is it true that bitcoin is a disaster for local banks - page 4.

jonaire99

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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

Bitcoin is created as form of payment for online purposes and not to destroy any institutions like banks. I think the banking industry as a whole is not afraid on the cryptocurrencies, they only dislike them because they are decentralized or can not be controlled by anyone including the governments. Banks can survived the so called attack of cryptocurrencies and blockchain on other currecnies like fiat because they can also make or issue their own crypto if they wanted to.

insurgent

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Look ARROUND!

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

I think that somehow this is true because people choose to invest in bitcoin rather than banks. Well there were so many advantages in investing in bitcoin than banks. You can handle your own money in bitcoin and you are able to earn huge profit in bitcoin. Bitcoin is getting popular nowadays that may help other people to discover bitcoin.

teamspike911

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The purest truth. In a world in which the crypto currencies will win, banks simply will not be needed by people. No, but seriously, for what purpose will people continue to use them?

mikan111

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The essence of the bitcoin is not in the destruction of anything, it's primarily an investment outside the centralized financial system. The banks are afraid of it, but for the reason that the BCT can in the future reduce their speculative power.

Ferki

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Lot of new projects/ICO´s are trying to copy banks.They even introdusing lending as a new method in cryptocurrency space.At the begining of the year there was a lot of money invested in cryptocurrency.Those things could be scary for the banks,but thats not enough.Banks and money are ruling this world and first thing they will do against domination of Bitcoin is worldwide regulation of it.
No,bank has no fear.

mr.bean865

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Yes if bitcoin continued its progress just like in 2017 then till now all the banks would have been against bitcoin but now as it drops ddown to drastically low level t even who interested in it are thinking to get their money back by any way

SofiaClarke743

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How to verify the source you heard is reliable? I'm not sure that many people need to share this information. That made us puzzled.

umrohyuk

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Everyone moan about this issue, they perhaps claim that Bitcoin disturbs and has a negative impact for local Banks in many countries. I do not know how they can say so because I think it is not true. Bitcoin never disturbs local Banks. It is comes independently and becomes a trend of investment for some community of people, because it not all people know about this.

MMS2017

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Bitcoin is not open using in our country just like it is using in other countries and it is good to say that bitcoin is good if the local banks started deposit but the opposition is about the stability of bitcoin which is the major issue and that's why it is disaster for banks.

cizatext

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That is the primary reasons why the bank and financial institutions are constantly against bitcoin because bitcoin and the blockchain technology are taking over the function of banks and in a decentralized way, the blockchain gives the people the total financial freedom which the traditional financial institutions will never give.

Mark Tabicas

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Bitcoin doesn't necessarily become a disaster or a competitor to banks. The money banks are working with is paper money, while Bitcoin is a digital currency. Moreover, other than money-transfering function, the service in which you guys think Bitcoin and banks are competing, banks have many others roles like issuing money, mobalizing capitals.

Brenda Smith

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Bitcoin isn't really a disaster for banks, but more or less, it has certain influence on banks. Bitcoin is underpinned by Blockchain technology and therefore, it makes banks seem obsolete. Some banks have to use blockchain to improve their system to compete with Bitcoin.

Christine Tavares

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No. Not a disaster. I don't think Bitcoin is that scary to banks. Banks have many important functions in our economy. Bitcoin is only a threat to crooked banks. Compared to banks, Bitcoin was too small to present any threat to the worldwide economy.

kalstarzz

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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

yes, the news is true. but if a local bank also uses bitcoin and its superiority I think the bank will not be displaced by bitcoin. they should accept the reality and take advantage of the existing reality. If not, the local bank will be completely destroyed.

South Park

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I am terrible at Fantasy Football!!!

Quote from: vnck25 on August 22, 2018, 05:56:59 PM

Not yet! Well its actually the whole notion of cryptocurrency. Its decentralized nature and low fees, anonymity has challenged the centralized authoritarian of the traditional banking sector. Currently some banks around the world are using Ripple, another cryptocurrency. However, Ripple is actually a centralized cryptocurrency! However if cryptos become more popular as a currency instead of a investment instruments then banks would have to really think about a good strategy to tackle those challenges.

Ripple has no future if you think about it, why banks are going to use Ripple at all? If what they want is to deceive users about thinking they are using a cryptocurrency then why not create their own that they control completely? This is why the market cap of a coin does not really mean much if even a coin like Ripple can have the third spot in the market cap.

Lodipetmalu

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Bitcoin is not a disaster to any local banks. It doesnt affect any transactions of bank. Bank is very powerful than bitcoin. Banks can never be prevail by bitcoin.

pelipurlara

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In my opinion, banks are not afraid of bitcoin, but actually those who are afraid that their governments are afraid of the presence of bitcoin will reduce taxes from government people who have an interest in enriching themselves by taking advantage of bitcoin holders or crypto currencies

DreamStage

sr. member

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I don't think it's a disaster, instead bitcoin and local or conventional banks go hand in hand. for example, I invested in bitcoin and when I sold it I changed it into money, meaning there was interference from a local bank there

Willie_Linder

newbie

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We just need to know what we want. Banks want profit and they need clients. We are their clients and they make profits on us. The bitcoin is a way to earn more money. We can invest in bitcoin and earn a lot. Banks know that and that is maybe why they are afraid. They see concurrence where we see opportunity. But it is not true that bitcoin is a disaster for local banks. I think if those banks have the right mindset, they can profit as well. They just need to re-invent themselves.

ntodntodan69

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I don't think it's actually a disaster! what factors cause disaster for existing local banks! all of this has run smoothly with a long time, no local bank

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