Why Banks Hates Bitcoin? - page 14. | Bitcointalksearch.org

Wapinter

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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.

Every business hates the competitor and bitcoin is not only competitor to Banks but it has the capabilities to completely wipe out banking system from financial sector.
That said,I strongly feel that bitcoin and bank can co-exist without any problem

Snail2

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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 do not hate bitcoin. They are not interested in it and see btc as very unstable asset. But they like the technology behind it.

BTW it isn't faster than a fast track payment here in the UK, also bitcoin is a lot more insecure and lot less foolproof than a bank account.

thend1949

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I think banks hate bitcoin because they dont control the price of it. They cant understand the flow of the price so they dont know what they do. But i think why they accepts it if they dont control it. If they dont know how to help banks using bitcoin

ultimatesky

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Quote from: marlboroza on April 26, 2016, 04:54:31 PM

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.

I dont think banks hate bitcoin, they just think bitcoin is very unstable ilegal filty coin for drug and weapon supplyes Shocked

And i also think this is for public, but secretly they trade with bitcoins as it can be very profitabile Wink

And banks can protect your money better than bitcoin wallets...

True they are afraid of bitcoin, because it is better then how they work. They billions of profit of overcharging us makes them afraid.
It's good they are afraid and luckily for us to change things.

marlboroza

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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.

I dont think banks hate bitcoin, they just think bitcoin is very unstable ilegal filty coin for drug and weapon supplyes Shocked

And i also think this is for public, but secretly they trade with bitcoins as it can be very profitabile Wink

And banks can protect your money better than bitcoin wallets...

bitlancr

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The banks are just hating on the bitcoin because it has a good future and its also that they do not have the power over the bitcoin.
They do not like the fact that they also cannot control people plus it can be used for transactions that have to be untraceable.

rekinthis

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they usually hate bitcoin because it is a thing that makes banks disappear in a long run in my opinion and it is a thing that allows people to use their bitcoins freely without any control of governments

i think that banks are afraid that they will become completely extinct in the near future because of the impact of bitcoins on their business, i hope that one day this revolution will happen

poptok1

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Bobby Fischer was right

Quote from: dothebeats on April 26, 2016, 02:13:02 PM

Quote from: poptok1 on April 26, 2016, 01:20:17 PM

Quote from: Junko on April 26, 2016, 12:59:29 PM

Banks don't hate Bitcoin. They just pretend to hate it while they build up their own stockpiles of it.

O yes! Im also 100% sure they hoarding huge amounts of BTC
Secretly, behind the curtains some serious trading is in motion.
They gather it for the future combined loans. Some county's still allow that kind of lending
witch is sad Sad

Who knows, maybe some of the banksters own bitcoin mines? That would have sense.
So I think they love it, love to the core

Just cant show that affection yet.

The thing is, bitcoin's market cap is way lower than what banks could actually make. $7 billion is just a minute amount compared to what banks are keeping and making in such a small time-frame. They probably could create their own blockchain, but I think they would never, ever touch bitcoin or manipulate/trade with it.

Yes you might be right on that.
Didn't thought about volume, thats a fact its small bucks, relatively Roll Eyes

BUT we have to take in to consideration that those are banks we talking about.
The most greedy institution on the planet, maybe accept church.
Do they allow that money to go under their nose?

LarryHocks

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Banks are hating on the bitcoin because they have no control over it, they are only want the system that is behind it.
They are as example love the blockchain.

dothebeats

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Quote from: poptok1 on April 26, 2016, 01:20:17 PM

Quote from: Junko on April 26, 2016, 12:59:29 PM

Banks don't hate Bitcoin. They just pretend to hate it while they build up their own stockpiles of it.

O yes! Im also 100% sure they hoarding huge amounts of BTC
Secretly, behind the curtains some serious trading is in motion.
They gather it for the future combined loans. Some county's still allow that kind of lending
witch is sad Sad

Who knows, maybe some of the banksters own bitcoin mines? That would have sense.
So I think they love it, love to the core

Just cant show that affection yet.

The thing is, bitcoin's market cap is way lower than what banks could actually make. $7 billion is just a minute amount compared to what banks are keeping and making in such a small time-frame. They probably could create their own blockchain, but I think they would never, ever touch bitcoin or manipulate/trade with it.

Kprawn

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Quote from: Junko on April 26, 2016, 12:59:29 PM

Banks don't hate Bitcoin. They just pretend to hate it while they build up their own stockpiles of it.

This is quite a bold statement to make, do you have any evidence of this? I spoke to a big investment banker a while ago and he reckons Bitcoin is no competition for them. We are but a mere ant in

the bigger scheme of things. Yes, they do not want people to manage their own finances and Yes .... They do not want to relinquish any market share... but they know that they can develop their own

Blockchain type technology and nobody can touch them. At this stage, we are still that little ant, and they can squash us like a bug.... BUT a ant is part of a bigger community of ants... and when they

grow bigger... they can collectively deliver quite a punch. Grin

icet208

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Banks hate Bitcoin because they can`t control it. They feel threatened by it. But also they find the blockchain technology very interesting and I`m sure that they will try to implement it for themselves

poptok1

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Bobby Fischer was right

Quote from: Junko on April 26, 2016, 12:59:29 PM

Banks don't hate Bitcoin. They just pretend to hate it while they build up their own stockpiles of it.

O yes! Im also 100% sure they hoarding huge amounts of BTC
Secretly, behind the curtains some serious trading is in motion.
They gather it for the future combined loans. Some county's still allow that kind of lending
witch is sad Sad

Who knows, maybe some of the banksters own bitcoin mines? That would have sense.
So I think they love it, love to the core

Just cant show that affection yet.

whoreble

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Quote from: RodeoX on April 26, 2016, 12:23:00 PM

Quote from: Alaki on April 26, 2016, 10:55:51 AM

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

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

Neh, you're wrong. IMO, bitcoins aren't that secured as compared to bank. Bitcoins, if ever hacked, you loose 'em forever but it isn't the case with the banks.

Well, you pay insurance for those bank hacks. The banks simply pass on the expense to you. They have to because online banking is simply not that secure. Bitcoin is far, far more secure, far faster, and far cheaper. Indeed the fastest, cheapest, and most secure banking system in history. Which are among the reasons it is worth billions and will likely be worth trillions.

Bitcoin is amazingly secure. Just ask anyone with coin on Gox. Or with pirateat40. Or with TF. Or the guy who just lost $300,000 (check this sub now). Or the guy who just lost $10,000 (ditto). Yeah, those coins still secure, just in different hands.
Bitcoin functioned as intended Cheesy

~Bitcoin~

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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 are centralized and regulated by government laws but bitcoin cant be regulated or made centralized. Actually goverment dont like to get messed with possoble money laundaring and terrorist issue which is possible bitcoin transactions thats why both banks and govs hate or hessitate to accept bitcoin.

dothebeats

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Hmm banks hate bitcoin but in reality, banks are building up their own centralized blockchain off of the decentralized from bitcoin. Funny how these banks create their own blockchain while hating the concept of bitcoin (which seems to be ironic, in my opinion.)

Junko

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Banks don't hate Bitcoin. They just pretend to hate it while they build up their own stockpiles of it.

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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.

Bitcoin has got everything secure equal or more than that of banks. Another important factor is that bank has got more acceptance than bitcoin, as bitcoin is in its early days of growth.

RodeoX

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The revolution will be monetized!

Quote from: Alaki on April 26, 2016, 10:55:51 AM

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

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

Neh, you're wrong. IMO, bitcoins aren't that secured as compared to bank. Bitcoins, if ever hacked, you loose 'em forever but it isn't the case with the banks.

Well, you pay insurance for those bank hacks. The banks simply pass on the expense to you. They have to because online banking is simply not that secure. Bitcoin is far, far more secure, far faster, and far cheaper. Indeed the fastest, cheapest, and most secure banking system in history. Which are among the reasons it is worth billions and will likely be worth trillions.

bitmarket.net

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It would be interesting to hear what experiences did people have with banks in various countires in relation to bitcoin.

Are there any countires, where banks have no problem working with bitcoin businesses ?
Do banks in other countries make it impossible ?

To what extent it depends on which bank you choose ?

Thanks for your input.

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