Do Banks fear cryptocurrency

[Rggadi]

Financial institute including bank fears cryptocurrencies , but in the same time they will try to get the control of bitcoin , soon or later , they will get the control because they have money and power

[Kakawate]

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!

In my opinion, I see this as a preventive measure of the banks, they can see that cryptocurrency is rapidly being known around the world, and it is becoming a threat to the banking bussiness, so as early as now, they are trying to take control of the situation by manipulating the minds of the people who dont really understands the cryptoworld. I guess they just dont wanna run out of business.

[Mr.Dick]

in my opininion it won't take long and the banks will see the advantages of CC's and invest by their own, otherwise they would be stupid - which they aren't

[Shannykhan44]

Bitcoin is but the most famous example of an emerging technology network with the potential to improve banking. It belongs to the new type of financial animal called crypto currencies, i.e. decentralized, secure money storage and money transfer enabled by the Internet. What Bitcoin, and the even more promising Ripple network do, is not to poke a hole in banking’s basic business models—lending, deposits, trading, and money exchange—but to create the embryos for entirely new markets typically referred to as the Internet of Value. That is, a way for regular folks, as well as specialists, to potentially monetize everything, regardless of location, traditional market access and jurisdiction.

[Kiiti1]

Banks are scared .cause it could destabilize the local currency

[g4vinshreds]

I would say that they might or might not,  it just depends,  while cryptocurriencies can and will take over banks,  less technically advanced people (older people) will still use banks most likely.  Due to this,  the banks probably for the most part aren't super worried,  but they should be,  because I'm probably never going to use them thanks to crypto.

[concept2]

Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.

I agree with you. Why should Banks have to fear cryptocurrency? Almost every family has to have a credit card from a bank. Banks have also existed for a long time ago. Cryptocurrency have just been popular recently. Moreover, kids also know about Bank at 4,5 years old and they don't know anything about Bitcoin. Bitcoin may have another bank on the internet.

[Kiweikoo]

Of course they are, cause it is a whole new system! Decentralized, not controlled by them. I am very hopeful that the current system will finally change

It is the reason why the bitcoin is getting high and that a lot of the people are using it because the demand of the bitcoin is high while the supply of the bitcoin is low.

As you said the bitcoin is the now system and the bitcoin is increasing more and more I hope the future of the bitcoin is bright and the we can say the bitcoin will give us the best value and the price I am sure about the increasing price of the bitcoin.

[bazdarx8]

Honestly not really no Banks fear of any cryptocurrency and I did my research about this the main reason why is because they know their value of any dollar amount will stay the same no matter what compare to Bitcoin it will always rise and lower which will make most people owning them hoping for it to rise, The main truth is nothing can ever stay on top forever it will always decrease overtime like gold or whatever.

[SilverChromia]

No. They do not need to fear cryptocurrency because we all know some other peoples maybe have some cryptocurrency or digital currency like bitcoins or altcoins but in the end they also exchange it to their own countries currencies and put it on the bank to keep it and use it for their future so theres no reason that banks need to fear about cryptocurrencies. And for me thats how technologies works.

[queenhallmark]

I would say that they might or might not,  it just depends,  while cryptocurriencies can and will take over banks,  less technically advanced people (older people) will still use banks most likely.  Due to this,  the banks probably for the most part aren't super worried,  but they should be,  because I'm probably never going to use them thanks to crypto.

I don’t think so that bank is fear from any crypt currency because bank system is very strong throughout the whole world and it is impossible to defeat bank system because every country need bank system. Without bank system no country can run their business.

[aboy24]

Bank is always prepare ib crytocurrency madae by bitcoins, many invester in a bank also but btc is the best of time to put money online.

[PORN_coin]

this can displace banks in the general sense
hence the fear
it's simple

[WannaCry]

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 cryptocurrency is a threat to banks. Because of cryptocurrency, people don't save their money on banks, instead they invest on bitcoin or other coins because compared to banks, they can earn more money through bitcoin or altcoin investment. Bitcoin or other altcoins are profitable because it is becoming more famous every day. The more people investing on bitcoin the higher the price it's price goes.

[furry04]

This issue is the same in the entire world. First they warn customers to keep out from cryptocurrencies then they try to adapt it on their structure. Cryptocurrencies have made trading easier so you don`t need their services and they might be afraid

[Trela]

Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.

I agree with you. Why should Banks have to fear cryptocurrency? Almost every family has to have a credit card from a bank. Banks have also existed for a long time ago. Cryptocurrency have just been popular recently. Moreover, kids also know about Bank at 4,5 years old and they don't know anything about Bitcoin. Bitcoin may have another bank on the internet.

Bank for Bitcoin??? So funny! Do you understand the decentralized network of Bitcoin? Bitcoin can not have Bank and the banks also can not apply Bitcoin for their system. Both are different and each other's opponents.

[skyflakes88]

I think banks will create their own crypto currency where they have full control over it banks deal business like that a centralize monetary system that business profits in fact i think they are profiting in the current bitcoin craze in the market

[Fatemablabla]

They are two different things.so i cant put any connection between them on the excuse of fear

[Kizaki]

They are two different things.so i cant put any connection between them on the excuse of fear

Banks = The one who regulate local money in the country. Hold the currency for different services they offer.
Bitcoin/Cryptocurrency = Digital currency in the internet and is decentralized which value is based on users demands and popularity.

They are kind of different because bitcoin is a currency and banks are the holders and regulator of currency. But they really should fear bitcoin because bitcoin offers a good services to people by being decentralized and PTP transactions which also maintain the anonymity and the security of people who holds them.

[cryptojaani]

They are two different things.so i cant put any connection between them on the excuse of fear

n short, YES they do. Bitcoin and the blockchain network is forcing them to re-evaluate the way in which they do business(over time) The blockchain and bitcoin is a new type of network in which transactions are recorded chronologically, and publicly allowing transactions to be distributed and not copied across the network. It's an incorruptible digital ledger of transactions that can record anything of value. They need to intergrate or disintegrate. New account holder here been involved in BTC since 2013. Not a trader just a HODL.