Do Banks fear cryptocurrency

[Mobshady24]

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!

same with the central bank of the philippines or also known as bangko sentral ng pilipinas. Government legislators has not yet impose any taxes but the central bank issued a statement regarding crypto currency, i think it is a right move on their part since a lot of people now are shifting towards digital currencies which is a lost in part of the banks and other businesses as well. There are legal cases filed against the legality of the bitcoin in the us but the verdict are it is a legal tender so we should not be afraid of it. Lot of personality and businesses are trying to shutdown so it is just a move to take down bitcoin.

[Doms]

I don't think banks are threatened by crypto currencies right now. It is very clear that crypto currencies only serve a small market compared to banks which cater to multinational companies with huge capitals. But that might change once people start to realize what advantages they can get from using crypto currencies rather than dealing with banks. Having control over your money is the one big upside that bitcoin has, but some people tend to abuse this which lead to money laundering and illegal activities.

[Darker45]

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!

We need to be a little apprehensive of the banks' movements as they are still trusted by the huge majority of the people. And if the banks will say avoid crypto especially in a country where crypto has not yet established its reputation, people might take it as the best thing to do.

[Jombrangs]

We dont need to be afraid !! the banks should!! BITCOIN is a big threat for the banks because people now dont deposit their money through bank now a days instead they put it on investment at bitcoin and some other ICO for they know that the money really moves fast and can get big  percentage in return.. unlike in bank you will wait for years and just a single percent or less to come with !

[BurhanPSG]

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!

there is this possibility just a trick to make everyone afraid to jump in bitcoin world.
but if we can take advantage of opportunities that exist, of course bitcoin will be very useful for all areas such as economy and payment in a country.

[JaredStein]

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!

What do you think?? The Finnish Central Bank said Bitcoin is unregulated and shouldn't be regulated. There are going to be different sides but Bitcoin will remain the same.

[winterland]

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!

The banks are not afraid yet, bitcoin is still not a threat but they are beginning to notice that bitcoin is not a fad of a few nerds and geeks, bitcoin is a serious contender and in ten years it can become a real threat if they do not do anything about it.

[dasher797]

Bank fear to anything that pose a threat for their business, not only bitcoin but also other investment.

[1WorldOnline]

I believe that they will adapt to this change in the economy. Sure it is going to disrupt their power at first, but just through every change in the past they will change to find the best way to make money. No doubt in my mind.

[Chairul Muttaqin]

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 they are scared, bitcoin is their direct competition, especially now since it is getting so much popularity, banks are definitely getting scared of bitcoin now. Banks are losing client now due to bitcoin and losing clients is definitely not good for business

It is a big loss to the banks. They can't sustain their company if there is no money coming inside, they totally dependent on the number of transactions be made daily. It is very scary if they just release their money without having a benefits on it.

if most of bank move to use bitcoin it will be big threat for bitcoin due to income of bank is their customers. so they are afraid if bitcoin collapse them. Bitcoin is new concept of currency that does not need bank anymore.

[Ilegendph]

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!

Ofcourse they would say that , because by the time bitcoin is stable and can accomodate the transactions of the whole world, it would replace every banks in the world as it is more convinient, secure and most of all cannot hack unlike bank systems today that if their IT sold the information then that company would be bankcrupt.

[Risktaker31]

Banks are not afraid on bitcoin or other cryptocurrency they just cant control the circulations of bitcoin on the market. Because of bitcoins dezentralized and peer to peer transactions features theres no nees to go to a bank.

[MiF]

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!

For now they will do every thing  to prevent the use of bitcoin because it will affect their nature of business as a competition of banking services from sending money abroad fees, money changing fees and other bank transactions that will required fees. Using bitcoin it will only required minimal fees specially in bulk convertion from bitcoin to paper money transactions. These fees is one of the life line of the banks that are depending too much in fiat.

[SmokeMcPay]

Banks are agains't everything that may " hurt " the economy.
It doesn't matter if it is crypto or sh1t, as they feel under pressure they will always try to punish it.

[ClvrGmr]

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!

Actually there is nothing to fear about. Though bank has established their trusted reputation all over the world, I don't see it as a threat but more like of a competition. Since cryptocurrency and banks are on the same boat, it is natural for them to compete to increase each of their revenues. In my point of view, the Central Bank of Albania is just doing some dirty talk to our very own cryptocurrency to discourage people from investing to it. Maybe people on their place are investing more on cryptocurrency and they are being alarmed to this matter. So basically don't be threatened, just make a good choice when investing so that your money won't be wasted.

[In the silence]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies.

Well cryptocurrencies may put banks to thier down side. Due to no cost of puting your money on your wallet (paper wallet). Rather than spending some time on keeping your money in the bank with low interest.

[eleah24]

I would probably say yes to it because if the cryptocurrency world has over powered the banks in all the countries there won't be in need of them since in cryptocurrency it is more efficient to store or save money unlike when in banks that it is too time consuming and there are lots of documents but with cryptocurrencies with just one click it's finished by then .

[DoublerHunter]

I would probably say yes to it because if the cryptocurrency world has over powered the banks in all the countries there won't be in need of them since in cryptocurrency it is more efficient to store or save money unlike when in banks that it is too time consuming and there are lots of documents but with cryptocurrencies with just one click it's finished by then .

The only thing why people choose to be with bitcoin is because of the interest rate or possible return that they might get like for example, in bitcoin, you can earn up to 10% in just a few weeks while in banks you need to wait for about a year before you get that or earn that 10% return for your investment which is a boring return for a long term investing.

[Schocksen]

Yes. If they are smart they will use it for their business but i think they are to scared and will fight against it.

[Bitcoincole]

I would probably say yes to it because if the cryptocurrency world has over powered the banks in all the countries there won't be in need of them since in cryptocurrency it is more efficient to store or save money unlike when in banks that it is too time consuming and there are lots of documents but with cryptocurrencies with just one click it's finished by then .

The only thing why people choose to be with bitcoin is because of the interest rate or possible return that they might get like for example, in bitcoin, you can earn up to 10% in just a few weeks while in banks you need to wait for about a year before you get that or earn that 10% return for your investment which is a boring return for a long term investing.

I don't think the banks are afraid of spreading cryptocurrency maybe its just a warning to them for losing of money saving and or depositors but there is a little shady on it because banks are already knowledgable of adopting new process of making money like digital currency now.