Do Banks fear cryptocurrency

[Reid]

What else will they fear of.
Including the government is beside them so no one can stop them but crypto currencies.
See how they are creating their own just so they could say they can do it too. Hilarious.

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[swaptaker]

I'm sure that bitcoin is a serious threat to the bank system, this is because the value of bitcoin transactions keeps increasing so that the customer banks will run and switch to bitcoin.

I don't agree with you, bitcoin can be integrated into the conventional banking system and people can keep using bitcoin through the banks. The problem here, banks are centralized and they don't want to take bitcoin into consideration.

[Timoteus]

Everyone is afraid. Russia introduces laws against crypto

[Colt81]

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!

All these issues and 'war' between banks and crypto currencies are all over the news. But for me, it would be much better if botch side will adapt each other to benefit each other. Banks should open crypto currency accounts to allow more convenient online transaction. But bitcoin must not lost its decentralized system because that is what makes it good/better.

[SixOfFive]

Banks are not against Blockchain tech, they just do not want Crypto market to grow. As more and more people started investing in this crypto, govt and banks will lose their control from Economy. This will lead to end  to banking era which obviously bank officials do not want so they always try to slam cryto market through their negative statements.

[Doamader]

Banks are interested into the blockchain  technology, soo im pretty sure they arent worried with cryptocurrencies since they pretend to build or use the blockchain into their transactions, and who know they are already working into their own coins. Until the day we can use crypto as fiat banks will have a big role for any crytpo investor, since sooner or later we will need to exchange into fiat.

[Sir Paijoe]

Bank is a state-protected official agency, I'm not sure banks fear with the development of bitcoin, because banks will continue to exist as long as the central bank exists. besides, if the bitcoin transaction is more massive then one day the bank will receive bitcoin.

[unknown-user]

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 they're not. In the first place, Ceyptocurrency's aim is not to replace cash or regular currency but jist to be legal and to be used by more people. And also, banks are exclusive for regular currency so, even if cryptocurrency is well known at this moment and is now more in demand in some countries, it will still function since cash is still used by most of the people. Neither banks or us should be afraid since both function in different ways.

[Pakar11220]

yes banks fear from cryptocurrency, because crypto gives an alarm for banks that will hurry ends its business and people will gradually moves towards cryptocurrency for which people make high earnings.

[Siren]

yes banks fear from cryptocurrency, because crypto gives an alarm for banks that will hurry ends its business and people will gradually moves towards cryptocurrency for which people make high earnings.

I think for banks they really perceived bitcoin as a competition, and of course we don't have crystal balls to predict what's going to happened in the future, so there is also a fear of the unknown for them. But I don't think they need to fear bitcoin because its not a competition but rather alternatives for us. At least we have options on where to store our wealth not just on the banking system, but through bitcoin as well. Also, Banking system can used the technology of bitcoin, which is Blockchain to their advantage, so they don't need to be threaten.

[jerrison]

banks would not deny the fact that they are scared of cryptocurrencies as it does not encourage the local and traditional banking system. since the bitcoin does not work with bank process, they don't seem to be comfortable with it

[Altero]

I'm pretty sure that they are worried about this, as it will lessen the numbers of clients who are using their services. Banks are totally dependable to the people around, because without us they are nothing. Having with their service fees and loans, they are still alive. Because in crypto currencies, we can store our money through online and banks are not necessary. Banks can't benefits on this, unless they change it into local currencies and deposited on the bank.

[metenjean]

I'm sure that bitcoin is a serious threat to the bank system, this is because the value of bitcoin transactions keeps increasing so that the customer banks will run and switch to bitcoin.

I don't agree with you, bitcoin can be integrated into the conventional banking system and people can keep using bitcoin through the banks. The problem here, banks are centralized and they don't want to take bitcoin into consideration.

Dont think that the bank transactions is relevants for this questions because i dont think bank fear about customer running away and switch to bitcoin, money circulating in cash definitely lower than money circulating in bank vaults and banking transactions all over the world. Nowadays everyone got internet and they can switch and using both bitcoin and banking transaction at the same time and i'm sure everyone of you using bitcoin will convert it into your own national currency before using it, so thats already 1 transactions for the banking system 

[Newchanka]

Banks may not necessarily fear Bitcoin. They are aware that Bitcoin is competition and competition is bad for business. As more people adopt Bitcoin, it will result in less business for the banks. That should be a reason for concern to them. With the trend of things, it'll be a matter of time, if something isn't done to restrict the popularity of Bitcoin, for the banks to start feeling impact of its competition.

[hynext]

Yes, they are afraid to this cryptocurrency. The one reason is if all people withdraw their money in the bank and they put into cryptocurrency the bank has no more money. But if i own a bank, I'll just think of making my own coin.

[adjudicator]

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!

Yeah, I think so. If people have a power to manipulate and keep their own money the job of the banks will gone. Banks in the place where people hide their money so that there job will decrease.

[bitaltcoin]

I don't think so as banks are an integral part of many people's and cryptocurrency users are less so as of now banks don't worry about cryptocurrency.

[nelsledma]

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!

Banks are the source of money regulation in an economy and financial source of help for people but if cryptocurrency gain popularity banks might loose their role of money controller as nobody would prefer fiat currency so yes they must fear about rising importance ofcryptocurrencies if they want to survive in long run

Not only that, people would love to invest into cryptocurrency as they are more easy to get into. Long term investment would really bear fruit if you invest in a good timing with the right amount of money. And they are more efficient and reliable than going to banks just to sign paperworks that tells your interest and other stuffs.

Yes the banks have the fear that if all the people in the world started using crypto currency then they will be unemployed, because there will be no need for banks anymore.

If I have such a currency which is easily usable all over the world then why should I use banks for transaction? When there is a digital banks which holds my bitcoin then why would I keep my money in the regular banks?

[sam53]

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!

Banks are the source of money regulation in an economy and financial source of help for people but if cryptocurrency gain popularity banks might loose their role of money controller as nobody would prefer fiat currency so yes they must fear about rising importance ofcryptocurrencies if they want to survive in long run

Not only that, people would love to invest into cryptocurrency as they are more easy to get into. Long term investment would really bear fruit if you invest in a good timing with the right amount of money. And they are more efficient and reliable than going to banks just to sign paperworks that tells your interest and other stuffs.

Yes the banks have the fear that if all the people in the world started using crypto currency then they will be unemployed, because there will be no need for banks anymore.

If I have such a currency which is easily usable all over the world then why should I use banks for transaction? When there is a digital banks which holds my bitcoin then why would I keep my money in the regular banks?

I don't think almost people will using Bitcoin can make the Banking system disappear. You must to know, there are many elders, they don't care the price or the profitable of Bitcoin, they just want to have a passive income and saving money in bank can create a passive income for them.

[allocatespetrified]

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 big ones?  Not very,  they're in a bit of a different industry so they should be ok even if everyone started using btc.