i think that bitcoin will not be a great threat for banks but rather it will be their biggest competitor it's all about competency I think because there were features that a bank offers that bitcoin doesn't have and there were features that bitcoin has that banks don't.
Competency in the market I think is the real thing about this.I think there were banks that accepting crypto?
Topic: Are The Banks Scared of Bitcoin? - page 3. (Read 1131 times)
Practically speaking its a big yes they scared because mostly of their client deposited a money not only to put their money in a safe but also to earned a small percentage given by a bank. Now the crowd of acryto world is too high the popularity is too high a biggest posibility some of their depositors will change their strategy to invest and joining the crytoworld because here in cryto they can earned a big profit in just a split of a minutes.
But I think some of the banking officers now are making a plan on how to be involve in cryto world and soon they will adopt digital currency in no conflict in a banking business.
But I think some of the banking officers now are making a plan on how to be involve in cryto world and soon they will adopt digital currency in no conflict in a banking business.
The banks have now turned the tables and are now selling their RIPPLE for BITCOIN and ETHERIUM, they are NOT accepting USD for this.
So all the time, since 2009 and recently with the soaring BTC price, are they wanting a part of the action.
So even though they tell you NO.... the banks LOVE BTC.
So all the time, since 2009 and recently with the soaring BTC price, are they wanting a part of the action.
So even though they tell you NO.... the banks LOVE BTC.
Banks have a threat of Bitcoin because too much popularity of Bitcoin and its secure safe transactions,Banks must realize now that Bitcoin is a also medium for investments and secure way to to do safe transaction which will helpful for banks to increase their profit and efficiency of services well.
Banks has been in existence for centuries and will continue to exist. Bitcoin cannot take nor replace banking system, rather, a way will be made for they both to work together. Crypto currency is a digital currency and is been used by lots of people (but not all), banks are used by all citizens of a country. If they don't attract to each other, then they will have to remain the way they are.
Yes. Banks are scared of Bitcoin. It disrupts the need for a bank to intermediate transactions. You don't need a driver's license to open an account, and you don't pay account fees.
That is a bit simplistic. You don't pay account fees, but you also don't get interest on your balances. You also have to pay transaction fees to the miners.
As far as handing over your driving licence is concerned, it is a requirement of governments, not banks. Not long ago, Swiss banks were famous for offering numbered accounts. Soon you will find that government requirements percolate to the Bitcoin world as well.
No matter how you present it, I would not easily believe that a machine will consume energy of an entire month for just a single transaction. This can't be true, it simply can't. No wonder banks hate the decentralized money. Of course they hate it. Their business is running low because of crypto currency. People are likely to find their security in Bitcoins to save their money. If people stopped saving in bank then bank can no longer be able to loan money to their customers which results that the banks can't make profit. So, they are scared of Bitcoin, they just can't stand crypto currency.
I believe there are will be a revolution in the banking system because nowadays we can see the how fast the crypto world is growing so many huge companies are involving to cryptocurrency to make a change so many people are changing their lifestyle with cryptocurrency social system also changing in a fast way , BITcoin will make a turning point in global economy no one can stop that ,lot countries financial status will be change because of this
Yes. Banks are scared of Bitcoin. It disrupts the need for a bank to intermediate transactions. You don't need a driver's license to open an account, and you don't pay account fees.
To own a bitcoin you do not need to provide any details but in order to trade you need to furnish your entire details and documents. 
Bitcoin wont scare banks as it does have its negatives to accommodate everyone in the bitcoin world,so there is nothing to worry for them as they very well know about the problems bitcoin is facing.
Definitely. There are some banks, even in my country which are banning transfers and transactions to the exchanges. What does this show? They are definitely afraid that in the future their business will be taken out.
I don't think that banks are scared. But they don't like crypto-curency for sure. It's all becouse that people don't need banks to store their currency like BitCoin so they can't get profit from it.
Yes. Banks are scared of Bitcoin. It disrupts the need for a bank to intermediate transactions. You don't need a driver's license to open an account, and you don't pay account fees.
Banks are not scared of Bitcoin, they are scared of its use and users. Moreover at the moment Bitcoin can never disrupt the transaction made using the banking system. The fees are way to higher for now. But yes the other cryptocurrencies can be used for transaction for now.
And Banks are mostly scared of money laundering along with fear of economic loss. They just want the governments to make restrictions and rules. They fear the cryptocurrency system I believe, not Bitcoin alone.
Yes. Banks are scared of Bitcoin. It disrupts the need for a bank to intermediate transactions. You don't need a driver's license to open an account, and you don't pay account fees.
I think so, because now a days cryptos are great idea to make more money in investment field . So this environment make banking sector dull. So they are trying to make afraid people about investing in crypto currencies.They believes that these crypto currencies may end up the banking sector in future.
Bitcoin and other cryptos are not a serious threat to the banks yet. Moreover, if you take into account all the problems that Bitcoin has with his high fees, it is pretty hard that it could be a threat to the banks in the near future.
Not really. People will always be needing banks for the next 100 years. Not until blockchain's potential have been unlocked will we not need the current state of banks.
In the next years, surely banks will adapt and find other purposes or maybe use blockchain to improve their services and introduce more accountability for our money.
In the next years, surely banks will adapt and find other purposes or maybe use blockchain to improve their services and introduce more accountability for our money.
They dont need to scare from bitcoin. They can use bitcoin or ethereum s high tech blockchain infrastructure for their transactions. Or they can use an other blockchain based infrastructure for more security and lower cost.
I read an article on Business Insider, Inc. and couldn't help thinking many banks would like to see the end of Bitcoin.
"Miners are turning to more powerful computers to complete these tasks and earn bitcoin. As a result, mining (and on the flipside, bitcoin transactions) are sucking up greater and greater amounts of electricity. Bitcoin transactions now use so much energy that the electricity used for a single trade could power a home for almost a whole month, according to Dutch bank ING"
- Businessinsider@ businessinsider.com
What do you think would be the impact of the anti Bitcoin sentiment of the bank knowing they wield a lot of influence with the governments?
Is Bitcoin really an identifiable threat to banking?
What measures must traditional banking adopt so as not to miss out if Bitcoin would dominate the future?
This is a decentralized currency not controlled by anyone and now people around the globe are taking more interest in buying this currency and that's why the market cap exceeds $250 billion.The banks are issuing warning against its usage but they are not afraid of it as they have lot of work to do and faith people have on them cannot be vanished.They supply legal currency to communities and are source of money exchange so they are not afraid of btc into power but still taking precautionary measures to fight against it. "Miners are turning to more powerful computers to complete these tasks and earn bitcoin. As a result, mining (and on the flipside, bitcoin transactions) are sucking up greater and greater amounts of electricity. Bitcoin transactions now use so much energy that the electricity used for a single trade could power a home for almost a whole month, according to Dutch bank ING"
- Businessinsider@ businessinsider.com
What do you think would be the impact of the anti Bitcoin sentiment of the bank knowing they wield a lot of influence with the governments?
Is Bitcoin really an identifiable threat to banking?
What measures must traditional banking adopt so as not to miss out if Bitcoin would dominate the future?
I would not say that as banks are having their own regulations and way of functioning in the system. BTC can only merge with the banks as payment option or payment processor but still i dont know what are the other options available. Still i feel banks have their own rules and way of workign which are user friendly and transparent as well , but i would love to see BTC in the banking system as well in any form.
Banks are scared of all cryptocurrencies in general. To elaborate, the use of the mentioned are increasing day by day which affect the economy of a country. So instead of relying on banks, people tend to rely on cryptocurrency because it has various advantages.
On the other hand, the government intervention is crucial to overcome any economic crisis. That is why either they ban bitcoin or put some regulations, and in the meanwhile, they share a percentage of the profits.
On the other hand, the government intervention is crucial to overcome any economic crisis. That is why either they ban bitcoin or put some regulations, and in the meanwhile, they share a percentage of the profits.
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