I don't think this is fully true. Bitcoin and crypto currencies do have the ability to reshape the landscape of finance but banks are well aware of the nature of disruption and will not let themselves fall into that Kodak moment of history.
Topic: Are The Banks Scared of Bitcoin? - page 5. (Read 1137 times)
yes of course they will start to be afraid of bitcoin because bitcoin is considered to attract people to save their money in bitcoin rather than store it in the bank so that if in the future bitcoin has been legalized by all countries then the bank system will start in leave and will move on to something making it easier for people to manage their finances and be more profitable.
Of course they afraid from bitcoin also from other coins because of fast transcation and after this technology banks will have too much loss in profit maybe in future they close their buildings.
Crypto currencies are of course a thread to banks, because the more people will start using it, the less they will use the fiat bank system. But the fiat bank system brings a lot of money to finance the state budget and the artificially created economic system. Online gambling is a good example to show the problem for the system. If you use fiat money and registered payment processors, then they see all your cash flow and report you to authorities or ask for taxes. With sending and withdraw crypto currencies, they know nothing and can do nothing! This is the huge difference and they know it.
The huge consumption of electricity is of course a good argument for them, but they forgot to mention how much electricity the artificially created economic and production system consumes.
The huge consumption of electricity is of course a good argument for them, but they forgot to mention how much electricity the artificially created economic and production system consumes.
Banks are afraid of Bitcoin because it would force them to innovate. It will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined.
Looks like that news is just a stunt to make people believe that bitcoin waste too much energy for a single transaction.
It is just a mere FUD. They are doing it for people to go back and support the banks.
Why? They might have seen a lot of money being withdrawn from their accounts and that is a big problem for them.
Remember that our money in those banks are being invested also. Without us they will sure have less profits for just a small investment.
Yes they are scared.
It is just a mere FUD. They are doing it for people to go back and support the banks.
Why? They might have seen a lot of money being withdrawn from their accounts and that is a big problem for them.
Remember that our money in those banks are being invested also. Without us they will sure have less profits for just a small investment.
Yes they are scared.
In some extent banks really scared by Bitcoin. But it could told about central banks and governments. Private bank corporations are trying to understand blockchain and use on its own future purposes.
I might say this but I think its a yes. Banks are really scared of bitcoin. Bitcoin could do anything while banks are just banks. Bitcoin is a flexible thing that occurred in this world. So it is better for us to have bitcoin. Just wait guys, bitcoin will do to banks what email did to post mail.
I would say yes for this question 
. All bank system in this world scared of Bitcoin so they're trying to make Bitcoin banned in their country by many ways. Bank system will have a big trouble when Bitcoin and other cryptocurrencies legalized in their country like they will lost a lot of money cause people will prefer invest in Bitcoin to bank,....It'll be a big problem for bank system.
. All bank system in this world scared of Bitcoin so they're trying to make Bitcoin banned in their country by many ways. Bank system will have a big trouble when Bitcoin and other cryptocurrencies legalized in their country like they will lost a lot of money cause people will prefer invest in Bitcoin to bank,....It'll be a big problem for bank system. 
I think that they wont scared of Bitcoin. the bank have many important roles in the economy meanwhile bitcoin is just a digital coin in payment. the banks even invest in Bitcoin
They can destroy Bitcoin if they want to. Remember what happened when a guy from the banks called Bitcoin a fraud and it dropped like 20%?
I think the banks are not afraid of bitcoin. If there are bitcoin the bank still exists and grows normally. Banks are the best place to store traditional coins. Bitcoin development is completely independent of the bank. And it does not depend on anyone. The banks are supported by the government and protected by law
I don't think so..All the banks do not fear to bitcoin. Banks already become one of the place that people trust to save their money. They already trust banks to do so many transaction for them. Maybe in this condition the banks are not scare but worry. They are worry to see the users of bitcoin increase day by day. They also worry that bitcoin able to do many transaction like they do. In other words we can say that the banks see bitcoin as their rival.
I'm sure that banks are afraid of the presence of bitcoin, this is because bitcoin users continue to increase drastically, so banks are worried that all transactions will be done alone by users through bitcoin.
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?
Totally ?! Banks are scared in bitcoin but not banks but goverments also so thats why some goverments ilegalized this because bitcoin is more fast and more profitable than banks . "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?
Bitcoin makes people become smarter and avoid banks to take care their money and their investments, so yes, they are scared, because they are losing profit opportunities with this, but they will never admit such things.
So banks use government to impose regulations on their citizens, in some countries the regulations are harmless, in other countries they are extremely harmful, it depends the strength and discernment of population, the characteristcs of the government and the influence the banks have in the respective country.
So banks use government to impose regulations on their citizens, in some countries the regulations are harmless, in other countries they are extremely harmful, it depends the strength and discernment of population, the characteristcs of the government and the influence the banks have in the respective country.
In my opinion, I think not. Banks around the world have no fear of Bitcoin. They have a long history of existence and development, an indispensable choice in financial matters. In addition, banks are under the management of the government, Bitcoin will not be able to cause fear for them because governments will enact legislation to regulate. Some banks also use Bitcoin's blockchain technology. Bitcoin and banks are not enemies of each other, I think so
I think so. The banking system is fully opposed to the expansion of Bitcoin because they think that with the increasing of Bitcoin popularity they will go down...
Basically, people have started investing money in the crypto world so that the concerned authority also believe that the importance of bank is decreasing day by day so that banks are getting scared of Bitcoin expansion.
Basically, people have started investing money in the crypto world so that the concerned authority also believe that the importance of bank is decreasing day by day so that banks are getting scared of Bitcoin expansion.
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?
"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 will probably say that they don't recognize the currency. Banks are holding centralized currencies. They probably see Bitcoin as a threat but scared of Bitcoin? It's hard to tell. Probably most government banks just don't want to recognize BTC.
There no any reason for banks to scare about bitcoin. Bitcoin is a virtual currency and if in future it is in routine use, then there is any issues for bank. Money and cryptocurrency both are on there place to not be interfere so bank dont need so scare about.
You need to learn more about the crypto economy before you comment here. Banks are financial institutions which are governed my corrupt governments to suit their own needs and that was supposed to be destroyed by crypto's decentralized nature of blockchain. While this may not have happened fully yet, banks are scared of the future and thus we have seen many banks taking up blockchain based technology for use.
I think bitcoin might be a threat or a solution to the banks. It might be a threat because they have no control to it unless the government implemented a law maing the exchange to fiat money illegal. A solution because more people are having a chance to earn as well which could increase the economy of a country.
Making fiat money conversions illegal is pretty longshot. They may try to regulate it in some way but I doubt it will happen.
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