Why Banks Hates Bitcoin? - page 6. | Bitcointalksearch.org

jossiel

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Quote from: pooya87 on May 17, 2016, 02:05:32 AM

banks are generally against bitcoin because bitcoin can in some ways take their place in the world. i am not saying bitcoin will replace fiat and replace banks but i say it will at least take a big chunk of their customers and revenue and that scares them.

Yes it would probably people that are using bank services will shift into the services of bitcoin, that's why they hated most bitcoin. Just like the super hero things, bitcoin is banks arch enemy.

Ryananda

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Quote from: Hashminers on May 17, 2016, 05:06:26 AM

I think that banks hate Bitcoin because some people rather invest there money into Bitcoin then saving there money at the bank. The banks cannot make money this way.
So I understand why the banks may not like Bitcoin that much.

Not true if we take money from banks, banks still make a profit. Banks are not supposed to be concerned about bitcoin for real money and digital money is very different and do not affect each other. So although bitcoin the best price that will not make the problems with the banks.

Hashminers

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I think that banks hate Bitcoin because some people rather invest there money into Bitcoin then saving there money at the bank. The banks cannot make money this way.
So I understand why the banks may not like Bitcoin that much.

pooya87

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banks are generally against bitcoin because bitcoin can in some ways take their place in the world. i am not saying bitcoin will replace fiat and replace banks but i say it will at least take a big chunk of their customers and revenue and that scares them.

JeffBrad12

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Quote from: ausbit on May 17, 2016, 01:12:45 AM

Quote from: cluit on May 16, 2016, 11:37:40 AM

Quote from: upsidedown75 on May 13, 2016, 11:07:01 AM

Quote from: jossiel on May 12, 2016, 02:07:02 AM

Quote from: DimensionZ on May 11, 2016, 04:59:38 AM

The big banks don't like Bitcoin because it offers more benefits to end users than traditional checking bank accounts. That's one of the many reasons why some people are closing their bank accounts and flocking to Bitcoin instead. Also Bitcoin can be used as a savings account if you are brave enough to buy and hold coins for the long-term investment value and the interest rate will be much higher. That's why the Blockchain technology is sought-after by fiat financial institutions.

And putting up a bitcoin wallet, doesn't need a money or maintaining balance for opening it. Unlike opening a savings account to the bank, you need to have money for the fees and you need to deposit to have a maintaining balance.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

Yes that is why banks are getting fear about losing their customers and becoming hating bitcoins system now a days. But only the more beneficial and advantages thing will survive in the competition between bank and bitcoin. But now itself we can predict the survivor would be bitcoin.

You are right. When we are realizing the advantages, we will go with using bitcoin over traditional and killing bank system or paypal kind of payment processors, we could definitely say people will forget banking system in near future itself.

Not for now, because value of bitcoin is rely with USD. We know basically money rotation is centered in bank.maybe bank can losing their customer but value of bitcoin controlled by bank.so i think bitcoin can survive if bank survive too.

Ryananda

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Quote from: ausbit on May 17, 2016, 01:12:45 AM

Quote from: cluit on May 16, 2016, 11:37:40 AM

Quote from: upsidedown75 on May 13, 2016, 11:07:01 AM

Quote from: jossiel on May 12, 2016, 02:07:02 AM

Quote from: DimensionZ on May 11, 2016, 04:59:38 AM

The big banks don't like Bitcoin because it offers more benefits to end users than traditional checking bank accounts. That's one of the many reasons why some people are closing their bank accounts and flocking to Bitcoin instead. Also Bitcoin can be used as a savings account if you are brave enough to buy and hold coins for the long-term investment value and the interest rate will be much higher. That's why the Blockchain technology is sought-after by fiat financial institutions.

And putting up a bitcoin wallet, doesn't need a money or maintaining balance for opening it. Unlike opening a savings account to the bank, you need to have money for the fees and you need to deposit to have a maintaining balance.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

Yes that is why banks are getting fear about losing their customers and becoming hating bitcoins system now a days. But only the more beneficial and advantages thing will survive in the competition between bank and bitcoin. But now itself we can predict the survivor would be bitcoin.

You are right. When we are realizing the advantages, we will go with using bitcoin over traditional and killing bank system or paypal kind of payment processors, we could definitely say people will forget banking system in near future itself.

No I do not think that way. Progress and improvement of bitcoin later in my opinion will not affect the banks because of the fact that many people are cashing in bitcoin results through banks. It is proof that bitcoin is still dependent on banks. Moreover bitcoin is still based on the currency. So I think it has no effect, and banks do not hate bitcoin.

ausbit

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Quote from: cluit on May 16, 2016, 11:37:40 AM

Quote from: upsidedown75 on May 13, 2016, 11:07:01 AM

Quote from: jossiel on May 12, 2016, 02:07:02 AM

Quote from: DimensionZ on May 11, 2016, 04:59:38 AM

The big banks don't like Bitcoin because it offers more benefits to end users than traditional checking bank accounts. That's one of the many reasons why some people are closing their bank accounts and flocking to Bitcoin instead. Also Bitcoin can be used as a savings account if you are brave enough to buy and hold coins for the long-term investment value and the interest rate will be much higher. That's why the Blockchain technology is sought-after by fiat financial institutions.

And putting up a bitcoin wallet, doesn't need a money or maintaining balance for opening it. Unlike opening a savings account to the bank, you need to have money for the fees and you need to deposit to have a maintaining balance.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

Yes that is why banks are getting fear about losing their customers and becoming hating bitcoins system now a days. But only the more beneficial and advantages thing will survive in the competition between bank and bitcoin. But now itself we can predict the survivor would be bitcoin.

You are right. When we are realizing the advantages, we will go with using bitcoin over traditional and killing bank system or paypal kind of payment processors, we could definitely say people will forget banking system in near future itself.

jdmorgan

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It easy: banks hate Bitcoin because Bitcoin don't need any banks. With Bitcoin you are the bank of yourself

Slark

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Quote from: btc-facebook on May 16, 2016, 11:50:46 AM

Quote from: amiryaqot on May 16, 2016, 11:44:05 AM

Bitcoin has more advanced financial system and providing more fast services than any traditional baking system, it has very low transaction fee as compare with international funds which takes a lot of days and charges very big fee these days people are using this method for fast transaction around the world and that is why banks are worry with this situation.

I think bank and bitcoin are different thing.

Bitcoin is a currency meanwhile bank is a place for keep your money.
I do not find any connection between them

Actually there is more to it than seems at first glance. What will you do when you want to send money to your family in another city?
You don't put banknotes into the envelope and send them via traditional mail, right? You use bank transfer! With Bitcoin you can do the same thing but you eliminate 3rd party from the equation.

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Quote from: amiryaqot on May 16, 2016, 11:44:05 AM

Bitcoin has more advanced financial system and providing more fast services than any traditional baking system, it has very low transaction fee as compare with international funds which takes a lot of days and charges very big fee these days people are using this method for fast transaction around the world and that is why banks are worry with this situation.

I think bank and bitcoin are different thing.

Bitcoin is a currency meanwhile bank is a place for keep your money.
I do not find any connection between them

amiryaqot

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Bitcoin has more advanced financial system and providing more fast services than any traditional baking system, it has very low transaction fee as compare with international funds which takes a lot of days and charges very big fee these days people are using this method for fast transaction around the world and that is why banks are worry with this situation.

cluit

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Quote from: upsidedown75 on May 13, 2016, 11:07:01 AM

Quote from: jossiel on May 12, 2016, 02:07:02 AM

Quote from: DimensionZ on May 11, 2016, 04:59:38 AM

The big banks don't like Bitcoin because it offers more benefits to end users than traditional checking bank accounts. That's one of the many reasons why some people are closing their bank accounts and flocking to Bitcoin instead. Also Bitcoin can be used as a savings account if you are brave enough to buy and hold coins for the long-term investment value and the interest rate will be much higher. That's why the Blockchain technology is sought-after by fiat financial institutions.

And putting up a bitcoin wallet, doesn't need a money or maintaining balance for opening it. Unlike opening a savings account to the bank, you need to have money for the fees and you need to deposit to have a maintaining balance.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

Yes that is why banks are getting fear about losing their customers and becoming hating bitcoins system now a days. But only the more beneficial and advantages thing will survive in the competition between bank and bitcoin. But now itself we can predict the survivor would be bitcoin.

rickadone

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Quote from: voztata on May 14, 2016, 08:07:37 AM

Quote from: wikenpp on May 13, 2016, 05:48:05 AM

Quote from: RobinHoodster on May 13, 2016, 03:04:37 AM

Quote from: btccashacc on May 09, 2016, 06:56:09 PM

Quote from: Blitzboy on May 08, 2016, 05:36:55 AM

I think they didnt know how bitcoin works.. and they are affraid about scams.. because many scam and illegal about bitcoin thats why they are hating it..

they already knew about bitcoin, even they are interested in technology behind bitcoin yeah the blockchain, but they are aware of bitcoin, since they can't controll it, as we know that banks make money by charging fees for services they provide and by charging interest on money that they lend, if they adopted bitcoin they will earn nothing,

Banks are hating Bitcoin because there are now also a lot of people that is using some Bitcoin so they cant earn some money with it anymore and that is the baddest thing that can happen to them.
And that is namely because the world is also getting more digital so that is perfect for the Bitcoin itself.

Well yes, banks overcharge customers highly on the fees The same telecom operators did for years with buying minutes.
With bitcoin consumers do have an alternative which outperfroms the old way of sending/receiving money.

What I am interested about is how companies, eventually will embed bitcoin in their daily operations.

Yes, bitcoin will make banks suffering with lower profit making. When most of the people go for bitcoins payment system, then the chances of making average profits for banking would be much difficult. Obviously banks will start implementing bitcoins systems within part of their services.

This is most common and expected result of bitcoin's arrival into financial world. How long banks can cheat people by overcharging them. Bitcoin will help many people to get their own banking even they are not eligible for traditional bank accounts. Bitcoin is going to be a new bank system for every human.

Mumbeeptind1963

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Quote from: ~Bitcoin~ on April 26, 2016, 01:10:08 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.

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.

Bank dont hate bitcoin. Government does hate bitcoin. Theres no tax at all you we can move our bitcoin freely where ever we want and its money. they cant control it or trace it. They cant put there hands on the neck. We can put billions of dollars on bitcoin. that they will not know just wash it and walla all things is now cleaned.

2c0de

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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.

More like to dump the hoard on the very worst moment, in an attempt to crush the price.

voztata

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Quote from: wikenpp on May 13, 2016, 05:48:05 AM

Quote from: RobinHoodster on May 13, 2016, 03:04:37 AM

Quote from: btccashacc on May 09, 2016, 06:56:09 PM

Quote from: Blitzboy on May 08, 2016, 05:36:55 AM

I think they didnt know how bitcoin works.. and they are affraid about scams.. because many scam and illegal about bitcoin thats why they are hating it..

they already knew about bitcoin, even they are interested in technology behind bitcoin yeah the blockchain, but they are aware of bitcoin, since they can't controll it, as we know that banks make money by charging fees for services they provide and by charging interest on money that they lend, if they adopted bitcoin they will earn nothing,

Banks are hating Bitcoin because there are now also a lot of people that is using some Bitcoin so they cant earn some money with it anymore and that is the baddest thing that can happen to them.
And that is namely because the world is also getting more digital so that is perfect for the Bitcoin itself.

Well yes, banks overcharge customers highly on the fees The same telecom operators did for years with buying minutes.
With bitcoin consumers do have an alternative which outperfroms the old way of sending/receiving money.

What I am interested about is how companies, eventually will embed bitcoin in their daily operations.

Yes, bitcoin will make banks suffering with lower profit making. When most of the people go for bitcoins payment system, then the chances of making average profits for banking would be much difficult. Obviously banks will start implementing bitcoins systems within part of their services.

Kollor

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Quote from: Rizky Aditya on May 13, 2016, 09:05:24 PM

Banks hate Bitcoin because people are moving to Bitcoin and they are losing their business. But most people that have Bitcoin, also have a bank account.

Well, IMO, I don't think that those who have bank accounts are starting to move their money from fiat to bitcoin, most of us don't invest that much in bitcoin...So probably that's not the issue why banks would hate bitcoin... I think it's more like they won't have profit in bitcoin because it is not under their control...Most probably if bitcoin can be deposited under the control of banks, then I think bitcoin would bloom faster which is I think is like a dream( could never come true) ...

Rizky Aditya

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Banks hate Bitcoin because people are moving to Bitcoin and they are losing their business. But most people that have Bitcoin, also have a bank account.

katrimans

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bitcoins sending option are less. Roll Eyes

Tusk

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Bitcoin is the glass slipper that banks will never fit into

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