Do Banks fear cryptocurrency - page 63.

hastag_80

member

Activity: 392

Merit: 11

The New Pharma-Centric Marketplace

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 thinks banks not fear with bitcoin unless that the government regulated bitcoin,thats the time we can say that there's chances that banks will fell worry in bitcoins.

MoonJeina

sr. member

Activity: 652

Merit: 250

Make winning bets on sports with Sportsbet.io!

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 .

bitcoinmasterlord

legendary

Activity: 1148

Merit: 1006

Quote from: gabmen on October 30, 2017, 09:34:52 AM

Quote from: rasmadisulaiman on October 30, 2017, 08:25:27 AM

Actually banks are afraid of the arrival of bitcoin.
Do not be afraid of banks as long as we do not bother them. But if the Bank is harassing us, we have to fight smoothly.

Basically, it's everything that people want that they can't get from banks. And bitcoin is now garnering a huge following and that's probably the reason by banks are wary of bitcoin. They may lose a lot of majority of the population in the future shifs to cryptocurrencies

A cryptocurrency will not replace banks, but because of these currencies, the bank's income will come down. The Bitcoin and other coins are user friendly this generation people like to do only digital currency transactions. So in future, all youths will support this bitcoins, and it becomes one of the major currency in all over the world.

valentin68

full member

Activity: 459

Merit: 104

The reality is that banks do not know what cryptocurrency is. Here where I am in my country, it was difficult for banks to know about PayPal, then about other as Skrill or others. Here in my country I repeat banks do not know what the cryptocurrency is. I regret saying this, but I prefer to receive my earnings in PayPal, or Skrill or Bitcoin than in my bank account.

I'll tell you something that happend to me 4-5 years ago in my country (an important Eastern European country). I went to the second biggest bank and opened an account with 5 Euros. It was BRD Societe Generale, I guess all people from Europe know it.

They gave me many papers and told me that the account is opened. After one year I decided to withdraw the 5 Euros that I deposited. Guess what? The boy from the bank told me that my account does not exist, that it has never been opened. When I gave him the papers that the bank gave me on my account opening he told me that my account was closed, because of the taxes. What taxes had I had to pay in a year from 5 Euros that they closed my account?
They were saying the interest was 6%.

Thus the answer is that banks do not fear cryptocurrency. They do not know what cryptocurrency is.

gabmen

hero member

Activity: 1246

Merit: 529

CryptoTalk.Org - Get Paid for every Post!

Quote from: rasmadisulaiman on October 30, 2017, 08:25:27 AM

Actually banks are afraid of the arrival of bitcoin.
Do not be afraid of banks as long as we do not bother them. But if the Bank is harassing us, we have to fight smoothly.

Basically, it's everything that people want that they can't get from banks. And bitcoin is now garnering a huge following and that's probably the reason by banks are wary of bitcoin. They may lose a lot of majority of the population in the future shifs to cryptocurrencies

Slipknot79

copper member

Activity: 658

Merit: 500

Blockchain Just Entered The Real World

Bitcoin and cryptocurrency is the biggest threat that banks have had to face since they first started.

That said - if they are smart - they will change with these times.

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: Allan Ramanda on October 30, 2017, 07:49:19 AM

I do not think it's afraid, because banks have strong support from the government. while bitcoin and crypto are illegal currencies that can not be controlled by the government. and banks just in case because the world of crypto is currently popular around the world.

Are you saying those out of sheer ignorance or you're just another troll that found his/her way to this forum?

Anyway, It is like Bitcoinvestor pointed out, accepting deposits, remittance, exchange, loan, etc used to be something synonymous with banks only, however Bitcoin have broken that monopoly and anyone can now be a bank. So do you really think the banks are raising their glasses to these developments! They certainly are not, - not after they are used to stealing from people but now that people are becoming the wiser, aside from banks losing money, they're also losing relevance.

rasmadisulaiman

full member

Activity: 364

Merit: 100

Actually banks are afraid of the arrival of bitcoin.
Do not be afraid of banks as long as we do not bother them. But if the Bank is harassing us, we have to fight smoothly.

valentine401

full member

Activity: 378

Merit: 100

Quote from: moamin77 on October 30, 2017, 07:18:20 AM

I believe they do! Especially with the increase of their daily issues, long delay & non-sense processes compared to the simplicity of BTC & crypto currencies that more folks start to realize & enjoy & that reflects on the increasing number of complaints from the current banking systems

They will only fear that no one will place money in their bank and it will slowly kill the industry of loaning and time deposit. In my own opinion i think that they will implement a function for bank that they can also hold bitcoin and will double the price every month so that more investors will still come.

BabyBoss

full member

Activity: 462

Merit: 100

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 banks are really get feared because they know that bitcoin has more advantages and benefits that people can really want if they already know about it that's why some banks really destroy the image of bitcoin in some people especially thise who is not yet encounter butcoin.

argiyan.tri

full member

Activity: 271

Merit: 103

I think the bank is just afraid of being displaced by cryoto and therefore the bank issued the warning. this is just my opinion.
CMIIW Thank You

dangdangdang

full member

Activity: 224

Merit: 101

THE WORLD'S FIRST FIXED MONTHLY ALLOWANCE PLAN

I agree that banks are afraid of digital currencies because there's no need to save your money to banks since we have already wallets that our assets are in it. Banks purpose is to save and keep our tangible cash to avoid fear of getting robbed.
Indeed, they would feel like they're not needed anymore.
In the future, I predict that banks will become Crypto Exchange.

UrsoNomato

newbie

Activity: 18

Merit: 0

yes they really are afraid of cryptocurrencies because unlike bank they have higher fees and it have some lots of requirements it needed.
I do not think it's a good

Allan Ramanda

full member

Activity: 462

Merit: 100

I do not think it's afraid, because banks have strong support from the government. while bitcoin and crypto are illegal currencies that can not be controlled by the government. and banks just in case because the world of crypto is currently popular around the world.

bitcoinvestor

hero member

Activity: 812

Merit: 501

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!

Yes, some banks are affraid of the growth of bitcoin usesrs. They tend to dislike cryptocurrency community. This is the fact that some business held by banks threatened by bitcoin. Storing asset now is easier with bitcoin wallet. This is one of banks field of service. Other are remitance, transaction, exchangers and some business. The growth of cryptoccurrency has destroy the glory of hongkong stock exchange. Hongkong stock exchange now closed.
https://cointelegraph.com/news/sign-of-times-hong-kong-stock-exchange-trading-floor-closed-to-be-turned-into-museum

Bellator

hero member

Activity: 826

Merit: 501

Quote from: ekoice on October 29, 2017, 12:02:18 PM

Its a formal warning issued by central bank of any country which controls and regulates all other banks in that country.Whenever a new project or scheme comes related to economics,central banks issues a warning to people about it.Even the reserve bank of india issued a warning that bitcoin is very volatile and risky investment.But later,indian government changed its stand about bitcoin and had decided to legalize bitcoin.So,that's no need to worry about.But normal banks considering bitcoin as a rival is another issue.

I don't really thought that they do fear in crypto currency, even how popular bitcoin is but still it cannot give such great loss for the bank since crypto currency is not yet fully operated for all the transaction in the world. In the end many investors in crypto currency will still need bank transaction for the money transfer into real money.

moamin77

full member

Activity: 310

Merit: 102

JACS.tech

I believe they do! Especially with the increase of their daily issues, long delay & non-sense processes compared to the simplicity of BTC & crypto currencies that more folks start to realize & enjoy & that reflects on the increasing number of complaints from the current banking systems

dhas

full member

Activity: 168

Merit: 120

Quote from: tom101 on October 28, 2017, 05:24:15 AM

I think banks are not afraid of crypto currencies, the just hate crypto currencies because they are unable to control crypto currencies, and no matter how useful and how popular are crypto currencies, the bank won't collapsed

I dont think so. I dont see any reason for bank to be scared about cryptocurrencies. If they can only know how to handle the digital world, then they dont need to be threaten. But if they think that bitcoin currency can be better than banks that's the time they should prepare themselves for a big change.

KuromaYoichi

sr. member

Activity: 756

Merit: 251

Sovryn - 300-500% APY on USDT Deposit

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 they are afraid, if their customer stopped depositing money then they are basically screwed. They can't control crypto , it has more advantage than using bank service and it will snatch their customers so they want to get rid of crypto as their competitor.

twicezeroiszero

hero member

Activity: 840

Merit: 500

Borderless for People, Frictionless for Banks

Quote from: szpalata on October 29, 2017, 07:29:36 PM

Quote from: brampower on October 29, 2017, 06:32:22 PM

Quote from: tom101 on October 28, 2017, 05:24:15 AM

I think banks are not afraid of crypto currencies, the just hate crypto currencies because they are unable to control crypto currencies, and no matter how useful and how popular are crypto currencies, the bank won't collapsed

If you are talking about the governments then it is right that they could not control bitcoin in every aspect,but they could bring some regulation and monitor the flow within a country if they regularize exchanges or the places where bitcoin is owned or transferred .The fear banking systems do have is that if people start using it more then they wont be having any jobs in the long run. Grin

Yes the governments and central banks are all inclusively together afraid of cryptocurrencies especially bitcoin because if their citizenry adopt it on a large scale they cannot monitor their finances and they will render the local fiat useless if some bad people are living in their economy.

That is not all, the main of reason the government do not want accept Bitcoin is the tax and the management the world's economy and finance.
The world's economy and finance control by the internation banking through FIAT and Gold.
But Bitcoin is unlike these things, it can not controlled by anyone, so do you think the government can keep their power when they accept Bitcoin? Roll Eyes

Topic: Do Banks fear cryptocurrency - page 63. (Read 17113 times)