Topic: Banks against the crypto - page 15. (Read 12007 times)

Why we should give our bitcoin to the bank we have our own wallet that can able to make a transaction in blockchain which is better than the bank. Bank against crypto because they think it is having fraudulent and it is not taxable to the government and they can't earn even a single dollar on it. But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

We have no reason to give our bitcoins for the banks to keep,if we are doing that means there is no means for decentralization here.

Everything will change,so people also may get changed in the future if we want to be their banks rather than trusting a third party and giving them opportunity to make money for themselves.

Actually they are adjusting and experimenting. Here in the Philippines they are have launch a two way crypto atm. Read the article so that your opinion will change about banks adjusting to crypto currency.


We all know that banks are more powerful that crypto currencies. Depending on which country you are living, Government and Bank Associations did put some sanction on crypto currencies such as Bitcoin.

Now in this time, it is impossible thing that bank adjust with crypto currency and also sometime banks feel disappearance but banks are more powerful than crypto, because banks and governments are in same place then whenever they announce to ban the crypto in their country. So it is difficult to say in this topic, but may be in future we will see something good or bad about it.

Crypto can't make the bank disappear, and government won't allowed crypto to replace bank, bank is a vital component to the country, it can balance the inflation and maintain the economic situation, if in the future the country want to adopt crypto then, bank need to adjust the system to the crypto, and I think bank should collaborate with crypto to create a better economic system

The bankers use politicians to get what they want done. While we are busy theoretically debating if crypto will crush banks, they have boots on the ground carrying out their plan. Check this out.

https://news.bitcoin.com/texas-representative-wants-to-ban-the-anonymous-use-of-cryptocurrency/

As one of the users commented:
"This is not limited to just anonymous cryptocurrencies like Zcash. The way it is written even Bitcoin and Ethereum would be affected. I bet the bill was written by the the Banks and they just gave it to Stephenson to push it. Texas is probably just the testing ground, before something like this is pushed at the federal level. Once this is established in one country, it will be easy for other countries to copy. This bill makes it very clear how the banks plan to attack cryptocurrencies. Everyone in the world who supports cryptocurrencies, must act now to stop this bill.
You may think that these politicians don't know what they are doing and they won't be able to stop anyone determined to use cryptocurrencies since there is no way to enforce it. That's very true, but the problem is that the 90%+ of the people who have not adopted cryptocurrencies yet never will because of this bill. Those who are using crypto will now always remain a minority and over time be looked at more and more suspiciously causing them to leave. Eventually decentralized payment networks created by the people will die out as people leave. This is the beginning of the end for cryptocurrencies, if we just sit back and let this bill pass."

Once a domesticated Carnivorous animal has tasted blood, it will yearn for more. Bankers are just another class of economic cartels, they have tasted the good life, they will forever fight to keep it running. They are certainly going to adjust in order not to be obsolete. One of their leading members JP Morgan has finally agreed that Crypto is the way to go and his initial strong opposition. The rest are secretly watching.

Cryptocurrency different than banks. Banks already become backbone of our currency economy system and i think bank will survive despite crypto mass adoption happen. Government need banks to boost economic growth and as lending resort, government need banks system

This is how banks were able to beat gold and put their fiat in its place, people were unable to secure their gold and then banks offered to keep their coins safe for them and then they began to use fractional reserve banking to increase their profits, if we really want things to change we need to take responsibility of our coins and store them safely ourselves especially since hardware wallets are so cheap, but I do not have high hopes this will happen and so banks will try fractional reserve banking with bitcoin once people give up control of their bitcoins to them.

I think aside the fear of cryptocurrency exposing their flaws and reducing their profit,I don’t see bank ever working with cryptocurrency, I still want to believe some of this banks do not have the proper understanding of cryptocurrency.

Most times they try to liken it to Ponzi scheme because of the returns investors get on their investment which they the bank out of greediness cannot give to their customers; Secondly they see cryptocurrency as a threat. They know that cryptocurrency meets the expectations of everyone and this includes  individuals and organizations so they are afraid this can make cryptocurrency replace them

Here is my own opinion about why the banks afraid of crypto. First thing is about the financial system, crypto can save your fiat without depositing on the bank and second is the banking system. If everyone would invest and save their fiat to cryptocurrency banks is nothing and no one who use banks. Indeed, they are afraid that soon cryptocurrency will their biggest competitor when it comes financial and banking system.

For a bank to fight crypto, it must be because from the first to the time what banned the crypto was a bank, the problem was that many governments were willing to accept crypto currency well, but the banks often banned it.

Exactly! People need to step up and live in reality.  The bank can't go away. To say that the bank will disappear this means or saying that Fiat will disappear also and it's impossible! 
Just like we have exchanges where we sometimes store cryptos (not advisable though)  and trade cryptos, we have the bank.  They can only hope that the two works in hand.

Bitcoin's development is progressively putting pressure on the banking system which is completely destructive sign for the banking system since it would tough for crypto to become mainstream. I am not sure, but I have strong feeling that this will lead awful picture on both. For me its look great if crypto and bank collaborate and shine their power!

Cryptocurrency can have partnership with banks, i never think that banks will disappear in the future, I just think possible partnerships might happen, and when this time come this will be great for everyone

maybe the bank will fight crypto the country that is still banning crypto currencies and has not legalized the crypto currency as a possible currency in the future, the bank will adopt an economic system that will keep up with the times and technology

right, I don't think it's as extreme as that. of course the government will look for the right policies so that both can operate and support each other, because banks are supporters of the economy of a country

I don't know what would happen if this world is without bank.

I know crypto is decentralized, we can do banking without a bank, but it seems not possible for most of us.

What we want is a massive adoption for crypto to become mainstream, but the current world set up would not allow crypto
to operate without regulation, so just like banks we will also be regulated and we will see banks and crypto partners to make this payment system more convenient.

Yes.Crypto is not really made to get rid of banks.Even if cryptocurrency will be legalized in different countries,i think banks will still remain.Even at the present there are already banks who have integrated fiat with crypto.It just means that banks will be able to adjust to the fast changing technology and for that,they will still continue to serve the people.

Yeah, exactly! banks will not die even in the future they are smart enough to find solution against cryptocurrencies. I mean by creating their own tokens to avoid this problem in the future. I don't know the effect of bitcoin and other decentralized crypto currencies in the future against banks, but I'm sure that they will not affect so much.