Do Banks fear cryptocurrency

[roshanface123]

I think its true banks fear cryptocurrency. And the reason is, crypto offers better return from their every single investment. And these crypto are offered a simple and easy transaction of money to individuals and we can use this in most of the shopping fields.

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[elizavetausova0112]

If I started investing in your place, I would not check in profits monthly, ori invested the amount with a profit.

[castis]

I think we all fear competitors who can take all our business and money in few years, so banks trying to fight crypto or they will lose badly.

[maichimoto]

I'm pretty sure they do. It's the direct competition to what they do. It's similar to crude oil companies, they're fearing the future of electric vehicles but it's coming, nothing to do about it

[masterman]

Of course banks trying to persuade people not to invest in cryptocurrencies, cause they cannot control it at the moment and they end up losing money. After sometime, when banks will become crypto-friendly, I believe their opinion will change. 

[david roman]

Banks are doing everything they can to prevent cyberattacks from developing because it will make the bank ineffective and affect the interests of the banking industry, which will be a long battle.

[slothtrooper]

https://www.express.co.uk/finance/city/931467/Bitcoin-price-barclays-ripple-cryptocurrency-exchange-ethereum-BTC-to-USD-XRP-news

8.56am - UPDATE - Barclays links with CoinBase

Barclays has signed a deal with a major bitcoin exchange to simplify the process of deposits and withdrawals for Coinbase’s UK customers, who have previously had to route their transactions through an Estonian bank.

The Financial Times report that San Francisco start-up Coinbase has secured a bank account with the British bank.

The move marks a break from the general trend of mainstream banks avoiding the cryptocurrency industry over price volatility and links to fraud.

[fempat]

Its inevitable. Same thing happens everywhere. The governments that seem to accept it do so because it has not really become a threat (or they have not woken to to the reality) to them. How about if they look at how they will integrate cryptocurrency to make the current financial systems better, like adopting Ripple for instance?

[GavenJack]

well, that, banks can be understood. they want to make money. but we are here with its crypto currency, we are taking profit directly from under the nose. this is not going to please anyone

[Riten]

Yes, but... Central bank represents government and some governments have a fear that they will lose control because of crypto.
Ordinary bank has fear too because crypto is messing with their income.

[TitanGEL]

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!

There are many experts said that the cryptocurrencies can threaten the banks. I think that banks are also afraid to the cryptocurrency and I think it is the reason why some banks are still not accepting bitcoin as medium of exchange.

[Bitfling]

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!

Today many central banks in several countries banning circulation of bitcoin. It happened because bitcoin and other cryptocurrency will reduce their function as intermediaries in transaction. Bitcoin offers a limited supply and also offers low transfer fees. Additionally, no one institution can control price and bitcoin supply

[conected]

No, they doesn't afraid in the power of cryptocurrency because they believe it will brings an advantages to them. Cryptocurrency is just an option for us if we want to have more income.
I believe many people will still go on to our traditional money.

- Of course not, cryptocurrency still not strong enough to threaten banks, even it needs the support of the bank to help it become more popular and easier search for investors, cryptocurrency is afraid of banks rather than banks afraid of it. If the bank wants, all cryptocurrency exchanges will become more difficult, but now they feel cryptocurrency are beneficial for them, so they are very comfortable with it, people in countries still trust banks, cryptocurrency is only a place to invest and make money, they will never trust in sending money

[Antivoid]

i think bank will welcome crypto if they really know it, we see bank fear may due to people fear new things that are unknown to them, bank maybe the first to use blockchain to promote their developments

[flying_bit]

maybe before they are not keen on the idea to the point that they are opposing it but banks are now utilizing blockchains to their advantage and I will not be surprise if bank will soon release their own cryptocurrency.
Hey, don't forget that nasdaq is planning to list bitcoin future and if wallstreet bit by bit accepting bitcoin so are the banks and soon the government.

[12tribes]

They should have fear for the emerging and growing crypto currency markets. J.P.Morgan attested to the threat the crypto world was becoming. Rather than consider the crypto world as an enemy, what banks should do is ride on the emerging trend, lest they find that they've lost their market.
Remember, Nokia didn't do anything wrong other than failing to go with the trend..... The rest is history.

[klebsiella]

Banks fear bitcoin and othe cryptocurrency because they think it might be a threat to established banking institutions. It has a certain attractiveness given the shortfall of transparency in the banking system. In crypto transactions, there is no need for a driver's license to open an account or pay for account fees. The blockchain technology cannot be hacked unlike the bank accounts. Bacause of these, banks are afraid that their services will no longer be needed.

[EdfuJihad]

Yes, because they experience threat because of how good crytocurrency is. The cryptocurrency offers an easy and very reliable ways such as making accounts etc. For your savings or money.  Because of it is in the internet,  less hassle and very time friendly to the people.  As it offers good services and assurance someday it will be recognized by the government, it will be shared it public and many will join the cryptocurrency,  banks may experience bankrupt.

[hakertajniak]

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!

The bank system will be disrupted by the existence of cryptocurrencies. Bank systems are centralized and controlled,
but the cryptocurrency is decentralized. They cannot control cryptocurrency, and they don't want this.
Instead, they suggest peoples not to use cryptocurrency, even they banned it!

[RiskySanchez]

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!

The bank system will be disrupted by the existence of cryptocurrencies. Bank systems are centralized and controlled,
but the cryptocurrency is decentralized. They cannot control cryptocurrency, and they don't want this.
Instead, they suggest peoples not to use cryptocurrency, even they banned it!

yes it will be difficult for a bank to manage the crypto currency that has dominated in the digital world even to the real world, it would be better if the Bank is integrated with a crypto currency that may be able to implement as one of the nation's economic technology