Do Banks fear cryptocurrency

[deejhay]

Bank fears bitcoin yes, because more people are switching from banks to bitcoin. Its a threat to their saving and lending since they make money circulate through that. Thats whats also making pofit for them and since little by little, people are converting from cash to btc, the threat can be feel by the banks.

[romero121]

Banks fear much about bitcoin, and till date banks has faced a huge loss because of bitcoin. Cryptocurrencies were the financial support system of the future, because for the growing community advancement is a must. The recent cause of downfall too is also an impact of the fear from the banking community.

[ihsanskanzaone]

yes they are very afraid because the bitcoin is not in circulation, the exchange
 rate and the transaction is not regulated by the bank so the bank is worried
 about the high user of bitcoin transaction and will lower their bank transactions
and they are also worried because bitcoin is used as a currency exchange not
 just one country but all country and bitcoin may also be redeemed in the applicable
 valid currency in that country

[Savemore]

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 they are. Banks are really afraid to the cryptocurrencies. That's why they declare war against bitcoin. I know that they will lose many money if the bitcoin became more popular.

[Manuj]

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 should be the ones to adjust and not us. We are not in any way depending on banks. We are in fact going against them. Now, if they want to stay adamant and wage war against bitcoin and other cryptocurrencies, they will fail. They cannot kill crypto because the people themselves are behind it.

[Zuilhsa]

Banks are scared of bitcoin because of the new technology blockchain behind it. The decentralized nature makes it much popular nowadays that almost many countries are aware of it and some countries have legalized it. So if people starts to compare bitcoin or banks they will surely prefer bitcoin, this threatens the banking system.

[Barcode_]

In my personal opinion, I will say that banks are truly afraid of crypto-currency, basically who still needs to pay the bank a high telegraphic transfer fees for sending payment from one country to another country since crypto-currencies serve another alternative way as a payment options, in the future, the banking sector would surely cut jobs when more and more people are using crypto-currencies for payment.

[Wingo]

Yes, they would certainly do. The blockchain is more efficient than the banking system today, it is way more wider and faster. Though we need banks today, maybe sometime in the future, there will be lesser banks and more users of cryptocurrencies.

[ramsdaj28]

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, that bank is just afraid of cryptocurrency (esp. bitcoin) because they can see its potential. In the world of business, a company will make very move they can to beat their competencies. In this case, banks who are telling people that cryptocurrency is dangerous are making strategies to condition the minds of people and make them switch to their services.

[Proton2233]

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, that bank is just afraid of cryptocurrency (esp. bitcoin) because they can see its potential. In the world of business, a company will make very move they can to beat their competencies. In this case, banks who are telling people that cryptocurrency is dangerous are making strategies to condition the minds of people and make them switch to their services.

Banks are afraid of crypto currencies is not because they see the potential of bitcoin. Crypto-currencies are changing the global financial system which was built for the prosperity of the banks. Bitcoin is designed for people and of course it's not like banks.

[onrise]

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

I also feel that bank will certainly not like cypto currency because this will definitely hamper their business and growth. Remittances , Loans etc all can be now done via btc and this will take away their market share and growth earning prospects. May be some countries bank can adopt this technology and make use of the bitcoin to optimally utilized the people demand and seeing its future growth.

[vok-wok_hok]

I do not think banks are afraid of crypto currency because many people prefer to use ordinary currency and trust it more than crypto currency. Crypto currency is more likely to be an investment and will exist together with banks.

[panju1]

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

Just listen to Jamie Simon's comments on Bitcoin. He is the Chief Executive Officer of JP Morgan, the largest bank in the world. Supposedly, the smartest of the smart lot. It is clear that banks are going to fight Bitcoin.

[erick94]

banks can become very afraid of cryptocurrency currencies because if cryptocurrency can be a huge investment it will greatly affect customers who want to save to banks and switch to using the world of cryptocurrency as an investment.

[cryptonianz]

Yes! I personally believe that they indeed fear the blockchain, Cryptocurrency, Fintech companies as well as Ripple/XRP!

[NereuFajardo]

Bank dont like crypto currency because that will make bank disappeared but They will try to make their own token by using blockchain tech.

[BitAvrillis]

Of course, the few people at the top of the world can control the world with the tool called banks and if cryptocurrencies grow and grow, they loose that control. What do you think why some banks are causing dips and panics? They want to buy theirselves in and use crypto themselves.

[Renampun]

i think yes , we all know , although at this time we still need the bank because the bank where we get the money from the sale of bitcoin, in the fear later in the future, we do not need them anymore when doing the transaction ..

[xanxus.kun]

A big YES, they definitely fear cryptocurrency, blockchain which can hugely affect their banking system. Just think about it, you can do most transactions using bitcoin, like pay bills, remittance, transfer funds to love ones (local or international),etc in a fast and secure way, without any hustle, no more long lines, saves time and effort. this threatens the bank for they can't rob you no more. i believe in the future people will choose bitcoin over bank.

[bitcoinmasterlord]

A big YES, they definitely fear cryptocurrency, blockchain which can hugely affect their banking system. Just think about it, you can do most transactions using bitcoin, like pay bills, remittance, transfer funds to love ones (local or international),etc in a fast and secure way, without any hustle, no more long lines, saves time and effort. this threatens the bank for they can't rob you no more. i believe in the future people will choose bitcoin over the bank.

Except for fiat money transaction, the bitcoin will completely take over all national and international money transfer activity. If people started to use only bitcoins to do all their online transaction then definitely it will affect on banks and the bank economy suddenly come down. So I think if any govt comes forward to adopt bitcoin there local banks will not allow this proposal.