Topic: Are The Banks Scared of Bitcoin? - page 4. (Read 1137 times)
Yes they are scared to what BTC can do to their centralized fiat currency,banks are starting to close bank accounts that has crypto-related transactions.
banks and governments of course do not like things that they cannot control. bitcoin has become very popular and even if the fees are high, people tend to think new ways and alternatives for investment and trade rather than real money. so they try to adapt to this new situation and that's why i think they support ripple as it is a centralized crypto.
I think bitcoins to banks are just petty money. It really costs nothing to them that is why banks don't care about bitcoins. Money and bitcoins cannot overcome one another. There must always be balance between the two in the circulation. Bitcoins may be higher in value but money is just more valuable compared and useful than bitcoins.
banks are afraid of bitcoin is just an issue, because the amount of bitcoin with the amount of money in banks is not very comparable and very large money in the bank. bitcoin are just some of the currencies that currently only have big risks for transactions. so the bank advises to transact with money not with bitcoin.
For sure banks are scared of Bitcoin! It's a threat to their business.
The smarter banks will be doing all they can to learn, understand & implement cryptocurrency & blockchain technology into their businesses though.
The smarter banks will be doing all they can to learn, understand & implement cryptocurrency & blockchain technology into their businesses though.
I dont think that banks are actually scared by cryptocurrencies or Bitcoin. I guess the smart banks are researching crypto integration for quite some time now and will be ready to adopt it when the time comes. I believe that the bankers wont be lazy when it comes to educate themselves about the inevitable. So in order to keep their power they surely are deep into Bitcoin and crypto. No doubt about that.
"Of course, if you run a very large US bank, you're most likely afraid of blockchain and bitcoin," says Preiss. However, Singapore-based wealthy advisors believe in the power of Bitcoin, which is essentially an alternative way to store assets. It is said that it could lead the "fourth industrial revolution". He told CNBC that the crypto currency could provide a viable alternative investor given the uncertainty of the lack of bank transparency.
"The focus is on the fragmented reserves in the banking system and the Federal Reserve's balance sheet at $ 4.5 trillion. Where the Fed has officially rejected the audit, "he said. "On the other hand, with Bitcoin blockchain, you can audit every day because it's open-source." Bitcoin uses blockchain technology to record every single transaction that has been done. That is, all users will be able to see the full from this digital ledger (blockchain).
"The focus is on the fragmented reserves in the banking system and the Federal Reserve's balance sheet at $ 4.5 trillion. Where the Fed has officially rejected the audit, "he said. "On the other hand, with Bitcoin blockchain, you can audit every day because it's open-source." Bitcoin uses blockchain technology to record every single transaction that has been done. That is, all users will be able to see the full from this digital ledger (blockchain).
dont know think its a fairytale to scare the kids?
how can possibly a transection take the electricity of a whole house!
did they meant a house with no electricity connection?
RIP logic!
how can possibly a transection take the electricity of a whole house!
did they meant a house with no electricity connection?
RIP logic!
Bitcoin and banks are different from one another.The banks may not be scared as the price of bitcoins is very much vulnerable and that's what gives them an upper hand.
All this talks are mere rhetoric by the banks and their owners to make sure they bring down Bitcoin. They are aware that cryptocurrency is the future of financial transaction any moment from now. They should embrace and corporate Blockchain in their operations to remain relevant.
ofcourse they are.. lots of money will be lost from them from transcations.
Ripple. good example that the banks are scared.
I see bitcoin as a threat to bank owners because customers who are inclined regarding bitcoin trade now prefers to invest there money on bitcoin trade instead of saving it in their bank account without getting value for their money in return.The bank now has less fund for business.
I think bitcoins to banks are just petty money. It really costs nothing to them that is why banks don't care about bitcoins. Money and bitcoins cannot overcome one another. There must always be balance between the two in the circulation. Bitcoins may be higher in value but money is just more valuable compared and useful than bitcoins.
banks are afraid of bitcoin is just an issue, because the amount of bitcoin with the amount of money in banks is not very comparable and very large money in the bank. bitcoin are just some of the currencies that currently only have big risks for transactions. so the bank advises to transact with money not with bitcoin. 
I think bitcoins to banks are just petty money. It really costs nothing to them that is why banks don't care about bitcoins. Money and bitcoins cannot overcome one another. There must always be balance between the two in the circulation. Bitcoins may be higher in value but money is just more valuable compared and useful than bitcoins.
I do not think banks are scared of bitcoin,and shouldnt be either. Traditional finance and banks will always have their place and cant be replaced by crypto-currencies. No matter how successful bitcoin or any other crypto currency is, the world still needs a regulated financial system or services which banks offer and it is not under threat by bitcoin, rather banks will keep creating scenarios for them to adopt bitcoin and other cryptos.
For me, Banks are not scared to Bitcoin, because Bitcoin is Legit.
The contemporary technology trend has forced banks into accommodating Bitcoin compulsorily.
Banks are scared, knowing fully well that it would be a serious threat to the banking industry, as a need for their industry has a tendency of fading off over time.
Bitcoin hyper speed right now makes some banking industry see it as a potential threat.
That is why banks are making things to contest in the government, especially here in our country, our central bank had issued a memorandum regarding an account which are related to cryptocurrency are subject for disclosure and a lot of people here had already closed account because banks were just obeying what the central bank had issued. Banks are scared, knowing fully well that it would be a serious threat to the banking industry, as a need for their industry has a tendency of fading off over time.
Bitcoin hyper speed right now makes some banking industry see it as a potential threat.
The contemporary technology trend has forced banks into accommodating Bitcoin compulsorily.
Banks are scared, knowing fully well that it would be a serious threat to the banking industry, as a need for their industry has a tendency of fading off over time.
Bitcoin hyper speed right now makes some banking industry see it as a potential threat.
Banks are scared, knowing fully well that it would be a serious threat to the banking industry, as a need for their industry has a tendency of fading off over time.
Bitcoin hyper speed right now makes some banking industry see it as a potential threat.
If US banks were to adopt a blockchain technology, it will be to reduce their own overhead and expenses, and I would guess they would keep it between bank-to-bank transfers.
I have a very dismal view of banks and how unlikely they are to make our lives any easier. I don't expect these archaic systems to be replaced anytime soon because 1) why spend the money? 2) there is now an industry of instant transfers that mask ACH in the background. Banks now have a similar service called Zelle. Want your money now instead of tomorrow? Sure, just pay our fee…
I'm in the crypto market as a way to make money outside the banking system. And for the foreseeable future, yes, I realize I will have to ultimately use ACH to get money back to my credit union…but it's the world I live in.
I have a very dismal view of banks and how unlikely they are to make our lives any easier. I don't expect these archaic systems to be replaced anytime soon because 1) why spend the money? 2) there is now an industry of instant transfers that mask ACH in the background. Banks now have a similar service called Zelle. Want your money now instead of tomorrow? Sure, just pay our fee…
I'm in the crypto market as a way to make money outside the banking system. And for the foreseeable future, yes, I realize I will have to ultimately use ACH to get money back to my credit union…but it's the world I live in.
I don't think that banks are 'scared' of bitcoin. Banks are now accepting bitcoin related transaction like transferring btc from your wallet to your bank account converted in fiat form. I think banks are starting to study the structure of bitcoin so it can be integrated with their services.
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