Do Banks fear cryptocurrency

[RedzoneASE]

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 that the banks is afraid of cryptocurrency. In fact many banks already adopted on how crypto market works. They already set their eyes on innovation which could probably benefit them in the near future.

[Chooroz]

Of course banks fear cryptocurrency. Cryptocurrency can substitute banks and financial institutions and allow people to manage their own money with no intermediary.

I agree with you, banks really fear cryptocurrency, because cryptocurrency is the future of this world and i know that many people in this world will choose to invest there money with cryptocurrency rather than saving it on the banks.

[nvt2511]

i don't think so, because bank can take advantage from it, they can open their own bitcoin exchange if govt. Allow and implemented technology in banking system ( block chain technology). Blockchain will increase bank's efficiency and services, i don't think bank fear from crypto.

[infested]

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!

Ofcource they are scared. When crypto adoption rises their "services" will be completely disrupted.

Name one service that crypto or any other non profit decentralized organization cant offer in a better way. Banks are practically useless greedy parasites. They know that and they will fight up until the last second to grab as much profits they can before they go extinct.

[Eijrafarm]

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 it is possible. Cryptocurrency is one of a competitor for most of the banks due to its decentralized platform which drag more investors. Banks is threaten because there is already alot amount of individuals who pull out their money in order to put up in crypto currency.

[vnck25]

Well, I think most people really don't have a clue about the versatility and value of cryptocurrencies including bitcoin. They just jump into making a quick profit from cryptocurrencies as well as from Initial Coin Offerings (ICOs) I think most banks are warning the public about the risks involved in those types of investments.  The banks and governments have obviously identified the importance of cryptocurrencies and blockchain technology and eventually they will adjust to the flow and implement their own cryptocurrencies and blockchains. So I don't think banks are afraid of cryptos at all. Crytos have a long way to go in terms of getting mass adopted.

[bjmpoker001]

i think the existence of cryptocurrency will disrupt the bank system in our world.
they may not fear crypto, but they will trying to make crypto won't replace bank system in the future.

[warning_btc]

Losing customers by banks through crypto. Its manipulated meaning because for now crypto not uses for pay massively

[universal3ee]

From my view we should not be afraid of crypto as crypto compare to bank the biggest difference is bank being centralize and crypto being decentralize. If crypto is adopt by vast majority the bank stand will be shaken. So they rather destroy the enemy than wait for being destroy by the enemy.

[liamnorthcoins]

Yes they really 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. But here in the Philippines some banks are involve in bitcoin transactions and I find it good.

Yes I think the same, though people might say they are just protecting their clients they are actually safeguarding their investment too because if their clients transfer to bitcoin they will suffer a big loss financially. Bitcoin has become a threat to them and a big competitor. I even think the this banks and certain governement are funding black propagandas against bitcoin as a sort of attacking it in a subtle way.

[royalcrypt]

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.

[van jones2594]

Banks are  really afraid of Crytocurrenies,fear of no central authority or middleman transactions,i think this the primary reason why government are afraid of the cryptocurrency  too.Not like the fiat currency were government have control over it

[hsjd569]

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 bank is afraid that btc will exceed the legal currency. Real cash is usually eaten by inflation. This is why investing your money in the bank is not always a good reason, because it only compensates for the loss of your money over time. In addition, Bitcoin offers more profits and allows users to gain privacy while investing. In terms of transactions, btc proved to be faster and more convenient.

[airdrop.bounty]

Bitcoin has no tax now in some countries, but it will have tax in the future. If you make income from it, you HAVE TO pay tax not to be charged by your government. I think banks are fearing bitcoin.

[naldal kaka25]

Yes, they have this fear. More and more people do not trust banks that take extra money for withdrawals and take commissions for most of bank operations. Banks are scared that those who own bitcoins will stop using their services and they will get a great crash.

[kusach01]

I think banks do not want to keep crypto like bitcoins, to have a safe wallet. We do not want flowers for them because their value is increasing rapidly. And when we talk about many ICO companies raise funds. via ICO for their project.

[dvmd catona]

I don't think that cryptocurrency can prevent banks from working....why would they be afraid of it?

[aucoin]

One will never replace the other, it's impossible
What should banks afraid of?

[supermam]

Banks should not be afraid of cryptocurrency because people are already familiar using banks in their transactions so no worries for bank owners ,banks had already stablish their position in the market.

[MetalGear]

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 banks and cryptocurrency should compete againts each other. People should unite both parties so that we could maximize their potential and open more opportunities. Banks should fear nothing because cryptocurrency's only aim is to help everyone and not ruin any other industry in the economy.