Topic: Cryptocurrencies Pose Risks to Banks, Warns Basel Committee - page 2. (Read 610 times)
At the same time, the European Central Bank announced the results of its research, in which it acknowledged that the cryptocurrency does not have any serious impact on the global financial system. It is not only about negative influence, but about any influence in general. This only indicates from which side they approach the consideration of this question and that these are rather subjective opinions. Cryptocurrency is still too short to conclude whether it will have a significant impact on the international financial system.
Banks operate in a very similar way than politicians. The first thing they do when they want to achieve a controversial goal is to scare people into thinking that they need the thing that they want to implement. Example : The government want 100% surveillance into people's private live, so they scare them with strategic words like, "terrorism" and "Money laundering" and "hate crimes", before they propose a new Bill or regulation that allows them to infringe on the citizens private finances and their daily activities. 
This is exactly what Banks are doing now, to scare people before they find an excuse to "ban" Crypto currency activities, linked to Banks.
I agree, by exposing the shortcomings, the bank seems to spread the news that is not entirely true. but this is certainly driven by the government which actually plays the most basic roleThis is exactly what Banks are doing now, to scare people before they find an excuse to "ban" Crypto currency activities, linked to Banks.
The most terrible thing is after keeping money with banks for so long, you end up not getting reward from it even after they have used the money for business, whatever profit they get, they ether pack it for government officials who feels they are above the law. Now that we have a blockchain technology that has reward system for keeping my money on it, I see no reason why.
Hell yeah they do, the only reason why the cryptocurrencies were created is to risk banks, the banks have been working together for so long and have no competition that they are basically ruling over countries now. Look at countries like USA where banks and other huge companies pay politicians to do whatever they want and they do it because of the bribes, USA is literally run by corporations at this point.
I can't really think why would we allow that to continue, of course we were going to do something about it and crypto currencies are the first step, becoming bankless would make them get weaker in the end and if we can find ways to decentralized communication and internet we will make sure telecom companies can't do it neither and internet with great global reach makes sure people who we used to go to wars with are there and we can discuss it instead.
We are taking away all the bad stuff thanks to new inventions like crypto and building a much better world.
I can't really think why would we allow that to continue, of course we were going to do something about it and crypto currencies are the first step, becoming bankless would make them get weaker in the end and if we can find ways to decentralized communication and internet we will make sure telecom companies can't do it neither and internet with great global reach makes sure people who we used to go to wars with are there and we can discuss it instead.
We are taking away all the bad stuff thanks to new inventions like crypto and building a much better world.
Banks operate in a very similar way than politicians. The first thing they do when they want to achieve a controversial goal is to scare people into thinking that they need the thing that they want to implement. Example : The government want 100% surveillance into people's private live, so they scare them with strategic words like, "terrorism" and "Money laundering" and "hate crimes", before they propose a new Bill or regulation that allows them to infringe on the citizens private finances and their daily activities.
This is exactly what Banks are doing now, to scare people before they find an excuse to "ban" Crypto currency activities, linked to Banks.
I agree, by exposing the shortcomings, the bank seems to spread the news that is not entirely true. but this is certainly driven by the government which actually plays the most basic role This is exactly what Banks are doing now, to scare people before they find an excuse to "ban" Crypto currency activities, linked to Banks.
Banks operate in a very similar way than politicians. The first thing they do when they want to achieve a controversial goal is to scare people into thinking that they need the thing that they want to implement. Example : The government want 100% surveillance into people's private live, so they scare them with strategic words like, "terrorism" and "Money laundering" and "hate crimes", before they propose a new Bill or regulation that allows them to infringe on the citizens private finances and their daily activities.
This is exactly what Banks are doing now, to scare people before they find an excuse to "ban" Crypto currency activities, linked to Banks.
This is exactly what Banks are doing now, to scare people before they find an excuse to "ban" Crypto currency activities, linked to Banks.
Going out from house is so risky, they should stay at the home too, don’t go to the bank, and using bank is also super risky, can we stop using bank because it is risk? What about thieves? Hackers? Boys girls, computer mining gigs, everything is risk, I think they’re extremist by being super insecure.😂
They care more about the money they get through the money people deposit to their bank and the levies they impose on the owners of the funds, but I don’t see anyway cryptocurrency pose threat to banking industry generally, because crypto is created for payment and since cash will always be involved in order to have access to crypto, bank will always be functioning.
I think its just a ploy to condition the minds of the people to make cryptocurrency as bad as possible since crypto could be a threat to their existence. Although I think one way or the other, banks will start to embrace it in order for them to survive and I think it is starting to happen right now. 
before the bank embraces it, the government usually gives a signal to accept cryptocurrency. after that a law was made to regulate it, so that the bank would embrace it in accordance with the regulations made by the government. of course this is done so that the country's economy has no obstacles, which are concerned with the bad possibilities that occurYou are right! Most countries that are cryptocurrency friendly had some of their local banks already started to explore the possibilities of blockchain technology and did some strategic partnerships with leading industry innovators. This I think would be intrumental for other banks to follow suit since they might be thinking that if they don't adopt it then they will be left behind in the competitive banking industry. Imho.
Going out from house is so risky, they should stay at the home too, don’t go to the bank, and using bank is also super risky, can we stop using bank because it is risk? What about thieves? Hackers? Boys girls, computer mining gigs, everything is risk, I think they’re extremist by being super insecure.😂
I think its just a ploy to condition the minds of the people to make cryptocurrency as bad as possible since crypto could be a threat to their existence. Although I think one way or the other, banks will start to embrace it in order for them to survive and I think it is starting to happen right now.
before the bank embraces it, the government usually gives a signal to accept cryptocurrency. after that a law was made to regulate it, so that the bank would embrace it in accordance with the regulations made by the government. of course this is done so that the country's economy has no obstacles, which are concerned with the bad possibilities that occur slowly banks became interested in blockchain technology. In the coming days, many banks will form their own money.. they wi ll enter the market and try to dominate. therefore we should support decentralized coins such as bitcoin...
They are scared, not interested.
As far as I know, I read about banks studying the possibility of Blockchain technology to them. But the fact that they are bothered means that they are scared of what might happen and that might be the reason why they are scared and want to use the technology of Bitcoin to improve and develop their services. Banks will not form their own money, the government might and I think it will still be the fiat that we know but in a better form.
I think its just a ploy to condition the minds of the people to make cryptocurrency as bad as possible since crypto could be a threat to their existence. Although I think one way or the other, banks will start to embrace it in order for them to survive and I think it is starting to happen right now.
In my opinion they don't like crypto because they not make so much money now as on old times from people who take loan from banks and pay a lot, but crypto not pose any risk to banks.
These risks do not pose a direct threat to the existing banking system. Previously, research has been conducted on this issue and it has been directly stated that it does not pose a threat to cryptocurrency for banks. The laundering of dirty money and the fight against the financing of terrorism is a common problem of the global financial system, not just cryptocurrency. These risks existed before the advent of cryptocurrency.
Banks do not have to get scared about potential of bitcoin in our world and what it can do to them, banks need to be excited about the potential of bitcoin and blockchain technology and how it could improve them and make them better.
I know there are tons of banks who deal in the shady business world and bitcoin is definitely going to ruin that for sure but any bank that is doing business in a legit way should see bitcoin and blockchain as an improvement to the old system and instead of being afraid of it should adopt it.
If the world is moving towards a new and better system and if you are trying to keep people away from it than all you can do is slow it down, you can't stop it, you can pay politicians billions and make bitcoin illegal all around the world and yet people will still find ways to use it so instead of trying to stop it I would suggest supporting it so you can get behind the economic evolution.
And no one is scared. As a result of some research or analysis someone just stated a fact that if BTC will be globally used then current banking system will suffer because it is not adopted to such changes. Unfortunately, some retards interpret it as a strong fear but the truth is that Bitcoin won't grow that much to cause any significant harm to current banking system. Even if it will then it should probably take much time and banks will use it to adopt crypto into their businesses and get their revenues. I know there are tons of banks who deal in the shady business world and bitcoin is definitely going to ruin that for sure but any bank that is doing business in a legit way should see bitcoin and blockchain as an improvement to the old system and instead of being afraid of it should adopt it.
If the world is moving towards a new and better system and if you are trying to keep people away from it than all you can do is slow it down, you can't stop it, you can pay politicians billions and make bitcoin illegal all around the world and yet people will still find ways to use it so instead of trying to stop it I would suggest supporting it so you can get behind the economic evolution.
But tbh I can hardly believe it will happen.
I don't think crypto will kill banking, more like banking would adopt blockchain to remain competitive. I do think they are somewhat worried. Every dollar stored in a crypto wallet is money the banks can't get their hands on (until it's sent to an exchange to cash-out of course).
slowly banks became interested in blockchain technology. In the coming days, many banks will form their own money.. they wi ll enter the market and try to dominate. therefore we should support decentralized coins such as bitcoin...
Fiat cash is the primary tool used in money laundering and crime. Bitcoin is traceable, its the last thing a criminal would want to use.
I am not surprised at all looking at the committee who made this statement. Banking business is seeing this one as a direct threat to their business and hence they are making every effort to uproot the crypto business by refusing banking services to the crypto related companies! This thing is on going in India and Canada since last one year and JPM also joined this list last month. Such kind of efforts of banks always remind me a great quote from our national hero "Mahatma Gandhi" who is internationally esteemed for his doctrine of non-violent protest,
"First they ignore you,
then they laugh at you,
then they fight you,
Then you win!"
And we are at the third stage now where banks are taking the fight to the next level!
"First they ignore you,
then they laugh at you,
then they fight you,
Then you win!"
And we are at the third stage now where banks are taking the fight to the next level!
just like when engine was invented and horse and carriage went out of business and became obsolete, banks will eventually become obsolete as bitcoin and in general decentralized money becomes popular.
that is how the world has always worked from the beginning of the world, you can't fight it.
the only way banks can survive this transition longer is if they adapt with decentralized world. start offering services to bitcoiners and things like that.
that is how the world has always worked from the beginning of the world, you can't fight it.
the only way banks can survive this transition longer is if they adapt with decentralized world. start offering services to bitcoiners and things like that.
This is something that would happen in ideal world. But in real world banks will survive and cryptocurrencies will not replace fiat money. Yes, banks would have to adjust and they will with time, they will probably also start to offer their crypto related services to clients. But at the moment without regulation and legal framework cryptocurrencies can't be so easily embeded in financial system without huge risk that should be accepted. Everyone who knows something about finances is aware of this.
As if banks are the guardians of global financial stability. Remember they caused the 2008 crash and every single one of those before that.
People are discovering they have alternative ways of keeping their money and making profits. Banks better step up their game and provide actual benefits to their customers and not hold their money hostage.
People are discovering they have alternative ways of keeping their money and making profits. Banks better step up their game and provide actual benefits to their customers and not hold their money hostage.
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