Post
Topic
Board Bitcoin Discussion
Re: is it true that bitcoin is a disaster for local banks
by
Harkorede
on 11/10/2018, 20:06:44 UTC
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

That's a false news, Bitcoin doesn't serve the function of a bank. You couldn't have had a $17,000 savings in your bank as of January this year and be told now that your savings has devalued to barely over $6,000 as at time of this post. That, literally is what a Bitcoin worth $17,000 at January is worth now. Of course it could have or could still worth more than the initial price of January and I'm not against buying of Bitcoins. The point I'm trying to buttress is that Bitcoin isn't regulated by a single body, its price is not fixed, neither can it be foretold and So, therefore can not serve as a bank.