Banks admit they fear BTC

[Capt00]

We're getting more into competition everyday that brings us into trouble and misunderstanding. Actually,  banks will sure get worried cause crypto is getting strong and continuously spreading worldwide.  With that happenings, it may consider that a lot of people where getting into it and left banks. They just totally worried of how much they loss when people will leave them, because crypto won't need banks and banks may become not useful at that time.

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[Rubble898zaitO]

A very good read, thanks. It seems like banks will do whatever they can to discredit crypto currency, huh? I guess that's all part of the business. Crypto Currencies are getting a lot of attention from potential investors which in turn increases its profitability. Moreover, it hurts banks especially when investors cash out as it means they would have to release funds which, as I would put it, didn't come from any regulated form of investment.

[toygama]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Right. Being in crypto, we are our own bank. So its obvious that banks doesn't like bitcoin because they are going to lose potential profits from it. Imagine people not going into the usual route when moving money around. That's billions of dollars getting out of their hands.

So to eliminate competition, they will attack it. They are waging wars against bitcoin now and I think it will be a continuing battle. But bitcoin will not eliminate banks, and it has no intention to do in the future.

Of course that's the game of the business the banks seen already that bitcoin is possible rival in their business, cryptocurrency can provide their own wallet it means less clients for the bank. Digital currency can manipulate its transaction by not doing the normal bank procedure. Banking business still needed for fiat transactions that's their advantage.

[genocide]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Banks are afraid of BTC because it really affects their daily transactions and considered BTC as one of their major competitors. Why? Because when people know how to invest in BTC, they don't need a bank to do the transaction. They can easily transfer and get money as it is their own bank who do transactions for them. The use of BTC also decreases the number of depositors and creditors. People do not need to deposit in a bank but rather investing their money in BTC for a higher return on investment.

[BTCeminjas]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Banks are afraid of BTC because it really affects their daily transactions and considered BTC as one of their major competitors. Why? Because when people know how to invest in BTC, they don't need a bank to do the transaction. They can easily transfer and get money as it is their own bank who do transactions for them. The use of BTC also decreases the number of depositors and creditors. People do not need to deposit in a bank but rather investing their money in BTC for a higher return on investment.

That's exactly right, that's why some countries did not embrace bitcoin at their place. There is the reason why it is because it may use for illegal activities but behind of that they want to regulate bitcoin or they want to eliminate their big competitor in terms of currency holding.
Yes, it may lessen their investors and creditors because bitcoin is very profitable to invest and the best thing is you are the one who holds your money without paying tax.

[Alalex]

I think the banks are getting restless because they feel that there is a strong competition, so a lot of fake news and lies are starting to terrorize cripto money.

What a stupid government forbids the cripto money from being useful.

Whereas with the existence of this cripto money can help reduce poverty of the world that the average world population experiencing poverty more than 70% of all humans in this world.

Therefore we should be able to keep the good name of cripto money to be well judged in the presence of government and people around us.

My current will is that the government is paying attention to the fact that cripto money is useful to people and to all people.

[ivrynx]

There is no doubt that banks will fear cryptocurrency, since banks are also holding currencies for themselves, and it is a business for them. Once people learned how to use cryptocurrencies and take advantage of the security that their wallets can provide, there will be less and less people that will go to banks just to save or jvest their money on, since there is already an alternative way, in which it is much safer, costs less and much faster than the traditional banking system. Cryptocurrencies are no doubt much superior than banks, but still needs more improvement is some parts since people are just starting to like cryptocurrencies as a whole, not just bitcoin.

[hajimasan]

https://cointelegraph.com/news/polish-central-bank-secretly-funds-anti-crypto-youtube-propaganda-videos

Something i have been suspecting for a long time, now it has been officially confirmed.

Banks and governments have been investing in fake news to discredit the cryptocurrencies, because cryptos can save us from poverty and slavery.

The news against BTC indeed seem terror messages made on purpose.
There have been too many, too frequent and too aggressive fake news, and i felt like something is fishy about them.

Bitcoin is a way of letting common people have their own money in their hands like normal cash, and exchange money^[1] with other people directly from remote (that is a plus compared to cash ).

This is good for us, not for the evil ones.
Our beloved gov guys prefer us to put our money in a bank account, which is like we are lending them our money and hope we will see it again.
That is also why the govs are trying to reduce or ban normal cash ( e.g. read this https://www.zerohedge.com/news/2016-12-14/real-reason-elites-want-ban-cash , or this http://moneywise411.com/government-attempts-to-ban-cash-whats-most-disturbing-is-why-theyre-doing-it/ ).


Go crypto and HODL my friends.
They fear crypto because it can save us



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[1] With "exchanging money" i don't mean just forex trading, but all commercial exchanges like buying goods directly from other people
---

This is truth that banks are feeling fear from the technology of cryptourrency Because here we are moving our money and making lots of earnings and opposite of this we are not flowing our money into bank that why they are thinking that if this will happen continuously forward then surely it will result into that people no more out Thier money in bank and will go only for cryptourrency  .
So due to this reason they are forcing government authorities to take a legal action against cryptourrency and at another side banking sector are claiming that they will use bloclchain technology to make more secure Thier system soy hat people can move towards the banking system more than what Thier attention towards the cryptocurrency is .
Here we should not get into fear at any side because these are just Rumours and only a way to make people to get into Panic .

[munareal]

What do you expect from them when the know that crypo currencies will one day take over their business and crypto dealing is the future.The wise ones will try to study the blochkchain technology and integrate them to their business . Propaganda can not kill the truth

[MIZANUR5033]

People are getting success from bitcoin but banks and governments are loosing some benefits by using this coin by the people.
There is no community between bank and bitcoin so that people can invest and cash out money from this coin without any taxes and fees. Now people are investing much money into bitcoin by rejecting lay down their money into bank so it is not good for any bank.

But there is no any aggressive step taken by any bank till now and there is many fake news is running beside us. Don’t take any decision by knowing any of them. Bitcoin will be at there at recent future that’s for sure so that you can run your dealing with it without any confusion.

[Gameroid]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Banks are afraid of BTC because it really affects their daily transactions and considered BTC as one of their major competitors. Why? Because when people know how to invest in BTC, they don't need a bank to do the transaction. They can easily transfer and get money as it is their own bank who do transactions for them. The use of BTC also decreases the number of depositors and creditors. People do not need to deposit in a bank but rather investing their money in BTC for a higher return on investment.

In current time i do not think that they afraid from bitcoin, because still there is no such bad effect of crypto currencies on banking system, but in future when the users of crypto currencies will increase then may be they start giving more preference to online currency and will ignore banking system and then it will surely harm banking system too much.

[innocent93]

Somtimes is hard to belive in something when everybody are against it. The fact that everything went public it is just an other way of mass manipulation, i belive that behind doors banks and goverments are real investors in crypto.

[raidarksword]

Banks fear bitcoin because it can make them out of business in the future. Banks get profit from their depositors that is why they are doing everything they can to give bad reputation about bitcoin by talking out on medias. More people should be more aware about bitcoin because it can and surely will lift them up from poverty.

[kissme09]

In my country because Bitcoin increasingly developed banks increasingly worried about it. They are afraid that Bitcoin will be the people's choice to keep their money instead of choosing the bank for the savings. This makes banks unable to scale their capital.

[BTC-BTC-BTC]

I don't know is that big a problem as they think. Banks will come up with new ways to earn more incomes thru different ways. All the laws are setup to protect big banks in most countries. So I don't they have any problem in long term.

[btc.xbt.btc]

It was obvious since the beginning. Anything that can threat the control they retain over wealth and money would fear them. And the fear is even bigger when they are dealing with something that is decentralised, harder to track and anonymous.

[P3]

Everybody fears for something they can't control, same with govt and banks, since cryptographic money is decentralized, they can't just control the online market, however this issue is running since the day bitcoin snatches the consideration of citizens, this affirmation nailed it. In spite of the fact that it is evident and as of now anticipated that would happen. Govt and banks are additionally receiving, and truly into handicapping the market. In any case, bitcoin is path in front of them.

[RudeeTam]

It's a long time coming. With crypto making a killing in the market especially in global trading and making people money, they are very afraid that people might lose interest in investing in their stocks and putting their money in banks. But really, banks are still relevant with this kind of business and I believe they shouldn't be concerned much.

[miltonpogi]

For me, it is true that banks fear BTC, because as you see most of the investors find a investment sites that they can gather a large amount of money, that mentality of investors become the fear of banks to BTC, banks know that in transactions and holding BTC is more sufficient than them, but banks will never let happen that's why they are making some changes in their process.

[saqibmunir]

BTC itself is central bank, BTC is money!

Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!

Less banking means less profit!

Right. Being in crypto, we are our own bank. So its obvious that banks doesn't like bitcoin because they are going to lose potential profits from it. Imagine people not going into the usual route when moving money around. That's billions of dollars getting out of their hands.

So to eliminate competition, they will attack it. They are waging wars against bitcoin now and I think it will be a continuing battle. But bitcoin will not eliminate banks, and it has no intention to do in the future.

Of course that's the game of the business the banks seen already that bitcoin is possible rival in their business, cryptocurrency can provide their own wallet it means less clients for the bank. Digital currency can manipulate its transaction by not doing the normal bank procedure. Banking business still needed for fiat transactions that's their advantage.

Yeah Banks in general, are always looking for ways to reduce their exposure to risk by balancing the profit from the provision of loans and investments on behalf of their clients. The bitcoin system in its present form should seem so insignificant in comparison with the usual operations of the bank, which, probably, is not worth contemplating.