Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 2. (Read 5220 times)
The reason is very simple.It lies on the surface.If all people understand that bitcoin and its technologies are more profitable to use than a traditional Bank, then over time, no one will use the services of the Bank and they will simply close.That's all
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.
Banks are not nervous but they are worrying about the growth of cryptocurrency since it was more profitable more than placing their money on the banks rather than and set it to time deposit.
It's a whole new system that is very different from the banking system. Also, they're worried because because BTC influences economics in a kinda unpredictable way.
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.
Bitcoin is introduce into the market as a money transaction tool. Many banks dislike bitcoin improvements and progress because bitcoin profits produce troubles for many banks and also for bitcoin their profits are decrease. Many government ban it in their country because bitcoin affects their national bank profits. Bitcoin provide their uses an high level of security and privacy. In order to complete a transaction through bitcoin their is no need of any identity proof of sender or receiver and no third party involved and because of its its transactions are faster then that of banks and also charge low transaction cost. And bitcoin also use for international money transaction and these advantages of bitcoin create problems for banks.
The only reason for the banks' biased approach is that they think they will get out of the way after a point. This is very clear to explain. In fact, at this point they should fall into this system.
Actually these big banks secretly invest and participate in manipulation with Bitcoin prices, like market makers. That's why they create positive and negative news and rumors, try to influence the mood of other investors and thus earn on it.
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
Yes. Big banks are very nervous about bitcoin. Because of bitcoin, they are losing many international transaction fees. That's why they attacking to the bitcoin market.
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
Because Bitcoin has the ability to get rid of the bank, banks prefer not to accept bitcoin by telling the government that it will affect the economy of the country.
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.
In my opinion, the banks are just scared of loosing investments and deposits from customers which they in turn lone out at huge interest rates on pay back.
Yeah it is big fear of all banks because now they know people have better option than us so they are afraid to be ignore and they know it well that in near future all investors will only invest in bitcoin, as it is the best choice for us, no offence for using it and no offence for dealing, I am sure soon the price will rise high so they are afraid and it is true that investing in bank has almost zero profit as compare to investing in crypto currency.
Traditional Banks are still afraid that the BTC status will affect the status of Banks. If bitcoin is really the standard currency, it will definitely have an impact on the banking industry.
In my opinion, the banks are just scared of loosing investments and deposits from customers which they in turn lone out at huge interest rates on pay back.
Actually not only Banks, any large organization will try to suppress everything that it hurts to damage their work, and the crypto currency is very much threatening the banking system. But when they see opportunity in these area, they will accept it sooner or later. Just have good faith and keep the good work.
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
banks will no longer be useful if bitcoin is increasingly used by people to invest their money. not interested anymore to save money in the bank, and better put their money into bitcoin. of course the bank will lose several opportunities to get interest from customers.
Central banks are worried because of their businesses which are affecting by the disruption causes by cryptocurrencies if it comes closer. Now there are many countries where the Bitcoin and other cryptocurrencies are using on large scale as their governments have made a special proper system for it living with banks due to which many other countries are following their systems to make the survival of both which are contributing to economy.
because the peer to peer bitcoin system will be able to compete with the Bank, this peer to peer system is considered more profitable because the transaction does not require a third party to control and monitor transactions. In addition, with this transaction system also only spend a little cost even free and fast. Of course, if the Bitcoin trend grows then the Bank will lose its place in the community.
Many banks are not ready with bitcoin decentralization from blockchain technology to supporting infrastructure for crypto so they are afraid to accept. centralized banks will be very difficult to accept decentralized bitcoins, this is very contrary. therapy when banks can accept blockchain technology I think they will be amazed and very profitable dibanidng their current technology
"Bitcoin is a currency that can not be regulated by any central bank" is what causes many central banks in the country trying to reject the current decentralization bitcoin. cryptocurrency is unruly and they are very afraid of big inflation when many cryptocurrencies are easy to play, especially for developing countries that are very vulnerable to inflation
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