Crypto threatens Bank of America?

[Emin90]

such news we hear increasingly is no longer news that State or a single public body wants to ban bitcoin and crytocoins in General!!as said above, we do not know much and just need to watch from the.

[Bezobraznike]

Anyone attached with cryptocurrencies by investing in it or having some shares in it has complete control over their money and that is what banks are concerned and worried about. As this will completely eradicate the middleman that is the bank. Which will stop filling pockets of the group of people who somehow run the country by the taxes and all other penalties they give. This will lead to their destruction which they don't want and that's the reason they oppose it so much and it's a threat to the banks.

   I came with conclusion that all the banks in the world are threatened. They realize
that Blockchain is better and people are joining. Every time when someone joins banks
lose! From 2010 until now how many people transferred their funds from banks into
Bitcoin? I doubt we can check info about that, what is sure is that that number is
rising.
    Banks are big companies, some of them will find a way to adopt to the new system.
With money they earned until now, making new alt-coin for their own purposes can be
a good idea for them. It is Blockchain, they can try that, but they will need supporters
and followers, if they manage to find that they will be able to do a lot on this field.

[bitcoinrays]

I realize this news came out 2 days ago however I love this! Bank of America in fear of crypto as a business risk, ha them bastards deserve what's coming next because they and all the other banks have been screwing us in the billions of dollars in bs fees and penalties annually, not to even mention the trillions of dollars they have tied up in their junk CD's and savings/bank accounts. Here's a link to the article for more info: https://www.coindesk.com/bank-of-america-cryptocurrency-risk-factor-annual-report-10-k/

I’m not really sure of that. First, America is world power and they control most things today. So if crypto threatens their economy in any way, it’s likely to be that they will find a way to take and even fight against it. But since they are not doing anything in any way to refuse or reject the use of Bitcoin, I don’t think Bitcoin is threatening them.

[el kaka22]

This is something a news that affects cryptocurrency business, although many times I heard a news about banks banned crypto business, but until now cryptocurrency business still exist. Maybe all threats are form of any personalities from governments to force cryptocurrencies pay taxes. If we try to think, why there are some forms of threats, maybe it is only a strategic way in cryptocurrency business, and we don't know the reality or the truth, because we are only a crypto enthusiasts, because the reality and truth is beyond the creator only.

Banks cannot stop anyone from doing whatever they like, they can only try to persuade people into not doing what seems beneficial to the people and non-beneficial to the banks. Selfish bastards just as the OP called them and they truly deserve what is coming to them. It is high time we told them enough is enough and all their shenanigans can no longer work.

They will always see cryptocurrency as a threat and that is fine as long as they feel what we have always been feeling all these while. Hence I am not surprised they feel threatened and they really should.

They have ridden us all this while and stolen from us all and they keep bringing policies that would always affect the masses and I guess they are now getting what they deserve and the fact that see funds moving out possibly into crypto, they must start feeling the need to want to instigate the idea of a huge risk on the clients so they can bail out and come back running to them. They have lost.

[carlisle1]

I realize this news came out 2 days ago however I love this! Bank of America in fear of crypto as a business risk, ha them bastards deserve what's coming next because they and all the other banks have been screwing us in the billions of dollars in bs fees and penalties annually, not to even mention the trillions of dollars they have tied up in their junk CD's and savings/bank accounts. Here's a link to the article for more info: https://www.coindesk.com/bank-of-america-cryptocurrency-risk-factor-annual-report-10-k/

this is what they deserve,after given us a burden in all aspect of payments and fees and penalties,now because of bitcoin,and the whole cryptocurrency world,they are alarmed of its presence and what may cause them in future,maybe now they will extend theyre arms on us just not to leave them and concentrate in crypto

[etron]

yes, the bank will feel threatened by the presence of crypto and what they fear is the loss of customers who have switched their investments into the crypto world, and I strongly agree with your argument, and with that we have been liberated in the trap of third parties who want to use the money we save, and from our savings in the bank, they have made a lot of profits, and we have few benefits.

[prtty2gal2]

One of the world's largest financial institutionsadmitted in its annual report that cryptocurrency is a looming threat to its business model. According to a report filed with the SEC by Bank of America, "Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies. Increased competition may negatively affect our earnings by creating pressure to lower prices or credit standards on our products and services requiring additional investment to improve the quality and delivery of our technology and/or reducing our market share, or affecting the willingness of clients to do business with us."

And they have not even seen any threat yet because it is coming at them very soon. I guess that was one of the reasons why they were trying so hard to see how they can get rid of it by poisoning the mind of the people towards it.

We are not stupid and we only just did not have an option before, but now that there is a better option, they can keep whatever they want to say to themselves, because no one absolutely cares. It is high time they realized that what they have stolen from us is enough.

[Aikidoka]

Cryptocurrency has always been a threat to banks in general not only bank of America. And they always resort to any method to belittle it like media. They might have succeeded in some points, but failed in others. They think people are stupid. Added to that, people are now aware of the corrupted system. They already have lost faith in the economy system. The method of resorting to media no longer works. Better use another one.

[BaraxLo]

Nothing threatens this bank. Governments kill any thing that can damage the system that's why bitcoin is not a threat

Lol. You have a point but at the same time, I feel the government may not really have much in this case. I know they can go to any length to destroy whatever can have a huge effect on the way things have always been and since cryptocurrency is disrupting the way things have always been done, I am sure that was their target or probably still their target but it has gotten out of what they can do right now since we are talking global here, but let's see how all their plans want to work out.

[Saichoukyushin]

No it is not threatening the Bank of America because with or without crypto it will be threatened. When Trump oppose as the new president of america or on before that USD is totally have a near to collapse its value. Crypto now will be the next best alternative that can be use all over the world in replacing the fiat money.