Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 4. (Read 5208 times)
They are afraid to bitcoin because it is decentralized, there are no organization, institution or government that can control the bitcoin. There are many professionals saying that the bitcoin is threat for banking system.
Banks are nervous, because, see how bitcoin is introduced in various trades and will replace the same banks, and they are not profitable for them....
I really think the same way that the banks will get replaced by the bitcoin and that is because investing and putting money in banks are not profitable and it is more profitable to put money in bitcoin even though it is a high risk type of investment because of the volatility but every risk is worth it because you can earn a lot by it.
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.
Banks are nervous, because, see how bitcoin is introduced in various trades and will replace the same banks, and they are not profitable for them....
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.
For me it is obvious because they are thinking thatcryptocurrency can replace the existing economic system and banks will have no more place in that system, so I will be worried also at their place.Try to convince these people that competition is always great. The banking system is the greatest enemy of the cryptocurrency. banks are scared to lose their rich clients which can start using BTC and alts.
Anyway they need to approve cryptoes because it is innevitably will be our brigth future!
Some countries that are afraid and nervous about BTC have banned BTC!
The banks in the country that are open to BTC are changing, adapting to the development of blockchain and accelerating the digital transformation of banks!
The banks in the country that are open to BTC are changing, adapting to the development of blockchain and accelerating the digital transformation of 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
It is because bitcoin or other cryptocurrencies are illegal and dont have taxes. It means that if the user or investor have a big income or profit, then they will withdraw it from the bank. So that their bitcoin turn into a real money. The banks fear bitcoin because their money will turn into zero because of bitcoin users will withdraw a huge amount of money. We all know that banks have interests in you bank account or saving. And that is the one way they profit. Bitcoin is the greatest thing that you will have.
Cryptocurrency is a threat to the banks because some of the banks in other countries might be shutting down due to lack of people who are going to place their money on banks since crytpocurrency is obviously more profitable.
Because there are so many people who are now using Bitcoin and maybe soon people would stop using banks because of the cryptocurrencies,
If the crypto currencies continues to grow I think we would soon be a cashless society and the banks could be ignored because of it.
That could also happen.If the crypto currencies continues to grow I think we would soon be a cashless society and the banks could be ignored because of it.
There are a lot of people who are using Bitcoin and soon people will stop using the bank for electronic money,
If electronic money continues to grow, I think we will soon become a non-cash society and banks may be overlooked.
This shows that the country is certainly developing, not using cash to reduce the cost of natural resources. I think so.
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.
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.
For me it is obvious because they are thinking thatcryptocurrency can replace the existing economic system and banks will have no more place in that system, so I will be worried also at their place.
It is because bitcoin or other cryptocurrencies are illegal and dont have taxes. It means that if the user or investor have a big income or profit, then they will withdraw it from the bank. So that their bitcoin turn into a real money. The banks fear bitcoin because their money will turn into zero because of bitcoin users will withdraw a huge amount of money. We all know that banks have interests in you bank account or saving. And that is the one way they profit. Bitcoin is the greatest thing that you will have.
Since fiat money is controlled by banks and government, people are in difficult stage to use their hard earned money according to their own wish the transaction of fiat money cost too much that the ordinary man cannot afford and it takes more time to reach the destiny .In Bitcoin transaction no such difficulties occurs it can be transacted with ease and low fees. Bitcoin is a decentralized and fiat currency is a centralized one so the banks or government interfere in it Bitcoin is an online peer to peer payment ,so the Banks fear if Bitcoin is accepted world wide the banks may come to an end .
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 there are so many people who are now using Bitcoin and maybe soon people would stop using banks because of the cryptocurrencies,
If the crypto currencies continues to grow I think we would soon be a cashless society and the banks could be ignored because of it.
If the crypto currencies continues to grow I think we would soon be a cashless society and the banks could be ignored because of it.
To large banks, bitcoin is competing and simultaneously withdraws a part of the clients. But on the other hand, banks will always have customers who adhere to conservative views. Also in the bitcoin area there are a lot of risks of capital loss, and in banks this risk is less, as there are guaranteed amounts of money refunds.
And banks initially underestimated bitcoin and now are trying to survive with all their might from their territory, but they can not do it because they do not know how.
Big banks are so nervous about bitcoin because of competition on investment. Well banks are wise and has a lot of resources especialy if it is about it's competitors. Before banks even don't know about bitcoin but because of its popularity and some of the investors go thru the crypto currencies like bitcoin that was the time they knew about it. Crypto currencies can replace banks in my opinion but I guess that it will take a very long to happen. And that chance I guess is also one of the many reasons why banks are nervous about bitcoin.
Certainly, they used to get the money from their clients (a lot of big money), and now, these people are ready to pay for the cryptocurrency. The banks lose a lot.
Bitcoin decentralization, popular outside the government, is not controlled by the government, and disrupts the government's financial rights.
Banks are not afraid of bitcoin, but are facing the development of new things, because there is no clear regulatory system yet!
Banks are not afraid of bitcoin, but are facing the development of new things, because there is no clear regulatory system yet!
Basically and honestly, banks are afraid and also threatened to the bitcoin because they see how bitcoin change the world of currency. Bitcoin brings more opportunities and fair service than banks. So banks are afraid that sooner or later bitcoin will be the new and indemand payment and monetary system. They are afraid to lose their popularity against bitcoin and lose their customers and investors too.
Jump to: