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metenjean
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October 26, 2017, 06:41:55 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!
Yes, many banks are concerned about the existential threat posed by cryptocurrencies, given that they are decentralized and cut out the middleman, and shift power to the users. The banks are thus much like the music industry when peer to peer file-sharing took off. The banks should think about offering services to cryptocurrency owners rather than using empty scare tactics. Really? You give the example of the file sharing. Well netflix and youtube are killing filesharing in the us. Also the use of smartphones forces a lot of users to look for alternatives as filesharing websites are full of ads malware and really not adapted to mobile usage. And do you think banks are not adapting? Check the threads and look how most of people store their coins, in online wallets a.k.a banks ,also most use banks to send or withdraw funds. Besides, have you seen the cheering of goldman sachs scam interest in bitcoin? The banks are not afraid, they have hundred of trillions to play with, bitcoin is just a drop of water in the ocean to them....for now. Agreed, wallet accounts now serves as bank in cryptocurrency transactions. A lots of banks and other financial institutions may call bitcoin the biggest scam ever but who doesnt know that there is a billion dollar transaction per day going around the bitcoin and who own that kind of money other than them. They got unlimited resources, might still testing the bitcoin market for now but who knows in a few years they will even doing bitcoin transaction in the broad light not in the shadow anymore  |
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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rodel caling
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October 26, 2017, 07:04:31 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!
true banks afraid to the cryptocurrency bitcoin the reason have a possibility to change the position tradional bank become disappeared in the world of currency and bitcoin bank raised in the whole world many people todays are goes into the bitcoin to invest their money because of faster increasing and profitable. |
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honeyb0y
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Activity: 84
Merit: 10
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October 26, 2017, 07:17:06 AM |
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Bank might fear cyrpto currency because they don't have a business on it. once it is successful banks will not earn anything.
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Sir Paijoe
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October 26, 2017, 08:08:43 AM |
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When the use of bitcoin continues to increase automatically people do not go to the bank, this makes banks afraid and thinks that cryptocurrency is the biggest threat in the history of banks.
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koumpesbtc
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October 26, 2017, 08:12:38 AM |
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At the time being they are not scared of it but they get concerned about it. Specifically because crypto currency gives to them no chance to charge any of their ridiculous fees and rates. In the years to come when cryptos, will expand even further, will pose a real threat in their profits and then the games will begin.
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Ranly123
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October 26, 2017, 08:32:01 AM |
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It is he bank who should be afraid of bitcoin because bistcoin also serves as bank that has far more greater interest in your investment.
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gabmen
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October 26, 2017, 12:49:47 PM |
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At the time being they are not scared of it but they get concerned about it. Specifically because crypto currency gives to them no chance to charge any of their ridiculous fees and rates. In the years to come when cryptos, will expand even further, will pose a real threat in their profits and then the games will begin.
Probably, though i don't there's any need for banks to be anxious or fear crypto. As long as they have government backing, crypto would only be second fiddle to them and they'll remain the top market holder. |
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PizzaBTC
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October 27, 2017, 11:23:25 AM |
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I think so. so many bad things if cryptocurrency has been famous over the bank. especially if it can be a better investment than a bank. I think it's true if banks are afraid of going to the popular cryptocurrency.
Although current banking system is strong but they don’t to encourage cryptocurrency/bitcoin at any cost because they consider bitcoin a great threat to their system. Banks has already suffered due to less investment by people because people are now interested in cryptocurrency/bitcoin investment and they prefer bitcoin instead of banks because bitcoin business gives a good return to people than banks so why people will not prefer cryptocurrency for business which has gotten immense popularity among societies/masses. Bank’s business is suffering badly due to bitcoin popularity that’s why banks doesn’t want growing of cryptocurrency. |
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Taskford
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October 27, 2017, 11:32:06 AM |
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The banks are not afraid about the cryptocurrency because they know that they can make moves to prevent the possible threat of the cryptocurrency and because of support of the government and if i am not wrong, they will create their own digital currency so they can have a good competition compare to the cryptocurrencies that are volatile.
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thecryptogiant
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October 27, 2017, 11:38:36 AM |
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No absolutely not.
See you cannot confuse banking system with crypto currency.
we use fiat money in bank so we know no matter what happen we will never gonna loose our value.
but in cypto the market flactuates every second today we maybe in gain but if tomorrow you 1000usd become 500usd you are gone for sure.
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BIG Tyrese
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October 27, 2017, 11:40:20 AM |
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I don't think so not many banks have come forward and tried to attack Bitcoin so I don't think they care too much.
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ranggawulung
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October 27, 2017, 11:44:15 AM |
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Banks are afraid of crypto currency for many reasons. Crypto-currencies are safer, anonymous, translations are faster. You do not need to pay taxes, do not need a lot of paper operations. The contribution to bitcoins is much more profitable than the contribution to the bank. The technology blockchain awaits its introduction into the banking sphere of accounting and so on.  |
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Fretcy
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October 27, 2017, 12:12:52 PM |
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Bitcoin has brought a tremendous change in the lives of the people which attracts more and more cryptocurrency users to the crypto world or the digitized world which scares the bankers of losing their job as all are preferring to use digital currency rather than using traditional currencies, banks fear that people will withdraw deposits to invest in cryptocurrency market which will make the banks to shutdown other problem faced by bankers is that they cannot control people's money if all start to adopt cryptocurrency network than the traditional banking systems.
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BitcoinBallerina
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Presale is live!
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October 27, 2017, 12:41:26 PM |
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Banks absolutely fear cryptocurrency. They have no idea what to do and they are completely panicking. They first tried to bash it, and now they are toying with starting their own cryptocurrencies as well as playing with enterprise blockchain applications.
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Joshapat
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October 27, 2017, 12:45:48 PM |
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For now maybe bitcoin transactions are still very small, but if the year 2018 rises up to 500% as this year it is certain that banks will be afraid of cryptocurrency. In addition, banks are also afraid if the government legalizes bitcoin so users immediately switch to bitcoin.
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Asmonist
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October 27, 2017, 01:15:22 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 so. It will really affect the banking industry. But I guess they can collaborate with each other to have a product that are both beneficial for them. |
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Ranly123
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October 27, 2017, 01:20:31 PM |
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Not that they are afraid but i think they try to prevent people from investing on cryptocurrency. They cant stop people from investing on cryptocurrency that is why they panic since they cant profit from the people who put there money on bitcoin instead on their bank.
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kucritt
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October 27, 2017, 01:22:24 PM |
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bank afraid if them lost their customer because of cryptocurrencies, the afraid taht cryptocurrencies can ceplace the bank activity like transfer receive money and sending money. and i think it will be happen is cryptocurrencies is more popular somday
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dali_masmoudi
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October 27, 2017, 01:30:59 PM |
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Banks generally have fears from anything illegal and can influence their work and brand.
Also the flow of the Bitcoin Transactions is very high.
In addition they have that bad idea that all transactions are suspious and illegal.
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xbl1008
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October 27, 2017, 01:31:08 PM |
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i think yes but not totally because they are also backing their own crypto currency in this emerging industry of blockchain that is totally better than bank system but bitcoin cannot kill banks that easily because all business is using banks as storage of their business money for safety but bitcoin is much better because the capital appreciation is really higher than bank interests
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