Do Banks fear cryptocurrency

[shirazteam110]

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!

NO.. 
They will start accepting soon with in 2  or 5 year.. because bitcoin will make their work easy and quick

[alexsamudra]

Banks will be disturbed by crypto money, as they keep the state's money safe. Maybe crypto money will make the bank disappear, they will work together to achieve the planned goal.

[flag39]

http://www.newsbtc.com/2017/07/21/kosovo-gets-first-bitcoin-atm-despite-opposition-central-bank/

Albania and Kosovo are two countries but the same nation, you know, tricks of history, but Kosovo is ahead when it comes to new innovations   

[senin]

Banks are really afraid of the crypto currency, seeing it as a worthy opponent in the ordinary currency. At the same time, they realize that part of the market for crypto-currency services will still win and voluntarily yield, introducing new services for the purchase and sale of crypto-currencies.

[Konthol Ngaceng]

It's no secret that cryptcocurrency is a threat to banks, they are trying to keep up cryptocurrency development because if they open a business that receives cryptocurrency then the customer will switch to cryptocurrency and leave the bank.

[orions.belt19]

I believe not. Cryptocurrency is far from taking over banks, and they are probably issuing warnings only for the security and safety of the general public. Banks are still known to be secure despite the high fees, and I believe that people still trust and prefer to use it. Banks, however, should keep up with the pace of the advancement of cryptocurrencies and provide opportunities to the users.

[JasonXG]

I'm not so sure they fear it. Not yet anyway. They probably will when bitcoin is adopted to more mainstream use. Ita a threat to them because its simply better in every way. Anything a bank can do bitcoin can do better and cheaper and faster too. Its a losing battle for banks.

[investinator]

I'm not so sure they fear it. Not yet anyway. They probably will when bitcoin is adopted to more mainstream use. Ita a threat to them because its simply better in every way. Anything a bank can do bitcoin can do better and cheaper and faster too. Its a losing battle for banks.

Not really, bitcoin can't offer reversible transactions if you get hacked. It can't offer loans to buy a house/car etc (though other users could in theory. That is just to mention a few services that real banks offer to users. At the end of the day it is easier to use a bank than it is to use bitcoin.

[Osarman]

I believe not. Cryptocurrency is far from taking over banks, and they are probably issuing warnings only for the security and safety of the general public. Banks are still known to be secure despite the high fees, and I believe that people still trust and prefer to use it. Banks, however, should keep up with the pace of the advancement of cryptocurrencies and provide opportunities to the users.

I totally disagree with you. Bitcoins are posing serious threat to the survival of banks. Banks do fear crypto currency especially bitcoins because now many people are turning towards bitcoins to save their money. Saving money in the form of bitcoins assures more safety and bigger reward than banks do. Soon bitcoins are going to replace banks by their increasing fame and usage.

[Makka]

They really are to a certain extent. Bitcoin as well as the rest of the cryptocurrencies are invented as a reaction against the banking system. And since people are beginning to trust bitcoin more, there is indeed a reason for them to be afraid a bit.

[sobsitesearch]

They really are to a certain extent. Bitcoin as well as the rest of the cryptocurrencies are invented as a reaction against the banking system. And since people are beginning to trust bitcoin more, there is indeed a reason for them to be afraid a bit.

I think no, because it is also currency that bank able to adopt and it will not a threat for bank. Some banks are can be used to deposit and withdrawal our fund in bitcoin in the long run it will be full adopted then bitcoin will be part of bank system.

[jubalix]

banks have a function in society, but its due for reformation and competition. They are too big to really grapple with the implications of BTC tech, which will largely overtake them and make large parts of their functions redundant. The settlement layer which is sort of the transmission/gearbox of the bank just dropped out.

Debt issuance fractional reserve  is something BTC cannot do but, this is good as it will see the value of FIAT continually drop against BTC, to the level where there is nothing left to arbitrage in the efficiencies of the relative systems. On BTC end that will be the many alts coming out all the time.

[lucifochrome]

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!

It's not that they're afraid. Somehow banks do these kind of warning just so that people avoid it, reason for thay is because if people started to use crypto currencies banks will not be needed anymore and they will suffer a major loss. It is where their money comes from.

[Raphal]

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!

Basically, Banks don't need to fear of Crypto Currencies but if crypto currencies are legalized, they, banks, will have a shorter income, not much but it still gives risks to them.

[novaprime]

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!

Basically, Banks don't need to fear of Crypto Currencies but if crypto currencies are legalized, they, banks, will have a shorter income, not much but it still gives risks to them.

This will greatly affect the banks. They will lose many potential customers and lose a lot of profits from the bank. I think 2030 Bitcoin will be legalized because this is the era of cryptocurrency

[bajing]

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 banks give such statements because they have been distracted with the way crypto currency works. As we know bitcoin price may increase, that can attract people to invest in bitcoin but in fact the bank is not afraid of crypto currency because whatever will goes people will still use fiat money.

[ladydark]

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!

Banks not only fear crypto coins but they even think especially bitcoin as their main rival.The reason what they have feared for has come true and they have started to loose some percentage of their revenues due to bitcoin transactions.But central bank is like the main bank which controls all other banks of the country and it is under the direct control of government and it expresses just governments views and policies.

[Bunsomjelican]

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 there is possibility that some of the banks fear cryptocurrency. Because most of the theme in crypto world or bitcoin world was "Be your own bank" in this quotation sooner or later bank will no longer be useful.

[Supercrypt]

I believe not. Cryptocurrency is far from taking over banks, and they are probably issuing warnings only for the security and safety of the general public. Banks are still known to be secure despite the high fees, and I believe that people still trust and prefer to use it. Banks, however, should keep up with the pace of the advancement of cryptocurrencies and provide opportunities to the users.

I totally disagree with you. Bitcoins are posing serious threat to the survival of banks. Banks do fear crypto currency especially bitcoins because now many people are turning towards bitcoins to save their money. Saving money in the form of bitcoins assures more safety and bigger reward than banks do. Soon bitcoins are going to replace banks by their increasing fame and usage.

I agree with the statement that it is a threat to banks, because bitcoin is a business and in business you will invest money for trading and would expect more money to earn but depositing in the banks is not a business. Bank will give you a particular amount as an interest after a specific time period.

I think everyone will have to start a business through cryptocurrency instead of depositing amount in banks. So in this respect it is great threat to banks.

[Schuyler]

I don’t think banking institutions fear bitcoin at all. They have power and the backing of the government and big capitalists who owe them money. Banks play a big role in the economy and without them, bitcoin cannot replace what they do, at least not in the near future, I think. Crypto currencies have a long way to go before really making a big impact in the financial world, but things are a-changing and only time will tell if we will live in a world where the only currency is in digital form.