Banks will always be against cryptocurrencies? - page 18.

Shimmiry

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Quote from: Gabb on September 16, 2018, 05:46:52 PM

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.

This is true. Banks really are an organization who seeks for profit. With this they might as well adopt the technology's new face so that they can go with the flow. It implies that there are really more and more people who are interested in bitcoin and so as an institution like bank. Bitcoin will be the new face of currency.

djkyno

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I think at least in the near future, most banks around the world will continue their fighting against cryptocurrencies, and refuse to support them. Banks are allied with governments and businessmen and both want to support the fiat and local currencies instead of cryptocurrencies.

rudox

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Initially banks and their owners were fighting bitcoins seriously. It is after they come to understand that there is nothing they can do to stop bitcoin. That is why now the banks are seriously looking at blockchain and the possibility of incorporating blockchain in their system. They have come to understand that blockchain remains the future of the financial transactions. Bitcoin has come to stay.

erifubirugen

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I think yes they are against! But also they are searching ways to live together with cryptocurrency market i am sure. When you understand the cryptos you understand that the system would not come in good ways to banks it is for sure. But the banks know that the cryptocurrency will not die, and they need to find a solution..

jademaxsuy

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Maybe some because the transaction to be made from a certain individual to another individual will be bypass using bitcoin and literally they could not earn on it. These are the scenarios that banks will definitely go against cryptocurrency because of this. Well only some because other banking institution had made some adjustments and others are also eyeing and ready for the possible things to happen.

Infinixhot1996

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I do not feel there will be a time banks will accept cryptocurrency,it will always be looked upon with indifference as its opposed to the conventional system where only banks control fiat,but this decentralized system in which they have absolutely no control over in their opinion is a threat to their existence,that is the reason governments are really trying to bring regulations into the system.

Andrey13101991

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Banks feel a threat from the crypto currency, and they are trying in every way to remove them from their path. The growth of the Crypto currency exceeded all expectations, and yet the phenomenon is still very young and the growth potential of them is huge. Crypto-currencies can shake or even eliminate the aging financial system.

richman3451

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Soon all the banks will switch to digital money to me so it seems now, many banks are nervous that with the advent of the critic they stopped controlling people's money

joelou

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Banks will always be against crypto currency? Well in my opinion I think bank will never against the crypto currency. I think it can help each others in the future.

rosemary4u

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Quote from: BitcoinGuruOne on September 19, 2018, 05:11:40 AM

The trusth is that Banks do not need cryptos, they are just fine by making money with curent system.
Cryptos as alternative payment system is taking away bussines from them , they do not need it.

The motive of almost every business venture is to maximize profit and this does not apply only to the banking sector. At the moment most banks are not really abreast with the current state of blockchain technology in many parts of the world. I believe with increasing education on blockchain technology and the stability of the world of crypto, many banks would appreciate the world of crypto.

jameskarl

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bank is not against in crypto currency. actually on my country now bank is adopting crypto currency. we can cash in and cash out from local wallet direct on bank and cash in also vice versa.

muchachita14

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A fiat money system where central banks can and do literally print money at will has its weaknesses. That’s why hard assets like gold are so popular among smart investors: as real stores of value, they provide a safety net against currency depreciation.

However, it’s doubtful that the same applies to cryptocurrencies. Despite what the crypto-evangelists will tell you, digital tokens will never and can never replace gold as your financial hedge.

kokobaba880

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Banks are using currencies like fiat and for that they have physically things while the value is controlling by central department in every country or central banks so they are sure about currencies and they are using then the digital money for physical money but not in the case of crypto so banks are against of crypto but it's importance for the traders can not be ignored still bitcoin have a good market value.

Salauusman

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Yes.. There is know how banks will not embrace cryptocurrency, because once people eyes are opening to cryptocurrency that means cryptocurrency space will be expanding and if banks still didn't embrace it then they will be force to accept it not by fight or power, but with people interest.... People are the power for everything.

thesmallgod

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when we talk about bank against cryptocurrency, it might not be in using the underlying technology behind cryptocurrency which is blockchain technology. In fact there has been speculation that by year 2025, many bank will up in for using blockchain technology but accepting cryptocurrency in exchange for local currency is what i do not see coming from banks. banks are being regulated by the government and ones the government is against or baning crypto then there is no way banks will not be also against it.

lee cooper

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Government policy does have an impact on banks, but I think that if the government legalizes crypto, the bank will also accept crypto so that the government's aim to strengthen fiat in the economy will be realized, namely import exports that occur in global markets.

thesmallgod

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Quote from: kotajikikox on September 16, 2018, 05:52:45 PM

Correct i agree with you mate banks will not all is against cryptocurrencies, some other banks accept bitcoin to convert into fiat, people making issue to banks betwwen cryptocurrency to make an understanding partnership to blame the people.

maybe you can tell us any of the traditional bank you know that accept cryptocurrency in exchange for fiat. I am sure your are not going to tell me about the cryptobank because they are not traditional bank and by the way we have seen many ICO past and present that intend to work on cryptobank but up till today non of them is fully functional. they have many drawback that they are still fighting. I can remember Bankera that seems to be a solid project with great concept but ever since the ICO, little or no information have been heard from the dev.

fuer44

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it could be, especially if crypto does not immediately get clear regulations from the government. because as crypto growth and increased use of crypto can affect the bank's performance. especially when making transactions abroad, if you use crypto it will have no effect because the crypto value is the same all over the world. while a country that imports / exports aims to improve the economy and increase the exchange rate of their money so that the currency becomes stronger and the bank is also getting stronger.

traderethereum

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I think the banks will not against cryptocurrency and I hope that there are more banks that will accept cryptocurrency and perhaps, they can work together with the cryptocurrency. I think in the future, the banks will integrate with the blockchain technology once they found that the blockchain technology can help them to solve their problem. maybe they need to study first before they can build the infrastructure that can integrate with the blockchain technology so it will be a good news for the crypto user to see the banks can walk with the blockchain technology.

SventraPapere

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It's just inevitable.As people and banks when it moved from coins to bills,and then cards and online banking.The next step should be in the blockchain.It can't be any other way.Too much information and new technologies.And every day the number of users increases.Even already made a lot of new coins specifically for interaction with banks.It's started.

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