Quote from: zeaderza on July 26, 2018, 07:37:31 AM

Quote from: BitcoinCommodor on July 21, 2018, 07:38:45 AM

Quote from: chickenfried12 on October 13, 2017, 12:49:23 AM

There was a time where Bitcoin was not even on the radar, it was a novel idea that was primarily used by thieves and drug dealers on the dark web. Nothing to be afraid of in terms of holding a monopoly on money.

However, that same little upstart is now disrupting the system of things; from Bitcoin and other cryptocurrencies, ICOs and the ever impressive Blockchain technology. This is now a legitimate threat on traditional banks.

Banks have existed unchallenged for hundreds of years, and that is the key issue here; Bitcoin, backed by a solid platform such as Blockchain technology, is a ghost that is incredibly hard to control due to its decentralized nature.

The power and control of money is being ripped away from traditional institutions, which can also be seen on Wall Street. Some of these traditional investors are siding with what could be the future, while others vehemently denounce it.

Individuals can now enter into direct peer-to-peer trusted exchanges with strangers. They no longer need a central institution to vouch for the other party.

Just like the fax machine, the library, even metered taxis, new technologies have come along and made others obsolete. Banks are now in the sights of Bitcoin and are in their death throws, as they lash out with the power of states behind them.

However, theres no stopping progress, and even with state-backed regulations trying to wrestle the money of the people under control, banks have every reason to be nervous.

Full news https://www.cointelegraph.com/news/why-big-banks-are-so-nervous-about-bitcoin

Which banks exactly? You didnt mention the bank that is scared of Bitcoin. No bank is scared of Bitcoin, its just some bunch of stupid idiots that knows nothing that keeps on saying this sort of thing about Banks being scared if Bitcoin. If you bank prevent you from moving money you have in crypto to your bank account then you have serious problem. Everything that has to do with money will always end in bank. So tell me how banks are afraid of Bitcoin? Hmph 😕

The biggest issue these banks have got is insecurity that bitcoin is creating against these banks. Those people who are using bitcoin dont want to save tether money in banks. They dont need to make anything in banks because all of their assets and information are secured in wallets. So these banks are little bit confused that what to do to remit this bitcoin from field.

After some years, when there will be more awareness regarding bitcoin and other digital currencies in the international market, then people will stop using the regular currencies and that they will go for investing and holding of the crypto currencies which will then remove the need of banking system and that this will put the survival of the banks in danger because of which the banks are not happy with the crypto coins.