Do Banks fear cryptocurrency

[claydeey]

Most of the Banks fear cryptocurrency because most of the transactions in a bank could also be catered in the cryptocurrency economy which simply means a crypto economy is a bank leading competitor.

[gvnsrbtc]

Of course, the few people at the top of the world can control the world with the tool called banks and if cryptocurrencies grow and grow, they loose that control. What do you think why some banks are causing dips and panics? They want to buy theirselves in and use crypto themselves.

[Brigalabdis]

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!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

Bitcoin has an instant wallet and also like a bank without fees. The bank was afraid because the money that they earn from a person was go at the wallet because the wallet of cryptocurrency was better than bank or any kind of bank.  They want to save their own business and specially the government want to ban bitcoin because the bank that they are mine, they can get tax but in bitcoin wasn't any by transferring, only the miners get the tax.

[signalbitbot]

Yes, I also think that banks are afraid of bitcoin. It is unprofitable for them.

[almuchtara12]

I think banks do not want to keep crypto like bitcoins, to have a safe wallet. We do not want flowers for them because their value is increasing rapidly. And when we talk about many ICO companies raise funds. via ICO for their project. This is a big problem for banks. Because companies do not go to banks to get loans for their projects. And the bank does not like it.

[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, no one likes competition even though it cannot be ruled out in the business world. Cryptocurrency is a natural unequalled competitor of the normal banking system. So, they will do everything within their powers to make sure cryptocurrency crashes. They can sponsor ordinary harmless statement about cryptocurrency to sound like hale has fallen. This will consequently trigger panic selling as well just like we have now.

[denzkilim]

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, no one likes competition even though it cannot be ruled out in the business world. Cryptocurrency is a natural unequalled competitor of the normal banking system. So, they will do everything within their powers to make sure cryptocurrency crashes. They can sponsor ordinary harmless statement about cryptocurrency to sound like hale has fallen. This will consequently trigger panic selling as well just like we have now.

Yeah, Banks are one of the major spreader of FUD in the world of crypto currencies next to governments. This group of people want all kinds of digital currencies to crash and vanish in this world so that they can take control of every thing when it comes to monetary issues. Every time the crypto world crashes this group of people are smiling like there is no tomorrow and they keep on spreading FUD all over the crypto realm.

A lot of people will do anything when it comes to money talks, even if they hurt other people on what they're doing. 

[jeanpadel14]

I think bank never afraid to dissapear because of cryptocurrency because bank supported by goverment and they will not allow to happen.And i think there are more people more trust to use bank.But people not see the security that bitcoin have because in bank fraud commonly happened.

[dongosquad]

I think bank never afraid to dissapear because of cryptocurrency because bank supported by goverment and they will not allow to happen.And i think there are more people more trust to use bank.But people not see the security that bitcoin have because in bank fraud commonly happened.

You are right. Banks are integrated with the state to maintain economic stability with currency sovereignty. The central bank has its own power. Well, about decentralized cryptocurrency, there are few shortcomings regarding security and public trust. No official administrator for bitcoin. The risk is quite large, but the profits are also large, comparable.

[Doge dealer]

banks are definitely afraid of crypto currencies as it will of course remove the need for them to get transactions done especially transactions that happen across geographical borders, also the fact that if your shrewd you can make some serious monies by investing in crypto currencies rather than just having the money sitting in an account making little to no profits . so their real fear is a decline in there customer base which will ultimately lead to a lowering of net profits

[SanjeewaCrypto]

I think they do. Crypto-currency will be a huge threat for the fiat currencies.

[mkettler]

Yes! If I own a bank I will sell it immediately for bitcoin ahahh  

That has absolutely nothing to do with banks fearing bitcoin and rise of cryptocurrency though? Like nothing lol

[thet]

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'm sure the banks are afraid of the existence of crypto currency in the market and a lot of people do some investment  and will probably not going to invest with banks since investment with digital currency is more profitable than investment with banks.

[quirijn de greef]

Yes! Somehow banks fear feom cryptocurrencies because that would hit their banking strategies and cash savings much. so definitely its a big fear to bankings.

[Dico88]

Banks around the world are afraid of the existence of crypto currency, seeing as worthy opponents in regular currency. At the same time, they realize that part of the market for crypto currency services is still superior and can voluntarily generate or introduce as a new service for the purchase and sale of crypto currency.

[icanscript]

Banks are beginning to worry about the fact that their business model is outdated.
Bitcoin at this stage of its development has not yet been baked enough for the purpose of becoming currency number one for all.
However, there is no doubt that the digital currency is the future. Whether the adopted version is a global or universal currency or will remain within the tentacles of the money that is yet to be seen.
The Earth needs a single currency, the only number for all who cross all borders.

[Ashe-J]

Bitcoin is a real Destabilization of the banking system

[Paul stuart]

With the ripple and the future bitcoin contracts I do not think anymore that banks are afraid now

[777asianinvasian]

Of course they fear cryptocurrencies but at the same time they do nothing to implement the technology of the future I don't understand. It is like they are waiting to get taken over completely, I would at least adapt and try to survive.

[sjyi]

Of course the banks, especially the central banks, fear the possibilities of any cryptocurrencies cutting into their profit margin.  The real loss for them would be when the governments start to use cryptos and the central banks lose the treasury sales and their guaranteed interest payments.

So they have to try their best to nip it before cryptos become a real threat to their dominance.

The crypto platforms need to provide a platform to safely and conveniently transfer the people's values to coins.  It's only a matter of time when that will happen.  I just wish all the efforts of ICOs can be combined to create a much better platform much sooner.