Do Banks fear cryptocurrency

[neerajmittaljii]

There is a difference between banks and central banks. Central banks control monetary policy, which can be rendered ineffective if enough people start using crypto currencies. Hence central banks issue these periodic warnings. ranks should follow the new technologies. Crypto currencies do not avoid Fiat but helps making new utilities to make payments and stake much more easy and secure.Banks may have problems with decentralization and owning personal data of their customers.Many of them adopt the new tech in order to satisfy clients and invent new way of profit.

[decano]

Banks fear crypto currencies surely, regarding its fast growing lastly they fear it will be the most used currencies worldwide and that's isnt compatible with the banking system interests.

[NO2X]

I am very convincing of it. Because banks can not fight against people who already know with crytocurrency. In cryptocurrency itself we are not bound by anyone and any party...

[kasianov77]

I think so, yet not so much, but worried for sure. They are already developing various plans to influence, protect or implement this technology in their field.

[MWesterweele]

I think so, yet not so much, but worried for sure. They are already developing various plans to influence, protect or implement this technology in their field.

Yes because cryptocurrency can be used without third party, means no banks, and they're afraid of that because they cant get any on it, and they are scared of that because the cryptocurrency might be their biggest competitor on the future. They're scared that the people might not use banks for their money but will use cryptocurrency to invest and get high profit without paying for the services.

[zngit]

We shouldn't be afraid for some banks accepted cryptocurrency in there domain as storage of money or treasure of every supporters. Bank have the responsibility to maintain their income and not be wasted by the new coming crypto. Now banks recognize this cryptocurrency face on earth we shouldn't be afraid.

[matedrink24]

We shouldn't be afraid for some banks accepted cryptocurrency in there domain as storage of money or treasure of every supporters. Bank have the responsibility to maintain their income and not be wasted by the new coming crypto. Now banks recognize this cryptocurrency face on earth we shouldn't be afraid.

Yeah but the problem is if they don't accept them then they will try to destroy them instead because actually cryptocurrency are in the same functions of banks which means someday they could replace them to do their job.
Bankers know about this and they predict this could happens if cryptocurrencies are stronger day by day so actually they try to make things difficult with crypto market like right now.

[Habakkuk]

The banks are doing everything they can, not to let bitcoin become popular because they will loose there customer.
We just hope for the best

[rina aulia]

if more and more people use crypto, then bank customers will be reduced, it is very clear they will ban it
little that I know about it, but I do not care about the ban by the bank because of crypto my current income

[Nuwan2018]

If I owner of a bank, I will warning. Because crypto currencies or digital currencies. therefore we don't need banks, we can save them easily. Bankers are afraid of cryptocurrencies because unlike bank they have higher fees and it have some lots of requirements it needed, whereas in bitcoin and other cryptocurrencies it is fast and it has lower fees so if the cryptocurrency will boom they will not be needed that's why they fear it.

[Techie5879]

The banks are already afraid of bitcoin, due to the fact that it might soon make them obsolete. Banks have already seen what the blockchain can do, and with bitcoin into the play, their industry of capitalization might just be rattled. They wont be able to charge us enormous interest rates, and we all would just be using bitcoins, money for the people, by the people, of the people. For now, banks just will be  wary of BTC's rise, as mass adoption rates arent too high, but in the near future, they should be afraid I guess...

[chacha4twenty]

banks are doing best to stay away their customers to BTC. Right now banks are very afraid and they should and definitely they will.
btc is the future currency, nobody will be go to bank for transfer money.

[gorandigitalnomad]

Bitcoin and other  cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.

Banks generallycharge fees for doing anything with money, even just holding on to it.
Bitcoin and other  cryptocurrencies removes the need for any kind of traditional bank or regulator.

[Ianhadi]

Banks must be afraid of cryptocurrency, because cryptocurrency development is so fast and can replace the current banking system, the bank system is now quite old-fashioned, unsafe and expensive to maintain and use it, with the presence of bitcoin and blockchain systems, can use the blockchain system.

[xxxRaidysxxx]

Phisicks banks are afraid and craziest of bitcoins because of a new technological block chain behind it. The decentralized character does very popular today that almost many countries know about it, and some countries have legalized it. Therefore if people begin to compare bitcoin or banks, they for certain will prefer bitcoin, it threatens a banking system.

[teejayrichard2]

yes banks do fear cryptocurrency, they feel it will overshadow the use of fiat currency and this means bad business for them that is why they kick against it

[kalstarzz]

there are many things that make them issue such statements.
they are afraid bitcoin is in the wrong hands and abusing it, and they are afraid bitcoin is in the inexperience to make the person lose or even the bank is afraid of losing the mark with bitcoin because in fact bitcoin does not need the bank.
this is just my assumption

[miti bounty12]

Yes I am also thinking the same as banks are starting to fear bitcoin for the right reasons.  Big consulting firms like KPMG, Accenture, and Deloitte have started scaring the banks with stories of Kodak, Polaroid, and the record industry, that the banks are starting to be very, very worried that their business model is obsolete.

[dragon 88]

I think yes because they fear bitcoin can give some storage and savings to btc users and thats the reason why people will not use bank for their money to store and for their money to be saved.

[J-N]

I think, yes, banks fear a widely adoption of crypto-currencies. Moreover, the financial and payment cards companies fear crypto-currencies. But take a look at Ripple, it is the third coin according to capitalization. Now its transactions are faster than Visa, and banks approve this "crypto-currency".