Topic: Why Big Banks are so Nervous About Bitcoin ? Why ? - page 9. (Read 5208 times)
Blockchain's technology is really futuristic that banks too are implementing its technology in their system and reading its effects. I do know a state bank in my country which is implementing blockchain's technology for its functioning. I think they see this as bad to their system in which people will better take risk than to invest to them in which the interest were very small
It is all about defending the profits. Blockchain can really change many our institutions. Banks loosing some of its clients because cryptocurrecies faster, and cheaper. It is not easy for some people to memorize thier private key but the wallets already useful. I think they are not actually nervous, but to do what they suppose to do by releasing some public 'awarness' about the risks of crypyocurrency which they aren't too into them technically
yeah indeed they nervous because they are thingking about the future of the bank main inome itself that come from the intrestest, if there a few people are join in or saving their money on them, it can make them a bankrupt
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
The reason is very simple, most of the people now a days are preferring to invest on bitcoins because if you will be placing your money on the banks, the scale amount of increase is very low and cryptocurrency will be more profitable.
I think banks are behaving foolishly. Instead of venturing into crytptocurrency and making new advances because the block chain is here to stay no matter what they are sitting there trying to sabotage. Hehe .it will not work.Banks better shine their eyes and start their cryptocurrency journey now.This is the only way for them to survive in the near future.The central bank in my country has started putting in measures to accept cryptocurrency soon and I think that is a smart move.
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.
The only exactly reason is the lack of bank investors. If you compare the profit with crypto is so far away. But right now, there's exchange that accept fiat so it makes some banks alive.
they can think the market is collapsing, but new things is cyclic and they already had their place in the past so don't worry man
In my opinion, they do not think the market will collapse, they fear that as Crypto grows they will take over their customers, people's money will flow into the BTC, and corporations need capital. They raise capital through the ICO program. Thus, the banking system will freeze, and will not work. Because banks know very much about this. They are afraid it will be unchallenged by bitcoin and eventually they will be replaced. Because bitcoin has started in knowing many people but there are still many who banned from a country whose majority of government in control by the upper class.
If bitcoin adoption become more wide spread, i think peoples will no need to open banks account. With opening bitcoin wallet, peoples already can make transaction with others with lower fee than banks and much faster
I think, obviously they are just fearing, that the Bitcoin can take there earnings, that they are having right now!
Crypto currency is a direct competitor to banks, and quite serious and they finally realized this. Therefore, they became nervous and even began to take certain measures to discredit it. On the other hand, bankers see that it is impossible to stop the crypto currency. It enjoys great popularity and support among people and is being prepared for its possible recognition and use in its activities. Moreover, blockchein technology is recognized as advanced and reliable for the safe storage of large databases by most states. Therefore, the banks not only began to introduce the ripple coin into their system, but also after the states of the crypto currency have been legalized, they will have to render various services in the crypto currency.
they can think the market is collapsing, but new things is cyclic and they already had their place in the past so don't worry man
Because banks do not want to be rivaled by bitcoin and banks also know very well that bitcoin has many advantages. Therefore they are more cooperative with the government to spread the negative about bitcoin.
But they will not get the success and they know well that bitcoin is going more stronger that the struggle of them against bitcoin and they know that the companies related to bitcoin are earning more than them and they know that with the passage of time one after another country come to legalize bitcoin so they are seeing themselves as failing. But they do not think that if they also start to give service for the users of bitcoin then they will also earn a good profit for themselves.
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.
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.
Because banks do not want to be rivaled by bitcoin and banks also know very well that bitcoin has many advantages. Therefore they are more cooperative with the government to spread the negative about bitcoin.
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Why Big Banks are so Nervous About Bitcoin ? Why ?
Their nervousness, in fact is due to their own inability to manage cryptocurrency, but they do not want to admit that weakness, perhaps because of prestige or embarrassment, ashamed of having sneered bitcoin.
they should be nervous about btc actually think either they have to integrate blockchain or else news project will disrupt the banks so theya re nervous
Banks are nervous because they lose market and are always looking to participate to achieve their intermediation in the market and achieve their share.
One of the reasons that is frightening is that banks are afraid of the bitcoin competition and in the end they ask the government to ban bitcoin in the country. So that the bank can still be used in that country.
Central banks of some countries are upset and feeling irrelevant in the presence of crypto market as they are facing with reduction due to the traffic on crypto market. Their businesses are reducing as their policies are less public friendly while that of crypto market is more public friendly due to which people are now going towards crypto market. This does not mean that banks will totally demolish but are facing a little decrease in their businesses.
Perhaps because of the rapid development of Bitcoin, and many people are interested to enter Bitcoin. so the big banks are afraid, this Bitcoin will be their competitor, who will move all the customers of the Bank moved to Bitcoin.
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