Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 18. (Read 5220 times)
In my opinion, the current trade in bitcoin is very fast, and we can transfer money from one country to another easily. And this has affected the bank. I think so.
They are now essentially joining the party. Their strategy now is to take control of it but I'm not really sure if they are now wanting to use it or just destroy it by manipulating the prices like a timed crash after a FUD.
Banks is for tangible cash and currencies while for bitcoin is for intangible. But if bitcoin will be use worldwide, banks would possibly fear this. Due to human beings can immediately invest, purchase and promote and earn without using any method. Just in a click, you can do this with any trouble of fill up varieties and transporting in banks. With all these improvements they would possibly concern that some of their biggest depositors are dropping activity in depositing their money to the bank if the inflation is quite low whereas placing money in crypto currency and bitcoins had a achievable of excessive achieve but the high hazard is additionally the huge factor of cryptocurrency as it is unstable and unpredictable.
Banks have something to be nervous about, because the crypto currency is getting stronger in our lives. After all, people stop referring to banks using the crypto currency for their financial settlements and from this, banks lose their profits. In addition, banks have already assessed the advantages of the crypto currency and the reliability of its blockchein technology and this also increases their anxiety, as their fears about the seriousness of the competitor, which is the crypto currency, are fully confirmed. Therefore, on the one hand, they, if possible, oppose the introduction of crypto currency, citing the riskiness of investing in it, and on the other hand, adopt its blockchein technology and themselves switch to the use of a crypto currency, such as ripple.
because bitcoin is the result of a very useful blockchain technology in the world economy. by utilizing blockchain technology all financial activities will be much easier, faster, accurate, safe and highly efficient than we transact financially through the bank. and this technology is much needed for investors to facilitate their financial activities.
Thank you for this article, it is informative and I have learned quite something.
Banks are afraid that cryptocurrency have the posibility to replace fiat to which they heavily rely on - managing fiat is their sole purpose and they would be nothing if it will be to regularized unless they adapt to the system and governments will impose them related to managing it or something.
Banks are afraid that cryptocurrency have the posibility to replace fiat to which they heavily rely on - managing fiat is their sole purpose and they would be nothing if it will be to regularized unless they adapt to the system and governments will impose them related to managing it or something.
I believe that the competition is always a good thing. Banking oligopolists don't believe that.
It will be interesting to observe the development of the situation around the legal status of crypto anymore. Now the world banks have realized that they can not ignore crypto. However, banks have not yet developed a strategy for working with bitcoin, they can not predict the consequences of its development. However, now they will have to make decisions to be able to survive in a new world.
If all the people adopt and use bitcoin, no wonder the banks will feel nervous about it because there will be no one who needs their service for savings account and for other transactions. Bitcoin is peer-to-peer cash system, where you can send funds directly to the person you are transacting with and you can save your money to an e-wallet.
Big Banks are so nervous about Bitcoin because BTC came about to disintermediate third parties. Banks are definitely unnecessary when making transactions person to person, especially across borders.
Thats true, and I think Big Banks were afraid nkt just because they wre being threatened by the fact that Bitcoin is better than them and it was widely used by the increasing number of people nowadays I think they see this as bad to their system in which people will better take risk than to invest to them in which the interest were very small, and for me thats the thing why they hate Bitcoin, the clients were probably go here than to them.
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
Most of them are really scared to lose a huge amount of investors in their business because people are preferring to invest on cryptocurrency today since every social media is advertising the price that catches the eyes of the community.
Big Banks are so nervous about Bitcoin because BTC came about to disintermediate third parties. Banks are definitely unnecessary when making transactions person to person, especially across borders.
You are correct! There may come a time when their clients will decrease or worst than that. In terms of investments, if blessed, bigger will be the gain in crypto world than in banks. Unlike in banks, even for a short period of time, there can be a bigger profit. 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
There are more people who are working on the corporate world and they are having a hard time earning money because the salary is very small so most of the people are placing their money on cryptocurrency in order to earn more profit and banks are losing their investors.
In my opinion, banks scare on bitcoin or cryptocurrency because its can disrupting banks bussiness. If bitcoin knowledge spread all around the world, people will demand central bank to open their ledger, because bitcoin have transparant ledger with blockchain. As we know, central banks always print paper money from thin air and spreading inflation to all around the world.
People should realize that bitcoin is revolutionary monetary system than can disrupt banking system
People should realize that bitcoin is revolutionary monetary system than can disrupt banking system
Big Banks are so nervous about Bitcoin because BTC came about to disintermediate third parties. Banks are definitely unnecessary when making transactions person to person, especially across borders.
Thats true, and I think Big Banks were afraid nkt just because they wre being threatened by the fact that Bitcoin is better than them and it was widely used by the increasing number of people nowadays I think they see this as bad to their system in which people will better take risk than to invest to them in which the interest were very small, and for me thats the thing why they hate Bitcoin, the clients were probably go here than to them.
Banks are nervous because bitcoin or other cryptocurrency is covering same transactions that they are servicing. Like using banks/ATM card to purchase products or services. Once merchants will widely accept bitcoin then banks small ticket transactions will disappear. Because bitcoin and the rest take smaall charges. Even remittances. Banks can only manage to follow if they also adopt themselves into blockchain platform and cryptocurrency.
It is difficult to say for sure but I think that banks either don't believe in the big potential of Bitcoin or they are afraid that in the nearest future Bitcoin will become the main currency. I guess that this is possible because this is really the currency of the 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
I thinks,bank will not getting nervous about bitcoins,because they already know,thats if this bitcoins will become legalize this is not there rival in terms of investment,unless this bitcoin is become partnership of the banks in terms of progressing economy of all
global community,as what i heard in news in our country that the central bank of the phil.will accept bitcoin as there partners in terms of business exchange.
I think it's because if people are often using Bitcoin so they will stop using fiats which was made by Banks so they're afraid Bitcoin will kill them.
They're becoming more aware of it potential to become hit and instead of investing to them they will choose Bitcoin because they see that people are expecting and, looking for more possible high interest and also it would be easy to transact with.
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