Do Banks fear cryptocurrency

[DoublerHunter]

Banks fear about the cryptocurrency because they can lose a lot of users and if the people will realized the importance of cryptocurrency then they will move to it. Banks are centralized and the money that in that bank is controllable by the banks while cryptocurrency is decentralized or means freedom and that is why people want for their money and that is also why banks are very afraid for cryptocurrency to get noticed by the people.

[nexus99]

Of course banks fear the possibility of people getting involved with cryptocurrencies. People may actually take this involvement to the next level and place all of their funds in cryptocurrencies. This is the worst case scenario for banks as they will lose a great number of clients.

[SMSabuj]

Yes they really are afraid of cryptocurrencies because unlike bank they have higher fees and it have some lots of requirements it needed, whereas in bitcoin and other cryptocurrencies it is fast and it has lower fees so if the cryptocurrency will boom they will not be needed that's why they fear it. But here in the Philippines some banks are involve in bitcoin transactions and I find it good.

Exactly right said. I agree with you. Personally taught some bankers. The said to me, At present world Banks fear to  Cryptocurrency. Because Every bank has some rule regulations. But Bitcoin has nothing. Cryptocurrency is faster than Bank system. And it's fees is also lower any other Banks. That's why they thing that one-day cryptocurrency will defeat Bank.

[faceoff97]

The central bank's duty is to regulate and control the countries wealth and currency. Thus if world bank issued warning they possibly seeing a threat to its countries  flow of money. Another threat to them is the moving of their users to cryptocurrencies, they are afraid to see that people are realizinh that they cam have the financial freedom. They see it as a threat because more and more are using bitcoin, so this may be their way of controlling and regulating.

[robeast007]

As far as i concern yes absolutely yes bank has a fear of these cyrptocurrency due to them bank channel are being totally closed the one who needs to take the help of bank to tranfer funds now with bitcoin n such more currency third party ruled out totally.

[salihno71]

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 still do not fully understand cryptocurrencies. Cryptos have a potential to completely change the way how value is exchanged between two entities. Most of the "official" financial institutions are still perceiving cryptos as a novelty.

[Pablo1881]

I don't think it's like that, since banks (although used to store money, offer different terms than bitcoin, mainly in the aspect of providing interest -stable or not- on invested amounts, while bitcoins stored offer a rise of value sometimes, but it's not like interest given almost stably mainly as a result of trading and investing the deposited money through bank professionals.

[ReLieD]

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-one will completely convert their money into crypto currency so obviously banks will always be necessary. The only thing that will happen is that they might get few customer

[Symphony_fr]

I think that banks are afraid of crypto currency and will put such a condition that it is legalized and it existed in the banking system at the level of ordinary money.

[adzino]

Bitcoin = total financial freedom.
Bank = lack of financial freedom with the banks being able to control your funds as they wish.
Which one do you think people will choose? What happens to the other option which people decides not to support. Think for yourself and you will know who  is  threat to whom.

[maydna]

i think maybe banks fear of crypto currency because crypto currency can give customer a free way to manage their own money and they can spend without any taxes or high fee. beside that, i think banks is learn something of crypto currency and in future, maybe banks will launch their own coins and offering to their customer as investment but the basic idea, they used crypto currency base idea.

[darthmaul]

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 don't think so we should be afraid of crypto involvement. It varies country to country and if Albania issues the warning later then it doesn't really impact other nations or states.

Crypto currencies might just get accepted as secondary currency of the world, and a back up asset for recession after gold. People's choice is governments or financial institutions first option to choose for their future development and currently bitcoin is that option. They know very well that crypto currencies are currently most valuable asset and if they go against it then they may face big crisis problems and revolts may be.

[SvenBomvolen]

Yes of course, cryptocurrency becomes a serious threat from the bank, when many people divert transactions to cryptocurrency of course this becomes a bad omen. They will not want to go to the bank and the bank will disappear.

I'm disagree. I don't see nothing alike between banks and crypto-currencies and how one can replace the other. So, by my opinion there is no reason to banks afraid crypto-currencies. I see that the era of banking is passing. Everything has it's peak and fall after that. So, I see that banks are cutting their activity and some new option come for people's use.

[carlisle1]

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-one will completely convert their money into crypto currency so obviously banks will always be necessary. The only thing that will happen is that they might get few customer

that's right if more people learn about crypto's and how this system will works along other currency they will think about trying it and if they enjoy their earnings they will invest more and the banks will be having some problem with that If their customers start withdrawing their money and start converting to cryptos.

[matuson]

Yes of course, cryptocurrency becomes a serious threat from the bank, when many people divert transactions to cryptocurrency of course this becomes a bad omen. They will not want to go to the bank and the bank will disappear.

I'm disagree. I don't see nothing alike between banks and crypto-currencies and how one can replace the other. So, by my opinion there is no reason to banks afraid crypto-currencies. I see that the era of banking is passing. Everything has it's peak and fall after that. So, I see that banks are cutting their activity and some new option come for people's use.

You yourself have denied your own words. The banks are living due to the fact that attract money to deposits and resell them in the form of loans. The interest on deposits is very low. It is not always even cover inflation. Now there is an outflow of deposits in the side of crypto currency. It is death for the banks. That you do not understand?

[Xester]

I don't think it's like that, since banks (although used to store money, offer different terms than bitcoin, mainly in the aspect of providing interest -stable or not- on invested amounts, while bitcoins stored offer a rise of value sometimes, but it's not like interest given almost stably mainly as a result of trading and investing the deposited money through bank professionals.

I agree with you.  I do not think that bitcoin or digital currency will be a threat to banks.  Especially that here in our country, banks allow to be a medium to buy bitcoins.  My wallet in bitcoin allows me to buy bitcoin through banks.  So I think banks will not be threatened by digital currency considering that all the cash will come from the bank.

[filharvey]

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!

Central bank is the head of all banks controlling and regulating activities of all the other banks in the country.It represents and implements the government's policies.It is a formality of such bodies to issue a warning when a new economic system or payment system arrives.For example,in india,the RBI(Reserve Bank Of India) also issued a warning about volatility of crypto currencies,but now it has changed its stand after indian government's decision of legalizing crypto currencies.But banks do fear about crypto currencies and they see bitcoin as their main rival.

[erickkyut]

I don't think that banks are afraid of cryptocurrencies. Banks will be banks. They are very different with cryptocurrency. Maybe they are just being cautious because Bitcoin and other altcoins are really risky. They just want to remind us to be extra careful. There's no harm if we will be more careful.

[Pleione527]

I don't think banks will be threaten by cryptocurrency because there is no reason for them to fear it. Banks has a stable position in the economy and I think they play a major role on it while cryptocurrencies were just created as part of new technology it opens up the idea of paperless money but not to eliminate banks.

[Kevondo]

As far as i concern yes absolutely yes bank has a fear of these cyrptocurrency due to them bank channel are being totally closed the one who needs to take the help of bank to tranfer funds now with bitcoin n such more currency third party ruled out totally.

you are right because now a lot of people are using bitcoin payment and they are trying to migrate their money to the bitcoin instead of keeping it in the banks because keeping your bitcoin in the banks will not give you so much profit bit could be some dollars but it will happen after decades and if you are using bitcoin then you can easily earn good money even in short time so I think people would prefer to use bitcoin saving instead of banks and it is decreasing the importance of the banks.