Do Banks fear cryptocurrency

[reck1ess]

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!

They may be a little bit frighten that someday people will be using bitcoin more than banks. Maybe that when bitcoin got famous they were totally affected from its effect that people are going for bitcoin instead of banks.

[daarul50]

There is no reason for banks to be afraid of bitcoin because they both need each other. Inadvertently they have both established cooperation in terms of exchange where there is the role of exchange services that utilize both parties.

[weblouartisan]

Obviously yes, Here in the philippines banks are removing transactions with bitcoins because obviously it is affecting their business, More and more people are investing on btc rather than placing their money on the banks and set it to time deposit.

[Bit4UTeam]

In some ways, probably. Bitcoin system allows people to send money without fee or with fees lower than those of the banks.
Sending bitcoins you don't need to use the bank services and pay for them. Banks are currently losing some part of their profit while a lot of people are using bitcoins.

[bitfocus]

Yes, Banks and present Central Banking System Monopoly fears Bitcoin a lot as Bitcoin is anonymous, encrypted, decentralized and needs no intermediary for transactions.

[bitbunnny]

I think that times when banks had fear of Bitcoin are over. They look at it as competition but also as opportunity to make money for themselves and offer new services to their clients.
I don't think we would wait for long for the day when banks would offer to their clients to open Bitcoin wallets, savings and similar. Banks are aware they can't stay behind.

[removebeforeflight]

Banks fear crytocurrency because their business would be ruined if Bitcoin is accepted like currency with traders and common people. The fear is natural since banks look for more profit from customers and customers earn less profit with their hard earned money.

Bitcoin look for profit share to each individual what they deserve and no intermediate agency for maintaining that and eat our maximum profit and give us little like banks do.

Banks and Bitcoin is like two different entities now and soon banks would adopt Bitcoin to survive.

[bribed]

As far as I know from speaking with several bankers, most of them are not aware of cryptocurrencies and therefore also not fearing them.

The ones I spoke with about crypto eighter denied the facts or they tried to ridicule the whole matter. I guess they will be soon enough forced to change their mind.

I guess the banks with a lot of power are kind of scaring crypto, but the smart ones of those wont be scared, they will rather try to get a foot in and to use crypto to their benefit.

[Marco Ambrusini]

Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. Most banking experts are well aware of the benefits of cryptocurrencies but they just want to de-motivate people so they can still continue their business alone

[last7minutes]

Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. Most banking experts are well aware of the benefits of cryptocurrencies but they just want to de-motivate people so they can still continue their business alone

Yes, many still do not know what crypto currency is, but who knows about it is trying to destroy it by spreading dirty rumors about bitcoin. Soon banks will have to accept crypto currency, otherwise they will lose their customers.   

[haster100]

In fact, banks are afraid of the arrival of bitcoins.
Do not be afraid of banks if we do not bother them. But if the Bank pursues us, we must fight smoothly.

[Hoganye]

Yes I would say banks would be afraid of this evolving cryptocurrency,
and I think if they get the chance they would stop these currency for growing. Most banking experts are well aware of the benefits of cryptocurrencies but they just want to de-motivate people so they can still continue their business alone

Yes, many still do not know what crypto currency is, but who knows about it is trying to destroy it by spreading dirty rumors about bitcoin. Soon banks will have to accept crypto currency, otherwise they will lose their customers.   

Really? Although, the nature of Bitcoin is a currency, but it does not guarantee your capital can raise more money after bought it. While, the banking system can provide you a safe place to keep your money, but the risk still exist, it does not mean safe all.

[luka red]

some banks like turkey central  bank and Albanian bank admit bitcoin as a threat to global banking.

but bank of England admits bitcoin not a threat to banking system.

bank of england (BoE) head mark carney said on last wednesday that bitcoin's meteoric price gains do not pose a threat to global financial stability.

so I think bitcoin is not a threat to banking system.

[cotton ball]

some banks like turkey central  bank and Albanian bank admit bitcoin as a threat to global banking.
but bank of England admits bitcoin not a threat to banking system.
bank of england (BoE) head mark carney said on last wednesday that bitcoin's meteoric price gains do not pose a threat to global financial stability.
so I think bitcoin is not a threat to banking system.

banks only serve as service providers, in fact they are greatly helped by blockchain technology and can accept bitcoins anytime and they will still benefit. But it all depends only on government policy alone, many banks in my country also start to express positive response to bitcoin.

[MD Milon]

Yes, banks are scared.because,they think there client lose.also day by day Bitcoin popularity are so high.user also so much.

[judgememes]

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 are owned by the goverment and powerful people, so yes, they'r are against crypto all over the world, even some country already banned btc.

[haster100]

This proposal, as well as a reminder that crypto allocation is very risky, because of high fluctuations. They are worried that ordinary people risk investing in bitcoins, which they have not yet understood with respect to the system.

[Stooked]

Bank right  cryptocurrencies  is uncertain and unsafe nature.

good for me "invest about 1000$"bad for "100k$ investors"

[loof99]

Based on the performance of the company and management of bitcoin there is no doubt that banks are afraid from this success happening to them.
BItcoin provides all kinds of services including remittance, electronic billings and etc which sooner or later they can replace all commercial banks in the whole world.

[nitrousteam]

Banks have the fear of the unknown. Every bank in the world makes the profit with the centralized money. This paper money is profitable for every bank and the decentralized cryptos are presenting the big treat for them. They are fearing for their own future and they are trying to turn away their citizens from the online market because of the losses their banks are making cause more and more people are turning to the online savings of their money.