Do Banks fear cryptocurrency

[izanagi narukami]

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.

If bitcoin become valid currency than it will compete each other since there will be same amount of demand for bitcoin
But at the moment, it's difficult to see bitcoin being accept for all country especially when Ransonware issue still trending

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[aTriz]

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!

That bank was probably feeling threatened by Bitcoin and crypto currencies and felt like they had to make a statement regarding this. And their fear is exactly what I would have expected, the banks are not just brushing Bitcoin off, they are acknowledging it as a real problem that could severely damage their business. But Bitcoin hasn't become that mainstream yet so it is impossible to say that Bitcoin will overtake the banks now, but in the future that is definitely possible, especially with our every growing technical world, Bitcoin seems like the ideal currency.

[radamiel]

Banks should be fear with cryptocurrency, because cryptocurrency development is so rapid and could replace the current banking system, bank systems are now quite old-fashioned, unsafe and costly to maintain and use them, with the presence of bitcoin and blockchain systems, naturally if the bank system This time should change and may use a blockchain system

[Fredomago]

Banks should be fear with cryptocurrency, because cryptocurrency development is so rapid and could replace the current banking system, bank systems are now quite old-fashioned, unsafe and costly to maintain and use them, with the presence of bitcoin and blockchain systems, naturally if the bank system This time should change and may use a blockchain system

its the reason maybe why bitcoin are fallen right now maybe investors playing really safe between banking and cryptocurrency, as we knew possibilities that bitcoin can put the bank business at risk, better to invest while its really cheap.

[MeridianMDN]

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 just a lack of education.

The Bitcoin community in Albania may need to group together and liaise with the banking community to spark dialogue which is so clearly needed.

A country cannot be commited fully to global trade if it is against a system that is as enabling as the blockchain.

Frankly, the blockchain is to globalisation what electricity was to industrialisation

The Albanian central bank may be in need of proper advice and education as far as in the realm of the blockchain and digital assets in general.

[Prodigan786]

I think people should not afraid about bitcoin actually it is the best thing happens for people . Banks has to afraid because it will reduce their income as well as profit . In both ways one for fund transfer charges second the amount holding in bank converted to bitcoin so there will be shortage of funds in bank.

[ModGirl]

Banks should be fear with cryptocurrency, because cryptocurrency development is so rapid and could replace the current banking system, bank systems are now quite old-fashioned, unsafe and costly to maintain and use them, with the presence of bitcoin and blockchain systems, naturally if the bank system This time should change and may use a blockchain system

its the reason maybe why bitcoin are fallen right now maybe investors playing really safe between banking and cryptocurrency, as we knew possibilities that bitcoin can put the bank business at risk, better to invest while its really cheap.

I am in agreement with you. Bitcoins are posing big threat to banking business. The emerging unstoppable digital currency is attracting masses all over the world. Especially the decentralized nature of bitcoins is highly attractive for investors. In the near future, the number of banks will reduce drastically in the developed countries.

[Phyton76]

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!

Obviously it is because it is easier to use than the real cash so i guess bitcoin will become more popular in the country and life will become more easier when it come to hightechnology and bitcoin is one of that so i guess bitcoin will be popular in the future until no one is interested in banks.

[Sarah08]

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 it is because they are banks and they advertise the real money in the people bitcoin is a new kind of currency and it is more hightech than everyone think so if no one will use a realcash they could use bitcoin wallet as a bank and also a investment greater than banks banks will disappear.

[BartS]

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!

They are afraid but they are not going to say it openly, the best way to know that is by their actions, since they are recommending for people to not get into bitcoin because it is to unstable then we can safely conclude they are doing this not to help people but to help themselves.

[Tubig]

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!

They warned the people because if people patronized crypto currency, banks will lose their business.As we all know, digital currency doesn't have to  deposit.You have your encryption or safe.

[rb26]

In my opinion, banks should really fear cryptocurrencies. This is because they do not have any controls over these kind of currencies. These are decentralized that's why they cannot control and influence its production and transactions. Patronizing cryptocurrencies could end banks' operations. Unless they can find a way on how to make business out of it. But nonetheless, cryptos is a real threat for a banking businesses.

[konradp]

Bitcoin is most famous example of an emerging technology network with the potential to improve banking. It belongs to the new type called crypto currencies, i.e. decentralized, secure money storage and money transfer enabled by the 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.

[lonelygrimm]

Banks warning people not because they lose their income from us, but because the crypto sometimes become chaos and make lot of people lost money, especiallly for non crypto news followers. Banks want to support their country to control money which means they want more stable currency, not effect people money so much or so fast like cryptocurrency that can make someone lose money so much, the reason they warn us because they just want us become more wisely with our money

[IamAltcoinfan]

Banks are really afraid of cryptocurrency because of the nature of this they will not get profit because there will not be huge investment as well as they won't get any transaction fees and other hidden charges from customers.

[ivrynx]

banks do fear cryptocurrency because it is not part of their system, they don't offer it, however banks are aware of it. they fear cryptocurrencies because they cannot regulate it and the value is much higher than they expected. banks might in time want to have cryptocurrencies, but that will be a long process.

[JRoa]

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 not. Banks will never be afraid to all of the cryptocurrency.

[Dudeperfect]

Probably some banks are worried about Bitcoin & crypto currencies but I think there are some banks who are understanding the concept very well and realized that this is something that is going to transform the financial lifestyle in the future and it is unavoidable thus some banks started testing their work environment using blockchain and trying to adopt the change that is coming in their way.

* ICICI Bank executes India’s first banking transactions on blockchain in partnership with Emirates NBD.

[jago25_98]

Bank and governments are afraid of crypto. Several banks are developing their own block chain at the moment. They know if they don't catch up they will loose in the end.

[Ayiranorea]

Bank and governments are afraid of crypto. Several banks are developing their own block chain at the moment. They know if they don't catch up they will loose in the end.

That's not the true factor, because there is no reason for the banks as well governments to fear of the cryptocurrency. In specific if governments feel bad about bitcoin, surely in a short time period governments would have reacted in such a way to abolish it. So I think banks might have faced big loss just because of digital currency growth, for the same I don't think it fears.