Banks against the crypto - page 4. | Bitcointalksearch.org

Best Dreams

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Quote from: Kwansimaa on April 26, 2019, 10:38:23 AM

Nobody really knows the future of the financial industry but the world is developing at a faster rate and many people are starting to appreciate the use of crypto currencies in their transaction.
However the banking is sector still holds majority of transaction of the world but in future cryptocurrencies may take over.

For me even now crypto currency has taken the place of banks because now use of banks is almost reduced and people are using to invest higher, we only need to see how much banks are interested in accepting blockchain technology, because blockchain is the other best feature of crypto currency, but banks are losing value now.

geegaw

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Quote from: bison on April 26, 2019, 09:45:52 PM

Quote from: Commitments on April 26, 2019, 09:04:39 PM

Bank try for stopping how bitcoin and altcoin is drop and make investor keep hold their money in bank and keep away for holding in bitcoin or altcoin as their asset, we know why bank against for bitcoin and altcoin e currency.

I think the bank is only afraid when its customers leave the bank and choose to save money or assets in the form of cryptocurrency or digital currency so that when that happens the bank will go bankrupt and no one will use the bank to transact or save money.

The story you are imagining is really interesting but I do not believe that the bank is afraid of the appearance and development of crypto because the purpose of users for crypto is to invest and develop their assets, while the purpose of everyone for the bank is to store. Although crypto can still be a place to store but safety is too low, so there is no reason for banks to be scared when crypto and them are two different areas and have different advantages, Bank against crypto is just a rumor from many different sources of information, the fact that the bank does not have a strong or official action

Vishnu.Reang

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Quote from: iam_aayushiJ on April 26, 2019, 02:24:42 AM

I live in India, and the state of cryptocurrency is really very poor here. Many prominent crypto exchanges like ZEBPAY has shut down here a year back, the reserve bank of India has made it very difficult for the buyers and sellers like me to trade in cryptos.

Here is an article from today morning which I was reading about cryptos - https://economictimes.indiatimes.com/news/economy/policy/government-department-discuss-draft-bill-to-ban-cryptocurrencies/articleshow/69048480.cms

I think even if some countries are in favour of it and are growing the economy fast, in India and many such countries the state of crypto is really bad and banks governments and the whole economic system is against cryptos. the road ahead is very tough man.

I am also an Indian citizen and I saw this coming long back. Indians have a tendency to misuse technological innovations. Bitcoin was heavily used during the demonetization (in 2016) to store black money. Also, there are reports of urban users purchasing contraband from the dark market websites, after making payments with Bitcoin. But the Indian government is too stupid to understand that it is not technically possible to ban crypto. It is not like banning a certain website or suspending the bank account of someone.

popolite11

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Quote from: cramcram21 on April 26, 2019, 01:40:10 PM

We don't know what will happens in the future.
banks may be closed down because of Bitcoin or they can be combined. Have you watch the movie Crypto? It is very interesting and you will also think about this topic.

dentolas

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As much as I hate banks, they are already adjusting... so it seems they are not going away, at least easily...
there are a lot of news about banks starting to develop blockchain applications and in some cases, testing crypto use... I think this will be a matter of time, at the moment they are betting on FUD and accumulation, and then the next step will be adoption, but I think it will be a kind of adoption in which they dictate the rules...
The system can easily fight back, for example, creating national cryptos controlled by governments...
and people will use what they are told to use
so we walk on a fine line, and all these people comming into crypto looking after quick cash and doing nothing, they all should be worried in building something solid and don't allow crypto space to turn into the same shitty system we have on the outside

rijaljun

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I think bank is way impossible to be disappear but it's possible to replace the current centralized system with the decentralized ones. In the new system (decentralized) banker will be less able to do frauds to their cutomers as everything can be tracked. However, high volatility of cryptocurrencies is one of the several problems regarding this.

rachellee

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

If banks do not want to be left out, they have to adjust to crypto thing, whether they like it or else. They need to find a way to embrace it, so as not to be out of the picture. The call for decentralization in the financial sphere is so loud, and crypto is the answer, and this fact poses much threats to the banking system. Definitely, when this happens, they lose power of our resources, and we all know that that's where they earn.

bison

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Quote from: Commitments on April 26, 2019, 09:04:39 PM

Bank try for stopping how bitcoin and altcoin is drop and make investor keep hold their money in bank and keep away for holding in bitcoin or altcoin as their asset, we know why bank against for bitcoin and altcoin e currency.

I think the bank is only afraid when its customers leave the bank and choose to save money or assets in the form of cryptocurrency or digital currency so that when that happens the bank will go bankrupt and no one will use the bank to transact or save money.

Commitments

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Bank try for stopping how bitcoin and altcoin is drop and make investor keep hold their money in bank and keep away for holding in bitcoin or altcoin as their asset, we know why bank against for bitcoin and altcoin e currency.

Abiky

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Quote from: Kwansimaa on April 26, 2019, 10:38:23 AM

Nobody really knows the future of the financial industry but the world is developing at a faster rate and many people are starting to appreciate the use of crypto currencies in their transaction.
However the banking is sector still holds majority of transaction of the world but in future cryptocurrencies may take over.

It's no secret that we're becoming interconnected each day. Technology gives us the power to control the future direction of our lives in many ways possible. Knowing that for the first time in history people is able to take back control of their money, is one step ahead towards sovereignty. This all came into reality after Bitcoin's inception back in 2009. Now that Banks know how powerful Blockchain and crypto are, they've devised ways to distract the public from using crypto at all.

On the other hand, some governments have followed suit trying to prevent the growth of cryptocurrencies and Blockchain in general. But, I believe that it's too late now, since Bitcoin and other cryptocurrencies have grown to astronomical levels in terms of user adoption and price. Now Banks and governments worldwide have been working together in order to grasp Blockchain technology for their own benefit. With recent Ripple partnerships, IBM's newly developed World Wire payments network, and the emergence of stablecoins, Banks will become highly dominant in the financial industry (as it has always been).

Nonetheless, Banks and cryptocurrencies will experience discord among them for a very long time. Just my opinion

cramcram21

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We don't know what will happens in the future.
banks may be closed down because of Bitcoin or they can be combined. Have you watch the movie Crypto? It is very interesting and you will also think about this topic.

Kwansimaa

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Nobody really knows the future of the financial industry but the world is developing at a faster rate and many people are starting to appreciate the use of crypto currencies in their transaction.
However the banking is sector still holds majority of transaction of the world but in future cryptocurrencies may take over.

iam_aayushiJ

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I live in India, and the state of cryptocurrency is really very poor here. Many prominent crypto exchanges like ZEBPAY has shut down here a year back, the reserve bank of India has made it very difficult for the buyers and sellers like me to trade in cryptos.

Here is an article from today morning which I was reading about cryptos - https://economictimes.indiatimes.com/news/economy/policy/government-department-discuss-draft-bill-to-ban-cryptocurrencies/articleshow/69048480.cms

I think even if some countries are in favour of it and are growing the economy fast, in India and many such countries the state of crypto is really bad and banks governments and the whole economic system is against cryptos. the road ahead is very tough man.

Botnake

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Quote from: ShooterXD on April 22, 2019, 11:24:04 AM

Here in Brazil, most of the Banks just closed exchange Accounts, and sometimes close cliente accounts Who sended money to exchange accounts.
The saddly part is the justice given The cause to the Banks. Nothing more to wait for the corruption paradise

Do you have source on this, I would like to read the full details on why banks are doing this.
In my country, crypto is not illegal and I can easily transact from my exchange directly to my bank account, so I can say I'm lucky to have a crypto friendly government.

Abiky

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Quote from: Babylon on April 20, 2019, 01:47:28 AM

They are against the cryptocurrency because they know that the people are now losing interest in banks because they are not satisfy anymore to the interest and also to the offers of the banks while the cryptocurrencies are offering a higher interest for their money in terms of profit making by just investing in a decentralized cryptocurrency like bitcoin.

Yes. People are seeking for ways to avoid banks, due to their high fees and low interest rates. Not to mention, Banks are centralized financial institutions which are backed by the government, making them fully compliant with regulations. This means, that Banks can freeze an individual's account or do whatever they desire with it. With decentralized cryptocurrencies such as Bitcoin and Ethereum, this is no longer possible as the system is free and open to anyone around the world without a central authority.

That's why, Banks have been against crypto from their very beginnings. Despite this, Banks seem more inclined to using Blockchain technology for their own benefit, rather than adopting an already-established cryptocurrency like Bitcoin or Ethereum. But if crypto continues to exist, you'll see that Banks will be opposed to their development.

Nonetheless, it's hoped that as crypto becomes more regulated and governments take a friendly stance towards them, Banks would part their separate ways by relying on a private Blockchain network built by themselves. It could be either Ripple, IBM's World Wire Network, or another Blockchain payments framework. Just my thoughts Grin

ShooterXD

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Here in Brazil, most of the Banks just closed exchange Accounts, and sometimes close cliente accounts Who sended money to exchange accounts.
The saddly part is the justice given The cause to the Banks. Nothing more to wait for the corruption paradise

markstivn98

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Many powerful countries will not allow their banks to fall, I think it is the banks that will eventually win, or maybe decentralized with weaker hope. But the best thing is to develop together and support each other.

salmanahmedone

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Quote from: Aldrinx00 on April 20, 2019, 11:32:31 PM

I don't think banks will disappear because of cryptocurrency because many are used to it their savings are on banks and some didn't even know about digital money. I think banks and crypto will coexist and it's better because people will have many options they can choose a centralized one which is bank and the decentralized one which is cryptocurrency.

The only condition of the banks to disappear is that when people will stop using Fiat and will only use crypto currencies. When people do not deposit money in the bank , the bank will have no source of income and they will have to be automatically closed.

maianh09

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Quote from: Theentre on March 11, 2019, 12:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks worry about Bitcoin traffic because they cannot control them. If you deposit at 1 Bitcoin bank with a value of $ 5000 and the bank uses it for other investment loans. But in a short time, the price of Bitcoin increased, making banks suffer losses and easily went bankrupt. Therefore banks do not accept it and try to remove it.

Oasisman

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Quote from: Thanasis on April 22, 2019, 03:08:27 AM

Quote from: ?? on ??

I think in the future , Banks will not against the cryptocurrency.
But , Banks will adopt the blockchain technology to develop the system to be better.

Even if banks adopts to blockchain technology they will go against decentralized cryptos so banks will never accepts cryptos into their system.Whereas of banks using their own blockchain then it might not create much difference from their current traditional transaction system.

Correct!
Banks will most probably create their own blockchain if majority of them decided to start accepting cryptocurrency transactions. They arent a fan of a decentralized system btw and they wont going to adjust to any of the blockchain and crypto ideas that would go against their own idea of monetary and banking transactions.

Topic: Banks against the crypto - page 4. (Read 11994 times)