Banks are anti-bitcoin because they are scared that bitcoin becomes popular,more people will be investing. Soon when everybody is using it, that fiat will becomes useless and there will be no more manipulation of peoples funds,their jobs will be lost and they will have less right to use peoples funds for business. They are scared of bitcoin volatile nature,since it is a valuable assets like gold
Banks are like exchanges who are self centred and will lie to deceive the people that they are reliable and trusted to keep your funds. So they will tell the people stories that will panic them not to invest in bitcoin as if they are bitcoin experts.
Topic: Banks do not want bitcoin to become popular - page 2. (Read 987 times)
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This is the whole point, why many banks that operate in a traditional way will never like bitcoin. Normal Banks lend out money that they do not have, because the laws allow them to do it. With bitcoin this is not possible. There is a fixed amount and you can not just send somebody bitcoins that you created on paper. At least if you do that people will see it instantly and will not accept them or want a discount.
This is the whole point, why many banks that operate in a traditional way will never like bitcoin. Normal Banks lend out money that they do not have, because the laws allow them to do it. With bitcoin this is not possible. There is a fixed amount and you can not just send somebody bitcoins that you created on paper. At least if you do that people will see it instantly and will not accept them or want a discount.
There's simply no need for a traditional bank when dealing with Bitcoin.
It's just peer to peer, direct transfer of money, anywhere in the world, with low fees.
Why on earth would you need a bank for?
You don't need to ask permission to open an account, you don't need to ask permission to use your money, etc.
Bitcoin really is revolutionary, yet most people are so used to the legacy banking system that they don't see how much better Bitcoin is.
But unfortunately, you and I still live in a centralized world run by governments; fiat and banks still dominate the financial markets. You will still need a bank because all your daily spending is fiat, you need banks and exchanges to convert your bitcoins to fiat. Bitcoin is a revolution, it is very good, but it cannot replace or compare with banks, banks provide us with many services. Similarly, why do we still need exchanges today even though they are centralized like traditional banks? Both are necessary for us, I will be happy to see both coexist and support our life more perfectly.
There are banks and banks. Some are fully against Bitcoin, while others may embrace it, and take advantage of the digital currency. Actually, I don't see a lot of rage from banks against Bitcoin anymore these days, like they used to be years ago. I think things are walking to a mutual path between banks and Bitcoin. They have only to win with BTC investments. So there is no reason they take this rivality ahead.
The reason why the banks are not allowing bitcoin anymore because they think bitcoin is like taking away there business and it trying to take control of the world business investment areas.
The bank see bitcoin as a source of people make twice of there investment income and twice of what the bank do give out when you invest in the bank. This has make big and great business men and women go into bitcoin because it double there investent income but bank don't, and the fine bitcoin as a very good platform of making investments and the banks don't want to lose there business so the best way for them is to stop bitcoin investment.
The bank see bitcoin as a source of people make twice of there investment income and twice of what the bank do give out when you invest in the bank. This has make big and great business men and women go into bitcoin because it double there investent income but bank don't, and the fine bitcoin as a very good platform of making investments and the banks don't want to lose there business so the best way for them is to stop bitcoin investment.
From the inception of bitcoin Banks were never friendly with it particularly with it decentralized system and control it rather give to the owner of the coin's as against how the banking system operates and this obviously has made them the owners of banks are on daily basis declining in profit as bitcoin is gaining more and more acceptance by many for financial transactions and investment. In my home country the banks nocturnally aided in misinforming the government about cryptocurrency which led to it's ban for many years now, but there are rumours that the government are planning of making some adjustments to the ban.
The banks are always there to credit statements and predictions to deter people from further investing in bitcoin and other cryptocurrencies, but for those that understands very well about the system this statement won't be taken into account cause the bear market won't be here forever.
The banks are always there to credit statements and predictions to deter people from further investing in bitcoin and other cryptocurrencies, but for those that understands very well about the system this statement won't be taken into account cause the bear market won't be here forever.
The feud between the bank and bitcoin has heightened but in all, bitcoin does not feel perturbed as it is the people's choice. The bank knows in time to come, they would be off the track meaning that nobody would want to have anything much to do with them so they are going at any length and cost to discourage the people and government from dealing on bitcoin and crypto currency. The competition is very high but I know for sure the massive adoption is gradually taking effect. People have started seeing the benefits of holding bitcoin, the importance attached to it as well. These they have seen would speak for itself giving bitcoin a good edge over the existence of bank. I am happy that the government are now eyes opened seeing the importance of bitcoin to the community or society as the case maybe. This would make the implementation and adoption of bitcoin scale through smoothly in their nation as there would not be any challenges as it has already spoke and it is speaking for itself for now and generation to come.
Banks and Bitcoin have a competitive relationship. There are already some countries accepting Bitcoin, and more and more people are beginning to understand and use it. If bitcoin becomes more popular, banks worry that people will invest their money in bitcoin instead of depositing it in the bank. This will be detrimental to the development of their business and reduce their income.
I'm not so sure about this sentiment.
For example, the BIS (Bank for International Settlements), which is basically the Central Bank of Central Banks, recently published a document stating that they will allow Central Banks to have up to 2% of their reserves in Bitcoin, starting from 2025.
Here you can read the official release directly from BIS: https://www.bis.org/bcbs/publ/d545.pdf
For example, the BIS (Bank for International Settlements), which is basically the Central Bank of Central Banks, recently published a document stating that they will allow Central Banks to have up to 2% of their reserves in Bitcoin, starting from 2025.
The Bank for International Settlements' (BIS) Basel Committee on Banking Supervision has finalized a proposed policy that would place a 2% limit on banks' Tier 1 capital held in bitcoin.
Here you can read the official release directly from BIS: https://www.bis.org/bcbs/publ/d545.pdf
we all know that banks don't like cryptocurrencies and bitcoin, and they have started to feel that their throne is starting to shake. bitcoin is an unexpected competitor for them. they have always been familiar with interbank competition, but bitcoin fundamentally threatens the banking sector. of course there are people who make money from the banking sector, and these people want to maintain their status somehow. spreading unfounded speculation is one of their mechanisms to maintain their status. this is not something they can avoid anymore. no matter how big the storm is, it can only take dust from the rock
Bitcoin is the biggest bank rival at the moment, if Bitcoin becomes more popular and widely used for long-term asset investments, of course banks will experience financial difficulties. Currently, the Bank's income is almost entirely from customer saving, if one day the customer prioritizes saving money in the form of Bitcoin, of course the Bank will experience financial difficulties and will have a bad impact on the bank's financial condition in the future.
Until now there are still many countries that do not want Bitcoin as legal transaction, this can have bad impact on bank consistency if Bitcoin has become legal currency.
Banks and Bitcoin are in a competitive relationship, and Bitcoin is the biggest competitor of banks. Bitcoin is decentralized, there is no control over the assets, and now more and more people prefer cryptocurrencies and keep their money in their wallets instead of banks. Banks want to control the money, and the advent of Bitcoin took away the power of the banks over the people, and they gradually lost customers and revenue. Until now there are still many countries that do not want Bitcoin as legal transaction, this can have bad impact on bank consistency if Bitcoin has become legal currency.
~snip~
This is the whole point, why many banks that operate in a traditional way will never like bitcoin. Normal Banks lend out money that they do not have, because the laws allow them to do it. With bitcoin this is not possible. There is a fixed amount and you can not just send somebody bitcoins that you created on paper. At least if you do that people will see it instantly and will not accept them or want a discount.
This is the whole point, why many banks that operate in a traditional way will never like bitcoin. Normal Banks lend out money that they do not have, because the laws allow them to do it. With bitcoin this is not possible. There is a fixed amount and you can not just send somebody bitcoins that you created on paper. At least if you do that people will see it instantly and will not accept them or want a discount.
There's simply no need for a traditional bank when dealing with Bitcoin.
It's just peer to peer, direct transfer of money, anywhere in the world, with low fees.
Why on earth would you need a bank for?
You don't need to ask permission to open an account, you don't need to ask permission to use your money, etc.
Bitcoin really is revolutionary, yet most people are so used to the legacy banking system that they don't see how much better Bitcoin is.
From the inception of bitcoin Banks were never friendly with it particularly with it decentralized system
This is the whole point, why many banks that operate in a traditional way will never like bitcoin. Normal Banks lend out money that they do not have, because the laws allow them to do it. With bitcoin this is not possible. There is a fixed amount and you can not just send somebody bitcoins that you created on paper. At least if you do that people will see it instantly and will not accept them or want a discount.
From the inception of bitcoin Banks were never friendly with it particularly with it decentralized system and control it rather give to the owner of the coin's as against how the banking system operates and this obviously has made them the owners of banks are on daily basis declining in profit as bitcoin is gaining more and more acceptance by many for financial transactions and investment. In my home country the banks nocturnally aided in misinforming the government about cryptocurrency which led to it's ban for many years now, but there are rumours that the government are planning of making some adjustments to the ban.
The banks are always there to credit statements and predictions to deter people from further investing in bitcoin and other cryptocurrencies, but for those that understands very well about the system this statement won't be taken into account cause the bear market won't be here forever.
The banks are always there to credit statements and predictions to deter people from further investing in bitcoin and other cryptocurrencies, but for those that understands very well about the system this statement won't be taken into account cause the bear market won't be here forever.
I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 
They are just trying to get weak hands to sell off their portfolio and they are going to buy BTC. The rich want to be richer. We know the gimmicks. lol
Whenever you hear something like this, then start accumulating.
Everything else is the noise and normal narrative. Ignore the noise. Now go out and enjoy your life.
I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin.
Looks like Standard Chartered banks is just trying to get in on the Bitcoin bashing we have seen over the last few weeks. The FTX disaster dealt a big blow to the crypto community and resulted in a loss of confidence in the crypto markets. It's going to take weeks for the bitcoin price to recover again. But as long as we are in the 16-17k USD range I would not worry about any such bad news from banks. It's clear that banks feel threatened from bitcoins because they will take away a large part of their business. Dealing in multiple currency is a lucrative business for banks as they can collect a lot of fees when buying and selling the same currencies over and over again. Before cryptos the consumer had no real alternative, we could only consider switching to a different who would charge is the exact same fees. Now with cryptos we can finally be independent of banks and that is was making them afraid. When it comes to forecasting the bitcoin price I would not be trusting any bank, they have their own agenda.
Although cryptocurrencies are becoming more and more popular, banks are not very accepting of cryptocurrencies. Banks are not very willing to take on the risks of cryptocurrencies.
But when the cryptocurrency economy threatens banks, the country may issue some "laws and regulations" to protect its economy.
But when the cryptocurrency economy threatens banks, the country may issue some "laws and regulations" to protect its economy.
It's no wonder that Central Banks, and therefore governments, don't want Bitcoin to succeed.
With fiat currency they have absolute control of the economy. With Bitcoin, they no longer are able to control money.
There will always be fiat currencies, but Bitcoin will continue to exist as well.
Just like we have cash and cards, in the future we will also be able to pay with Bitcoin as a third method of payment.
With fiat currency they have absolute control of the economy. With Bitcoin, they no longer are able to control money.
There will always be fiat currencies, but Bitcoin will continue to exist as well.
Just like we have cash and cards, in the future we will also be able to pay with Bitcoin as a third method of payment.
That is also what I want with bitcoin, bitcoin cannot wholly replace fiat or banking, but it will become the 3rd payment method in the world next to fiat. Bitcoin does not need to be the only currency or to completely replace the banking system, with that mindset only making the battle between banks and bitcoin more serious. In the long run, I think it will not benefit bitcoin. We can't go against the government, there won't be a coup, and that's not the way to bring peace to the world.
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They are interested in bitcoin not because it is the leading cryptocurrency or affecting the rest of the market but simply because bitcoin is decentralized, if people use bitcoin, they will leave the bank.
You are implying Bitcoin is the only decentralized cryptocurrency, which depending whom you ask some people will agree or disagree. I am sure I have seem some ETH users claiming the Merge was not a big deal for the decentralization of their chain.
I am sure, however, Bitcoin remains decentralized and that is what matters for the purpose of this thread.
But I just assume there are other projects with a correct software implementation for people to have proper power over their alt-coins, but unfortunately their chain lacks enough harsh-power for it to remain truly safe from attacks.
I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin.
https://i.imgur.com/06rcklo.jpg
There is no doubt about it. Bitcoin itself is a decentralized digital currency that can get rid of banks and conduct peer-to-peer transactions directly. If I take your job away, aren't you in a hurry? The reason why the bank said this is nothing more than one purpose, hoping that Bitcoin will become history. Now that such a point of view is published to create panic and make everyone return to the newcomers to the bank, the business volume will naturally grow rapidly. This is also the struggle between traditional finance and decentralized finance. https://i.imgur.com/06rcklo.jpg
It's no wonder that Central Banks, and therefore governments, don't want Bitcoin to succeed.
With fiat currency they have absolute control of the economy. With Bitcoin, they no longer are able to control money.
There will always be fiat currencies, but Bitcoin will continue to exist as well.
Just like we have cash and cards, in the future we will also be able to pay with Bitcoin as a third method of payment.
With fiat currency they have absolute control of the economy. With Bitcoin, they no longer are able to control money.
There will always be fiat currencies, but Bitcoin will continue to exist as well.
Just like we have cash and cards, in the future we will also be able to pay with Bitcoin as a third method of payment.
Yes, you are right the banks do not want to become papular because if all the people start putting their investments in crypto wallets and crypto exchanges they will lose their customers who save money in their banks.
No matter how they try to spin it, banks are in business also. And without customer funds, they’re just an empty building with a vault in it. Banks need customer funds to survive and stay afloat. They do business and also invest, all with customer funds and assets.
With bitcoin, it entails securing and holding our funds ourselves and banks can’t have none of that. Why hold your funds yourself when you could give banks to hold them at a price?
It’s great to be the sole custodian of your assets and investments and that is why you should never have your funds on any exchange.
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