Can bitcoin trigger the banks' collapse?

[sampoerna]

The bank is a centralized system and Bitcoin is not. Whatever the power of Bitcoin, it can't never trigger banks because this has a big ecosystem, protected by the government and also under the law. As long as banks still work under the rules, they will always exist. In this case, we don't want to trigger banks but to make easier life with BTC

[lepbagong]

The bank is a centralized system and Bitcoin is not. Whatever the power of Bitcoin, it can't never trigger banks because this has a big ecosystem, protected by the government and also under the law. As long as banks still work under the rules, they will always exist. In this case, we don't want to trigger banks but to make easier life with BTC

The two systems are made differently and it is unlikely that there will be overlapping treatment between the two because the systems that have been made have differentiated there will be no contact between them. as long as it is carried out with existing corridors.

It is true that you say that the bank is a state asset which is clear there are rules made to ensure that no one can intervene by anyone because the state really needs to move the wheels of the economy and is made based on clear laws so that the force of law is attached to it.

let the system run on its own but support each other for progress, especially clear for bitcoin so that there is convenience that can be provided by the state, because recognition by each country for bitcoin is not the same.

[0t3p0t]

I don't think the central banks allow this to happen because we all know that they want to control everything we have as long as it is a centralized asset. Bitcoin can only trigger if the people in a country will no longer use the local currency in some transactions but that is not possible for now because the ratio of those who use crypto in a country is lower compared to the fiat users. Even us crypto enthusiasts still use fiat in our everyday lives.

[Azaleea]

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.

I don't think so. Banking regulations will refer to the rules made by the local government. Meanwhile, until now there are still many countries that have not legalized bitcoin.

[Wedhus Balap]

Until whenever bitcoin will not be able to destroy the banking industry. Unless all countries in the world have recognized, accepted and formalized bitcoin as a legal means of payment

[Jaguar]

Banks might collapse once bitcoin dominate the entire economic financial world status and banks will not merge to Bitcoin platform collapse is possible. Investment in Bitcoin now is in demand due to corona virus that hit the globe whether rich and poor both are possible victim of virus. Banks now are on the process to upgrade and apply the digital aspect to reach the costumers.

[mlawson71]

I really hope we don't see such cataclysms. That would be bad for a whole lot of people.

[Fenix]

Banks might collapse once bitcoin dominate the entire economic financial world status and banks will not merge to Bitcoin platform collapse is possible. Investment in Bitcoin now is in demand due to corona virus that hit the globe whether rich and poor both are possible victim of virus. Banks now are on the process to upgrade and apply the digital aspect to reach the costumers.

The banking system will not collapse because it is actually part of the state. For the banking system to collapse, bitcoin must simultaneously destroy the state structure of our society. Bitcoin has not the slightest chance against states. States can easily destroy Bitcoin, and with it the entire cryptocurrency market, especially if they unite for this purpose.
Therefore, the task of bitcoin is not to conflict with states and their banks, but to become an alternative payment system that will complement the existing payment system.