Banks against the crypto

[devinks]

For a bank to fight crypto, it must be because from the first to the time what banned the crypto was a bank, the problem was that many governments were willing to accept crypto currency well, but the banks often banned it.

[Capt00]

Here is my own opinion about why the banks afraid of crypto. First thing is about the financial system, crypto can save your fiat without depositing on the bank and second is the banking system. If everyone would invest and save their fiat to cryptocurrency banks is nothing and no one who use banks. Indeed, they are afraid that soon cryptocurrency will their biggest competitor when it comes financial and banking system.

[fullhdpixel]

Maybe Bank afraid cryptocurrency because of they are thinking, Cryptocurrency could be alternative of Banks. But I think Banks and cryptocurrency could work together for the economy. Banks also can use blockchain to improve their system. If they do the work together then economic growth could be faster than now.

Banks are definitely afraid of crypto currency because they it affect their profit level and it will expose their flaw but with that aside there's no genuine reason why the banks should see crypto currency as obstacles or barrier because every part of the block chain system is full accountancy system which will ease and improve the productivity of banking system.

I believed this is why IMF Boss advice Central Bank to issue their own national crypto currency.

I think aside the fear of cryptocurrency exposing their flaws and reducing their profit,I don’t see bank ever working with cryptocurrency, I still want to believe some of this banks do not have the proper understanding of cryptocurrency.

Most times they try to liken it to Ponzi scheme because of the returns investors get on their investment which they the bank out of greediness cannot give to their customers; Secondly they see cryptocurrency as a threat. They know that cryptocurrency meets the expectations of everyone and this includes  individuals and organizations so they are afraid this can make cryptocurrency replace them

[South Park]

They might be losing their capability to dominate if they neglect to accept crypto in the future same thing as we store our fiat money or being as a third party. Though the purpose of crypto is not replacing fiat but to give us some options of what we have to used in a certain transactions.
But I'm sure banks will still remain even there is a mass adoption of crypto cause it is getting more safe to stored our money in banks rather than it stay in online wallets, it happens that people will convert cryptos into fiat money and stored in the banks.

This is how banks were able to beat gold and put their fiat in its place, people were unable to secure their gold and then banks offered to keep their coins safe for them and then they began to use fractional reserve banking to increase their profits, if we really want things to change we need to take responsibility of our coins and store them safely ourselves especially since hardware wallets are so cheap, but I do not have high hopes this will happen and so banks will try fractional reserve banking with bitcoin once people give up control of their bitcoins to them.

[Burogh]

Here is my own opinion about why the banks afraid of crypto. First thing is about the financial system, crypto can save your fiat without depositing on the bank and second is the banking system. If everyone would invest and save their fiat to cryptocurrency banks is nothing and no one who use banks. Indeed, they are afraid that soon cryptocurrency will their biggest competitor when it comes financial and banking system.

Cryptocurrency different than banks. Banks already become backbone of our currency economy system and i think bank will survive despite crypto mass adoption happen. Government need banks to boost economic growth and as lending resort, government need banks system

[Leonardo7]

Once a domesticated Carnivorous animal has tasted blood, it will yearn for more. Bankers are just another class of economic cartels, they have tasted the good life, they will forever fight to keep it running. They are certainly going to adjust in order not to be obsolete. One of their leading members JP Morgan has finally agreed that Crypto is the way to go and his initial strong opposition. The rest are secretly watching.

[p2p]

The bankers use politicians to get what they want done. While we are busy theoretically debating if crypto will crush banks, they have boots on the ground carrying out their plan. Check this out.

https://news.bitcoin.com/texas-representative-wants-to-ban-the-anonymous-use-of-cryptocurrency/

As one of the users commented:
"This is not limited to just anonymous cryptocurrencies like Zcash. The way it is written even Bitcoin and Ethereum would be affected. I bet the bill was written by the the Banks and they just gave it to Stephenson to push it. Texas is probably just the testing ground, before something like this is pushed at the federal level. Once this is established in one country, it will be easy for other countries to copy. This bill makes it very clear how the banks plan to attack cryptocurrencies. Everyone in the world who supports cryptocurrencies, must act now to stop this bill.
You may think that these politicians don't know what they are doing and they won't be able to stop anyone determined to use cryptocurrencies since there is no way to enforce it. That's very true, but the problem is that the 90%+ of the people who have not adopted cryptocurrencies yet never will because of this bill. Those who are using crypto will now always remain a minority and over time be looked at more and more suspiciously causing them to leave. Eventually decentralized payment networks created by the people will die out as people leave. This is the beginning of the end for cryptocurrencies, if we just sit back and let this bill pass."

[Indrawan77]

Crypto can't make the bank disappear, and government won't allowed crypto to replace bank, bank is a vital component to the country, it can balance the inflation and maintain the economic situation, if in the future the country want to adopt crypto then, bank need to adjust the system to the crypto, and I think bank should collaborate with crypto to create a better economic system

[MFahad]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Now in this time, it is impossible thing that bank adjust with crypto currency and also sometime banks feel disappearance but banks are more powerful than crypto, because banks and governments are in same place then whenever they announce to ban the crypto in their country. So it is difficult to say in this topic, but may be in future we will see something good or bad about it.

[alisafidel58]

*snip*
Now in this time, it is impossible thing that bank adjust with crypto currency

Actually they are adjusting and experimenting. Here in the Philippines they are have launch a two way crypto atm. Read the article so that your opinion will change about banks adjusting to crypto currency.

and also sometime banks feel disappearance but banks are more powerful than crypto, because banks and governments are in same place then whenever they announce to ban the crypto in their country. So it is difficult to say in this topic, but may be in future we will see something good or bad about it.

We all know that banks are more powerful that crypto currencies. Depending on which country you are living, Government and Bank Associations did put some sanction on crypto currencies such as Bitcoin.

[St4yInTh3D4rk]

They might be losing their capability to dominate if they neglect to accept crypto in the future same thing as we store our fiat money or being as a third party. Though the purpose of crypto is not replacing fiat but to give us some options of what we have to used in a certain transactions.
But I'm sure banks will still remain even there is a mass adoption of crypto cause it is getting more safe to stored our money in banks rather than it stay in online wallets, it happens that people will convert cryptos into fiat money and stored in the banks.

This is how banks were able to beat gold and put their fiat in its place, people were unable to secure their gold and then banks offered to keep their coins safe for them and then they began to use fractional reserve banking to increase their profits, if we really want things to change we need to take responsibility of our coins and store them safely ourselves especially since hardware wallets are so cheap, but I do not have high hopes this will happen and so banks will try fractional reserve banking with bitcoin once people give up control of their bitcoins to them.

We have no reason to give our bitcoins for the banks to keep,if we are doing that means there is no means for decentralization here.

Everything will change,so people also may get changed in the future if we want to be their banks rather than trusting a third party and giving them opportunity to make money for themselves.

[jhongzjhong]

We have no reason to give our bitcoins for the banks to keep,if we are doing that means there is no means for decentralization here.

Why we should give our bitcoin to the bank we have our own wallet that can able to make a transaction in blockchain which is better than the bank. Bank against crypto because they think it is having fraudulent and it is not taxable to the government and they can't earn even a single dollar on it. But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

[St4yInTh3D4rk]

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

[Viscore]

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

But the question is, is it really created to destroy bank?

I guess not, bank still has more adoption compared to crypto and it's impossible to eliminate banks in this world because of crypto, unless people are using crypto as their money for daily transaction.

That scenario is impossible, many will still choose to use paper money and banks produce that.

[andriarto]

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

between banks and crypto have a contradictory system, for now, of course the bank seems to reject crypto to be used as a currency. moreover every user has their own wallet that functions like a bank. but with the development of technology, of course we hope for collaboration between the two in order to walk together

[Vaculin]

between banks and crypto have a contradictory system, for now, of course the bank seems to reject crypto to be used as a currency. moreover every user has their own wallet that functions like a bank. but with the development of technology, of course we hope for collaboration between the two in order to walk together

What system is that?  Banks are centralized but crypto could be.
Crypto is only decentralized when processing transaction but we need to rely on banks to cash out our bitcoins into fiat.
They can work together, banks as specific owners while crypto is just a system, hopefully with crypto we can help bank to be more transparent
as we all know that crypto is 100% transparent.

[BeGoods]

Cryptocurrency can have partnership with banks, i never think that banks will disappear in the future, I just think possible partnerships might happen, and when this time come this will be great for everyone

Exactly! People need to step up and live in reality.  The bank can't go away. To say that the bank will disappear this means or saying that Fiat will disappear also and it's impossible!  
Just like we have exchanges where we sometimes store cryptos (not advisable though)  and trade cryptos, we have the bank.  They can only hope that the two works in hand.

Right, I think we should leave that kind of thought, fiat that you use every day and we are very dependent on fiat, regulated and controlled by the central Bank. how can the bank disappear while we really need fiat? in fact, the bank can work partnership with crypto right?

[St4yInTh3D4rk]

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

But the question is, is it really created to destroy bank?

I guess not, bank still has more adoption compared to crypto and it's impossible to eliminate banks in this world because of crypto, unless people are using crypto as their money for daily transaction.

That scenario is impossible, many will still choose to use paper money and banks produce that.

IMO,the cryptos were created to eliminate third part while doing transactions so yes it was created to eliminate banks.

Banks also created few centuries ago,before that there were different kind of payment system we had so the chances of replacing the current system with the new also possible.Many people uses banks but they they have no need for that the banks will eventually get disappear.

[michellee]

Crypto can't make the bank disappear, and government won't allowed crypto to replace bank, bank is a vital component to the country, it can balance the inflation and maintain the economic situation, if in the future the country want to adopt crypto then, bank need to adjust the system to the crypto, and I think bank should collaborate with crypto to create a better economic system

Yes, that is right. I only think that the banks will integrate their banking system with crypto so they can give more value to the member and they can serve the member with better services. With all connected with crypto, it will bring a new step for the banking itself because they don't have to make a complicated report in their system and all they need is to check in the blockchain and to match the report with the transaction.

[Stavri]

yeah. crypto and blockchain based currencies have started to become a very good alternative to traditional banking and financial items. I am sure crypto will become more powerful against banks day by day.