Do Banks fear cryptocurrency

[kokobaba880]

Not that they are afraid but i think they try to prevent people from investing on cryptocurrency. They cant stop people from investing on cryptocurrency that is why they panic since they cant profit from the people who put there money on bitcoin instead on their bank.

Yes I like your post you have mention one reason that why banks fear crypto currencies. The main reason is people has started their investment money into these currencies and the amount first which was deposited into the banks now deposited into crypto currencies and that’s why banks fear and they also fear when the point of acceptance comes.

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[Flodemaga]

I doubt banks are worryed with crypto currencies at all, since almost all of us even taking out the money from the banks will end to return to the bank to exchange the crypto into fiat, soo banks will keep collecting their fees and offer their services. Crypto isnt a big problem to the banks since we keep using and need the banks to cashout from crypto to fiat, even with already some companies providing bitcoin debit cards, it wont be enought.

[kriticko29]

Yes they do fear it. Due to many investments to cryptocurrency, Many banks lost their customers coz they deposited their money into bitcoin. When no one deposited their money to the banks they will be forced to file bankrupcy.

[hugeblack]

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!

Bank System Depend on proof your ID so that any service give you money without ask you to add ID warning about it.

if you see prepaid credit cards like crytopay when proof your ID you can use your card in any place .

So that i say big problem with Bitcoin you can use it without ID

[Mr.John19]

Central Bank of Albania said that people should afraid in cryptocurrencies, think if all people courage in cryptocurrencies and all people use bitcoin wallets, banks might be lost or might be bankrupt we know we said bankrupt the state of lack in particular or value. The central bank said to people because afraid to be lost or bankrupt

[Kikeeping]

It's a suggestion as well as a reminder, that cryptocurrencies are very risky because high fluctuations. They are worried about ordinary people taking the risk investing in bitcoins that are not yet understood by them about the system.

[ShadyMash]

i think so.because we don't want a bank to keep cryptos like bitcoins.we have safe wallets.we don't want interest for them because the value of them increasing rapidly.and when we talking about ICOs lot of companies raised fund via ICO for their projects.that is a big upset for banks.because companies don't go to banks to get loans for their projects.and banks don't like that.

[imking]

It depends to the bank strategy Banks can control the nature of the cryptocurrencies today, Banks only to control the cryptocurrencies in marketing strategy if also depend on the people because think not 100% people know the bitcoin. If banks can’t control the people to use cryptocurrencies the tendency of the banks will be bankrupt.

[darthmaul]

Banks are really afraid of the crypto currency because the crypto world is eating out their customer base. 

I like the idea of putting the bank as devil who is ready to eat crypto currency of government given them chance to do so. But that’s not possible because it’s big market and now many big investor have invested in it in great amounts. If they loose money then it will affect the national economy in indirect mode which no governing body will want to happen. So surely crypto currencies make the banks think twice about it.

[frowsiter]

I don’t think that I will be afraid of crypto currencies at any time because I live on them (almost) and trying to achieve big goals with them. If crypto was not there then I’m probably be a bad ass working around the clock like shit. Crypto currencies have given me freedom of choice and they gave me straight forward life. Truly you can say that I’m attached to it emotionally and I like it the way everything is working for now.


Central banks sucks. They never given us freedom to earn interest on our saving and always give out loans on heavy interest rate by using public money. How can we trust such institution. That’s bullish nothing else.

[Hotel_Prodeo]

If the banks customer continue run and prefer to use bitcoin then banks deserve to worry, I'm sure banks are also aware of this so they will continue to campaign using bitcoin is illegal and ask the government to banned bitcoin.

[GreenBits]

If the banks customer continue run and prefer to use bitcoin then banks deserve to worry, I'm sure banks are also aware of this so they will continue to campaign using bitcoin is illegal and ask the government to banned bitcoin.

At first, bitcoin was a way to make payments without banks. that was like 5950 dollar worth of price ago, however. it wasnt really a threat at the time; there was no real reason to actually pay attention to something that small relative a bank. since the price has increased so dramatically, banks feel threatened, as well as having to deal with folks trying to use them to cash out illicit bitcoin (they get penalized even if not at fault, if they facilitate the transaction. notice how every time we hit an ath, the fud from bank heads and investors starts to make the real news?

thats not a coincidence

[mdripon]

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!

You can save cryptocurrency without the assistance of the bank. so not need bank.as a result  as a result the bank lost its customer.and now cryptocurrency competition for bank. so i think it true.

[Newchanka]

Banks do not want competition and to them, bitcoin is competition. As more people adopt bitcoin, lesser money flows I to the banks. It sure is a threat to their sustenance and it'll get tougher for them as more people get to know and trust cryptocurrencies.

[thenameisjay]

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 the banks shouldn't be afraid if bitcoins because bitcoins gave their own platform they dominate. Bitcoin is more famous as a DIGITAL CURRENCY where as to banks chase gou for your FIAT MONEY. I think bank wouldn't and shouldn't break a sweat on bitcoins.

[bitalive]

Banks are not scared of cryptocurrencies, they are just trying to stay safe in the present situation and obeying financial laws. Banks will start dealing with cryptocurrencies as soon as Government takes a positive side.

[FDC1412]

Banks fear competition with either another bank or virtual counterparts. Since cryptocurrency is somehow the same as the actual currency it can do almost all the things that the bank do. And since cryptocurrency is virtual and computed supported, you can have all the support you need to make it stable and safe that almost nothing is impossible. Cryptocurrency improves as the technology improves. Unlike the actual currency in which you can say the after long years past, it became constant.

[tom101]

I think banks are not afraid of crypto currencies, the just hate crypto currencies because they are unable to control crypto currencies, and no matter how useful and how popular are crypto currencies, the bank won't collapsed

[Hazaki]

Banks have the upper hand in all world wide on Ewallets and Ebanks , and even tho that cryptos have proved themselves investment worthy and have been able to generate a lot of profits and crossing any percentage predicted, cryptos can never replace a real traditional banking system because those ones are supported by laws , governments and very powerful people that won't accept the fact of cryptos beating the banks because in that case those people won't have 12+ digits bank accounts anymore .

[sharpshot]

I don't think banks fear cryptocurrency yet because its only being used by a small percentage of the population.  Perhaps Electroneum might change that, as it will probably get more mobile phone users into cryptocurrency and that could be one way to get the masses involved?  I do think the banks are going to start fearing cryptocurrency soon.