Do Banks fear cryptocurrency

[Zongxian]

Yes they do because they know that people will not trust the bank and will invest all their money in bitcoins so they dont make any profit anymore and that is why the banks actually fear bitcoin because it is free and it is our own and not the banks money.

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[GreatOrchid]

The FMI told in a conference that nobody has to be afraid of cryptocurrencies, you can check it on the internet, i think that it was the director who said that, probably this is the reason of why the price increased by more than 5% today, it is a good explanation. Anyway, she was right, and banks should not be afraid of it, they only need to acostumbrate to it and adopt their technology in order to make cryptos and banks more advanced

[rivoke]

There are two different things so why they must fear each other while they can't help each other
If government legalize bitcoin and there is a bank of bitcoin, bitcoin will broke it's decentralized paradigm because they are control by government not peer to peer anymore

[freebutcaged]

Where do you think banks get their money from mate? people are giving them money, if people decide one day to stop using banks and instead be

The banks by using cryptocurrencies, banks are fucked and there is nothing they can do to change their minds, they're terrified by the fact but are

Happy that cryptocurrencies are public and anyone has the chance to control the whole market if they are well invested. they are currently buying

Bitcoin, price shows there are billions of dollars being invested, normal users could never invest so much.

[dasdo]

Of course banks are afraid of crypto currency. After all, this market is able to bring to its depositors hundreds of times more%, that the contribution to the bank for annual payments. + Crypto currency is becoming an increasingly safe way of storing funds. They can be withdrawn at any time and exchanged. And banks have the conditions of storage without premature return.

[Sasuke102001]

There is no reason for the common people to be worried about Bitcoin. it is the government who is actually getting worried about Bitcoin and the reason is if Bitcoin trades start taking place in huge numbers in a country, people very much use bitcoins rather than their national currency the government may face problems and won't get any taxes as they won't have control over Bitcoin. So it is propaganda by the government of your nation most probably to resist people from using bitcoin. Any government would not like the above-mentioned scenario to happen in their nation.

[KroFly]

Of course banks are afraid of crypto currency. After all, this market is able to bring to its depositors hundreds of times more%, that the contribution to the bank for annual payments. + Crypto currency is becoming an increasingly safe way of storing funds. They can be withdrawn at any time and exchanged. And banks have the conditions of storage without premature return.

Banks are afraid of crypto-currency due to the fact that it takes customers from banks. This can leave bankers without earning. I think that in the future banks will fight for each of their customers so that they do not go into crypto

[senne]

Banks are afraid of loosing their funds and decrease in the profit of their bank, other than that I can't think any harm that bitcoin can cause to banks. Bitcoin is just peacefully helping people to store their money safely and decentralize which means the value of currency is not in the hands of few people. All these factors and much more attracts them towards Bitcoin thereby reducing the profits of Banks.

[pginvest]

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!

Talk to Jamie Dimon, he has obviously recently gone on the offensive and is giving it everything he has got to try and rubbish Bitcoin. I don't think he would necessarily be doing this for no good reason, the question is, is it out of fear - or is he manipulating the market in some way?

[veraoktav127]

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!

now that many people and companies are doing bitcoin business, of course they have much progress to secure the bitcoin business system so we do not have to be afraid and continue to collect bitcoin

[bob123]

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 might be scared of BTC a bit. But this shouln't be such a big problem with governments on their side which can regulate/forbid BTC in almost no time.
The real interesting part for Banks is the Blockchain-technology. And Banks will (for sure) switch to Blockchain technology.
But wheter this will be decentralized or not.. can't say today. Probably they will create their own crypto currency with a "centralized blockchain".
Paper money is not what banks want to deal with. In addition to that, smart contracts are getting more and more interesting since you can handle loans/interest without the need of a person who is controlling if everything works as intended.

[Evilmorty69]

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 should afraid bitcoins Because it’s alternative currency and btc don’t need banks. So maybe in future all of us will use bitcoins.

[Crypto1992]

Obviously.Because banks wants you to keep your money in their lockers not anywhere else thats how they make money.If you keep your money yourself then what are banks for.This is the way they think and every bank doesn't like it.

[Kriskazy]

Yes they do atleast in this part of my country, Nigeria. I do not understand why Cryptocurrency serves as a threat to them, it is really sad. It might be the phasing out of the normal banking transaction and incorporating the cryptostyle making them lose customers and money

[bitctrimor1]

I think it's a case to case basis. Banks can fear cryptocurrencies because it can affect their customers, by way of people choosing to instead of putting their money in banks, just keep in wallets, where cryptocurrencies are placed. However, on the one hand, it can be a part of their services to offer people a more reliable and safer wallet to store their coins, which can be a big business venture come the time when bitcoins gain more and more popularity worldwide.

[Envrin]

Of course banks are afraid of crypto-currencies and their technologies, such as Blockchain. After all, thanks to such technologies, more transparency will appear in the banking sector, the prices for transfers will fall and all paper formalities will not be needed. And in general, what for now banks are needed, if you get more interest from your investments in crypto-currencies to your capital.

[barabut]

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 banking system is changing, currently the banks are the intermediary trustful institution like we have an escrow here same structure, now system started to change or replace with bitcoin in general

[bitcub]

Hi, banks do not fear crypto currency, infact they are using it silently. Have you heard, XRP? Some banks are already using XRP (ripple) in replacement of their swiftcodes. So the transaction is faster and instant.

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!

[Freezingel]

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 bank will be afraid of it, what are they gonna do if people stop keeping their money in the bank and put it into bitcoin instead. They won't have the money to play around (giving credit or other things). Crypto is also more transparent in everything, from transaction to people's account.

[rodskee]

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!

yes all bankers fear and hates about the new digital cryptocurrency the new generation of the hashing technology they are possible to replace the fiat money into favor in the cryptocurrency, cryptocurrency being part of the new technology fast to grow into the currency world bankers afraid and insecured because cryptocurrency fast to accept of the people.