Do Banks fear cryptocurrency

[C0smetic]

Absolutely banking institutions fear cryptocurrencies because it is some thing they do not comprehend then one that's making these to change how they think, and oh young man will they nothing like alter, orthinking.

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[zeingrind777]

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 do not think we should be afraid of the bank. I think the bank is afraid of crypto because if the public uses crypto the banks will be lonely and threatened with bankruptcy

[markleal]

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!

Hi there flag39! First of all I would like to clarify that what we are talking about is "Central Bank" and not just an bank. In my opinion they don't fear about the cryptocurrency given the fact that it could hardly replace the fiat. Based on the statement I think Central Bank is just doing their jobs which are to regulate, manage and supervise the country's exchange. One of their key goals is to prevent people from investing in ponzi schemes which are common nowadays which took advantage of the cryptocurrency. Another key issue is that Central bank has no direct control in the cryptocurrency system that could become the vessel for money laundering, tax evasion, and other unlawful act.  

[anon007]

I think banks will adopt cryptos and soon we can store out BTCs in banks all over the world.

[Xervo]

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 banks will be afraid of crypto currency for many reasons. Crypto currency is now much more profitable and safer than banks. Money transfers in crypto-currencies are faster and less costly for commissions.

[Raisa263616]

There are no banks in the world for this cryptocurrency . there is no parmit for digital currency. I think no need any banks or paper for cryptocurrency.online wallet is enough for them.thank you.

[Mumbeeptind1963]

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 many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

No bank dont fear about cryptocurrency because they have rights to control it, i think we must feel fear if digital currency have own bank, if that happen it was not safe anymore to store our coins, because it can be control  or can stolen by some hackers or greedy people.

[dawoodkhan97]

I think banks are not afraid of Bitcoin, but what they
do fear is the block chain technology that could literally
change how this world works right now.

Some disruptive technologies in the past are Internet,
Email and now all this about block chain technology and
how it could evolve our lives!

[Mila888]

For the bank, it would be unprofitable for the population to deal with the crypto currency, as well as the state, they can not control bitcoin.

[cjinny]

Banks only want to give warning to customers and society not to use digital currency that harm banks. They are threatened with the presence of digital currencies such as bitcoin, their market share such as deposits, savings plans, credit cards have been rivaled by bitcoin investments.

[finlandais]

Yes, banks do fear crypto currency because digital currencies are now days rising and overshadowing the banks.Let us talk with an example,Bitcoin is rising nowdays and people are using it for investing their money instead of banks .So banks are taking bitcoin as a competition .So yes banks do fear crypto currency.

[Daektum]

Probably banks will be afraid because banks can generate income from transaction fees aside from lending interest. And if happens that bitcoin would spread all over the world and all of us used bitcoin the banks income will lessen also. Some of bitcoin transactions don't have fees or if have but smaller amount compared to local currency that's the thing they are afraid off.

[squallw]

With Bitcoin we dont need banks, we are our own bank.
So the bankers are afraid to lose your money.

In my country, the banks are on top in the list of highest profit companies. Fees and more fees, taxes and more taxes every day and very high interest rate.
We dont need them anymore.

[lance04]

Cryptocurrency might be considered as the world's largest and known cryptocurrency. Banks are just the one who generates money and a country's currency like Philippine Peso, US Dollar, etc. Banks might went down its system when cryptocurrency became the world's currency. Why? Because people who knows bitcoin might invest and deposit thru bitcoin wallets and remittances will have greater chance to get opportunity to send and receive payments from bitcoin. Banks can also send and receive payments from it, but it has limitations because of country's laws and regulations upon it.

[Theta Labs]

Of course, they are a threat to their business model. Them adopting blockchain is trying to co-opt cryptocurrencies.

[CryptoClown]

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. Of course since they don't have a control over crypto currency they will surely make any news even if its negative just to degrade crypto so that people especially their clients/investors/depositor just stays with them and not entertain crypto currency in their lives.

[WadeAdam]

They may worry because it will lead to major changes... but I think they will still be around and plenty of people will still use fiat money for a while.

[GamesBooster]

Existing banks are very reluctant because cryptocurrency is very secure and deals more quickly than banking systems. In addition, the government can not collect taxes from income from crypto.

[Sanu Simon]

Existing banks are very reluctant because cryptocurrency is very secure and deals more quickly than banking systems. In addition, the government can not collect taxes from income from crypto.

Banks might be reluctant of the cryptocurrency upon certain features similar to the taxation, real time confirmation and serving the community in the decentralized platform without flaws. Now banks show interest on adopting the technology to make their service much more effective.

[kush14]

If i am annowner of a bank i will  have fear of crypto currencies because of many people can earn money from this without the help of a bank