Do Banks fear cryptocurrency

[NeverCrypt]

Those bankers who are old-fashioned - they do affraid I think. As for the progressive ones, I'm sure they just think about how to use cryptocurrency to get richer. If they won't be able to support this technology they have no future, and they understand it.

[Glydel1999]

Bitcoin has a great potential in our market. The continues improvements and performance of bitcoin can brings them from lots of opportunities and victories. Since bitcoin received lots of good feedback from its clients they can be a threat in a whole banking industry. Which sooner or later they can be dominate by them.

[mininghubby]

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

Yes they really are afraid of cryptocurrencies because unlike bank they have higher fees and it have some lots of requirements it needed, whereas in bitcoin and other cryptocurrencies it is fast and it has lower fees so if the cryptocurrency will boom. and also banks fera reason is if bitcoin is safe and more profitable then who want to safe or deposit their money to bank .instead of crypto off course no one that,s why.

[Irvinn]

Banks are really afraid of crypto currency, because it completely violates all the established principles of circulation of ordinary currency. In addition, the crypto currency has a very high volatility and therefore is absolutely unpredictable in price, is not provided with anything and is based only on the ratio of demand and supply. Also, a great interest in crypto currency from their clients is caused by the fact that banks lose their customers, who switch to direct settlements in the crypto currency and therefore lose a significant part of their profits.

[Pain Packer]

Yes. Using cryptocurrencies eliminates the middle man (banks) for storing the money. It is just a natural act if being threaten.

[coolstory]

Banks are really afraid of crypto currency, because it completely violates all the established principles of circulation of ordinary currency. In addition, the crypto currency has a very high volatility and therefore is absolutely unpredictable in price, is not provided with anything and is based only on the ratio of demand and supply. Also, a great interest in crypto currency from their clients is caused by the fact that banks lose their customers, who switch to direct settlements in the crypto currency and therefore lose a significant part of their profits.

They fear from cryptocurrencies, yet they have solutions against coins. They can issue their own blockchain and coins. This way, they would minimize the risk of getting diminished by the coins.

[sampalokmix]

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!

Somehow banks maybe afraid of the fast rising of the cryptocurrencies because people now tend to use cryptos rather than physical money because of meaning things. Even though banks has already launched and upgraded their banking strategy and easy access online through the use of mobile banking, like what bitcoin has featured, the real battle and competition between the two is who gives more credits and profit or interest that is suitable for the needs and wants of the consumers? That is why banks are somehow afraid of the cryptocurrencies rise in the economy.

[BlockchainCoder]

of course, if the decentralization financial realized many banker will lose their job, especially some national banks.
Thant's why China govement has been baned the bitcoin, and try to kick it out from China. Many countries could not accept people selv manager their economics without any monitoring or control from gov. it's difficult for tax also.

[sheamus10]

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, we should not be afraid if we already know how to use bitcoin. Banks in large countries do ban bitcoin but not if we transact.
Because there is usually no law governing this.

[wdnj]

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

Bitcoin is the worst nightmare for the bankers because bitcoin is the itself a banking system that take people money and then increase that amount and give it back to the people in the form of profit and that’s the man fact people are mostly investing into bitcoin not in the banks and maybe in coming years there will be no need of banks because bitcoin will be adopted by all the people across the world to earn.

[kueyen]

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

Bitcoin is the worst nightmare for the bankers because bitcoin is the itself a banking system that take people money and then increase that amount and give it back to the people in the form of profit and that’s the man fact people are mostly investing into bitcoin not in the banks and maybe in coming years there will be no need of banks because bitcoin will be adopted by all the people across the world to earn.

To be honest cryptocurrency is not a threat to fiat. It is a threat to banks, because investing in bitcoin means banks will have less money, but bitcoin is never going to replace fiat; and as a result also not banks, because I think banks cannot operate with bitcoin as the single currency that they offer.

[reingelz09]

Straight to the point..yes they are afraid of course, no more savings transaction in the banks or it would be lesser if a certain individual/depositor will be able to keep in safety online vault. or private paper wallet,

[BlackRacerX]

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 don't think so. I mean banks shouldn't be afraid of bitcoins because if it comes to trading money with bitcoins in banks, then it should be a win for bank owners since bitcoins' price increases. They can resell it to their patrons and earn even more money for investments. Banks are really clever these days.

[felipe04]

No fear at all because the benefit of crypto in bank is big like in our own country,i think i can say in other country dont have benefit in crypto but here in my country just one click in our own wallet the bank will earn every transaction and its big if so many people do a transaction in our bitcoin wallet then make deposit in any banks,its authorize in our country so both are having benefit and its so fast in good transactions

[Lonthe]

Yes definitely, bitcoin transactions continue to grow, and now many big companies are serious about developing bitcoin so that the more popular and easy to use the user. if bitcoin is legalized then the banks disappear immediately.

[hacker1001101001]

The BTC presents a great advantage to the banks, the only thing that the BTC loses and in the question fees and charges that today and very high but the BTC has a huge advantage in the transparency question, much faster to make transactions and now with the coming of the LN it will increase the speed in transactions. The Brazilian central bank has already issued two repudiation notes on the crypto-coins.

[Tatalk]

For now, yes bank do fear of increasing fate of cryptocurrencies. As banks are involved in handling paper money and cryptocurrencies would be the future of finance and it is the mode of online transactions and people would be able to handle it by themselves only, so the mediator work of bank would be ended and their profit would be ended, that is why bank feared of cryptocurrency and even the bank of some countries has warned people not to use cryptocurrency as it could lead you in debt. But in future there might be the chances that banks would stated issuing cryptocurrency as well and these digital money would centralized by the government.

[lance04]

Banks fear on the growing cryptocurrency because  it is more convenient than cash. Many people prefer crypto like how it goes in Japan. No need to bring a wallet, you just need your smartphone to pay for your bills and a lot more. Less hassle.

[Godric-Gryffindor]

Banks are deeply rooted to fiat and without people's paper money they gonna crumble, Banks cannot monetize or regulate cryptocurrency and soo the government institutions, they should adapt more than Bitcoin.

[humanCNC]

Clearly, banks fear bitcoin and cryptocurren. If I was the manager of a bank, then I would warn and take measures against bitcoin because bitcoin develop strongly, many people use it, the number of bank customers decreases and benefits the bank reduced.