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Author Topic: Banks against the crypto  (Read 5863 times)
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May 10, 2019, 09:31:49 PM
 #341

If transactions in cryptocurrencies are finally approved it would not really get banks out of the word but it would rather reduce their activities as most people would use cryptocurrencies to make transactions.
In fact, the banking system is part of the state, so there is nothing for banks to fear. They will even exist if they do not use blockchein technology. However, banks themselves are striving to improve their performance and replace their outdated SWIFT method with blockchein technology to improve the speed and reliability of their transactions in order to increase their profits.

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May 12, 2019, 11:38:28 PM
 #342

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.
If crypto payments were adopted all over the world then the service from the banks will no longer needed so they are not going to support the cryptos existence and also governments won't like it because banks are the one making economy of a government if there are no banks then that country might suffer for the funds.
Crypto currency as payment is being use since long it is acceptable people are now investing more crypto currency more than banks because keeping your money in banks are just useless because the more you keep it just get rusted, but investing in crypto currency gives profit and with this your money increases, it makes profit and makes our life better with facilities.

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May 13, 2019, 03:57:56 AM
 #343

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.
If crypto payments were adopted all over the world then the service from the banks will no longer needed so they are not going to support the cryptos existence and also governments won't like it because banks are the one making economy of a government if there are no banks then that country might suffer for the funds.
Crypto currency as payment is being use since long it is acceptable people are now investing more crypto currency more than banks because keeping your money in banks are just useless because the more you keep it just get rusted, but investing in crypto currency gives profit and with this your money increases, it makes profit and makes our life better with facilities.

especially by using a cryptocurrency wallet, we feel we don't need a bank, because we have our own asset storage, but what is clear to me is that the government still does not agree with the decentralization system, and as if the bank is being cornered

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May 17, 2019, 08:56:42 PM
 #344

In fact, the banking system is part of the state, so there is nothing for banks to fear. They will even exist if they do not use blockchein technology. However, banks themselves are striving to improve their performance and replace their outdated SWIFT method with blockchein technology to improve the speed and reliability of their transactions in order to increase their profits.

One thing for sure is that Banks are always one step ahead of everything in the world of finance. They may be against crypto itself, but they're not against the underlying technology called the Blockchain. Given how beneficial Blockchain is to reduce costs and improve efficiency, Banks and governments have been studying this trend more thoroughly. We've seen how most Banks have partnered with Ripple in order to improve the payments industry.

It should only be a matter of time before Banks obtain all the benefits inherent within most cryptocurrencies we know and love today (except decentralization, of course). Even if they don't upgrade their system towards the Blockchain, they'll survive for a long time because governments are backing them (not to mention that people still trust these financial institutions).

Nonetheless, as crypto becomes more valuable and prominent in the mainstream world, Banks will envy their progress. Despite these facts, Blockchain technology will be a part of our lives in nearly everything we do within the future. Just my thoughts Grin


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June 05, 2019, 05:23:14 AM
 #345

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?
In any case, the banks due to the appearance of cryptocurrency will not disappear anywhere. They will work in their normal mode and will not experience any discomfort due to cryptocurrency. Yes, they will use the ripple blockchain network technology to increase the efficiency of their work, and will also provide some services in the cryptocurrency, if it benefits them. Why it can lead to their disappearance? There will always be a demand for their usual services. In addition, they will always serve the majority of enterprises and provide financial services to the economy of each state, which will always protect the interests of banks.

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June 05, 2019, 12:30:20 PM
 #346

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.

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June 05, 2019, 01:36:01 PM
 #347

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.
Right now the usage of banks were very big, this is not due to the technology that has made things possible. What we find with banks is fulfillment of people's need. As things get advanced people expect much more from the banking services which at times looks like an impossible thing. Now the same is being found successful through bitcoin and the technology that drives it forward. This makes banks have a opposition against bitcoin. More banks have begun to use the technology of bitcoin which makes the banking services function same as cryptocurrencies.

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June 05, 2019, 02:09:14 PM
 #348

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?

It is difficult to say that cryptocurrency can lead to disappearance of banks when technology behind cryptocurrency is still in the early stages of development, and most of the bank's business requires more advanced technology.

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June 05, 2019, 03:57:51 PM
 #349

i think both will still be there, not about decentralized or power of bank,they will coexist not to defeat each other.
they will help to lead a better future, i think that wrong if you compare it.

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June 05, 2019, 04:02:56 PM
 #350

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?
I believe bank are started to think to manage crypto custody, i believe they started to realize the use of cryptocurrency in the economy. I do think they will adjust and bank would not going to die.

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June 05, 2019, 04:54:06 PM
 #351

Banks always want to maintain their repatriation in the market. And the bank knows that many users in the Bitcoin market will want to join the Bitcoin and leave the Bank.And the bank cannot be more solid and secure on any day, so the bank does not want bitcoin in the market. !!
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June 05, 2019, 10:31:51 PM
 #352

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.
I think the bank and the government really think that the bank and the financial system first developed and in my opinion all possibilities can occur along with the development and technology and the development of crypto currencies depends on the intention and purpose of use of course







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June 05, 2019, 11:14:56 PM
 #353

Banks always want to maintain their repatriation in the market. And the bank knows that many users in the Bitcoin market will want to join the Bitcoin and leave the Bank.And the bank cannot be more solid and secure on any day, so the bank does not want bitcoin in the market. !!
Though they know that there is a huge market adoption towards crypto but they know already that people will still be using with their services anytime. Banks aren't actually against crypto, indeed, they are trying to adopt the system and make benefits by then. Banks will still remain of what have started and just open for another room for cypto adoption and not by closing the opportunity given with to the community.

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June 05, 2019, 11:56:43 PM
 #354

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.

Bitcoin is more advanced than Banks, that is the reason they are scared of it. I think the "advanced" you are talking about is the use of Banks, well it has the upper hand when it comes to that. Also, cryptocurrencies are not competing with the banks, the banks are the one scared of what might Bitcoin do in the future, well as I said it is more advanced than banks.

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June 06, 2019, 12:46:38 AM
 #355

Banks and crypto work on two opposing principles thus centralization and decentralization respectively. Crypto is decentralized which gives the power back to the people, thus the people assume control over their own financial transactions without any interruption from middle men like what the banks. The banks fear crypto will cause a major disruption in their workings.

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June 06, 2019, 04:33:25 AM
 #356

Banks and crypto work on two opposing principles thus centralization and decentralization respectively.
Indeed, you can add, banks are fully regulated, while crypto is lack of regulation.

Crypto is decentralized which gives the power back to the people, thus the people assume control over their own financial transactions without any interruption from middle men like what the banks.
That's the thing we like to promote with the advent of crypto, but the government won't allow that power to be given to us fully as they know the risk is higher in crypto, it will increase the scams and the money laundering, and other illegal activities.

The banks fear crypto will cause a major disruption in their workings.
I disagree, crypto can't beat banks, they will not fear as the government is on their side.




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June 06, 2019, 04:50:29 AM
 #357

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.

Bitcoin is more advanced than Banks, that is the reason they are scared of it. I think the "advanced" you are talking about is the use of Banks, well it has the upper hand when it comes to that. Also, cryptocurrencies are not competing with the banks, the banks are the one scared of what might Bitcoin do in the future, well as I said it is more advanced than banks.
the bank has been in its comfort period for years. until there is a bitcoin with a system that is contrary to the bank. so it is not surprising if the bank develops a strategy to continue to play a role. but above the bank there are still governments that hold all roles

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June 06, 2019, 04:58:23 AM
 #358

For me I dout my eye like this the bank will disappearance lol
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