Why Big Banks are so Nervous About Bitcoin ? Why ?

[maculeth]

banks will no longer be useful if bitcoin is increasingly used by people to invest their money. not interested anymore to save money in the bank, and better put their money into bitcoin. of course the bank will lose several opportunities to get interest from customers.

[Deubila]

Because there are so many people who are now using Bitcoin and maybe soon people would stop using banks because of the cryptocurrencies,
If the crypto currencies continues to grow I think we would soon be a cashless society and the banks could be ignored because of it.

That could also happen.
There are a lot of people who are using Bitcoin and soon people will stop using the bank for electronic money,
If electronic money continues to grow, I think we will soon become a non-cash society and banks may be overlooked.
This shows that the country is certainly developing, not using cash to reduce the cost of natural resources. I think so.

[developer101dev]

It is because bitcoin or other cryptocurrencies are illegal and dont have taxes. It means that if the user or investor have a big income or profit, then they will withdraw it from the bank. So that their bitcoin turn into a real money. The banks fear bitcoin because their money will turn into zero because of bitcoin users will withdraw a huge amount of money. We all know that banks have interests in you bank account or saving. And that is the one way they profit. Bitcoin is the greatest thing that you will have.

Cryptocurrency is a threat to the banks because some of the banks in other countries might be shutting down due to lack of people who are going to place their money on banks since crytpocurrency is obviously more profitable.

[zeaderza]

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

Which banks exactly? You didn’t mention the bank that is scared of Bitcoin. No bank is scared of Bitcoin, it’s just some bunch of stupid idiots that knows nothing that keeps on saying this sort of thing about Banks being scared if Bitcoin. If you bank prevent you from moving money you have in crypto to your bank account then you have serious problem. Everything that has to do with money will always end in bank. So tell me how banks are afraid of Bitcoin? Hmph… 😕

The biggest issue these banks have got is insecurity that bitcoin is creating against these banks. Those people who are using bitcoin don’t want to save tether money in banks. They don’t need to make anything in banks because all of their assets and information are secured in wallets. So these banks are little bit confused that what to do to remit this bitcoin from field.

[ganlianshifu1]

Some countries that are afraid and nervous about BTC have banned BTC!
The banks in the country that are open to BTC are changing, adapting to the development of blockchain and accelerating the digital transformation of banks!

[trickyriky]

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.

For me it is obvious because they are thinking thatcryptocurrency can replace the existing economic system and banks will have no more place in that system, so I will be worried also at their place.

Try to convince these people that competition is always great. The banking system is the greatest enemy of the cryptocurrency. banks are scared to lose their rich clients which can start using BTC and alts.
Anyway they need to approve cryptoes because it is innevitably will be our brigth future!

[bizalaz]

Banks are nervous, because, see how bitcoin is introduced in various trades and will replace the same banks, and they are not profitable for them....

[Veronika94]

Any large organization will try to suppress everything that it hurts to damage their work, and the crypto currency is very much threatening the banking system.

[Rufsilf]

Banks are nervous, because, see how bitcoin is introduced in various trades and will replace the same banks, and they are not profitable for them....

I really think the same way that the banks will get replaced by the bitcoin and that is because investing and putting money in banks are not profitable and it is more profitable to put money in bitcoin even though it is a high risk type of investment because of the volatility but every risk is worth it because you can earn a lot by it.

[DevilSlayer]

They are afraid to bitcoin because it is decentralized, there are no organization, institution or government that can control the bitcoin. There are many professionals saying that the bitcoin is threat for banking system.

[repzaj]

why the big banks are not interested because the banks are looking for tangible money and currencies but bitcoin still an intangible currencies

[jojowar]

Big banks are so nervous to bitcoin because they are afraid to lessen their clients or depositors. Bitcoin hodlers will save their money in their digital wallet which is safe. They can easily make payment or investment through their digital wallet.

[Raufjoze]

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.

I think the presence of crypto or bitcoin currency is not a threat to fiat currency, because I think bitcoin is present as a technological advancement blockchain in managing the transaction system

[tonyvo2017]

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 operate on deposits from customers. They send money there because they can not keep it with them because it needs space and is quite inconvenient and risky. Bitcoin allows them to keep their money safe by means of electronic technology. It also eliminates third-party banks in their trading sessions and keeps the user well-timed as well as cost.

[mak2017]

Banks are mostly nervous about bitcoin because they still can't accept this digital currency due to lack of regulation and high manipulation.
I'm pretty sure banks understand that they can make a huge profit on cryptocurrencies, but they can't put their investors money at such high risk.
By the 2020 situation most likely can change and we will see some banks, maybe not the biggest ones, will work with bitcoin and other cryptocurrencies.

[ocid]

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.

For me it is obvious because they are thinking thatcryptocurrency can replace the existing economic system and banks will have no more place in that system, so I will be worried also at their place.

I think both of them have very important roles, even bitcoin is made from blockchain technology which is a technological breakthrough that has been trusted by some countries and able to help some companies in the banking sector in order to encourage the accuracy of transaction data, and Of course in the presence of blockchain can help banks to overcome electronic money solutions

[orarider]

Current Bitcoin value skyrocket comes with the approval date as has to do for world organization much the government is concerned. It proves that Bitcoin gradually become “threat-legal” with respect to traditional banks. In fact, Bitcoin is challenging the monetary system, capital of the central bank by the government-backed. Power control money are separated from the institutional tradition. Each individual can now participate in peer exchange orders directly with strangers that no longer need an organization which is intermediate.

[Scavagers]

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

So there is a reason why banks want to take down bitcoin and that is because they are afraid bitcoin can dominate them. They have no control over bitcoin because it is digital and they have no access to that and bitcoin is hurting their job so what they want is to get rid of it as much as possible.

[Roomshambles]

Because they are afraid of being replaced, it's very simple. Therefore, they prefer to tell the government not to accept the currency crypto in the country because it would replace the bank.

[valentinen39]

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.

For me it is obvious because they are thinking thatcryptocurrency can replace the existing economic system and banks will have no more place in that system, so I will be worried also at their place.

Banks are scared about the entire cryptocurrency because people will start to invest on bitcoins and no one will place fiat on the banks which can reduce their tax funds.