Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 8. (Read 5208 times)
They know that their business will be affected by growth of bitcoins. This is because one can easily transfer huge money using crypto with less fees.
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 about cryptocurrency and we all know that bitcoins is more profitable than fiat because the price in the market is continuously increasing and those who invest in bitcoins has the huge chance of becoming very wealthy in the future more than those who place their money on banks.
maybe they consider bitcoin, If bitcoin or other cryptocurrency is widely applied, the whole banking system can become irrelevant. but it is in accordance with my knowledge contained in the article.
There is no point of denying this fact that all the crypto currencies are the biggest threat to the existing banking systems as with every passing day, more number of the people are withdrawing their money from the banks and that they are investing that money into different crypto currencies as they think of this to be more beneficial which is seriously affecting the reputation of the banking system.Banks are nervous because they lose market and are always looking to participate to achieve their intermediation in the market and achieve their share.
They didn't care at first because it had no value.but now due to a popularity of a bitcoin and its advantage as an electronic currency such as security and fast money circulation, many people like middle investor are investing in bitcoin instead on the bank and in the coming few decades as the popularity of bitcoin arises the bank will be nervous.
Big banks and all of the banks are FIAT based company,
they are afraid of cryptocurrency especially BITCOIN as this will really affect their economy.
this is a big threat for them, if crypto will be the currency of the future.
they are afraid of cryptocurrency especially BITCOIN as this will really affect their economy.
this is a big threat for them, if crypto will be the currency of the future.
In my opinion, Banks have existed unchallenged for hundreds of years, and that is the key issue here. On the other hand, Bitcoin is backed by a solid platform such as Blockchain technology which is a ghost that is incredibly hard to control due to its decentralized nature.
this happens because bitcoin uses blockchain technology, which is able to overcome the main problems of customers ie financial or nonfinancial transactions. so the bank is afraid of losing customers and fear if the customer will withdraw the money then switch to bitcoin for investment.
Huge banks are so apprehensive about Bitcoin on the grounds that it might be a danger to monetary steadiness as they increase more extensive utilize. Bitcoin is utilize and is being grasped by some organization with plans to offer exchanging the money's prospects, which is drawing premium and some worry from controllers.
They worry that Bitcoin is taking on the banks. Regulators are trying to play catch up with Bitcoin and other cryptocurrencies, and realising now that it’s not going away. In fact, it is challenging their monetary system which is intrinsically linked to banks, and especially central government-backed banks.
For me this is another insurance about the bright future of Bitcoin, that it would be something great in future!
No ..not the bigbanks.
And I think small capitals banks are worried because cryptocurrencies can still operate without any helps of banks. And this is the threat why they are afraid on the popularity of btc right now. That's why they created some groups who spreading false news about BTC. They are making black propaganda.
Banks are with new innovations but they are still going down and all its strength has reduced by the evolution and disruption in the market, this disruption brought by the Bitcoin and then other crypto coins. As far as Bitcoin goes the strength of banks will be reducing but will not collapse as banks are also a part of life and play its role which is also necessary. The only reason for the nervousness is the popularity of crypto market and especially the Bitcoin. And I think small capitals banks are worried because cryptocurrencies can still operate without any helps of banks. And this is the threat why they are afraid on the popularity of btc right now. That's why they created some groups who spreading false news about BTC. They are making black propaganda.
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 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.
They are afraid of bitcoin because of the fact that number of people is getting large, and people engage cryptocurrency don't need a bank, in a traditional way people use bank as money storage, but now is different, because cryptocurrency has its own wallet and bank might lost there profit.
Basically banks will got nervous about the rapid growth of bitcoin profit. Shocking but we all know the truth that bitcoin is not own by government while banks are own by government. Whatsoever the laws of the country there should have a big relation to banks with bitcoin to its territory. Or maybe those people got sick because of too much drinking of coffee. It should be stop immediately if coffee couldn't help you to focus your mind and fix it until everything is alright by people with banks with crypto.
I think the big banks are afraid that bitcoin will replace them, because bitcoin is really thriving on features as well as profitability.
Can be said the bank is afraid of being replaced with bitcoin. Probably because bitcoin is more promising and many are investing dibitcoin, and banks see that if investment in btc without interest. Maybe that's the main reason.
This could be sometimes, banks have the fear on relying bitcoins. Sometimes, profit or income coming from bitcoin sometimes comes from gambling or in illegal use. We see that bitcoin doesnt have yet security for which we cannot see whether it is illegal or not, we cannot assure that bitcoins are in illegal way. We know that bitcoin is sometimes come from any of websites
Banks are scared of cryprocurrency when it became very valuable and can be converted into fiat. Since most people who save their money in banks for little interest opted to invest in crypto instead since it is secured, convinient and volatile. For me, big banks are not so nervous about bitcoin because they are the most trusted and most famous of all. Yes, bitcoin is now getting very expensive, and the community of it is growing
I think they are not scared rather they are anxious that bitcoin may affect their industry since traditional banking may be outdated due to the potential domination of blockchain where no strict rules will be implement unlike the traditional banking that has bundle of requirements but with a very minimal return of your money unlike cryptocurrency.
Banks are scared of cryprocurrency when it became very valuable and can be converted into fiat. Since most people who save their money in banks for little interest opted to invest in crypto instead since it is secured, convinient and volatile. For me, big banks are not so nervous about bitcoin because they are the most trusted and most famous of all. Yes, bitcoin is now getting very expensive, and the community of it is growing
Jump to: