Do Banks fear cryptocurrency

[Marucya]

Large US banks are very afraid of Bitcoin. The growing popularity of crypto-currencies poses a threat to financial institutions.

[javadsalehi]

 8)I think any thing which attracts investors and causes the people to not put their money in banks is a threat for banks. So bitcoin is a threat and banks don't like it.

[Falgorn]

The spread of digital money is undesirable for banks. Banks faced the problem of lower demand for loans, lower profits due to lower interest rates and fading hopes for deregulation.

[tachi641]

In my opinion, they will fear in the popularity of the cryptocurrency because cryptocurrency are their most competitor and crypto has more benefits than banking. People are now beginning to see that you can make more money without having a bank.

[JoseJoseJose]

Bitcoin offers a new gate of possibility specially for students and unemployed. Banks will be afraid of bitcoin because they may loss the paper nonetary system if bitcoin will be successfull decentralized coin. And banks may loss also money and job at the same time.

[Michellekking]

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 Banks need to worry. They know that cryptocurrencies don't need Banks, and when people invest in cryptocurrencies, Banks lose their meaning. So now many Banks have resisted bitcoin.

[Sar elok]

Cryptocurrency is currently not yet safe because there is no authority which ensures kelangsungannya. The Bank was afraid circulating bitcoin too much of physical money, then indirectly will turn off the bank.

[mukuro04]

On my perspective they should be. Because when you invest in btc, the money that you invest grows faster and in a large amount rather than investing in a bank which has only a .75 percentage interest in a month. And in btc its tax free while in the bank that has a tax

[galestorm]

In my opinion, banks wouldnt be that much concerned when it comes to cryptocurrencies because of the fact that there are those who prefer to convert bitcoins to cash, like old fashioned citizens, they would definitely keep that portion safe in a bank.. though what i do now is that the government is the one who fears cryptocurrency the most.. why? Lack of man power within the society. When people start to lean on bitcoins they would definitely not work for the sake of fiat money.

[Hmei777]

there is nothing to be afraid of because there are some people who redeem their bitcoins on real money and keep it in the bank. I think if the bank can cooperate with crypto currency then it will be mutually beneficial.

[vasrasus]

This should be a challenge to the banks some banks are adopting it and taking their advantages like what Union Bank did, I think more banks will follow hem soon ,crypto is a new innovation that soon everyone will acquire.

[Kingigolo]

Yes, I believe banks are because cryptocurrencies have come to take their place as a means after easy access to money and easier payments. Take ripple for instance, once fully implemented will usurp swift which is more or less operating unchallenged.

[bitfocus]

Bitcoin is the ultimate bank killer, due to its nature bitcoin can kill the present banking business anytime - we just need to start using bitcoin more and more - all the banks will be gone.

[Bdstar]

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 so Since this platform is becoming a popular and profitable platform around the world so that the conventional banking system getting afraid of this blockchain technology especially Bitcoin. Since this platform is not an old system but It has already created a trusted and accepted platform for making money and payment purpose.

[ohzeih5n]

Yes they do, they fear the evolution of crypto in general, It push them to make pressure on governments so that the big bosses of the country make such huge restrictions in the use of bitcoin and alts..

[AymDoo]

Crypto currencies are the biggest enemy for bankers. The whole idea about decentralization is freaking banks out because they will no longer have people's money to control them. People will be their own banks, they move their money at any time, to anyone, and at extremely low fees. If every person can do this, why do we need banks!?

[fleda]

Bitcoin is the ultimate bank killer, due to its nature bitcoin can kill the present banking business anytime - we just need to start using bitcoin more and more - all the banks will be gone.

I think that is not going to happen especially when governments are banning bitcoin from their country. They are preventing this from happening, because they know the capacity of bitcoin to take over banks, because of its technology and the different advantages that people get when they are using bitcoin.

[Venzter]

 Bitcoins are not yet legalize currencies in today's world there fore it is not wrong to say that banks are yet not terrified due to the use of Bitcoins at such a big  rate.Therefore this thing might become possible but it would take much more years to be in the picture In banks even today the paper money is more useful for transactions even at the national as well as international level. But lets hoping that it would be possible for upcoming years.

[Jerical13]

In my opinion, banks are not afraid of bitcoin. On the contrary, they want to receive interest from transactions, which is not happening at the moment. Now imagine what cash flow is transferred daily from one purse to another and the banks do not receive anything from it

[Lucas777]

The news was on July 15, 2017 about banks in Albania. The correspondence is very long is not about Banks of Albania. Can someone tell what happened?