Can bitcoin trigger the banks' collapse?

[NANCY]

I had no idea about Bitcoin Kiata but I got a lot of ideas after reading the posts of senior brothers. Bitcoin can cause banks to collapse. Because the way money is transacted from this bitcoin is only through this bank.

[Giangphuong8489]

quote author=emmybd link=topic=191213.msg1080372#msg1080372 date=1612637685]
Still, bitcoin is a very small industry if we compare it with banks. The entire cryptocurrency market can't be compared with banks as it is too small. So, it is not possible for bitcoin to trigger the banks' collapse.
[/quote]
The competition between crypto & fiat or DeFi with the banking system does not depend on capitalization but on the values it brings to users. Currently fiat is devalued, the value of crypto is continuously increasing, users of DeFi applications increase, making the banking system forced to consider joining or supporting DeFi.
I do not dare to think that all banks will collapse, just that crypto will force banks to work differently, in a more decentralized ecosystem.

[CriptoLH]

In the modern world, the banking system is also developing and in some countries, such as China, they have already created a test national currency based on the blockchain. And this suggests that the benefits of blockchain technology are understood by the heads of state. Therefore, I think bitcoin can not provoke the collapse of banks. This is an alternative to banking operations.

[Herry]

Yes brother you are right bank is a very trustworthy institution. Many people still do not know about Bitcoin. Bitcoin is the largest cryptocurrency. But compared to banks or the crypto market looks very small. That's why Bitcoin can't be the cause of bank failure. I agree with you. But I think one day Bitcoin will gain a reputation as an international currency.

[arnold dudicove]

The Banks are controlled by central authorities. Every transaction is recorded in banks. A bank is a trustworthy place for most people around the world. On the other hand, a lot of people haven't heard about bitcoin as yet. As it is not regulated, so many people don't feel confident in dealing with this system. The Banking industry is much bigger than the cryptocurrency industry. The largest cryptocurrency is bitcoin. Still, bitcoin is a very small industry if we compare it with banks. The entire cryptocurrency market can't be compared with banks as it is too small. So, it is not possible for bitcoin to trigger the banks' collapse.

You are comparing with something that has no equal. Bitcoin is not a company or financial institution. Bitcoin is an independent investment commodity. Not under anyone's control. Only market mechanisms influence it ...

[therozaq]

Yes brother you are right bank is a very trustworthy institution. Many people still do not know about Bitcoin. Bitcoin is the largest cryptocurrency. But compared to banks or the crypto market looks very small. That's why Bitcoin can't be the cause of bank failure. I agree with you. But I think one day Bitcoin will gain a reputation as an international currency.

That's true, I also believe one day Bitcoin will gain a reputation as an international currency. Bitcoin has been predicted to replace fiat cash. I think It is possible, when bitcoin is so popular and more valuable at the coming future.

[Bobcrypto]

Yes, as things are going on the crypto world, I will not be surprise to see bitcoin making the banking sectors of no effect in near future. Things are gradually moving very fast in the direction digital currency and with the blockchain technology, a situation that may affect the banking sector adversely. I thing bitcoin will gain more popularity which will reduce the business of banks especially transactions on sending and receiving money globally.

[debra]

Bitcoin may influence many people to use this and let them forget the bank system. However inf act, there still cannot make bank collapse The government will never d this their country is on the high trouble of the country systems, not really enough with everything that it needs certainty

[Rain075]

The way Bitcoin is going to gain popularity around the world, it seems that Bitcoin will bring a lot of changes to banks around the world.  We have seen that now people are transacting Bitcoin directly through banks. Thus, if Bitcoin is transacted through banks, then one day the bank will not be needed so much.  Then people will do all the work with this bitcoin.

[Azaleea]

I think that some sources of bank income will indeed decrease due to the increasingly rapid use of bitcoin, especially in global transactions. However, it will not make banks collapse or collapse, because banks still have a much larger source of income, namely from the retail sector in the domestic market ...

[Muneeb22]

Soon the banks adopts the crypto currency and they know that the Bitcoin and also the crypto coins is the future of the world and so many peoples will start trading in this market and it true and they make good money in it.

[lepbagong]

Soon the banks adopts the crypto currency and they know that the Bitcoin and also the crypto coins is the future of the world and so many peoples will start trading in this market and it true and they make good money in it.

In order to trade bitcoin at a bank, maybe it could still be considered and it could be done but of course it requires a renewable mechanism that banks must adopt. however, if it is adopted as a whole, it may be difficult for banks to do so because it seems imposing. let two different systems not be combined, because the mechanisms that have been running are very different, but to strengthen each other is the best way.
because there are still many who need banking with the system they have built.

[TomPluz]

This is a very advanced kind of thinking. Bitcoin and cryptocurrency has not yet make a very noticeable decrease in the market being serviced by the bank, no matter how we are so noisy in this industry. Plus we know that banks will eventually be dealing with cryptocurrencies as they are just doing business, and they are here to make money. Soon, there can be seamless integration between banks and some legitimate cryptos...so talking about collapse is a very so far-pitched kind of dream. Not to mention that bank collapse can have economic repercussions and the government usually bail out banks. Maybe we should be looking at the mirror and really determine our size...we are still a seed sprouting, and it can be taking many years before we can see the big tree  having its canopy and make a rule of its kingdom. The potential is there but we are not there yet.

[kent47400]

Bitcoin cannot do that because doing so is negative for all banks.
So in my opinion this Bitcoin cannot be conditioned with negative things to collapse the Bank because Bitcoin is clearly different paths and understands with the Bank.
This Bitcoin is an investment tool by those who believe and understand how cryptocurrency works, while the Bank is an intermediary for storing money and this money is what is kept by the public in the bribe bank secured.

[wxxyrqa]

I think that before answering this question, you need to answer other questions, namely, what exactly does the banking system do and what is the advantage of using Bitcoin and what is its functionality not only in the cryptocurrency market, but also for society. To a large extent, today Bitcoin is used as a valuable asset, not only for investment, but also for storage. and the banking system provides lending, financing and other financial services. If the banking system adapts to the new realities, then at any time it will be able to provide services to cryptocurrency users for storing Bitcoin and other services, since there will be a lot of cryptocurrency users who will want to have cryptocurrency, but will not have enough knowledge and experience.