Why Big Banks are so Nervous About Bitcoin ? Why ?

[bncbnc]

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.

In fact people are now changing their strategies, they are now trying to invest their money in online business and therefore they are giving more preference to keep their money in online wallet which is more easy for them to use for their different purposes, i think that the use of online currency will increase too much which will defiantly effect the banking system.

[Et Hereum]

why big banks are nervous about bitcoin, now we know that the body that validates and formalizes cash is the bank, maybe the bank is worried about the emergence of this digital money or another name bitcoin, because with the bitcoin can make cash extinct.

[Noelbetty12]

If bitcoin is interfering with banks processes and sales maybe they have something to fear of. Yet I don't think banks are so affected because if they do certainly most of them could have been closed right now. Banks exists and gains profit from the loans many people got into. I haven't heard about loans so far in the cryptoworld. I heard that there are banks but there are no existing business that offers this.

[YED]

Big Banks want to destroy Bitcoin before it destroys them Bitcoin has the potential to become a new currency, free of the control of big governments and big banks.That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

[sumanto]

of course the bank is very frightened by the bitcoin because I think if there is a bank then it is definitely the bank will not be used much more for some communities because there are already bitcoin that can replace the function of the bank.

[dinar99]

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 big banks are so nervous about bitcoin because 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 They will afraid that many high investors will investing to bitcoin. So, The big banks should addopt the crypto technology for their banks or create a new crypto.

[Barrett Thomas]

There would be less depositors because some are investing to the world of bitcoin..it has a big value and somewhat promising and many people like business minded would choose to buy bitcoins because of the opportunity to earn more.

[kucing69]

It may just be that big banks fear that bitcoin is going to beat him.
The more people who use the bitcoin might someday in the future people will prefer the bitcoin as means of transaction and the currency in some negarapun not enacted again and banks will go bankrupt.

[mimienamphine]

Why won't they be nervous?They will be because banks are very greedy.And greedy men are about to lose their source of income which will be directed into bitcoin to benefit all and sundry.Banks cheat people to be rich.One day when every individual come to understand the cheating activities of banks and start to look at cryptocurrency as the best option,all banks will definitely collapse with no exception.

[CryptoMauren]

Because the presence of Bitcoin and other digital assets can disrupt the stability of the national financial system. Bitcoin creates the risk of financial system stability in the event of a bubble burst, as there is an interaction between the virtual currency and the real economy.

[Ryker1]

Big banks are very nervous? Why? It is because bitcoin is like them, but in bitcoin you'll earn profit even though you will put or transact your money on it. Unlike in banks, when you transact it there, the value of the money will only get less as the year goes on, and they only have a little interest in it. In bitcoin as year goes on, you might not be able to tell the price and profit you'll earn, it might get up high tomorrow, next week, or even, next month. They are afraid that bitcoin might dominate the world, and in the future it might turn out that we'll use virtual currency and there will be no need for them.

[diva.man]

Bitcoin payments have been accepted, potential space for appreciation and a new generation of investors.

The fact that bitcoin and its transactions are not regulated at the moment, compared with Banks that are still heavily regulated by the government, has a strong competitive edge, which is what makes banking nervous.

[lexiaalexin]

Staley’s rebuttal echoes that of Goldman Sachs’ CEO Lloyd Blankfein in January, who put an end to similar speculations that the New York bank would set up its own cryptocurrency trading desk. Goldman Sachs has - reportedly “inadvertently” - owned a stake in a Circle-owned crypto trading desk since 2015.

[logicgate]

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.

  About banks, the disruption happened and is happening more and more as the Bitcoin is on the increase trend and people are accepting it due to its features and easiness it is bringing towards them. Banks are feared and scaring from the Bitcoin as their works has been disrupted by Bitcoin as people like Bitcoin instead of banks what the banks are expecting. Bitcoin is more responsive than banks and that is why people are choosing it.

[aaronaaronic]

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.

[Chicksteen]

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.

In fact people are now changing their strategies, they are now trying to invest their money in online business and therefore they are giving more preference to keep their money in online wallet which is more easy for them to use for their different purposes, i think that the use of online currency will increase too much which will defiantly effect the banking system.

even investors put their money more in investments, they would like to put their savings and profit not on online wallet but in more safer place which is banks. Banks will never lose its role in the world even digital money exist and also online wallets. There are more fraud and scam in the internet and hackers are there everywhere.

[Mazand]

Just because big part of existing and potential clients may be lost as a source of profit. And having competitor with cheaper service they will have to lower the fees for their services. That's way they support controlled Ripple.

[hroub]

Just simple thing i can say in this case, bitcoin price is getting higher, it make bitcoin popularity rank increase. That both are making the bank nervous. Why? Maybe more bank customer just take out money feom bank and start buying bitcoin.

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[Nylesor]

I think bans are nervous about bitcoin because more and more people are now using bitcoin. And more people are investing their money in bitcoin instead of depositing it in banks. Wherein we all know that banks are being alive because of peoples deposit or savings which they use to earn income.

[Babyrica0226]

Because in Banks, they ask a lot of requirements to their clients before putting their money in the bank. While, if people will do savings using

Bitcoin they can do it easily without giving any important documents compare into Banks. so, that's maybe one of the reason why some other

bank are nervous about it due to their client might get decide to full out their savings and transfer it into bitcoin because it is much safer than

any bank in my opinion only.