Topic: Do Banks fear cryptocurrency - page 41. (Read 17113 times)
I think that in the not too distant future blockchain technology will be part of banking transactions, and I think we have a bit of that with ripple and its association with central banks.
Yes, since the Bitcoin has no tax involve and I think since the bitcoin price is volatile that banks will have a problem in keep up.And correct as the above comment says, as of now they can't regulate it.
Yes ofcourse. Thats why every country is trying to regulate it. But in crypto currency world, the fees and transaction/network congestion is a big problem to get familiar.thats every crypto currency is facing now.
I think banks are afraid of cryptocurrency because they might not follow or cant keep up with it that might end to bankruptcy. Since Bitcoin dont have tax, Banks will say no to it. Also it is because Banks wont have the control of the value of the Bitcoin.
Banks are aware now of cryptocurrency and others are fearing that biggest clients will be gone as they are only giving a very small interest to those deposits that are sleeping on their business. And if these clients will understand that if they'll let their money sleep through crypto's and they decided to take the risk then that's going to be a big lost of client to them.
Banks are completely scared of the thought of a new economic model, and rightfully so. I hope bitcoin can fulfill its potential and disrupt our society in a big way.
With the increasing emend of faster transactions, banks are failed to keep up with the demand, hence people are highly attracted towards bitcoin. There are many ways in which bitcoin is far better than banks. The freedom and control bitcoin provides you over your wealth is not provided to customers by banks rather they are all the time deducting different taxes form your money. People are leaving banks for common uses.
During near future I do not see any major threat of cryptocurrency on the existence of Banks. Reason being very small minority is using transacting in cryptocurrency. Majority is customer of Banks. Even the people who are using crypto currency are also doing their major transactions through Banks because they have to make payments receipts to the persons who are in majority but do not transact in cryptocurrency only transact in Banks services so they accept transactsion via banking sector only.
But with the passage of time more and more people will start using crpto currency mode and definitely it will be start of alarming threatening era for banks. At that point of time Banks must have to invent such measures with which they will be able to offer very cheap services related to crypto cucrrency. If they will be able to shift their business nature from current currency transaction system to cryptocurrency transaction systems then there will be no threat for their existence even they will grow more and a faster speed.
But with the passage of time more and more people will start using crpto currency mode and definitely it will be start of alarming threatening era for banks. At that point of time Banks must have to invent such measures with which they will be able to offer very cheap services related to crypto cucrrency. If they will be able to shift their business nature from current currency transaction system to cryptocurrency transaction systems then there will be no threat for their existence even they will grow more and a faster speed.
I think other banks do fear of cryptocurrencies and some are not. Because other banks have transact and process involved in cryptocurrencies. And I think in the near future he other banks who have fear about it will not be fear anymore.
Yes, Banks have fear of cryptocurrency because they have the risk of losing the customers due to they investing more in cryptocurrency compare to banks and everything is going digital.
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!
I dont think Bank are afraid of Bitcoin currency they are just strategizing on how they can protect the fiat currency well in fact there are news circulating that even bank are investing as well in Bitcoin and they are taking advantage on the profit they might get from investing on it.
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!
no never will be fear on bank because bank ismaking money same by the other crypto currence so why we should got to fear on bank! crypto currency is a type of a money so if bank didn't want it who cares. they dont got disapear crypto currency. They called on people not to get involved. Should we be afraid or the banks are!
im more scared if the bank started to make their on cryptos and take control over the cryptocurrency in the future..
Banks don't fear of cryptocurrency, but truly speaking banks around the world has experienced a big loss just because of the entire cryptocurrencies. Right now the banks were with plans to get integrated with the cryptocurrencies and provide service. Such an access can be found in banks by the upcoming years and there is no fear on its growth.
I think this is the best answer here. We see companies, investors, and people entering the space and they will all coexist and find ways to feed off of each other as it were.
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!
Banks are fear cryptocurrency. Because transaction of crypto coins are fast than banking and more safe. Crypto coins are decentralise. So no bank fees and takes and rules. Cryptocurrency catch customers in bank use soon. therefore most of banks fear cryptocurrency.
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 banks should not be afraid of bitcoins. In fact, banks should embrace bitcoins. Bitcoins have a lot of potential to be invested on other things like insurance or stocks. Since its value is so high, then it would be smart to invest bitcoins on other high return investments that require high initial investments.
Of course they do, that's why some are making their own coins, but most of them just lobby cryptocurrency banning. However I think that the threat is overrated. Crypto is not going to replace fiat in next years even close.
Well so many banks do, but some are showing serious glimpses of hope and faith in btc and alt coins. I believe there is gonna be a different side to the story in 2018
It can mean competition in some aspects, but it would depend on what the banks are up to, they do more than just act as payment processors. And crypto, while it brings certain advantages, isn't exactly without flaws.
Every county has a policy and bank run under the policy.. bank not afraid about bitcoin bcz its still not on legal position in whole world. they just want to save their country money .. other wise it will be case of money laundering
I am definitely sure bankers are extremely afraid of the rising crypto-currencies because if more and more people starts to use crypto-currencies, bankers would be out of jobs as no one would want to pay the bank on the high telegraphic transfer fees just to transfer some funds to another person.
Jump to: