Do Banks fear cryptocurrency

[Sapphire9]

Yes, banks are afraid of cryptocurrency, because it may easily replace them in future. More and more people use cryptocurrency, so banks started to loose their income

[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!

Banks do fear cryptocurrency. Central bank of Nigeria have been from time to time continued to issue warnings to the crypto users to stay away. But banking institutions should know by now that they can not win the fight. Smarter ones are looking for a way of tapping into the advantages there in.

[Cookie Man]

Banks are threatened by cryptocurrency as there is a feeling that crypto will push them out of business and outface them in the process, the freedom crypto offers, the safety of their information and the privacy of their transaction may be apealling to the masses hence attracting them to crypto and away from the banking institutions

[Sowik]

No, they don't but they can't control it yet so they are banning it for now. They will have the chance to control it with the Lighting Network tho, research this matter. Banks are the ones destroying bitcoin even at the moment.

[callmeback]

Not really because in the future maybe the bitcoin will try to be partnered with all the banks. Some are saying that cryptocurrency will replace banks in the future. But banking institutions should know by now that they can not win the fight. Smarter ones are looking for a way of tapping into the advantages there in. People will look for places other than banks because banks always deal with cash or currencies where everything is controlled by the bank. Normally Bitcoin was created as a solution to the  problems created by the Bank  to the people.

[travelgear17]

within the case of Bitcoin, what is being enabled here isn't always merely a new marketplace, but a marketplace of markets; a platform for all forms of new markets to emerge. In it, lies the promise of a metamorphosis, as peculiar because it sounds, extra than the internet. Denying the sort of ability is identical to denying the truth of globalization.

that is why banks had higher embody the experimentation around crypto technology and enterprise fashions—in consortia in preference to alone, with a purpose to reduce risks and so that it will foster and form the set of suitable platform innovations as a way to come over the subsequent decade, one way or some other.

[simongoat]

they do otherwise they wouldn't be negative on them and would be trying to use the blockchain.

[Cryptogid]

We should not be afraid of bank against cryptocurrency,as for now ,guarantee trust Bank in Nigeria Now has a coin, called Gtcoin,and access bank helps to do transaction for bitcoin, and etherium,so the cryptoworld is gaining momentum gradually and others will eventually follow..

[fetokun]

Yes they do. As the decentralized nature of bitcoin threatens the monopoly of banks over the world. Bitcoin has the potential to make the banking system obsolete. Why would we fear banks? Even if banks ban bitcoin purchases through bank transfers or cards there is cash options.

[EugeneJanet]

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, I think Banks are concerned that cryptocurrency will affect their business. When large amounts of money are flowing into the cryptocurrency market, there will be less money flowing into Banks.

[Lucas Kronenberg]

Ofcourse they are feared, because almost all goverments dont know how to manage this economic power

[Daveeoff]

I wouldn't say that they fear it. They can crash Bitcoin whenever they want so no. We should fear them.

[phpartisanmaster]

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 always see this kind of scenario where banks are really afraid of the growth of cryptocurrency that's why they warn people about cryptocurrency that it is a scam. Its true that cryptocurrencies growth might be a treat in the future because if people will continue to invest then there's might be a small chance for cryptocurrency to rule the world someday.

[chidrawarster]

I feel the banks are not feared of anybody as they have their own regulations and policies.What i feel is that they may use the blockchain technology in their daily professional needs to increase the speed of the banks transactions and make the process more transaparent.Thats what should be the motive behind the banks thinking and also their psycology .

[deepakg2m]

Humans fear to lose their jobs to machines. Machines are reliable, work 24/7 and ROI is way better compared to a human. So, of course, there is fear of something new, but we humans are able to adapt to new situations. Banks will use cryptos or slowly die.

But the thing about cryto currency is that you can keep them safe without the help of any banks.

As you have said, humans adapt, businesses and banks must do too so they can survive in these cruel world. But the thing, banks may reduce in the future because of the digital currencies so they are fearing them.

Exactly the truth of cryptocurrency era.Everyone is getting directly or indirectly dependent on machines in every field now a days.And also as already mentioned by you, the safety of our cryptocurrency is in our hands which everyone prefers over depending on others for safety of our income.This increases the fear of cryptocurrency among banks.

[bitkaboom2]

Yes, i think, and they should have to be.Because the cryptocurrency is gaining popularity day by day and people are investing in huge amount .Thats why they are giving warnings about the cryptocurrency's security to stop people investing in it.

[rose9696]

Yes, i think, and they should have to be.Because the cryptocurrency is gaining popularity day by day and people are investing in huge amount .Thats why they are giving warnings about the cryptocurrency's security to stop people investing in it.

True, cryptocurrency is a big competitor to banks. The bankers are always upset about the crypto market and every day it releases bad news about cryptocurrency to undermine it. But the real cryptocurrency is much better than bank. So recently, my country has had several bankruptcies. And the future of the bank is very dark.

[Satish147]

Definitely, Banks are getting feared by because of cryptocurrencies. Recently J P Morgan prepared a report where they found results that banks are being threatened by the new Fintech startups.

[klavyemaus52]

Yes im sure about this subject because  banks are gaining so much money without this system

[coinnumber]

Yes banks are scared of Cryptocurrency because they don't what cryptocurrency to overshadow the country currencies which may affect the economy of any country apart from that reason I don't think Banks supposed to be afraid or scared of cryptocurrency.