is it true that bitcoin is a disaster for local banks - page 12.

Kentkent

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Quote from: billygarrison on August 07, 2018, 11:37:23 PM

I heard the news, that banks are afraid of bitcoin and can replace banks, because the excess of bitcoin is much compared to local banks

The banks are in the verge of losing battle with cryptocurrencies. It's either they adapt or find a new way to gain more users. The bitcoin world is really expanding in the market and competes on the top of the economy. It is not surprising that one day bitcoin will replace the banking systems completely. By that time, I hope my investments are enough for me to profit.

d57heinz

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Bitcoin Talks Bullshit Walks

Quote from: HabBear on August 08, 2018, 12:16:27 AM

Quote from: dohh on August 07, 2018, 11:39:15 PM

Nope, it´s just a disaster.

SO you're saying that Bitcoin is a disaster? If so, why are you here?

Quote from: JohnDcosta on August 08, 2018, 12:02:55 AM

Banks hate bitcoin and also don't want it to run because they know it very well that it popularity rate is increasing rapidly and it can be a great threat for banking business.

Most banks or bankers don't care about bitcoin. They don't see it as a threat at all.

And the reality is that bitcoin isn't a disaster for banks. Banks offer something different than Bitcoin. Banks offer financing, lending. That's their primary role. That's where their value is...because they don't offer value from investments or interest earned on savings.

It’s like watching a train wreck. Once it’s starts it’s impossible to look away. Banks are running this show now. It’s a beautiful thing for them now that they have a good share of coin. Delay an etf or two. It’s all a game for them to now. After all it’s the deregulation that everyone here so cherishes. Till it’s you on the receiving end of the dump. Good luck in your investments. In time you will have the outlook most do after being in crypto a few years. Just give it time to harden your spirit!

BR

Vritesh

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Yes bitcoin is a disaster for local banks. Bitcoin till date has beome the biggest investment asset. It can help people in many ways which local banks cant do. Bitcoin can make the money double and can let people earn the maximum profits. People investing in banks are under the control of other person or department but this is not so in case of bitcoin. Person investing in it is his own head.Bitcoin has the fast processing than the local bank. So due to all these reasons bitcoin is disaster for local banks.

dohh

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Quote from: HabBear on August 08, 2018, 12:16:27 AM

Quote from: dohh on August 07, 2018, 11:39:15 PM

Nope, it´s just a disaster.

SO you're saying that Bitcoin is a disaster? If so, why are you here?

Dont You think, a person can be interested in some topic, regardless his own view on it is positive or negative?

dothebeats

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Yes, it can be a disaster while bitcoin can't replace banks fully. There's a lot of things banks can do while bitcoin can't and vice-versa. Short-term, people will see bitcoin as an excellent investment tool while banks are slowly losing deposits from people, keeping their (banks) profits at the minimum. However, knowing how a government largely depends on banks to help them stimukate the economy, it is a no-brainer that despite bitcoin's valiant effort to overthrow an obsolete system, people will still use it. A short disaster for banks but over time, when banks and bitcoin, along with other crypto co-exist, the interest division would not hurt the banks at all.

Cj29

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Not just the local bank also the international bank they all afraid of bitcoin and crypto. It because of the high demand iand high interestn bitcoin when you hold your saving into it. Bank only low interest and low demand

Blanca_Gregory

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Is it so? I have hardly come across local bankers that think so. Of course they are discussing and monitoring it. Many of them just sort of disregard it with the conviction that it will fizzle out like a bubble. I am of the opinion that they are completely wrong. In spite of this, it is highly unlikely that Bitcoin is a threat to the flat currency. And it really doesn't need to threaten local banks. Bitcoin market right now does not possess that much influence.

Apiapik

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bankers don't care about bitcoin. They don't see it as a threat at all. because they do not offer the investment value or interest earned from savings. Bitcoin is an investment asset. don't see bitcoin as money, but look at bitcoin as digital gold and investment assets.

lingdelta1

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Many banks are researching using XRP to transfer money, which proves that the bank is looking to investigate and disclose other Bitcoin as well as Blockchain technology, there will be no threat here.

Gravityle

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When holding Bitcoin you don't let the goverment to steal money from you by inflation caused by money printing. It's also a big problem for local banks because they don't get any money for transfers. Question is will they or even can they do something about it.

Impulseboy

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I am not sure if banks are afraid of bitcoins. If at all, they are not threatened by it because people are used to the current currency they are using, plus, not everyone in the world knows about digital currencies yet. Perhaps when crypto gets even more popular then banks will feel threatened by it but it may not be possible for now.

MNDan

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I can say that this is possible but not unavoidable, so my country banks are totally ignoring the fact of cryptocurrency existing and they think that it would pop as a bubble, sooner or later.

Pursuer

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Where is my ring of blades...

bitcoin doesn't have to be a disaster for banks at all because first of all banks are working with fiat and fiat doesn't go anywhere. it will stay around forever and bitcoin is not here to replace it either. and if you really think about it, banks are just service providers for currencies. and bitcoin is just a new currency. there is nothing stopping banks from adopting bitcoin and offer the same fiat services they offer now for bitcoin and increase their revenue.

Quote from: HabBear on August 08, 2018, 12:16:27 AM

Quote from: dohh on August 07, 2018, 11:39:15 PM

Nope, it´s just a disaster.

SO you're saying that Bitcoin is a disaster? If so, why are you here?

a very good question ...

Mandalawangi

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Most banks or bankers don't care about bitcoin. They don't see it as a threat at all. because they do not offer the value of the investment or interest earned from savings. Bitcoin is an investment asset. don't see bitcoin as money, but look at bitcoin as digital gold and a very promising investment asset.

jademaxxiss012

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Quote from: billygarrison on August 07, 2018, 11:37:23 PM

I heard the news, that banks are afraid of bitcoin and can replace banks, because the excess of bitcoin is much compared to local banks

No it isn't in fact it is the opposite because local exchanges needs a third party to collect the payment for their investors and will going to credit the amount in order for their investors to exchange their fiat to crypto. Since third party is need those local exchange has offering a bank transfer for them to pay which relatively will get also a transaction fee on every money being transferred out from the investors using the bank and to the local exchange.

Kakmakr

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It comes down to market share. Banks had no real competition for many years and then Bitcoin came on the scene to be the alternative/competition for these Banks. In many countries people were limited by the availability of Banking services.

Suddenly the new kid on the block, gave people a alternative method to store value and to handle payments and they are slowly but surely taking a share of the total dominance that Banks had. This is why Banks hate Bitcoin. Roll Eyes

buternasek

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Quote from: billygarrison on August 07, 2018, 11:37:23 PM

I heard the news, that banks are afraid of bitcoin and can replace banks, because the excess of bitcoin is much compared to local banks

no no, bitcoin is an investment asset.
don't see bitcoin as money, but look at bitcoin as digital gold and a very promising investment asset.

HabBear

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Quote from: dohh on August 07, 2018, 11:39:15 PM

Nope, it´s just a disaster.

SO you're saying that Bitcoin is a disaster? If so, why are you here?

Quote from: JohnDcosta on August 08, 2018, 12:02:55 AM

Banks hate bitcoin and also don't want it to run because they know it very well that it popularity rate is increasing rapidly and it can be a great threat for banking business.

Most banks or bankers don't care about bitcoin. They don't see it as a threat at all.

And the reality is that bitcoin isn't a disaster for banks. Banks offer something different than Bitcoin. Banks offer financing, lending. That's their primary role. That's where their value is...because they don't offer value from investments or interest earned on savings.

JohnDcosta

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Banks hate bitcoin and also don't want it to run because they know it very well that it popularity rate is increasing rapidly and it can be a great threat for banking business.

Testament28

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Not actually a disaster... But surely, bitcoin is a big threat for local banks, that's why they are against cryptocurrencies. Bitcoin's existence will surely affect local bank's financial circulation. And this will surely hit them hard.

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