Why Big Banks are so Nervous About Bitcoin ? Why ?

[tongkatakai]

in today's world all people around the world mostly already know what is Bitcoin. Bitcoin is excellent for the quick profit-hunters. This makes many investors get rich suddenly without sweat

[stephanirain]

In my own personal opinion, big banks are so nervous about bitcoin because people are getting more profit from bitcoin investment than fiats and if bitcoin continue to increase its price more people will invest in bitcoin, that is why they think bitcoin could removed banks that people will not use banks anymore.

[Freddie Aguiluz]

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 will not be needed for security and easy transaction if digital currency takes over, if digital currency is known to every one then banks will be bankrupt

[jeraldskie11]

Banks are so nervous on it because bitcoin is more popular and powerful nowadays ang they think that bitcoin is their competitor because there are many people using, believe and investing it. Some countries didn't accept bitcoin because they are afraid that this will affect their economics. If it is will exist in a long time then it will be a big treat for them that's why they scared for it.

[Anarchist]

They are not nervous, they are just closely following the development as the blockchain technology is what really matters for them.
Other than that, they give a warning to people telling them investing in crypto is risky etc. But seeing all the crap ICOs and coins I would say it still good trying to prevent people losing them money

[Google+]

it's because bitcoin has a very sophisticated technology, bitcoin can also make people very rich and bitcoin can also be used to save money without having to store in the bank. the use of bitcoin is also safer and does not require more bank intermediaries anymore.

[noah tall]

I think that's not possible for real life. You should stop think that the world currency will end up by start of cryptocurrencies, that's not how ot suppose to be.

Big banks nervous on bitcoin because theres possibility that banks will replace on bitcoin because of the price is fast to rise and theres possible the money of bank will reach on bitcoin and many persons trust on bitcoin because its safe to earn a money on bitcoin.

Although currently its look liked difficult, but in future when bitcoin users will increase too much, when bitcoin will become too much popular then it will surely effect banking system, because it will become easier for the people to use bitcoin for shopping and trading purposes as compare to banking system.

[Tukmol29]

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.

[cdoyle14]

BTC for today create some common way to still the money from banks. It is normal thing that the banks must create some strategy for future. Because they can die in one moment in the future

[cryptobluemoon]

Bitcoin came into the market as banks disruptor banks feared all investors will start holding the money in crypto currency but in reality cryptocurrencies will support banks in terms of technology sharing and improvement of banking

[bummm]

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.

In reality, the threat is exaggerated. I do not see that the cryptocurrencies can ruin fiat or the system of the banks. There is no one reason to be afraid of the crypto.

[ahmad21]

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.

In reality, the threat is exaggerated. I do not see that the cryptocurrencies can ruin fiat or the system of the banks. There is no one reason to be afraid of the crypto.

Bitcoin poses a threat to the very existence of banks. Bitcoin completes the financial transactions without the involvement of the intermediaries. This means that we do not need the intermediaries which are “the banks”. Bitcoin is also decentralized which does not need any central authority to control it. So, government can lose their control over the financial system of the country as the governments excise control over it through central banks.

[makolz26]

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.

In reality, the threat is exaggerated. I do not see that the cryptocurrencies can ruin fiat or the system of the banks. There is no one reason to be afraid of the crypto.

Bitcoin poses a threat to the very existence of banks. Bitcoin completes the financial transactions without the involvement of the intermediaries. This means that we do not need the intermediaries which are “the banks”. Bitcoin is also decentralized which does not need any central authority to control it. So, government can lose their control over the financial system of the country as the governments excise control over it through central banks.

Exactly! Just imagine how much losses they are incurring right now due to the fact that we can easily transfer money from btc to btc in just few minutes so it really makes the transaction easy and hassle free for both parties remitting the money so bank are really threatened with this kind of innovation.

[Beck09]

How would you rather feel if the power you weild over another is being taken away.

And you literally have no other grip?

[genrihko]

It is very much nervous, they are worried because their business is getting affected because of this. Who will use banks for transfer when crypto allows in less fess.

[KeijiN]

I think the reason is obvious, they are affraid because the conclussions that bitcoin can bring into world economic system, in which they would not have a part in!

[SingAlong]

I think that the main reason of banks why they are afraid or being nervous on bitcoin because of the qualities of bitcoin have it is more convenient for all the people because it is easy to use because it is digital and it has more chances of earning profit especially for those investors instead of investing in banks they will rather choose bitcoin. They are afaid that because of the continuously growing and being popular of bitcoin that may be forgotten as the monetary system in the world and replaced by digital currencies which is the bitcoin.

[blogardianz]

I think because of bank afraid that every person in the world will not use their services again. The blockchain technology can solve the internal banking problems. That's why several banks so nervous about Bitcoin and Blockchain technology.

[Sled]

I think because of bank afraid that every person in the world will not use their services again. The blockchain technology can solve the internal banking problems. That's why several banks so nervous about Bitcoin and Blockchain technology.

Because of the blockchain technology of the cryptocurrencies, the banks will not have any purpose to stay in the future because the people could just use the cryptocurrencies to make transactions easier and faster than the service of the banks so the banks are now shaking because of the nervousness but i think they might adopt the blockchain to avoid getting swiped out.

[hckdeface]

Banks and the government both nervous in bitcoin, because for the first time ever they're not leading the money game.