Do Banks fear cryptocurrency - page 54.

KroFly

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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!

Fire for no reason does not happen, so they saw a big problem, namely I believe that this will cause just bankruptcy of all banks and then the collapse of the economy in the state. Maybe not so globally, but it's definitely not a positive moment for them.

De Suga09

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Quote from: Drnice on July 15, 2017, 02:24:02 AM

Banks are not scared of crypto currencies, they are only trying to keep safe their country's currency.
Instead of crypto currencies to make banks disappear, they will work together to achieve one aim.

I don't think so. Banks and cryptocurrencies could actually collaborate. In the first place, they could be used in two different ways. The illustration of having a hard copy and the other,a soft copy could be used to describe how fiat money and cryptocurrency could work. We couldn't just abolish fiat money,what if systems fail,what if internet disconnects,does it mean we will stop living,earning, and spending as well? Of course we couldn't that's why we still need both currencies.

DoublerHunter

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Quote from: a4techer on November 20, 2017, 05:22:37 AM

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!

Of course many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

That is really possible to happen that the banks will lose a lot of users and it will result for having a bankruptcy because of the cryptocurrencies that are better place for making deposit or saving our money but as of now, i think that the banks are now on making a move to adjust their system to adopt this new type of currency so they will not get left behind.

tyronecoinbit

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Quote from: a4techer on November 20, 2017, 05:22:37 AM

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!

Of course many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

They were simply afraid of losing their client. Let's say, if 50% of their client are now engaging into bitcoin, tendency would be they're gonna lose half of their profit. And for sure, they're gonna file a bankruptcy if that's the case. But of course, the banks would not let it happen.

a4techer

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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!

Of course many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

Lipe490

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In terms of investment, yes they do. That's because people could buy a product without using the banks saving them time and money. Efficiency in both areas is key. I research and invest in companies I beleive will survive as best as possible any future bubble and that includes banks. Looking at charts as an investor is useless in the short, especially in it's infancy. It's a pain too many people put themselves through. I like to remind people, "do you watch you fiat bank savings account everyday?". Think of the long run. In a year of fiat bank savings you will be lucky to see a $50 return on $1000.

cherryganda

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banks are afraid of what they called BITCOIN BUBBLE.. well they just joined the community as 5 biggest bank in the world collide just to have their own crypto currency and compete against bicoin .. change ICO if i am nnot mistaken is the project they are having right now ..

Hank3

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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!

No, I think. They can adapt to new conditions ever Wink

Transformation will not be quick.

militarymonster1027

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They have began adapting them, actually.

websoftwareengineer

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Yes they should because bitcoins might affect their business, More and more people are investing in bitcoins and not placing their money on the banks and when this kind of event happen then the profit of the banks yearly will decrease.

Swopon

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Gamdom

I think banks are scared of bitcoin but of not then they should because oneday all country will accept bitcoin as a one of their currency and we all know that btc is crypto and it trade on online then there's no need for a bank

zergenyt09

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Quote from: CurlyGirlyBee on November 12, 2017, 03:56:21 AM

I think it is much more like that banks does not have much believe in on bitcoin or we could say not one at all. It is because of bitcoin being decentralized and very volatile and they most likely are planning that bitcoin is just some sort of scheme and it also is harming their business. But there's also some banking institutions that are aware of bitcoin's true character and i believe bitcoin's value will increase in addition if banking institutions will support bitcoin.

What I believe and observed is that banks are afraid of bitcoin. They are really not sure about what bitcoin is and are not ready to accept that bitcoin has successfully beaten them up badly. People are more comfortable with bitcoin for saving their money and making international transactions whereas banks don’t provide them the level of privacy they want. This is the major reason why banks are surpassed by bitcoin.

Shendy23

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I dont think the are afraid of bitcoin, mabye they're just saying that cryto is not safe and dont get in to it, so that the people will go to banks, its like a marketing strategy, if something is growing up in the business and they are getting left behind they will do something to grab back that thing on top. so i think its just a strategy to them in order to people use only banks and no other digital money or cryptocurrency.

forkchain

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Quote from: Shannykhan44 on November 17, 2017, 11:59:56 AM

Bitcoin is but the most famous example of an emerging technology network with the potential to improve banking. It belongs to the new type of financial animal called crypto currencies, i.e. decentralized, secure money storage and money transfer enabled by the Internet. Roll Eyes

What Bitcoin, and the even more promising Ripple network do, is not to poke a hole in banking’s basic business models—lending, deposits, trading, and money exchange—but to create the embryos for entirely new markets typically referred to as the Internet of Value. That is, a way for regular folks, as well as specialists, to potentially monetize everything, regardless of location, traditional market access and jurisdiction. Kiss

Bank system is strong system and its totally wrong that any bank will from crypto because all countries throughout the whole world need bank system for business and holding money of country and also for doing with business with other countries.

Jombrangs

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Cryptocurrency has a great potential to dominate in this world. Not all countries recognize cryptocurreny as a medium for exchange but they see the great potential to become a standard currency in this world. From the convenience and instant investment provided by bitcoin to its valued customers, the word of mouth the customer gives them a big picture in this industry.
Through this many banks in the world sees bitcoin as a big threat or rival in banking industry

uncoinwhales

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all central banks try to make some proof when you invest in any things witch not found in bitcoin + uncontrolled and can’t be refunded

saqibmunir

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Quote from: learner 7 on November 19, 2017, 04:30:41 AM

Bankers criticize bitcoin calling it a bubble, although they themselves actively create bubbles for example 2007 - 2008

it depend on the situation if work of banks affected by cryptocurrency then Clearly the banks are the ones who are afraid of btc. It is obvious in their acts and their intensive propagation to warn people to stay away from btc. Telling all negative things about it but keeping the information on how btc can be able to help them. Sure, btc have disadvantages because of its volatility but I don't think they have to make people steer away from it without knowing it firsthand.and i also think that crypto currency at the movement is not a big threat for banks

nydiacaskey01

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Definitely not. Traditional banks have their own target market and they also have other ways to earn money aside from usual deposits. Bitcoin have their own market as well. An investor may chose to invest money in traditional bank because of low risk and in fear of Bitcoin losing its value while others may select Bitcoin because of high gain but higher risk.

fearcoka

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Quote from: duyduc256 on November 19, 2017, 12:44:05 AM

Quote from: tianok21 on November 19, 2017, 12:31:23 AM

Of course bank will afraid to bitcoin. Why? the reason is bitcoin is digital used transaction that no fee in depositing and saving money. No hazel in depositing and withdrawing money unlike banks that you need to fill - up forms before you deposit and withdraw your own money. There are a lot of differences between banks and bitcoin in term of transaction through digital that banks owner worried. Now banks owner are worried because there are possibility people no go to bank to save money instead they save money in bitcoin.

In fact almost all banks fear this because Bitcoin can completely ruin the bank and banks are fighting to fight Bitcoin but I think the bank will be hard to achieve because of the technology of the market. Cryptocurrency is much better than bank

I think it is not related, Bitcoin and the banks are needed for our life. Bitcoin can not help the investors saving money with a fixed profits as saving money in Bank. Because Bitcoin is an asset for investment. It can not fix its value while no one has enough power to guarantees the Bitcoin price will not dump.

learner 7

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Bankers criticize bitcoin calling it a bubble, although they themselves actively create bubbles for example 2007 - 2008

Topic: Do Banks fear cryptocurrency - page 54. (Read 17113 times)