Topic: Why Banks are attacking Bitcoin ? - page 16. (Read 9110 times)
Obviously banks are scared with Bitcoin. I think bank is getting obsolete in transactions. Aside from that bitcoin tarnsaction is very fast and banks charge fees everytime. Bitcoin transacs directly to the person. No need for middle man which is the banks so i guess this is the reason bank keeps attacking bitcoin.
because Bitcoin is not under the control of banks.the banks don'tt like things that are not in the bank controls.
The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.
They are really protecting their businesses cause literally blockchain technology can beat them in terms of transacting payments. Though some banks are now adopting cryptocurrency I still believe that they are afraid to be left out. Bitcoin is amazing that can really change our financial system in the future.
Maybe because Bitcoin ruin the system bank
The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.
Not only because of that now Bitcoin and other cryptocurrency are not running themselves and they are not making the commission on those. Bitcoin is the decentralized platform where people can transfer the money without any mediator like banks. This makes more frustrating about it.
I think its a gross generalization to say they are against bitcoin. They are against risk, and for protecting customer's money. That is the principle they were created to endorse.
They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum.
They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.
Govt are affraid of losing financial control on money. As govt run by taxes and using digital payment system cuts down the taxes in my opinion and govt cannot trace transaction. In my opinion this is the reason.They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum.
They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.
A lot of people has invested or bought bitcoins including those who uses banks for their savings. Bitcoin is becoming the people's currency because many are preferred to invest in it than in the banks. It has also the potential to become a new currency that can possibly replace any national currency in the future and it can't even controlled by governments and big banks. This is the reason why banks want to limit the cryptocurrency potential because they are really threatened by its popularity.
The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.
Feel the competition
no one wants to lose their money, the more regular customers
no one wants to lose their money, the more regular customers
Banks attacking the bitcoin because they are afraid to lose their depositors. Instead of saving in their bank accounts people prepared to save in their bitcoin wallet because it has a greater changes to earn extra profit if the value of bitcoin gets high. Also instead of using online banking for payments and exchange transaction the people would likely use bitcoin because it generates low fees and penalties.
Bitcoin itself is an attack on banking institutions and governments.Many institutions are adapting, but many more are fighting back..It's being attacked by every single entity who has the ability and the motive,so yes.People don't factor in how strong bitcoin is when they complain about it or consider its value.
Centralized banks simply view Bitcoin and cryptocurrency as a threat to their profits and financial control.
Bitcoin is the biggest threat to them that has ever emerged, and that's what makes them afraid of what has to come. I love it.
While I do agree that Bitcoin poses a serious threat to the banking system, I am also of believe that it could boost their way of doing business to a whole new level. They just need to get rid of their inside hate towards Bitcoin.If they play it well, and make use of Bitcoin's popularity to offer all kinds of services based on Bitcoin, I have no doubt that they will change from hater to lover. Bitcoin is the new and improved version of gold.
The fear of allowing something new to stand up is what's holding them back. I seriously wish they will let go of that to finally understand that Bitcoin means progression, and not failure of the banking system.
Can someone here give me an example of an attack that was done by a bank to Bitcoin?
Let me name up a few:
-- Banks prohibiting crypto credit purchases.
-- Banks prohibiting people from wiring money to crypto exchanges.
-- Banks prohibiting businesses from getting involved in anything crypto related as long as they make use of that specific bank.
-- Polish central bank paid a YouTuber to discredit crypto.
-- Bank CEO's discrediting Bitcoin and say it's a fraud.
And there may be a few more that I might have missed. But it's more than enough to conclude that banks don't like Bitcoin, to be more specifically. If you don't think these are attacks on crypto, then I don't know what you will ever consider to be an attack. And these are the attacks that are known already. I am sure that just like the Polish central bank did, there are more banks sponsoring anti crypto campaigns. It's just a matter of time before that becomes publicly known as well. Bitcoin is the biggest threat to them that has ever emerged, and that's what makes them afraid of what has to come. I love it.
I don't think that there is a clear attack banks are doing to Bitcoin. I mean the only thing with significance I have seen lately is some banks have banned cryptocurrency purchases on their customer's credit card, and for me that is understandable. Their customers buying a risky asset on a credit will mean bad business for them. So I totally understand why they want to be on the safe side of business, even that kind of move made by a bank does not show a direct attack to Bitcoin. Can someone here give me an example of an attack that was done by a bank to Bitcoin?
The main reason behind attacking Bitcoin is, they are not getting any benefits from the transaction what they are doing and for cryptocurrency business there is no middle in between us this make very frustrating and banks are making lot of pressure on governments.
I think, What is most feared by economists and banks around the world is the collapse of the global banking system.
Due to the presence of bitcoin, people do not have to bother using bank services to store or transfer the money, because using bitcoin is much cheaper and relatively more secure.
Bitcoin is also very profitable to invest because the price is very fast rise.
Then because of its anonymity, consumers prefer bitcoin as its flagship rather than a bank.
Due to the presence of bitcoin, people do not have to bother using bank services to store or transfer the money, because using bitcoin is much cheaper and relatively more secure.
Bitcoin is also very profitable to invest because the price is very fast rise.
Then because of its anonymity, consumers prefer bitcoin as its flagship rather than a bank.
day by day bitcoin develop more and more and it is the opponent of bitcoin,the country manager bank and they don't want lose market share
Bank are opposing bitcoins becuase they make handsome amount of money in doing swift transactions so if bitcoin becomes the mainstream for the whole world for sending or remitting their receipts through digital currency there where are the banks stand. 
Actually, many banks are aspiring to break Bitcoin and of course, there is a big support from their governments. As well, it is very unfortunate that they are always attacking this currency, but the only reason is the financial losses and the widespread economic crisis in many countries and due to there is a decrease in the value of their currencies (FIAT).
As a matter of fact, the digital currencies and especially "Bitcoin" have become more successful than before, and these currencies are always criticized from many governments (Banks) because they are not beneficiaries of financial transactions and there has been an increase in the number of cryptocurrencies users.
In fact, I think that the continuation of Bitcoin development and other currencies will lead to recognition from all governments.
As a matter of fact, the digital currencies and especially "Bitcoin" have become more successful than before, and these currencies are always criticized from many governments (Banks) because they are not beneficiaries of financial transactions and there has been an increase in the number of cryptocurrencies users.
In fact, I think that the continuation of Bitcoin development and other currencies will lead to recognition from all governments.
day by day bitcoin develop more and more and it is the opponent of bitcoin,the country manager bank and they don't want lose market share
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