Dig into how banks make money,
"Banks also lend to each other on a huge scale. Most of this lending is on a short-term basis, usually no longer than three months, often just overnight."
I see it as the banks are hesitant to embrace such a young technology before it is fully vetted and until they know how to profit off it.
8 )
Topic: The Real Reason Banks Don’t Like Bitcoin (Read 1998 times)
I am of the view that banks do not have to worry about BTC will replace them. BTC will ultimately have to be converted to currency
BTC threatened the bank some of the benefits of, the banks will only hate it
BTC threatened the bank some of the benefits of, the banks will only hate it
Hi Keanbosch, just a quick question, what's your relationship with ahametals.com? Are you doing astroturfing/seo for them? Is it your site and you're chasing backlinks? Almost everyone of your posts seems to link to stories that have been posted there (even the re-written ones).
Maybe he just gets his news there.
What's the big deal?
YouTube has an incredible amount of leeched stuff, as do a lot of sites.
It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...
The problem is Bitcoin cannot be charged back and their internet banking is not extremely secure. Mostly only SMS 2 factor authorization and given how often computers+phones are compromised, SMS 2 factor authorization is not enought when dealing with Bitcoin
I think banks dont like bitcoin because they have less control of the money. I could see in the future if they had you store your bitcoin on their wallet that has been assigned to you.
Just so if they need to take some type of fee or doing a charge back. This would mean putting names to wallets and it would no longer be anonymous. I dont like the thought of that at all.
I hope it doesnt come to that. I guess we'll see what the banks role turn into in the near future. I have a feeling they are going to figure out a way to make a buck or 2 on it.
Just so if they need to take some type of fee or doing a charge back. This would mean putting names to wallets and it would no longer be anonymous. I dont like the thought of that at all.
I hope it doesnt come to that. I guess we'll see what the banks role turn into in the near future. I have a feeling they are going to figure out a way to make a buck or 2 on it.
Reading this article I don't understand how this was a secret to the community (was it?) Dealing with as many banks as I have with my business the reason was made very clear by the compliance department of the banks as well as the top management at the banks.
I don't think this was actually any secret, and I don't think the article has much value, I think the OP is trying to create backlinks for the site he 'happened' across somewhere, check his post history.
Reading this article I don't understand how this was a secret to the community (was it?) Dealing with as many banks as I have with my business the reason was made very clear by the compliance department of the banks as well as the top management at the banks.
Banks are already very heavily regulated, the most so in generations. I doubt regulators can realistically impose much additional regulation on them.
http://www.ahametals.com/real-reason-banks-dont-like-bitcoin/
So Bank fears of bitcoin takeover...
Quote
More conspiratorial theories say bitcoin’s destiny is to replace banks, and banks fear the competition. The real answer, however, could be the more mundane one of regulatory risk.
So Bank fears of bitcoin takeover...
Hi Keanbosch, just a quick question, what's your relationship with ahametals.com? Are you doing astroturfing/seo for them? Is it your site and you're chasing backlinks? Almost everyone of your posts seems to link to stories that have been posted there (even the re-written ones).
So these days have come now? Everyone making up the real reason/s why banks don't like Bitcoin?
This isn't helping anyone really.
This isn't helping anyone really.
yeah i think people are just paranoid for now. bitcoin is still dwarfed by banking. those guys are so big that they are probably not even worried about bitcoin, for now. if it gets off the ground and starts taking away some of their business, then yeah it's time to suspect the banks of something fishy. payment processors are still probably the bigger foe right now. i think mastercard has put some money into lobbying against bitcoin even.
It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...
The problem is Bitcoin cannot be charged back and their internet banking is not extremely secure. Mostly only SMS 2 factor authorization and given how often computers+phones are compromised, SMS 2 factor authorization is not enought when dealing with Bitcoin
Quote
Banks around the world, particularly in the US, have been closing down accounts ofbitcoin startups and even bitcoin-accepting businesses for over a year now.
Oh my lord, in Europe, too ... blacklist of customer that it use the SEPA to an exchange is a direct line to a closed account after 2-3 month.
More quickly is account close or are empty ...
So these days have come now? Everyone making up the real reason/s why banks don't like Bitcoin?
This isn't helping anyone really.
This isn't helping anyone really.
i think ti's overstated. bitcoin is a potential threat to them, but as it currently is, it doesn't pose much of a threat.
The quote in the op mentions it so maybe people are just going by that.
Yes, it mentions " The real answer, however, could be the more mundane one of regulatory risk."
Meaning, it isn't banks fear bitcoin will take over....maybe you just read the first 5 words in the sentence....
The OP is dumb for posting it, and everyone else is going off that and not even reading anything, what is the point of having a conversation if no one reads/discusses anything and just posts whatever the heck they want???
Did anyone actually ready the article or my comment?
This article has nothing to do with Banks hating Bitcoin because its competition.
It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...
This article has nothing to do with Banks hating Bitcoin because its competition.
It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...
The quote in the op mentions it so maybe people are just going by that.
Did anyone actually ready the article or my comment?
This article has nothing to do with Banks hating Bitcoin because its competition.
It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...
This article has nothing to do with Banks hating Bitcoin because its competition.
It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...
http://www.ahametals.com/real-reason-banks-dont-like-bitcoin/
Quote
More conspiratorial theories say bitcoin’s destiny is to replace banks, and banks fear the competition.
Well if they are fearing it it is because it's direct competition, but I don't think they're too worried or will be any time soon. Even if bitcoin becomes global people will still need banks or some of the services they provide. They will have to adapt and move with the times though.
And the REAL reason banks hate and fear Bitcoin is, the corrupt governmental people of the world have discovered ways to use Bitcoin to continue their corruption, and that with more anonymity and ease than they could ever use Fiat.
ahametals.com leeches off of other sites by copying their articles. It would be better if you posted links to the original articles rather than to your own site, so that the original site gets the traffic.
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