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Author Topic: How do banks feel about crypto  (Read 841 times)
RussaX
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September 15, 2017, 09:13:59 AM
 #1

What do you guys expect for crypto future? It is clear that crypto is growing and won't stop any time soon as it gets more recognised and user friendly. Governments and banks want to have control over the money as they can control prices, taxes, activity, take advantages and a lot more. Here comes the crypto with baby steps starts to real recognition as it has grown quite big in the recent time.
Now you have China blocking ICO and jumping on bitcoin exchanges, CEO of JPMorgan making comments, here is US with IRS and they also feel left out. It is clear that they are losing side as they are being left out of taxes, feed and control. There was many statements that crypto technology should be government crontrolled (actually centralized) because of "scam".
Ok in one hand there is bunch of ICO scam coins without any technology or idea but just making owners rich. It is true that some investors lose to make others rich but then again that is natural in any trading. But let's be serious no government or businessman give a shit about who is getting scammed because they look for themselves. So looking on it It is clear that banks, giants and some governments are worried about it.
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September 15, 2017, 08:27:01 PM
 #2

Sincerely banks do not like crypto, they see crypto as their enemy in modern world

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September 15, 2017, 08:31:17 PM
 #3

I don't think banks and governments like cryptocurrencies. They want to control all the transactions. With existence of cryptocurrencies banks lose their profits.

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September 16, 2017, 06:29:59 AM
 #4

Crypto is bank's Worst nightmare, who will think of saving with bank again when you can safe ur money in a good crypto project and earn huge rewards far better than the pennies banks give

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September 16, 2017, 06:35:32 AM
 #5

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September 16, 2017, 08:02:43 AM
 #6

I think they are threatened by everything bitcoin is. As a result you hear a lot of FUD coming from that direction. But I think it is clear what is going to happen in the end. If you cant

beat em then...

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September 16, 2017, 08:20:32 AM
 #7

The banks is now being challenged by the advancement of crypto which look like the way for the future. They have to buy into the Blockchain tech to remain relevant.

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September 16, 2017, 08:49:56 AM
 #8

Banks are threatened with crypto currency. That is why, in my opinion based on what Ive read, they are manipulating the cost of bitcoin.
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September 16, 2017, 08:53:06 AM
 #9

I am pretty sure that they hate crypto into guts. But they can't really deny blockchain technology. So its going to pretty much common that some banks will release their own altcoins are gonna use coins like ripple.

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September 16, 2017, 09:29:12 AM
 #10

Well surely they don't like the idea of money flowing without their control. They are probably seeing crypto as enemy but i'm sure some smart Banks will see the potential of crypto and will try to side with it.


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September 16, 2017, 09:54:17 AM
 #11

on one hand cryptocurrencies have the potential of replacing banks. and put them out of business so it is understandable if banks may be a little uneasy about them.

on the other other, cryptocurrencies in general which means altcoins are a joke. they are not even remotely close to that goal so banks have nothing to fear. as far as bitcoin goes, it also is far behind that adoption despite all adoption it had so far!
also bitcoin being adopted or any other future altcoins, is not the end of banks they will still exist with fiat and they can even add crypto options to their services and continue being alive that way.














 

 

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September 16, 2017, 12:05:09 PM
 #12

I don't think banks will be thinking about the bitcoin or any altcoin that's present on the earth. Why would they even care about it if they have well regulated banking system and financial institutions. It doesn't affect the fiat system at all, because in the end every coin has to be traded in the form of fiat. So practically speaking banks will get their money back in the end. It's completely circulating system

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September 16, 2017, 12:15:32 PM
 #13

In general bank are the middleman, and cryptocurrency seeks to eliminate the middleman to drive down costs and less centralization. Banks hate crypto.
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September 16, 2017, 12:24:49 PM
 #14

The chief of one Russian bank have said that they would be have to find new way or they would be closed because of the growing popularity of crypto.

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September 16, 2017, 12:35:15 PM
 #15

What do you guys expect for crypto future? It is clear that crypto is growing and won't stop any time soon as it gets more recognised and user friendly. Governments and banks want to have control over the money as they can control prices, taxes, activity, take advantages and a lot more. Here comes the crypto with baby steps starts to real recognition as it has grown quite big in the recent time.
Now you have China blocking ICO and jumping on bitcoin exchanges, CEO of JPMorgan making comments, here is US with IRS and they also feel left out. It is clear that they are losing side as they are being left out of taxes, feed and control. There was many statements that crypto technology should be government crontrolled (actually centralized) because of "scam".
Ok in one hand there is bunch of ICO scam coins without any technology or idea but just making owners rich. It is true that some investors lose to make others rich but then again that is natural in any trading. But let's be serious no government or businessman give a shit about who is getting scammed because they look for themselves. So looking on it It is clear that banks, giants and some governments are worried about it.

How does oil companies feel about tesla? I would say the same way. They're scared.
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September 16, 2017, 12:38:51 PM
 #16

What do you guys expect for crypto future? It is clear that crypto is growing and won't stop any time soon as it gets more recognised and user friendly. Governments and banks want to have control over the money as they can control prices, taxes, activity, take advantages and a lot more. Here comes the crypto with baby steps starts to real recognition as it has grown quite big in the recent time.
Now you have China blocking ICO and jumping on bitcoin exchanges, CEO of JPMorgan making comments, here is US with IRS and they also feel left out. It is clear that they are losing side as they are being left out of taxes, feed and control. There was many statements that crypto technology should be government crontrolled (actually centralized) because of "scam".
Ok in one hand there is bunch of ICO scam coins without any technology or idea but just making owners rich. It is true that some investors lose to make others rich but then again that is natural in any trading. But let's be serious no government or businessman give a shit about who is getting scammed because they look for themselves. So looking on it It is clear that banks, giants and some governments are worried about it.
Just on commonsense.Bank and government wouldnt really like Bitcoin for sure they dont like a decentralized thing which this thing would really acts up as an enemy when it comes into finances and on handling transactions.If people would able to find out bitcoins existence and into its usage for sure people will jump out and used the new way payment system.

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September 16, 2017, 12:52:05 PM
 #17

Obviously they are scared of crypto. And since governments are highly involved inthe banking system, they try to stop/regulate cryptos
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September 16, 2017, 01:40:25 PM
 #18

I think banks are scared of what crypto currencies can do, because they think that people are passing money from person to person thats why people will not use banks instead they pass or store their moneys to their wallets. And thats quite difficult to banks that people trusting their service were lessen and decrease.
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September 16, 2017, 01:46:57 PM
 #19

they will adapt to this system in the future. they are scaring from money laundering.
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September 16, 2017, 01:47:17 PM
 #20

What do you guys expect for crypto future? It is clear that crypto is growing and won't stop any time soon as it gets more recognised and user friendly. Governments and banks want to have control over the money as they can control prices, taxes, activity, take advantages and a lot more. Here comes the crypto with baby steps starts to real recognition as it has grown quite big in the recent time.
Now you have China blocking ICO and jumping on bitcoin exchanges, CEO of JPMorgan making comments, here is US with IRS and they also feel left out. It is clear that they are losing side as they are being left out of taxes, feed and control. There was many statements that crypto technology should be government crontrolled (actually centralized) because of "scam".
Ok in one hand there is bunch of ICO scam coins without any technology or idea but just making owners rich. It is true that some investors lose to make others rich but then again that is natural in any trading. But let's be serious no government or businessman give a shit about who is getting scammed because they look for themselves. So looking on it It is clear that banks, giants and some governments are worried about it.
Its a definite word that banks don't want crypto but i am also thinking for that because in the future crypto will be almost use by many people so the taxes and the control of tge government in fiat money would be also lessen. I am thinking that they are aware on this and they will make a move to get advantage with the bitcoin or crypto users.

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