Do Banks fear cryptocurrency

[franciscoDC]

But in my country which is Philippines was looking to use bitcoin,and many branches here was already accept this bitcoin,so many of us didint worry about is,i think many investor would happy for this.

[Alert31]

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 bitcoin is the big problem of banks that's why they find ways on how to discourage people by using bitcoin. It will have a huge affect to banks because maybe there is a less depositor now in different banks because of bitcoin.Bitcoin can store online wallet even no need a bank aand we can convert and exchange it also with out a bank. That is the reason why we need to continue support bitcoin because it give us freedom with out control of any single authority.

[romandos86]

Albania has a very low turnover of cryptocurrencies. So this news won't affect on cryptocurrency)

[rhea1715]

Since the bitcoin's existence to the people and us people starting to discover and learn more about bitcoin, banks became afraid of cryptocurrency. They're afraid that someday the world won't be needing real money and that we will only be needing them whenever we need to withdraw our virtual money. But maybe in future, we don't need real money anymore, only our phones and pay through it.

[yurenchuang7125]

World bank President Jim yong Kim has also warned about the risks of cryptocurrency, after the head of the bank for international settlements denounced bitcoin as a "combination of bubbles, ponzi schemes and environmental disasters". In an event in Washington, Mr Kim noted that the vast majority of encrypted money was a ponzi scheme.

I think it's all Banks that are afraid of the growth of cryptocurrency, and they're worried about being replaced.

[MidKnight]

They already admitted it and now they are attempting to have the control on their hands and use it again for their own benefits and advantages.

[oceamp]

I also think that banks are afraid of cryptocurrencies. The decentralization of cryptocurrencies makes them out of market control. The economic market is easily destroyed and banks may not find a way to counterbalance Bitcoin.

[EdfuJihad]

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 should be afraid of bitcoin that is why they warned
people for the reason that fiat money will no longer be used
in transaction and banks will no longer be of use through digital
and decentralized transactions. It is just a warning, i hope they'll
not ban crypto there.

[Godday]

Banks will be slightly threatened by cryptocurrency. because it is based on blockchain technology that makes every transaction visible. and different from any existing bank that corrupt they could have a conspiracy with the corruption.

[Rosscy]

If I think based on the news I read on the internet, with the price of a bitcoin reaching a record high above $ 10,000, more and more lay people are considering investing in cypto currency. Despite the recent price hikes, but with big risks. Investors should be prepared for the possibility that they could lose all their investment.

In addition, the worrying part about bitcoin is that, along with other crypto currencies, it sues the traditional roles of banks and central banks. In the classical world, banks act as intermediaries by providing loans from deposits they deposit and from central bank financing. The central bank uses interest rates for the funds it provides as a jack to ensure price stability. some of the reasons are clear signals that professionals do not believe the promises of crypto enthusiasts.

For us crypto world warriors hopefully there is a clear law about this digital currency.

[MMS2017]

There are a numerous numbers of crypto currencies and banks do not fear crypto currencies and we have to make some decision about the bitcoin and many banks will fear crypto but as a user i am confident about the bitcoin currency and other crypto like this is good for me and the investment is these are also good. We have to worry about the bitcoin usage we should not use bitcoin for unnecessary purposes.

[SHUNNO]

I dont think the are scared of bitcoin, mabye they'occurring for just axiom that cryto is not safe and dont acquire in to it, hence that the people will mount occurring banks, its bearing in mind a publicity strategy, if something is growing happening in the matter and they are getting left at the in the sustain on they will take feign something to grab help that business upon top. so i think its just a strategy to them in order to people use unaccompanied banks and no appendage digital child support or cryptocurrency.

[mabell943]

Yes, the continuos growth and potential of cryptocurrency in our world trade market creats a big thereat in banks that sooner or later they can be replaced by this electronic coins in our society.

[conected]

Yes, the continuos growth and potential of cryptocurrency in our world trade market creats a big thereat in banks that sooner or later they can be replaced by this electronic coins in our society.

- The crypto world can be very developed but in the end, it's just investment with everyone, the money earned from crypto is also deposited into the bank, it does not have any effect on the bank, so banks do not need to fear crypto. In contrast, banks are very grateful crypto when it has opened a path that has many benefits for banks in the future because the government will rely on crypto to develop into the country's currency, the bank will become the storage place for that, open up a new service to help banks more profitable

[ayaayapotpot]

Maybe because bitcoin and other decentralised cryptocurrencies  allow people to trade directly with each other, cutting out the need for a middleman which Iin traditional commerce  is a bank. And also the accessibility of the not going out to the bank is also there.

[Spanopohlo]

I bet that the banks are the ones who are afraid, They really think that BItcoin ia a huge threat in their line of work. As, more and more people are unto BItcoin, their Institution would plummet down forcing them to die. Bitcoin as we all know is another type of currency and its the crypto, from that we can say that we are challenging other currency to be forced to back down and to inhibit the new currency to be.

[Gracie12]

Banks should always be concerned about the risks of encryption, as the popularity of encryption can threaten traditional industries.

[maknassy]

Should we be scared like the banks are scared? Yes and No, and ultimately yes.. but not in the context of what you meant. Banks fear the reduction of faith and use of the current financial system that would kill off the smaller institutions and create severe instability in the larger ones. I do not see crypto taking over since we live within governments that with hold on tooth and nail to their financial structure that keep the rich rich and the economy just above water to continue to line their pockets. What we should be scared of is the nature of the current global economic system itself and how it doesn’t serve the good of all. What we don’t have to scared of is crypto taking over just by the power of the people refusing to use FIAT…. unless it can be converted, controlled and used by a NWO type of government.

[art.tan]

Banks are afraid of bitcoin and  don't want Crypto market to grow. Bitcoin is getting more and more popular and  more people invest in  crypto, government and banks  lose their control from Economy.

[tvtoan1994]

Banks are not afraid of crypto because banks have government guarantee operations and always priority, banks are still developing