Why many banks hate cryptocurrency ? - page 10.

jake zyrus

full member

Activity: 798

Merit: 121

Quote from: altcoinanalyst1 on May 19, 2018, 05:25:54 AM

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

I think there are a lot banks that hate bitcoin because they are paranoid that they will loss customers since bitcoin is better in my opinion. The industry of cryptocurrency mainly spreads on countries with advanced technology which is also the place with the high demand for finance. They just afraid to lose in the competition.

jeanifersoena

newbie

Activity: 10

Merit: 0

Quote from: kabelpeggek on May 24, 2018, 10:21:17 AM

Many banks have begun to integrate the blockchain system into their systems. It's a big step for technology.Banks do not like the crypto exchange for this reason. We learned the blockchain system through the crypto stock exchange.This is a sign that bitcoin is a threat to the banking system since bitcoin wants to replace the banks with bitcoin wallets.

I think they are afraid that they might be replaced by crypto and maybe they didn't want crypto stay in its position and they want to ruin it to fall and not to improve,they think that way.

Timere

newbie

Activity: 133

Merit: 0

It's obvious that with the development of the crypto currency, banks will lose their income. Bitcoin banks are uplifted as a threat to their existence

znakistu

full member

Activity: 263

Merit: 100

"Banks" do not have enough or no incentive "to link themselves with bitcoins and crypto currencies because of fears of being involved in related illegal activities," said Executive Director of Credit Suisse. Chief Financial Officer of ING also voiced fears about the crypto currency, saying that although digital assets are an effective medium of exchange, the bank does not recommend clients to invest in them. While TD Bank is actually trying to block the purchase of bitcoin.

muneeb.zain

newbie

Activity: 140

Merit: 0

Most of the banks do hate crypto currency because due to this there customers turning to it and there bracket window of profit is getting reduced by the online transaction of crypto.

kabelpeggek

jr. member

Activity: 173

Merit: 1

Many banks have begun to integrate the blockchain system into their systems. It's a big step for technology.Banks do not like the crypto exchange for this reason. We learned the blockchain system through the crypto stock exchange.This is a sign that bitcoin is a threat to the banking system since bitcoin wants to replace the banks with bitcoin wallets.

Kim Domingo

full member

Activity: 208

Merit: 100

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

Quote from: altcoinanalyst1 on May 19, 2018, 05:25:54 AM

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

Banks do not have to hate cryptocurrencies because regular currencies and virtual currencies are from each other in which they are two different aspects which do not need to have the main concern for each other because they take part of each other doing their roles and duties to their consumers as well as investors and many people are still into using banks even crypto are fast rising type of currencies that people do adore and enjoy. Banks must just take into consideration that they have their own purpose on people's life so banks must not hate the existence of cryptocurrencies.

ekalak manjeng

newbie

Activity: 98

Merit: 0

according to the article I read, because the interest rates of Bitcoin banks and other virtual currencies do not have the underlying asset as the basis of the price, can not be accounted for as there is no regulatory authority, and the lack of consumer protection using Bitcoin or other virtual currency.

goodfortune2018

newbie

Activity: 98

Merit: 0

Quote from: fuding12 on May 24, 2018, 10:09:32 AM

Banks have been part of our society for so long that we forget what exactly they do. We regard it as a bastion of security and stability. They hate Bitcoin because of that inherent instability.

When bitcoin is born, Bitcoin attracts a lot of public interest because Bitcoin offers a system that restores control and power to the money owner.

so, I think, traditional banks feel uncomfortable with the competition brought by the bitcoin system. Therefore, it is not surprising that currently the most frequent party to hate bitcoin is the banking party.

Its just simple many banks hate cryptocurrency because they have very close competition, some banks clients are now investing their saving in crypto instead of depositing into banks account.

fuding12

member

Activity: 133

Merit: 10

Banks have been part of our society for so long that we forget what exactly they do. We regard it as a bastion of security and stability. They hate Bitcoin because of that inherent instability.

When bitcoin is born, Bitcoin attracts a lot of public interest because Bitcoin offers a system that restores control and power to the money owner.

so, I think, traditional banks feel uncomfortable with the competition brought by the bitcoin system. Therefore, it is not surprising that currently the most frequent party to hate bitcoin is the banking party.

tidus_13

full member

Activity: 290

Merit: 100

In general, crypto currencies show that their size and value exceed even some of the largest financial institutions in the world. This caused banks to retreat and try to slow down their growth. However, even banks clearly do not know what they really want. After JPMorgan CEO Jamie Dimon famously announced Bitcoin "fraud", it is now interesting to see a report published by an investment bank that calls Bitcoin-ETF "holy grail for owners and investors."

chickenfried12

legendary

Activity: 1120

Merit: 1003

Causes of hate and control of the brands are not in their possession The reason why the commission rates do not go to them The reasons that are contrary to the winning policies Between 7,000 and 7,000 dollars in the loan Loan of $ 8000 in the sense of giving 7,000 dollars in the time Bitcoin 12,000 dollars to the guy, it is not a suitable instrument for banks.

yourmomy

newbie

Activity: 26

Merit: 0

It's simple. Banks are monopolists in the global financial system. This is the only structure that deals with the storage of assets and their transactions. What will happen when bitcoin comes out in the first place? Of course, he pushed the banks, as it has a lot of advantages over banks. Banks feel very much competition from the crypto-market. Therefore, they try to stop the expansion of bitcoin and other crypto-currencies in all ways. But it's inevitable.

seattlenonsmoker

full member

Activity: 251

Merit: 100

Having discarded all their rhetoric about the scope of the detachment, the banks largely avoided or opposed the crypto currency (Goldman Sachs, sensing the possibility of making a profit, is one notable exception), often referring to their volatility and the ease with which they can be used to launder money as a quality , which disqualify them from a serious relationship (although, as we recently saw with the US dollar, it is possible that banks need to rework this argument of volatility a little).

lodcoling

newbie

Activity: 504

Merit: 0

Quote from: altcoinanalyst1 on May 19, 2018, 05:25:54 AM

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

I think Bank take the Bitcoin as their rival. They think with the passage of time the banking system may disappear due to Bitcoin. Because Bitcoin is getting popular now a days. Moreover, as the Bitcoin is totally technology based and the technological revolution takes place all over the world, so the banking system may faces some difficulties. That is the reason of hating crypto currency.

I think hating crypto currency is not the solution for the bank. They should rather accept the technology. That will be great for world economy.

slackcryptoz

sr. member

Activity: 456

Merit: 250

When there is something new in the world, it gets support from some group of people and some will oppose it. From my personal experience banks have experienced a great loss after the existence of bitcoin and the cryptocurrency. Banks which support cryptocurrency has come up with plans of creating their own cryptocurrency while the rest tries to regulate with the support of government.

Nazir0012

newbie

Activity: 112

Merit: 0

i think one of the reasons why is because more and more people are getting into bitcoin which shows bitcoin but When banks should take the opportunity to join the world of crypto and can take advantage of it.

rebrik7

sr. member

Activity: 868

Merit: 259

CryptoTalk.Org - Get Paid for every Post!

It is obvious. Banks better than others understand how much the blockchain could be a strong and powerful player in the financial market.
They understand that it will take very little time, and the cryptocurrency will take from them the lion's share of all theirs incomes.
For this reason most banking organizations are against cryptocurrencies.

Cesarz

newbie

Activity: 44

Merit: 0

Quote from: buttonmc on May 24, 2018, 08:46:44 AM

The reason is simple, Banks are just affrraid that bitcoin along with other currencies will overcome their income for good.

Totally agree!

buttonmc

full member

Activity: 277

Merit: 100

The reason is simple, Banks are just affrraid that bitcoin along with other currencies will overcome their income for good.

Topic: Why many banks hate cryptocurrency ? - page 10. (Read 1949 times)