Do Banks fear cryptocurrency

[lance04]

I think banks has no fear in cryptocurrency because as far as I know, some banks are patronizing bitcoin.
They also have stocks in bitcoins for emergency purposes or to be in trend. Banks may be use this as their partner to control producing our traditional money.

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[MadelynCohen]

Probably banks will be afraid because banks can generate income from transaction fees aside from lending interest. And if happens that bitcoin would spread all over the world and all of us used bitcoin the banks income will lessen also. Some of bitcoin transactions don't have fees or if have but smaller amount compared to local currency that's the thing they are afraid off.

[mr.bean865]

No bank will want that bitcoin use as official currency as in crypto we do not need any bank and if bitcoin gets official then who will go to bank and who will deposit and then how banks will earn?

[hangar18]

I think banks has no fear in cryptocurrency because as far as I know, some banks are patronizing bitcoin.
They also have stocks in bitcoins for emergency purposes or to be in trend. Banks may be use this as their partner to control producing our traditional money.

Recently, some banks accepted and supported their user can investing into cryptocurrency directly.  Example Liechtenstein Bank, they have decided to support cryptocurrency instead of ban it like other banks and government did.

You can read more detail about this news here: https://www.coindesk.com/liechtenstein-bank-opens-up-cryptocurrency-investment-for-clients/

[kil5478]

Crypto currency is the main threat for banks in the whole world, but it seems to me that banks will most likely learn to use it for their own purposes.

[just a man]

Another duck from the government, banks are very afraid of blocking technology, and therefore act aggressively.

Banks are not just made from a small group of people claiming that Bitcoin is going to be reviewed in their operation. Banks often have a high number of employee's, Bitcoin would have to be approved by mainly all of them.

[Jaya912]

Banks are not scared of crypto currencies, they are only trying to keep safe their country's currency.
Instead of crypto currencies to make banks disappear, they will work together to achieve one aim.

I think banks should support of somehow be a part of the system of Bitcoin more rather than to be scared on the things it could gives on the system of transactions. If e would want to have development in terms of our monetary system we should also support the future and being a part of Bitcoin is a big step on moving forward.

in my country bank is not taking a part of bitcoin but it takes the part of the technology.
blockchain technology has been adopted by some bank in our country to make the system even better.

[Wylie330]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

That is right. Banks are threatened because as you've said, Bitcoin doesn't need banks to keep it safe. Even ourselves can do that safekeeping. So if Bitcoin became legally the first digital asset that will be accepted by all government, then banks do not have a role anymore in our financial sector.

[noloco]

Banks are not afraid of crypto currency, they are afraid of not controlling the winning cryptocurrency. It is no problem for multimillion company to create a blockchain.

[IlbiStarz]

i don't think so, because bank can take advantage from it, they can open their own bitcoin exchange if govt. Allow and implemented technology in banking system ( block chain technology). Blockchain will increase bank's efficiency and services, i don't think bank fear from crypto.

[Yur]

Banks are quite fear with bitcoin or any other cryptocurrency. In this generation whereas we are equipped by technology cryptocurrencies will be dominated as an online currency rather that traditional currencies that we have. But people are now beginning to see that you can make more money without having a bank.

[kateycoin]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

Absolutely yes because bank knows that digital currency is decentralized unlike to them that centralized. Banks scared because their costumer will go to decentralized like bitcoin because in bitcoin even without bank you can save money and the transaction is good than to bank. But in reality we all need banks to save our fiat money.

[Apple Mac]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

Actually there is no need for banks to be afraid of cryptocurrency because even this type of currency rise up into popularity, there will be still a large number of the total population worldwide who are still into using cash rather than cryptos. Also, if time will come that many people will choose crypto over cash, banks can totally make an adaption into having a service in lined with cryptocurrency so that they will not loose any of their customers.

[lyn11]

What are the thing that bank fear about cryptocurrency? I am a newbie.

[Tukang Becak]

Banks are not afraid of crypto currency, they are afraid of not controlling the winning cryptocurrency. It is no problem for multimillion company to create a blockchain.

Bitcoin users are constantly on the rise and they are actively trading bitcoins then it will automatically leave the banks, I'm sure that banks are worried about the development of bitcoin especially now that marketcap has reached more than $ 200 billion and this year is predicted to be more than $ 20 trillion.

[Lexurdania]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

News like that, we see it everyday and many negative news about cryptocurrency. But I am believe that bitcoin and other cryptocurrency is going strong and stronger because trade volume always increasing

[Penuzel]

Banks have the high ground in all worldwide on Ewallets and Ebanks , and even tho that cryptos have substantiated themselves speculation commendable and have possessed the capacity to produce a ton of benefits and intersection any rate anticipated, cryptos can never supplant a genuine conventional managing an account framework on the grounds that those ones are bolstered by laws , governments and effective individuals that won't acknowledge the reality of cryptos beating the banks in light of the fact that all things considered those individuals won't have 12+ digits financial balances any longer .

[fotosonics]

Banks are quite fear with bitcoin or any other cryptocurrency. In this generation whereas we are equipped by technology cryptocurrencies will be dominated as an online currency rather that traditional currencies that we have. But people are now beginning to see that you can make more money without having a bank.

I don't think they are afraid in Cryptocurrencies maybe they just don't have enough regulations or law yet that Central banks can profit. Crypto itself has a huge potential in world economic and based on what I think central banks are not afraid they are trying to control people by scaring them cause they don't have enough regulations and law that can implement.

[hxxxiu]

Cryptocurrency is a decentralized transaction, he does not need an intermediary, which is a threat to the bank.

[Yomanse]

genuine banks reluctant to the digital money bitcoin the reason have a plausibility to change the position tradional bank move toward becoming vanished in the realm of cash and bitcoin bank brought up in the entire world numerous individuals todays are goes into the bitcoin to contribute their cash on account of speedier expanding and productive.