Do Banks fear cryptocurrency

[ciciliacrypto]

i think it has something to do with safety and lack of regulation,moreover people are queuing in.

[heisenberg0000]

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!

Or should we say that banks are causing this negative news so for us to sell our btc holdings so they can buy at the dips. I think banks are not dumb enough not to see the potential in the investment of crypto currencies. These banks have skilled portfolio manager that is possible investing into crypto currency already.

[echo11]

I think banks will create their own crypto currency where they have full control over it banks deal business like that a centralize monitary system that business profits in fact i think they are profiting in the current bitcoin craze in the market.

[tera linh]

The bank is worried about the development of crypto, the bank has the management and it focuses, while the bitcoin is private ownership.

[david roman]

Banks are afraid of crypto, maybe crypto will replace the bank in the future

[zsoul]

Yeah banks are worried, and Governments too. Not just about losing control of their monetary policies and systems, but also for the safety of the general public.

Whilst we understand the crypto markets and the many issues and pitfalls that come with it, the average man on the street is jumping into shark infested waters.

It took decades for banks to get a grip of fraud involving card payments. Credit card fraud was huge and still is, even after many many security developments such as chip and pin and others.

Imagine how many ways your Grandma could get scammed if she was using crypto to pay for things haha. She's probably just got her head around paying by card and using internet banking.

This is a major hurdle that needs to be overcome before crypto becomes mainstream. Expect plenty regulation to follow over the next decade if it continues to grow and be adopted.

[Komandor8957]

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 Central Bank of Albania, not much affected by the world community and their relationship to cryptocurrency. At the G20 summit said that at present, the global financial system is not afraid cryptocurrency.

[tera do]

Banks are afraid of bitcoin, banking systems are all the way to attack bitcoin but fail, bitcoin still exists and grows

[claydeey]

Definitely yes! Banks fear the existence of Bitcoin and other cryptocurrency because they might loose their business if most of the people chooses cryptocurrency that is the very reason why banks are giving negative feedback about crypto.

[vaughn125]

Definitely yes! Banks fear the existence of Bitcoin and other cryptocurrency because they might loose their business if most of the people chooses cryptocurrency that is the very reason why banks are giving negative feedback about crypto.

Well, I cannot disagree with that because looking at the circumstances, it really is possible to happen if mass adoption really does happen in the whole world regarding crypto currencies. But the thing is that the governments will not allow this to happen because they can see lapses in the block-chain technology. Which is why I think that they will take advantage of these lapses to delay the legalization of cryptos and help the banks so that cryptos will become regulated. That is what I think.

[Silentsweeper]

I belief that Banks fear cryptocurrencies as the blockchain is immune to fraud and hacking, this provides extra safety to users that the bank cannot provide. Basically it does what the banks do, only better. The biggest threat right now to the traditional banking model is cryptocurrency. Governments also have a vested interest in the success of fiat money and allowing it to keep its hold on the financial world. As they issue the money they hold the power to influence and control it not to mention to simply make more of it whenever they want.

[K0korap]

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  simply capitalize on the safety that it could offer on handling our money. They also offer insurance for the money that they hold and through this they get to offer loans and investment to people. With crypto all of these were simply innovated. Though conventional currency is still accepted and "secured" ; crypto became a more versatile medium of trade which is beyond the control of banks.

[poletando]

bank afraid about their costumer use bitcoin and dont use their service anymore, and if it happen the bank will broke. secondly they afraid about bitcoin because bitcoin have a high tech to manage their transaction, they afraid that their system is not good and fast like bitcoin. of course banks afraid about cryptocurrencies 

[EfterlysT]

Banks should not be afraid of cryptocurrency because they can take advantage of this cryptocurrency phenomenon to establish cooperation even without even realizing they have established cooperation because until now if the user wants to exchange bitcoin into money then the users will use the bank facilities to take the money that has been redeemed through various crypto onsite services.

[Gumpfire]

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!

For some reason I think it does since it imposes a threat to their existence wherein as time passes by and as more and more people patronize bitcoin, the higher the chances that bitcoin would replace banks. If you would compare the two, you will clearly see that bitcoin is way more better than bank but still we should support both of it as it gives us financial assistance and helps the economy.

[King Sastro]

The bank is worried about the development of crypto, the bank has the management and it focuses, while the bitcoin is private ownership.

The purpose of banks is for profit, I do not think banks need to be woried with bitcoin development, if bitcoin can not be stopped then the best solution is to accept bitcoin as a product or legal investment in banks.

[george888055]

They don't have fear in common. Some of them are afraid of Bitcoin because it would force them to innovate. Bitcoin is but the most famous example of an emerging technology network with the potential to improve banking.

[Arsenyo]

Of course banks are afraid of cryptocurrency. They cannot control it, influence on its price, so they are afraid of this helpless and try to make others to be afraid of crypto too

[mensha]

Some extend yes. Banks have more concern and more attention on cryptocurrencies because of following two major reasons.

1.       Roles of the banks are completely eliminated by this decentralized millions of Blockchain peers.

2.       Issue of privacy and anonymity

Moreover cryptocurrency transactions are more transparent and anyone in the network can verify any transaction.

[Girtod]

banks want to warn people that cryptocurrency carries great risks in the field of consumer and investor protection, tax avoidance and money laundering