Do Banks fear cryptocurrency

[romero121]

Banks really fear of cryptocurrency and in specific they fear about the technology which makes it more valuable. In an article recently the entire sum of loss that banks have faced after bitcoin into usage has been calibrated and mentioned to be much high, hope this will support technology growth and reach eve the common people.

[Wittycoin]

Many of the people now are storing their money at different crypto's wallet instead of depositing at banks and people are now using cryto's to transfer money so I think that is the reason why bank fear cryptocurrencies.

[zenrol28]

Do we need a bank if we can be a bank of ourselves? That's why they're so distracted with the booming of cryptocurrencies. And they believe if they can't beat it, they'll join with it. That's where ripple came from. They fear of losing all of their customers.

[Asuspawer09]

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!

The thing bank could fear from bitcoin is that the usual moneys could just be an option. And if moneys are option from bitcoin then the need of banks or its demand will go down. Since bitcoin could stand alone without banks but just as a simple wallet. The feeling of convenience for some clients would be preferable in it. But after all, banks will be bank. And not all people will prefer bitcoin anyway. So a fair thing for the two parties will do.

[azaid18]

Yes they fear crypto . WHY? Because they only want they will be the only one who will benefit on the money of there clients speacially those clients that has a time deposit.

[megalith07]

Obviously yes bank are extremely anxious of cryptographic money as well as any advanced monetary standards. They think about it as a treat to saving money. What do you think if individuals quit purchasing treasury charge on put resources into fiat yet put resources into digital currency. it may influence the presence of a saving money framework. I have met such a large number of financier when you address them about digital money the following thing they will disclose to you how you will lose your cash by being trick as though you cannot lose fiat through trick.

[krayzie32]

I do not think that the banks have to fear the cryptocurrency. Banks solve many problem in the market which crypto can not execute. So, banks and cryptocurrency will exist together.

[DabsPoorVersion]

Maybe? Because some investors who invest is particular bank can change his mind to invest here in bitcoin. I think that is one of the problem if the investor in banks shift to invest ere in bitcoin, if i am an investor i will think twice too because i will earn as higher than i earn in investing in banks.

[sirkings0003]

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!

Naturally, majority of people do not like competition all. Especially the one that will take away their jobs. So banks are actually afraid of cryptocurrency. There was same announcement in my own country.

[Marry Finch]

Big banks of the world are very afraid of Bitcoin. The growth of the popularity of crypto-currency poses a threat to financial institutions. The spread of digital money is undesirable for banks, as demand for loans is declining, banks' profit is reduced due to a reduction in interest rates and diminishing hopes for deregulation.

[Trela]

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!

The thing bank could fear from bitcoin is that the usual moneys could just be an option. And if moneys are option from bitcoin then the need of banks or its demand will go down. Since bitcoin could stand alone without banks but just as a simple wallet. The feeling of convenience for some clients would be preferable in it. But after all, banks will be bank. And not all people will prefer bitcoin anyway. So a fair thing for the two parties will do.

In the society, a lot of people still doubt and do not trust cryptocurrency. My parent are also those people though I give them many money from my investment in crypotucurrency. It look like as they can not put their faith in a virtual value, maybe they are those who do not accept innovation.

[ivanst776]

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.

Yes, There is no doubt in this fact by now that banks feel threatened by crypto currencies especially from bitcoin because people are frequently converting their cash into bitcoin for an easy handling of their money and also to make easy profit with bitcoin which is not possible with banks.

Banks do offer profit in the form of interest rate but that money cannot compete with bitcoin. Banks will disappear soon especially commercial ones.

[BobbyZounours]

Not only that, people would love to invest into cryptocurrency as they are more easy to get into. Long term investment would really bear fruit if you invest in a good timing with the right amount of money. And they are more efficient and reliable than going to banks just to sign paperworks that tells your interest and other stuffs.

[PeRo]

Sure they are, everyone that is strongly for centralized money has a fear that the cryptocurrencies will destroy banks. That is why Bitcoin gets banned by goverment in many countries. As for Albania, it is not really a technological 'evolved' country and they have no clue what the cryptocurrencies are, it is a poor country and it will stay like that because they are behind the rest of the world.

[btcdepo]

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!

Naturally, majority of people do not like competition all. Especially the one that will take away their jobs. So banks are actually afraid of cryptocurrency. There was same announcement in my own country.

I also know clearly that banks are in fear of crypto currencies. Blockchain is built based on decentralization which is totally opposite philosphy of banks which is based on centralized management. This is the main reason of the fear.

[ballexplorer]

If you look at the banks' comments on the cryptocurrencies, it can not be otherwise. I think they are really scared.
But not only the banks, I also believe the governments and the money elites have the pants full.

[Ethernel]

What they worry about and advise us is absolutely correct. However, it is only good for newcomers and not aware of Bitcoin. Left, most of the perennials can earn a lot of money from Bitcoin. Because they have experience as well as knowledge in investment and business. So do not be afraid if you know everything about Bitcoin

[Bounty-Manager]

Banks have the upper hand in all world wide on Ewallets and Ebanks , and even tho that cryptos have proved themselves investment worthy and have been able to generate a lot of profits and crossing any percentage predicted, cryptos can never replace a real traditional banking system because those ones are supported by laws , governments and very powerful people that won't accept the fact of cryptos beating the banks because in that case those people won't have 12+ digits bank accounts anymore .

[Shrinath]

The bread and butter for each and every bank in the world depends solely on the profit earned by banking structure of the government. This again is created on rules laid down with the concept of their “centralized money”. They generate profit by investing the paper money of the citizens from their savings into the multifarious profit generating avenues like shares, bonds, mutual funds etc.
With the introduction of decentralization of money by the new worlds of crypto currency they sense a threat to their future. If their citizens find an avenue to generate profit “without” following the rules of their centralized money, their future is at stake. That’s why they are trying to turn away their citizens from the online market, by introducing words like “bubble” about to explode. They are fearful of their own future because of the losses their banks are making. With time the knowledge of crypto currency will be widespread. Hence, more and more citizens of newer generations will venture in the world of decentralized money. This will send an alarm to the banks because of the fear of the unknown.

[sammrheza]

yeahh man they fear their customer money move from their pocket to others  .....