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pisston
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July 16, 2017, 12:34:51 PM |
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Bitcoin is a new age more disruptive than that of today’s Internet. Disruption can be a good thing, especially when it affects banking, a failing set of business models which, for all the tweaks, have been virtually unchanged for millennia. Paradoxically, some banks are afraid of Bitcoin because it would force them to innovate.Bitcoin is but the most famous example of an emerging technology network with the potential to improve banking. It belongs to the new type of financial animal called cryptocurrencies,decentralized, secure money storage and money transfer enabled by the Internet.
To date, the whole popularity of Bitcoin depends only on the fact that a new user needs earning opportunities. It is this degree of popularity among users is very active. So I'm also very grateful to the Crypto currency and especially Bitcoin for the opportunity to earn. It was thanks to Bitcoin that I became more financially independent and more self-confident. |
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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pitiflin
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July 16, 2017, 12:43:41 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!
Most of the banks don't know what crypto currency is. Even if they know they are definitely not afraid of it because of the fact that crypto currency was invented only a few years ago and banks have Been there for More than hundreds of years. Even though a lot of people hate banks they go to Banks for their financial transactions as they trust it and a lot of people think that bitcoin is not trust worthy and they think it is complicated to understand when compared to banks. |
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hajimasan
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July 16, 2017, 12:52:54 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!
Yeah , this is the reality of the money making market , if one want to make more investment in his service or project then he need to prove the another services wrost , and I think most of the banks are doing the same thing here . Here In my country , the main government reserved bank state bank of India declared the Bitcoin and and another cryptocurrency are scam and with this they planned to make Thier own currency network ( that is totally copy of the blockchaun network ) . So these are showing what the banks sector want , and they want only more and more in the bank so that they can make big but they never lose anything . Well here in the current time people are wise and educated , so they knows that what should they do with their own money . |
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Victorycoin
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July 16, 2017, 02:53:17 PM |
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Humans fear to lose their jobs to machines. Machines are reliable, work 24/7 and ROI is way better compared to a human. So, of course, there is fear of something new, but we humans are able to adapt to new situations. Banks will use cryptos or slowly die.
Apparently the average bank is a business set up to make profits and they ordinarily would not mind turning 180 degrees to throw their weight behind Bitcoin since that's the future, but they fear sanctions and eviction by their landlords/masters, So the banks are really not against Bitcoin and cryptocurrencies in general, but almost all the central banks are and the reason for that is right in front of all of us. |
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nejibens
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July 16, 2017, 03:12:37 PM |
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Banks fear crypto currencies surely, regarding its fast growing lastly they fear it will be the most used currencies worldwide and that's isnt compatible with the banking system interests.
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ice098
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July 16, 2017, 04:15:44 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!
Most of the banks don't know what crypto currency is. Even if they know they are definitely not afraid of it because of the fact that crypto currency was invented only a few years ago and banks have Been there for More than hundreds of years. Even though a lot of people hate banks they go to Banks for their financial transactions as they trust it and a lot of people think that bitcoin is not trust worthy and they think it is complicated to understand when compared to banks. banks doest care about it for now, because it is not yet been legalize in many countries but sooner i think they will be afraid to bitcoin because many people will start using it because of the fast phasing of technology. |
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Reid
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July 16, 2017, 04:20:42 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!
Most of the banks don't know what crypto currency is. Even if they know they are definitely not afraid of it because of the fact that crypto currency was invented only a few years ago and banks have Been there for More than hundreds of years. Even though a lot of people hate banks they go to Banks for their financial transactions as they trust it and a lot of people think that bitcoin is not trust worthy and they think it is complicated to understand when compared to banks. banks doest care about it for now, because it is not yet been legalize in many countries but sooner i think they will be afraid to bitcoin because many people will start using it because of the fast phasing of technology. You got that right. They dont see any potential out of it that is why they are just ignoring it. Some banks did make a step to run a new blockchain for their own purpose but it seems like they cant perfect it or they see some flaws our of it. That says it all. Banks and crypto currency cannot be connected. A real time physical transaction cannot be connected with an online one. They might need a genius to make it work. How about they hire Satoshi. That is if he is still alive |
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jekjekman
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July 16, 2017, 04:24:57 PM |
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No matter what happens people will still use Fiat money and will not go all in crypto currency if they are investing right now because Fiat money/tangible money is a necessity at my own opinion so does banks is important for Fiat money.
I think they are not fearing crypto currency as for now because all of the money that go into crypto currency is made from Fiat money that came from banks also so why do they need to fear the money that they also produced.
They are just issuing a warning that is normal for the banks because they are not knowledgeable about the nature of crypto currencies and even its securities that matters most.
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Hellacopter
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July 16, 2017, 04:48:09 PM |
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I believe Banks fear crypto currencies for the long run, but actually most people are using fiat and even crypto currencies are depending in fiat and banking systems to deal with it, since crypto is not yet supported or legalized worldwide.
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De Suga09
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July 16, 2017, 05:15:59 PM |
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I think banks were having fear of cryptocurrency,Even though cryptocurrency were accepted by some banks,you cannot erase to their minds that cryptocurrency is not good for them,but it can really help.Thats why many countries does not legalize cryptocurrencies.
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Mia Wallace
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July 16, 2017, 07:15:39 PM |
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I believe Banks fear crypto currencies for the long run, but actually most people are using fiat and even crypto currencies are depending in fiat and banking systems to deal with it, since crypto is not yet supported or legalized worldwide.
Why should banks fear about the crypto currency market,we need the help of banks to purchase coins and so does everyone who are purchasing coins,so there is no way banks could fear about this development ,if banks are to stop everyone from investing in crypto currency then we will have a big problem.  |
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Jelks
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July 16, 2017, 07:39:07 PM |
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Not only albania Fear would be a wrong word. I think they don't view it as a threat so much (do remember, there is much more to banking than just what exists in the US), there are 220 countries and territories that have banks. Cumulative popular opinion is that bitcoin, at present is not a threat. It might be interesting, but not a threat, and nothing to fear.
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jak3
Legendary
 Offline
Activity: 1274
Merit: 1004
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July 16, 2017, 07:48:53 PM |
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I dunno what will be the correct statement here but banks are somewhat right because crypto currencies involve a lot of risks, as their fact that the price of a crypto currency is not stable. but there are some other valid reasons too like it can stop money transactions to banks and even governments. it also provides a lot of cool features like semi transparent network and everyone can implement their ideas into real life.
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Victorycoin
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July 16, 2017, 08:00:54 PM |
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Banks fear crypto currencies surely, regarding its fast growing lastly they fear it will be the most used currencies worldwide and that's isnt compatible with the banking system interests.
Don't think the interests of banks are set in stones, they're known to follow profits where they can be made. If it were as easy, they would have already rolled out a number of products based on the technology, but their wings are clipped by the government agents - central banks. Something worth noting is the fact that cryptocurrencies are digital assets and at one time or the other, a need to turn them to cash shall arise and that inevitably makes banks and fiats currencies indispensable in any complete cryptocurrency equation. |
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Gameroid
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July 16, 2017, 10:09:04 PM |
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I think banks were having fear of cryptocurrency,Even though cryptocurrency were accepted by some banks,you cannot erase to their minds that cryptocurrency is not good for them,but it can really help.Thats why many countries does not legalize cryptocurrencies.
i do not think that they may have any fear about crypto currency, in fact banks are not giving any importance to bitcoin as they care bound to their banks and i am sure that when government will accept bitcoin as legal currency then they will also start accepting bitcoin and will create their own wallet for that |
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aoihs00
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July 17, 2017, 03:57:59 AM |
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There is no reason to be afraid of banks. They are doing what they can within there rules and regulations. They have no authority over bitcoin or any crypto currencies as long as government states something about it. The decentralised nature of bitcoin is making it more secure from entities like bitcoin. The bank you speaking about must be afraid of loosing its assets or produce due to insufficient customers base. Lol.
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Barbut
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July 17, 2017, 04:17:04 AM |
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There is no reason to be afraid of banks. They are doing what they can within there rules and regulations. They have no authority over bitcoin or any crypto currencies as long as government states something about it. The decentralised nature of bitcoin is making it more secure from entities like bitcoin. The bank you speaking about must be afraid of loosing its assets or produce due to insufficient customers base. Lol.
I'm not sure how much you are aware that you also mentioned several good reasons why banks should fear from bitcoin. Bitcoin is a threat to banking system, with bitcoin we can skip bank dominance. Do we need to pay for storing bitcoins in wallet like we need to pay to the bank for having bank account? Do we need many documents for registration and do bitcoin charge us so big fees for money transactions in another country. Bitcoin is better then any fiat currency, and they know it, that's why bank of Albania is issuing the warning about bitcoin. Its not the first time that we hear something like that from the banks, and I doubt its the last time. Keep calm and continue to earn and save bitcoins, donnkt pay attention on this kind of news. |
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ladydark
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July 17, 2017, 05:22:31 AM |
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Banks are not scared of all crypto currencies and they are only scared of bitcoin.They think bitcoin as their rival.I think central bank is different from normal banks.Central bank is the head of all banks directly controlled by the government which in turn regulates other banks.For example,in india,Reserve bank has issued a warning to investors about the high volatility of crypto currencies.
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Pattart
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July 17, 2017, 05:50:40 AM |
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I think banks were having fear of cryptocurrency,Even though cryptocurrency were accepted by some banks,you cannot erase to their minds that cryptocurrency is not good for them,but it can really help.Thats why many countries does not legalize cryptocurrencies.
At this time it seems there has not been any cryptocurrency received by the bank as well as bitcoin. I think because banks would not want to accept the risk by receiving bitcoin. Certainly there will be many who take advantage of this to do illegal things. Such as money laundering with ease ? |
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mrayazgul
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July 17, 2017, 05:59:14 AM |
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Bitcoin is a new age more disruptive than that of today’s Internet. Disruption can be a good thing, especially when it affects banking, a failing set of business models which, for all the tweaks, have been virtually unchanged for millennia. Paradoxically, some banks are afraid of Bitcoin because it would force them to innovate.Bitcoin is but the most famous example of an emerging technology network with the potential to improve banking. It belongs to the new type of financial animal called cryptocurrencies,decentralized, secure money storage and money transfer enabled by the Internet.
To date, the whole popularity of Bitcoin depends only on the fact that a new user needs earning opportunities. It is this degree of popularity among users is very active. So I'm also very grateful to the Crypto currency and especially Bitcoin for the opportunity to earn. It was thanks to Bitcoin that I became more financially independent and more self-confident. Well, currently i do not think if the Bank has any issues with bitcoin because bitcoin is not deployed widely yet and it will surely take some time to be avaible everywhere. Banking system is well establishment and no one is thinking bitcoin a threat to banking system for at least a 50 years or so. |
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