In the early days of the internet, fax companies were quick to label email as a risky technology. They argued that email was unreliable, insecure, and could not be trusted to deliver important documents. Fast forward to today, and we are seeing a similar situation with banks and cryptocurrency.
Banks are labeling cryptocurrency as a risky investment, citing its volatility, lack of regulation, and potential for fraud. They argue that cryptocurrency is too risky for the average investor and should be avoided. However, this is analogous to fax companies labeling email as risky in the early days of the internet.
Just like email, cryptocurrency is a revolutionary technology that has the potential to revolutionize the way we transact and store value. It is secure, reliable, and can be trusted to deliver important documents. Furthermore, it is becoming increasingly regulated, making it a safer investment than ever before.
The truth is that banks labeling cryptocurrency as risky is nothing more than a fear-mongering tactic. They are trying to protect their own interests by discouraging people from investing in cryptocurrency. However, just like email, cryptocurrency is here to stay and will continue to grow in popularity.
So, the next time you hear a bank labeling cryptocurrency as risky, remember that it is analogous to fax companies labeling email as risky in the early days of the internet. Cryptocurrency is a revolutionary technology that has the potential to revolutionize the way we transact and store value. It is secure, reliable, and increasingly regulated, making it a safer investment than ever before.
45 thoughts on “Comparing Banks’ Perception of Cryptocurrency to Fax Companies’ Perception of Email”
Yeah, exactly. Crypto is a risk for banks to run their scammy business.
Well, fax dissappear but banks don’t have to. They’re scared of losing money and power.
Obviously their going to say their biggest treat is risky
Banks are done… without all the politic power they have they would disappear quickly…
Email is risky.
I once sent an email to the wrong address and lost all my words!
Plot twist; email is risky!
Aren’t banks riskier nowadays? such a shitcom.
>Crypto is a threat to their survival
>Banks have actually begun to collaborate.
In can promise you one thing , they’ll loose no matter what they do.
*Banks are based on trust , Crypto is based on Proof* . People have started to ask for proof !
In fairness to faxes, there were dangers with email, not the least of which were scams. But yeah, totally agree this type of fud against emerging tech is nothing new. Their were probably people who wouldn’t own a telephone because of danger. People didn’t want microwave oven because “radiation”. People burned down 5G mast because…was it COVID, which simultaneously wasn’t real but somehow could be transmitted by radiowave?
Banks are in total survival mode and will do anything to retain their precious fiat
Its funny because while it is a threath to their current business model, the bank that will adapt it will profit so much. They are in such a great position to profit from crypto boom.
SVB says hello
Banks are falling like dominos. People are panicking and now they try everything to keep their customers! In fact they want to keep **control**. That’s why they FUD crypto so much because they don’t like that people are their own bank!
Banks in UK are also getting more strict for even buying Crypto, most of my banks now don’t support it only a couple left.
Now it is a official moment of “Not your bank not your money”. I wonder why some banks not allowing anything related about crypto and yet sport gambling site is okay.
Yes I mean isn’t this the obvious situation since like 2012 when bitcoiners really started getting louder?
It’s absolutely risky. It risks the health of old world banking.
Basically old tech warning everyone about the new and improved model.
“Hey everyone,watch out for those new Teslas, better stay away from them they could break at anytime” I tell from my beat up 84 Carolla lol
Banks know that they are even riskier with fractional reserves, but the trick is to not look risky in front of the public.
2008 gave us a glimpse of the riksy nature of banks. SBV, CS are going to finish what 2008 started
But if not for email, how would all the Nigerian princes inform y’all of their amazing opportunities?
I like it when they fear, since they deserve it for all that they’ve been doing. Their evil tactics are so freaking obnoxious.
Did we meet at the casino last night ?
Crypto is risky, for banks
It’s a definite risk to them and their monopoly
Banks are just paranoid their monopoly will come crumbling down. Luddites, the lot of them.
The difference here is that banks have massive and overwhelming power and influence they will leverage to try and maintain their position, that Fax companies didn’t have.
I like your analogy. Seems on point to me. Also, let’s everybody always remember that the banks have carved themselves out a nice scam of controlling all the fiat. Anything that challenges their footholding in fiat they will challenge.
Plot twist: banks are risky
You’ve got to bash the competition somehow. It’s like “traditional” car companies saying EVs are risky and dangerous.
This is like robbers are saying, police isn’t safe for public.
Aren’t they already adopting/adopted a quasi crypto solution with Ripple(xrp)? All the benefits with none of the publicness?
Banks would be risky as fcuk if they didn’t have the benefit of a government bailout every time they go to sh!t
Bullish on Email
I don’t get why these discussions keep on going.. It is not a zero sum game.
Banks, central and retail, won’t disappear because of the creation of cryptocurrencies.
They’ll work together in the future, in symbiosis.
Soft drink industry: water is risky!
It is risky but we work for money which we should be able to invest how we want including outside the current system.
Banks in Portugal are getting more strict related to crypto. They don’t want to give services related to crypto because they knew crypto as their threat. Some cases I have seen that they don’t want to open bank account too who are crypto guys. But we don’t give a fuck to those banks. They are already scared.
Everytime a bank goes belly up, BTC goes up.
People are realizing more each day that they need to protect their money, not believe in banks.
I once received a scam email, so now I’m back to sending my mail via pigeon carrier, much better
It’s interesting to see banks panick like that.
So people can gamble their life saving away but can put 50 bucks into crypto?
Landline phone providers saying cell phones are risky.
Gas companies saying EVs are risky.
Oil industry saying solar/wind/nuclear are risky.
Paper company saying computers are risky.
I really like this analogy. Kodak comes to mind when they ignored digital photography compared to 35mm film and thought the ‘instant camera’ would win over digitals
I remember the dying years of the fax machine…late 90s…when the only things of our office machine would be timeshare pitches and cruise package “deals”.
Fucking spammers figured out fax machines.
The healthcare industry still uses an eFax protocol but I’m hoping it’s a little more secure than old paper faxes…
Luckily the past months has weakened their narrative by a lot.
Wish I was in Portugal by the way. Love your government’s approach to crypto (investors)
I’m hoping this episode forces banks to adopt less predatory practices and policies. Eliminate the old guard and adopt more innovation that benefit customers.
A man can dream right?