Banks admit they fear BTC - page 7. | Bitcointalksearch.org

cotton ball

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Quote from: lehuong on May 19, 2018, 08:39:39 PM

Banks are afraid of bitcoin because they do not manage the bitcoin as well as the huge bitcoin power, even an ico project can mobilize capital in a shorter time than they have earned for the years they did. They are very strong about the capital, they fear their role will be affected

it would be a special fear for the state banks, but not so with private banks where they would be better as service providers and systems when combined with blockhain, but they must comply with government policies so that it can only convey skepticism. MUFG bank (Japan) has been able to better implement both and prove to the world that the balance can still be achieved with clearer legal tender rules.

lehuong

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Banks are afraid of bitcoin because they do not manage the bitcoin as well as the huge bitcoin power, even an ico project can mobilize capital in a shorter time than they have earned for the years they did. They are very strong about the capital, they fear their role will be affected

2@abcdeeply

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Quote from: billknight on May 19, 2018, 02:53:41 PM

I do not think this is true. But if banks are afraid of BTC, why do not they accept the BTC and develop it based on electronic money? Banks will lend money electronically and we will send Bitcoin to the bank

Banks are afraid of BTC development, if the development of Crypto market will occupy a large number of customers of the Bank, the Bank is more difficult to mobilize capital and loans. The second thing is that the bank can not mobilize capital and lend to BTC, because they are very risky.

poplolnman

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Quote from: Cult on May 19, 2018, 03:18:08 PM

Quote from: billknight on May 19, 2018, 02:53:41 PM

I do not think this is true. But if banks are afraid of BTC, why do not they accept the BTC and develop it based on electronic money? Banks will lend money electronically and we will send Bitcoin to the bank

Banks are not one solid entity. The ones who are intimidated by crypto are those who are very close to governments and are afraid of losing their power and influence.

They are only interested in Bitcoin blockchain technology , not the whole Bitcoin things adopted , some conventional banks already make their own research to apply the innovation.
Let's see what would happened later , the real future money in crypto or we would stuck on crazy banking system that make us always in disadvantage.

omitusaf

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There's a way they can form a formidable partnership with the blockchain and cryptocurrencies, something Ripple is trying to do. Simply fighting against something they perceive as a threat would only make things worse for them. But if they adjust their policies to accommodate the crypto revolution, they would see a great change, howbeit their monopolistic power would be greatly reduced.

Reid

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Quote from: Cult on May 19, 2018, 03:18:08 PM

Quote from: billknight on May 19, 2018, 02:53:41 PM

I do not think this is true. But if banks are afraid of BTC, why do not they accept the BTC and develop it based on electronic money? Banks will lend money electronically and we will send Bitcoin to the bank

Banks are not one solid entity. The ones who are intimidated by crypto are those who are very close to governments and are afraid of losing their power and influence.

You hit it right.
But almost all of them are with the government. Remember, they can take something out of you bank funds if you cannot pay tax or mortgage or anything that is in the government circle.
How could they do that? Isnt it unfair?
What if that is the last money that I got to make budget while I still do not have my first salary from my job?
They do not think that way. They just take. They hate freedom although it looks like a free country outside.
It cannot happen, people should not be free and bitcoin is a problem for them. Steps have been seen creating panic to the hodlers. This should not be the true value of BTC by now if not for them.

coingrowth

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bitcoin is helping banks rather than being afraid of banks we should understand bitcoin is the future of banking we cant completely ignore the technology and innovation

Cult

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Quote from: billknight on May 19, 2018, 02:53:41 PM

I do not think this is true. But if banks are afraid of BTC, why do not they accept the BTC and develop it based on electronic money? Banks will lend money electronically and we will send Bitcoin to the bank

Banks are not one solid entity. The ones who are intimidated by crypto are those who are very close to governments and are afraid of losing their power and influence.

billknight

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I do not think this is true. But if banks are afraid of BTC, why do not they accept the BTC and develop it based on electronic money? Banks will lend money electronically and we will send Bitcoin to the bank

joebrook

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Quote from: ?? on ??

It is true that banks may be afraid of bitcoin because they know that bitcoin cryptocurrency has the greatest value of its own price apart from the ongoing bitcoin and still continues.

Their fear is mainly about losing out on revenues just because their customers will not be saving their money at their banks anymore which will cause a serious loss of revenue stream for the banks.

dongyi17

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Whether they accept it or not they realized the difference of investing, saving and using bitcoin rather than bank. they're now aware that more and more people are now becoming interested in btc rather than in bank and so perhaps they are admitting that they've fear btc because what it can do to an economics status of a country, that it has the potential to make them grow or to make sink in failure.

setialovers

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Banks and government afraid on bitcoin because they can not control bitcoin. With decentraziled system, no one authorities can control bitcoin supply or bitcoin price. Its depending on market. Banks afraid because bitcoin or cryptocurrency can disrupting their bussiness.
With lower transaction fee and instant transfer around the world, bitcoin beat banks service

Rollkal

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Quote from: spongegar on May 06, 2018, 10:44:53 PM

Preach! Governments and banks fear crypto currencies because it's money from thin air! Banks fear it because ot means less will be investing on them and more on crypto currencies. Governments fear it because aside from banks controlling them, which they are, crypto currencies have no taxation laws yet aside from income taxes.

This is absolutely correct, they are afraid of the MOF because the MOF has attracted a lot of investors, they abandoned the bank to move to BTC business, and some organizations need capital to raise capital through the ICO program. Not paying attention to banking as before, perhaps in the future the bank will be frozen completely.

Dart315

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Quote from: iconicavs on May 06, 2018, 11:36:24 PM

Quote from: rysheeer on May 06, 2018, 10:07:03 AM

Bitcoin is the real threat to Banks because they can't easily manipulate and control the price movements of bitcoin. They fear decentralization because most of them are corrupt and the root of all scams, they knew the advantages of bitcoin and the benefits of bitcoin to the future.

yes exactly. banks, they could be manipulated by the government and the people in high position but btc, the only people who can control them is the btc holders only as well. in banks, the contributor cannot do anything, only administators.

BTC has open transactions, so I believe we need a more secure and private coin to save ourselves from annoying banks.

iconicavs

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Quote from: rysheeer on May 06, 2018, 10:07:03 AM

Bitcoin is the real threat to Banks because they can't easily manipulate and control the price movements of bitcoin. They fear decentralization because most of them are corrupt and the root of all scams, they knew the advantages of bitcoin and the benefits of bitcoin to the future.

yes exactly. banks, they could be manipulated by the government and the people in high position but btc, the only people who can control them is the btc holders only as well. in banks, the contributor cannot do anything, only administators.

xiwanfd

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There are two main reasons Banks and governments worry about cryptocurrency:

They can't control the cryptocurrency.

2. Cryptocurrencies are safer, cheaper and more private, and once the average person on the street is aware of this, it is less likely to stop the rise of cryptocurrencies.

iconicavs

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Quote from: spongegar on May 06, 2018, 10:44:53 PM

Preach! Governments and banks fear crypto currencies because it's money from thin air! Banks fear it because ot means less will be investing on them and more on crypto currencies. Governments fear it because aside from banks controlling them, which they are, crypto currencies have no taxation laws yet aside from income taxes.

yes sir they are scared of losing clients. their clients would be aware and be wise and might choose bitcoin over them. but personally i think not everyone would do such, there are still people who trusts bank even more.

19Nov16

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Yes of course banks admit with bitcoin, when everyone leaves the bank and chooses to make bitcoin to send money it will make the banks business threatened so they will ask the government to banned bitcoin.

iconicavs

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Quote from: Lionel on February 19, 2018, 02:08:44 PM

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).

Go crypto and HODL my friends.
They fear crypto because it can save us

---
[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

these articles are really helpful and as i was scanning and casually trying to understand what are they saying, i could slowly understand your point. in short banks are afraid that bitcoin might be used for illegal purposes? that's how i can see it. we can't blame banks if they are being extra cautious with this because we are also cautious when it comes to our coins right? i just hope they trust bitcoin more that bitcoin will not harm anyone or be used as an abuse in any form

maculeth

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BountyMarketCap

they are afraid bitcoin users use it for illegal transactions, such as arms purchases, drugs to money laundering.

Topic: Banks admit they fear BTC - page 7. (Read 2110 times)