Do Banks fear cryptocurrency

[forkchain]

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.

Bank system is strong system and its totally wrong that any bank will from crypto because all countries throughout the whole world need bank system for business and holding money of country and also for doing with business with other countries.

[Shendy23]

I dont think the are afraid of bitcoin, mabye they're just saying that cryto is not safe and dont get in to it, so that the people will go to banks, its like a marketing strategy, if something is growing up in the business and they are getting left behind they will do something to grab back that thing on top. so i think its just a strategy to them in order to people use only banks and no other digital money or cryptocurrency.

[zergenyt09]

I think it is much more like that banks does not have much believe in on bitcoin or we could say not one at all. It is because of bitcoin being decentralized and very volatile and they most likely are planning that bitcoin is just some sort of scheme and it also is harming their business. But there's also some banking institutions that are aware of bitcoin's true character and i believe bitcoin's value will increase in addition if banking institutions will support bitcoin.

What I believe and observed is that banks are afraid of bitcoin. They are really not sure about what bitcoin is and are not ready to accept that bitcoin has successfully beaten them up badly. People are more comfortable with bitcoin for saving their money and making international transactions whereas banks don’t provide them the level of privacy they want. This is the major reason why banks are surpassed by bitcoin.

[Swopon]

I think banks are scared of bitcoin but of not then they should because oneday all country will accept bitcoin as a one of their currency and we all know that btc is crypto and it trade on online then there's no need for a bank

[websoftwareengineer]

Yes they should because bitcoins might affect their business, More and more people are investing in bitcoins and not placing their money on the banks and when this kind of event happen then the profit of the banks yearly will decrease.

[militarymonster1027]

They have began adapting them, actually.

[Hank3]

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!

No, I think. They can adapt to new conditions ever
Transformation will not be quick.

[cherryganda]

banks are afraid of what they called BITCOIN BUBBLE.. well they just joined the community as 5 biggest bank in the world collide just to have their own crypto currency and compete against bicoin .. change ICO if i am nnot mistaken is the project they are having right now ..

[Lipe490]

In terms of investment, yes they do. That's because people could buy a product without using the banks saving them time and money. Efficiency in both areas is key. I research and invest in companies I beleive will survive as best as possible any future bubble and that includes banks. Looking at charts as an investor is useless in the short, especially in it's infancy. It's a pain too many people put themselves through. I like to remind people, "do you watch you fiat bank savings account everyday?". Think of the long run. In a year of fiat bank savings you will be lucky to see a $50 return on $1000.

[a4techer]

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 many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

[tyronecoinbit]

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 many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

They were simply afraid of losing their client. Let's say, if 50% of their client are now engaging into bitcoin, tendency would be they're gonna lose half of their profit. And for sure, they're gonna file a bankruptcy if that's the case. But of course, the banks would not let it happen.

[DoublerHunter]

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 many banks owner was afraid to the digital money or what we called cryptocurrency because if you have a cryptocurrency you didn't need a bank to save and secure yoyr money so that they are afraid to bankrup there business so that many banks saying that cryptocurrency was not safe for oyr money.

That is really possible to happen that the banks will lose a lot of users and it will result for having a bankruptcy because of the cryptocurrencies that are better place for making deposit or saving our money but as of now, i think that the banks are now on making a move to adjust their system to adopt this new type of currency so they will not get left behind.

[De Suga09]

Banks are not scared of crypto currencies, they are only trying to keep safe their country's currency.
Instead of crypto currencies to make banks disappear, they will work together to achieve one aim.

I don't think so. Banks and cryptocurrencies could actually collaborate. In the first place, they could be used in two different ways. The illustration of having a hard copy and the other,a soft copy could be used to describe how fiat money and cryptocurrency could work. We couldn't just abolish fiat money,what if systems fail,what if internet disconnects,does it mean we will stop living,earning, and spending as well? Of course we couldn't that's why we still need both currencies.

[KroFly]

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!

Fire for no reason does not happen, so they saw a big problem, namely I believe that this will cause just bankruptcy of all banks and then the collapse of the economy in the state. Maybe not so globally, but it's definitely not a positive moment for them.

[tmawheba]

I don't thing banks fear about cryptocurrency. But there is small percentage of fear about it as the growth of cryptocurrency is booming day by day and the lot of alcoins are on the row giving option to the people of new era who wants the digital world. So banks should consider this technology hold their traditional customer to sustain in their banking system. Which really make them to have second thought of cryptocurrency especially about bitcoin.

[oegarod]

Banks are not scared of crypto currencies, they are only trying to keep safe their country's currency.
Instead of crypto currencies to make banks disappear, they will work together to achieve one aim.

I don't think so. Banks and cryptocurrencies could actually collaborate. In the first place, they could be used in two different ways. The illustration of having a hard copy and the other,a soft copy could be used to describe how fiat money and cryptocurrency could work. We couldn't just abolish fiat money,what if systems fail,what if internet disconnects,does it mean we will stop living,earning, and spending as well? Of course we couldn't that's why we still need both currencies.

Banks and digital currency can make a collaboration and function on a common platform. But this won't sustain long, because bitcoin and banks vary from the base. Both has got different objectives. In future banks might adopt the technology looking the growth of bitcoin, but less chances were available for a combined functioning.

[Gudhal Untu]

Of course, if the bitcoin transaction gets bigger the bank business will be threatened and will make the banks lonely then abandoned customers, this is what the banks feared.

[AlexW333]

of course Banks scare of crypto currencies but some of them understand BTC is future

[jdhkslj]

Banks really afraiding about the bitcoins,it is better than bank for online transactions.bitcoin transaction charges are lower than banks,we can send and receive the money without depend on any government.

[tomforgery]

cryptocurrency use P2P that mean no Bank so that all Banks  not love cryptocurrency and support Blockchain.info technology and they hope to make kind of p2p using bank