Do Banks fear cryptocurrency - page 56.

WannaCry

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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 think that cryptocurrency is a threat to banks. Because of cryptocurrency, people don't save their money on banks, instead they invest on bitcoin or other coins because compared to banks, they can earn more money through bitcoin or altcoin investment. Bitcoin or other altcoins are profitable because it is becoming more famous every day. The more people investing on bitcoin the higher the price it's price goes.

PORN_coin

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this can displace banks in the general sense
hence the fear
it's simple

aboy24

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Bank is always prepare ib crytocurrency madae by bitcoins, many invester in a bank also but btc is the best of time to put money online.

queenhallmark

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Quote from: g4vinshreds on November 17, 2017, 12:05:16 PM

I would say that they might or might not, it just depends, while cryptocurriencies can and will take over banks, less technically advanced people (older people) will still use banks most likely. Due to this, the banks probably for the most part aren't super worried, but they should be, because I'm probably never going to use them thanks to crypto.

I don’t think so that bank is fear from any crypt currency because bank system is very strong throughout the whole world and it is impossible to defeat bank system because every country need bank system. Without bank system no country can run their business.

SilverChromia

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No. They do not need to fear cryptocurrency because we all know some other peoples maybe have some cryptocurrency or digital currency like bitcoins or altcoins but in the end they also exchange it to their own countries currencies and put it on the bank to keep it and use it for their future so theres no reason that banks need to fear about cryptocurrencies. And for me thats how technologies works.

bazdarx8

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Honestly not really no Banks fear of any cryptocurrency and I did my research about this the main reason why is because they know their value of any dollar amount will stay the same no matter what compare to Bitcoin it will always rise and lower which will make most people owning them hoping for it to rise, The main truth is nothing can ever stay on top forever it will always decrease overtime like gold or whatever.

Kiweikoo

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Quote from: LydiaBob on November 10, 2017, 06:21:41 AM

Of course they are, cause it is a whole new system! Decentralized, not controlled by them. I am very hopeful that the current system will finally change

It is the reason why the bitcoin is getting high and that a lot of the people are using it because the demand of the bitcoin is high while the supply of the bitcoin is low.

As you said the bitcoin is the now system and the bitcoin is increasing more and more I hope the future of the bitcoin is bright and the we can say the bitcoin will give us the best value and the price I am sure about the increasing price of the bitcoin.

concept2

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Quote from: feiss on November 16, 2017, 06:59:05 PM

Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.

I agree with you. Why should Banks have to fear cryptocurrency? Almost every family has to have a credit card from a bank. Banks have also existed for a long time ago. Cryptocurrency have just been popular recently. Moreover, kids also know about Bank at 4,5 years old and they don't know anything about Bitcoin. Bitcoin may have another bank on the internet.

g4vinshreds

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Trader

I would say that they might or might not, it just depends, while cryptocurriencies can and will take over banks, less technically advanced people (older people) will still use banks most likely. Due to this, the banks probably for the most part aren't super worried, but they should be, because I'm probably never going to use them thanks to crypto.

Kiiti1

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Banks are scared .cause it could destabilize the local currency

Shannykhan44

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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

Mr.Dick

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in my opininion it won't take long and the banks will see the advantages of CC's and invest by their own, otherwise they would be stupid - which they aren't Grin

Kakawate

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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!

In my opinion, I see this as a preventive measure of the banks, they can see that cryptocurrency is rapidly being known around the world, and it is becoming a threat to the banking bussiness, so as early as now, they are trying to take control of the situation by manipulating the minds of the people who dont really understands the cryptoworld. I guess they just dont wanna run out of business.

Rggadi

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Financial institute including bank fears cryptocurrencies , but in the same time they will try to get the control of bitcoin , soon or later , they will get the control because they have money and power

goaldigger

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Maybe the banks what us to prevent from being a victim of scams and not by being a bitcoiner per se. I guess they want us to avoid unnecessary things that can occur online.

Wingo

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Yes it is a threat to the banks, the efficiency of using crypto currencies is far from the cost of using banks as a mode of transaction. Banks are slower compared to cryptos which have a fast transaction confirmation, thanks to the blockchain technology.

coachhip

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Banks are afraid of cryptocurrency because it would force them to innovate. The banks don't want to innovate for the most part because they are making good money and don't want change.

cryptadikt

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They're all getting on board now. Blockchain at least is a definite part of the future now.

feiss

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Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.

Ccexicocartel

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Banks are terrified because crypto eliminates what they're doing. Crypto is disrupting the world and the guys that used to hold the reigns are losing power.

Topic: Do Banks fear cryptocurrency - page 56. (Read 17113 times)