Why Banks Hates Bitcoin? - page 10. | Bitcointalksearch.org

bitlancr

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Quote from: knowhow on May 03, 2016, 02:44:45 PM

Well with bitcoin we can do almost all things banks would do for us with their fee for their services.But my wife told me that some people got jail because of bitcoin,i believe they were doing bad things related to it.

Indeed, banks are hating that they do not have any powers and the bitcoin can be used by everyone.
You can have a lot of money on it with letting know the bank you have this...

erikalui

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Banks require identity proof of users who hold an account and plus the money we transact via a bank is white money while bitcoins are black money. That's why banks don't support this currency but they haven't yet closed any account dealing with bitcoins. It's just an FUD that they do. It's because people used hack accounts to buy bitcoins that many consider that banks hate the currency which is not the case.

knowhow

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Well with bitcoin we can do almost all things banks would do for us with their fee for their services.But my wife told me that some people got jail because of bitcoin,i believe they were doing bad things related to it.

eddyubachs

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Quote from: BitHodler on May 03, 2016, 11:11:05 AM

Quote from: RobinHoodster on May 03, 2016, 09:59:26 AM

Banks hate Bitcoin because there are now a lot of people that is using Bitcoin so that is quite bad for the banks because more people are going to use Bitcoin as their payment method.
And that would be only nice if there will be more and more so people are also going to promote it now.

Bitcoin usage in general doesn't really bother the banks but more the fact that people can now store money without needing banks. That's what makes them scared.

Yes people have their own bank in the form of bitcoin wallet and people have total control on it and they can access their funds 24/7 and even can transact 24/7.

BitHodler

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Quote from: RobinHoodster on May 03, 2016, 09:59:26 AM

Banks hate Bitcoin because there are now a lot of people that is using Bitcoin so that is quite bad for the banks because more people are going to use Bitcoin as their payment method.
And that would be only nice if there will be more and more so people are also going to promote it now.

Bitcoin usage in general doesn't really bother the banks but more the fact that people can now store money without needing banks. That's what makes them scared.

rinhunter

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Because Bitcoin is filled with all the conveniences. Starting from creating wallet, transaction fees, and selling or buying activity.

harizen

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Quote from: RobinHoodster on May 03, 2016, 09:59:26 AM

Banks hate Bitcoin because there are now a lot of people that is using Bitcoin so that is quite bad for the banks because more people are going to use Bitcoin as their payment method.

Really? Where did you get this stats?

How much is that "lot"?

mindrust

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Because now bitcoin is there, they won't be able to rip-off people with high fees to transfer people's money overseas. They got huge mad.

RobinHoodster

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Banks hate Bitcoin because there are now a lot of people that is using Bitcoin so that is quite bad for the banks because more people are going to use Bitcoin as their payment method.
And that would be only nice if there will be more and more so people are also going to promote it now.

jossiel

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Quote from: goinmerry on May 03, 2016, 08:24:54 AM

If you will think about it. Bitcoin is like a bank also. You can invest your money in it. You can transfer money using it. Your money is also growing. A competition could be the one good description not hate.

That's why company hates competition because the profit will be lesser if they have competitors.
Since bitcoin is just like true money but online currency, this will be a big threat to banks.
With fiat money you need to withdraw your money to ATM, unlike bitcoin you can buy, shop online convenient and easy.

goinmerry

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If you will think about it. Bitcoin is like a bank also. You can invest your money in it. You can transfer money using it. Your money is also growing. A competition could be the one good description not hate.

Mumbeeptind1963

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Sovryn - Brings DeFi to Bitcoin

Quote from: wikenpp on May 02, 2016, 12:20:18 PM

I think the main reason is why they are hating on it is because its not controllable by them at all.
They do not have any powers on it, although they are hating on the bitcoin they like the blockchain system...

Agree, they cant control it so that they hate it. But why they accepts bitcoin if they cant controllable this coin ?
Possibly, it can cause a bankcruptcy of a bank so that they hate it. Or many people using it and others dont need banks anymore

Indrawan77

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According to expert bitcoin can disturb the economics situation that is why bank doesnt agree bitcoin existed, because the less people using fiat the cashflow in the country will be disrupted, in order to balance the economic we still need bank to exist

BCEmporium

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Banks don't hate bitcoin, they are actually interested on it. Just struggling with the learning curve.
But to the end banks are made for profit from the economy, no mater what form it takes.

stromma44

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Quote from: Erzatium on May 03, 2016, 02:57:37 AM

Banks don't hate banks why would they hate them bitcoin will never be the number
one paying method. paypal and other methods will always be first and uses real money so the bank is just happy that the bitcoin isn't that popular.

Banks are happy at a moment that bitcoin is not popular yet, but what in future when bitcoin gains popularity? Banks are aware that bitcoin can be a threat to their system in future.

GKE

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The tech behind the Bitcoin is called blockchain methodology which cause decentralization and cut down the role bank's role in financial field. There is a AisaWorldExpo in HK on 18 May. You can know more about it.

Erzatium

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Banks don't hate banks why would they hate them bitcoin will never be the number
one paying method. paypal and other methods will always be first and uses real money so the bank is just happy that the bitcoin isn't that popular.

waltercoin2016

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As Bitcoin is not controlled by banks with the value equivalent to 7 billion USD. These amount will be controlled by requtable bitcoin companies like ANX, BitPay, etc.

Ryananda

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It seems banks do not hate bitcoin, because in a place I do not hate banks bitcoin. Maybe I think banks and different bitcoin and no linkage so banks do not care about bitcoin. As far as I hate bitcoin, and bitcoin is the government prohibits.

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Quote from: Vaskiy on May 02, 2016, 09:20:56 PM

Quote from: raphma on May 02, 2016, 12:51:21 PM

simple, they cant control bitcoin. So... they hate it.
Imagine how much money they could have in fee's if bitcoin doesnt exist, and in the future this number will increase even more.

Right not only less transaction fee, in every aspect it is a thread for the banks, if bitcoin is legally accepted then people start to adopt this virtual currency than going for banks that's why banks hate it.

Banks doesn't think bitcoin to be a thread. It's an advancement in technology which might be adopted by banks for their betterment. But this adoption won't affect bitcoins growth.

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