Do Banks fear cryptocurrency

[mammoniter]

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!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

Correct, they would definitely try to warn other people even without enough proof that bitcoin is not a legit currency they would throw negative feedbacks to warn possible investors and eliminate competition or threat to their system since bitcoins decentralization is the major key that banks do not have plus not to mention their continues service fees and even slow services with a lot of requirements.

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[Bitcotalk]

well some banks says that it really unsafe..some countries are shutting down bitcoin and other crypto-currencies because it may be used in illegal transactions since it has less information of the owner and it is not well regulated by those banks or countries..it will most likely have trouble with fraud and money laundering

Yes but I am not sure why the people are unsecure of the bitcoin I know how the bitcoin is increasing more and more I know how fast the bitcoin will increase more till the end of the world the bitcoin is growing and I know how the bitcoin will be the safe currency and a lot of the people are having the bitcoin at the same time I can tell you the basic value of the bitcoin to give the secure wallet the bitcoin so it is more secure than the bitcoin.

[Boriscarter1]

Yes I personally feel that there is a possibility of fear to the banks towards crypto currency. As its a question of their business as well as chances of possible cyber attack.

[joanshu]

Some banks feel btc as a threat as they think that it is taking over their business.

[acener]

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!

Well, they think it is unsafe because they don't know the safety precautions that the programmers put into it. I highly doubt that they have great knowledge when it comes to online world. This may be the reason they are afraid of it.

[dillo666]

Yes I am also thinking the same as banks are starting to fear bitcoin for the right reasons.  Big consulting firms like KPMG, Accenture, and Deloitte have started scaring the banks with stories of Kodak, Polaroid, and the record industry, that the banks are starting to be very, very worried that their business model is obsolete.

[Pujangga]

Of course afraid, when the customers run and do not want to use banks for the transaction will make the bank becomes quiet so that one day later could lose and eventually disappear.

[Alok_Yadav]

Banks are not scared of crypto currencies, they are only trying to keep safe their country's currency.
Instead of crypto currencies to make banks disappear, they will work together to achieve one aim.

I don’t think banks feat Bitcoin since they try to develop their own solutions with functionality similar with bitcoin. Especially banks got interested in the blockchain technology and a distributed ledger concept that lie in the heart of bitcoin.

[annanava]

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!

This is a normal reaction to the nature of cryptocurrency. Because like they are a decentralized currency, this means the no use of banks which causes such a big thing. The bans and declarations of many countries about it, it's just a response that tries to minimize the effect. However we still know that invest in cryptocurrency is amaizingly productive, overall on propthereum.io

[VinhPrep]

Yes they do cause when Bitcoin is legalized in any country it'll be the better choice for people to invest in cause the profit they can get from Bitcoin is much better than the monthly interest they can get from Banks so it'll make the amount of money banks get from investment decrease and it'll be a big lost for them and maybe it'll be the cause of Banks bankruptcy.

[InBTC4years]

Yes the banks do fear crypto but they love it also through Ripple. American Express today jumped onto Ripple.

[bncbnc]

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!

As far as i know bitcoin have a potential to replace bank thats why manye goverment alarm about bitcoinso thats why some goverment trying to ilegalized this  and banned this bitcoin.

But i do not think that it is so easy that bitcoin will replace banks so easily, still it will require a lot of time and hard work because still the users of bitcoin are very low, and i think that it can take more thank decades to replace banks as banks are still the first option to be use by the people for different purposes.

[Mei1418]

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!

Are you serious sir??

[UchihaRukawa]

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 guess they know the awaiting problems that cryptocurrency will bring upon them. Well, in my opinion, bitcoin and the cryptoworld is not made to bring down the banks but to work together with the banks. We can see that we cant do anything yet with our cryotocurrencies without converting them into cash, which we withdraw from the banks, especially to countries with very low knowledge about cryptocurrency.

[Ccexicocartel]

Banks are terrified because crypto eliminates what they're doing. Crypto is disrupting the world and the guys that used to hold the reigns are losing power.

[feiss]

Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.

[cryptadikt]

They're all getting on board now. Blockchain at least is a definite part of the future now.

[coachhip]

Banks are afraid of cryptocurrency because it would force them to innovate. The banks don't want to innovate for the most part because they are making good money and don't want change.

[Wingo]

Yes it is a threat to the banks, the efficiency of using crypto currencies is far from the cost of using banks as a mode of transaction. Banks are slower compared to cryptos which have a fast transaction confirmation, thanks to the blockchain technology.

[goaldigger]

Maybe the banks what us to prevent from being a victim of scams and not by being a bitcoiner per se. I guess they want us to avoid unnecessary things that can occur online.