Do Banks fear cryptocurrency

[hatun]

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 there is nothing to be afraid. Usually people resist to change. Since bitcoin is a new form of currency based on block chain technology, many banks have no clear idea about it and condiser it as their competitor. Therefore they are afraid of it.

[khurramshah]

Why not the banks are feared for cryptocurrency the nature that bitcoin provided to its users allow them to make payments all around the world without any involvement of banks so this is the bink risk for banks to fear from cryptocurrency

[megalith07]

Truly bank afraid with btc in my nation they afraid not prominent or not be put that be goal of numerous individuals and it influence bank to diminish their salary, influence them to vanish from individuals thought.

[Black Angel]

Of course, as we know that the current cryptocurrency marketcap continues to increase significantly so that it makes banks feel threatened, especially if the government legalizes cryptocurrency can make banks disappear.

[neo444]

I think the banks are fear from cryptocurrency because they don't know how can control and earn the transactions of money happened by cryptocurrency

[playerbtc]

Yes the should fear cause crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. And it evolves to break the back bone of bank which is a centralized mone managment system. But btc and other cryptos decntralize system it works independently. Like know one can trace it down who is having how much money is being protected in a certain way like there is no way. And investments on bank will go low affirmatively as people are investing money in cryptos somw may be taking lone and investing in btc and enjoying the profit. Its a threat for bank for sure.so fears are expected .

[mabell943]

No. I think they will more treat it as a friend because cryptocurrency will help them to control producing traditional money if many people will use and patronize it.
By this, it will help them to reduce the increase of having debt in the World Bank.

[bakulsandal21]

Of course they are, cryptocurrencies basically rob them their source of money.

In case cryptocurrencies get globally adopted banks will lose their mighty position as moneycontroller

[bts378]

If you asked me exactly the same warning I would have done in relation to banks. They probably think that people forget how many banks died in 2008. It's all just competition in the Finance market. Banks have lost the clients, and the process continues.

[mitsuki]

Banks should follow the new technologies.
Cryptocurrencies do not avoid Fiat but helps making new utilities to make payments and stake much more easy and secure.
Banks may have problems with decentralization and owning personal data of their custumers.
Many of them adopt the new tech in order to satisfy clients and invent new way of profit.

[Filthy1]

Yes of course they do they don't want power to the people they want to be in control manipulating us all keeping us locked in to a world of fiat debt.

[angelakrasnova]

Because the Crypto-currency takes away from them the people who are serviced by their serivis. Loss of people loss of money.

[mifanmuzny]

Well in the case of HSBC, it is because they got spanked by the US regulators, so right now they are not involved with anything that might remotely be risky.  They got so much bad press and bad fines from the US, that if we found that drug dealers were using chicken restaurants as a front, they may stop lending money anyone that has anything to do with chickens.For everyone else, as of 2015, banks are starting to fear bitcoin for the right reasons.  Big consulting firms like KPMG, Accenture, and Deloitte have started scaring the banks with stories of Kodak, Polaroid, and the record industry, that the banks are starting to be very, very worried that their business model is obsolete.

[xiaohao111]

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 now worried that cryptocurrencies will affect their position. Now that more and more people are joining the cryptocurrency, the amount of money flowing into Banks will be reduced.

[IlbiStarz]

Banks fear of cryptocurrency as a whole. And in specific they try to give the same kind of service as that of bitcoin, because they've found people in fond of bitcoin for various reasons that cannot be provided by the banking system. Banks were the one that serve to be the base, but at some point it lacks in service.

[VeganNation]

Absolutely! The whole point of bitcoin is that it's on a decentralized system so there are no third parties involved. AKA no banks are needed for the completion of transactions, and that's what can put them out of business.

[Rony24h7]

Cryptocurrency is a very useful thing now. Most of the people are joining with this and getting so much benefits from this system. People who doesn’t let fall their money and want to increase the amount of their money invests into ccryptocurrency and developing their economic position.
For this reason some people doesn’t put their money into bank but this is not harming on bank because we can not do all work by cryptocurrency. We have to go to the bank to do our everyday needing. The main thing is cryptocurrency is limited so that all people can not use cryptocurrency and they does all their work by bank. I think this is not harmful to bank so that they doesn’t need to fear about it.

[Techno012]

Banks do not fear cryptocurrency. Most likely they do support cryptocurrency because they can also use it as an alternative way of getting investment in their banks. Without a bank how can digital cryptocurrency become real cash . So they are both even and there is nothing to fear of such things. They both need each other and they are also related as other currency here all around the world.

[oracleongoodbye]

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 yes but not totally because they are also backing their own crypto currency in this emerging industry of blockchain that is totally better than bank system but bitcoin cannot kill banks that easily because all business is using banks as storage of their business money for safety but bitcoin is much better because the capital appreciation is really higher than bank interests

[lance04]

No, they doesn't afraid in the power of cryptocurrency because they believe it will brings an advantages to them. Cryptocurrency is just an option for us if we want to have more income.
I believe many people will still go on to our traditional money.