Topic: How do banks feel about crypto - page 3. (Read 980 times)
The chief of one Russian bank have said that they would be have to find new way or they would be closed because of the growing popularity of crypto.
In general bank are the middleman, and cryptocurrency seeks to eliminate the middleman to drive down costs and less centralization. Banks hate crypto.
I don't think banks will be thinking about the bitcoin or any altcoin that's present on the earth. Why would they even care about it if they have well regulated banking system and financial institutions. It doesn't affect the fiat system at all, because in the end every coin has to be traded in the form of fiat. So practically speaking banks will get their money back in the end. It's completely circulating system
on one hand cryptocurrencies have the potential of replacing banks. and put them out of business so it is understandable if banks may be a little uneasy about them.
on the other other, cryptocurrencies in general which means altcoins are a joke. they are not even remotely close to that goal so banks have nothing to fear. as far as bitcoin goes, it also is far behind that adoption despite all adoption it had so far!
also bitcoin being adopted or any other future altcoins, is not the end of banks they will still exist with fiat and they can even add crypto options to their services and continue being alive that way.
on the other other, cryptocurrencies in general which means altcoins are a joke. they are not even remotely close to that goal so banks have nothing to fear. as far as bitcoin goes, it also is far behind that adoption despite all adoption it had so far!
also bitcoin being adopted or any other future altcoins, is not the end of banks they will still exist with fiat and they can even add crypto options to their services and continue being alive that way.
Well surely they don't like the idea of money flowing without their control. They are probably seeing crypto as enemy but i'm sure some smart Banks will see the potential of crypto and will try to side with it.
I am pretty sure that they hate crypto into guts. But they can't really deny blockchain technology. So its going to pretty much common that some banks will release their own altcoins are gonna use coins like ripple.
Banks are threatened with crypto currency. That is why, in my opinion based on what Ive read, they are manipulating the cost of bitcoin.
The banks is now being challenged by the advancement of crypto which look like the way for the future. They have to buy into the Blockchain tech to remain relevant.
full member
Activity: 252
Merit: 104
Decentralized Ecosystem for User-Generated Content
I think they are threatened by everything bitcoin is. As a result you hear a lot of FUD coming from that direction. But I think it is clear what is going to happen in the end. If you cant
beat em then...
beat em then...
Now, as a serious correction, I think that a new wave of asset growth should start now
Crypto is bank's Worst nightmare, who will think of saving with bank again when you can safe ur money in a good crypto project and earn huge rewards far better than the pennies banks give
I don't think banks and governments like cryptocurrencies. They want to control all the transactions. With existence of cryptocurrencies banks lose their profits.
Sincerely banks do not like crypto, they see crypto as their enemy in modern world
What do you guys expect for crypto future? It is clear that crypto is growing and won't stop any time soon as it gets more recognised and user friendly. Governments and banks want to have control over the money as they can control prices, taxes, activity, take advantages and a lot more. Here comes the crypto with baby steps starts to real recognition as it has grown quite big in the recent time.
Now you have China blocking ICO and jumping on bitcoin exchanges, CEO of JPMorgan making comments, here is US with IRS and they also feel left out. It is clear that they are losing side as they are being left out of taxes, feed and control. There was many statements that crypto technology should be government crontrolled (actually centralized) because of "scam".
Ok in one hand there is bunch of ICO scam coins without any technology or idea but just making owners rich. It is true that some investors lose to make others rich but then again that is natural in any trading. But let's be serious no government or businessman give a shit about who is getting scammed because they look for themselves. So looking on it It is clear that banks, giants and some governments are worried about it.
Now you have China blocking ICO and jumping on bitcoin exchanges, CEO of JPMorgan making comments, here is US with IRS and they also feel left out. It is clear that they are losing side as they are being left out of taxes, feed and control. There was many statements that crypto technology should be government crontrolled (actually centralized) because of "scam".
Ok in one hand there is bunch of ICO scam coins without any technology or idea but just making owners rich. It is true that some investors lose to make others rich but then again that is natural in any trading. But let's be serious no government or businessman give a shit about who is getting scammed because they look for themselves. So looking on it It is clear that banks, giants and some governments are worried about it.
Jump to: