Do Banks fear cryptocurrency

[gvnsrbtc]

Some banks fear Bitcoin because they believe it will crash the fiat system. Some bankers believe in Bitcoin. Some of them like JP MOrgan CEO is using his influence to manipulate the Bitcoin price. Few days after making slandering words about bitcoinm, they are buying it

[bitcoinajax455]

 Yes banks also have fear of bitcoin, becouse this is business should we say bitcoin is invest. Banks fear with bitcoin, becouse bitcoin is getting more popular and demand. Many people and investors using bitcoin. Banks fear that thier market price will crush due to the uses of bitcoin.

[SergeYak]

Banks probably don't care about bitcoin at my opinion because they will not lose their money. Many people still using fiat and don't know about bitcoin or know but hate it.

[xxxRaidysxxx]

in my opinion yes bank is fear from crypto currency the reason is that crypto currency has no physical existence but the most strongest reason is that bitcoin is now legalize still in any countries so bank are rules followers of country and they are unable to accept a currency which are not legal in country

[grknondr]

Banks are afraid of cryptocurrency. The representatives of some banks have already stated the risks of this industry. I think they are thinking on innovations and adjusting their technology to the future.

[laracastvue]

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!

If banks are not afraid of cryptocurrency then they should because in the near future, there is a huge chance for bitcoins to become the national currency since different people are already using it for their own interest and use it as a digital currency just like credit cards.

[nankers]

my opinion for your statement is Bank should not be afraid of cryptocurrency, would be great if banks and cryptocurrency work together. cause bank will benefit from any cryptocurrency transactions and we as users Bitcoin or altcoin will be easier in transactions wherever we are. at least that's my thinking about banks and cryptocurrency ^^

[goldade]

My believe is that the banks are afraid of cryptocurrencies. As we all know cryptocurrencies are digital currencies and do not need the bank for storage or usage, banks believe that there will come a time when people will accept cryptocurrencies as currencies and will no longer need the operations of the bank.
However, I think that it is imperative that banks should be able to work together with cryptocurrencies to achieve a common aim in order to ensure its survival.

[CoinboyBebop]

At the beginning, when the first cryptocurrencies come up, im sure no bank or any employe reconized them. Even some years after when they gained some value, they thought it will be never danger for them. Now the last year, even the banks of the world see, that cryptocurrencies are seriouse business, and they dont have to underestimate the power of them. They also realized, that the blockchain technology who is behind, could be very dangerous for them and could make them loose a lot of money. So i think thats why they are fearing cryptocurrencies and try everything to shut it down.

[bitcoinbot]

I am not sure about the other cryptos, but I don't think that banks are afraid about Bitcoin now. Earlier they were afraid that Bitcoin will be used as a medium of payment. But high fees and delays in transactions have meant that nowadays hardly anyone is using Bitcoins for that purpose.

[webosftw]

I do believe that they don't fear cryptocurrencies, losing their customers rather. The fact that they were trusted by people with their money to be exchanged in a typical currency (the one that we usuually have in our country), would be affected if people would go and put their money in to invest in cryptocurrencies, and this currencies will be using digital wallets instead of bank accounts. Also, they don't recommend people to invest becaue of it's volatility.

[Txslady]

I thin its a YES! Banks fear for cryptocurrency because they are afraid for the very low prices and there money cannot be negotiate. Not only banks but also government fears crypto currency. Bank is probably the biggest enemy of the crypto market.

[Bitfling]

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!

Off course bank affraid on bitcoin. Bitcoin can disrupt bank bussiness because bitcoin offering fast transaction with low fees and bitcoin have own safe wallet that hard to hack

[jbdjy]

I think that the emergence of bitcoin makes the bank feel a crisis, so it will issue such a warning. If cryptocurrencies are really insecure, then why governments do not jointly intervene to block it is only a personal understanding.

[1jaffa1]

I think banks feels threatened but I do not think they fear cryptocurrency.  Remember cryptocurrency is just a code and anytime this bank institution wants, they can create one and adopt the technology.  People are  the one managing banks, these people are briliant and capable plus they have the budget.  Probably they just don't feel the need to change the current finance system since the still feel secure about it.

[taeewo]

They might but am sure with time they will also adopt the new tech called blockchain...

[tot-o]

Sentral bank was annoyed by bitcoin,  of course having competition when it come to currency specially when it comes to digital money for online shopping and online transaction that they have other options rather than a bank card?

But now many bank are looking for a way to work with bitcoin.

[Danglen1010]

I think banks has no fear in cryptocurrency because crypto can help them to reduce producing traditional money.
By this, it will help them to reduce the increase of having debt in the World Bank. Eventhough using crypto is starting to grow, still it can't replace totally the traditional money.

[TUSHAR@1908]

Offcourse the Bank will be afraid of Cryptocurrency and the main reason behind that is not the Cryptocurrency is not safe that because the Cryptocurrency will completely eat up the Market of Banks.
Just imagine all the transaction, bills, payments, money transfer, loans, insurance are regulated through Cryptocurrency than how the bank will make a profit as all the money which is involved will be clearly in front of the peoples to whom the Money belonged.
But as you know the Government will never let this happen as they are tied to the Banks so as they can make a profit for themselves as well as ruining the Economy of the country by bankrupting citizens of the country.
Now even, Lloyds Bank, Well Fargo Bank, all Bank of India have banned cryptocurrency because of they know Cryptocurrency will eat up the banks.

[pandanpanda]

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!

If I own a bank, I will be issuing the same warning. It is obvious because crypto currencies or digital currencies that we know of don't need banks, we can save them without their help. When you think of it, if bitcoin, for example become stable, they will be using it for sure, so the money that is entering the banks will stop because as I said, digital currencies can be saved without banks.

"We prohibit the providers of financial technology, e-commerce, and payment system service providers that use and process virtual currency. We also prohibit companies from working with parties that facilitate transactions using virtual currency, "