Why Big Banks are so Nervous About Bitcoin ? Why ?

[Viyamore]

Definitely, banks are threathened to bitcoin and blockchain. That is how profitable bitcoin is that even huge institutions  are afraid to the future it can conquer. THey know that there is a possibility that people may opt to use bitcoin instead of fiat. If that happens, even though they have been into online banking system now, bitcoin phenomenon is still unstopable to grow and be chosen by the people.

[mulukey]

Big banks are so worried about bitcoin because bitcoin's transaction fees are too low. Also bitcoin is used to pay for services quickly and conveniently via the internet. Mostly in developed countries use bitcoin in a common and effective way. That's why big banks worry about bitcoins.

[ferrybitcoin.1996]

Because banks know very much about this. They are afraid it will be unchallenged by bitcoin and eventually they will be replaced. Because bitcoin has started in knowing many people but there are still many who banned from a country whose majority of government in control by the upper class.

Umm.... Logical reason why Bitcoin as Bank's threat because Bitcoin dont need Middle-Man for their Transaction.
I mean, Bitcoin have Blockchain as their Data Center and transaction can done easily and faster. So, bank scare their user will drop

[ayocycled]

Because banks know very much about this. They are afraid it will be unchallenged by bitcoin and eventually they will be replaced. Because bitcoin has started in knowing many people but there are still many who banned from a country whose majority of government in control by the upper class.

Umm.... Logical reason why Bitcoin as Bank's threat because Bitcoin dont need Middle-Man for their Transaction.
I mean, Bitcoin have Blockchain as their Data Center and transaction can done easily and faster. So, bank scare their user will drop

Quite logical, I would say

[sevenbits]

of course they can be understood. Crypto undermines the fundamentals of their financial world and turns everything upside down. Instead of the center and satellites, a decentralized network. The crypto market conceals more dangers for the world's banks than it can bring benefits.

[ov3rflow9x]

You're completely right. Some countries who actually didn't ban bitcoin and other cryptocoins, but never regulted this instead are getting stronger in nearest future in financial statements of usual people

[goku1525]

You're completely right. Some countries who actually didn't ban bitcoin and other cryptocoins, but never regulted this instead are getting stronger in nearest future in financial statements of usual people

As you can saw on the chart history bitcoin regulates higher prices and the forum also has a lot of capabilities to earn good moneys. Big banks are afraid because bitcoin has a chance to overtake fiat sooner .Bitcoin is strong nowadays and the most popular coin worldwide.

[kisscoin]

Of course they will be nervous, it can cause significant damage to their economy!

[Elkafi]

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

off course, The big banks are so nervous about bitcoin because The bitcpin is so popular and its advantage as an electronic currency such as security and fast money circulation, many people like middle investor are investing in bitcoin instead on the bank and in the coming few decades as the popularity of bitcoin arises then they will afraid that many high investors will investing to bitcoin. the big banks should create a new crypto too.

[LigwagGanern]

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

Big banks are so nervous about bitcoin because they know that bitcoin can do better than what they can. The bitcoin was so popular in the world and many people wants to have it to keep it 'til the price of it increase and then earn it. The bitcoin security was so strong unlike in the bank because it is online and the company who hold their bitcoin was so polite. And it is easy to use when you need to cash out or withdraw your money,

[TiffanyLien23]

Well its because bitcoin offers services more than banks can do and also gives higher appreciation for savings and investment. Most of the banks are threaten of the fact that digital currency is the upcoming future of all currency that can be used all over the world and time will come that banks are no longer needed.. They see the development of cryptos and how it was able to influence many investors. Banks are afraid of losing their legacy in the economy because of bitcoin. But as of now, banks are already depend on the government because government doesnt allow that to be happen that banks can be gone away because banks are also helpful to the government because of the big tax that they give to the government that can be used in the economy of their country.

[Freshmen]

Thank you for this article, it is informative and I have learned quite something.
Banks are afraid that cryptocurrency have the posibility to replace fiat to which they heavily rely on - managing fiat is their sole purpose and they would be nothing if it will be to regularized unless they adapt to the system and governments will impose them related to managing it or something.

Whenever an entity feels some kind of threat from another entity, first one becomes afraid of the later one. That is pretty obvious and understandable. Prey fears predator and this is good for its own survival. Banks are well aware of this fact that cryptocurrencies are grabbing more and more fame plus support gradually causing a decrease in their customers. Without customers, no business can survive.

[PalindromemordnilaP]

I believe the very reason why banks are nervous about bitcoin and the digital currencies is because they don't have anymore the intervention in the people's transaction sending money anywhere across the world and people will also keep their assets in digital wallet than in banks.

[avirdoz]

Bitcoin can ultimately make the world banking system unnecessary. Banks system become more and more outdated with the years. I think this is their main concern.

[Freddie Aguiluz]

Big Banks are so nervous about Bitcoin because BTC came about to disintermediate third parties. Banks are definitely unnecessary when making transactions person to person, especially across borders.

 Digital currency can now be used as bank, thats why banks is so nervous about btc. If btc and other altcoin are being used by majority, then banks will not be needed and will be bankrupt.

[zhagedus]

They are much afraid because, Bitcoin is a Bank of yourself and anonymous, so they think that people will be much interested to click to Bitcoin ie Banking with wallet to over sees your transactions without any body monitory it.

[satecream]

i think bank are nervous that because they scared about what bitcoin can do it after all, and they still didn't know how or to manage to control about bitcoin itself and they scare bitcoin will overtake them

[Gandam23]

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 gives convenience to people that banks can't give at all just like queueing. When you use bitcoin you don't need to queue for a long line, wherever you are and whenever you want, you can send some bitcoin or money to someone even she/he is on the other side of the world unlike with banks there are so much process and questioning.

[MrRiuss]

big banks are so nervous about bitcoin because if bitcoin is widely use, their income will suddenly drop, people wont make a transaction through bank anymore, but directly with bitcoin

[geegaw]

Big Banks are so nervous about Bitcoin because BTC came about to disintermediate third parties. Banks are definitely unnecessary when making transactions person to person, especially across borders.

 Digital currency can now be used as bank, thats why banks is so nervous about btc. If btc and other altcoin are being used by majority, then banks will not be needed and will be bankrupt.

But looking at the real situation, we can clearly see that the number of bitcoin users and the number of bank users still have a huge difference, most people still lean toward the bank, bank reputation is still the number one in the minds of so many people. Therefore, I have reason to believe that the bank has nothing to fear bitcoin, it still can not pass and replace the bank, the problem that big banks worry about bitcoin is that they are afraid they will not be able to adapt and work with bitcoin in the future when the technology of bitcoin is too new and they are lacking in technology to respond in time