Do Banks fear cryptocurrency

[play1ife]

Sure, banks afraid of cryptocurrency. in my country - Russia they afraid not popular or not be place that be destination of many people.
 it makes bank decrease their income, make them disappear from people thought.

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[KingScorpio]

Sure, banks afraid of cryptocurrency. in my country - Russia they afraid not popular or not be place that be destination of many people.
 it makes bank decrease their income, make them disappear from people thought.

jes and worst of all the banks cant lend money to each other anymore in order to live on the back of the people, that are forced to work for that money. since the banks run a financial cartel and fund their police to eliminate competitors that are outside of the gay bankster system

[trollercoaster]

Of course they do fear, cryptocurrency is moving the money away from them, also taking their power too. They should fear too because cryptocurrency is a lawnmover and banks are the grass in our yard. In the future there can only be one institution like a bank a control mechanism of a giant decentralised system.

[Trivelius]

Bank might fear cyrpto currency because they don't have a business on it. Many banks will collapse if they didn't adopt cryptocurrency. And hope banks feel the challenge and improve the financial technology in the coming years.

Actually bitcoin is going to minimize the use of banks therefore we can think that there are chances banks must have fear from bitcoin and therefore thy may be making planning again bitcoin how to drop it, but bitcoin will survive for long long time and will surely replace banking system.

[Txslady]

I am not sure about the other cryptos, but I don't think that banks are afraid about Bitcoin now. Earlier they were afraid that Bitcoin will be used as a medium of payment. But high fees and delays in transactions have meant that nowadays hardly anyone is using Bitcoins for that purpose.

[surbanaB]

YES SIR! and not just banks, government and elites are taking steps now to regulate bitcoin.
They are so afraid about this because bitcoin might end their pleasures in life as many people now are getting rich, because of this cryptocurrency.
They will never accept this fact, and will surely do more in the future to put bars on this coin.

I definitely agree with your opinion. Honestly, banks is really afraid of the bitcoin existence, even some bankers are tryng to oppose the bitcoin market. The demand of using bitcoin is becoming more popular which makes most of people give money for bitcoin because bitcoin does not high fee like banks. Almost government of many countries does no accept the development of bitcoin because it makes the economy get more confused. Moreover, it makes many of people depend on it.

[crustycrab666]

Yes they do because they know that people will not trust the bank and will invest all their money in bitcoins so they dont make any profit anymore and that is why the banks actually fear bitcoin because it is free and it is our own and not the banks money.

But the problem is that people need to use banks to withdraw money in fiat. You can't spend cryptocurrency in real life, so you need to use bank services.

Thus, banks and cryptocurrencies have a symbiotic relationship of mutualism. Both need each other. After all, why should banks be afraid of cryptocurrency? banks already have legitimate recognition from the state. If associated with its function, as much as any of our funds in cryptocurrency, if want to use it in real life we must wd from the bank.

[tittensor]

Bank might fear cyrpto currency because they don't have a business on it. Many banks will collapse if they didn't adopt cryptocurrency. And hope banks feel the challenge and improve the financial technology in the coming years.

Actually bitcoin is going to minimize the use of banks therefore we can think that there are chances banks must have fear from bitcoin and therefore thy may be making planning again bitcoin how to drop it, but bitcoin will survive for long long time and will surely replace banking system.

No, I do not think so. First of all, Bitcoin is decentralized system, without manager, this system can not become the new banking system. Bank is the represent of centralized, with support from the government and the bourgeoisie, banking system still stronger today. But for Bitcoin, instead of create a bank, it can use to create a service for lending (smart contract and blockchain).

[jitenrajput]

As you know cryptocurrency is based on decentralization concept, it eliminates the need for middlemen. They were invented with the aim to make transactions faster, verified and secured without trusting or relying on banks or financial institution.

Banks take longer time to transfer the money, especially in international transactions. Because they manually verify the parties and then gives green signal to the transaction. They charge massive fees to perform the task and also converts at their favourable exchange rate.

To get rid of this, cryptocurrency was invented. Banks fear because their importance seems to be in danger. If everyone in the world starts using cryptocurrencies in place of fiat, their role play in the economy would be equal to nothing.

But this time is quite far away and cryptocurrencies are more used as trading assets instead of buying goods and services.

[AliMan]

As you know cryptocurrency is based on decentralization concept, it eliminates the need for middlemen. They were invented with the aim to make transactions faster, verified and secured without trusting or relying on banks or financial institution.

Banks take longer time to transfer the money, especially in international transactions. Because they manually verify the parties and then gives green signal to the transaction. They charge massive fees to perform the task and also converts at their favourable exchange rate.

To get rid of this, cryptocurrency was invented. Banks fear because their importance seems to be in danger. If everyone in the world starts using cryptocurrencies in place of fiat, their role play in the economy would be equal to nothing.

But this time is quite far away and cryptocurrencies are more used as trading assets instead of buying goods and services.

Yes, banks are fear in any type of cryptocurrency like bitcoin, altcoin, ethereum, etc. because digital currencies don’t need these banks to operate. It can operate and do a transaction without intervention of banks because of the peer-to-peer network connection of bitcoin so it means you can transact directly to another within or outside of your country without passing it to a bank.

[kskwerl]

Part of the cost of bitcoin and popular altcoins is bloated. But if we eliminate problems with speculation, then the Crypto-currencies have a chance to stay in the world for a long time. After all, they are a real alternative to the current financial and political structure of the world.

[angaper]

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 that the positioning of each central bank varies in each country, because I have seen that the FED has not taken with excessive suspicion the current relevance of bitcoin, however it is natural to advise citizens to be alert to the possibility of suffering eventual losses before the great volatility that characterizes cryptos. These types of positions seem natural to me, and even demonstrate a greater openness to change by not openly censuring the use of bitcoin.

[Yle725]

it is obvious that banks are afraid of the cryptocurrency market, it is the only thing that could make banks useless and consequently revolutionize the entire economic market.

[filiparoxo]

If i am annowner of a bank i will  have fear of crypto currencies because of many people can earn money from this without the help of a bank

[wasaisi]

Crypto currency put the power of banking in your hands instead of in the banks. This means we directly benefit from it with the investment. Usually the bank would keep this from us and make their own money with it. This is being decentralized and being used and available to anyone who uses crypto currency. This is why they fear it. The profits are at stake. A new contender has arrived and is better then the banks.

[shandiem14]

Yes Banks fear cryptocurrency and that's why they are planning to create token on top of the blockchain coz they can't beat crypto all they have to do is to embrace it. Cryptocurrency is the future of money and technology.                                                                                                                                                                                                   

[Kostyan4ek]

Clearly, banks fear bitcoin and cryptocurren. If I was the manager of a bank, then I would warn and take measures against bitcoin because bitcoin develop strongly, many people use it, the number of bank customers decreases and benefits the bank reduced.

[Boybugwal760820]

As what I know is that banks are already there since the early times and I think that 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 parts of the world because there are still many remote places in the world which do not have any internet or mobile connection but they always have banks to fill in the gap.

[haster100]

I think bank are in fears of cryptocurrency because it's their number 1 competitor in the payment system as they get no money for every transaction you made since most cryptocurrencies are decentralized in nature.

[Markpet01]

In my opinion banks are fear in cryptocurrency because crypto is their no.1 competitor in the payment.In crypto you don't have to pay in your every money transaction you make because it's are decentralized in nature.