Do Banks fear cryptocurrency - page 37.

Asusnumbaone

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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!

Banks are not afraid in bitcoin because they get money or charge everytime we convert our bitcoin into cash then withdraw. Yes, It is true that bitcoin dont need the banks in the transactions I mean in online transaction but can you convert your bitcoin into cash without banks? Banks are not afraid because you will need them to get your money.

pocketfullofpoke

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www.daxico.com

I think bank are in fears of cryptocurrency because it's their number 1 competitor in the payment system as they get no money for every transaction you made since most cryptocurrencies are decentralized in nature.

popoypalaboy03

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Banks are still extremely oblivious to how powerful Bitcoin (and all other virtual currencies for that matter) is and how it will eventually start to prove their business model as obselete.
Banks fear bitcoin, becuase they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it...purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.

snedyolo

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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 don't agree that the proper term for this is "afraid." They are banks, one of the most richest establishments out there, and I'm quite sure that they can find a way to innovate the system that they have. Although, they are alarmed because of the fast growth of the cryptocurrencies, and we such limited time, will they be able to catch up?

TeraBitHoven

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Yes banks fear cryptocurrency, maybe somehow they foresee people are turning to bitcoin to invest and earn profit which affects them because of its decentralize characteristic.

CryptoBaxing

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Fear? definitely not.
Is this an issue they will have to deal with? yes of course.

Naitik

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Certainly there will be a problem for the banks, Lots of us started investing in crypto,which is a huge setback to the banks,
Everyone started investing rather than depositing or saving, on the whole all the banks have their major percentage of money as saving and depositing.
So there is a possibly the reason why different countries are warning about crypto,
because a country's economy highly rely upon banks

lamjed

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Of course banks all over the world fear cryptocurrencies because it s offer them a lot of advantages that real bank can not.
First, cryptocurrency is an escape from taxs that banks put through virtual wallets.
Second, its price is never fix, so it changes and can reach a very high levels.

Allura74

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Quote from: paulmusa25 on January 16, 2018, 03:36:07 AM

Probably they fear because the value now of bitcoin still increases versus the only supply of fiat of a certain country. That is the fear of banks.

I think bank is still have a confident that crypto is not the hindrance of their profitable way because there are still people in the world who are lack of knowledge in crypto currency and they have fear considering for their negative thinking about crypto as a scam, but i believe that time come for the new generations that crypto currency will lead the way in terms of monetary transfer and bank will have no choice but to adopt the new system.

paulmusa25

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Probably they fear because the value now of bitcoin still increases versus the only supply of fiat of a certain country. That is the fear of banks.

arrmia11

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Its normal for some of the banks to fear cryptocurrency because of its nature that it is decentralized and people use this through technology. They doesn't have control over it and people doesn't have to comply with the requirements to go through with the process. People will always go to the convenient way and they can see that on cryptocurrency

muhammedb

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With the rate of crypto-currency increase in the worldwide today I think most banks are beginning to afraid of tomorrow, because most banks now have low saves why crypto-currency now has the highs saves

icoprofits

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yes banks fear cryptocurrency they dont want decentralised nature of storgae of asset and storage of money so banks run after ripple due to de centralised nature

qzaqza1818

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Answer is Yes. Banks earn money by collecting transaction fee from all the transactions of their users/members.
In short term, Banks should not be afraid of cryptocurrency. Yet, the situation may different in long term.

Even though cryptocurrency has become a trend in the world, but most of the poeple still using their country's bank note to survive. For example, you are unable to survive with cryptocurrency only without changing it to FIAT in most of the countries.

basobulat

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there are many interests within the internal state. including a ban on crypto. very not surprised if there are some banks in one country dislikes crypto and bitcoin. I am sure, in time many countries will be involved in crypto.

Edraket31

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Quote from: ?? on ??

That is obvious that banks have fear about crypto and bitcion cause they cannot take control over it. My opinion is that to keep control over it they will promote technologies such as Ripple.

Here in our country they don't fear cryptocurrency because they know that the money that we are earning here will put to a bank too, so what is the reason to fear it? But still they banned those bank account owners who involves in cryptocurrency transaction as regulated by our Central bank so many people have pull out their money in a bank.

Mrsun78

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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!

Absolutely! Because they are not ready in terms of technology. Bankers need to adapt themselves to the new technologies so that they can be the leader in the market. Crypto world is a truth and you can't ignore it via issuing warning about it.

kiddddddd

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“Revolutionizing Brokerage of Personal Data”

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 don't think they are afraid in Cryptocurrencies maybe they just don't have enough regulations or law yet that Central banks can profit. Crypto itself has a huge potential in world economic and based on what I think central banks are not afraid they are trying to control people by scaring them cause they don't have enough regulations and law that can implement.

rhayot

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Banks are quite fear with bitcoin or any other crypto currency. In this generation whereas we are equipped by technology crypto currencies will be dominated as an online currency rather that traditional currencies that we have. So, much better if the traditional banks or any banks will accept and recognize the crypto currencies as a liable currency and be part of day to day transaction.

Alydora

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Crypto is a "new" thing in this world and they have no idea how to handle it. They do fear it at the moment.

Topic: Do Banks fear cryptocurrency - page 37. (Read 17113 times)