Topic: Do Banks fear cryptocurrency - page 59. (Read 17113 times)
Yes, they are simply scared of what it is growing to be. Judging by a relevant video I watched recently, our main ba have already set up a pnnel to check out the applications of the blockchain and Cryptocurrency in itself and just how it may be used for use. A buddy also told me that he fears for the people employed in banking institutions at the moment with things are going, guys might quickly be not having enough financial institution work soon. I guess the sooner the better they start the adoption in order to have everybody together.ak
Banks have many faces
They are not actually scares from BTC because BTC has always been beneficial to them , people who use btc as an asset eventually convert them into their native currency by depositing it into banks by an indirect way .
In my opinion the only thing for banks to fear is when people understand the main Moto of BTC of giving financial freedom , and stop converting BTC into their native currency.
They may give negative trusts to BTC so that people Stay out of it and never get to know about the advantage of BTC .
They are not actually scares from BTC because BTC has always been beneficial to them , people who use btc as an asset eventually convert them into their native currency by depositing it into banks by an indirect way .
In my opinion the only thing for banks to fear is when people understand the main Moto of BTC of giving financial freedom , and stop converting BTC into their native currency.
They may give negative trusts to BTC so that people Stay out of it and never get to know about the advantage of BTC .
well some banks says that it really unsafe..some countries are shutting down bitcoin and other crypto-currencies because it may be used in illegal transactions since it has less information of the owner and it is not well regulated by those banks or countries..it will most likely have trouble with fraud and money laundering
A mere Inchcaution" does not automatically imply they're scared on some thing as also they are the main bank of Albania meaning they are managed through the federal government issuing an alert to the citizens is common process in managing the deficits they'll take on scams and other alike activities, it is usually not the same as prohibiting the cryptocurrency to become use by its people. Banks have the ability to adapt and they can adapt quickly and take it his or her advantage.
Banks don't fear cryptocurrencies because they are a different thing. Though the rise of digital currencies may affect the economy of the banks, it won't affect that much. Banks holds the money of the majority of the population. They create and regulate money to the people. But as more and more people discover the use of cryptocurrencies, it may start to affect the budget of the banks, banks will possibly start to allow the use of cryptocurrencies in the fear of losing all its money.
Banks are indeed very fearful of bitcoins because since bitcoins emerged and people realised that they could make money out of it, they have started saving their money at banks and they are rather saving it in bitcoin wallets, since banks need money to operate and they are having less and less customers, they are actually fearful of bitcoins making them lose all their customers.
Banks are afraid of cryptocurrencies and we shouldn't be surprised. Bitcoin allows us to become our own banks, we no longer need 3rd party to keep our funds secure. The only purpose of banks in the future could be loans and acting as an exchange. It will be hard to replace paper money with cryptocurrencies mostly because of banks. They are afraid of being ditched.
Do Banks fear cryptocurrency? That's a very good question. You can see the CEOs of banks coming out one by one to give their thoughts on bitcoin and how they think its a massive fraud. Why it's not the company like coke cola making such complaints because there are so much at stake for them. Currency, Trading, investment, ICO, crypto currency led by Bitcoin is disrupting banking in every aspects. They say because they are seriously concerned.
On one hand, central banks want to protect their country's currency and monetary independance, but on the other hand they are also afraid of loosing their power. It's like being a king without a crown, there's an indicator of power and money is the bank's one. It isn't in their favour to just let people be that independant, they want the dosh too.
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!
If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.
Yeah you are correct because crypto currencies is possible treat to the banks. Owners of banks are afraid to digital currencies because there possibility people did not need banks to save money. Through digital transaction banks are no involvement and no hazel in depositing money and withdrawal of money. Digital currencies can be save without banks transaction and less hazel. That's why banks owners are afraid in crypto currencies.
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!
If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.
Yeah you are correct because crypto currencies is possible treat to the banks. Owners of banks are afraid to digital currencies because there possibility people did not need banks to save money. Through digital transaction banks are no involvement and no hazel in depositing money and withdrawal of money. Digital currencies can be save without banks transaction and less hazel. That's why banks owners are afraid in crypto currencies.
yes. bank afraid with bitcoin. in my country they afraid not popular or not be place that be destination of many people. and it make bank decrease their income, make them disappear from people thought.
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 are protecting people's money actually a lot of scam now using cryptocurrencies They called on people not to get involved. Should we be afraid or the banks are!
so we need to Keep keen eye when invest a coin, banks are not afraid of cryptocurrency
because now cryptocurrency not strong enough
With their main purpose a storage institution and money controlled, ofcourse they would feel threatend. If cryptocurrencies became more well know their main purpose would soon gonna be storage for gold and other jewelries. And also gonna be an exchange center.
Of course banks will be frightened by the development of cryptocurrency, evolution happens not only to living things but also to technology. If banks do not follow the evolution of technology by not adapting this blockchain technology in their banking system then they should be ready to be replaced with cryptourrency.
Such a situation prevails, because already banks have been experiencing a fear about the growth happening with bitcoin as well the other digital currencies. As a part several countries have been getting into creation of their own digital currency as well some has been into creating their blockchain based on the business platform. Hope soon the technology will make an revolution and we're in the beginning stage. 
For a bank to operate it needs the people to keep using their banking services but with digital currencies becoming popular and people shitting to use these in prefer over fiat, the banks are losing out and they will have to act fast and see how they can profit from using the blockchain technology or they will be out of business...I guess banks are afraid of cryptocurrencies after all.
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 the government and social media gives bad benefit or disadvantage only when creptocurrency are topic. I think they afraid only in the cryptos because they know the talent and the good benefit about the cryptos so if all people know about the good benefit of cryptos maybe they go into crypto and left the bank and that my idea why the banks make wrong information to not involved people They called on people not to get involved. Should we be afraid or the banks are!
Cryptocurrency is a decentralized financial system with no middlemen and secured. Cryptocurrency are not only secured, but also are fast, transparent, anonymous and non-susceptible to government and central bank. As, cryptocurrency is decentralized there is less chance of inflation and also have lower transaction fees due to don't have any middle man. These kinds of features can attract people to Cryptocurrency market. And people losses their interest to use a bank. So, Banks fear about this.
Yes, of course they do fear cryptocurrency.
Because bitcoin or any other decentralised cryptocurrency allow the people to trade peer to peer takin off the use of any middle man, which in traditional commerce is a bank.
Because bitcoin or any other decentralised cryptocurrency allow the people to trade peer to peer takin off the use of any middle man, which in traditional commerce is a bank.
Yes true, gradually bank fear with cryptocurrency, even the current market share cryptocurrency has reached 200 billion USD, if the bank did nothing then the banks immediately abandoned the user and finally disappear.
Of course banks will be frightened by the development of cryptocurrency, evolution happens not only to living things but also to technology. If banks do not follow the evolution of technology by not adapting this blockchain technology in their banking system then they should be ready to be replaced with cryptourrency.
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