Do Banks fear cryptocurrency

[Hobo66]

Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. But I doubt it could happen.

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[Fatanut]

From the point-of-view of crypto-lovers, we think that banks should fear cryptocurrency because cryptocurrencies offer a lot better things than that of the banks. We think that a decentralized network is a lot better and that's true. That's true for us, the crypto-users. We also think that cryptocurrencies are going to be the future because we are making money from it and the community is growing continuously. On the other hand, banks don't fear cryptocurrencies. Why? Because they know that the masses are still not ready for it. They know that people are still very unsure about things on the Internet and their first reaction about bitcoin is it's a scam. Just last week, bitcoins were on the news in my country and the first line they said was that bitcoin is a scam. They are at least filtering out the "sheeps" or the people that wants to try bitcoins but are a little scared to do so.

[Ferhan]

Of course the banks are afraid of bitcoin. Because it is a market open to speculation. It is not possible to predict what will happen. But they can also invest.

[HiringYou]

This warning clearly throws a light on the fact that Banks are afraid of cryptocurrencies.According to me their fear is right because people are now prefering Bitcoin over  Banks. People are investing their money in Bitcoin instead of Banks because Bitcoin provides them more profits. People are using Bitcoin for their transactions instead of Banks because Bitcoin is decentralized in nature so government has no control on it and as there is no control by the government so no tax is imposed but transactions through Banks are under the supervision of government. Moreover people feel more safe in keeping there money in Bitcoin wallets because they can keep a check on it and nobody can access there wallets .

[Odora]

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!

of course, they (the Bank) fear their efforts will be defeated by Bitcoin,
so they issues that make it as if Bitcoin is not safe,
they have started studying Blockchain Technology because they know Blockchain is the most secure financial technology today...

[milandres0207]

i think so, because there are lot of investors who supported in bitcoin and it is one of the reason that many banks afraid when they loose many people especially those who have more shares on them that going to bitcoin. as times goes by there are lot of bitcoiner who proven that bitcoin have more advantages that banks.

[btcmayumana]

I don't think so, long before any other currency like paypal, skrill, bitcoin, perfectmoney, etc. with their own technology,
The Bank already has an established system used by the general public.
So basically technological progress is good for the bank itself, where the bank should be more able to give freedom to its customers, where the technology crypto exists because of the tendency of people to be free in managing money and without strict supervision

[thesmallgod]

of course yes bank are really afraid of not only cryptocurrency but any digital currencies. they consider it as a treat to banking. what do you think if people stop buying treasury bill on invest in fiat but choose to invest in cryptocurrency. it might affect the existence of a banking system. i have met so many banker when you speak to them about cryptocurrency the next thing they will tell you how you will lose your money by being scam as if you cant lose fiat through scam

[moooonu]

Bank don't fear about bitcoins much as till its not legalized properly all over the world people still need fiat currency to use in the market and to pay bills. Till btc don't get legalized as fiat currency btc can't be accepted openly.

[Ayiranorea]

Bank don't fear about bitcoins much as till its not legalized properly all over the world people still need fiat currency to use in the market and to pay bills. Till btc don't get legalized as fiat currency btc can't be accepted openly.

That's the outlook each and every user has, but in reality banks fear much about bitcoin as well other digital currencies. Everything is purely upon the growth it has reached in a very small time frame as well the flawless functioning. Though it's dependent on banking section, banks fear of the backing technology and keeping them up to date to cope with it.

[mrcash02]

Bank don't fear about bitcoins much as till its not legalized properly all over the world people still need fiat currency to use in the market and to pay bills. Till btc don't get legalized as fiat currency btc can't be accepted openly.

I think that is our "luck" for now. So the few Bitcoin users can use it without fear of retaliations from banks side. But it's slowly changing... Even more the banks are more interested in Bitcoins and are sending signals to their respective governments to start taking actions about it, for an example to legalize the currency. Soon there will be many people using Bitcoins and when this day comes there will actions to regulate and legalize Bitcoins on each country.

[stayeduptolate]

Our society become  advance day by day. Bitcoin brought into us anew disruptive world, which is more dangerous than the Internet  in some way it affects banking system also. Bitcoin force them to innovate. Bitcoin bring us most innovative emerging technologies  which has potential to improve banking. Bitcoin provide secure money storage and money transfer without involvment of third person. This things attract more business person, common peoples. So bitcoin became a threat for many banks.

[imamimam1234]

Central Bank in my country said bitcoin not legal, but for those who gave transactions with bitoin on their own risks. I don't see it's the sign that bank fear crypto, the bank only keep their money currency stable, because in my country many old generations dont use crypto (money) this is what makes bank not afraid of crypto in my country, but don't know for how long. CMIIW

[teejayrichard2]

Yes of course banks fear crypto currency. They see it as a big threat because it can take over the world and this will put an end to bank irrelevant charges.

[cold cool]

Banks are increasingly worried about the issue of the development of bitcoin. The market capitalization is getting higher and higher. International money transfers are used more and more, which is bad for banks. Of course, banks are now developing blockchain technology.

[kinzey]

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!

For me it is a yes. If digital currency catches on with more people. Less people will put money in the bank so their cash flow  will  be interrupted . Instead of using credit cards people will. Use btc instead when buying something. So interest that make banks money will lessen.

[wledgewil]

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!

For me it is a yes. If digital currency catches on with more people. Less people will put money in the bank so their cash flow  will  be interrupted . Instead of using credit cards people will. Use btc instead when buying something. So interest that make banks money will lessen.

In my view banks never fear for cryptocurrency.
Banks makes this cryptocurrency transactions as profit by charging interest. Initially they may keep quiet.

Even banks like icici making bitcoin trading and charging so banks never fear for transactions.

More customers for banks equal to more bank transactions equals to  more interest equal to mow profit.

[Siddela Sarat Kumar]

Yes, of course they do fear cryptocurrency.
Because bitcoin or any other decentralised cryptocurrency allow the people to trade peer to peer takin off the use of any middle man, which in traditional commerce is a bank.

[elpiji]

yes. I am very convincing of it. because banks can not fight against people who already know with crytocurrency. in cryptocurrency itself we are not bound by anyone and any party. but if in the bank there will be people who always arrange it

[romecheo]

That was the methods of bank to scare people, they trying to mislead people about the excellent features of Bitcoin and Blockchain,

Banks transactions are going to fade for the next coming decade, and people are longer put fiat on banks. This is the only reason why Banks are so much afraid about crypto currencies.