Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 20. (Read 5220 times)
Even though the blockchain based cryptocurrencies like Bitcoin will gain a mainstream position in the fund transfer industry, it won't directly hit the revenue of the banks so there is a time for the banks to transform themselves and their infrastructure to provide better or at least equal service to their customers in order to survive in the market. I do see the companies like Ripple will gain popularity in this particular section to help banks in order to adopt the transformation.
Of course they would feel threatened. For many years they were the sold and solid institute where people seek financial assistance and security. Bitcoin cannot be manipulated by them thus could destroy their industry.
Because the bitcoin is future currency. if this bitcoin will grow more and much higher value. the people will start to transfer their account to bitcoin and bitcoin don't have tax and your money make double. not like bank need time to go to the bank. even bigger amount as long as you have an account no problem.
Yes bitcoin is more better system to sending the values around the world than use fiat money (remittance business with bitcoin) i think the big Banks are nervous because of bitcoin right now is about remittance business, the people around the world right now can be easy addoption the bitcoin because transaction of bitcoin is more easy, cheap, fast and there are no limited amount of transaction in the bitcoin, we have full control of the money than transaction use the 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
if the more people are using crypto and bank will be losing a lot of customers.
Banks are nervous about bitcoin because it may cause to them into falling or bankrupt , Bitcoin. Is more interesting in investing while banks just doing an saving .
There are many reasons for big banks to worry about bitcoins as well as crypto markets. As the evolving economy grows, fewer people put money in banks instead of investing in crypto or real estate.
This is more like the evolution of money and the way we spend. When everyone can just keep their funds in their wallet without the third party involved, then what would be the essence of keeping money in the bank.The truth though is that banks will still be relevant for a while except for quite a huge number of learned people in the population pulling out their funds from the bank and switching to cryptocurrency instead. That would really mean a lot since most of the working class and some of the elites are the one making most use of the banks anyway.
The reason is known to everyone. No govt. want to lose the control over the economy and banks being an instrument of Govt. to regulate the currency and economy do not want to lose the game. But people all around the world are liking BTC and adopting it as a transaction mode. It would be interesting to see how govts react in this situation, will they adopt exchanges as a competition against bank to control the crypto market!!! I think that might be mak=jor reason why banks are getting nervous now a days.
Because the bitcoin is future currency. if this bitcoin will grow more and much higher value. the people will start to transfer their account to bitcoin and bitcoin don't have tax and your money make double. not like bank need time to go to the bank. even bigger amount as long as you have an account no problem.
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 are afraid of bitcoin trade. because the bitcoin removes the gains the banks have earned for the benefit of the user. you can easily make big money transfers with bitcoin. the costs and procedures for these money transfers made with the bank are much higher. This is the reason that the banks are nervous.
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 are afraid of cryptocurrency,because in spite of decentralized and its value much higher than their interest ,depositors in a bank will be less and change to digital currency.For now bitcoin become more popular and investors want to invest in bitcoin rather than banks now.It is a better currency for us because in charges the added a small fee in a bank they always charges a higher fees so thats why many depositors want to go on bitcoin ,banks will die sooner or later.
Depositors are really getting lesser by the day most especially for developed countries that have huge access to technology and the citizens are tech related.Banks have always enslaved us right from the start and the fact that people are beginning to experience the huge freedom they should have been experiencing all these while in bitcoin, that makes bank to suck the more and why would they not be nervous ?
Banks do not want to lose their profits, because they see in the crypto-currencies of competitors. People prefer to invest not in gold or bank deposits, but in bitcoin, so the profits of banks fall. This is the cause of their anxiety.
Even gold investors are trying to pull out a little bit now.Bitcoin and cryptocurrency is getting extremely interesting daily and we can all see that. As long as they keep seeing the fact that bitcoin is gaining more ground, they will keep being threatened by it.
One thing for sure though is that fiats won't be discarded any moment from now, but we really cannot say what is going to end up happening later on in the future.
Bitcoin simply challenges the traditional system of fiat transacations directly. Banks since their inception have been working with more of centralized approach by creating new money with every transactions. Bitcoin on the other hand would not allow them to do so as its shows utter transparency.
For example: If you have certain fiat in your account the bank says that you have it in your account. But is their any physical memory location where you can go and check such some of money? They are just numbers. Whereas bitcoin has this idea of a specific block holding your coins. So you can even check this virtual memory location for your block.
This is the main reason which makes banks nervous about bitcoins.
For example: If you have certain fiat in your account the bank says that you have it in your account. But is their any physical memory location where you can go and check such some of money? They are just numbers. Whereas bitcoin has this idea of a specific block holding your coins. So you can even check this virtual memory location for your block.
This is the main reason which makes banks nervous about bitcoins.
Maybe BITCOIN DEFEATED the BIG BANKS and maybe BITCOINS became most popular in the world and more good currency.
I think bitcoin and banks don't have much competition among them they are two absolutely unrelated things. Competition is between fiat and bitcoin. Banks merely act as agents of fiats. 
There are many reasons for big banks to worry about bitcoins as well as crypto markets. As the evolving economy grows, fewer people put money in banks instead of investing in crypto or real estate.
Banks are afraid of cryptocurrency,because in spite of decentralized and its value much higher than their interest ,depositors in a bank will be less and change to digital currency.For now bitcoin become more popular and investors want to invest in bitcoin rather than banks now.It is a better currency for us because in charges the added a small fee in a bank they always charges a higher fees so thats why many depositors want to go on bitcoin ,banks will die sooner or later.
Maybe BITCOIN DEFEATED the BIG BANKS and maybe BITCOINS became most popular in the world and more good currency.
Banks do not want to lose their profits, because they see in the crypto-currencies of competitors. People prefer to invest not in gold or bank deposits, but in bitcoin, so the profits of banks fall. This is the cause of their anxiety.
It's been clear that lot of banks around the globe has been facing a major loss. Now the same along with more other altcoins continue to overcome the usage of banking services. Some banking companies have come with plans of adopting the technology and some has been planning to use bitcoin along with their services. This makes banks nervous about the growth of bitcoin.
The most basic reason behind all this is that all the crypto currencies which are there in this world are gaining lot of reputation with each passing day and this is promoting the usage of digital currency. This is having a sever effect on the usage of paper money as more people are now using crypto currencies for their daily use. This is really an alarming thing for the banks as their market is going down. 
People still believe in banks. Eventhough bitcoins existence tend to lower the bank transactions. I believe that they are not nervous or afraid of the existence of bitcoin. This is a great opportunity for them to gain more market because some of the encashment of bitcoin is available in banks. In buYing bitcoins, some banks can also provide that to the people (maybe with much higher cost). Its just a huge and take situation for the both party. The thing that banks doesnt like is that some of the transactions involving bitcoins is that the third party or middleman (which is the banks) is being "out of place". There are so many application there that can be use for direct payment in some merchant.
this is actually just a matter of Business,
big Banks realize if Bitcoin or Blockchain is growing and in interest then their business will be destroyed and less compete with Bitcoin,
so from that, they make a statement of bad statement about Bitcoin, this is my opinion ...
big Banks realize if Bitcoin or Blockchain is growing and in interest then their business will be destroyed and less compete with Bitcoin,
so from that, they make a statement of bad statement about Bitcoin, this is my opinion ...
Jump to: