Topic: Why many banks hate cryptocurrency ? - page 20. (Read 1978 times)
If you had a general store and a new store opened up with unique features and then eat up your business. Will you love that new store ?
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 ?
so they do not want to be here because there are many who want to invest in bitcoin and use wallets that have them because their money is growing and they are not afraid to lose their money because they hold themselves.
I guess many banks hate cryptocurrencies. But the fact of the matter is that many people don't know the power of cryptocurrencies as well as using electronics wallets, public and private keys, these are all jargon for general public. I believe that since cryptocurrencies do not have any sort of customer support many will still use banks. On top of that banks may come up with their own cryptocurrency ( which would be obviously centralized) added with customer support of their clients. The may negatively impact the actual use and principles of cryptocurrency.
Because banks are threatened by the cryptocurrency system wherein its features may suggest that we would no longer need banks in the future. If we will think about it, there are a lot of factors wherein we could actually consider not using banks anymore since we can store our tokens/money on line via crypto wallets. Plus it is more convenient compared to banks. So banks are rallying against crypto due to this reason.
Right. Banks have power while they're holding our money for us. They have control. With btc, it's giving back people control over their money. Think about it. Some banks won't allow you to buy bitcoin even through your debit card which, should be entirely up to you where you want to use it. They know that time will come when people will realize this.
This is still forbidden, but they will not be in the near future. For them it will be profitable. Just still thinking about how to enter it all.
Because banks are threatened by the cryptocurrency system wherein its features may suggest that we would no longer need banks in the future. If we will think about it, there are a lot of factors wherein we could actually consider not using banks anymore since we can store our tokens/money on line via crypto wallets. Plus it is more convenient compared to banks. So banks are rallying against crypto due to this reason.
Decentralised cryptocurrencies such as Bitcoin, which work using blockchain technology, allow users to trade directly with each other without the need for a middleman. In today’s modern day commerce a bank usually takes on the role of the middleman.
probably because bitcoin has a very good development and can make people become rich so as to get their customers out and switch to bitcoin, so that makes the bank fears seem to be from that factor.
No, majority of bank profits don't even come from retail customers. Banks do so many other thinks: they credit companies and individuals, they issue bonds, they even issue government bonds. They couldn't care less if the average Joe gets wealthy or not.I think the banks are just confused with cryptocurrency and for a time being their stance is "wait and see". Some banks are more explorative and they do their own research into crypto.
probably because bitcoin has a very good development and can make people become rich so as to get their customers out and switch to bitcoin, so that makes the bank fears seem to be from that factor.
Banks do not want to be replaced by a crypto currency, that is reason enough to explain why banks hate bitcoin.
Okay it’s a good question. Banks has a valid reason to hate cryptocurrency because cryptocurrency is the competitor of the banks. People nowadays keep their moneys in coins instead of bank.
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 ?
Cryptocurrency are competitor to the banks.If cryptocurrency become legal banks will be closed and they will face a huge loss. 
there are so many banks that do not like bitcoin because I see bitcoin has the advantage and has transparent transactions that make the customers in the bank switch to bitcoin and make investments and trading bitcoin altcoin, that's what makes banks very hate and fear with bitcoin.
Bank hate cryptocurrency. It because cryptocurrency is a treat on thier bussiness. Because if you see bank interest is so tiny. While if you saving in crypto currency there are big chances it will double or triple.
Because banks do not want to compete with crypto currency. Because they hate crypto currency because their business opportunities are getting smaller.
I think this is because the bank does not have a system to control or regulate the virtual currency is that why the banks are still prohibited from using it.
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 also sometimes think like this because I do not understand why so many hate Bitcoin. Starting from the Bank, the Government, even people like us. What's wrong with Bitcoin? Not that Bitcoin has helped the lives of its users? This advanced and great technology is hated by many people. I really do not understand the minds of those who hate Bitcoin. Hopefully, they soon realize that Bitcoin is very important for the future. 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 ?
The truth is not all banks are against Bitcoin meaning they have different approach regarding Bitcoin existence.There are few banks that really against Bitcoin but they are only few compare to the banks that supported Bitcoin like here in our country in which the major banks are in partnership with our local exchanges which is fully authorized by our central bank that if we convert Bitcoin to fiat we could use the banks facilities to withdraw and cash out our converted fiat. This is even due Bitcoin is not legal but not ban here in our country.
Currently, bitcoin or crypto related platfrom is handling small transactions like bill payments, money transfer and some is small purchases for groceries and others. This just shows that cryptocurrency/bitcoin will soon dominate what the banking industry is currently doing. Time will come that banking industry need to adjust and work in harmony with the current technology in order for them to survive.
Right.Instead of seeing bitcoin as a competitor for banks,why not see them as a helper to make bank's transactions become faster and more efficient for the people?Yes the fear of banks for bitcoin is already there but i don't think the government will permit bitcoin to replace banks even most of the people see bitcoin as more convenient in making transactions than still going to a bank to transact with limited money to withraw.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 ?
Well, i think you have a point if they adapt bitcoin. But they have many reason for sure why they dont want bitcoin even as partnership, maybe because they will affect the investors that the bank earn more compare on investing on bitcoin. Not all people are aware about bitcoin. Jump to: