btccashacc
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October 23, 2017, 11:28:26 PM |
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I'm not surprised that they are so nervous about bitcoin, bitcoin is such a competitor for them, people nowadays are smart to invest in bitcoin rather than investing their money in the bank, on the other side there are so many advantages that bitcoin gives than bank, but we can't deny that with the power of the government Bank can beat bitcoin as we can see in some countries bitcoin is being banned.
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a4techer
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October 23, 2017, 11:50:27 PM |
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It just because of popularity of bitcoin so that they afraid or worried about the bitcoin and also we know if every country know about bitcoin so many bank or any big banks are absolutely nervous, like us we don't save our money in the banks we are going to invest in any coins just like bitcoin just because of income and the fluctuation of cryptocurrency or stocks that possible our investment was going to increase not like the banks.
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bitcoinbox
Sr. Member
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So far so good
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October 24, 2017, 12:13:20 AM |
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Bankers hate to loose control. And luckily they do not control the btc. At the moment, they are watching btc getting more and more popular, even if we can't talk about massive adoption yet. Banks are making part of their money with transactions. Everytime someone transfer a btc, they don't get a single cent!
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Svenzyr
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October 24, 2017, 12:26:08 AM |
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The banks didn't care in the beginning, then ended up understanding they are going to get replaced since nobody is willing to use a middleman/3rd party to transfer money. Why would you do that if you have the oppertunity to do it directly without anyones help ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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aardvark15
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October 24, 2017, 12:28:38 AM |
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Big banks are scared of bitcoin and cryptocurrency in general because they fully know that there is a strong future with virtual money and they don't want another competitor, they're already fighting within themselves.
Banks make money by using customer deposits and charging borrowers for loans for cars and houses. Banks need our money to make money. They also offer customers credit cards that they make profits on in interest and fees. If people start storing their money in Bitcoin addresses then banks run out of money to loan out. As we can see, Bitcoin has potential to make profits for investors. We can store our money as Bitcoins replacing savings accounts and we can pay for things with Bitcoins replacing credit cards.
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megynacuna
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October 24, 2017, 12:42:40 AM |
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I think the banks will obviously panic for one reason and that is bitcoin will render them useless if it is allowed to operate globally. I will suggest they go for the blockchain technology like others are doing and study it to see how best they can implement them with their fiats
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coin_1122
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October 24, 2017, 01:13:15 AM |
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Bankers hate to loose control. And luckily they do not control the btc. At the moment, they are watching btc getting more and more popular, even if we can't talk about massive adoption yet. Banks are making part of their money with transactions. Everytime someone transfer a btc, they don't get a single cent!
Many banks worried they are making any transaction fees on Bitcoin transactions, even though countries not adopting Bitcoin but the price of Bitcoin is not reducing and making fortunes with the price that's why banks are nervous about Bitcoin.
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szpalata
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October 24, 2017, 01:24:38 AM |
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Bankers hate to loose control. And luckily they do not control the btc. At the moment, they are watching btc getting more and more popular, even if we can't talk about massive adoption yet. Banks are making part of their money with transactions. Everytime someone transfer a btc, they don't get a single cent!
Many banks worried they are making any transaction fees on Bitcoin transactions, even though countries not adopting Bitcoin but the price of Bitcoin is not reducing and making fortunes with the price that's why banks are nervous about Bitcoin. I think the banks are afraid of competition and they are likely going to be overthrown by the more futuristic Bitcoin and cryptocurrencies and so they will sabotage it at the very least chance.
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ihsanskanzaone
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October 24, 2017, 01:27:47 AM Last edit: October 24, 2017, 03:05:04 AM by ihsanskanzaone |
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because we can see in terms of administration bitcoin is perfect for anyone and its management is very easy and can save cost and time. we can also see in terms of bitcoin investment is very good rather than save in the bank because the rise in bitcoin prices is very high than the currency in the issued by the bank. bitcoin also in terms of transactions can be done anywhere can even send to different countries with transaction costs similar to the domestic so that makes big banks so nervous.
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Sled
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October 24, 2017, 03:13:38 AM |
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We all know that the banks are storage for our money and a lot of people trust banks because they know that they can give assurance for securing our money but when the bitcoin comes and if the people that uses banks will now bitcoin then they will realize that there is a better option for having a safe haven for their money and after that, they might transfer their money to bitcoin and uses it as a savings or investment which will give them big profits so that is why the big banks or even the small banks are so nervous about the revolution of bitcoin.
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Yadstiker
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October 24, 2017, 03:42:39 AM |
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I don't if my assumption was correct or not, but as i am wondering why they are worried or scared about bitcoin is that, they heard so many rumors that their service will no longer be in need or needed, because bitcoin was already there to provide the needs better than they can, but i don't think its true, we all knew that mosr of us here in order to cash out we need banks to convert it to cash, and that was also one thing they are being worried of, that cash will bw extinct.
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geopolisch
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October 24, 2017, 12:22:56 PM |
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Banks are nervous because bitcoin is in another dimension. Bitcoin now offers more favorable conditions to attract capital. Banks have nothing to do with it can't they understand that soon they will begin to experience a lack of deposits. To attract bitcoins they can't because they don't know how to apply them in the real economy.
banks also taking advantage of this mate as they are the recipient of the earnings some of them are just pretending that they are affected but they are not as bitcoin holders will also exchange this to fiat and the best option for me to convert my btc is to send it my bank account. Banks are nervous just because people are rushing toward this mighty coin because it acts in both way currency as well as investment the people wo put their money in banks and banks use their money and then return a small profit to them where a bitcoin gives maximum and it keeps in increasing its profit margin and people are using bitcoin instead of banks and this the alarming condition for the bankers.
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a4techer
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October 24, 2017, 12:31:34 PM |
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Bankers hate to loose control. And luckily they do not control the btc. At the moment, they are watching btc getting more and more popular, even if we can't talk about massive adoption yet. Banks are making part of their money with transactions. Everytime someone transfer a btc, they don't get a single cent!
Many banks worried they are making any transaction fees on Bitcoin transactions, even though countries not adopting Bitcoin but the price of Bitcoin is not reducing and making fortunes with the price that's why banks are nervous about Bitcoin. I think the banks are afraid of competition and they are likely going to be overthrown by the more futuristic Bitcoin and cryptocurrencies and so they will sabotage it at the very least chance. They are not only afriad they also think if bitcoin expose or all country was legalize this altcoins we know that bitcoin it is just like a bank or we called also intangible bank and continuously increasing the currency so that many of us want to invest in bitcoin and not in bank why? Because we know if you invest in bank many several years before you earn but in bitcoin daily, weekly, monthly you can earn so that many bank dis agree in the legalization of bitcoin.
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Xanxus024
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October 24, 2017, 12:44:51 PM |
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Because bank has not to get paid or no interest fee in every transactions, in other word bank is not a middle man every time use bitcoin. Bitcoin are more convinient than bank, bitcoin has decentralize it means no central authority.
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ask
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October 24, 2017, 12:52:43 PM |
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they always want to control everything in economy. But they cannot be an authority on bitcoin. thats the biggest problem. for example if Banks cannot control transactions and this is the biggest income for banks.
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kingtoixo
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October 24, 2017, 12:53:05 PM |
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Because they are losing the control they have in the economic markets. Also, most of them are now interested in the blockchain technologies and in different cryptocurrencies because are seeing where the trend is going and they don't want to be out of this.
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tyronecoinbit
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October 24, 2017, 12:57:19 PM |
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Bankers hate to loose control. And luckily they do not control the btc. At the moment, they are watching btc getting more and more popular, even if we can't talk about massive adoption yet. Banks are making part of their money with transactions. Everytime someone transfer a btc, they don't get a single cent!
Many banks worried they are making any transaction fees on Bitcoin transactions, even though countries not adopting Bitcoin but the price of Bitcoin is not reducing and making fortunes with the price that's why banks are nervous about Bitcoin. I think the banks are afraid of competition and they are likely going to be overthrown by the more futuristic Bitcoin and cryptocurrencies and so they will sabotage it at the very least chance. They are not only afriad they also think if bitcoin expose or all country was legalize this altcoins we know that bitcoin it is just like a bank or we called also intangible bank and continuously increasing the currency so that many of us want to invest in bitcoin and not in bank why? Because we know if you invest in bank many several years before you earn but in bitcoin daily, weekly, monthly you can earn so that many bank dis agree in the legalization of bitcoin. Yeah! You're totally right! When you invest in banks, you only get small amount of profit for how many years. The only one who benefits your money is the bank. In bitcoin, you can have huge amount of profit within a year. The banks are now afraid of losing half of their clients because of bitcoin.
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rhomzkie26
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October 24, 2017, 05:20:33 PM |
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There was a time where Bitcoin was not even on the radar, it was a novel idea that was primarily used by thieves and drug dealers on the dark web. Nothing to be afraid of in terms of holding a monopoly on money. However, that same little upstart is now disrupting the system of things; from Bitcoin and other cryptocurrencies, ICOs and the ever impressive Blockchain technology. This is now a legitimate threat on traditional banks. Banks have existed unchallenged for hundreds of years, and that is the key issue here; Bitcoin, backed by a solid platform such as Blockchain technology, is a ghost that is incredibly hard to control due to its decentralized nature. The power and control of money is being ripped away from traditional institutions, which can also be seen on Wall Street. Some of these traditional investors are siding with what could be the future, while others vehemently denounce it. Individuals can now enter into direct peer-to-peer trusted exchanges with strangers. They no longer need a central institution to vouch for the other party. Just like the fax machine, the library, even metered taxis, new technologies have come along and made others obsolete. Banks are now in the sights of Bitcoin and are in their death throws, as they lash out with the power of states behind them. However, there’s no stopping progress, and even with state-backed regulations trying to wrestle the money of the people under control, banks have every reason to be nervous. Full news https://www.cointelegraph.com/news/why-big-banks-are-so-nervous-about-bitcoinThey might get afraid and nervous because in the first place Bank was centralized and Bitcoin was being categorize in decentralization which means it is unregulated in business industry. That's why some of the banks in the whole world are now adapting the concept of bitcoin.
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YTBitcoin
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October 26, 2017, 11:25:09 PM |
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I think the banks will obviously panic for one reason and that is bitcoin will render them useless if it is allowed to operate globally. I will suggest they go for the blockchain technology like others are doing and study it to see how best they can implement them with their fiats
Banks do fear bitcoin because bitcoin is continually increasing in usage around the globe. People are no more preferring banks for storing their money rather they’re buying bitcoin and having their money in the form of bitcoin because it is not only a method of saving money but also the easiest way of increasing your capital. Bitcoin along with other digital currencies is soon going to perish away banks.
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Cjbrinces11
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November 01, 2017, 05:30:03 PM |
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There was a time where Bitcoin was not even on the radar, it was a novel idea that was primarily used by thieves and drug dealers on the dark web. Nothing to be afraid of in terms of holding a monopoly on money. However, that same little upstart is now disrupting the system of things; from Bitcoin and other cryptocurrencies, ICOs and the ever impressive Blockchain technology. This is now a legitimate threat on traditional banks. Banks have existed unchallenged for hundreds of years, and that is the key issue here; Bitcoin, backed by a solid platform such as Blockchain technology, is a ghost that is incredibly hard to control due to its decentralized nature. The power and control of money is being ripped away from traditional institutions, which can also be seen on Wall Street. Some of these traditional investors are siding with what could be the future, while others vehemently denounce it. Individuals can now enter into direct peer-to-peer trusted exchanges with strangers. They no longer need a central institution to vouch for the other party. Just like the fax machine, the library, even metered taxis, new technologies have come along and made others obsolete. Banks are now in the sights of Bitcoin and are in their death throws, as they lash out with the power of states behind them. However, there’s no stopping progress, and even with state-backed regulations trying to wrestle the money of the people under control, banks have every reason to be nervous. Full news https://www.cointelegraph.com/news/why-big-banks-are-so-nervous-about-bitcoinSimple as that. We are easily get transaction in bitcoin with a good interest and profit unlike banks it takes time. Bitcoin is flexible too in depositing and withdrawing. Then bitcoin is volatile it could increase nor decrease your money depends on demand and supply. Yes it is risky but it could be help.
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