Topic: Why many banks hate cryptocurrency ? - page 30. (Read 1949 times)
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 commercial bank usually takes on the role of the middleman.
I think a lot of banks are embracing it to be honest, regulations are coming in, and im not going to shill anything, but there are a few promising projects which are gearing up towards introducing institutional money, investment operations and banks will go along with that ethos.
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 ?
Because people instead of holding money in banks, would prefer to hold their capital in Bitcoin.
Similarly, people prefer using bitcoin instead of transferring money through banks.
banks don't like decentralized nature of people owning money or else asset so they will shower their hate on cryptocurrency but sooner or later we should realize banks are also dependent on cryptocurrencies
of course due to Business competition...currently, banks that use paper-based systems feel threatened by the advent of Blockchain technology, Blockchain automatically reduces their power to control the customer's funds...
if that's for sure. if we look at the presence of bitcoin some people prefer to keep their money in bitcoin rather than store in the Bank. they also prefer to make transactions using the bitcoin system rather than via the 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 ?
Actually, banks wants to ban using bitcoin because they can see it as a competitor not a contributor. As time goes by bitcoin is slowly becoming popular worldwide because of its purpose, benefits and advantages that's why it attracts more users. And banks was threatened bybthis because they think if people starts to embrace this they wil slowly be forgotten by anyone and replace them.
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 ?
Because bitcoin lessens their investors. Many of them. Switched to investing in bitcoin and it lessens their profit as they make money using people's money to release loans and make profit from interest.
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 the main reason for that is the value if it continues it will change a lot of things in world economy if it goes against banks the banks will get into losses that's why they oppose bitcoin.
Because if someone use bitcoin, it will be harder for banks to control the money, because that person can easily move his money through the blockchain.
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 ?
Because Decentralised applications will create waves and have their issues with governance inherent to their nature, but centralised crypto currency will be more exacting and business focussed and develop within and on the edge of the traditional realms of finance.As far as banks are concerned this is just another technology to implement and take advantage of. The use of blockchain tech inside banks with R3 or with Blythe Masters and her new start up will really only encourage efficiencies and allow for staff cuts to be made thinning out the mid and back offices.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 hate crytocurrency because they cannot control as this moment ,like the government cant control as well. All the banks cant make any program that will connect them to crytocurrency,as they need the approval from the government. So they think cryptocurrency as competitor.
Crypto money transfers are both fast and cheap.
Banks do not like the crypto exchange for this reason. We learned the blockchain system through the crypto stock exchange.
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.
Many banks have begun to integrate the blockchain system into their systems. It's a big step for technology.
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 ?
Bitcoin is made as a decentralized currency wherein it is design to make the unbanked people to have a bank. But the bank that I am talking about is the bitcoin wallet itself. Bitcoin is a revolution against the unfair and unjust banking practices and the more people joining bitcoin the lesser the people who are going to banks. This is a sign that bitcoin is a threat to the banking system since bitcoin wants to replace the banks with bitcoin wallets.
Why wouldn't banks hate bitcoin, when people do not keep their money in banks again, no money for them to do business with. people leave their money in bitcoin investments so they make profit
Bitcoin gives you independence. You control your own finance and secure it yourself, this means banks will lose their popularity and bankers get less money to play with. You just need to familiarise yourself with the various ways of securing and backing up your bitcoin wallet to ensure it's as safe a a bank.
To be brutally honest, but not intentionally mean, most bankers don't have much tech background, and have probably never read a white paper in their lives, regardless of what fine institution they may have graduated from. They are in as far over their heads regarding bitcoin, as most tech-oriented bitcoiners are in over their heads in the ways of Wall Street. It will probably take quite a while for this mega-gap of background/knowledge to converge
Bitcoins will replace them and take away their clients, because it is clear that the freedom and the advantages of bitcoins is far better than holding your finance with the banks. This fear is the reason banks don't want to adopt it as part of their services.
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 don't hate cryptocurrency, there are just some people who doesn't believe in the technology because they know nothing about it.
bitcoin has been on demand and continuously emerging . and i think one of the reasons why is because more and more people are getting into bitcoin which shows bitcoin as a great competitor and banks banning bitcoin will make them still superior over bitcoin.
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