Topic: Do Banks fear cryptocurrency - page 39. (Read 17113 times)
Sure they are, everyone that is strongly for centralized money has a fear that the cryptocurrencies will destroy banks. That is why Bitcoin gets banned by goverment in many countries. As for Albania, it is not really a technological 'evolved' country and they have no clue what the cryptocurrencies are, it is a poor country and it will stay like that because they are behind the rest of the world.
Not only that, people would love to invest into cryptocurrency as they are more easy to get into. Long term investment would really bear fruit if you invest in a good timing with the right amount of money. And they are more efficient and reliable than going to banks just to sign paperworks that tells your interest and other stuffs.
Clearly, banks fear bitcoin and cryptocurren. If I was the manager of a bank, then I would warn and take measures against bitcoin because bitcoin develop strongly, many people use it, the number of bank customers decreases and benefits the bank reduced.
Yes, There is no doubt in this fact by now that banks feel threatened by crypto currencies especially from bitcoin because people are frequently converting their cash into bitcoin for an easy handling of their money and also to make easy profit with bitcoin which is not possible with banks. Banks do offer profit in the form of interest rate but that money cannot compete with bitcoin. Banks will disappear soon especially commercial ones.
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!
The thing bank could fear from bitcoin is that the usual moneys could just be an option. And if moneys are option from bitcoin then the need of banks or its demand will go down. Since bitcoin could stand alone without banks but just as a simple wallet. The feeling of convenience for some clients would be preferable in it. But after all, banks will be bank. And not all people will prefer bitcoin anyway. So a fair thing for the two parties will do.
Big banks of the world are very afraid of Bitcoin. The growth of the popularity of crypto-currency poses a threat to financial institutions. The spread of digital money is undesirable for banks, as demand for loans is declining, banks' profit is reduced due to a reduction in interest rates and diminishing hopes for deregulation.
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!
Naturally, majority of people do not like competition all. Especially the one that will take away their jobs. So banks are actually afraid of cryptocurrency. There was same announcement in my own country. They called on people not to get involved. Should we be afraid or the banks are!
Maybe? Because some investors who invest is particular bank can change his mind to invest here in bitcoin. I think that is one of the problem if the investor in banks shift to invest ere in bitcoin, if i am an investor i will think twice too because i will earn as higher than i earn in investing in banks.
I do not think that the banks have to fear the cryptocurrency. Banks solve many problem in the market which crypto can not execute. So, banks and cryptocurrency will exist together.
Obviously yes bank are extremely anxious of cryptographic money as well as any advanced monetary standards. They think about it as a treat to saving money. What do you think if individuals quit purchasing treasury charge on put resources into fiat yet put resources into digital currency. it may influence the presence of a saving money framework. I have met such a large number of financier when you address them about digital money the following thing they will disclose to you how you will lose your cash by being trick as though you cannot lose fiat through trick.
Yes they fear crypto . WHY? Because they only want they will be the only one who will benefit on the money of there clients speacially those clients that has a time deposit.
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!
The thing bank could fear from bitcoin is that the usual moneys could just be an option. And if moneys are option from bitcoin then the need of banks or its demand will go down. Since bitcoin could stand alone without banks but just as a simple wallet. The feeling of convenience for some clients would be preferable in it. But after all, banks will be bank. And not all people will prefer bitcoin anyway. So a fair thing for the two parties will do.
Do we need a bank if we can be a bank of ourselves? That's why they're so distracted with the booming of cryptocurrencies. And they believe if they can't beat it, they'll join with it. That's where ripple came from. They fear of losing all of their customers.
Many of the people now are storing their money at different crypto's wallet instead of depositing at banks and people are now using cryto's to transfer money so I think that is the reason why bank fear cryptocurrencies.
Banks really fear of cryptocurrency and in specific they fear about the technology which makes it more valuable. In an article recently the entire sum of loss that banks have faced after bitcoin into usage has been calibrated and mentioned to be much high, hope this will support technology growth and reach eve the common people.
If I own a bank，i‘ll probably add blockchain to my bank
Same as many people. It's the future 😉
No, definitely the banks did not they only care on the people who will get affected of it so they issued a warning about bitcoin or probably as long as possible we need to avoid using it or unless they will ban it. Let me give an example, when people invest their money to bitcoin and get scammed then the money does not get even one meaning it is simply like you put your money in a trash and that is the biggest fear of a bank will have. May be that is the time we should fear about bitcoin but it does not mean that we need to stop, but we need to take a appropriate action when using it.
i don't think so, because bank can take advantage from it, they can open their own bitcoin exchange if govt. Allow and implemented technology in banking system ( block chain technology). Blockchain will increase bank's efficiency and services, i don't think bank fear from crypto.
It is clear that banks are afraid to endanger their status. More deeply, the emergence of cryptocurrency may also jeopardize the rule of the state and they will be afraid of influencing the national economy in terms of their domination.
They are afraid of digital currencies because it is decentralized. Government transactions must be monitored and if digital currency takes place then it would cause a disruption in the economy. Digital coins is not made for those kind of stuffs and that is what the bank fears. Technology is uprising and there are countries who have adapted digital currency. Adapting it won't just affect that country's system bur other countries as well.
If you think about it crytocurrencies like bitcoin doesn't really need a bank in order to function. If so then bank might be scared of this, because once crytptocurrencies take over banks might no longer be relevant.
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