How do banks feel about crypto

[RussaX]

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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[Xclusive5]

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

[hosseinimr93]

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

[bengems]

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

[yura888]

Now, as a serious correction, I think that a new wave of asset growth should start now

[surfinonmyownwavebaby]

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...

[rudox]

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.

[ZBTCZ]

Banks are threatened with crypto currency. That is why, in my opinion based on what Ive read, they are manipulating the cost of bitcoin.

[zabisux]

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.

[yunuzov]

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.

[talkbitcoin]

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.

[buxlover]

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

[Katalyst]

In general bank are the middleman, and cryptocurrency seeks to eliminate the middleman to drive down costs and less centralization. Banks hate crypto.

[Syroamst]

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.

[byusboy]

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.

[Mahanton]

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.

[Yaneman]

Obviously they are scared of crypto. And since governments are highly involved inthe banking system, they try to stop/regulate cryptos

[Sarah08]

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.

[CoinSpeculator]

they will adapt to this system in the future. they are scaring from money laundering.

[MiXxe]

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.

[Temmy007]

It very obvious banks and government don't like cryptocurrency,  nevertheless they will have  to be creative and find a way to join the train, . They will surely find a way to tame it,  generate taxes and other bullshit from it, because there survival depend on it

[brobbel]

It depends.

They do like them in sense of security (the blockchain technology), which they are already adopting in some ways.
But they absolutely dislike them because they fear the influence of crypto growing.

[AleSergio]

Eventhough that they are adopting blockchain technology in their own system, cryptos is a huge threat for banks and forex.
It starts to absorbe more and more money, that people can invest in banks or trade on forex

[restumaulana]

I think there is also true with this statement, as reported by KompasTekno from The Next Web, Thursday (09/14/2017), exchange rate bitcoin again declined due to comments JP Morgan CEO, Jamie Dimon, earlier this week.
Jamie Dimon, then said that bitcoin is a mess that will soon explode. He even joked that his daughter had bought some bitcoins, and was genius because the digital shrimp exchange rate rose by up to 300 percent this year.
"This (bitcoin) is not a real thing, it will one day die. I do not recommend to immediately collect bitcoin and sell 100,000 US dollars bitcoin before the value down, "he explained when speaking in the event Delivering Alpha Conference.

[minbosen]

It depends.

They do like them in sense of security (the blockchain technology), which they are already adopting in some ways.
But they absolutely dislike them because they fear the influence of crypto growing.

Yes, you are right, some banks like them because they are trying to use them and think it will be great help to their business. but some traditional banks dislike them because they do not want to make changes.

[Bay_Harbour_Butcher]

I think the bank must be very worried about the existence of bitcoin, because if people prefer to invest the money in bitcoin in the appeal in the tube dibank, then the bank can also go bankrupt. but I think in a small country, the bank has not really thought about it, because not many people in small countries use bitcoin

[que91]

It depends.

They do like them in sense of security (the blockchain technology), which they are already adopting in some ways.
But they absolutely dislike them because they fear the influence of crypto growing.

Yes, you are right, some banks like them because they are trying to use them and think it will be great help to their business. but some traditional banks dislike them because they do not want to make changes.

If you want to use altcoins for banks, these coins will be become coins centralization, not are altcoin have nature decentralization like the definition of the cryptocurrency world. Of course, ICO tokens do not affect by this rules

[RussaX]

Yeah it is clear all money that is going into crypto is going out of their control. Over 120 billion usd... Just to send once that kind of amount you can guess how much money banks and governments lose because of their high fees and taxes. But there also comes inability to overview, freeze or take away any money. I don't know how banks will adopt around crypto but they will have to somehow. And if banks want to step in the game creating their own it will be fully centralized, controlled by them and it will be worse than example usd because then each bank will have full control over their currency.
The only worry is that they will implement strict rules, block exchanges try to force taxes into it and similar. They will find a way you can be sure.

[legendbtc]

I think governments and banks are not silent they are finding a solution for all these investments. The main of governments and banks are how can we these transactions be controlled by banks and how can we deduct the taxes from the people.

[Mahanton]

I think governments and banks are not silent they are finding a solution for all these investments. The main of governments and banks are how can we these transactions be controlled by banks and how can we deduct the taxes from the people.

They are not blind and same as you said they are not silent and do already find the ways on how to stop these adoption my by cryptos on which their services is really mainly being affected because people do already engage on cryptocurrencies.They do see bitcoin as an enemy for sure this is why they dont really tend to accept bitcoin because it is a decentralized thing.

[Moneroman88]

Im sure if they can make a profit on it the banks like crypto currencies because thats what they care about, the money

[lobo13hf]

unfortunately many people above are saying bullshit and barely know something about cryptocurrency and banks. there were so many banks that investing and do trading to grow their capital through cryptocurrency.
if anyone say bank don't like bitcoin, it's maybe, but for profit they don't give a shit as long if the thing could generate them profit by holding.

[Damage_Dealer]

More and more banks will get into crypto, I assure you. They are slowly discovering it as a great investment opportunity with high returns.

[RussaX]

Well I guess they will be in the game. They have good power with large amounts of money so they can control prices.
Everybody know that money goes towards rich ones because of large sums and investiments in many projects. They can accept losses while you have to take higher risks with only 1 or few projects with small reward.

[xenomorphe1]

I think they dislike crypto. But they also don't want to miss the opportunity to make a lot of profit. They are investing in Bitcoin and Ethereum, so it is good for the value of Bitcoin and altcoins.
But they don't like if people don't pass by them to buy bitcoin, as they don't receive any money.

[russen]

I think they feel bad about crypto because people are starting to withdraw their savings to invest in cryptoworld.

[patz22]

I think banks hate crytpo since nowadays there's a lot of investors who invest in crypto instead on the bank. We can say that at the bank - your money will be more secured however minimal income (interest etc.) and on the other hand even though in crypto is not so secure, most of the investors will invest in crypto due to lot of money that they can get once the project is successful.

[dunfida]

unfortunately many people above are saying bullshit and barely know something about cryptocurrency and banks. there were so many banks that investing and do trading to grow their capital through cryptocurrency.
if anyone say bank don't like bitcoin, it's maybe, but for profit they don't give a shit as long if the thing could generate them profit by holding.

No one knows actually but there still a possibility on the things that you do said on here that those banks might really engage on cryptos too but on a hidden way for sure knowing that they are regulated and they shouldn't engage on decentralized things.Banks would really jump on things which they can see that they can able to generate profits not on the way on using it but just as simple on making investment too just like what we are doing.

[nareshrohra]

They feel screwed by a person named Satoshi Nakamoto. Their business is at risk if they don't transform themselves and give more freedom to public. Although, some banks are smart and realise they don't need to bring the cryptocurrency down they just need to outsmart other banks

[anelenaniku]

Banks want to destroy cryptos because they understood the danger to their fraud system. It is under attack the crypto world now. They try to manipulate prices and people to leave the blockchain revolution.   

[crazyjack]

I thinks banks are very well aware of appearance of blockchain technology and disturbance its causing in their business.

I think they will adapt and evolve and implement their own solution and finally continue with their changed approach.

They are just too much important for global economy.

[Dart18]

They control it and then what? Their greediness will always take over and they will just dirty the way bitcoin should be.
People are embracing it because of tax free. Why? Where are the taxes of the people going? Our own government authorities just taking it for themselves. People got weary of that fact and just want to be independent.

[richardsNY]

I think they will adapt and evolve and implement their own solution and finally continue with their changed approach.

They are just too much important for global economy.

Financial institutions are already into the first initial stage when it comes to implementing their own centralized version of the blockchain. It has been pointed out in various articles throughout the last years that they have been pumping millions into research and development. Ultimately, if they end up fully incorporating the blockchain into their systems, it should greatly improve our overall banking experience. I won't be surprised to see them settle payments from one bank in the world to the other instantly -- it's beyond insane that we in 2017 still don't enjoy this in my eyes normal feature.

[RussaX]

I think that bank will have to adapt to it and make some changes. Looking at tbe bank right now. They are real illegal moneymakers which are legal by government and good supported because they have control. They are slow, with high fees and cruel. Only thing they care about is how to rip you off.
Crypto can disturb tat a little bit so they will have to offer better user experience. They want people to hold money there. But sure thing is that they will survive and they won't struggle. They could eventualy accept and use crypto so they can act as exchanges and much more.

[ployfit]

I think they will adapt and evolve and implement their own solution and finally continue with their changed approach.

They are just too much important for global economy.

Financial institutions are already into the first initial stage when it comes to implementing their own centralized version of the blockchain. It has been pointed out in various articles throughout the last years that they have been pumping millions into research and development. Ultimately, if they end up fully incorporating the blockchain into their systems, it should greatly improve our overall banking experience. I won't be surprised to see them settle payments from one bank in the world to the other instantly -- it's beyond insane that we in 2017 still don't enjoy this in my eyes normal feature.

That's the concerning thing. Blockchain should be decentralized and if one centralize the blockchain or implement it as centralized versions, this is against the rules od this democratic environment.

[Zadicar]

I thinks banks are very well aware of appearance of blockchain technology and disturbance its causing in their business.

I think they will adapt and evolve and implement their own solution and finally continue with their changed approach.

They are just too much important for global economy.

They are really aware on bitcoin existence and as you said bitcoin does give disturbance on their business on which some people do already make use on bitcoin rather than on banks.This is why they would really make their own innovation when it comes on new way payment system.They will surely adopt blockchain technology on their planned changes in future because they can able to see the competition.

[keziakusayang]

Bank never support crypto, it is hurt them, money flew from fiat to crypto, what do you think if you are the one of bank owner ? money flew from your pocket to some one pocket ? howver bank system is the most corrupted system in this world.

i just see the movie about 2008 recesion in america, movie tittle is " The Big Short " and from there i hate bankers. the biggest lie system.

[coingrow]

They will have to adapt with the new technology so that they are not left behind. To be honest, the blockchain technology that bitcoin invented is much more powerful than bitcoin itself. Eventually banks will come up with their own crypto currencies and try to kill or suppress bitcoin.

[PenStand]

The cryptocurrency can compete with the banks, so I think most of the banks should not like crypto.

[viber1234]

Crypto currency can compete fair and square with the banks thats why they do not like it.

How do you handle the fact that some banks are refusing to send or receive money from crypto platforms?

[Idrisu]

Bankers, especially the central bank hate bitcoin and blockchain technology because: bitcoin is decentralized, it doesn't discriminate and it is acceptable every were. Unlike fiat that is been issued by the authorized federal government agency in every country. Bankers will forever fight bitcoin and others cryptocurrency and I will advise us the cryptocurrency enthusiast to keep promoting it in the light of freedom it has come to create.

[chutchmcgillicutty]

Banks are scared shitless of the decentralized blockchain. It makes them obsolete.

There is going to be a full-on war to prevent the blockchain that we all want and support from taking over. They are going to work with governments to co-opt blockchain technology while still maintaining power. It's going to be interesting to watch the next 5-10 years.

I personally don't think they will be able to stop blockchain technology from upending the global capitalist status quo

 

[moataz_ansary]

Banks and governments hate cryptocurrency
So any thing about banks use cryptocurrency
I see it is a scam

[Direwolve735]

Banks are cautious about it because of volatility and lack of legislative base. All this prevents them from introducing crypto for circulation and exchange. However the adoption of crypto-currency by banks can give them the necessary legitimacy. The interest of ordinary users of the network to digital money will increase, this will help to take crypto seriously and use them to pay for goods and services as a stand-alone currency.