Do Banks fear cryptocurrency - page 43.

cotton ball

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Quote from: luka red on December 21, 2017, 11:34:40 PM

some banks like turkey central bank and Albanian bank admit bitcoin as a threat to global banking.
but bank of England admits bitcoin not a threat to banking system.
bank of england (BoE) head mark carney said on last wednesday that bitcoin's meteoric price gains do not pose a threat to global financial stability.
so I think bitcoin is not a threat to banking system.

banks only serve as service providers, in fact they are greatly helped by blockchain technology and can accept bitcoins anytime and they will still benefit. But it all depends only on government policy alone, many banks in my country also start to express positive response to bitcoin.

luka red

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some banks like turkey central bank and Albanian bank admit bitcoin as a threat to global banking.

but bank of England admits bitcoin not a threat to banking system.

bank of england (BoE) head mark carney said on last wednesday that bitcoin's meteoric price gains do not pose a threat to global financial stability.

so I think bitcoin is not a threat to banking system.

Hoganye

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Quote from: last7minutes on December 21, 2017, 01:34:46 PM

Quote from: Marco Ambrusini on December 21, 2017, 07:03:05 AM

Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. Most banking experts are well aware of the benefits of cryptocurrencies but they just want to de-motivate people so they can still continue their business alone

Yes, many still do not know what crypto currency is, but who knows about it is trying to destroy it by spreading dirty rumors about bitcoin. Soon banks will have to accept crypto currency, otherwise they will lose their customers.

Really? Although, the nature of Bitcoin is a currency, but it does not guarantee your capital can raise more money after bought it. While, the banking system can provide you a safe place to keep your money, but the risk still exist, it does not mean safe all.

haster100

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In fact, banks are afraid of the arrival of bitcoins.
Do not be afraid of banks if we do not bother them. But if the Bank pursues us, we must fight smoothly.

last7minutes

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Quote from: Marco Ambrusini on December 21, 2017, 07:03:05 AM

Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. Most banking experts are well aware of the benefits of cryptocurrencies but they just want to de-motivate people so they can still continue their business alone

Yes, many still do not know what crypto currency is, but who knows about it is trying to destroy it by spreading dirty rumors about bitcoin. Soon banks will have to accept crypto currency, otherwise they will lose their customers.

Marco Ambrusini

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Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. Most banking experts are well aware of the benefits of cryptocurrencies but they just want to de-motivate people so they can still continue their business alone

bribed

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As far as I know from speaking with several bankers, most of them are not aware of cryptocurrencies and therefore also not fearing them.

The ones I spoke with about crypto eighter denied the facts or they tried to ridicule the whole matter. I guess they will be soon enough forced to change their mind.

I guess the banks with a lot of power are kind of scaring crypto, but the smart ones of those wont be scared, they will rather try to get a foot in and to use crypto to their benefit.

removebeforeflight

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Banks fear crytocurrency because their business would be ruined if Bitcoin is accepted like currency with traders and common people. The fear is natural since banks look for more profit from customers and customers earn less profit with their hard earned money.

Bitcoin look for profit share to each individual what they deserve and no intermediate agency for maintaining that and eat our maximum profit and give us little like banks do.

Banks and Bitcoin is like two different entities now and soon banks would adopt Bitcoin to survive.

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

I think that times when banks had fear of Bitcoin are over. They look at it as competition but also as opportunity to make money for themselves and offer new services to their clients.
I don't think we would wait for long for the day when banks would offer to their clients to open Bitcoin wallets, savings and similar. Banks are aware they can't stay behind.

bitfocus

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Yes, Banks and present Central Banking System Monopoly fears Bitcoin a lot as Bitcoin is anonymous, encrypted, decentralized and needs no intermediary for transactions.

Bit4UTeam

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In some ways, probably. Bitcoin system allows people to send money without fee or with fees lower than those of the banks.
Sending bitcoins you don't need to use the bank services and pay for them. Banks are currently losing some part of their profit while a lot of people are using bitcoins.

weblouartisan

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Obviously yes, Here in the philippines banks are removing transactions with bitcoins because obviously it is affecting their business, More and more people are investing on btc rather than placing their money on the banks and set it to time deposit.

daarul50

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There is no reason for banks to be afraid of bitcoin because they both need each other. Inadvertently they have both established cooperation in terms of exchange where there is the role of exchange services that utilize both parties.

reck1ess

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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!

They may be a little bit frighten that someday people will be using bitcoin more than banks. Maybe that when bitcoin got famous they were totally affected from its effect that people are going for bitcoin instead of banks.

TheIO

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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.

Naster

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Crypto Currency Exchange, IPTV, AWS

Remember that the value of cryptocurrencies is based on the law of demand and supply and are not issued by a government or central bank, therefore non-susceptible to interference by the government or some central authority.
At the opposite, the government or central bank of a country can use banks to regulate its money supply and circulation – US Dollar, Euro, CHF, Pounds etc – because they issue the currency and as such, they hold the power to interfere with and influence the currency as they wish; this making clear that the government will be "afraid" of cryptocurrencies like bitcoins as they cannot really control the amount of Bitcoin in circulation.

Also there is an issue of privacy with cryptocurrencies. Generally, the creation of a crypto-wallet requires little or no personal and/or bank account information. It is possible for a user of cryptocurrencies to perform his/her financial transactions without any need to enter personal information and this lack of access to information might not been seen as posivity by bank institutions.

There is really no reason why banks and governments should not be afraid of crytocurrencies these days.

Conquerogue32

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It's quite obvious if you've seen a few interviews with bank officers. They spurt out whatever 'facts' they can come up with just to discourage people from investing in Cryptos.

Anait

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Banks truly fear cryptocurrency. Cryptocurrency provides the freedom of usage as well it doesn't have an intermediary system that control each and every activity of the users. When things go much digitized more users will move towards the cryptocurrency usage.

deppil

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Quote from: Chrystora123 on December 16, 2017, 04:58:22 PM

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!

for now, we do not have to worry, I think Banks is actually worried about the development of CryptoCurrency, they are afraid, their efforts die defeated by the Development of CryptoCurrency ...

I think we are also entitled to worry because when the bank performs an ultimatum on cryptocurrency because it poses a threat to the fiat currency as well as the bank itself. so banks will provide regulation and rules on cryptocurrency. be it a ban or limitation in using cryptocurrency. of course we are worried if it happens let alone to prohibit the use of bitcoin?

webdevmastery

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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!

If banks are creating black propaganda like this then obviously they are really afraid of bitcoins, More and more people are keep on investing in bitcoins rather than placing their money on the banks because the profit is much bigger and it was much faster to grow.

Topic: Do Banks fear cryptocurrency - page 43. (Read 17113 times)