Rubble898zaitO
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March 14, 2018, 04:34:12 PM |
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I think it is more of being worried and threatened because the rise of Crypto currencies could mean that it can hurt or have negative effects on their businesses. Technically the banks or financial institutions control the flow of fiat money, all the transactions go through them like sending and receiving, even trading, investing, storing and all financial transactions but now the people has options, another way wherein they are empowered to do it on their own in a more effiecient way. So I cannot blame them for feeling that way, but I think if they will look at it holistically, they may be able to learn something from the block chain technology and level up their systems and their games this way they can be able to still prove that they are still a good option in doing financial transactions and we will all be happy. Anyways cryptos are not here to end the banks but to ensure that we have better way of our financial lives.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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idgaf007
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March 15, 2018, 01:04:10 PM |
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Yes, they fear that they will be replaced in the future plus the risk of possible use of cryptocurrency in illegal acts like money laundering. I also think they consider cryptocurrency as a threat to the schemes they have which gives only a maximum of 5% a year.
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Sowik
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March 15, 2018, 05:55:34 PM |
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No, they don't but they can't control it yet so they are banning it for now. They will have the chance to control it with the Lighting Network tho, research this matter.
Banks are the ones destroying bitcoin even at the moment.
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jeldzrey16
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March 15, 2018, 05:59:41 PM |
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Nop. They are trying to protect the countrys currency. Bank is also the way to waithdraw our money, so i think they are not afraid, but they just protected their own cuurency.
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Jannatul Shefa
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March 15, 2018, 06:06:30 PM |
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In some respect I think yes. Because if cryptocurrency spread all over the world. Surely bank will have nothing to do.
Other reason can be they don't fear but they just want keep their country save.
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niteroy
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March 15, 2018, 07:01:30 PM |
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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 Central Bank is the Bank that heads the country's credit system, which has the monopoly right to issue banknotes and carries out monetary policy in the interests of the national economy, so this is a natural reaction to the emergence of cryptocurrencies that replaced the banking system, which deprive the Central Banks of the monopoly of issue of money supply and regulation of financial activities. We will see banks try to blacken cryptocurrencies and discourage people from interested in them, but all this is meaningless, because the evolution of money can not be stopped and cryptocurrencies will become more popular every day. |
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fattyforhire
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March 15, 2018, 08:36:18 PM |
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It is not surprising that banks are afraid of cryptocurrencies, as their complete dominance will make banks unnecessary for modern society.
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Sumo
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March 15, 2018, 09:41:33 PM |
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Bitcoin can completely change the world, and therefore the familiar concept of the banking system. If bitcoin will also develop dynamically, as now, we really do not need banks.
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FLoving
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March 15, 2018, 09:43:46 PM |
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In some respect I think yes. Because if cryptocurrency spread all over the world. Surely bank will have nothing to do.
Other reason can be they don't fear but they just want keep their country save.
Actually there is no any harm to the banks they only do not know about the cryptocurrencies that is why they are feeling a harm to themselves from these coins if they will study about bitcoin and they will start working in this field then they will not face any harm from these coins and they will be more beneficial with the use of cryptocoins. |
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lrr
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March 15, 2018, 10:05:41 PM |
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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!
I think the banks are still too powerful to be afraid of cryptocurrencies, however I think that if they see potential in them they will work together. Ripple is a prime example that the banks are looking for opportunities to work together. |
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rollingstorm45
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March 15, 2018, 10:08:02 PM |
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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 I am confused, what is feared by the bank? does cryptocurrency compete in the banking sector? is not it better to work together? |
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biascoin
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March 15, 2018, 10:08:27 PM |
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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!
They are not afraid. BTCubblecoin is not solving any problem, and if a currency has to "defeat" banks I doubt Bitcoin would be that one. It is just gambling, everyone is calculating how much a bitcoin is worth it (this hour) IN DOLLARS. People is just spreading FOMO so they can pump the coin, get rich fast if they can and keep doing the same. |
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joan26
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March 15, 2018, 10:08:43 PM |
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Banks fear bitcoin, because they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it...purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.
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biascoin
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March 15, 2018, 10:10:19 PM |
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Banks fear bitcoin, because they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it...purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.
Banks do not fear Bitcoin, anyone can do a cryptocurrency in a week or clone Bitcoin. And Bitcoin has NO potential whatsoever as it stands. It is just a gambling scheme. |
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teejayrichard2
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March 15, 2018, 10:39:26 PM |
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Yes, banks fear cryptocurrency greatly. people now prefer to save money with bitcoin and other cryptocurrencies instead of keeping it in the bank. banks usually use money saved long term for business and give out a little percent during an agreed period. they fear if people continue to save money using bitcoin instead of banks, then it will affect them greatly...also if cryptocurrencies dominates the world then all banks will fold up
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rockyboy
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March 15, 2018, 11:50:47 PM |
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Of course, banks would fear cryptocurrency because crypto are now being used by many, it is being popular in the social media. In fact the demand increases and more investors are coming. What about banks? Maybe, the depositors are now quietly moving to crypto to invest so that they can get a better profit in which bank cannot give.
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EinaiOraCoinDev
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March 16, 2018, 12:37:41 AM |
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Of course, banks will be afraid of cryptocurrencies, because there are already technologies such as decentralized Bank from Crypterium, loans from the Credits project and much more. Banks - this is the last century.
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Becase
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March 16, 2018, 03:58:52 AM |
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very true, that's why some of them make their own coins, but most of them just loosen the cryptococcal restrictions. But I think the threat is exaggerated. because Crypto will not replace the fiat in the next year or even close.
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Lmaooo
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March 17, 2018, 09:58:47 AM |
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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!
I think the banks are afraid of the long lasted trend on the web which is bitcoin. the banks are afraid bitcoin is going to take over their business. Bitcoin is a revolution which gives people freedom with full control over their money. While using bitcoin, only people have the authority to control their money and no one else. The governments are afraid the day will come when people will stop using their own old monetary system and start using cryptocurrency. haha |
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Boysisig207608
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March 20, 2018, 04:21:26 AM |
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In my own opinion... banks are already there since the Roman times and I thinks banks will still remain as banks for a very long time and in the distant future, I don't really think that banks fear crypto currency because crypto currency is not present in all the places in the world, there will always be banks in remote places where crypto currency doesn't exist.
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