Do Banks fear cryptocurrency

[gtx1060aa]

I think bank of all levels feel the potential threat of cryptocurrency. Central bank worried about losing control of fiat, investment banks thinking about ICO replacing IPO, retail banks worried about crypto wallets and cashless transactions. Bank will fight with cryptocurrency with exactly the same tech - blockchain. I believe the world will eventually integrate rather than clash.

[gtx1060aa]

Why should they fear cryptocurrency? Banks have created working model, large business and clients all over the world. Bitcoin and altcoins can't kill or replace banks, so everything is okay. Look at market, in future banks will sell bitcoin futures to cliens...

[Pujangga]

I think it's true banks are afraid of cryptocurrency, because cryptocurrency has taken their source of income. many investors are more interested in bitcoin than bank products. they consider bitcoin as a ponzi scheme that gives a big advantage at first joining.
The things banks can do is immediately legalize bitcoin, I'm sure if banks receive bitcoin then banks will get big profits because of the potential of bitcoin globally is very large.

[jlomabao@gmail.com]

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!

Bitcoin has so many possibilities, the banks must have feared that its gonna take over something on their end.

[gtx1060aa]

I am definitely sure bankers are extremely afraid of the rising crypto-currencies because if more and more people starts to use crypto-currencies, bankers would be out of jobs as no one would want to pay the bank on the high telegraphic transfer fees just to transfer some funds to another person.

[gtx1060aa]

The BTC presents a great advantage to the banks, the only thing that the BTC loses and in the question fees and charges that today and very high but the BTC has a huge advantage in the transparency question, much faster to make transactions and now with the coming of the LN it will increase the speed in transactions. The Brazilian central bank has already issued two repudiation notes on the crypto-coins.

[imteaz]

They do indeed fear the cryptocurrency, you will notice lots of bank CEO are against bitcoin and sometimes they make comments against it. Because they know that, People are moving centralized to the decentralized system and they are losing billions of cash. End of the day Crypto will win

[sultanali]

Yes because now people like to keep their saving in cryptocurrency. And they are moving money from their banks to cryptocurrencies and because of that banks are fairing from cryptocurrencies at this time.

[yujli]

I think ordinary people have no reason to worry about Bitcoin. The government is actually concerned about bitcoin, because if bitcoin transactions start to happen in a large number of countries and people use bitcoins instead of their national currencies, the government may face problems and won't get any tax because they cannot control bitcoin. So this is the propaganda that your government is most likely to stop people from using Bitcoin. No government will like the above scenario to happen in their country. They are afraid of bitcoin

[CryPtoEnGanGe]

Of course banks will distribute such awkward information, they do not profitably perform the functions that any bank performs, if most people switch to crypto currency.

[Tohsigohay]

the cryptocurrency is a virtual that is not supported by the regulator while the world's banks are regulated by the regulator, They Just want to protect inflation against the country alone, freedom to trade virtual currency that now has become a boomerang in countries that do not support it, we do not have to panic in that case because we want freedom in our balance sheet.

[Roksodhon]

It makes sense that banks are afraid of bitcoin and cryptocurrencies. But for me, it would be much better if both side will adapt each other to benefit each other.

[yyui]

Banks are not afraid of cryptocurrencies. They just try to keep the national currency safe. The difference is the central bank, which controls monetary policy. If enough people start using crypto currencies, this may become invalid