Why Big Banks are so Nervous About Bitcoin ? Why ?

[bizarro]

It is obvious in my opinion, becouse government and big old banks are affraid to loose their global influence at people

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[Master Third]

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

Yeah right. The very reason, because crypto currency still unsafe when it comes for money security, what I mean is the ammount of your money when you put it in crypto still no assurance that the profit will continue that is why practical speaking majority will choose bank to invest their money although there is no high big profit. Second is the advance technology of bitcoin that cause fear to the bank.

[J Sykes]

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 you made a perfect case for why banks are scared to be honest. We should also remember "Satoshi Nakamoto" referenced the 2008 bailout of the banks in the famous genesis block so right from the off there is a theme in crypto of being outside of the traditional banking institution. Some say this was just a reference to the date but I don't buy that spin for one second. To me it was a clear indication that this was supposed to act outside and independent of the broken banking system

[Hovhannes]

Because they are afraid, this is a direct threat to their existence. They believe that decentralization is a threat to them, because investors will invest more money in bitkoyn, there will be an outflow of capital.

[swapblocks]

yep it's not just BTC, but the blockchain tech is allowing for financial markets to govern themselves more efficiently and operate with increased transparency without relying on trading desks to operate. Not to mention, if crypto tech integrates with POS systems and NFC tech, no one will need deposit accounts. Which would mean the whole system would get turned upside down from there.

[Epimetheus]

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.

Big banks fear Bitcoin because of its popularity and craziness among people which is directly affect banks progress and profit. Bitcoin provide its user an high-level privacy and their is no need to give full information of sender and receiver in order to complete a transaction through Bitcoin. This thing attract more people to use this and this thing affect affect banks in different way. Bitcoin provide its user an uninterrupted money transaction facility in which no third party involved and banks doesn't provide such facility to their user. Banks are taking long processing time and also change high transaction fee where as bitcoin doing exactly opposite of this. These above advantage of Bitcoin put negative affect on banks 

[shield132]

To all of you who thinks that banks are afraid of bitcoin and they fear of it: Does enemy tell you it's weak point? Will enemy give a weapon which can destroy or affect itself? No so what banks talk isn't 100% truth and also almost 99% of economists have never/ever told correct prognose on bitcoin's price.
Just tell me, why do some bank offers bitcoin exchange service or partners with bitcoin exchangers if they hate this coin and look it as potential danger?

[Evgenius1283]

It is clear why, because past the big banks begin to swim those very high interest for transfers. which they constantly had and zhidi expense of them, and now boutique is beginning to overlap and this only the beginning of....Nervous, as profits began to decline...

[network.decentralizer]

Because they think that Bitcoin can replace them and they will lose money, people's trust and of course the control. Banks shouldn't be afraid of Cryptos and Blockchain. Technology is growing so fast and banks shouldn't close the door to it. One day they will understand their mistakes and they will learn from them.

[Acoje]

Many investor are turning away and making big withdrawal on theirs banks to invest on ICOs or Bitcoin, of course they'll panic somewhat since fund circulation on bank will be affected.   

[inashed]

Not only big banks aren't nervous, but digital currency will be used at the fiat currency worldwide.

[CoinFlipKing]

One reason is they will lose their competitive advantage market demand with regard to capital markets. There's a few projects out there trying to work on this use case. Polymath is probably the most well-known rn, but I like what swapblocks is trying to do. Here's their ANN post:

https://bitcointalk.org/index.php?topic=3456464.0

[omfg.xekcep]

Maybe they want to take this business under their control but they woke up too late. Giant banks are strong but  they are not able to to everything they want. Just remember lehman brothers.

[xeqoRameshAxueamExaqana]

bank's is never nervous about bitcoin
because bank not competitior about bank bussiness, if say bank nervous i think only assumption

[Nissan-GTR]

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.

Thats true and traditional banks were afraif for the existence of this blockchain platform due to the fact that this is decentralized ,usually people nowadays were born with lesser patience than before and I think it also affect the fact that we was encouraged to used and be inbolve in Bitcoin than in those banks that offers indeed a huge amount of investment but truly low price of interest. They didn't see it coming, that a simple currency before was the main way that numerous people nowadays earn better.

[missmaria]

I think that it's kinda obvious, they are used to control finances, but actually they don't control crypto sphere.

[MiukoOk]

Because they are afraid of losing a large number of customers, at present some investors have withdrawn capital from banks to invest in the CRYPTO market. and some businesses they have issued ICO to raise funds without having to borrow from the bank. So the bank is currently suffering from the loss of a huge number of customers.

[Bonsaiav]

They're nervous because bitcoin's a tough competitor for big banks, small banks, and central banks. For most people including myself, the presence of bitcoin has educated most people to think smarter. So it was born a thought that the banking system is outdated when compared with bitcoin.

[Pejoh Asu]

I think this is a matter of competition, we all know that the main business of the banks is to raise money for third party use to finance business and they charge more than 2% per month while they only give 0.5% monthly interest to the customers, the presence of bitcoin will certainly change all things that make everyone prefer to keep money in bitcoin and this threatens their business.

[genocide]

Big banks are so nervous about Bitcoin because it may be a threat to financial stability as they gain wider use. Bitcoin is use and is being embraced by some company with plans to offer trading in the currency's futures, which is drawing interest and some concern from regulators.