Do Banks fear cryptocurrency

[ennovy22]

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!

Absolutely! Cryptocurrency will be a big threat for them. Because bitcoin has more potential than ever banks. Also with bitcoin, they can work and earn anonymously without getting any of your information. Well the pros of the banks is they can really secure your money and will make sure that it is only for you. While the cons is bankrupts and robbery. Bitcoin has a really high rate it won't disappear but banks can. They may be get bankrupt and they won't be able to return your savings. Well that's a threat for every person too.

[hangar18]

Yes, because they are losing customers. People are now beginning to see that you can make more money without having a bank. So they will actually lose their customers.

If more and more people will use crypto banks will fail.

I agree with you. A lot of people are now realizing that it is better to put their money outside the banks because there are more opportunities outside the banks to earn more money like the cryptocurrency where they can earn a bunch of money and i think that is the reason for the banks to be scare for the cryptocurrency and because of that they are now making moves to regulate that threat by regulating bitcoin and other cryptocurrencies in their countries.

Banks are places to save and keep money safe. It is not for investment. At the beginning, the concept of banking was misleading by its users. With attractive rates, many people thought it was a place to make money as usual. But, today, everything has changed and it is not a form of investment anymore.

[jovs]

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.

Bank don't need to be scared about Bitcoin. They could actually associate their program or system to crypto-currency becasue if time go by that bitcoin will be the universal currency or the crypto-currency will be a former currency in transavtion bank system need to update or glance the changes for them to succeed.

[ledu_ico]

Banks will never fear cryptocurrencies, BTC ETH etc. have been out there for a while now and banks are still following their pattern, nothing much has changed on banks side.

[shata]

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 must not be scared about bitcoin. Actually, there are some banks that are able to convert it to money. Bitcoin can help to increase the level of country's economy. Bitcoin will not affect some banks instead they will also help some banks. If many people are already have profit in bitcoin, there is a hugh chance of possibility that they can put some of there money in a bank.

[Chachacoin17]

Well i believed that bank must be affraid on the continueous growth of bitcoin because bitcoin can really be  a bug treath on them because if bitcoin continue to grow maybe bank will be running out of customers and they are really lime  going down like an airplane that running out of gas .I believe that the banks is only depending on thier customer  level  because banks is really a business except the central bank.

[BeGoods]

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.

Bank don't need to be scared about Bitcoin. They could actually associate their program or system to crypto-currency becasue if time go by that bitcoin will be the universal currency or the crypto-currency will be a former currency in transavtion bank system need to update or glance the changes for them to succeed.

I think it's natural when the bank is afraid of the potential of bitcoin. because bitcoin has a decentralized system where nobody can control and there are many bad possibilities on the country's financial system if bitcoin is used by all people in that country and of course the bank will become unused

[Felix1]

The spread of digital money is undesirable for banks, given their current problems, which they have faced recently. Speech, first of all, is about low demand for loans, lower profits due to lower interest rates

Bitcoin potentially undermines the work of banks. Probably the general fear among banks regarding Bitcoin is that it completely destroys the need for intermediate transactions between financial institutions. among the main advantages of crypto currency compared to banks is the lack of the need to provide identity documents for the opening of the Bitcoin-wallet.

Moreover, he noted that blocking technology can not be hacked unlike bank accounts, which makes it a more secure depository.

SO THEY DO!

[LynielZbl]

There are really countries where they do not allow the cryptocurrency to enter their place, like China. Because they fear that over the years their banks may lose their value. since the bank does not hold the cryptocurrency, it only works voluntarily. But here in my country, in the Philippines. Central Bank honors Bitcoin because they know that it will help with the country's economic development.

[DoublerHunter]

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.

Bank don't need to be scared about Bitcoin. They could actually associate their program or system to crypto-currency becasue if time go by that bitcoin will be the universal currency or the crypto-currency will be a former currency in transavtion bank system need to update or glance the changes for them to succeed.

I think it's natural when the bank is afraid of the potential of bitcoin. because bitcoin has a decentralized system where nobody can control and there are many bad possibilities on the country's financial system if bitcoin is used by all people in that country and of course the bank will become unused

Banks surely feared from the cryptocurrency but it is not that big deal for them because they can still have a lot of users in the future because banks already build the reputation that they needed in order to attract more and more users. If banks really feared about bitcoin then we can see them panicking or making the government to ban bitcoin but there is nothing like that as of now so i think that there is nothing to worry about for the banks.

[ecnalubma]

I don't think bank fears cryptocurrency, because og some of banks nowadays adopt blockchain technology and starting to realize its benefits. I think blockchain and bank is good combination to further maximize security and process. And I don't think bank will disappear because some always prefer traditional banking.

[iluvpie60]

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!

Well it sounds like they only are warning people not to get involved right? Do you have a link to the article that you are talking about?

Warning people to not get involved doesn't sound like it is a law per se, though in some countries when the government comes out and says "don't do this" it can mean they are about to pass a law making it illegal. be careful.

[Lindazz]

It is my personal opinion that banks do not hold cryptocurrencies in the forefront, and they can launch centralized cryptocurrencies, just like Ruipo's currency.

[cl37007]

I'd say yes, they don't understand it half the time and they can control it none of the time. Also the fact there is a blockchain and a limited supply, they cannot just print more money

[Cryptozond]

Strong and smart bank managers will be able to integrate the blockchain and cryptocurrencies into their structure. The rest are afraid

[daarul50]

In the business world, banks have always been superior to the entrepreneurs because they can work together. Whereas in the world of cryptocurrency to date still a few entrepreneurs who entrust their transactions using bitcoin. Hence, bitcoin users who are also their entrepreneurs use the exchange service which eventually keeps picking up and shipping being in the bank so I do not think that banks are afraid of cryptocurrency, just banks and cryptocurrency have long been cooperating.

[bribed]

I think that yes, the big banksters are afraid of crypto, because they fear a shift of power. Money is power and if they cant control it anymore, they loose that power eventually. But many smaller banks arent even aware of what is coming, at least that is my impression from talking to local bankers I know. After all, they should be afraid, and all the guilt of why this shift of power is desperately needed, lays with them.

[hispout]

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 so. Of course since they don't have a control over crypto currency they will surely make any news even if its negative just to degrade crypto so that people especially their clients/investors/depositor just stays with them and not entertain crypto currency in their lives.

Don’t worry banks will not be demolishing when bitcoin would be the world’s most impressive and strongest currency. Bitcoin is always amazing but why you are thinking the banks will be disturbed when bitcoin will take over the control. Rather what I think is banks will shift their policies and modify their frame of work thus everything will be better and smoothly working in harmony.

[ahiaba.john@yahoo.com]

Yes of course bank fear cryptocurrency. With time we are going to have less to do with the banks since  cryptocurrency have nothing to do with banking. Banks are going to loose more customers and  therefore their business will collapse since many are not going to involve in banking. Moreso, central bank has no power to oversees transactions or fund transfer that involve cryptocurrency.

[izetex]

definitely yes it is!