Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 13. (Read 5220 times)
because of after decentralization we do not need bank and they will loss your market.. we do not need banks for money transfer.. it is perfect for us
Bankers, of course, will be nervous. Crypto currency provides an almost completely independent alternative system, competing with banks. Crypto-currency takes away a part of their clients from banks and bankers suffer losses, or, rather, their profit decreases. This explains the comparatively sharp negative attitude of them to the crypto currency. In addition, banks have made a different and more conservative approach to money. The Crypto currency completely changes the attitude to the essence of money and their ability to use between people for transmission over long distances without the intervention of a third party. Bankers are aware that this gives people more financial freedom, so they are against the crypto currency.
Because the presence of bitcoin felt to get rid of the existence of the bank .. Why? It's all because transactions through bitcoin no longer require a third party, like a bank. That is why today many central banks are firmly denying the existence of bitcoin.
Even now the large volume transactions were happening through bitcoin. In this way it will easily attract the user community who has been using banking services. Another thing with the existence of bitcoin banks have faced a large profit loss and the technology too is highly appreciated which seems to be the cause for the fear of big banks.
Maybe they scared that there bank will be closed. If bitcoin will be known in the world. Because if think about it ita better to put your saving in bitcoin than a big bank. Because the interest of bitcoin if it will it can triple your profit in just 1 month or year. Thats how bitcoin powerful than bank.
Bitcoin can ultimately make the world banking system unnecessary. Banks system become more and more outdated with the years. I think this is their main concern.
Banks are nervous about bitcoin because they don't have benefits from bitcoin right now and as you can see we talking on bitcoin market worth $145,161,002,229. Everyday we are step closer to use bitcoin for daily payment and if that happen in future, we will not need a banks for transaction.
For me, big banks are not so nervous about bitcoin because they are the most trusted and most famous of all. Yes, bitcoin is now getting very expensive, and the community of it is growing, but even I have a bitcoin I still have a bank account because in our country there are only a few establishments that are accepting bitcoin as a payment or as real money. Also, banks are much legal and much trusted by many people. If bitcoin become legitimate and acceptable by many states, I think that is the time that you can say that banks are so nervous about bitcoin because we all know that bitcoin’s capability is superb compared to some banks.
I think that's not possible for real life. You should stop think that the world currency will end up by start of cryptocurrencies, that's not how ot suppose to be.
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.
Regulators are trying to play catch up with Bitcoin and other cryptocurrencies, 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.
Because in Banks, they ask a lot of requirements to their clients before putting their money in the bank. While, if people will do savings using
Bitcoin they can do it easily without giving any important documents compare into Banks. so, that's maybe one of the reason why some other
bank are nervous about it due to their client might get decide to full out their savings and transfer it into bitcoin because it is much safer than
any bank in my opinion only.
Bitcoin they can do it easily without giving any important documents compare into Banks. so, that's maybe one of the reason why some other
bank are nervous about it due to their client might get decide to full out their savings and transfer it into bitcoin because it is much safer than
any bank in my opinion only.
I think bans are nervous about bitcoin because more and more people are now using bitcoin. And more people are investing their money in bitcoin instead of depositing it in banks. Wherein we all know that banks are being alive because of peoples deposit or savings which they use to earn income.
Just simple thing i can say in this case, bitcoin price is getting higher, it make bitcoin popularity rank increase. That both are making the bank nervous. Why? Maybe more bank customer just take out money feom bank and start buying bitcoin.
You are still using this stolen Bitcointalk account.
Stop your BS posts and return it to it's rightful owner immediately!!!
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Go get your own!!!
Just because big part of existing and potential clients may be lost as a source of profit. And having competitor with cheaper service they will have to lower the fees for their services. That's way they support controlled Ripple.
Banks has no fear about bitcoin it's only the fake news that trigger the rivalry between this two because we all know that banks had already active since the beginning people are already familiar in having their transactions through banks so no need to worry about bitcoin.
Banks are primarily used for the sake of keeping your money safe and that to perform different kind of transactions. The survival of the banks is no doubt in danger and that the only reason behind that is all the crypto currencies can help the people in meeting all their needs and above all, it is also helping them in gaining more money because of the rise in the market value of the crypto coins.
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.
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
Staley’s rebuttal echoes that of Goldman Sachs’ CEO Lloyd Blankfein in January, who put an end to similar speculations that the New York bank would set up its own cryptocurrency trading desk. Goldman Sachs has - reportedly “inadvertently” - owned a stake in a Circle-owned crypto trading desk since 2015.
Bitcoin payments have been accepted, potential space for appreciation and a new generation of investors.
The fact that bitcoin and its transactions are not regulated at the moment, compared with Banks that are still heavily regulated by the government, has a strong competitive edge, which is what makes banking nervous.
The fact that bitcoin and its transactions are not regulated at the moment, compared with Banks that are still heavily regulated by the government, has a strong competitive edge, which is what makes banking nervous.
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