Large US banks, including Bank of America Corp, are very afraid of Bitcoin (Bitcoin). The growing popularity of crypto-currencies poses a threat to financial institutions.
The spread of digital money is undesirable for banks, given their current problems, which they have faced recently. Speech, first of all, is about low demand for loans, lower profits due to lower interest rates and fading hopes for deregulation.
The negative attitude of banks to the crypto currency is gradually beginning to manifest itself in the open. Suffice it to recall the harsh criticism of Bitcoin by JPMorgan Chase CEO Jamie Dimon.
What is the threat from Bitcoin?
The idea that Bitcoin could threaten traditional banking institutions, sounded in an interview with the American television channel CNBC executive director of the investment organization Taurus Wealth Advisors Rainer Michael Preuss.
He believes that crypto-currencies such as Bitcoin have a certain appeal, given the lack of transparency in the banking system. As an example, he cited the Federal Reserve's refusal to host an independent audit.
In contrast, blockchain technology registers each transaction and gives users a complete overview of all the movements of funds on the network. Moreover, he is sure that digital coins are able to offer a so-called "system hedge" against inflation of asset prices and to deprive banks of some functions.
Topic: Banks will always be against cryptocurrencies? - page 16. (Read 2908 times)
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
I beg to disagreed on you statement pal, because here in my country we have one bank here who are accepting digital currency/bitcoin in a way of online transaction. when I heard and read it in the newspaper here I was so happy. Meaning, time will come that banks in the entire world will also adapt the system of crypto currency, and lets wait on to that matter anyway.
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Yes, banks are really not against cryptocurrencies, Banks have their own strategy to get profited and gain income, cryptocurrencies are just added to our currencies out there and they can also use cryptocurrencies to gain additional profit. Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Banks will always be against cryptocurrencies because they want their monopoly control in the market. Bitcoin is of great potential and people are adopting crypto over banks. So banks are insecured as they will no longer be able to be the head of the marking league.
Banks may resist cryptocurrency, but eventually they will realize that it will only make the functioning of the banking system more convenient. And most importantly, bitcoin will significantly increase security, which can not but rejoice.
I don't see the Bank and bitcoin as rivals. If the state does accept cryptocurrency, bitcoin will be a great addition to the banking system and will greatly simplify and protect it.
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Banks are still waiting for the government's response to cryptocurrencies. Because the Bank is actually very happy if banks can utilize blockchain technology and also use of coins. This is like a regulation that has never been made, so the importance of a regulation is to guard and guarantee that some parties want to utilize cryptocurrencies in full. We must continue to put pressure on the government to immediately implement cryptocurrencies in the financial system. Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
What happens when you slip into your overdraft on one account but are in credit on another? Do they aggregate? No. Despite you not being in debt to the bank but one ledger being in overdraft, you get a whopping overdraft fee.
So what do we need banks for? Mortgage? Nope, we can go to any mortgage provider for that? Loans? Nope, we can go to any loan provider for that. We can buy any financial service we want from any provider.
We need banks to hold out fiat and for buying things, and this is the threat:
If we keep our savings in Crypto, then the banks have a smaller pool of money to lend from
If we buy things using Crypto, the banks are making less money on debit fees
Every financial service we use Crypto for, we are taking a service away from the banks. And beyond fancy new mobile-only banks and biscuits for your dogs at Metro, nothing in banking has been disrupted. Until now.
But can Crypto take on the role of the bank? Yes, and here is why using Bitcoin as the primary example.
So what do we need banks for? Mortgage? Nope, we can go to any mortgage provider for that? Loans? Nope, we can go to any loan provider for that. We can buy any financial service we want from any provider.
We need banks to hold out fiat and for buying things, and this is the threat:
If we keep our savings in Crypto, then the banks have a smaller pool of money to lend from
If we buy things using Crypto, the banks are making less money on debit fees
Every financial service we use Crypto for, we are taking a service away from the banks. And beyond fancy new mobile-only banks and biscuits for your dogs at Metro, nothing in banking has been disrupted. Until now.
But can Crypto take on the role of the bank? Yes, and here is why using Bitcoin as the primary example.
I think it all depends on the country. If the government accepts bitcoin and will develop it, the banks will have nothing left but to adjust to the innovations.
The bank will accept cryptocurrency in future
This is the control of people...the bank knows the data of a person
This is the control of people...the bank knows the data of a person
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Yes bank for against cryptocurrencies because banks don't want to take any type of risk. but in future if Bitcoin is becoming the mainstream then we need Crypto banks also and they will not be against cryptocurrencies so don't worry about that infact these banks will upgrade to prepare banks only.
banks can neither barrow nor lend crypto currencies because crypto currencies is not regulated like the Banks is regulated by Central Bank
I think that banks are not always against cryptocurrency. Already many banks want to provide services related cryptocurrency custody. I think they do not want to lose customers and will try to adapt to something that is gaining popularity
It is true. I think, at first, somes banks was worried and afraid to existentcy of Cryptocurrency because many people start to investing in bitcoin and other cryptocurrency. Bank management think that their costumers will decrease. that meke money in banks will decrease.
Several banks and government start to attack and throw negative issues against cryptocurrency. but its doesn't any big impact to the cryptocurrency. its make bitcoin and another crypto currency popular across the world. Now, the bank realizes that crypto cannot be countered. That make starts providing services related cryptocurrency custody. bank doesn't want lose their customers.
I hope, cryptocurrency will stay alive and have brigth future.
I think their reluctance is temporary, because such operations are very profitable due to the large volume of those who want to buy
I think that banks are not always against cryptocurrency. Already many banks want to provide services related cryptocurrency custody. I think they do not want to lose customers and will try to adapt to something that is gaining popularity
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Yes, I agree with you, the bank will look for the best way to make a profit. I am sure that in the next few years the bank will accept cryptocurrency to conduct financial transactions. I hope the bank will soon work with the cryptocurrency so that all my financial transactions run smoothly.
The bank will ban bitcoin if the government prohibits it.
But if the government permits the bank also gives bitcoin to transact, making fiat.
Many bank customers will use crypto for their business.
But if the government permits the bank also gives bitcoin to transact, making fiat.
Many bank customers will use crypto for their business.
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
I believe that banks will also accept the crypto currency in the future. Because if they do not do it, then no one will have the interest to invest in the bank and this will be the beginning of the collapse and weakening of the bank's demand.Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
So it is sure that this will happen.
No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
That won't be a situation that easily. Banks really need to redevelop a lot in order to start accepting cryptocurrencies. They need to change their circulation and that won't go that easy. Also banks(mentioning FIAT currencies here) will hardly turn over to decentralised currency. Centralised currency has always standed in opposition to decentralised currencies.Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
Also as soon as banks start accepting cryptos they would finally go through the stage of legalisation. Also the circulation and volume too will reach moon as this goes through. Lets hope for the best and think positively. The goverenment may perhaps take some serious step to take cryptocurrencies into circulation. I am personally waiting for such news.
I agree with you, but in the future, every bank has 2 choices.
1. move their capital to the world of virtual currencies
2. choose their own way in a primitive way with limited and boring services.
I think, security will also be vulnerable and easily hacked, but bitcoin and the world of digital currencies have technology that can withstand hacking.
1. move their capital to the world of virtual currencies
2. choose their own way in a primitive way with limited and boring services.
I think, security will also be vulnerable and easily hacked, but bitcoin and the world of digital currencies have technology that can withstand hacking.
But sometimes hackers can easily hack digital currencies technology compared to banks system technology. For now I cannot tell wether bank is really against cryptocurrencies.
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