Hello! What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and high transaction fees.Banks cant control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.
It might kill the old banking system if it does not bend to suit the call of the times. However, it seems that the banks are fully aware that the technology brought by Bitcoin is the future and they are now making adjustments. Gone are the days when the banks remain adamant in their old system and put up a resistance to the growing popularity of Bitcoin. Today, even a local bank in my developing country is installing Bitcoin ATM.
Bitcoin does not lose its purchasing power in a similar fashion to fiat but its value could plunge anytime worse than fiat. Bitcoin's price fluctuates. But the good thing is that it could suddenly decrease as much as it could also increase very quickly.
Even despite some of the advantages of bitcoin, the banking system would continue to exist even if it had not adopted blockchain technology and cryptocurrency. Cryptocurrency and the banking system generally perform different functions. In banks, these functions are much wider. In addition, the banking system is under the reliable protection of states and they would not allow it to die, even if cryptocurrency posed such a threat to it. However, bitcoin and other cryptocurrencies do not affect the banking system so much as to fear for its existence. At the same time, banks fully accept blockchain technology, as evidenced by its use of the ripple network and the planning of the release of its national stable coin by many states. Banks and cryptocurrencies will exist in parallel with each other.