Do Banks fear cryptocurrency

[Rascar Capac]

I think yes because Im sure there are some instance where a depositor withdraws his savings and invest in cryptocurrency like bitcoins this will cause some banks to collapse if majority of bank investors withdraws their money.

[hercules006]

I bet they do, thats why they are now manipulating xrp to encourage user to purchase it by btc.

[Ayush rana]

I think yes banks fear crypto currency because if crypto currencies get any legalization then people will shift from fate currencies to digital currency. Then this will risk the bank system

[Marucya]

Banks are probably not afraid of crypto currency, but are afraid of it. These are completely different things. They are afraid of its great volatility and unpredictability of behavior, insecurity and the incomprehensible nature of the emergence of value. In addition, in a sharp increase in the cost of bitcoin, they clearly see its nature as a financial bubble. I would not say that these fears are not groundless.

[Samings]

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 Should be afraid it is easy to safe your money using hardware or software bitcoin wallet more than go to bank and pay many taxes.
also when using bitcoin your money will increasing

[overthetop2011]

I think most of the banks do fear of cryptocurrencies,because the blockchain solution would make banks get smaller and smaller space for their living.

[Junypn]

Banks are completely scared of missing the boat. They will try and join the blockchain tech revolution and control it, no doubt. And we can't let them take charge else it'll lose all its purpose.

[Joemzz31]

I think all commercial banks in the whole world are threaten in the presence of bitcoin in the electronic banking industry.
Many people who supports their services with matching a huge demand. Through this there is no doubt that they can replace banks in future.

[kokobaba880]

Yes Banks fear crypto currency because the banks are looking for those things which are profitable and secure like bitcoin is the crypto currency and connected with internet so it is very volatile and risky because the prices are not stable so they fear to deal in this currency. Bitcoin is good for individual who have their own income and they invest in that amount for making profit.

[nellakarisma]

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!

everything must have a positive and negative impact. probably the managers of the Quarrying State Bank with bitcoin whose price is stable and the exchange rate is high.
precisely if the Bank managers can find solutions this way will bring a positive impact for both countries or communities such as those in Korea and Japan

[Lago_V]

For central banks, cryptocurrency is an issue. They control monetary in the country, but with cryptocurrencies, they can't really control anything.

[KingdomHearts]

Yes, since the Bitcoin has no tax involve and I think since the bitcoin price is volatile that banks will have a problem in keep up.And correct as the above comment says, as of now they can't regulate it.

Bitcoin has no tax now in some countries, but it will have tax in the future. If you make income from it, you HAVE TO pay tax not to be charged by your government. I think banks are fearing bitcoin.

Crypto currencies are a very big threat to the government and the banking system. If people will start investing their money in digital currencies as they are more profit promising, obviously banks are going to face a decrease in their customers and this is not a good news for them. This was the reason why JP Morgan CEO Jamie passed statement against Bitcoin but behind the scenes things are totally opposite.

[Kezio]

There are two possible reasons for these kinds of warnings provided by central banks. Either you should keep away from cryptocurrency because it might disrupt the value and flow of their own country's currency, or it's a sure way of taking measures so they won't have too much competition with investments into crypto.

[nanasei]

Yes banks are afraid of cryptocurrency taken over their business. If anyone become his own bank by performing his or her own transanction, banks will go out of existence or become obsolete.

[moldseuler]

If you think about it crytocurrencies like bitcoin doesn't really need a bank in order to function. If so then bank might be scared of this, because once crytptocurrencies take over banks might no longer be relevant.

[chocolaty]

They are afraid of digital currencies because it is decentralized. Government transactions must be monitored and if digital currency takes place then it would cause a disruption in the economy. Digital coins is not made for those kind of stuffs and that is what the bank fears. Technology is uprising and there are countries who have adapted digital currency. Adapting it won't just affect that country's system bur other countries as well.

[mhfg]

It is clear that banks are afraid to endanger their status. More deeply, the emergence of cryptocurrency may also jeopardize the rule of the state and they will be afraid of influencing the national economy in terms of their domination.

[jatin729]

i don't think so, because bank can take advantage from it, they can open their own bitcoin exchange if govt. Allow and implemented technology in banking system ( block chain technology). Blockchain will increase bank's efficiency and services, i don't think bank fear from crypto.

[Rosilito]

No, definitely the banks did not they only care on the people who will get affected of it so they issued a warning about bitcoin or probably as long as possible we need to avoid using it or unless they will ban it. Let me give an example, when people invest their money to bitcoin and get scammed then the money does not get even one meaning it is simply like you put your money in a trash and that is the biggest fear of a bank will have. May be that is the time we should fear about bitcoin but it does not mean that we need to stop, but we need to take a appropriate action when using it.

[Cryptouknews]

If I own a bank，i‘ll probably add blockchain to my bank

Same as many people. It's the future 😉