Post
Topic
Board Bitcoin Discussion
Re: Banks have nothing to fear from the bitcoin network
by
zimmah
on 02/10/2014, 02:46:32 UTC

When Alice buys bitcoins from Bob, fiat moves from Bank A(Alice) to Bank B(Bob), hence there is no loss for the banking system.
In other words banks have nothing to fear from the bitcoin network, right?



That only works as long as people use fiat.

Once enough people use bitcoin, those people can exit the fiat system forever.