Yes they are because crypto currency is not even in the control of banks. They are a great system and maintaining a check and balance of assets of people their income and their other activities with the help of their bank account details as they could provide it to the local government in any case .
But with crypto currency no one is having information about the assets a person is having. So Banking system may be failed in the case.
Topic: ㅤ - page 4. (Read 800 times)
Oh, they were ready to worry when intermediaries and bank staff departments would have to be unemployed. Mass adoption of blockchain in financial matters won't be earlier and easier, but it's almost certainly created that scenario. Banks being "removed" of their powers over traditional finance would be almost. Not to mention, the regulations to create a balance between benefits and risks have been imbalanced, and it is natural to change. It's difficult to say simple or more complex changes in the future but here we are, a way to choose a future of exceptional value - bitcoin and crypto
yep imo they are very scared of crypto...
Until now crypto is still a hot discussion in various countries, pros and cons occur everywhere, seeing the current situation, banks are afraid of people adopting crypto so that they lose the money they have been enjoying.
Until now crypto is still a hot discussion in various countries, pros and cons occur everywhere, seeing the current situation, banks are afraid of people adopting crypto so that they lose the money they have been enjoying.
My nation's diasporal remittance dropped by about 80% because the people suddenly discovered the banks are fleecing them and ths diasporal remmitance makes up part of my nation GDP so the apex bank governor is confused in a bid to trying to save his job, he makes too many mistakes with cryptocurrency traders track down. He has failed too. You can't stop a technological advancement.
It's what happens with many countries... at least from what I read in the news around! And the numbers are rising, as you are saying, nobody can't stop technological progress, banks and governments are slowing it down, but they can't stop it! Simply people alone discover new opportunities that can make life easier for them, and in many ways cheaper... so I agree that bank sector is confused in trying to save their jobs, and they will be able to do it for some more time, but I guess their future is already decided!
If banks could only do it easily but certain regulation towards certain countries stop this that's why we can see it having difficulty to happen. But I believe in future we can see this to happen but we need first to see a major adoption and also many countries to make it as their legal tender but for now its hard knowing government is skeptical about this technology.
That is why we hard to see the innovation from the banks related to crypto and they need the order from the government to start integrating crypto into their system. The major adoption will come soon. Maybe next year, we will see a big adoption everywhere, giving more opportunities for crypto to grow more. As long as the government can open their mind about the new thing, I think that can help crypto enter their finance system after the government sees some country's success implement or adopt crypto to their finances. It will attract the government to try learning.They are not waiting for the "governments" order. They just don't want to touch crypto currencies right now because of various complicated reasons. There are already few banks that has integrated crypto currencies and are in testing phase. More banks will eventually adopt crypto currencies as they are fully aware that these currencies are the future. They know if they don't accept crypto currencies, they will eventually lose their power. So embracing crypto currencies is inevitable. But do we actually want them to adopt crypto currencies? Because banks and decentralization isn't a good match. If banks take over crypto currencies, decentralization will somewhat be lost.
But no matter what, the banks are still under the government and they can not do something without telling the government. If they have already integrated cryptocurrencies and are in the testing phase, maybe they only need agreement from the government to be fully adopted by the banks. Maybe they will announce that they also build their own system in blockchain so that they can collaborate with the crypto. Whether they want to adopt cryptocurrencies or still need time to adopt cryptocurrencies, that will be up to them.
Unfortunately all the indications are that banks don’t like crypto and don't want crypto adoption only if it's not CBDCs. They can’t control it and get commissions from transactions, from profit and from mining. Their expression of outrage makes sense as they lose money that must fill them. In El Salvador central bank immediately provided mobile app with obligatory KYC (to control crypto resources and people, who use them). China that seemed for me loyal to crypto, this year banned BTC mining and USA wants to do the same. What is this if not anxiety of banks that doesn’t get commissions and can’t have a total control among money their people use?
My nation's diasporal remittance dropped by about 80% because the people suddenly discovered the banks are fleecing them and ths diasporal remmitance makes up part of my nation GDP so the apex bank governor is confused in a bid to trying to save his job, he makes too many mistakes with cryptocurrency traders track down. He has failed too. You can't stop a technological advancement.
The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.
They are not waiting for the "governments" order. They just don't want to touch crypto currencies right now because of various complicated reasons. There are already few banks that has integrated crypto currencies and are in testing phase. More banks will eventually adopt crypto currencies as they are fully aware that these currencies are the future. They know if they don't accept crypto currencies, they will eventually lose their power. So embracing crypto currencies is inevitable. But do we actually want them to adopt crypto currencies? Because banks and decentralization isn't a good match. If banks take over crypto currencies, decentralization will somewhat be lost. 
maybe, big percentage they afraid of this.
simple think is how great crypto can make bank drop, its not all people use crypto but they know if it lasts too long it will be bad for them. technology advance make people feel what easy is, and money will be good foundation for this things.
Banks wont really be that afraid.Why? They do play up a big role on countries economy or in overall aspect which crypto couldnt able to do.We need centralized system which do functions up on a particular aspect.simple think is how great crypto can make bank drop, its not all people use crypto but they know if it lasts too long it will be bad for them. technology advance make people feel what easy is, and money will be good foundation for this things.
They arent afraid and could rather accept or adopt it if government permits them.They are still really relying into governments decisions when it comes
to this one.
They could really be versatile all the time they do want it.
I would say that making the loans as legal as the banking industry would make it easy enough, right? I mean let's assume that I give you a loan of 5k dollars myself, and you take it, and you do not pay it back, what can I do from the other side of the world? I would probably have to go through a lot of legal red tape just to open a lawsuit to someone in another nation. All in all banks have paperworks and laws for them that keeps people paying or even if they do not at least banks seize their things.
This is why I keep saying that there is a good case to be made about this situation with crypto, if banks do the same with crypto, make you sign bunch of paper, then legally you have to pay or if you do not pay then they come to your house and take your stuff and all that, that makes sense right? I can't really say much different about it, that seems like the only way for crypto to be used in loans.
This is why I keep saying that there is a good case to be made about this situation with crypto, if banks do the same with crypto, make you sign bunch of paper, then legally you have to pay or if you do not pay then they come to your house and take your stuff and all that, that makes sense right? I can't really say much different about it, that seems like the only way for crypto to be used in loans.
The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.
Yes, after all, the bank's orientation is business and profit. If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.
If banks could only do it easily but certain regulation towards certain countries stop this that's why we can see it having difficulty to happen. But I believe in future we can see this to happen but we need first to see a major adoption and also many countries to make it as their legal tender but for now its hard knowing government is skeptical about this technology.
even so, there is still a chance to adopt it, especially since we can see that crypto is experiencing good development every year,
so it should be usable and we'll see later
maybe, big percentage they afraid of this.
simple think is how great crypto can make bank drop, its not all people use crypto but they know if it lasts too long it will be bad for them. technology advance make people feel what easy is, and money will be good foundation for this things.
simple think is how great crypto can make bank drop, its not all people use crypto but they know if it lasts too long it will be bad for them. technology advance make people feel what easy is, and money will be good foundation for this things.
The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.
Yes, after all, the bank's orientation is business and profit. If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.
If banks could only do it easily but certain regulation towards certain countries stop this that's why we can see it having difficulty to happen. But I believe in future we can see this to happen but we need first to see a major adoption and also many countries to make it as their legal tender but for now its hard knowing government is skeptical about this technology.
Crypto remains incapable of entering loan markets. There is zero penetration of student loan, home loan and car loan markets for cryptocurrencies. A trend which is likely to remain constant heading into the future. There is also not much cryptocurrency support for pensions, healthcare and other big dollar markets where banks and established financial institutions dominate.
There are definitely areas where crypto has advantages over banks. But can anyone imagine a scenario where student loans, home loans or car loans become crypto supported industries? Banks can have no fear of crypto seeping into those markets. Conflict between the two could be ideological. Banks favor centralization, crypto leans towards the opposite. Banks favor fractional reserve inflation. Crypto has enjoyed success with deflationary models.
It may be fair to say fear is an obstacle to progress and science. No one need fear cryptocurrencies, as they carry a potential to make life better for everyone, bankers included.
There are definitely areas where crypto has advantages over banks. But can anyone imagine a scenario where student loans, home loans or car loans become crypto supported industries? Banks can have no fear of crypto seeping into those markets. Conflict between the two could be ideological. Banks favor centralization, crypto leans towards the opposite. Banks favor fractional reserve inflation. Crypto has enjoyed success with deflationary models.
It may be fair to say fear is an obstacle to progress and science. No one need fear cryptocurrencies, as they carry a potential to make life better for everyone, bankers included.
The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.
Yes, after all, the bank's orientation is business and profit. If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.
I mean giving up the bank as a custodian of savings (deposit), as well as using the bank as a money transfer, for example.
The bolded part is probably not going to happen anytime soon though. Most people are bad in keeping their money save and banks always provide the 'illusion' that they will keep your money safe for you so people are probably not going to move away from this illusion. As for money transfer, as long as people still keeps their money in banks then people are still going to transfer their money through banks as well
But how do you counter the fuds that's been published in various media? Market manipulation, rug pull, scam, and exploits became very common in crypto and media made big coverage about this news. Those people who don't know much about crypto will be afraid to invest in crypto by concerning about their investment security. People still have negative sentiments about crypto and they want a guarantee before risking their money. So there are still lots of places to improve before mass adoption.
Ignoring it? I mean surely there will be a lot of people who will not ignore it and sell but as long as you do, then you are going to be fine. I personally ignore all the FUD because I am a long term holder and I can do that, if you are a day trader or you do leverage trading then you are going to end up with not such a great return for it and it will be a big loss for you if you are on the wrong direction, whereas when you are a long term holder even if they drop the price with a huge FUD all going around the big media, then it will recover eventually and you will not feel it.If I could wait during the 2017 to 2020 era where the price did not recover back to 20k, then I can wait out all those FUDs and other stuff they can throw at me in the future as well. Trust bitcoin and do not forget to keep buying more to profit bigger in the future.
The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.
Yes, after all, the bank's orientation is business and profit. If Crypto is legalized for the public, the Bank's position can be as an intermediary for Crypto against Fiat while Crypto will actually have difficulty in approval as a legal medium of exchange because stability in Crypto is difficult to obtain but it can be an investment asset and this is a business opportunity.
Banks have personal reasons why adoption is impossible and one of them may be because of their desire to own a fully centralized cryptocurrency. The adoption of crypto, especially bitcoin, will only make them lose their income in the form of investing in customer funds that they have been using, people prefer bitcoin which is very easy to make transaction and many other things.
Sounds like a financial hero who wants to save customers from the temptation to profit from crypto, but can customers resist the temptation of cryptocurrencies? besides the risk that it cannot guarantee 100% security, crypto traders will not stop before trying it to eliminate curiosity. Only then can they judge which ones are good for their finances and which ones are bad for their future.
The banks are not afraid of crypto adoption but they are following the government regulations so they depend on government orders if they need to integrate their system. Once the government asks them to learn about crypto for more, they will use their resources to know what crypto is and integrate it into their system. Maybe the banks are now trying to integrate their system but they do not tell the public about that because they wait for the government's instruction.
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