Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 6. (Read 5208 times)

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 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 think because most banks have partnered with Bitcoin to use Blockchain technology. So when Bitcoin prices fall, banks will be equally affected. So all the fluctuations in Bitcoin make the banks worry. That is my thoughts on this event.

I think because of bank afraid that every person in the world will not use their services again. The blockchain technology can solve the internal banking problems. That's why several banks so nervous about Bitcoin and Blockchain technology.

Banks and the government both nervous in bitcoin, because for the first time ever they're not leading the money game.

I think because of bank afraid that every person in the world will not use their services again. The blockchain technology can solve the internal banking problems. That's why several banks so nervous about Bitcoin and Blockchain technology.

Bitcoin poses a threat to the very existence of banks. Bitcoin completes the financial transactions without the involvement of the intermediaries. This means that we do not need the intermediaries which are “the banks”. Bitcoin is also decentralized which does not need any central authority to control it. So, government can lose their control over the financial system of the country as the governments excise control over it through central banks.

In reality, the threat is exaggerated. I do not see that the cryptocurrencies can ruin fiat or the system of the banks. There is no one reason to be afraid of the crypto.