At first I was quite reluctant to think that bitcoin could really mean any threat to the current financial system, but given the way in which it is becoming popular worldwide and the greater ease with which people can access bitcoin, I think we should already take for granted that bitcoin has come to reformulate the way in which human beings have carried out our economic relations until now.
I do not know if this is enough to make the current banking system disappear, but without a doubt it is leading the banks to rethink in depth the way in which they have been doing things, and how they should adjust to the current times of change and technological innovation.
Topic: Does bitcoin pose a threat to banks? - page 8. (Read 1914 times)
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?
100% YES
Blockbusters were comfortable until the internet come along and now where are they
Taxis were comfortable until UBER came along
Argos catalogues were sitting fine and dandy and then eBay/amazon took over
The list goes on, in my lifetime and probably more specifically in the last 10 years im seeing institution after institution getting blindsided and taken over.
When was the last time you purchased a newspaper!!!
I think the bank can run along with bitcoin, but most bank people think that bitcoin is a threat to the bank. but in my opinion the bank will remain in there and bitcoin will not eliminate the function of the bank
I think yes, bitcoin is totally pose a threat to banks, specially when bitcoin became more popular and there is no doubt that banks should pose a theats to banks because it has a chance that bitcoin can really replace banks in the future.
I find that bitcoin and banks will work together, as cryptocurrency will not be able to completely replace banks, but they will work much better if they accept cryptocurrency.
I don't think that Bitcoin will eliminate banks but I do believe it will make them less of a necessity.
Bitcoin is likely a threat to the banks provided the entire global community is turning towards it for their day to day requirements it will reflect the banks adversely.Bank will charge the customer, processing charge and it will take the transaction time etc. Mean time bitcoin only need very little time and doing the direct transaction with out a third party interference Bank provides the customer a very nominal interest at the same time bitcoin gives a good.profit out of it.Bitcoin will attract the entire community and it can be a threat to banks.
Bitcoin is actually to replace bank in the first place. In the international transaction, bank will be the middle man and charge a very expensive service charge to both party and it also hard to trace whether the other party receive already or not. But in bitcoin transaction is just between both buyer and seller and is easily trace with less transaction fees.
I think so.
Banks are currently very worried about the existence of bitcoin that could cause a bad impact for the bank, even the bank could disappear sometime.
Banks are currently very worried about the existence of bitcoin that could cause a bad impact for the bank, even the bank could disappear sometime.
This is a delicate thread. Banks needs to update their systems if they want to keep their clients, with Bitcoin by their side they may lose control, but at least not investors.
BTC is a great example of how simple we need to be. The financial industry needs to wake up. The banks are full of greed. BTC empowers everyone around the world to show the financial industry that they are wrong.
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?
One reason why banks earn is when their services are used for transactions, like in credit or debit card.
If bitcoin will be accepted as payment in majority of shops and establishments, bitcoin will be a threat to banks' income.
But if we're talking about regulation of bitcoin, banks play a big part on it.
Be that as it may, I don't think Bitcoin or any crypto is by then yet. Possibly in a couple of decades, yet excessively few individuals acknowledge it and just a couple of individuals are utilizing it in contrast with the total populace.
I am certain that digital currency, on the off chance that it gets enormous enough, would have the capacity to convey some harm to banks in light of the fact that the profits could wind up being more grounded than what banks can offer. Likewise, banks offer centralization. In the event that decentralization is the future, at that point, it bodes well that banks are would be frightful.
I am certain that digital currency, on the off chance that it gets enormous enough, would have the capacity to convey some harm to banks in light of the fact that the profits could wind up being more grounded than what banks can offer. Likewise, banks offer centralization. In the event that decentralization is the future, at that point, it bodes well that banks are would be frightful.
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, the government is being hit harder than ever, because the government has the power and the ability to print money out of thin air. And bitcoin is decentralized, and for the first time in human history, technology has been used to ensure that private property is sacrosanct.
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.
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?
A lot of people are now shifting their funds to cryptocurrency because banks offers minimal interests to bank deposits while you can double or triple your money in a short peiod of time with cryptocurrencies. Though this is becoming the scenario lately i dont think that banks would just disappear. Banks have so much to offer that cryptos cannot.
Yes it does but what would have help them now is for them to be thinking on how to start using blockchain technology with their system..
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 is a competitor but i dont think that it would make banks to disappear. Banks has so much functions that bitcoin cannot offer and one very important function is giving loans to individuals or business entities. 
It doesn't at all, i only see them adopting the blockchain into their system too.
definitely it does.but i dont think it will vanish all bank systems.we can see more seamless connections between crypto and banks.
I think the banks and government are so afraid of bitcoin because bitcoin is the money of the internet and the help of blockchain technology they cannot control bitcoin it can be the bitcoin they worst enemy it comes in financial statement.
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