Do Banks fear cryptocurrency - page 30.

Bdstar

sr. member

Activity: 728

Merit: 263

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 so Since this platform is becoming a popular and profitable platform around the world so that the conventional banking system getting afraid of this blockchain technology especially Bitcoin. Since this platform is not an old system but It has already created a trusted and accepted platform for making money and payment purpose.

bitfocus

member

Activity: 532

Merit: 15

Bitcoin is the ultimate bank killer, due to its nature bitcoin can kill the present banking business anytime - we just need to start using bitcoin more and more - all the banks will be gone.

Kingigolo

newbie

Activity: 111

Merit: 0

Yes, I believe banks are because cryptocurrencies have come to take their place as a means after easy access to money and easier payments. Take ripple for instance, once fully implemented will usurp swift which is more or less operating unchallenged.

vasrasus

hero member

Activity: 946

Merit: 500

Bcnex - The Ultimate Blockchain Trading Platform

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.

Hmei777

newbie

Activity: 119

Merit: 0

there is nothing to be afraid of because there are some people who redeem their bitcoins on real money and keep it in the bank. I think if the bank can cooperate with crypto currency then it will be mutually beneficial.

galestorm

sr. member

Activity: 448

Merit: 251

Futurov

In my opinion, banks wouldnt be that much concerned when it comes to cryptocurrencies because of the fact that there are those who prefer to convert bitcoins to cash, like old fashioned citizens, they would definitely keep that portion safe in a bank.. though what i do now is that the government is the one who fears cryptocurrency the most.. why? Lack of man power within the society. When people start to lean on bitcoins they would definitely not work for the sake of fiat money.

mukuro04

jr. member

Activity: 61

Merit: 5

On my perspective they should be. Because when you invest in btc, the money that you invest grows faster and in a large amount rather than investing in a bank which has only a .75 percentage interest in a month. And in btc its tax free while in the bank that has a tax

Sar elok

jr. member

Activity: 182

Merit: 2

Cryptocurrency is currently not yet safe because there is no authority which ensures kelangsungannya. The Bank was afraid circulating bitcoin too much of physical money, then indirectly will turn off the bank.

Michellekking

newbie

Activity: 98

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 Banks need to worry. They know that cryptocurrencies don't need Banks, and when people invest in cryptocurrencies, Banks lose their meaning. So now many Banks have resisted bitcoin.

JoseJoseJose

jr. member

Activity: 138

Merit: 4

Varanida : Fair & Transparent Digital Ecosystem

Bitcoin offers a new gate of possibility specially for students and unemployed. Banks will be afraid of bitcoin because they may loss the paper nonetary system if bitcoin will be successfull decentralized coin. And banks may loss also money and job at the same time.

tachi641

full member

Activity: 266

Merit: 100

In my opinion, they will fear in the popularity of the cryptocurrency because cryptocurrency are their most competitor and crypto has more benefits than banking. People are now beginning to see that you can make more money without having a bank.

Falgorn

full member

Activity: 364

Merit: 100

The spread of digital money is undesirable for banks. Banks faced the problem of lower demand for loans, lower profits due to lower interest rates and fading hopes for deregulation.

javadsalehi

member

Activity: 364

Merit: 13

8)I think any thing which attracts investors and causes the people to not put their money in banks is a threat for banks. So bitcoin is a threat and banks don't like it.

Marucya

full member

Activity: 258

Merit: 100

Large US banks are very afraid of Bitcoin. The growing popularity of crypto-currencies poses a threat to financial institutions.

gaby0312

newbie

Activity: 75

Merit: 0

Yes, of course banks fear cryptocurrencies: as a matter of fact, digital money are decentralized. As a consequence, they don't need banks at all. So if cryptocurrencies would take the lead on other money (or completely replace it), banks would tend to disappear as they would become useless.

Oliviec2

newbie

Activity: 5

Merit: 0

Banks are very anxious of that because they will lose their power!

europayio

newbie

Activity: 36

Merit: 0

yes

However, in the retail area at least, most competition is coming from new startups offering better levels of mobile only banking, not crypto per se.
thats why I am bearish on projects like Bankera even a lot of exchanges. The future as I see it will be bringing the 2 worlds together including regular stocks, ICOs, and alts
Only when people are paid in alts, will it be worth pursuing a crypto only bank.

Negyma

newbie

Activity: 35

Merit: 0

yes they are, like here on our country some banks are shutting out accounts of people involved in cryptocurrency.

bajigur894784

member

Activity: 350

Merit: 10

Over time, cryptocurrency is increasingly popular and increasingly recognized by the public. cryptocurrency comes with idealism, that the process of good financial transactions is without a third party like a bank. of course this makes some banks worried, they fear that cryptocurrency can displace the existence of banking.

Sasha Grey

member

Activity: 672

Merit: 10

Quote from: FeArZ on February 05, 2018, 02:19:22 AM

Quote from: Fazlurkhan.kz on January 23, 2018, 11:51:12 PM

Not only the bank of albania but there are couple of other banks too which have earlier warned about the cryptocurrencies and clearly stated that they do not encourage trading in them by any means. And they see cryptocurrencies as a threat to their economy. But we still are permitted to use or trade with them as doing so is not banned or illegal.

I mean forget Albania places like venezvela are making their own cryptocurrency to replace fiat lol

We are waiting for this to happen soon, and I hope the official of the country to make Ann and of course bounty here to make the project a success. and this is sure to be very good news for crypto users like us.

Topic: Do Banks fear cryptocurrency - page 30. (Read 17113 times)