Topic: Do Banks fear cryptocurrency - page 76. (Read 17113 times)

I think bank is right about warning people on using bitcoin due to high risk of being scam.
as we all know, there are a lot of bitcoin site that scam people of there money.
I think that the bank is not only concern on them self,

Yes, Bitcoin doesn't necessary need banks to collect or to save them. but even that is true , that doesnt mean they are not concern to there client.

I belive banks does not fear cryptocurrency, actually they are thinking of using the blockchain brought by the technology of cryptocurrency.    Aside from that banks does not only offer keeping fiat currency but rather they can keep lots of important documents and stuff.  Even if banks loses the power of manipulating currency, they still have their market of keeping things.  Banks/financial institution only wants cryptocurrency to go by the rule but it seems it is kinda hard since cryptocurrency blockchain are public and most them are decentralized that opposed banks privacy and centralization.

Yes I think they rly fear all cryptos

We have nothing to be afraid of banks should. If cryptocurrencies will be in circulations and people barely use the country's currency then there will be a decline in the bank's profit.

Well, they just warned the people and i believe those who are knowledgeable on cryptocurrencies will not be bothered by their advise or warnings. I dont think we need to be afraid, and if we have to, in what matter should we be afraid of? Banks maybe threatened by crypto's growth and dispersal, one day there will be no more incomes for them when crypto users stop using banks.

all of that is our belief in success with bitcoin, we certainly know bitcoin price is unstable, we can learn it and understand every movement and issue that happened which impact on bitcoin price change.

They do banks never feared about bitcoin in past but when it started gaining more recognition people started realizing that why save money in bank and get 6% interest and also pay different types of fees for no reason. If you figured with bitcoin you have control over your money, you make lot more than you made from banks and no need of showing your wealth to others

Of course banks should be afraid of cryptocurrency because they will have none of its fortune. If bitcoin will be popular to everyone, lots of people will just invest in bitcoin because it has way bigger profit that investing in time deposit that banks offer. Aside from it very easy access anytime, anywhere with just an internet connection. Some wealthy people could hide their massive wealth in bitcoin instead in banks. I think its better that they adapt to cryptocurrency fast and find ways to be involved in it.

But they will be forced to change their policies on bitcoin when about 70% of the world accept bitcoin or any decentralized currency

I think the bank is under the supervision of the government. While almost all governments in the world still prohibit the use of bitcoin and it is unlikely banks will violate the regulations of the government and then receive bitcoin. banks will depend on the government

THE Question is poorly phrased...loaded..
The answers thus far predictably naive and ignorant

WHAT THE BANKS FEAR MOST IS PEOPLE..
THE IGNORANT MASS OF PEOPLE TAKING AWAY THEIR MONOPOLY ON WEALTH AND POWER
EDUCATED PEOPLE WHO FULLY UNDERSTAND THEIR THIEVING   MONOPOLY ....THE MAKING MONEY OUT OF THIN AIR SCAM
THE WELFARE SYSTEM OF THE RICH AND POWERFUL


When the average idiot sucker john doe plays with crypto's for greed but remains ignorant of the Banks EGREGIOUS CRIMES AGAINST HUMANITY...
THIS HELPS THE BANKS...THEY LOVE IT...(Say hello to Ripple)

When people understand that decentralized crypto's ARE THE ANTIDOTE TO KILL THE BANKS..and
When THAT IDEA SPREADS and GROWS and starts eating into their monopoly...

THEN YES THEY ARE VERY VERY AFRAID....RIGHTLY SO....

There has ALWAYS BEEN WAR between the rich elite powerful few and the poor mass..

This is just a new battle..crypto's ARE THEE MOST POTENT WEAPON EVER AVAILABLE to the common mass.
A weapon is only effective if it is used properly wisely

As BITCOIN becomes better understood and utilized more decentralized wide spread..so will the resistance to it increase
As will copy cat blockchain clones and traps..we see their growth and hype already..they are INTENTIONAL DISTRACTIONS meant to weaken BITCOIN
We also see a tech race and the attempt to DOMINATE and MONOPOLIZE MINING...Again to PREVENT decentralization...Foster Corporate and State Monopoly
China is leading but ALL the major powers are VERY ATTENTIVE and Concerned.
Russia is now playing catch-up...the U.S. and E.U. are happy to HELP CHINA DOMINATE...
ANY MEASURE TO PREVENT WIDE SPREAD ADOPTION decentralization in the hands of the MASS...



Is it absolutely imperative that we have MANY MANY more small miners and small business USE Bitcoin..THAT IS HOW TO KILL THE BANKS

ONE FINAL WARNING
WHEN BITCOIN REALLY BECOMES A SERIOUS THREAT TO THE IMF AND WORLD FINANCIAL MONOPOLY FRAC/RESV USURY/FIAT SYSTEM
THEY WILL MAKE WORLD WAR TO DEPOPULATE AND REGAIN CONTROL

Bitcoin is more powerful and threatening than all the nukes ever made...
If your name is Rothschild or Rockefeller or Gates or Bush or King/Queen or Chairman or President 

Probably banks will be afraid because banks can generate income from transaction fees aside from lending interest. And if happens that bitcoin would spread all over the world and all of us used bitcoin the banks income will lessen also. Some of bitcoin transactions don't have fees or if have but smaller amount compared to local currency that's the thing they are afraid off.

In short, YES they do. Bitcoin and the blockchain network is forcing them to re-evaluate the way in which they do business(over time) The blockchain and bitcoin is a new type of network in which transactions are recorded chronologically, and publicly allowing transactions to be distributed and not copied across the network. It's an incorruptible digital ledger of transactions that can record anything of value. They need to intergrate or disintegrate. New account holder here been involved in BTC since 2013. Not a trader just a HODL.

I agree, yes any bank can be scared because when their customers will leave them and join a best currency system bitcoin so they would have nothing to do. And surely banks are afraid of bitcoin too because it is a leading crypto currency over the world and its spreading all over the world very quickly and it has many benefits like you can use it for shopping and for business too

But you may think also that there are some banks that are using blockchain technology and we don't even know that some are secretly buying cryptocurrency or developing their own cryptocurrency to compete with bitcoin.Banks are present for a long time and even accumulated lots of money.

I think there's nothing to be afraid of if you know the krypto deeper. And I'm also sure before you join the world krypto already know the risk of all. So here there is nothing to be afraid of because the risk can already be on the scroll.

No matter how much noise cryptocurrencies can make there are no doubt that banking system funded by the government will not be threatened at all,they are confident because they are funded by the government and government will never let something outside they control own and dominate them

I would say yes and no , why because

• Crypto currencies technology is fairly new so its not 100% trusted
• They fear the rise of crypto currencies will make the banks something of the past like what computers did to type writters

May not currently, because of the possibility of banks being harmed with cryptocurrency, because transactions from cryptocurrency are not cut by taxes. But, if the bank works with a company that has cryptocurrency, it will probably have a different story.

I think that banks are afraid about the boomed of the economy of bitcoin and other cryptocurrency. The banks are afraid because people may now keep their money into their mobile phones and other gadgets so that it will decreased the job of the banks about keeping the money of others.