Do Banks fear cryptocurrency

[guxu219]

Banks are scared .cause it could destabilize the local currency

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.

[Shanjida Akter]

Yeah....i also think that banks are getting worried about cryptocurrencies,otherwise why they are banning cryptocurrencies??This is because for insecurity of course!!

[jafurih]

Bitcoin is good for transactions its works  like a bank.bitcoin transaction fees are low,bitcoin is decentralized.banks transaction charges are high.so baks fear about the bitcoin.

[Ayaancool]

Yes I think they afraid bitcoin. After knowing the possibilities of Bitcoin in crypto market most of them prefer to invest in bitcoin rather than depositing in banks. So it makes shortage of deposits in their hands. If there is no deposits then the further process of banks like loans are difficult to get it possible. That's why the banks afraid bitcoin.

[flower1024]

Yeah....i also think that banks are getting worried about cryptocurrencies,otherwise why they are banning cryptocurrencies??This is because for insecurity of course!!

Why they are banning digital currencies means before people will keep their money in banks. But now people started to keep their money in bitcoins. This is reducing banks income, so banks are not supporting to digital currencies. Once the bitcoin become legal then surely most of the private banks will shut down.

[jason meneses]

Strong and smart bank managers will be able to integrate the blockchain and cryptocurrencies into their structure. The rest are afraid but the other bank wants money that why some bank dont ban the cryptocuurencies

[bribed]

Strong and smart bank managers will be able to integrate the blockchain and cryptocurrencies into their structure. The rest are afraid but the other bank wants money that why some bank dont ban the cryptocuurencies

Indeed, I would also think this, smart bank managers will likely find a way to still be the bank for people (maybe for old people or people that cant use the new tech for some reason) but still go with the time and implement blockchain technology and crypto currencies in their system. We will see where this is heading. The one that does not go with the time, goes with the time.

[Beatcoin.it]

Some way more smarter banks understood the power of making transaction on a blockchain system and made contracts with ripple. Someother slept and now feel the pain.

[overcliff433]

The banks are scared of it because they want to maintain control. Bitcoin is one of the best developments

[helars2008]

As of now i dont think that banks is afraid of cryptocurrency already.
They maybe giving it a close look but to the point of fearing it,  may not yet be real.
Cryptocurrency may be gaining more popularity right now but theres only a few of the world populations n that uses it.
We need more numbers to become a real threat.

[tiger2monkey]

In my opinion, cryptocurrency does post some challenge on banks. Blockchain is one of the great development in internet age and has so much advantages over our existing banking system. Hope banks feel the challenge and improve the financial technology in the coming years.

[acheampong64]

well! many banks wished they could trade in bitcoin but they think cryptos are not stable. Others have accepted and are making some profits from it. for the warning aspect! you'll only issue a warning when you sense a threat.  so of course, they are afraid about bitcoin but bitcoin will forever increase to suprise them. so i think they better start adopting BTC

[Ramsin]

The banks talking crap about crypto are the ones that are refusing to adapt and evolve with the new financial order. They think that as long as they rail against investing in crypto, they can stall mass adoption until they find a way to control it. What they should be doing is using their massive capital to push the technology forward and find new ways to benefit from it. It's almost like saying online retailers should be scared of ICOs like nucleus.vision just because they're looking to drive offline retail, when instead the ecosystem they're trying to build will need to incorporate an amalgamation of offline and online.

[Oliver John]

It can replace the banking system

[SmokerFace]

Yes, they will fear in the popularity of the cryptocurrency because cryptocurrency are their most competitor and crypto has more benefits than banking thats the reason why they make a noise about cryptocurrency that this currency are unsafe and making a negative news about it even im the owner of banks i will make this news too because that is my biggest enemy so other investors will go back in banking, But people nowadays are not fool even they make a false news about crypto so many famous investors promoting it.

[Andreas888]

Banks are scared of crypto because it cuts them out of the process, i.e., with crypto the middle man ceases to be a centralized affair and becomes distributed across hundreds of nodes on the network. If banks can't control and wheel and deal their way through the current financial system, they will eventually shrink and cease becoming multinational entities.

[Pansamantala]

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!

Yes it is true. Most of the banks are afraid to the cryptocurrency. If the cryptocurrency became more popular, many investors will invest their money in the cryptocurrency world rather in banks because cryptocurrency investments are more profitable.

[soilwork79]

Some banks fear Bitcoin because they believe it will crash the fiat system. They fear their customers turn to crypto and they dont make any profit anymore.

[nick_nick]

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'm not too amazed of the central bank of Albania issuing such warning. The banks see cryptocurrencies as a thread to their survival.
Many people are shifting to investing in cryptocurrencies and it will get to a time the banks may probable sink in the financial market.

 I think there is nothing to be afraid because the revolution is now and cryptocurrencies are here to stay.

[bakunawaaa]

It is a threat to banks especially to central banks, because it will make their very own fiat money weak. If many more people start to use bitcoin for business and especially to acquire their everyday needs, then it would be very bad for central banks. Additionally, some banks which work as retail banks, would also be afraid of this because most of their investments are in fiat money. So if the bitcoin becomes more powerful than fiat, which is already happening, then the value of their investments would also go down. This is because many more people would have alternatives to using retail banks, such as the other crypto currencies. If you also put it in terms of deposit, the customers of banks would then rather keep their money in bitcoin because the value keeps on rising by the day, instead of relying on the very small interest they get from keeping it in a bank. So it is really a threat to banks.