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 reason why many banks hate cryptocurrency and banned it rather than to use it because they see it us competitor for them. Now a days the population of bitcoin is spreading around the world. And the transaction of bitcoin is in demand. People choose bitcoin because it is easy to transact without a lot of papers to be presented. Unlike banks in order to make the transaction success you must present a lot of papers. 
Topic: Why many banks hate cryptocurrency ? - page 21. (Read 1978 times)
Actually cryptocurrency is a great technology of this era it made life much more easier and bring big revolution in financial activities.Cryptocurrency is an independent and no need of third party to make transaction you can make globally transaction with safety and quickly.Bank have threat that banks will loose value because bank transactions are too late and hurdle of paper work and people loosing interest in traditional banking system.
cryptocurrency will unbanked the bank. the bank will be of no use when crypto eradicated in the world and people will start patronizing it.
Banks hate cryptocurrencies because ,the banks projected that this cryptos will be treat to their financial business , and this cryptocurrencies will be a big competetor to their investment business, especially that banks offer low interest while crypto currency can gain more profits than banks.
Most of the banks around the world think of bitcoin industry as a threat for them with regards on financial matter i think. If cryptocurrency system was introduced to the citizens by the government itself and gets boom, financial institutes like banks might get much less customers which may gradually lessen their transactions and might end up for cryptcurrency to replace them which is hopefully not.
bitcoin gives us freedom. We control our own finances and secure ourselves, this means that banks will lose their popularity and bankers will be able to earn less money to play no matter what you just need to familiarize yourself with various ways of securing and backing up your own bitcoin wallet to make sure it is a safe deposit banks.
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 ?
for this to be accepted it has to be legalized by the government also have to be accepted as means of transaction nation wide where each an everyone can start using cryptocurrencies as a means of payment. with all this bank will never see as threat to them.
The government has not yet acknowledged the existence of bitcoin as a valid payment instrument for trading transactions. the government does not want to take risks, because bitcoin does not have central or state authority regulating bitcoin, so this virtual currency can be used for illegal funding and crime, such as money laundering, terrorism financing.
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.
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.
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 ?
In fact, the CEO of these banks are the ones that are against the use of bitcoins but the individual personnel that works in these banks are not against it because they see the potential in the coin. it has totally cut down the issue of centralization that these banks imposes on us. They have come to realize the most of their customers are running into crypto investment. This should even tell them how interesting it is and the profit that comes along with investing into bitcoin. In my country, you can invest millions of money with the banks but at the end of the year you gain nothing. absolutely nothing. Whiles day trading in crypto alone can pay my fees.
To be ruthlessly legit, however not purposefully mean, most investors don't have much tech foundation, and have presumably never perused a white paper in their lives, paying little heed to what fine organization they may have moved on from. They are in as far finished their heads with respect to bitcoin, as most tech-arranged bitcoiners are in a tough situation in the methods for Money Road. It will most likely take a long time for this super hole of foundation/learning to meet.
Banks are threatened by the more existence of crypto,as Crypto exposes their weakness and improves on the services they offer to the general public,
with cryptocurrency the transaction speed are relatively faster than what the banks can necessarily offer, the slag in the Banks cant be compared to the rapid movements in the crypto world. With crypto there is no external influence on investment and no tax applies, these are factors attracting the masses to crypto and away from Banks
with cryptocurrency the transaction speed are relatively faster than what the banks can necessarily offer, the slag in the Banks cant be compared to the rapid movements in the crypto world. With crypto there is no external influence on investment and no tax applies, these are factors attracting the masses to crypto and away from Banks
Bitcoin is certainly the most serious competitor for the banks, if it continues to be left then one day bitcoin transactions are more dominant than banks and this is certainly threatening the banks and can make banks disappear.
Banks do not like cryptocurrency only temporarily. So long as they do not understand them and have not prepared the infrastructure for working with the crypto.
Cryptocurrency is decentralized and does not require a third party to make transactions, of course this will be very contrary to the function of the Bank. if Cryptoxurrency is growing and growing, and if many people are using Cryptocurrency of course this will reduce the Bank's Customers, and bank customers will be reduced. automatic bank income will decrease as well. and this will hurt the bank, this may be the reason why banks hate Cryptocurrency.
That's exactly what must happen because the Bank will never compete with the development of Bitcoin until whenever.
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 ?
they hate cryptocurrencies, the way apex predetors hate other apex predator,
cryptocurrencies take money earning cattle or power away from them.
but many cryptocurrencies dont understand the pandora box they are opening, weakening the banking cartels will lead also to a much more criminal violent world. and people will support others losing their wealth, because they dont trust where he got that from.
Bitcoin is a digital currency developed few year ago and more valuable than several fiat that has been in existed for several decade,Banks can not comprhend where the value of BTC comes from,therefore they see it as an illegal currency, since it has not been officially approved by most government globally.
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 ?
They do not really hate cryptocurrency but there are a lot of investors in the market who prefer cryptocurrency more than fiat because people know that the profit is much better if they will place their money on bitcoins rather than on banks.
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