Banks admit they fear BTC - page 14.

Tapyaks72

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Quote from: onebtcforlife on March 07, 2018, 03:42:06 AM

Banks are the major concern for the government because without Banks it is not possible to identify the transaction but Banks are facing problems with the Bitcoin because without any involvement of Banks people buying and trading the Bitcoin it makes very frustrating the banks. Mostly governments want to legalize Bitcoin only if Banks accepts.

Yeah of course will expect tha bank will go against bitcoin because as what bitcoin purpose decentralization is to avoid third party,whom you think are the party that is the bank. If the decentralized platform will prevail I am sure they have no place in system so as much as they do they will stop bitcoin at any cost.
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onebtcforlife

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Banks are the major concern for the government because without Banks it is not possible to identify the transaction but Banks are facing problems with the Bitcoin because without any involvement of Banks people buying and trading the Bitcoin it makes very frustrating the banks. Mostly governments want to legalize Bitcoin only if Banks accepts.

Pamadar

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Quote from: susuberuang on March 07, 2018, 02:48:51 AM

yes you are right this possibility bank just scared about the existence of digital currency like cryptocurrency that there can also be used to save money so bank only used to withdraw money only.

Banks owners knows how to play for their advantage, for sure they are just doing good advertising and creating bad publicity in order to hold much bigger stakes inside the crypto industry, it's the big businesses who always play around the market as we see that banks ceo like Jamie Dimon from jp morgan's already showed some statement about crypto stating negative position but for sure they know that they can't do nothing about it.

susuberuang

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yes you are right this possibility bank just scared about the existence of digital currency like cryptocurrency that there can also be used to save money so bank only used to withdraw money only.

rancidgash

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Quote from: romeo23 on March 07, 2018, 01:28:02 AM

Banks fear Bitcoin,and theres no doubt about that.With the constant research on and development of Bitcoin which seeks to solve new financial problems in today's Global economy,it is possible for banks to give way to a more decentralized system of performing transactions.Bitcoin and other Cryptocurrencies are not only secure but are also fast,anonymous,transparent and non susceptible to government or central bank interference.There is no reason why banks should not be afraid of them...

Governments and other powerful institutions that have been benefiting from the existing banking system can never be happy with Bitcoin. It takes power away from them. They will do anything to gain control over it, but they can only control exchangers and some transactions that they will manage to, but the entire system of Bitcoin remains beyond any government or institution.

Astvile

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Here in philippines,banks are somewhat contradicting and stopping bamk users upon using bitcoins.There are numbers of bank account deactivation that is happening here when a such user uses funds from bitcoins to cashing out to their bank services.They dont like the bank to get overcomed by bitcoins

Polipog

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In my country, I already heard a certain news about negative issues about bitcoin, it is actually a verbal warning from central bank to all investors in bitcoin to be careful because of the risk future. However, there is also a good news about adaptation of bitcoin, it is a union bank who will soon accept any bitcoin transactions. And hopefully the total adaptation of bitcoin in union bank will approved.

aeternus

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Quote from: magicmeyk on March 03, 2018, 01:36:36 AM

I stopped putting money in my account lately because some banks here in the Philippines are closing your account if your engaging bitcoin in your account.

That is to be expected banks and governments are every day more fearful of bitcoin and what it can be done with it and each day it passes and bitcoin keeps in thriving it is a sign of defiance against the current system, if people begin to stop using banks then the whole system crashes down but even if that happened bitcoin will still keep going so they cannot even use the strongest way they have to try to coerce people into following them which is to reset the economy.

romeo23

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Banks fear Bitcoin,and theres no doubt about that.With the constant research on and development of Bitcoin which seeks to solve new financial problems in today's Global economy,it is possible for banks to give way to a more decentralized system of performing transactions.Bitcoin and other Cryptocurrencies are not only secure but are also fast,anonymous,transparent and non susceptible to government or central bank interference.There is no reason why banks should not be afraid of them...

YinShuiSiYuan

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Banks will fight Bitcoin for a long time. The existence of bitcoin threatens their privileged position and takes profits from interest. More and more investments are financed by cryptocurrencies, where they can not control the flow of money.

carlisle1

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Banks should be afraid of crypto.because in the future they will be crying for this community to keep them alive..now they've got to go down to our level to get new clients.thats why in our region fees for open accounts for the bank goes very lower,from 200$ tp 20$ now

saqibmunir

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Quote from: toygama on March 03, 2018, 04:42:05 PM

Quote from: btc_angela on February 20, 2018, 04:52:33 AM

Quote from: gua86402 on February 20, 2018, 04:47:02 AM

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Right. Being in crypto, we are our own bank. So its obvious that banks doesn't like bitcoin because they are going to lose potential profits from it. Imagine people not going into the usual route when moving money around. That's billions of dollars getting out of their hands.

So to eliminate competition, they will attack it. They are waging wars against bitcoin now and I think it will be a continuing battle. But bitcoin will not eliminate banks, and it has no intention to do in the future.

Of course that's the game of the business the banks seen already that bitcoin is possible rival in their business, cryptocurrency can provide their own wallet it means less clients for the bank. Digital currency can manipulate its transaction by not doing the normal bank procedure. Banking business still needed for fiat transactions that's their advantage.

Yeah Banks in general, are always looking for ways to reduce their exposure to risk by balancing the profit from the provision of loans and investments on behalf of their clients. The bitcoin system in its present form should seem so insignificant in comparison with the usual operations of the bank, which, probably, is not worth contemplating.

miltonpogi

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For me, it is true that banks fear BTC, because as you see most of the investors find a investment sites that they can gather a large amount of money, that mentality of investors become the fear of banks to BTC, banks know that in transactions and holding BTC is more sufficient than them, but banks will never let happen that's why they are making some changes in their process.

RudeeTam

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It's a long time coming. With crypto making a killing in the market especially in global trading and making people money, they are very afraid that people might lose interest in investing in their stocks and putting their money in banks. But really, banks are still relevant with this kind of business and I believe they shouldn't be concerned much.

P3

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Everybody fears for something they can't control, same with govt and banks, since cryptographic money is decentralized, they can't just control the online market, however this issue is running since the day bitcoin snatches the consideration of citizens, this affirmation nailed it. In spite of the fact that it is evident and as of now anticipated that would happen. Govt and banks are additionally receiving, and truly into handicapping the market. In any case, bitcoin is path in front of them.

btc.xbt.btc

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It was obvious since the beginning. Anything that can threat the control they retain over wealth and money would fear them. And the fear is even bigger when they are dealing with something that is decentralised, harder to track and anonymous.

BTC-BTC-BTC

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I don't know is that big a problem as they think. Banks will come up with new ways to earn more incomes thru different ways. All the laws are setup to protect big banks in most countries. So I don't they have any problem in long term.

kissme09

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In my country because Bitcoin increasingly developed banks increasingly worried about it. They are afraid that Bitcoin will be the people's choice to keep their money instead of choosing the bank for the savings. This makes banks unable to scale their capital.

raidarksword

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Banks fear bitcoin because it can make them out of business in the future. Banks get profit from their depositors that is why they are doing everything they can to give bad reputation about bitcoin by talking out on medias. More people should be more aware about bitcoin because it can and surely will lift them up from poverty.

innocent93

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Somtimes is hard to belive in something when everybody are against it. The fact that everything went public it is just an other way of mass manipulation, i belive that behind doors banks and goverments are real investors in crypto.

Topic: Banks admit they fear BTC - page 14. (Read 2124 times)