Do Banks fear cryptocurrency

[Lilianaser]

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, of course, the Bank is very afraid of Cryptocurrency. If banks have bad-mouthed Cryptocurrency this means Bank is very afraid to compete with the digital currency. Because this is very threatening the development of the Bank in the future.

[jademaxsuy]

Yes they fear for us especially if we have put so much money in the cryptocurrency. Those banks are only for our good. But they are not interfering our monkey business with bitcoin. They are just reminding us and they can never let us stop from doing or investing in bitcoin. On the contrary the fear also that many of the people will come to realize that bitcoin is something an innovations that needs to be modified for the use as a centralized currency as to minimize the used for bankings that took so much from us with their big transaction fee. Relatively bitcoin system is not good for their business that is why they are always spreading negative side on the bitcoin system which they are correct also. So for us joining in the system should also be cautious and never should trust especially if big amounts of money will involve.

[PM.coins]

actually the bank is not afraid, just have not been able to find the right solution to solve the banking problem so suitable for future use. well, while cryptocurrency is ideal for that. then, some banks today are beginning to adopt blockchain system. I think this is very good

[main320]

I think there is a risk occurring between of them. The banks and cryptocurreny are accomplice since they are include in same time of business,

the thing is numerous individuals are on the right track to pick the administrations of bitcoin rather by the bank; so for this situation there is a contention happens.

From this the business banks sees the colossal capability of digital money in the business which at some point or another it will be number one.

[hunter50]

There is a difference between banks and central banks.bitcoin and other crypto currencies are competing agains them.the central bank of Albania are certainly not going to be the last to whimper over bitcoin and crypto currencies.right now the banks were with plans to get integrated with the crypto currencies and provide service but here in the Philippines some banks are involve in bitcoin transactions and I find it good.

[frankybutterin]

I think banks are afraid of bitcoin because many investors are more interested in cryptocurrency than the banking sector. If this is allowed then the flow of funds coming into the bank will decrease. and cryptocurrency can also protect our investment value from inflation. better to invest in cryptocurrency than in bank but both have risks.

[Jigsawman082076]

Well to tell you frankly, I do really believed that the banks are not really afraid of the steady rise of bitcoin and all the other crypto currency out there in the market today which gains a steady growth of followers and users, I think banks are not afraid of the crypto currency but the banks feel uncomfortable on this situation because with these crypto currencies banks will be losing clients.

[Legwist]

Yes they do because they know that people will not trust the bank and will invest all their money in bitcoins, the money of traders or investors will go to bitcoin instead on saving it in the banks. But if i own a bank, I'll just think of making my own coin.

[MS.LAWLIET]

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 don't think so. here in our country some of the bank are where we can cash out our bitcoins. whenever we cash out bitcoin they are getting some transaction fees in that way they can also benefited by bitcoin. the more money you cash in and out the more trnsaction fee the earn.

[shesheboy]

Yes they do because they know that people will not trust the bank and will invest all their money in bitcoins, the money of traders or investors will go to bitcoin instead on saving it in the banks. But if i own a bank, I'll just think of making my own coin.

what? i think your saying it wrong. banks is actually more trusted and verry well known a long time ago ever since bitcoin still didnt existed. And that simply means banks do have a lot of supporters and investors when compared to bitcoin or any other cryptos. Cant you see? There are still many people that are doubting in cryptos even though cryptos are now well known around the world.

Re: Do Banks fear cryptocurrency

yes they are but not all of them because there are also banks that suports bitcoin. there are also banks that hates bitcoins so much because they see it as a threat.

[sunny7408]

Yes this is the reason that many country ban bitcoin and many country think about ban bitcoin..
But bitcoin grow always i wish...

[Pier7]

Bitcoin allows people to manage their own money without the need of the bank and the transactions are fast and cheap. More and more people are gaining interest in bitcoin and started to withdraw their money in the bank and invest it in bitcoins. It is a big threat to them and they have the reasons to fear it because it has the potential to change the world of money.

[Addywealth]

Banks are very afraid of cryptocurrency that is why they are trying to create fear in the general public. They know if bitcoin should thrive it will reduce their transaction and customer based definitely it will crumble their service and also make the physical bank not relevant. They will loose those charges they imposes on their customers  because bitcoiners will prefer to put their money in bitcoin that gas prospect to increase than saving it in a bank that won't yield any increase

[ilonamihaly]

yes,of course. bank afraid with bitcoin. in my country they afraid not popular or not be place that be destination of many people. and it make bank decrease their income, make them disappear from people thought.so,Bank fear cryptocurrency...

[udanemas]

Banks are not scared of crypto currencies, they are only trying to keep safe their country's currency.
Instead of crypto currencies to make banks disappear, they will work together to achieve one aim.

 it's true mate. The banks only keep afe their country's currency. because by seeing at the phenomenon bitcoin some countries will feel worried about the currency. It's the reason.

[PilosopongTacio]

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, its possible that banks are scared of cryptocurrency. Because it will threaten their business if people would know that its more profitable to invest on bitcoin than putting your money on banks. Where banks used it for their own benefit.  We should remember that its our money they used for different things, they developed a system where they held your money and they circulate your money by investing it on other businesses too like real estates and housing projects. etc..
Have you ever wonder how you cant take your money back whenever you like it or anytime you want?. How come you cant take whats righfully yours in the first place?.. If people would only realized that its what banks do to their money..

[belousov]

Of course , they fear crypto. It is cutting out their fees and banks are loosing a lot of business because of this. There was a thread here which mentioned that how banks are pushing news in media against bitcoins.

[Prinox2]

I talk to a whole lot of bankers everyday, and I've yet to really come across a Bank/Banker that fears Bitcoin.

Most of the bankers are oblivious about Bitcoin and how as they put it the whole Bitcoin economy works. Scanty knowledge is prevalent amongst bankers. Very few really understand how the Blockchain works and what it means for bankers.

Fear would be a wrong word. I think they don't view it as a threat so much (do remember, there is much more to banking than just what exists in the US), there are 220 countries and territories that have banks. Cumulative popular opinion is that bitcoin, at present is not a threat. It might be interesting, but not a threat, and nothing to fear.

I feel, complacency is the right word.

[nvt2511]

I think, so many banks fear from crypto currencies, because they know that they are booming at the moment & most of the online people using crypto currencys to make transactions nowadays

[tramadol12]

I think it's just the fear that's being distributed,
cryptocurrency does not require a third party, because that's the third party who is worried about its existence is threatened.