Topic: Does bitcoin pose a threat to banks? - page 6. (Read 1914 times)
I do not think the bitcoin function is to rival or replace fiat money, but bitcoin serves as a more innovative payment option. Bitcoin and fiat money are expected to complement each other in dealings.
First of all, there are questions of illegal operations, tax evasion, laundering of proceeds from crime. In fact, using a payment facility without necessarily identifying participants in transactions, it is easier to perform such operations. Also, criminals benefit from the impossibility of canceling committed transactions and blocking any transactions, even if we know that this purse belongs to the criminal.
Bitcoin doesn't threaten banks in the full meaning of the word; Bitcoin is going to transform the traditional concept of banking system to a more developed, reliable and authentic system which will revolutionize the notion of money. With the advent of the 'Blockchain Technology', Bitcoin has had the feature of 'decentralization' which opposes the systems of the current banks. That is why there are some fears of Bitcoin and its underlying technology.
It does, absolutely! Imagine a world where digital money is being used in almost every consumer transaction there is, no banks, no paper bills, no governing body but with real transactions taking place... However a threat it maybe, I don't think crypto will absolutely eradicate and replace paper money because the government, from where it gets its power from (money), just simply won't allow that to happen.
Bitcoin is not a threat to banks. On the contrary, Bitcoin will be a new opportunity for banking. Paul Vigna of the WallStreet Journal wrote the results of the research report in the Wall Street Journal (http://blogs.wsj.com/moneybeat/2016/06/30/bitcoin-still-not-ready-for-prime-time-citi-says/) on June 30, 2016 yesterday. He writes it based on the results of a report written by Keith Horowitz, Adrien Porter, Frieda Liao, and also Michel Cronin. And they are from Citi Research's research team. In his research report, explained that Bitcoin is basically a proof-of-concept that has been quite successful from a digital currency.
I do not think because when we want to exchange bitcoins into their respective country's currency and melt that surely through the bank
so the bank does not lose because there is still a process of the bank and its customers
so the bank does not lose because there is still a process of the bank and its customers
Bitcoin was born to meet the increasing demands of people through the payment of services in a convenient and fast way. Bitcoin is used aggressive in many areas of utility. In the future, bitcoins are more and more used and depending on the human use with bitcoin or the bank they choose.
You can argue that the banks of many countries, including the most developed ones, do not cope with their tasks. And you will be right. Especially, the claims are relevant to the central banks of the Third World countries. In such cases, the use of blocking technology will make the most sense, as it can reduce the level of corruption.
It represents a threat to the financial component of the state. It is illegal and uncontrolled, and it is bad and it is necessary to solve this with something. To the state and investors was good.
I beleive that banks feel certain fear from cryptocurrencies because they steal part of their business, customers and markets.
But on the other hand I don't think that Bitcoin pose some real threat to existance of banks because they will survive. They will adapt and change their business, even accept blockchain technology but they will survive.
But just because cryptocurrencies will force banks to change the way they are doing their business this is a very positive influence of Bitcoin and other cryptocurrencies.
But on the other hand I don't think that Bitcoin pose some real threat to existance of banks because they will survive. They will adapt and change their business, even accept blockchain technology but they will survive.
But just because cryptocurrencies will force banks to change the way they are doing their business this is a very positive influence of Bitcoin and other cryptocurrencies.
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 think it doesn't because of the fact that banks are business entities, therefore, it is more common for them to actually adjust or make their system work for whatever is the reigning investment system at the moment, and at this time, it's cryptocurrency that is booming. Thus, it would be more expected to see them include cryptocurrency in their systems to also take advantage and profit from it. It's the smarter move, since you are a business focused in making money.
Not only can you invest in securities, mortgage markets, or consumer credit, just like the banks, but you can actually invest in small cap stocks, and lower grade bonds, that offer higher returns than banks can ever achieve, given their risk constraints.
Furthermore, none of those are really how banks make money. Banks make money on loaning credit (which will happen regardless of what form they loan money in) and stock spreads (which again, will happen no matter what currency stocks trade in).
I just don't want people to be disappointed when nothing really changes materially, regardless of widespread crypto adaptation. It doesn't actually address the main problem with consumer behavior (low market liquidity, and high propensity to consume debt).
While it definitely creates more transparency in the financial markets (which is a good thing) the main problems with banks are already transparent, and the only technology that can change that, is tech that can change human psychology.
Furthermore, none of those are really how banks make money. Banks make money on loaning credit (which will happen regardless of what form they loan money in) and stock spreads (which again, will happen no matter what currency stocks trade in).
I just don't want people to be disappointed when nothing really changes materially, regardless of widespread crypto adaptation. It doesn't actually address the main problem with consumer behavior (low market liquidity, and high propensity to consume debt).
While it definitely creates more transparency in the financial markets (which is a good thing) the main problems with banks are already transparent, and the only technology that can change that, is tech that can change human psychology.
Will the bank disappear?
No! the bank will continue to exist because the banks are one of the financial power for the economy of a country which facilitates the activities of the society to save money, in terms of commerce and for future investment.
Actually, bitcoin isn't threat to the banks if banks are willing to implement bitcoin into their banking systems I'm sure the bank it will make a profit.
I think maybe that could be because they are CEO of Banks thinking of ways to get people to think that investing in bitcoin is a bad idea and their money will be futile in the future.
of course not, banks better cooperate with bitcoin because to guarantee bitcoin in the future it takes an asset to trust the wider community to avoid the problem of loss or other help. it would be an opportunity to legalize bitcoin in a country.
Yes, I also agree with you. Bitcoin pose a threat to banks to realize them who ignore and don’t seem it’s a currency. Some of the bank authority think investing in Bitcoin is a bad idea and they disserted the people not to invest in bitcoin. As a result of Government also accept it that investing bitcoin is bad for people. Even we see some of the countries already ban the bitcoin. So To realize them that bitcoin is a profitable currency, I seem bitcoin should pose a threat to banks.
It has both positive and negative site. The negative side is that who accept the biotin they also take it as thread and maybe they can stop the allow of Coin. The positive side is who ignore the Coin they may take it seriously that it will be next profitable investing and also helpful for the bank. Because If all the bank and government allow it, the invest and profit will be increased more.
It has both positive and negative site. The negative side is that who accept the biotin they also take it as thread and maybe they can stop the allow of Coin. The positive side is who ignore the Coin they may take it seriously that it will be next profitable investing and also helpful for the bank. Because If all the bank and government allow it, the invest and profit will be increased more.
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 think it does, knowing that bitcoin has all the features a bank has and it is even way more better as it gives out great convenience to everyone all over the world who are using it. Bitcoin and banks has a good relationship right now since it is where people are usually getting their fiat after converting their bitcoin. 
The existance of bitcoin has been positively affecting the economy of our country but it's growth definetly does not make the bank industry develop better.
I think the existence of the bank will still exist even though digital development and bitcoin continue to increase significantly. The presence of bitcoin will not be easy to replace bitcoin even though people start switching using bitcoin.
Bitcoin will reduce the number of banks, but it will not destroy them at all. And I think they can work together, because bitcoin will greatly simplify the work of banks.
nope it won't, although many people say that bitcoin is a competitor to the bank but everyone understands that the bank is the most influential third party for the state finances,fiat currency circulation is governed by the central bank, the micro businesses are backed by bank funds, and for many other reasons, bitcoin is just an option currency for fiat, not to beat the bank #imo Jump to: