Bitcoin Versus the Bank, Who Will Win?

In the epic battle of Bitcoin versus the banks, there are people that stand on both sides of the war. There are those that say Bitcoin will be around long after the banks have come to an end. This may not be the case, according to a number of experts that say that banks still have ample life in them if people will keep their faith in them and not run to the new fads that seem to pop up all the time. There are those that will say even though it has been around for more than eight years, Bitcoin will still fail and that Banks are the way to go. Let’s take a look at these and see which one will be your best choice.

Bitcoin has a reputation for being a new form of currency and as a result of that, there are those that will be a bit slow to embrace this as a new way for them to keep their funds in a new form. They will many times prefer the ability to walk in and withdraw their funds from the bank. While this is a good way of doing business, there is a sense that the overall sense is that we are moving to a more online and virtual form of currency. As a result of this, they will not be in a hurry to embrace Bitcoin and will want to keep their account at their local bank. Since Bitcoin isn’t a bank, you don’t need to care about issues such as the need to apply for credit card with bad credit. Your credit rating doesn’t matter with Bitcoin.

There is a drawback to the bank concept as it is looked at as being old and outdated on a lot of levels. One of the main things that is talked about these days is the ease of how a person can hack into a bank and empty out accounts in a matter of minutes as opposed to that of Bitcoin that makes this a lot more difficult. The few hacks that have resulted in Bitcoin have happened not because of the platform, but instead of the applications that third party’s ten to use a lot of times.

Your money will be safe in both forms of storage, it will simply be a matter of which one will still be around years from now and which one will have fallen off the map and become obscure in terms of the public using it. Odds are that if you are placing your money with Bitcoin, then you will have made a very wise decision and will see the many benefits that come from using something that is without a doubt a lot more secure than a traditional bank.

There is no right or wrong answer when it comes to this subject, the only answer will be that of which form of banking do you feel more secure with, odds are that you will answer Bitcoin and will go to that form. The end result will see the end of banks as we know them and will see a rise of things like Bitcoin as the new way of doing banking.

Previous post

When It’s Okay to Say Goodbye to Your Friend with Mental Illness

Next post

Which Volkswagen can do the most miles per gallon?



Ive been blogging now for 5 years on various sites for the love of knowledge share. I decided to start my own blog a few years back to share everything from tech to business news. Follow me on twitter for more.