This should be a challenge to the banks some banks are adopting it and taking their advantages like what Union Bank did, I think more banks will follow hem soon ,crypto is a new innovation that soon everyone will acquire.
Topic: Do Banks fear cryptocurrency - page 12. (Read 17113 times)
Yes they do because they know that people will not trust the bank and will invest all their money in bitcoins so they dont make any profit anymore and that is why the banks actually fear bitcoin because it is free and it is our own and not the banks money.
But the problem is that people need to use banks to withdraw money in fiat. You can't spend cryptocurrency in real life, so you need to use bank services.
are properly afraid. banks initially know that they will lose this game, because the electronic currency does not need BKK security. banks lose money on very many services, but the Crypto currency will only be stronger
Well bitcoins are a dangerous type of investment, especially if you do not understand how they work. You always fear what you don't understand.
But banks fear bitcoins regardless, whether they do or do not understand it. And believe me many banks understand it real well, and that is especially why they fear it. Because they understand that bitcoin might decentralise wealth, whilst the purpose of banks is to centralise wealth... in the bank.
But banks fear bitcoins regardless, whether they do or do not understand it. And believe me many banks understand it real well, and that is especially why they fear it. Because they understand that bitcoin might decentralise wealth, whilst the purpose of banks is to centralise wealth... in the bank.
The truth is banks have seen the prospect of bitcoin, they know more persons want to invest in it instead of keeping their money in the bank. They are simply afraid of bitcoin and the possible way it will make people forget fiat currency
Bank fears bitcoin yes, because more people are switching from banks to bitcoin. Its a threat to their saving and lending since they make money circulate through that.Cryptocurrencies were the financial support system of the future, because for the growing community advancement is a must. The recent cause of downfall too is also an impact of the fear from the banking community.
I will try to explain what I know about cryptocurrency can not be held by the bank, Because banks do not want to take risks in making decisions in cooperation with digital currency because no one can be in handheld in the event of a currency crisis there is no asset that must maintained and no exact tax calculations to charge.
definetly they fear crypto. and they are critically studying about it
Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!
They called on people not to get involved. Should we be afraid or the banks are!
If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.
Banks are not afraid of cryptocurrencies, because Bitcoin and other currency crypts are competing against them. So banks should support them, But here in the Philippines some banks are involved in bitcoin transactions and I find it good.
For banks, crypto currency is a direct competitor. If businessmen and ordinary people simply start transferring money directly to each other, banks will suffer huge losses
Six of the world's largest banks, on the contrary, joined the project to develop a new crypto currency, which should become a more universal counterpart of bitcoin.
Yes of course banks will be threatened by the development of cryptocurrency. If banks do not follow the development of technology by not adapting this blockchain technology in their banking system then they should be ready to be replaced with cryptourrency.
Banks don't fear cryptocurrenci8es because they are a different thing. Though the rise of digital currencies may affect the economy of the bank, it won't affect that much. Bank holds the money of the majority of the population. They create and regulate money to the people. But as more and more people discover the use of cryptocurrencies, it may start to affect the budget of the banks.
Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!
They called on people not to get involved. Should we be afraid or the banks are!
If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.
Offcourse the Bank will be afraid of Cryptocurrency and the main reason behind that is not the Cryptocurrency is not safe that because the Cryptocurrency will completely eat up the Market of Banks.
Just imagine all the transaction, bills, payments, money transfer, loans, insurance are regulated through Cryptocurrency than how the bank will make a profit as all the money which is involved will be clearly in front of the peoples to whom the Money belonged.
But as you know the Government will never let this happen as they are tied to the Banks so as they can make a profit for themselves as well as ruining the Economy of the country by bankrupting citizens of the country.
Now even, Lloyds Bank, Well Fargo Bank, all Bank of India have banned cryptocurrency because of they know Cryptocurrency will eat up the banks.
Just imagine all the transaction, bills, payments, money transfer, loans, insurance are regulated through Cryptocurrency than how the bank will make a profit as all the money which is involved will be clearly in front of the peoples to whom the Money belonged.
But as you know the Government will never let this happen as they are tied to the Banks so as they can make a profit for themselves as well as ruining the Economy of the country by bankrupting citizens of the country.
Now even, Lloyds Bank, Well Fargo Bank, all Bank of India have banned cryptocurrency because of they know Cryptocurrency will eat up the banks.
I think banks has no fear in cryptocurrency because crypto can help them to reduce producing traditional money.
By this, it will help them to reduce the increase of having debt in the World Bank. Eventhough using crypto is starting to grow, still it can't replace totally the traditional money.
By this, it will help them to reduce the increase of having debt in the World Bank. Eventhough using crypto is starting to grow, still it can't replace totally the traditional money.
Sentral bank was annoyed by bitcoin, of course having competition when it come to currency specially when it comes to digital money for online shopping and online transaction that they have other options rather than a bank card?
But now many bank are looking for a way to work with bitcoin.
But now many bank are looking for a way to work with bitcoin.
They might but am sure with time they will also adopt the new tech called blockchain...
I think banks feels threatened but I do not think they fear cryptocurrency. Remember cryptocurrency is just a code and anytime this bank institution wants, they can create one and adopt the technology. People are the one managing banks, these people are briliant and capable plus they have the budget. Probably they just don't feel the need to change the current finance system since the still feel secure about it.
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