Why Big Banks are so Nervous About Bitcoin ? Why ?

[whitecaramel1]

ı think 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.

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[Tenderino]

I doubt that banks are really nervous about bitcoin or other crypto currencies, because the banks are backed by the governments while crypto currencies are not! Crypto currencies can only run separately to the fiat money system, because the fiat money system users finance the state budget of a country. And the history has shown that governments and economy highly rely on endless money printing to finance everything.

[romeo23]

Banks are still extremely oblivious to how powerful Bitcoin (and all other virtual currencies for that matter) is and how it will eventually start to prove their business model as obsolete.Banks fear bitcoin, because they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it...purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.

[cryptojac17]

Banks are still extremely oblivious to how powerful Bitcoin (and all other virtual currencies for that matter) is and how it will eventually start to prove their business model as obsolete.Banks fear bitcoin, because they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it...purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.

The reason why  banking system  in  threatened  by bitcoin because of the  peer to peer transaction and decentralized system. The centralized system of banking system is  the bread and butter of banking system in which they are the one who will market your money and asset and only part few percent will go back to the depositors they  serve as a third party who  will control your money.

[Kizaki]

Banks are scared of cryprocurrency when it became very valuable and can be converted into fiat. Since most people who save their money in banks for little interest opted to invest in crypto instead since it is secured, convinient and volatile. They choose to invest because they can earn more money through it, since then only few people use bank as a security for their money. That is also the reason why they are scared because time might come no one will use banks anymore.

[KennyR]

Banks were not that nervous about bitcoin and the cryptocurrency, because they have the support from the government through which at any instance they can eliminate or suppress the use of cryptocurrency. Now banks were with plans to create their own blockchain for the successful functional needs.

[Ryanpogi]

thanks to our questions, now I'm not sure what Big Banks are so Nervous About Bitcoin? much more comments here. so thank you.

[Samtob4]

bitcoin is getting more popular due to  that a popularity of a bitcoin and its advantage as an electronic currency such as security and fast money circulation, with that many investor prefer to invest there money in bitcoin

[Tylev]

In general, banks are not afraid of crypto currency, including bitcoin. They have nothing to fear from crypto currency, because banks are an indispensable attribute of every state. While there are states, banks will exist. Nervous about the crypto currency is not banks, but bankers, because being worthy rivals to banks, bitcoin and other crypto currency is taking away their clients from bankers. Therefore, bankers receive less profit. Because of this they are nervous. At the same time, they also understand that crypto currency has huge advantages over conventional money and is based on advanced blockchein technology, and the SWIFT-banking method for transferring money in comparison with this technology is very outdated.

[pallang]

Banks has no fear about bitcoin it's only the fake news that trigger the rivalry between this two because we all know that banks had already active since the beginning people are already familiar in having their transactions through banks so no need to worry about bitcoin.

[weblouartisan]

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

They are afraid that most of the people in the future will focus on investing in cryptocurrency and if people will just turn their side against banks then there is no doubt that banks will fail to have supply of money and they will lose their own business.

[Pinoyfan]

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

The only way that a big bank will get nervous about  bitcoin is that due to a popularity of a bitcoin 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.

i think banks are afraid in bitcoin and other cryptocurrencies because bitcoin and other cryptocurrencies are so convient to visit. and you can create a wallet easily. in my experience i first create a bitcoin wallet before my bank account. its funny but its true. actually im planning to transfer all of my money in my bitcoin wallet cause in my bitcoin wallet it makes a profit easily. just a couple of minutes.

[Ca.ming14]

Banks are nervous about bitcoin because of it's capability to compete with fiat money and so for bitvoin has a lot of supporters including other countries.

[setialovers]

Banks should be afraid with bitcoin or others cyprocurrency. Cryptocurrency can eliminate intermediaries like banks. For example, we dont have to open bank account if we can open bitcoin wallet without fee anytime we want and we dont have to provide our IDs.
After we made wallet, we can make transaction thru internet with somebody all around the world and transfer with lower fee than banks fee. Our transfer is fast and its instant transfer because just a minute they receiving our bitcoin

[paul gatt]

Banks worry about bitcoin for a variety of reasons. If bitcoin becomes an official currency, banks are required to accept bitcoin transactions. Electronic money exchange is worried because the price of bitcoin is different each time. Banks incur a loss if they import bitcoin.

[qwertyup23]

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.

The reason on why banks see bitcoin as a threat is deu to the payment system it provides to users. As what you mentioned, the existence of bitcoin eliminates the need of a person to transact personally to another through the use of banks. Another thing, banks are also businesses present in every country and their main goal (like any established business) is to earn money. The existence of bitcoin has influenced a lot of individuals to invest money on a non-regulated source which makes banks irrelevant in the picture. This may also potentially disrupt the equilibrium in the money supply in the market.

ı think 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.

A currency's value is determined upon the number of gold reserves a country has. Factors such as inflation, money supply and demand, economy etc. are also some determinable sets that affect one's value of currency. Cryptocurrency, specifically bitcoin, cannot replace the traditional paper money yet as countries have their different economic and technology level.

[roll on]

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

Banks are getting nervous because our force is getting stronger, and better. Many of us are using bitcoin to be more intelligent to ear money bit by bit.

[Sled]

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

Banks are getting nervous because our force is getting stronger, and better. Many of us are using bitcoin to be more intelligent to ear money bit by bit.

Bitcoin is simply a destroyer for the banks and that is the reason why the big banks are now getting nervous because just like what you said, we are getting bigger and sooner than later we will see more adoption from people that will give mo chance for bitcoin to last for a longer time and as the people keeps on growing in bitcoin then the banks will get a lower amount of interest from people.

[eroejoe]

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.

You made great points on reasons why banks are nervous. Banks and similiar institutions now are trying to get involved in this whole thing by pumping money in it, so we can made profits because of their fear to lose their money and power. The biggest wealth distribution ever. Bitcoin is revolution.

[Tungsten-1]

Banks has no fear about bitcoin it's only the fake news that trigger the rivalry between this two because we all know that banks had already active since the beginning people are already familiar in having their transactions through banks so no need to worry about bitcoin.

Banks are primarily used for the sake of keeping your money safe and that to perform different kind of transactions. The survival of the banks is no doubt in danger and that the only reason behind that is all the crypto currencies can help the people in meeting all their needs and above all, it is also helping them in gaining more money because of the rise in the market value of the crypto coins.