Is Bitcoin Rioting Banking Solution

[Nomad]

Bitcoin will certainly disrupt the banking system. That's because people cannot only make their own money by mining bitcoin but use bitcoin to send and receive funds without any involvement of banks. They can be pay for goods and services and do not need banks to provide them any financial services.

 

[Riberet19]

Well, I think Bitcoin has already disrupted the financial system for some time now, but maybe it could have gone a little further, anyway, if people keep adopting it, more than one banker will get a headache haha.

 

[linux.poet]

I agree with what the author said about needing to purchase Bitcoin before a catastrophic financial event. It seems that in these instances that Bitcoin operates similar to a commodity like silver or gold - buying gold before the economic crash is an essential step to survive, so it is with Bitcoin.

I also like how the author describes the learning curve to invest in Bitcoin. It makes me wonder if Bitcoin's value is based on the value of the Internet itself and the value of collective Internet knowledge. We are abstracting currency into virtual currency in our Internet realms that can be bought and sold. What does the virtual realms offer us? Connection and knowledge, and the barrier to entry is a technical learning curve.

 

[FXOcrypto]

So far Bitcoin has not been able to replace banks in general, and in most countries, it is still an asset and not an official currency. Some investors do not dare to invest in cryptocurrencies because they do not want to invest in crypto because of the high risk. They prefer investing money in stock investment because the company exists.

 

[Henrywrites]

Bitcoins is breaking all the jinx imposed by the banks. All those unnecessary charges imposed by banks for keeping money with them are now things of the past. Also all the small interest given on some huge sum of money is long forgotten. I wish bitcoins will replace banking system soon.

Bitcoin is also a risky form of investment. When you have a closer look at how the price of Bitcoin fluctuates, you will agree with me that there is also that danger of the prices going down and your total investment reducing as well. Don't you consider that when compared to putting your money in the bank?