treat to Banks in this society Bitcoin and Banks are totally different .Banks sustain by leveraging loans from the account holders money.Bitcoin sustain as long as there is demand both sustain in long run.Banks are limited by flexibility as long as they remain profitable and is controlled by government central authorities.Bitcoin is flexible and not controlled by any government authorities and it is controlled by only demand and in bitcoin supply is limited.
not so far and probably not for a while either.
so far existence of bitcoin meant more money for banks! their revenue has actually increased thanks to bitcoin and the traders. the money they are earning from fees that they take from bitcoiners who are going in and out of bitcoin has been great for them.
and bitcoin doesn't have to be the end of banks like digital photography was to Kodak. banks are just services which are being offered for money. and bitcoin being money can need many of those services such as a bank account which pays you interest, loans, some services that credit cards offer like the credit you get and then pay it later.
so far existence of bitcoin meant more money for banks! their revenue has actually increased thanks to bitcoin and the traders. the money they are earning from fees that they take from bitcoiners who are going in and out of bitcoin has been great for them.
and bitcoin doesn't have to be the end of banks like digital photography was to Kodak. banks are just services which are being offered for money. and bitcoin being money can need many of those services such as a bank account which pays you interest, loans, some services that credit cards offer like the credit you get and then pay it later.
bitcoin and crypto currencies does threaten banks in the way we see it today because the goal of crypto is to change the old and rusty financial system banks have two choices either attack crypto with false pretends and accusations in order to protect their own systems or benefit from the block chain technology and start thinking about change , a change that could benefit the whole world
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