Topic: is it true that bitcoin is a disaster for local banks - page 2. (Read 1198 times)
I don't think it is a disaster to banks but rather a competitor. This is so because people can invest in Btc instead of doing savings at the bank. I believe the existence of btc should be a major reasons why banks should improve on their services.
Bitcoins are not the usual currency associated with banks. Bitcoin and the bank are two unrelated operations and the bank has also blocked transactions involving virtual currency. The development of Bitcoin also made banks worry because people are investing and hoarding Bitcoin instead of sending it to the bank.
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
It’s not quite clear yet how tokens will influence the world market and what the creators have in their plans. Will it be a completely new market or all the same but with a new currency. But still, banks should be wary
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
Yes, I think banks are infuriated by this, a completely new currency that is not tied to the world market.
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
Of course, because now we do not need to contact banks for currency. In fact, we return to the exchange of goods for goods.
bitcoin and bank is work separatly and i think bitcoin is not affecting bank and anything, we know that bitcoin have the digital form and the banks have the money that have the physical form, so i think it dont have any relation with it
It could happen that what I know we have entered the world of technology, if all of you visit the country, of course you will be presented with a lot of sophisticated technology technology, and it is possible that in the future, all the instruments of exchange will be changed with a technology like bitcoin, and we know that many countries interested in the Blockchain method do not mean that they will not take advantage of the current blockchain, and that all banks in all countries have begun to be interested in the Blockchain work system, to protect everyone's funds, and all that takes time. to do it ..
bitcoin and bank is work separatly and i think bitcoin is not affecting bank and anything, we know that bitcoin have the digital form and the banks have the money that have the physical form, so i think it dont have any relation with it
I personally don't view bitcoin to be a threat to banks, rather, bitcoin is a healthy competitor.
And i think that banks are starting to see that point of view that is why many banks are considering blockchain technology as their backbone. They saw how blockchain proves to be a worthy technology to create a tamper proof system where transparency meets full security. And as many banks opposes the decentralized idea, some are trying to mimic the same blockchain attributes under a centralized system.
And i think that banks are starting to see that point of view that is why many banks are considering blockchain technology as their backbone. They saw how blockchain proves to be a worthy technology to create a tamper proof system where transparency meets full security. And as many banks opposes the decentralized idea, some are trying to mimic the same blockchain attributes under a centralized system.
Bitcoin is a digital currency, and have nothing to deal with Bank, accept when converting to local currency, more over bank benefits more from any transaction made, therefore bitcoin helps Bank.
It is still too early to say that bitcoin is going to replace for local banks because bitcoin is not yet that popular compare to backs but the number of people using bitcoin is definitely growing. Bitcoin's feature is decentralization which cannot be generate by simply print it out. This is the biggest difference compare to banks where fiat money can be print out easily and centralized in small group of people.
No, I think the bank doesn't consider bitcoin as a threat, bitcoin has not been legalized by the government and also has not become a legitimate medium of exchange. Banks will feel threatened if the government endorses bitcoin as a currency, but it seems difficult to happen.
banks are afraid of Bitcoin’s because it will lead to ripples across the financial sector, it will create new winners and losers, and it will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined.
I think banks are not afraid of bitcoin, because banks know bitcoin is used by fewer internet users than banknotes users in banks that 100% need banks. But as a competitor, banks must continue to innovate so that users do not move using bitcoin, or even provide a place to exchange bitcoin. So the combination of fiat and bitcoin money will make people have choices.
How possible is this ? even if possible this wont happen soon . i am nit bothered about whats replacing banks or not. i only want to use the best at the moment and enjoy every single means that is available to make life easier.
can be. because more and more profit is generated by someone from itcoin, then when they exchange it to fiat in the bank, the bank itself loses local currency and that can cause inflation. more simply, the value of bitcoin goes up, and exchanged into fiat in large amounts, the bank must print more local money only to be exchanged for the bitcoin.
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 rapid rise of bitcoin internationally gives a threat not just for local banks but of all types of banking system around the world. Bitcoin had almost everything you need that the banks cant and if the banks can, then in bitcoin its less than that it is with the banks. People were slowly jumping on to the crypto and making some adjustment there and leaving banks behind.
I think bitcoin is doing well because it is not causing any harmful affect to their customers but i am sure that in the coming years crypto market will be on number one currency. Bitcoin is not a disaster for banks but bitcoin is in itself a huge market and i think that people will use both forms and fiat is also useful because whenever you need local payments you can enjoy it.
Why are bankers afraid of Bitcoin’s impact? Easy, it will lead to ripples across the financial sector, it will create new winners and losers, and it will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined. In fact, this is what the Internet of Value is all about—erasing the distinction between bartering, money and service exchange in any market. Once each potential good has a financially tradable and storable equivalent, “a bitcoin,” if you will, trade will explode in a myriad of directions impossible to predict by current algorithms. Intermediaries will come and go, and the end points of exchange nodes will become more important. To many bankers, this is a scary thought. To everyone else it is likely quite liberating.
banks are afraid of Bitcoin’s because it will lead to ripples across the financial sector, it will create new winners and losers, and it will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined.
Whatever you do, you still need your fiat currency to spend your cash. And, this will require the services of your local bank. Because bitcoin use is not widespread and bitcoin is not widely accepted, compared to normal banks, it cannot be a disaster for banks
I don't think so, because banks will not die by bitcoin. To use bitcoin there must be a strong and stable internet network. Without that, our money in a bitcoin wallet will not be usable. Unlike banks, physically there is money so even fools can use money in the bank
In banks, the sense is lost as in an intermediary, they will no longer be necessary. I even venture to say that bitcoin is a threat not only for banks but for the entire financial system of the world ... so that the dollar may disappear in the foreseeable future. So we live in a very interesting time ...
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