Do Banks fear cryptocurrency - page 20.

xiaohao111

jr. member

Activity: 126

Merit: 5

Quote from: flag39 on July 15, 2017, 01:59:50 AM

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!

I think Banks are now worried that cryptocurrencies will affect their position. Now that more and more people are joining the cryptocurrency, the amount of money flowing into Banks will be reduced.

mifanmuzny

member

Activity: 294

Merit: 16

Well in the case of HSBC, it is because they got spanked by the US regulators, so right now they are not involved with anything that might remotely be risky. They got so much bad press and bad fines from the US, that if we found that drug dealers were using chicken restaurants as a front, they may stop lending money anyone that has anything to do with chickens.For everyone else, as of 2015, banks are starting to fear bitcoin for the right reasons. Big consulting firms like KPMG, Accenture, and Deloitte have started scaring the banks with stories of Kodak, Polaroid, and the record industry, that the banks are starting to be very, very worried that their business model is obsolete.

angelakrasnova

member

Activity: 252

Merit: 10

Because the Crypto-currency takes away from them the people who are serviced by their serivis. Loss of people loss of money.

Filthy1

newbie

Activity: 98

Merit: 0

Yes of course they do they don't want power to the people they want to be in control manipulating us all keeping us locked in to a world of fiat debt.

mitsuki

member

Activity: 157

Merit: 11

Banks should follow the new technologies.
Cryptocurrencies do not avoid Fiat but helps making new utilities to make payments and stake much more easy and secure.
Banks may have problems with decentralization and owning personal data of their custumers.
Many of them adopt the new tech in order to satisfy clients and invent new way of profit.

bts378

member

Activity: 186

Merit: 10

If you asked me exactly the same warning I would have done in relation to banks. They probably think that people forget how many banks died in 2008. It's all just competition in the Finance market. Banks have lost the clients, and the process continues.

bakulsandal21

full member

Activity: 214

Merit: 100

Of course they are, cryptocurrencies basically rob them their source of money.

In case cryptocurrencies get globally adopted banks will lose their mighty position as moneycontroller

mabell943

sr. member

Activity: 590

Merit: 258

No. I think they will more treat it as a friend because cryptocurrency will help them to control producing traditional money if many people will use and patronize it.
By this, it will help them to reduce the increase of having debt in the World Bank.

playerbtc

sr. member

Activity: 420

Merit: 255

Yes the should fear cause crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. And it evolves to break the back bone of bank which is a centralized mone managment system. But btc and other cryptos decntralize system it works independently. Like know one can trace it down who is having how much money is being protected in a certain way like there is no way. And investments on bank will go low affirmatively as people are investing money in cryptos somw may be taking lone and investing in btc and enjoying the profit. Its a threat for bank for sure.so fears are expected .

neo444

full member

Activity: 434

Merit: 102

I think the banks are fear from cryptocurrency because they don't know how can control and earn the transactions of money happened by cryptocurrency

Black Angel

sr. member

Activity: 574

Merit: 253

Of course, as we know that the current cryptocurrency marketcap continues to increase significantly so that it makes banks feel threatened, especially if the government legalizes cryptocurrency can make banks disappear.

megalith07

member

Activity: 252

Merit: 15

Truly bank afraid with btc in my nation they afraid not prominent or not be put that be goal of numerous individuals and it influence bank to diminish their salary, influence them to vanish from individuals thought.

khurramshah

newbie

Activity: 19

Merit: 0

Why not the banks are feared for cryptocurrency the nature that bitcoin provided to its users allow them to make payments all around the world without any involvement of banks so this is the bink risk for banks to fear from cryptocurrency

hatun

newbie

Activity: 167

Merit: 0

Quote from: flag39 on July 15, 2017, 01:59:50 AM

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!

I think there is nothing to be afraid. Usually people resist to change. Since bitcoin is a new form of currency based on block chain technology, many banks have no clear idea about it and condiser it as their competitor. Therefore they are afraid of it.

s31joemhar

sr. member

Activity: 602

Merit: 258

Yes the commercial banks are threatened in cryptocurrency because there are lots of people supporting their services through this they can be easily replaced by crypto in this industry

Minionnn

full member

Activity: 204

Merit: 100

I do not think so, bitcoin is virtual currency, it is an anonymous. Banks do not want the people of their country to use a virtual currency without a clear and uncertain investment.

bhubur22122017

newbie

Activity: 140

Merit: 0

Quote from: flag39 on July 15, 2017, 01:59:50 AM

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!

I think this kind of thing is just an attraction .. many banks in different countries are issuing such appeal but the development of digital money remains fast ...
so do not think too much about it, do the thing you want to do ... do not let the problem get in your way

JillClarissa

newbie

Activity: 84

Merit: 0

Quote from: flag39 on July 15, 2017, 01:59:50 AM

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!

I think yes, Banks are concerned that the development of cryptocurrency will affect the interests of Banks. If people choose to invest their money in cryptographic currencies, the amount of money flowing into the Banks will be less, damaging the Banks' interests.

twicezeroiszero

hero member

Activity: 840

Merit: 500

Borderless for People, Frictionless for Banks

Quote from: KrisAlex18 on March 09, 2018, 01:21:38 PM

Quote from: flag39 on July 15, 2017, 01:59:50 AM

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!

For some reason, yes, as we all know bitcoin has all the potential of replacing banks since it makes life more convenient leading to the attraction of more people on it. Maybe somewhere in the future, it would dominate banks making it to the top and being more popular than ever. For now, bitcoin and banks has something to do with each other that's why they are in good terms and they benefit on each other.

Currently, as far as I know, the cryptocurrency user are depending on the banks.
Without banks, we can not use global transfer money through cryptocurrency, because most of our activities still using fiat to payment instead of cryptocurrency.
I think this is the reason some countries still consider to accept cryptocurrency for payment.

teejayrichard2

member

Activity: 574

Merit: 12

the banks are afraid since people now store their money with cryptocurrency which they have control over at all times. banks normally use people's money stored with them to trade and do other things but the story is gradually changing as people now store their money in cryptocurrency making banks scared

Topic: Do Banks fear cryptocurrency - page 20. (Read 17113 times)