Do Banks fear cryptocurrency

[ingo49]

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 think that in some ways they do.
One of the goals of the Bitcoin is that people do not need banks to transfer there money, every person responsible for his on money.

[NeoTech42]

Bitcoin is disrupting the whole world including banks. So, banks express their fear towards Bitcoin for people not to be scam by Bitcoin/crypto or claiming that's a Ponzi. 
They try to work with governments and regulators to find some solutions against the crypto world.

[anwar98]

I think it depends on the country. As we can see, some countries are beginning to ban cryptocurrency, others issue some rules, but some also support it.

[conected]

I think too many banks are afraid of crypto currency because they know that they are the current trend and most people online are using crypto streams rather than existing banking transactions because crypto costs are lower than banks that have higher costs

- I feel that the bank does not have any worries about cryptocurrency because although the cost of crypto is lower than the bank but prestige is not guaranteed, no one can be sure about crypto, cryptocurrency too easily stolen and become traps scam. Most of us engage in cryptocurrency just for the purpose of investing and making money, no one is thinking about using in practice and long term, we still exchange crypto to cash then deposit into bank account, we believe in banking more than cryptocurrency, banks do not have fear about cryptocurrency, crypto still can not replace or defeat them

[shezu007]

I think too many banks are afraid of crypto currency because they know that they are the current trend and most people online are using crypto streams rather than existing banking transactions because crypto costs are lower than banks that have higher costs

- I feel that the bank does not have any worries about cryptocurrency because although the cost of crypto is lower than the bank but prestige is not guaranteed, no one can be sure about crypto, cryptocurrency too easily stolen and become traps scam. Most of us engage in cryptocurrency just for the purpose of investing and making money, no one is thinking about using in practice and long term, we still exchange crypto to cash then deposit into bank account, we believe in banking more than cryptocurrency, banks do not have fear about cryptocurrency, crypto still can not replace or defeat them

I think not, The banks are against of the crypto currencies because crypto currencies are going ahead from the banks and providing such a facilities for to the users that banks can't provide, such as a very cheap transfer rate all over the world, a very high secure system of the transfer, a very high secure system of your asset information even that your country Government does not know about your. So the people like bitcoin and joining bitcoin, that why Banks are against of bitcoin.

[garybyerz]

This is something that's hard to say. Although they may be afraid. Due to the fact that Bitcoin and other cryptocurrencies are competing against the banks. So i don't see reasons why banks should support cryptos. And we are seeing many people putting money into cryptocurrencies, all this would certainly make banks and the authorities issue a warning or seize to accept btc.

[NoSkyLimit]

I don't fear is the right word to describe the bank situation. I think the world is PANIC because you don't understand exactly what is gonna happen with bitcoin and blockchain so they don't know what to because they see that their trust is fading away.

[psibenik]

Banks are absolutely afraid. Their entire business depends on fiat money. An individual bank won't be able to make a difference in the grand scheme of things. Just will piss off their customers more.

[bobylee]

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 don't get scared of cryptocurrencies, the banks were only trying to keep their country's fiat or real currency safe. Instead of cryptocurrencies to replace banks, banks and the authorities will rather work together to achieve one goal.

[otandelapaz]

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 they do. But not because it can shut them down. But as we all know, crypto-currency are not regulated by any legal entity, thus there's no protection to it's holders, buyers, owners etc. There's a lot of scams too in crypto-currency that's why not just banks but other financial institutions are advising the public on the risk on using crypto-currency.
But I think in the future, most banks will incorporate crypto in their systems. They too need to update their services to better service of its clients.

[developeX]

I surely think they all in fear now after the attention put by some big and small investors,
shocking enough some forex trader i know are now investing also in crypto,
The search for a decentralized, safe and faster way of sending money, is growing day by day.

[DunnDy]

Generally speaking, banks ought to fear. In my humble opinion, Bitcoin is an alternative for banks because with BTC you can become your own bank. You can send money directly and you totally independent of anybody. It is much more convenient than using services like e.g. banks.

[LastRolling]

Yes, they are afraid from bitcoin since there is a big potential hat sooner or later all commercial banks in the whole world replaced by bitcoin.

[ggg123]

I think the banks are scared of the cryptocurrencies. As people prefer crypto, the banks will not be a highlight. Obviously they  don’t want it to happen.

[DewiKirana]

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!

Of course the bank is afraid of the development of cryptocurency which is getting bigger day. We can see bitcoins that can be used as assets with management that are fully controlled by every bitcoin holder, this makes the fears of banks who are afraid of their customers move from their system that set the deposit program to switch to bitcoin.

[avoroch]

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 banks is evil of the world. The will try to keep everything in their hands untill the end

[nevafade]

Yes, banks fear of cryptocurrencies because of its decentralized and have a major impact financially and soon all around the world cryptocurrencies will overcome the bank and accepted as payment methods in all transactions.

[Bambinoe]

They are scared because its gonna cost them their jobs.

[charlzyeby]

some banks have added digital system of marketing and payment to their banking systems. But these same banks are weary of adding the cryptocurrency and blockchain technology to revamp their system. In short it is clear that the banks only fear decentralization.

[CowboyKiller]

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!

Of course the bank is afraid of the development of cryptocurency which is getting bigger day. We can see bitcoins that can be used as assets with management that are fully controlled by every bitcoin holder, this makes the fears of banks who are afraid of their customers move from their system that set the deposit program to switch to bitcoin.

Actually if cryptocurrency does not exist, I am sure the people still do not trust the banking system today. I do not know what happened in other rich countries, but in my country, although it is still a develop country (or it means my country is poor), NO ONE put all money into bank for saving, almost the people will choose asset as gold or real estate for long time saving.