Post
Topic
Board Bitcoin Discussion
Re: Bitcoin banking system
by
ampere
on 28/04/2020, 16:25:27 UTC
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 can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

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I do  not think bitcoin can kill the banking system. One of the core features of fiat is that it can be used locally in the local markets, There are several unlearned peeps in the local market who will always request for fiat as payment mode. There are some stuffs we buy that will always require fiats in cash no matter what.

Banks can indeed control bitcoin, by regulating the amount your credit / debit card can spend on crypto currency if need be.
Let us stop with the comparisons, both the bank and bitcoin will thrive together in the crypto sphere.