Why Banks Hates Bitcoin? - page 11. | Bitcointalksearch.org

avikz

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Quote from: bL4nkcode on April 26, 2016, 10:51:43 AM

Why banks hate bitcoin... And why we no longer need them...

What banks can do better than bitcoin. If bitcoin also have almost all features of banks. Only must have an internet and you can use bitcoin already.

And bitcoin has faster transactions than the bank and more secure I guess.

Banks hate bitcoin because bitcoin is building up a parallel economy which is anonymous in nature. Banks and governments will be furious if money is free distributed in the economy without their intervention. Money is the most powerful weapon to control people and if it is being distributed freely, the power of control will be shifted from their hands.

That's the reason no bank will support the bitcoin or blockchain technology.

machinek20

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yes they can't control it but when it become popular bank will use it as foreign currency Undecided

Vaskiy

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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.

Hellacopter

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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.

Yes that's true, the main reason that banks hate Bitcoin is because it's decentralized currency, could be used worldwide without issues and also having a little fee, less than banking fees usually.

raphma

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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.

0day

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Quote from: DataSecurityNode on May 02, 2016, 09:12:32 AM

I think a lot of what people have said already is spot on.

From what I have gathered about banks though.. bitcoin at present is just a pimple compared to them.

They don't care anything about bitcoin and don't expect it to go anywhere.. but they love bitcoin for bringing them blockchain.

You are also true, but the one thing which is becoming problem for the bankers is that bitcoin is anonymous and any transaction of bitcoin do not bring any data about the money that from where that money has came, and it is against the rules of a bank that a person bring some money do not provide source that from where he has earned that money or from whom he got that money.

but again I agree with you as if bitcoin increased to a wide space of the world then they will provide a solution for that matter.

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Quote from: upsidedown75 on May 02, 2016, 12:17:48 PM

Quote from: katrimans on May 02, 2016, 09:05:17 AM

NO, you should correct your information, because i and most of the members in bitcointalk that don't think that bank hate the bitcoin, both have a do different work. bank save the money, and bitcoin is already money.

But I do not think so. People may skip using bank if they find bitcoin suitable for all their financial needs. I believe banks may fear on bitcoin for this reason. In my personal opinion, bitcoin will replace the need of banking system in our real life. Bitcoin will be the world central bank.

You are right with that. we won't need banks anymore if all people will use bitcoin.
We can just easily secure our money with blockchain and other btc wallet address providers
with our private keys.

wikenpp

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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...

upsidedown75

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Quote from: katrimans on May 02, 2016, 09:05:17 AM

NO, you should correct your information, because i and most of the members in bitcointalk that don't think that bank hate the bitcoin, both have a do different work. bank save the money, and bitcoin is already money.

But I do not think so. People may skip using bank if they find bitcoin suitable for all their financial needs. I believe banks may fear on bitcoin for this reason. In my personal opinion, bitcoin will replace the need of banking system in our real life. Bitcoin will be the world central bank.

jossiel

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Quote from: katrimans on May 02, 2016, 09:05:17 AM

NO, you should correct your information, because i and most of the members in bitcointalk that don't think that bank hate the bitcoin, both have a do different work. bank save the money, and bitcoin is already money.

Banks hate bitcoin because we already have an online bank, our wallet is already our bank for our bitcoin.
In that case, the work of banks will be lessen and it can be a threat to their industry if people
will shift into bitcoins.

DataSecurityNode

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I think a lot of what people have said already is spot on.

From what I have gathered about banks though.. bitcoin at present is just a pimple compared to them.

They don't care anything about bitcoin and don't expect it to go anywhere.. but they love bitcoin for bringing them blockchain.

katrimans

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Banks like fiat more than the bitcoins

Sandroxa

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Banks are hating Bitcoin because there are a lot of people is going to use Bitcoin as their payment method so they dont need the banks anymore and that is the reason why they hate it.
But that will be also the future because as you can see now you see also that Bitcoin is getting more acceptable.

AlexBits

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Don't think they really hate them it's only the way you can get a coin.
because a coin is real gold and coins can be sold for gold. why would they hate their money isn't gone

bitmarket.net

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Banks love the blockchain, though.

Can you have blockchain without bitcoin (or any other crypto-currency) ?

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Quote from: ABCbits on April 27, 2016, 10:33:47 AM

Quote from: katiecbell on April 27, 2016, 10:22:47 AM

Banks hate Bitcoin because they can`t apply taxes to it.

Government force everyone who use bitcoin to use wallet provided by banks, so government can take taxes and bank can take fees.
Banks and government won't hate bitcoin if it can happen.

Yes, the banks should have to provide their wallets and have to invite people to use that wallets so in this case banks and governments will get their profit and will then do not hate bitcoin but they will start loving it.

ingenuity

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Nope I think the banks didnt hate bitcoin, They are merging with it, Here in our country we can cashou out earnings using bank accounts

ralle14

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By looking at this article it seems like banks doesnt hate bitcoins i even saw other banks try to copy bitcoin by making a same system of bitcoin. http://www.coindesk.com/8-banking-giants-bitcoin-blockchain/

jackthedoe

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Quote from: bL4nkcode on April 26, 2016, 10:51:43 AM

Why banks hate bitcoin... And why we no longer need them...

What banks can do better than bitcoin. If bitcoin also have almost all features of banks. Only must have an internet and you can use bitcoin already.

And bitcoin has faster transactions than the bank and more secure I guess.

Banks does not hate bitcoin, they are just trying to find the way to cheat it, to take the most profitable benefits from us... Tongue

, but you are in truth, we dont need them, but this "change of mind" is not easy for most of the humans, no, we are not ready to do "that step" yet, maybe soon...

Need4bits

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No banks do not hate bitcoin , they only follow their rule by the government and that rules are that, the banks should have to collect all the data about the earnings source and the income of the person who want to keep their money in banks and it is not possible with bitcoin.

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