Banks will always be against cryptocurrencies?

[signalbitbot]

The bank will accept cryptocurrency in future
This is the control of people...the bank knows the data of a person

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[Sumo]

I think it all depends on the country. If the government accepts bitcoin and will develop it, the banks will have nothing left but to adjust to the innovations.

[KAPOORSHAH]

What happens when you slip into your overdraft on one account but are in credit on another? Do they aggregate? No. Despite you not being in debt to the bank but one ledger being in overdraft, you get a whopping overdraft fee.

So what do we need banks for? Mortgage? Nope, we can go to any mortgage provider for that? Loans? Nope, we can go to any loan provider for that. We can buy any financial service we want from any provider.

We need banks to hold out fiat and for buying things, and this is the threat:

    If we keep our savings in Crypto, then the banks have a smaller pool of money to lend from
    If we buy things using Crypto, the banks are making less money on debit fees

Every financial service we use Crypto for, we are taking a service away from the banks. And beyond fancy new mobile-only banks and biscuits for your dogs at Metro, nothing in banking has been disrupted. Until now.

But can Crypto take on the role of the bank? Yes, and here is why using Bitcoin as the primary example.

[Lazada]

No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.

Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.

Banks are still waiting for the government's response to cryptocurrencies. Because the Bank is actually very happy if banks can utilize blockchain technology and also use of coins. This is like a regulation that has never been made, so the importance of a regulation is to guard and guarantee that some parties want to utilize cryptocurrencies in full. We must continue to put pressure on the government to immediately implement cryptocurrencies in the financial system.

[fattyforhire]

I don't see the Bank and bitcoin as rivals. If the state does accept cryptocurrency, bitcoin will be a great addition to the banking system and will greatly simplify and protect it.

[drukoz2]

Banks may resist cryptocurrency, but eventually they will realize that it will only make the functioning of the banking system more convenient. And most importantly, bitcoin will significantly increase security, which can not but rejoice.

[Vritesh]

Banks will always be against cryptocurrencies because they want their monopoly control in the market. Bitcoin is of great potential and people are adopting crypto over banks. So banks are insecured as they will no longer be able to be the head of the marking league.

[eann014]

No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.

Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.

Yes, banks are really not against cryptocurrencies, Banks have their own strategy to get profited and gain income, cryptocurrencies are just added to our currencies out there and they can also use cryptocurrencies to gain additional profit.

[pinkpanther03]

No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.

Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.

I beg to disagreed on you statement pal, because here in my country we have one bank here who are accepting digital currency/bitcoin in a way of online transaction. when I heard and read it in the newspaper here I was so happy. Meaning, time will come that banks in the entire world will also adapt the system of crypto currency, and lets wait on to that matter anyway.

[Taya Afi]

Large US banks, including Bank of America Corp, are very afraid of Bitcoin (Bitcoin). The growing popularity of crypto-currencies poses a threat to financial institutions.

The spread of digital money is undesirable for banks, given their current problems, which they have faced recently. Speech, first of all, is about low demand for loans, lower profits due to lower interest rates and fading hopes for deregulation.

The negative attitude of banks to the crypto currency is gradually beginning to manifest itself in the open. Suffice it to recall the harsh criticism of Bitcoin by JPMorgan Chase CEO Jamie Dimon.

What is the threat from Bitcoin?
The idea that Bitcoin could threaten traditional banking institutions, sounded in an interview with the American television channel CNBC executive director of the investment organization Taurus Wealth Advisors Rainer Michael Preuss.

He believes that crypto-currencies such as Bitcoin have a certain appeal, given the lack of transparency in the banking system. As an example, he cited the Federal Reserve's refusal to host an independent audit.

In contrast, blockchain technology registers each transaction and gives users a complete overview of all the movements of funds on the network. Moreover, he is sure that digital coins are able to offer a so-called "system hedge" against inflation of asset prices and to deprive banks of some functions.

[Leyss]

Banks will actively resist the introduction of crypto currency only until it is legalized by the state. As soon as this happens, it will be pointless for banks to do this because simultaneously with legalization state-owned banks will receive instructions from relevant state authorities about what services can or should be provided in the crypto currency. Apparently, for commercial banks this information will have an advisory nature. Now there are scattered reports that some banks have already begun to accept crypto currency.

[Falmera]

No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.

Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.

I think banks are against crypto currency. Maybe some have negative comments or reaction to crypto currency because they do not really know what crypt is.

[Allura74]

Banks will actively resist the introduction of crypto currency only until it is legalized by the state. As soon as this happens, it will be pointless for banks to do this because simultaneously with legalization state-owned banks will receive instructions from relevant state authorities about what services can or should be provided in the crypto currency. Apparently, for commercial banks this information will have an advisory nature. Now there are scattered reports that some banks have already begun to accept crypto currency.

Yes, because the world is now changing from traditional transaction into electronics and that is the trend and direction for the world's of humanity, technology is escalating to make every people's life at ease and with this massive adaptation of crypto currency more people choose to invest crypto than bank because the fact that its more profitable than those small percentage at the bank.

[IndigoRed]

There are many reasons why banks can fear bitcoin. One, the size of crypto market exceeds large banks. Two, cryptocurrency value is increasing. Three, there’s the decentralized nature of crypto and four, crypto is a new technology that cannot be ignored. In the future, fiat controlled by bankers will surely change. According to most analysts, cryptocurrency will be the new way of buying and exchanging products and services. Do you think the world is ready to go cashless, though?

[Angelaperry]

I don't think that banks will always be against cryptocurrency. It seems to me that banks will soon accept bitcoin in near future

[Verde_Mantis]

In my opinion all those banks that simply will keep being against bitcoin, against cryptocurrency etc, they seriously risk to go out of business. The world is changing, and if you don't change and adapt as well you're out.

[Dobrodav]

ya. they just like blockchain technology but not crypto. banks doesn't like anything they can't control. but they know blockchain is good better than SWIFT

[Nylelyn]

Banks are institutions that have long been established as early as the development of mankind. And I believe that banks at this point will not regard bitcoin as something that will threaten their very nature. However it is agreeable that bitcoins growing popularity cannot be denied due to many benefits that it brought to its investor/user. And this is the good thing about bitcoin, it is an investment avenue that introduce us to innovative ways of earning money and enjoying life having a virtual currency. I believe in the future bitcoin will have even more uses and banks will incorporate bitcoin into their services as well to cater more clients.

[arthotdog]

No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.

Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.

ofcourse you must not agree on that because banks now are adapting crypto technology.theres some threads now that tackling about the adapting that’s happening from banks to crypto

Bankers are greed and they will not allow profits gone unto them so they will do everything to achieve this.and thats the motive behind banks

[Masongrae]

If the banks will go against cryptocurrencies, how will they gain more people to join their bank? Later on they will lose people and close their banks because people are into cryptocurrency. I believe they will make way to eventually incorporate cryptocurrency in their banks because they cannot afford to lose also their investors.