Do Banks fear cryptocurrency

[Cholo003]

With their main purpose a storage institution and money controlled,  ofcourse they would feel threatend. If cryptocurrencies became more well know their main purpose would soon gonna be storage for gold and other jewelries. And also gonna be an exchange center.

[Haslett5236]

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!

they are protecting people's money actually  a lot of scam now using cryptocurrencies

so we need to  Keep keen eye when invest a coin, banks are not afraid of cryptocurrency

because now cryptocurrency not strong enough

[barabarian1]

yes. bank afraid with bitcoin. in my country they afraid not popular or not be place that be destination of many people. and it make bank decrease their income, make them disappear from people thought.

[Chanock]

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!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

Yeah you are correct because crypto currencies is possible treat to the banks. Owners of banks are afraid to digital currencies because there possibility people did not need banks to save money. Through digital transaction banks are no involvement and no hazel in depositing money and withdrawal of money. Digital currencies can be save without banks transaction and less hazel. That's why banks owners are afraid in crypto currencies.

[shalnark]

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!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

Yeah you are correct because crypto currencies is possible treat to the banks. Owners of banks are afraid to digital currencies because there possibility people did not need banks to save money. Through digital transaction banks are no involvement and no hazel in depositing money and withdrawal of money. Digital currencies can be save without banks transaction and less hazel. That's why banks owners are afraid in crypto currencies.

Not totally fear to crypto currency, because more capitalist are choosing bank instead of bitcoin because they all know that bank is more secured than bitcoin. Yes is true that all transactions circulate to bitcoin is more easier than bank. However bank was offered insurance for the security of money to their clients, while bitcoin is not. In addition crypto is more threat than bank especially to the thieves and hackers.

[FaithETH]

On one hand, central banks want to protect their country's currency and monetary independance, but on the other hand they are also afraid of loosing their power. It's like being a king without a crown, there's an indicator of power and money is the bank's one. It isn't in their favour to just let people be that independant, they want the dosh too.

[rainbow169]

Do Banks fear cryptocurrency? That's a very good question. You can see the CEOs of banks coming out one by one to give their thoughts on bitcoin and how they think its a massive fraud. Why it's not the company like coke cola making such complaints because there are so much at stake for them. Currency, Trading, investment, ICO, crypto currency led by Bitcoin is disrupting banking in every aspects. They say because they are seriously concerned.

[xBitHodler]

Banks are afraid of cryptocurrencies and we shouldn't be surprised. Bitcoin allows us to become our own banks, we no longer need 3rd party to keep our funds secure. The only purpose of banks in the future could be loans and acting as an exchange. It will be hard to replace paper money with cryptocurrencies mostly because of banks. They are afraid of being ditched.

[grermezter]

Banks are indeed very fearful of bitcoins because since bitcoins emerged and people realised that they could make money out of it, they have started saving their money at banks and they are rather saving it in bitcoin wallets, since banks need money to operate and they are having less and less customers, they are actually fearful of bitcoins making them lose all their customers.

[luigidosado]

Banks don't fear cryptocurrencies because they are a different thing. Though the rise of digital currencies may affect the economy of the banks, it won't affect that much. Banks holds the money of the majority of the population. They create and regulate money to the people. But as more and more people discover the use of cryptocurrencies, it may start to affect the budget of the banks, banks will possibly start to allow the use of cryptocurrencies in the fear of losing all its money.

[KingoftheGiI]

A mere Inchcaution" does not automatically imply they're scared on some thing as also they are the main bank of Albania meaning they are managed through the federal government issuing an alert to the citizens is common process in managing the deficits they'll take on scams and other alike activities, it is usually not the same as prohibiting the cryptocurrency to become use by its people. Banks have the ability to adapt and they can adapt quickly and take it his or her advantage.

[popo0709]

well some banks says that it really unsafe..some countries are shutting down bitcoin and other crypto-currencies because it may be used in illegal transactions since it has less information of the owner and it is not well regulated by those banks or countries..it will most likely have trouble with fraud and money laundering

[Rishabh riyz]

Banks have many faces
They are not actually scares from BTC because BTC has always been beneficial to them , people who use btc as an asset eventually convert them into their native currency by depositing it into banks by an indirect way .
In my opinion the only thing for banks to fear is when people understand the main Moto of BTC of giving financial freedom , and stop converting BTC into their native currency.
They may give negative trusts to BTC so that people Stay out of it and never get to know about the advantage of BTC .

[MissingSmile]

Yes, they are simply scared of what it is growing to be. Judging by a relevant video I watched recently, our main ba have already set up a pnnel to check out the applications of the blockchain and Cryptocurrency in itself and just how it may be used for use. A buddy also told me that he fears for the people employed in banking institutions at the moment with things are going, guys might quickly be not having enough financial institution work soon. I guess the sooner the better they start the adoption in order to have everybody together.ak

[HalfDeck]

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!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

Yeah you are correct because crypto currencies is possible treat to the banks. Owners of banks are afraid to digital currencies because there possibility people did not need banks to save money. Through digital transaction banks are no involvement and no hazel in depositing money and withdrawal of money. Digital currencies can be save without banks transaction and less hazel. That's why banks owners are afraid in crypto currencies.

The government scare the growth of cryptocurrency can change people's views. But, you need to know the price of Bitcoin and altcoins were pumped by the whale meaning the whale need to spend their money to pump the price of cryptocurrencies. If they failure to attract the investors, I think this bubble will be end soon.

[Andre_Goldman]

I wonder how in a feudal Europe the new Ring fencing will work, remember guys we are the Acme Labs of new economy ;-)

Banking reform: what is ringfencing?
https://www.theguardian.com/business/2011/sep/12/bank-reform-vickers-ringfencing

[2taps]

I don't think that banks will fear cryptocurrency because online money that is not looked at won't really make a difference in the world.
I think that banks will stay how they are in the future and that bitcoin will be a second paying method in the world.

[turkmachiavelli]

I think ıt must be afraid about crypto money because ıt spread to everywhere and people start to learn btc or crypto money. They search about this issue and they see that btc is rising non-stop.

[nataxa093]

I think ıt must be afraid about crypto money because ıt spread to everywhere and people start to learn btc or crypto money. They search about this issue and they see that btc is rising non-stop.

Banks are afraid that bitcoin will capture the world and all people for payments will use only bitcoin. Because of this, banks lose customers and greater profits

[buharikx31]

I think they are not fear the cryptocurrency, would be good to them if they implement instant exchanges for their clients, but banks are still fear the techonolgies which dont have any centralized system authority