Why Big Banks are so Nervous About Bitcoin ? Why ?

[senin]

Crypto currency is a direct competitor to banks, and quite serious and they finally realized this. Therefore, they became nervous and even began to take certain measures to discredit it. On the other hand, bankers see that it is impossible to stop the crypto currency. It enjoys great popularity and support among people and is being prepared for its possible recognition and use in its activities. Moreover, blockchein technology is recognized as advanced and reliable for the safe storage of large databases by most states. Therefore, the banks not only began to introduce the ripple coin into their system, but also after the states of the crypto currency have been legalized, they will have to render various services in the crypto currency.

[fmasta]

I think, obviously they are just fearing, that the Bitcoin can take there earnings, that they are having right now!

[cahbagus555]

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.

If bitcoin adoption become more wide spread, i think peoples will no need to open banks account. With opening bitcoin wallet, peoples already can make transaction with others with lower fee than banks and much faster

[MiukoOk]

they can think the market is collapsing, but new things is cyclic and they already had their place in the past so don't worry man

In my opinion, they do not think the market will collapse, they fear that as Crypto grows they will take over their customers, people's money will flow into the BTC, and corporations need capital. They raise capital through the ICO program. Thus, the banking system will freeze, and will not work.

[Tynovten_]

The only exactly reason is the lack of bank investors. If you compare the profit with crypto is so far away. But right now, there's exchange that accept fiat so it makes some banks alive.

[hatsoff2btc]

maybe they consider bitcoin, If bitcoin or other cryptocurrency is widely applied, the whole banking system can become irrelevant. but it is in accordance with my knowledge contained in the article.

There is no point of denying this fact that all the crypto currencies are the biggest threat to the existing banking systems as with every passing day, more number of the people are withdrawing their money from the banks and that they are investing that money into different crypto currencies as they think of this to be more beneficial which is seriously affecting the reputation of the banking system.

Yeah no doubt big banks face big problem with bitcoin investments, because people are withdrawing their money from banks and putting in bitcoin. Everybody wants to make money from his savings and bitcoin is far better than banks. Banks will never get people rich. They only use their money for their profits and people now realize this thing.

[jayyen]

I think banks are behaving foolishly. Instead of venturing into crytptocurrency and making new advances because the block chain is here to stay no matter what they are sitting there trying to sabotage. Hehe .it will not work.Banks better shine their eyes and start their cryptocurrency journey now.This is the only way for them to survive in the near future.The central bank in my country has started putting in measures to accept cryptocurrency soon and I think that is a smart move.

[laravuemaster]

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 reason is very simple, most of the people now a days are preferring to invest on bitcoins because if you will be placing your money on the banks, the scale amount of increase is very low and cryptocurrency will be more profitable.

[cloudproject]

yeah indeed they nervous because they are thingking about the future of the bank main inome itself that come from the intrestest, if there a few people are join in or saving their money on them, it can make them a bankrupt

[Miracleismyidol]

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. 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

[parthgajjar]

Blockchain's technology is really futuristic that banks too are implementing its technology in their system and reading its effects. I do know a state bank in my country which is implementing blockchain's technology for its functioning.  I think they see this as bad to their system in which people will better take risk than to invest to them in which the interest were very small

[logan16j]

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. For me, big banks are not so nervous about bitcoin because they are the most trusted and most famous of all. Yes, bitcoin is now getting very expensive, and the community of it is growing

[Bitcoincole]

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. For me, big banks are not so nervous about bitcoin because they are the most trusted and most famous of all. Yes, bitcoin is now getting very expensive, and the community of it is growing

I think they are not scared rather they are anxious that bitcoin may affect their industry since traditional banking may be outdated due to the potential domination of blockchain where no  strict rules will be implement unlike the traditional banking that has bundle of requirements but with a very minimal return of your money unlike cryptocurrency.

[t2yax]

This could be sometimes, banks have the fear on relying bitcoins. Sometimes, profit or income coming from bitcoin sometimes comes from gambling or in illegal use. We see that bitcoin doesnt have yet  security for which we cannot see whether it is illegal or not, we cannot assure that bitcoins are in illegal way. We know that bitcoin is sometimes come from any of websites

[tepakpak]

Can be said the bank is afraid of being replaced with bitcoin. Probably because bitcoin is more promising and many are investing dibitcoin, and banks see that if investment in btc without interest. Maybe that's the main reason.

[fight-T]

I think the big banks are afraid that bitcoin will replace them, because bitcoin is really thriving on features as well as profitability.

[nebuch]

Basically banks will got nervous about the rapid growth of bitcoin profit. Shocking but we all know the truth that bitcoin is not own by government while banks are own by government. Whatsoever the laws of the country there should have a big relation to banks with bitcoin to its territory. Or maybe those people got sick because of too much drinking of coffee. It should be stop immediately if coffee couldn't help you to focus your mind and fix it until everything is alright by people with banks with crypto.

[JeramiParan]

They are afraid of bitcoin because of the fact that number of people is getting large, and people engage cryptocurrency don't need a bank, in a traditional way people use bank as money storage, but now is different, because cryptocurrency has its own wallet and bank might lost there profit.

[sarjilcse]

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 If all the people adopt and use bitcoin, no wonder the banks will feel nervous about it because there will be no one who needs their service for savings account and for other transactions. Bitcoin is peer-to-peer cash system, where you can send funds directly to the person you are transacting with and you can save your money to an e-wallet.

[doomloop]

No ..not the bigbanks.
And I think small capitals banks are worried because cryptocurrencies can still operate without any helps of banks. And this is the threat why they are afraid on the popularity of btc right now. That's why they  created some groups who spreading false news about BTC. They are making black propaganda.

Banks are with new innovations but they are still going down and all its strength has reduced by the evolution and disruption in the market, this disruption brought by the Bitcoin and then other crypto coins. As far as Bitcoin goes the strength of banks will be reducing but will not collapse as banks are also a part of life and play its role which is also necessary. The only reason for the nervousness is the popularity of crypto market and especially the Bitcoin.