Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 10. (Read 5220 times)
Big banks are so nervous about bitcoin, because they thought that bitcoin will be there great competetor of the financial investment, we already know that in bitcoin investment is risky but to the point that it has better profits compare to bank, that is why the bank are so worried about bitcoin because they might lost so many clients because of this profit comparison.
Blockchain's technology is really futuristic that banks too are implementing its technology in their system and reading its effects. I do know a state bank in my country which is implementing blockchain's technology for its functioning. Something which is futuristic will take over what is available at present so every bank should fear.
Bitcoin afraid by banks or central banks because bitcoin disrupting banks bussiness. Imagine if peoples using bitcoin for transaction thats mean fiat money will useless and not worth anymore.
Beside that, central bank afraid on bitcoin or cryptocurrency because they can not control the supply and the value
Beside that, central bank afraid on bitcoin or cryptocurrency because they can not control the supply and the value
Big banks are worried about bitcoin as they are afraid of losing control over their current cash flow and, for example, the trend of bitcoin secures lending or direct transactions without the need for banks. Banks lose their income from intermediary transactions
The big reason is that one of the goals of the BTC is to be the new currency of the digital age. Although now applicable scope is very few, but in some areas, BTC payment has been accepted, and due to the transaction attribute BTC itself, and value-added potential of space, but also by a new generation of investors.
This is no doubt a bad sign for Banks, which seem to be worried about losing their future.
This is no doubt a bad sign for Banks, which seem to be worried about losing their future.
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
Banking business are losing their income if Bitcoin are permanently operated in the entire country because there will be a Bitcoin machine provided in all respective areas for all user of Bitcoin so Fiat money someday are useless and I think Central Bank of the Philippines here my country should be cooperated when the time Bitcoin is also Primary use for all Filipinos.
Banks are nervous because they lose market and are always looking to participate to achieve their intermediation in the market and achieve their share.
maybe they consider bitcoin, If bitcoin or other cryptocurrency is widely applied, the whole banking system can become irrelevant. but it is in accordance with my knowledge contained in the article.
There is no point of denying this fact that all the crypto currencies are the biggest threat to the existing banking systems as with every passing day, more number of the people are withdrawing their money from the banks and that they are investing that money into different crypto currencies as they think of this to be more beneficial which is seriously affecting the reputation of the banking system.maybe they consider bitcoin, If bitcoin or other cryptocurrency is widely applied, the whole banking system can become irrelevant. but it is in accordance with my knowledge contained in the article.
There is no point of denying this fact that all the crypto currencies are the biggest threat to the existing banking systems as with every passing day, more number of the people are withdrawing their money from the banks and that they are investing that money into different crypto currencies as they think of this to be more beneficial which is seriously affecting the reputation of the banking system. One of the reasons that is frightening is that banks are afraid of the bitcoin competition and in the end they ask the government to ban bitcoin in the country. So that the bank can still be used in that country.
I don't think there will be any competition between bitcoin and bank, whereas both have different functions? bank is a place to save money and bitcoin is currency, besides both also can cooperate? the bank may accept bitcoin as a deposit and withdraw option, it's just about time for that to happen, the bank is not that afraid about bitcoin #imo 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
If the big banks are so nervous about bitcoin, I think It is normal. Because Bitcoin is so popular, It is very Profitable. Many investor will invest their money in bitcoin.
Sure, the economics has started a long tim ebefore the money hasn't been shaved. Banks exists only for let some people who has more money to hold their savings, they just put it in for protecting.
maybe they consider bitcoin, If bitcoin or other cryptocurrency is widely applied, the whole banking system can become irrelevant. but it is in accordance with my knowledge contained in the article.
Yes if bitcoin develop all over the world the usage of banks will reduced a lot that's why they got a fear of the bitcoin development so I think bitcoin worth for that.
maybe they consider bitcoin, If bitcoin or other cryptocurrency is widely applied, the whole banking system can become irrelevant. but it is in accordance with my knowledge contained in the article.
One of the reasons that is frightening is that banks are afraid of the bitcoin competition and in the end they ask the government to ban bitcoin in the country. So that the bank can still be used in that country.
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
Why Big banks are so nervous about bitcoin because many investor will invest their money to crypto. It is the reason.
in fact major bank banks are not worried about bitcoin. they just want to take part in the big crypto market with the aim of taking advantage for themselves.
Because once bitcoin and cryptos will step on the spotlight, banks will surely get nothing from charges they usually get on every transaction made on their banks like money transfer to cross border or country. You can think of it like what eMail did to the postal business in the advent of technology.
Big banks will be really nervous and worried in connection with the rising global acceptance of bitcoin. They fear that bitcoin is decentralized and people want it. Banks consider bitcoin as their rival and have become the bankers' worst nightmare.
because if I think big banks are afraid of the bitcoin is that they are afraid that people who often invest in their bank is on the run to move bitcoin, because bitcoin is a very good investment place and promises really for the profit that will be in
Big banks will be really nervous about the rising global acceptance of bitcoin. They worry that bitcoin is decentralized and people want it. Bitcoin as a virtual currency that does not require a third party for the transaction is very meaningful to the bankers, in the end these bankers will lose their jobs in the next few years.
Because once bitcoin and cryptos will step on the spotlight, banks will surely get nothing from charges they usually get on every transaction made on their banks like money transfer to cross border or country. You can think of it like what eMail did to the postal business in the advent of technology.
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