Bitcoin isn't in direct competition with the financial industry in any meaningful way. It's basically just another currency like all the others in the world. Th

Bitcoin isn't in direct competition with the financial industry in any meaningful way. It's basically just another currency like all the others in the world. The financial industry doesn't suffer from servicing new currencies. Bitcoin is more in competition to fiat money, since it is not issued by any government and is extremely hard to control or track. But even if it's not in competition,the ideas behind Bitcoin are very useful for making banking more efficient and cost effective.