Do Banks fear cryptocurrency

[glaciercapital]

I think so because people who got bitcoins won't  make a loan by banks ,they rather used money from the bitcoins to buy stuff.

Yes, I believe the banks are beginning to realise just how big a risk crypto poses to their entire industry. And you can see that in the way they have begun to really attack the industry, however it will not make a difference in the end

[befriendmywater]

I think so because people who got bitcoins won't  make a loan by banks ,they rather used money from the bitcoins to buy stuff.

Yes, I believe the banks are beginning to realise just how big a risk crypto poses to their entire industry. And you can see that in the way they have begun to really attack the industry, however it will not make a difference in the end

The bank is probably the biggest enemy of the crypto market. Day by day they lose more customers because the crypto market has robbed their customers. Bitcoin, ETH, ... allow people to use the money transfer service quickly and very cheap. Your trading does not go through an intermediate step and it is the biggest advantage of the altcoins versus the bank.

[Troysen]

Not only banks but also government fears crypto currency. Banks fear bitcoin, because they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it, purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.

[Pinoyfan]

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!

To be fair they should not warn only about nature of cryptocurrency. Even in banks there are scams happening. Like what we saw in the news. There are many recorded transaction made like unexplainable withdrawal but the holder doesnt know about it. Yes bank will be alarm because many people will choose which is more safe when both are not secure. But if banks would have partnership to bitcoin would be a good idea.

[mkcube]

Banks fear for cryptocurrency because they are afraid for the very low prices and there money cannot be negotiate.They cannot make it as a trading for their investors.They cannot also control the money on how to work with it.

[AlexKr]

Banks are afraid of BTC and this is very predictable. With the emergence and development of BTC, the revenues that banks received in the form of commissions for the transfer of money were significantly reduced. And in the future, the need for banks will disappear altogether. Therefore, banks will resist the BTC to the last.

[Altf4]

Maybe some other may fear about bitcoins because they think it can make damage to their economy, but not all banks have feared with bitcoins because they slowly adopt or allign with bitcoin transactions.

[BrowneFlora]

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, Banks are worried that the development of bitcoin will affect Banks' funding sources too quickly. When people invest in bitcoins, they have no source of capital.

[BitcoinFrik]

When someone is dragging 900 billion dollars from your account to conver them to cryptos, imagine the nightmare. In the next few years the banks are going to be ruined!
And if not, the banks will go through major changes.

[CoffeyClement]

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 are worried about the impact of bitcoin on it. When people invest their money in bitcoins, there will be less and less money going into Banks. So Banks have been opposed to bitcoin.

[hermada]

I'm sure they fear crypto, or just ignorant. But they have the funds to get in to crypto and benefit from it.

[imstillthebest]

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 are worried about the impact of bitcoin on it. When people invest their money in bitcoins, there will be less and less money going into Banks. So Banks have been opposed to bitcoin.

Sure they are worried in terms of investment but not all people do invest in bitcoin because majority of people are still scared to it. Most people are still brainwashed in the false statement or negative feedbacks about bitcoin , that is why majority of the population will still stick on banks because banks are indeed legit and secure because they have a physical office. Unlike to bitcoin that is only digital and you can only see digits or numbers.

[dbstmddhks]

Yes, banks to some extent hate the crypto currency, they are worried that they do not receive any interest from the transaction. When in the real world for any transaction, banks take a percentage

[rcoins0720]

same here in Philippines , BDO issued a statement or something protocol making a subject for closure if one of their clients have deposit money using bitcoin.. if the person holder of atm card tracked that they have anything regarding bitcoins they need to close the account, hehehehe banks are fear with bitcoin and they know that bitcoin can lower their capital and income continue earning

[zelenkova]

Yes, of course banks will distribute such awkward information, they do not profitably perform the functions that any bank performs, if most people switch to crypto currency.

[LegendaryBrownie]

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 are scared of cryptocurrency because they will no longer exists if the bitcoin takes their place in the economy.

[Quesdana]

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!

There are certain factors that banks could be scared of cryptocurrency. One of them could be that people doing business with banks will lessen. But i don't think that banks will just sit and never make a move that can counter the problem. In fact some banks are now utilizing the blockchain technology to their advantage. So i can say that not all banks take the crypto currency as a threat to their existence.

[megynacuna]

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!

There are certain factors that banks could be scared of cryptocurrency. One of them could be that people doing business with banks will lessen. But i don't think that banks will just sit and never make a move that can counter the problem. In fact some banks are now utilizing the blockchain technology to their advantage. So i can say that not all banks take the crypto currency as a threat to their existence.

Well, they might be trying to migrate unto the blockchain but i don't think it is bitcoin's blockchain but their own created blockchain where they can manipulate things because the banks especially the central banks will not have absolute control over funds on the bitcoin's blockchain unless they create their own blockchain and this means there could be a conflict between bitcoin's bloackchain and whatever blockchain the banks might create.

[Luke Sherwood]

The banks are going to have to adapt to the new world order, I am sure they can afford to do that.

[CryptoZ7]

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. Again, 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.