Why Big Banks are so Nervous About Bitcoin ? Why ?

[nagatraju]

surely there is a future for bitcoins, but it is unlikely that banks will be able to disappear...the economy in the world should completely change for this...it is impossible in my opinion ... there will always be those who need banks, and most likely there will be quite a lot of them

[1714823501]

1714823501

[innocent93]

If we put the major Banks face to face with Bitcoin, i think that the bank would have that feeling of moving sands. Cryptocurrency is a strong opponent for them and the contenand becomes more and more serious so they have all the reasons in the world to be afraid of the ascension of bitcoin.

[iSkyCastle]

Because the paper money is being conerting into virtual currency. People prefer to buy and hold bitcoins and also for shopping purposes,no one wants that someone should know about his wealth,if its in bitcoin so its only you who knows howmuch momey you got. People want bitcoins because its price is damn volatile,chances of profit in bitcoin is more then in just keeping money in banks.

Yes true bro.If you keep your investment in bank for a year means,you will get only 4-5 % of Money you inverse.That also in private banks.But in BTC,you will get n th % of the invested money.By seeing this ,many start to inverse in bitcoin rather of saving in Bank.So the bank get fear of what will happen to them in future,by seeing the growth of BTC.

I'm also agree that there is a big possibility in the future that the bank become useless in some people because they are become attracted in bitcoin on which they can earn a good profit in a year than investing it into the banks.

I hope they become useless or at least try to give better services in the interest of normal people and not getting rich with huge interests on the back of the small.
For example I have a mortgage for the house and they get more than 15k in profits and for what? For giving me a virtual number they generate in a PC? Mah

They gonna jump into Bitcoin sooner or later, and when those financial institutions start to join the market, BTC gonna skyrocket once more.

[Lorna t]

 :)Because bitcoin it's big!!!
So often large banks are really nervous about bitcoin because maybe bitcoin wages all over the world and its not enough banks can immediately give it to them, if every day they pay of high value, bitcoin is big enough to be. It banks even though they are the largest bank in the world if this the policy of bitcoin they are really nervous if they are too short....
It's just my opinion....

[terrenceschroeder]

In someways, crypto currency will be a threaten to real currency, and bank is holding the real currency, they are afraid of losing their currency's value. So maybe, bankers are looking crypto currency as a threaten to them.

[Ilegendph]

The news in Singapore in example, there is a bank in Singapore that is nearly closing due to lack of depositors. Many of them transfer their money to bitcoin because they believe that it is more profitable than the bank's interest.

If there is no depositor, the bank won't have enough money to lend with and thus, making their income small that may lead to bankruptcy.

[Lolang]

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-bitcoin

Bitcoin is a fast rising crypto currency or virtual currency in this generation. Because of its undenying fast rising value many people are happily engaged and using this currency. Bitcoin gained the trust of people because of its unexpected high value that is continuously rising. Because of this, banking system are realy nervous, since people are trusting crypto currency the engaged more in virtual banking than the old style banking. But since the bitcoin value is high they can't blame the people who loves to use virtual currency nowadays.

[BenjaminFranklingwould]

It is all about defending the profits. Blockchain can really change many our institutions. Banks loosing some of its clients because cryptocurrecies faster, and cheaper. It is not easy for some people to memorize thier private key but the wallets already useful. You can send money to the people all around the world without any problem and privately. Banks don't do that.

[Capt00]

It is all about defending the profits. Blockchain can really change many our institutions. Banks loosing some of its clients because cryptocurrecies faster, and cheaper. It is not easy for some people to memorize thier private key but the wallets already useful. You can send money to the people all around the world without any problem and privately. Banks don't do that.

Losing the numbers of client's can be a big factor of losing it's profit.
Because banks are one of the institution that are dependable to the community and the market trend. Without us, totally banks would never survived.

[0t3p0t]

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-bitcoin

I think what make banks to be afraid is that they don't want people a massive dump on fiat money in exchange of Bitcoins because what I have observed people keep on investing Bitcoins day by day. Hundreds of thousands of newcomers are buying Bitcoinsbecause they believe that it will change their fortune one day. The fiat money supply is too high while demand is decreasing so maybe that is one of their concerns about Bitcoin domination in the  markets. Here in my country, actually a third world country banks are not afraid instead they accepted Bitcoin and see it as another level of investment and has potential to grow in the future. They just  implemented regulations on our local Bitcoin exchanges to prevent any illegal activities.

[innocent93]

Even for banks crypto coins, at this hour, gives them perspective of future incomes so they have to change their marketing strategies regarding crypto.

[dulce dd121990]

Big banks may got nervous in the presence of bitcoin because, bitcoin offers a great opportunity of investments. It has a very nice features that bank never has. It's currency also has a great value that people may be eager to invest in and not in the bank. For that reason, many bank investors may transfer to bitcoin and bank may lost it's big customers/investors, and that maybe resulting to bankruptcy. 

[appleffi]

I think this is cause by the amount of profit the bitcoin can give. Bitcoin value is fluctuating uncontrollably whilst big banks offered a little than what bitcoin can offer which makes big banks feel threatened for they are the ones that should be accountable to all the people.

[waynechong1995]

I think they are not actually nervous, but to do what they suppose to do by releasing some public 'awarness' about the risks of crypyocurrency which they aren't too into them technically. Well seems things had changed now, instead of the traditional WARNING on crash or whatsoever, I believe some of the investment team had secretly set up a crypyocurrency research team to profit like how Forex does. There is no reason to be nervous when governments are backing them, any global decision on cryptocurrency would bring significant impact. Guess the best we could do is bring up faster transactions and better competence against fiats.

[JTASSOCIATES]

I don't believe that big banks are so nervous about bitcoin. Bitcoin users know very well that what is bitcoin mean for them and how profitable returns bitcoin is giving to us. There is chance of banks can plan for accepting cryptocurrencies or they change their system of handling transactions and facility provided to the customer which they charging also reflect. But they are not bother bitcoin as the market capital of bitcoin is not that much big to fear by banks.

[mx667]

I don't believe that big banks are so nervous about bitcoin. Bitcoin users know very well that what is bitcoin mean for them and how profitable returns bitcoin is giving to us. There is chance of banks can plan for accepting cryptocurrencies or they change their system of handling transactions and facility provided to the customer which they charging also reflect. But they are not bother bitcoin as the market capital of bitcoin is not that much big to fear by banks.

I think banks will be nervous about Bitcoin because Bitcoin is different from other currencies. If the other currency is controlled by the bank and managed by the state, Bitcoin remains not controlled by anyone and no country manages it. That means, the community is free and unfettered by the bank.

If we keep in the bank, we have to pay the monthly discount and we should always save. If we do not save, our bank account can be closed or blocked. Unlike the Bitcoin that is not limited by anything. In addition, Bitcoin can also be used as a very easy transaction tool just by using a smartphone. No credit card or debt required.

[Yamifoud]

I think this is cause by the amount of profit the bitcoin can give. Bitcoin value is fluctuating uncontrollably whilst big banks offered a little than what bitcoin can offer which makes big banks feel threatened for they are the ones that should be accountable to all the people.

Gaining profit is always in the mind of investors. Having a decrease of clients, is also a decrease of profit. This is could be a main concern of banks owners, as they are worried of having a big loss in the coming days.
But for me, isn't big enough to worry at all because even though bitcoin was fully establish still more people would be needing banks. And it be a time also that banks will considering of accepting bitcoin.

[ausbit]

surely there is a future for bitcoins, but it is unlikely that banks will be able to disappear...the economy in the world should completely change for this...it is impossible in my opinion ... there will always be those who need banks, and most likely there will be quite a lot of them

With the development of bitcoins the payment process is becoming easy day by day.

As bitcoin doesn’t require any bank for it so the importance of banks is decreasing slowly and gradually that's why they are a bit worried about their future. Bitcoin doesn’t involve any third person i.e bank in sending money from one person to another, which also give it more protection and make us to get rid of banks

[lady-odyvan]

Because there is no need in banks if bitcoin will work all around the world. That's too scary for banks and governments. They cannot control it.

[Ronaldcoin2017]

Because there is no need in banks if bitcoin will work all around the world. That's too scary for banks and governments. They cannot control it.

yes i agree  on that because as what we all have seened bitcoin is really better than banking.we really gain a huge return in bitcoin while on banking we only make the owner of the bank rich because they make our money as there capital and they give  as  a verry small return.i believe bitcoin really is good than banking.i believe  in the capacity of the bitcoin to continue grow on the next generation because it really helps.