Topic: Are The Banks Scared of Bitcoin? - page 7. (Read 1131 times)
They're not scared. There's just not any real threat just yet. Environmental factors such as political and regulatory support, widespread social buy-in necessary to create network effects, and even a proper technological base are still very much in the banks' favor. Real adoption of a crypto-currency based payment system, for example, is only realistic if the banks build that system themselves. There's no incentive to cannibalize their existing business though. Not at the moment anyway.They're definitely not clueless either. All of the big banks have published studies on the topic. Some of the analysis seems a bit crazy (UBS's paper from April 2016 was done by their equities department and seems delusional) but most of it is through nevertheless.
I wouldn't say scared, but they are watching bitcoin carefully because it might force banks to adapt their business models due to cryptocurrencies.Both are different methods of transactions. Should have no conflicts in future.
I do not understand what you are talking about. Mind improving your English? It need not be perfect but at least understandable.
My opinion in this is that the prevalence of Bitcoin started as a threat to banks because the former has likelihood of being banned by governments. Hence, the secrecy of its transactions may cause decreased demand for fiat currency thereby the functions of banks will run inutile. Nonetheless, if governments will regulate instead of banning Bitcoins, banks need not be scared of Bitcoins for it can use the latter to further its cause.
My opinion in this is that the prevalence of Bitcoin started as a threat to banks because the former has likelihood of being banned by governments. Hence, the secrecy of its transactions may cause decreased demand for fiat currency thereby the functions of banks will run inutile. Nonetheless, if governments will regulate instead of banning Bitcoins, banks need not be scared of Bitcoins for it can use the latter to further its cause.
yes because the amount of bitcoin is unnoticed
if you only have little bitcoin hid
they will be afraid that someday the money they have had to grow
that's what I see because the banks bitcoin fears
if you only have little bitcoin hid
they will be afraid that someday the money they have had to grow
that's what I see because the banks bitcoin fears
I don't think that Banks are scared of Bitcoin but yes, the growing popularity of the blockchain based cryptocurrencies is an alarming thing for the baking regulators to transform their traditional system to provide efficient user experience to the users.
* Bitcoin Not Threat to Global Economy, Says Bank of England.
Banks will definitely adopt new technology like Blockchain in order to survive in the market and tests are going in this regard,
* ICICI Bank executes India’s first banking transactions on blockchain in partnership with Emirates NBD.
* More than 75 banks are now on Ripple's blockchain network.
It would be really interesting to see the changes that will take place in the fund transfer industry in the coming decade. This decade will define the shape of the payment industry for this century in my opinion.
* Bitcoin Not Threat to Global Economy, Says Bank of England.
Banks will definitely adopt new technology like Blockchain in order to survive in the market and tests are going in this regard,
* ICICI Bank executes India’s first banking transactions on blockchain in partnership with Emirates NBD.
* More than 75 banks are now on Ripple's blockchain network.
It would be really interesting to see the changes that will take place in the fund transfer industry in the coming decade. This decade will define the shape of the payment industry for this century in my opinion.
If I think I'm afraid, because once bitcoin into account definitely amounts to many, different if little, but we know today many traders who already have hundreds of millions in the bank, the bank must be confused and confused because the money is usually minimal to maximum, the reply from the bank will get bigger right
I think banks are really afraid of bitcoin because this is a currency that will kill the idea of online banking because with bitcoin is a total package currency its decentralized and it has the ability to stand alone in the market because no one control it. Another thing is that banks only offer a very small interest rates unlike bitcoin it can actually give a 100% return on investment and no banks can offer such thing.
Еще не много и по цепочке пойдут друг за другом
As long as banks are able to adjust and embrace technology that many of them then they should not be afraid of bitcoin as a competitor.
Yes, they are. They don’t want to lose control over the system(money). Bitcoin is dangerous for them 
First of all the bank said that cause they want to brainwash the mind of the people. theirs no control of it... they cant avoid that the people get link to bitcoin cause its easy to access to it and easy to trade and you cant invest without paying tax to government....
you said that the bank one said that they want to see the end of bitcoin. Because the bitcoin is a head of them their assets is getting lower because some of people is more using convenient as their life time wallet than in bank. that`s why it is. this is my own opinion.
you said that the bank one said that they want to see the end of bitcoin. Because the bitcoin is a head of them their assets is getting lower because some of people is more using convenient as their life time wallet than in bank. that`s why it is. this is my own opinion.
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?
Bitcoin is not a threat in the banks. As a matter of fact, it can be integrated in banks. Bitcoin will serve us the future currency and the banks can work with it. The innovation of bitcoin will influence to all of the people to use cryptocurrency rather than fiat currency and the banks must not afraid of this. Digital currency is useful nowadays and I'm sure someday banks will make a way just to be a part of economic trends."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 ABSOLUTELY AGREE. I, too, once have read that banks will do everything in its power to sustain its business. And if it includes accepting cryptocurrencies as deposits, why not? Nothing will be lost on its end. In fact, they can gain a lot from the proliferation of cryptocurrencies in the market. It is the fiat currency that is quite on the edge. To say banks are scared of cryptocurrencies is inaccurate because banks can surely take on its business whilst accepting cryptocurrencies.
As long as banks are able to adapt and embrace the technology which many of them are then they don't have too much to fear in terms of becoming irrelevant.
They will have to fear bitcoin as a competitor, I think both can exist in the same space.
The upgrading of system like using debit cards or atm to transfer accounts from digital wallet, they must integrate bitcoins in investing with a total packed of security. In that case, they must not be afraid with bitcoin but they must innovate themselves in order to acquire the system of present. They will have to fear bitcoin as a competitor, I think both can exist in the same space.
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?
Bitcoin is not a threat in the banks. As a matter of fact, it can be integrated in banks. Bitcoin will serve us the future currency and the banks can work with it. The innovation of bitcoin will influence to all of the people to use cryptocurrency rather than fiat currency and the banks must not afraid of this. Digital currency is useful nowadays and I'm sure someday banks will make a way just to be a part of economic trends. "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?
mostly banks are happy about bitcoin as it goes up and down and as people trade bitcoin they have to go through banks to get money in and out of exchanges and that is a lot of transactions and a lot of fees they are earning because bitcoin exists!!
and bitcoin is too small to threaten banks. at least for years it will be the same. unless something like Lightning Network comes and lives up to the promise an actually be used with lower fees not higher costs. that would be when they really fear it.
and bitcoin is too small to threaten banks. at least for years it will be the same. unless something like Lightning Network comes and lives up to the promise an actually be used with lower fees not higher costs. that would be when they really fear it.
the banks had to invest in bitcoin some time ago, I think they take advantage of this mode and after they will try to destroy it
I wouldn't say scared, but they are watching bitcoin carefully because it might force banks to adapt their business models due to cryptocurrencies.
bitcoin is a threat not only to bankers but many financial institutions due to current and consistent rise in the price of bitcoin which being monitor by medias. these has caused many banks and financial establishment to lost investors as many people are now turning to investing in bitcoin. this will actually be favourable for bankers and that is the reason why central bank in my country are discouraging people from investing in cryptocurrencies. i hope it wont get regulated.
the ultimate goal of the banks is to make money.
they will seize the opportunity that bitcoin and other cryptocurrencies represent and make the most of it.
it went too far for them to even entertain the idea of fighting it.
what we all can expect shortly thou is more intensified efforts to regulate it.
they will seize the opportunity that bitcoin and other cryptocurrencies represent and make the most of it.
it went too far for them to even entertain the idea of fighting it.
what we all can expect shortly thou is more intensified efforts to regulate it.
in my opinion, bitcoin and other digital currencies should not be seen as a threat that disrupts banks, credit card networks or other traditional remittance providers. but rather as a complement of a potential for existing services.
as bitcoins and digital currencies are better prepared to open up new markets and reach new consumers, and centralized payment systems that are efficient enough for right now trading.
as bitcoins and digital currencies are better prepared to open up new markets and reach new consumers, and centralized payment systems that are efficient enough for right now trading.
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