Bitcoin is very alarming to banks this is what happen to Indian banks that freeze their crypto transaction on their country.
Bitcoin can empty banks money if most of the people will cash-out everyday, that is what bank avoided and they want to control it..
Topic: Do Banks fear cryptocurrency - page 26. (Read 17113 times)
Undoubtedly, on the whole, banks are afraid of crypto-currencies because the Crypto-currency will take a significant part of their profits if citizens do not use the services of banks, but will use the crypto currency as a method of financial settlement. Crypto currency is a completely new type of such mutual settlements, which in many cases can do without the participation of banks. However, many representatives of the banking sector understand that this technologically new invention can not be avoided, and they begin to adapt to the crypto currency and use it to gain their profit, while others try to resist the crypto currency and at every opportunity to defame it.
No, they don't but they can't control it yet so they are banning it for now. They will have the chance to control it with the Lighting Network tho, research this matter.
I agree with many guys! Just imagine what capital has gone from the visas and the master cards? !!!! These people, with big wallets, are launching negative news around the world and introducing some kind of prohibitions! The war with the banks will continue until the banks begin to penetrate into the world of crypto!
Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.
Of course they are afraid! With bitcoin, banks are simply not needed. Therefore, banks like JPMorgan Chase classify crypto-currencies as high risks, but try to regulate them and earn them. After this, it is worth considering whether we need banks?
I don't see why banks should consider BTC threat, unless if the argument is that BTC doesnt utilize their storage facilities depriving them of the easy interest they earn on the accounts, i think their main worry should be blockchain instead,because this technology is the one posing a direct threat to the bank operation system.
Banks are constantly talking about the danger of bitcoin, intimidating people with negative information, because more people can withdraw their savings from the bank and use them as investments in bitcoin
They don't need to be afraid about cryptocurrency because there are many people using banks to save or invest their money. But, there is a side that they will be afraid because their banks will be useless.
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.
The banks now have very clever worker so if they want, they can make their own coin so they can follow the technology
I hope the bank also can open their eyes regarding the technology. If they can not stop it then just follow it. Its simple.
Probably they fear because the value now of bitcoin still increases versus the only supply of fiat of a certain country.
I do believe that they don't fear cryptocurrencies, losing their customers rather. The fact that they were trusted by people with their money to be exchanged in a typical currency (the one that we usuually have in our country), would be affected if people would go and put their money in to invest in cryptocurrencies, and this currencies will be using digital wallets instead of bank accounts. Also, they don't recommend people to invest becaue of it's volatility.
Cryptocurrency must to has the government support it to help it become popular more on the world. Without the government, cryptocurreny can not approach to everyone and a lot of people will do not know what is cryptocurrency and how to use this currency. Therefore, for me, the banks does not fear cryptocurrency at least in next 20 years up to a century.
Definetly Yes Banks are afraid to us because there are people choose to store there money in bitcoin and they afraid of losing clients. Bitcoin can dominate the banks as they warning bitcoin or to ban bitcoin.
Banks provide all types of services for the use of fiat currencies. Through these services revenues and profit are generated . The most and foremost important of these services is they create ten of thousands of employments which contribute a fair share to the economic . The banks and central banks fear most is the jobs lost as a result of the generally adoption and the use of crypto currencies. Unemployment creates social problems.
Well i think there is a point why central bank of Albania warns the people to not involve in crypto currency.
Because they totally afraid of it.
Why?. Because cryptocurrencies can survive without banks.
Because they totally afraid of it.
Why?. Because cryptocurrencies can survive without banks.
One of the ways banks earned is through the fees they get from the people who uses their services. Cryptocurrencies can give provide people with the same service and with lesser fees. Small banks may fear cryptocurrencies because of competition but larger banks may just ignore it because they can still earn even with the presence competitors.
Banks around the world have suffered huge losses because of the entire cryptocurrency.
Because people can make their own transfers and check the amount in their wallets, they don't need the bank's services.
Because people can make their own transfers and check the amount in their wallets, they don't need the bank's services.
They are afraid but they are not going to say it openly. This is because they do not have any controls over these kind of currencies. Banks are decentralized and having very slow and complicated methods to get you fully verified and then making your transaction easily.
Some do, some don't. Banks are just groups of people with a lot of money and some nice institutions. They aren't really ''scared'' of bitcoin, some might be afraid bitcoin will take some of their profit away. Other banks embrace it, like ING and try to make money out of that, which is the wiser option. I think more banks will follow.
Maybe they should embrace instead of fear, oh wait that's less profitable for them.
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