Topic: Do Banks fear cryptocurrency - page 62. (Read 17113 times)
Banks may not necessarily fear Bitcoin. They are aware that Bitcoin is competition and competition is bad for business. As more people adopt Bitcoin, it will result in less business for the banks. That should be a reason for concern to them. With the trend of things, it'll be a matter of time, if something isn't done to restrict the popularity of Bitcoin, for the banks to start feeling impact of its competition.
I'm sure that bitcoin is a serious threat to the bank system, this is because the value of bitcoin transactions keeps increasing so that the customer banks will run and switch to bitcoin.
I don't agree with you, bitcoin can be integrated into the conventional banking system and people can keep using bitcoin through the banks. The problem here, banks are centralized and they don't want to take bitcoin into consideration.
I'm pretty sure that they are worried about this, as it will lessen the numbers of clients who are using their services. Banks are totally dependable to the people around, because without us they are nothing. Having with their service fees and loans, they are still alive. Because in crypto currencies, we can store our money through online and banks are not necessary. Banks can't benefits on this, unless they change it into local currencies and deposited on the bank.
banks would not deny the fact that they are scared of cryptocurrencies as it does not encourage the local and traditional banking system. since the bitcoin does not work with bank process, they don't seem to be comfortable with it
yes banks fear from cryptocurrency, because crypto gives an alarm for banks that will hurry ends its business and people will gradually moves towards cryptocurrency for which people make high earnings.
I think for banks they really perceived bitcoin as a competition, and of course we don't have crystal balls to predict what's going to happened in the future, so there is also a fear of the unknown for them. But I don't think they need to fear bitcoin because its not a competition but rather alternatives for us. At least we have options on where to store our wealth not just on the banking system, but through bitcoin as well. Also, Banking system can used the technology of bitcoin, which is Blockchain to their advantage, so they don't need to be threaten.
yes banks fear from cryptocurrency, because crypto gives an alarm for banks that will hurry ends its business and people will gradually moves towards cryptocurrency for which people make high earnings.
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 they're not. In the first place, Ceyptocurrency's aim is not to replace cash or regular currency but jist to be legal and to be used by more people. And also, banks are exclusive for regular currency so, even if cryptocurrency is well known at this moment and is now more in demand in some countries, it will still function since cash is still used by most of the people. Neither banks or us should be afraid since both function in different ways. They called on people not to get involved. Should we be afraid or the banks are!
Bank is a state-protected official agency, I'm not sure banks fear with the development of bitcoin, because banks will continue to exist as long as the central bank exists. besides, if the bitcoin transaction is more massive then one day the bank will receive bitcoin.
Banks are interested into the blockchain technology, soo im pretty sure they arent worried with cryptocurrencies since they pretend to build or use the blockchain into their transactions, and who know they are already working into their own coins. Until the day we can use crypto as fiat banks will have a big role for any crytpo investor, since sooner or later we will need to exchange into fiat.
Banks are not against Blockchain tech, they just do not want Crypto market to grow. As more and more people started investing in this crypto, govt and banks will lose their control from Economy. This will lead to end to banking era which obviously bank officials do not want so they always try to slam cryto market through their negative statements.
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!
All these issues and 'war' between banks and crypto currencies are all over the news. But for me, it would be much better if botch side will adapt each other to benefit each other. Banks should open crypto currency accounts to allow more convenient online transaction. But bitcoin must not lost its decentralized system because that is what makes it good/better.
Everyone is afraid. Russia introduces laws against crypto
I'm sure that bitcoin is a serious threat to the bank system, this is because the value of bitcoin transactions keeps increasing so that the customer banks will run and switch to bitcoin.
I don't agree with you, bitcoin can be integrated into the conventional banking system and people can keep using bitcoin through the banks. The problem here, banks are centralized and they don't want to take bitcoin into consideration.
What else will they fear of.
Including the government is beside them so no one can stop them but crypto currencies.
See how they are creating their own just so they could say they can do it too. Hilarious.
Including the government is beside them so no one can stop them but crypto currencies.
See how they are creating their own just so they could say they can do it too. Hilarious.
I'm sure that bitcoin is a serious threat to the bank system, this is because the value of bitcoin transactions keeps increasing so that the customer banks will run and switch to bitcoin.
I think, so many banks fear from crypto currencies, because they know that they are booming at the moment & most of the online people using crypto currencys to make transactions nowadays. They are preferring crypto currencies instead of banking transactions as cryptos charge low fees rather then banks.
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!
Banks are the source of money regulation in an economy and financial source of help for people but if cryptocurrency gain popularity banks might loose their role of money controller as nobody would prefer fiat currency so yes they must fear about rising importance ofcryptocurrencies if they want to survive in long runThey called on people not to get involved. Should we be afraid or the banks are!
Not only that, people would love to invest into cryptocurrency as they are more easy to get into. Long term investment would really bear fruit if you invest in a good timing with the right amount of money. And they are more efficient and reliable than going to banks just to sign paperworks that tells your interest and other stuffs.
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!
Banks are the source of money regulation in an economy and financial source of help for people but if cryptocurrency gain popularity banks might loose their role of money controller as nobody would prefer fiat currency so yes they must fear about rising importance ofcryptocurrencies if they want to survive in long run They called on people not to get involved. Should we be afraid or the banks are!
in my opinion, yes of course the bank is afraid of bitcoin, because banks can not control bitcoin, in the presence of bitcoin banks will find it difficult to find profits because supply bitcoin will remain that number alone, unlike the fiat that can print as much
Banks are totally afraid of cryptocurrency . They fear cryptocurrency because it may be possible that cryptocurrency eliminated the need of banks in the future . They try to save their jobs and their currency inorder to face no big loss . Their fear about crypto is totally genuine i.e why many centralized banks tends to influence government inorder to limit the use of bitcoin . Sometimes , the main reason is that they have very less knowledge regarding cryptocurrency .
I dont think Banks are that afraid to cryptocurrency and they should not even worry about crypto. The most reason why some Banks influences government to limit the use of crypto is about its value which is so unpredictable. Other reasons is about scam ICO which was the main reason of China to ban them if I remember it correctly.
Jump to: