Why Big Banks are so Nervous About Bitcoin ? Why ?

[onereous]

Big Banks want to destroy Bitcoin before it destroys them. Bitcoin, the “people’s currency,” 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.

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[Jupeter]

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

For me there are some big banks who are so nervous about bitcoin because bitcoin have s big chance to be the future of this world and right now bitcoin is becaming very popular and many people is now trusting bitcoin thats why big banks are so nervous.

[Pattart]

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.

Yeah can say that blockchain technology that brought by bitcoin is very innovative and that is what many users want. Decentralization on the currency is still very new in the world and you know there are many people who are interested. and that's why banks are afraid. because they get threats from bitcoin

[arumslee]

The possibility of cryptocurrency used as fiat currency in day-to-day life could revolutionize the entire financial industry. Without intermediaries, people can govern their own identity, personal information, and finances themselves. Big Banks should be scared. With the amount of corruption involved in financial services, blockchain technology and cryptocurrency could make them obsolete.

[adamlillian]

I think because most banks have partnered with Bitcoin to use Blockchain technology. So when Bitcoin prices fall, banks will be equally affected. So all the fluctuations in Bitcoin make the banks worry. That is my thoughts on this event.

[viananda2525]

I think because most banks have partnered with Bitcoin to use Blockchain technology. So when Bitcoin prices fall, banks will be equally affected. So all the fluctuations in Bitcoin make the banks worry. That is my thoughts on this event.

i dont think about this thing.they worry while techology bitcoin improved and could substitute as global payment system.and right now lightning network transaction use small fee with high speed.if this implemented no one want send their money using bank.

[squog]

For one thing, more and more people are pulling out their deposits in banks and investing them on virtual currencies. Especially now that the value of virtual currencies are steadily increasing. Well, i think as virtual currencies gain momentum, we will see blockchains created under banks. Maybe we will see bank coins or something.

[cleygaux]

With cryptocurrencies continue to arise everyday more investments are getting in this means more bank transactions are happening so why banks will become nervous in digital currency? How can we convert our coins to fiat easily if banks would disappear? Yes we need banks and vice versa it means there is an equal opportunities for all of us.

[Bionicgalaxy]

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 big banks are nervous about bitcoin because one day people will not be needing banks if bitcoin and blockchain technology was approved by the government in every country.  But i think big banks will think of something for them not to be removed by bitcoin.

[Chienna]

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

Maybe because bitcoin has a big future in this world  and they can provide the needs and wants of the people. Banks are so nervous with bitcoin is it because their business can be affected by the bitcoin. And maybe they are curious that what if one day their services will not use again? Banks and also a government nervous about bitcoin it's just because in the first place they are not leading the money game. And I think many people trusted the bitcoin now so that banks are so nervous.

[raahi]

The bitcoin has direct contenders with the big banks because it is decentralized and does not take any tax, also it goes a very high rate of return compared to the world, this has made bitcoin a better investment than giving your money to banks which is why they're worried.

[IMAR]

Because bitcoin is decentralized platform and that means they are not being control by any entity. Bitcoin fees is way cheaper that banks. People could transact faster and without middle man who is hampering the process and even adding on the cost. People had wake up already. If banks will not do anything how they could integrate this system on their current platform, they will be out of the business later.

[salahfycl]

yes banks are so nervous about bitcoin because its the arch enemy of banks , bitcoin, has the potential to become a new currency, free of the control of big banks That’s why they want to limit this potential.

[revo1044]

Bitcoin allow people to trade directly with each other, cutting out the need for banks so if the bitcoin will be the future money We do not need banks in all our dealings .

[TravelMug]

Just imagine losing a big amount of revenues when people started to used crypto more. Lol. I'm sure any business entity or person who has been doing good for centuries will suddenly lost its grip because a new competition just entered the picture and reducing your income big time. That's what big banks are afraid of crypto, remember this banks is also a big business and anyone who is a threat should be eliminated. Lol.

[Andrew S]

Because they want to be the only instrument of power over money, and the critical currency is a big competitor for them.

[Vorzlave]

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

Because they have to make a decision to save their product (money). In case we don't use money as our payments system anymore. The bank will lost a lot of transactions thats makes their money values decreased.

[Dowrich80]

The  reason why banks are worried is due to the fact that they are affected by the government and do as they say whereas in bitcoin people have the power this has to lead to them making their own form of cryptocurrency called ripple which has gained much popularity in the marketplace of cryptocurrencies,

[boddy.dy]

Big banks are so nervous about bitcoin because of competition on investment. Well banks are wise and has a lot of resources especialy if it is about it's competitors. Before banks even don't know about bitcoin but because of its popularity and some of the investors go thru the crypto currencies like bitcoin that was the time they knew about it. Crypto currencies can replace banks in my opinion but I guess that it will take a very long to happen. And that chance I guess is also one of the many reasons why banks are nervous about bitcoin.

[Lady Coquet]

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 big banks are nervous about bitcoin because they think everyone will not be using banks anymore if blockchain technology have been approved by the government in every country. That is why big banks are thinking other ways for them not to be removed by bitcoin.