Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? (Read 5183 times)
Bitcoin - and other decentralised cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank. Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly. But as the financial crisis of 2008 proved, banks are not above abusing trust to line their own pockets.
Bitcoin it taking away the banks business obviously! As more popular Bitcoin becomes, the less popular payment via bank transfer become. Banks business is dropping very fast. If i was a bank, i would worry too
Bitcoin can disrupt banks bussiness. If people in the world using bitcoin, people will dont need banks as third party. Beside that, central banks can not control bitcoin supply and they can not print paper money as they like. I think thats why banks afraid on bitcoin
Basically, crypto currency could inevitably overthrow and replace fiat currency and that is why banks are so threatened. They didn't expect their clients to pull out their savings from their vaults only to invest it on crypto currency. I mean they didn't even see it coming that they would see BTC rise to a thousand, what more tens of thousands.
If more peoples using cryptocurrency for their transaction, banks will losing faith as third party. Cryptocurrency can disturbing banks bussiness because crypto transaction fee very cheap and very fast.
Bitcoin has created a myth. But this is only the beginning if Bitcoin can spread smoothly around the world. After the price of bitcoin reaches several hundred thousand dollars, the cryptocurrency will make the traditional currency disappear.
There are reasons for banks turning their back on the crypto market, especially Bitcoin. These banks want to destroy Bitcoin before it destroys them. The potential of bitcoin is enormous and the government or bank wants to take over as much as they want. Put simply, the rise of bitcoin can be a factor in creating stability rather than destabilizing the current financial system. But obviously, at the present time, big banks do not see things that way.
I'm not pretty sure but as we know bitcoin investments is more profitable than saving money in banks and I think banks are afraid in crypto cause there are a possibility that bitcoin could replace banks in the future and this is the reason why banks scared in bitcoin popularity today.
Banks are nervous about Bitcoin because they are afraid that it will spread fully in the world and the business of banks will get affected with it. Banks are under government and they also do not want to let the Bitcoin affect the banks because government has a great interest from banks. However crypto and banks as fiat currency can go together if countries learn and adopt a system which is is using in countries where the Bitcoin is going smoothly.
I'm not pretty sure but as we know bitcoin investments is more profitable than saving money in banks and I think banks are afraid in crypto cause there are a possibility that bitcoin could replace banks in the future and this is the reason why banks scared in bitcoin popularity today.
It is obvious in my opinion, becouse government and big old banks are affraid to loose their global influence at people 
The bitcoin is so popular and its advantage as an electronic currency such as security and fast money circulation, many people like middle investor are investing in bitcoin instead on the bank and in the coming few decades as the popularity of bitcoin arises then they will afraid that many high investors will investing to bitcoin. The big banks should create a new crypto too.
Bitcoin it taking away the banks business obviously! As more popular Bitcoin becomes, the less popular payment via bank transfer become. Banks business is dropping very fast. If i was a bank, i would worry too
I think it also affect the fact that we was encouraged to used and be inbolve in Bitcoin than in those banks that offers indeed a huge amount of investment but truly low price of interest. They didn't see it coming, that a simple currency before was the main way that numerous people nowadays earn better.
Basically, crypto currency could inevitably overthrow and replace fiat currency and that is why banks are so threatened. They didn't expect their clients to pull out their savings from their vaults only to invest it on crypto currency. I mean they didn't even see it coming that they would see BTC rise to a thousand, what more tens of thousands.
A digital money is already use in many countries. And bitcoin is one of it. Banks are nervous about bitcoin because they are afraid that people will prefer to use and invest on it rather than banks because it was profitable and advantageous. And also bitcoin’s popularity are increasing so that some people are attracted to it. People can also earn from it without leaving their personal information.
I think because they are afraid of losing their important position in today's society. Banks are known for their convenience in transferring money and keeping customers at low interest rates. But now, Crypto has done better than them and that has worried them.
I do not think they would be too worried about Bitcoin. I think they will find ways to partner with some altcoins to enhance their money trading services. I think the Blockchain technology will soon be applied in banks.
There was a time where Bitcoin was not even on the radar, it was a novel idea that was primarily used by thieves and drug dealers on the dark web. Nothing to be afraid of in terms of holding a monopoly on money.
However, that same little upstart is now disrupting the system of things; from Bitcoin and other cryptocurrencies, ICOs and the ever impressive Blockchain technology. This is now a legitimate threat on traditional banks.
Banks have existed unchallenged for hundreds of years, and that is the key issue here; Bitcoin, backed by a solid platform such as Blockchain technology, is a ghost that is incredibly hard to control due to its decentralized nature.
The power and control of money is being ripped away from traditional institutions, which can also be seen on Wall Street. Some of these traditional investors are siding with what could be the future, while others vehemently denounce it.
Individuals can now enter into direct peer-to-peer trusted exchanges with strangers. They no longer need a central institution to vouch for the other party.
Just like the fax machine, the library, even metered taxis, new technologies have come along and made others obsolete. Banks are now in the sights of Bitcoin and are in their death throws, as they lash out with the power of states behind them.
However, there’s no stopping progress, and even with state-backed regulations trying to wrestle the money of the people under control, banks have every reason to be nervous.
Full news https://www.cointelegraph.com/news/why-big-banks-are-so-nervous-about-bitcoin
Bitcoin has a feature of store of value hence bankers are nervous and afraid that bitcoin is taking its role in the financial institutions it will get to a time where people will exchange their fiat to a digital currency and stored or hodled in wallet and having no reason to save in bank this action is gonna spell doom to the bankers.
They are afraid because crypto is making orthodox economics shaky because its technologies is far more consistent and potentially usable.
investor interest in the digital currency is getting stronger when compared with the banking sector is completely opaque. digital currency can be a good tool to hedge your investment value against inflation risk. Bitcoin may be a threat to the easy money bank, but it does not pose an existential threat to the system,
They worry that Bitcoin is taking on the banks. Regulators are trying to play catch up with Bitcoin and other cryptocurrencies, and realising now that it’s not going away. In fact, it is challenging their monetary system which is intrinsically linked to banks, and especially central government-backed banks.
I think the Bank is definitely not needed when making people-to-person transactions, especially cross-border. Big Banks was very nervous about Bitcoin because BTC appeared to split third parties.
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