Topic: Do Banks fear cryptocurrency - page 84. (Read 17113 times)
Crypto currencies or digital currencies don't need any Bank. People can save their Token without Bank's help. And Bank doesn't fear crypto currency. Central Bank issued the warning because of the want to save their country's currency. And Central Bank is the guardian of Money Market of any country. That's why the issued warning.
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!
Banks are cautious by default, even now the banks think that we are a form of competition and it defeats the purpose of having the option to purchase any cryptos with a bank instead of proving a service, the idea of isn't cryptos whole purpose to stay away from the banks may be true but it doesn't mean that it should just be avoided at all cost.
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 are thinking about Thier future , Before 3-4 year ago people was investing as an saving in the bank account .They called on people not to get involved. Should we be afraid or the banks are!
But in the present time most of the people are now highly wise and they are investing in the virtual currency or you can say cryptocurrency . That is results into lack of investment in the banks and that is results in down the the earnings of the banking sector .
So here we should ignore ourselves and use the Bitcoin and other altcoins in perfect way to make better earnings .
I don't think so right now. Crypto have its hype but in dealing in daily basis it fiat is simplier and much cheaper.
Krypto is only good in few areas but converions fiat czypto takes fees and it makes you allways paying more for goods.
Krypto is only good in few areas but converions fiat czypto takes fees and it makes you allways paying more for goods.
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!
This is the first move of any authority about a some thing that is new to their eyes. The same thing were announced by the Central Bank of the Philippines way back 2014 when Bitcoin were getting popular in our country. But their announcement were reverted into accepting Bitcoin as mode of payment or money this 2016. I do not think they fear cryptocurrency but rather give warning to their citizen to take caution in dealing on something that is new them.
In the future maybe banks should be afraid of cryptocurrencies but right now banks have nothing to be afraid of. Cryptocurrencies is still relatively new and quite evolving and in fact not yet that powerful...enough to topple the traditional banking system. We are even in quandary right now and we are panicking...something that is telling us that there are weaknesses that need to plugged first before we have an ambition of replacing banks. Again, cryptos can be threat to banks in the future but not yet now.
it depend on the country, i think bank are not really against bitcoin as long as it's regulated on their country, like in japan for example, thanks to the regulation banka nd bitcoin can live together
and because they pay taxes on bitcoin usage they can also benefit from having an additional payment system, i'm not sure but it's possible that in japan, banks do offer some form of interests on deposit already
and because they pay taxes on bitcoin usage they can also benefit from having an additional payment system, i'm not sure but it's possible that in japan, banks do offer some form of interests on deposit already
I would agree that they fear bitcoin even now its no gaysaying that they are providing support for bitcoin considering the moving of fiat into bitcoin and vice versa especially from major exchange sites but the fear is the moment bitcoin is legalised and we can get majority of the things we need with bitcoin, then there won't be need for banks again as middlemen to get things and that's exactly where their fear is which might then turn them obsolete in the current scheme of things.
It seems to me that the banking system is so strong that it has nothing to fear from the crypto currency or, in particular, Bitcoin. The fact is that even today all banks and the banking system of different countries are being tested with the help of the blockchain. Therefore, I think that banks are keeping pace with the times and they will be ready for all the world's introduction of crypto currency into the financial system. The point is not to underestimate the bank.
I would agree that they fear bitcoin even now its no gaysaying that they are providing support for bitcoin considering the moving of fiat into bitcoin and vice versa especially from major exchange sites but the fear is the moment bitcoin is legalised and we can get majority of the things we need with bitcoin, then there won't be need for banks again as middlemen to get things and that's exactly where their fear is which might then turn them obsolete in the current scheme of things.
I strongly believe that at one point, these banks fear for the now popular digital coin - bitcoin.
And with the rising popularity of altcoins, one thing that they can do is ride the hype - make their own digital currency.
Otherwise, they will be left behind while crypto will continue to proliferate and will be stronger in the market.
And with the rising popularity of altcoins, one thing that they can do is ride the hype - make their own digital currency.
Otherwise, they will be left behind while crypto will continue to proliferate and will be stronger in the market.
It's no secret they've opposed Bitcoin from day one because the banks fear competition and since Bitcoin if allowed to be fully operational globally will render the use of banks useless in no time and hence they fear they will loose their relevance and will do anything to kick against Bitcoin and other cryptocurrencies.
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!
It's a mixture of both for right now. Banks are unsure of how to exploit cryptos (not that there are many ways to do it anyways) and they don't want people looking into things that reduce their power (and by proxy the government's power as well). If too much of that happens, they lose monetary control and it all goes downhill for governments who can't control their own citizens.They called on people not to get involved. Should we be afraid or the banks are!
At the same time, they aren't afraid because they can see that Bitcoin looks a lot too complex for most people, and people don't want to move to something that doesn't work for them already. It's a guessing game of when the balance tips and people start to use Bitcoin more than what the government wants.
I strongly believe that at one point, these banks fear for the now popular digital coin - bitcoin.
And with the rising popularity of altcoins, one thing that they can do is ride the hype - make their own digital currency.
Otherwise, they will be left behind while crypto will continue to proliferate and will be stronger in the market.
And with the rising popularity of altcoins, one thing that they can do is ride the hype - make their own digital currency.
Otherwise, they will be left behind while crypto will continue to proliferate and will be stronger in the market.
Humans fear to lose their jobs to machines. Machines are reliable, work 24/7 and ROI is way better compared to a human. So, of course, there is fear of something new, but we humans are able to adapt to new situations. Banks will use cryptos or slowly die.
But the thing about cryto currency is that you can keep them safe without the help of any banks.
As you have said, humans adapt, businesses and banks must do too so they can survive in these cruel world. But the thing, banks may reduce in the future because of the digital currencies so they are fearing them.
Lol people are always afraid of new things even if it'll make their lives easier or better. So many inventions weren't stifled because it was going to get rid of current jobs or someone rich was going to lose their income. In this case it is someone rich fearing losing their income.
Humans fear to lose their jobs to machines. Machines are reliable, work 24/7 and ROI is way better compared to a human. So, of course, there is fear of something new, but we humans are able to adapt to new situations. Banks will use cryptos or slowly die.
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!
Although we are thinking that it is a turning moment for the banks because of the rise of bitcoin, they always taking up a plan to be able to get along with the technology innovation of the current currency and put it into upgrade in terms of cryptocurrency. They will surely hold into consumers demands so they will start operating the usage of bitcoin so they will be not afraid of loosing customers. They called on people not to get involved. Should we be afraid or the banks are!
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 they do not fear it. Because as much as possible there is no competency built between banks and cryptocurrencies. Because crytpo currency is now the evolution of the usual currency. Even though bitcoin is now leading its way to the peak and gaining massive users, it is not an alarming situation for the banks. They can be surely adopt and evolve their operational services by also offering bitcoin service to get into consumers demands. They called on people not to get involved. Should we be afraid or the banks are!
Neither are they afraid of cryptocurrencies nor should we.
On one hand banks are right that cryptocurrencies are dangerous as there are lot of scams going on and most of the coins are shit and dead. People usually forget that cryptocurrencies are not only top 10 or 50. There are tons of out there which are mere scams. We should be cautious in choosing the currencies and for safe trading stay in top 10-20.
Now comes the bank. Being a centralized institution, it is natural of them warning people of Decentralised currency. Before Bitcoin it wasn't even believable that there would be any decentralised currency. Banks had a hard time digesting that. Earlier they used to mock the concept but now with ever increasing market cap , they have very well understood the reality and in future we would see them incorporating cryptocurrency in their system because crypto assets bring a value proposition that can't be ignored. Already started by private bank in Switzerland (Falcon Group).
Neither can bank eliminate cryptocurrencies nor can cryptocurrencies eliminate banks from financial landscape. They both will coexist as they both cater to different needs.
On one hand banks are right that cryptocurrencies are dangerous as there are lot of scams going on and most of the coins are shit and dead. People usually forget that cryptocurrencies are not only top 10 or 50. There are tons of out there which are mere scams. We should be cautious in choosing the currencies and for safe trading stay in top 10-20.
Now comes the bank. Being a centralized institution, it is natural of them warning people of Decentralised currency. Before Bitcoin it wasn't even believable that there would be any decentralised currency. Banks had a hard time digesting that. Earlier they used to mock the concept but now with ever increasing market cap , they have very well understood the reality and in future we would see them incorporating cryptocurrency in their system because crypto assets bring a value proposition that can't be ignored. Already started by private bank in Switzerland (Falcon Group).
Neither can bank eliminate cryptocurrencies nor can cryptocurrencies eliminate banks from financial landscape. They both will coexist as they both cater to different needs.
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, now some of the bank is looking a way to take advantage of crypto currencies
I think they are over this phase. They don't fear cryptocurrencies anymore, they have decided to take the advantage out of it. They know cryptocurrencies will not and can't replace the fiat but will become the part of financial world and they can't avoid it anymore. Since their primaraly goal is profit they will take their part of this cake for themselves.
So don't be surprised when in near future they offer cryptocurrencies related services.
So don't be surprised when in near future they offer cryptocurrencies related services.
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