Do Banks fear cryptocurrency - page 64.

szpalata

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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.

brampower

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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

Targusluxe

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I think so. That"s why there are some central banks in other countries banning bitcoin cause they fear bitcoin
Has more value than their own currency.

foxbat

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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

Very accurate, currency code is a currency that banks are currently not able to control. That is why they do not accept them. In some places, there are also proposals for a ban on cryptographic currency, a really selfish way.

rayneh

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This is a demonstrated thing that banks are fear from cryptocurrency in light of the fact that there esteem is nothing toward bitcoin. Bitcoin is much unrivaled toward banks. Presently a days people are going for bitcoin rather bank in light of the fact that in bitcoin they are getting much open doors while in bank they are getting nothing. So in this way banks fear cryptocurrency.

julzcoinbit

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Quote from: Shikaina on October 29, 2017, 05:15:53 PM

I think so and not only banks but also governents. If not, they would not ban it in china, venezuela and all those countries that threaten bitcoin users so badly. I just read by 2018 bitcoin will be totally banned in Pakistan if i am not mistaken.

There are two different things so why they must fear each other while they can't help each other If government legalized bitcoin and there is a bank of bitcoin and it will broke it's decentralized paradigm because they are control by government not peer to peer anymore.

Shikaina

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I think so and not only banks but also governents. If not, they would not ban it in china, venezuela and all those countries that threaten bitcoin users so badly. I just read by 2018 bitcoin will be totally banned in Pakistan if i am not mistaken.

S3052

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Banks should fear if they cant adopt and improve their system about blockchain tecnology. But decentralized model of modern banking is not so far. IMO current cryptocurrency trend will destroy traditional banking system after few years.

quarkyplum

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Quote from: 1NV3ST0NM3 on October 29, 2017, 12:05:49 PM

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 banks do fear cryptos and the simple reason is that if people will find better returns in crypto world and altcoin exchanges banks would suffer a great deal of business. However some banks have been in continous talks to collab with a few cryptos.

Nope, as far as I know, only some banks from EU want to use the technology from Ripple for the banking system in this arena. Of course, it does not mean they will use Ripple for their system. Because they just want to use its technology than use the cryptocurrency.

1NV3ST0NM3

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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!

Yes banks do fear cryptos and the simple reason is that if people will find better returns in crypto world and altcoin exchanges banks would suffer a great deal of business. However some banks have been in continous talks to collab with a few cryptos.

ekoice

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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.

BitProNews

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Banks are sheety institutions that govern the world behind scenes. I suggest everybody to stay away from their theories and advices because they are much greedy than anything ever exist. They can't control it so they just try to take away their loyal custmers.

macchiato

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Banks are afraid of how btc outpowers fiat money. Real cash are usually eaten by inflation. This is the reason why it is not always good to invest your money in banks because the interest that it gains just compensates the value your money is losing as time passes by. Also, bitcoin offers a lot more profit and allows privacy to users when it comes to investments. In terms of transactions, btc has proved itself to be quicker and more convenient.

Ewinsane

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Quote from: Mr.John19 on October 27, 2017, 09:36:10 AM

Central Bank of Albania said that people should afraid in cryptocurrencies, think if all people courage in cryptocurrencies and all people use bitcoin wallets, banks might be lost or might be bankrupt we know we said bankrupt the state of lack in particular or value. The central bank said to people because afraid to be lost or bankrupt

The statement given by the bank of Albania is just for the defaming crypto but in short this reflects the fear of the bankers all across the world and more of it crypto currency has carved its place in people heart so that no one can vanish it and now comparing with banks, banks are all about their own profit but here crypto is giving 100 percent of profit to its investor and that’s the best thing that is in crypto,

sharpshot

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I don't think banks fear cryptocurrency yet because its only being used by a small percentage of the population. Perhaps Electroneum might change that, as it will probably get more mobile phone users into cryptocurrency and that could be one way to get the masses involved? I do think the banks are going to start fearing cryptocurrency soon.

Hazaki

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Banks have the upper hand in all world wide on Ewallets and Ebanks , and even tho that cryptos have proved themselves investment worthy and have been able to generate a lot of profits and crossing any percentage predicted, cryptos can never replace a real traditional banking system because those ones are supported by laws , governments and very powerful people that won't accept the fact of cryptos beating the banks because in that case those people won't have 12+ digits bank accounts anymore .

tom101

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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

FDC1412

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Banks fear competition with either another bank or virtual counterparts. Since cryptocurrency is somehow the same as the actual currency it can do almost all the things that the bank do. And since cryptocurrency is virtual and computed supported, you can have all the support you need to make it stable and safe that almost nothing is impossible. Cryptocurrency improves as the technology improves. Unlike the actual currency in which you can say the after long years past, it became constant.

bitalive

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Banks are not scared of cryptocurrencies, they are just trying to stay safe in the present situation and obeying financial laws. Banks will start dealing with cryptocurrencies as soon as Government takes a positive side.

thenameisjay

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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 the banks shouldn't be afraid if bitcoins because bitcoins gave their own platform they dominate. Bitcoin is more famous as a DIGITAL CURRENCY where as to banks chase gou for your FIAT MONEY. I think bank wouldn't and shouldn't break a sweat on bitcoins.

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