The Central Bank of Albania is managed by a board of supervisors or you could call it board of directors and the Governor. It happens that board members and every one working in C.Bank at all levels is connected with powerful people, politicians, M.P. They have a closed system of salaries. The board puts a price on themselves and for every worker, which has shown to be relatively very, very high. The former governor was impeached and after the High Court revoked the administrative act, he got his unpaid salary back which is much more than any Albanian family could dream of in a life time.
I am saying that probably an algorithm is much better to run a C.Bank than a bunch of "lucky" people
Topic: Do Banks fear cryptocurrency - page 81. (Read 17113 times)
I don't know why banks would afraid of bitcoin, it can't ruined them as the institute. I suppose Albanian bank was saying so about crypto-currencies in that sense, that it's high risk investment and with investing of big money in any of crypto you can loose everything. Just remind how many shitcoins and scam ICOs on the market today, they just can't pump all, only 2-3% among this projects can bring real profit.
Exactly. The respective governments of said banks simply wouldnt allow bitcoin to threaten the status quo. Banks are the gateways between ACH electro dollars and real, cold hard cash. The fiat of a nation is its lifeline; anything that threatens that fiat or the institutions that traffic in it is a non starter. if bitcoin ever starts to cause capital flight in say, the United States, they will regulate bitcoin into ash.
Bitcoin is cool and all, but if bitcoin ever threatens what the financial elite have put into place; well, that will be the end of it.
There is a difference between banks and central banks. Central banks control monetary policy, which can be rendered ineffective if enough people start using cryptocurrencies. Hence central banks issue these periodic warnings.
Thanks for clearing this up in bold. In addition I think the skepticism shown by the various Central Banks of different countries stems from their inability to understand how Bitcoin truly works. Some of them see it as a Ponzi scheme while others think it's an MLM stuff. Even the CB of my country is weary of Bitcoin but that hasn't stopped some of us from embracing it.
Without regulation, markets are unstable . However, countries that over-regulate a disruptive innovation in its infancy will only lose out on the first waves of that innovation
albania bank warning to bitcoin,bitcoin new kind of currency we can buy and bitcoin without depend upon the bank.bitcoin also works like a bank,we can send and receive directly.in future bitcoin is world biggest bank.but one problem here bitcoin price is not stable like currency.
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!
Maybe they do since cryptocurrencies completely wipe the idea of having a central authority involved. Cryptocurrencies run on their own and need no middle man whereas fiat currencies are issued by the government... So, if more and more people turn to cryptocurrencies, they could replace the banking system and implement blockchain technology systems. They called on people not to get involved. Should we be afraid or the banks are!
Yes, I think they very much do. It all comes down to bitcoins decentralised nature and this is something that all banks fear and hate. This is since most banks manipulate currencies and stocks to their favor and reap the profits while digging others to the ground.
However, some banks do not understand enough of cryptocurrencies and do not want to switch to a totally network. However, they will soon learn that this is the future to go and will have to adapt eventually.
However, some banks do not understand enough of cryptocurrencies and do not want to switch to a totally network. However, they will soon learn that this is the future to go and will have to adapt eventually.
sure they do, and governments too. when you start a trading project in real life, every thing is controlled by your country and they take some of your profits but in cryptocurrency trading you pay nothing and you can invest as much as you want which have a big impact on govermental economy.
Banks should be fear with cryptocurrency, because cryptocurrency development is so rapid and could replace the current banking system, bank systems are now quite old-fashioned, unsafe and costly to maintain and use them, with the presence of bitcoin and blockchain systems, naturally if the bank system This time should change and may use a blockchain system
Banks may be old but I don't think they will changed what they have used to. Simply reason, they will lose a lot of money if they implement a blockchain technology to replace their legacy system. Imagine data are freely shared amongst its different branches. It has advantages I know, but it will really affect a lot of banking employees if they implement it. They may even cut employees out for all we know. So they are very afraid of this new technology. They still want the old legacy system because its very profitable for them.
Yes if it happens then many bank employees will come to the road and become jobless. Already they are implementing their own bank app and telling users to do all transaction with that app. These small apps make many bank employee jobless. If they implement blockchain technology, i think slowly the physical bank will disappear.
Banks should be fear with cryptocurrency, because cryptocurrency development is so rapid and could replace the current banking system, bank systems are now quite old-fashioned, unsafe and costly to maintain and use them, with the presence of bitcoin and blockchain systems, naturally if the bank system This time should change and may use a blockchain system
Banks may be old but I don't think they will changed what they have used to. Simply reason, they will lose a lot of money if they implement a blockchain technology to replace their legacy system. Imagine data are freely shared amongst its different branches. It has advantages I know, but it will really affect a lot of banking employees if they implement it. They may even cut employees out for all we know. So they are very afraid of this new technology. They still want the old legacy system because its very profitable for them.
Yes if it happens then many bank employees will come to the road and become jobless. Already they are implementing their own bank app and telling users to do all transaction with that app. These small apps make many bank employee jobless. If they implement blockchain technology, i think slowly the physical bank will disappear.
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 definitely afraid on cryptocurrency thats why they do tell people not to involved with it but the hidden truth is that those banks doesnt like for people to have idea about the usefulness of crypto when it comes on storing money because once a certain person does know the usage of it then it will surely switch and they wont use already the service of banks on storing their money which means they will really lose bank depositors and its really an disadvantage for them. They called on people not to get involved. Should we be afraid or the banks are!
It wouldn't be fair to say that banks or governments fear cryptocurrency as there have been countries like Japan the government of which has given recognition to bitcoin and it's to be used as payment method there. But yes just like I read a news here in this forum yesterday that some parliamentarians of a country termed bitcoin to be ponzi so it may be so that the governments and banks of some of the countries do not have sufficient knowledge of bitcoin and their apprehension towards cryptocurrencies might be arising out of lack of knowledge. Another fact to take note of is bitcoin has not reached where banks have and banks are still an important part of everyone's life but bitcoin is not so imo at least for now banks aren't afraid of cryptocurrency instead they might have plans to come up with their own centralized blockchains.
I don't know why banks would afraid of bitcoin, it can't ruined them as the institute. I suppose Albanian bank was saying so about crypto-currencies in that sense, that it's high risk investment and with investing of big money in any of crypto you can loose everything. Just remind how many shitcoins and scam ICOs on the market today, they just can't pump all, only 2-3% among this projects can bring real profit.
Banks should be fear with cryptocurrency, because cryptocurrency development is so rapid and could replace the current banking system, bank systems are now quite old-fashioned, unsafe and costly to maintain and use them, with the presence of bitcoin and blockchain systems, naturally if the bank system This time should change and may use a blockchain system
Banks may be old but I don't think they will changed what they have used to. Simply reason, they will lose a lot of money if they implement a blockchain technology to replace their legacy system. Imagine data are freely shared amongst its different branches. It has advantages I know, but it will really affect a lot of banking employees if they implement it. They may even cut employees out for all we know. So they are very afraid of this new technology. They still want the old legacy system because its very profitable for them.
Bank and governments are afraid of crypto. Several banks are developing their own block chain at the moment. They know if they don't catch up they will loose in the end.
That's not the true factor, because there is no reason for the banks as well governments to fear of the cryptocurrency. In specific if governments feel bad about bitcoin, surely in a short time period governments would have reacted in such a way to abolish it. So I think banks might have faced big loss just because of digital currency growth, for the same I don't think it fears. 
Bank and governments are afraid of crypto. Several banks are developing their own block chain at the moment. They know if they don't catch up they will loose in the end.
Probably some banks are worried about Bitcoin & crypto currencies but I think there are some banks who are understanding the concept very well and realized that this is something that is going to transform the financial lifestyle in the future and it is unavoidable thus some banks started testing their work environment using blockchain and trying to adopt the change that is coming in their way.
* ICICI Bank executes India’s first banking transactions on blockchain in partnership with Emirates NBD.
* ICICI Bank executes India’s first banking transactions on blockchain in partnership with Emirates NBD.
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 not. Banks will never be afraid to all of the cryptocurrency. They called on people not to get involved. Should we be afraid or the banks are!
banks do fear cryptocurrency because it is not part of their system, they don't offer it, however banks are aware of it. they fear cryptocurrencies because they cannot regulate it and the value is much higher than they expected. banks might in time want to have cryptocurrencies, but that will be a long process.
Banks are really afraid of cryptocurrency because of the nature of this they will not get profit because there will not be huge investment as well as they won't get any transaction fees and other hidden charges from customers.
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