Topic: Why the commercial banks must hate bitcoin? - page 3. (Read 2073 times)

I think that banks refuse bitcoin because they can't collect fees on it  One of bitcoin's advantage is it have zero/low fees, while most credit cards are charging few percent of fees (by bank). They would lost the huge income on fees, so that's why they hate it. They are greedy

Very correct answer Light (according to me). Agree totally with your post and your thoughts. This reasoning make sense and is complete in its explanation. Thanks for the comment. 

A majority of the people on this forum are absurdly biased and quite illogical in terms of their belief that the "government" and the "greedy bankers" and so fourth are all after them and after Bitcoin. The harsh reality is that Bitcoin is a literal drop in the bucket in terms of financial markets - it makes little difference to any of the major players (both Federal and commercial banks). They don't bother helping Bitcoin because it's too much effort for little to no return. They occasionally go after people who use Bitcoin alongside their bank accounts because of their own TOS or money laundering or not wanting to deal with a customer they consider "high risk".

TLDR: The banks don't actually care that much - it doesn't make a significant different to their bottom line in helping Bitcoin (actually the opposite) so they don't.

Thanks for the comment. Then no one correct no one here. Everyone has its ideas and is free to express those. Very shortly:

1. If bitcoin compete with fiat the customer will remain the same with the bank. Explanation of this is in my main post. Then no loss if customer stay. You cannot be anonymous if you will use the bank so your second sentence have no sense. Third sentense same explanation with the first.
2. If bitcoin will be regulated it will be not more possibility to avoid nothing legit. Or better it will the same possibility which the people have with fiat money. Exactly the same. If bitcoin will be regulated the banks have no sense to not use it (I think) because of the reasons given in the main post.
3. If the bitcoiner will not use the banks it is another thing that have nothing to do with the aim of this thread. Here are discussed why the banks (must, can) hate bitcoin. If the bitcoiner use itself its bitcoins where is the bank here?
4. It is not possible that every bank make its crypto. Have no sense. How it will be the change of money between banks if this become true?. Maybe are 100 000 000 banks in all the world. Have sense that each of those have its crypto? To not tell that this activity can be hard to manage and totally out of the work made normally from a commercial bank.

These are my thoughts about your post.  

There are few reason why:
1. Bitcoin can compete with fiat, especially for online payment solution. With bitcoin, you can be anonymous & avoid big fees from bank, also bitcoin transaction is usually faster. People won't use fiat if they see advantage of using bitcoin.
2. Government don't like seeing their people using bitcoin, because they can avoid tax, fees & couldn't be tracked easily. So, they won't let bank or anyone to use or accept bitcoin. That's why most bank don't accept bitcoin.
3. Most bitcoiner won't use their through bank for various reason, such as you can't control your bitcoin or you're being watched by bank. Most Bitcoiner will use bank if they want to buy/sell bitcoin only. Bank can't get profit too much from it.
4. Banks are greedy & bitcoin is open source, so they make their own cryptocurrency & control it to get even more profit. Few banks already made their own cryptocurrency, but i think it's just like scam altcoin

Please correct me if i'm wrong

I read at various posts here at forum that the banks hate bitcoin. In the most of posts is not specified that with the term "bank" is meaning the Central Banks or the commercial banks. I think that they mainly or almost totally mean the seconds.

If is this the meaning that they give to this term (bank) used by them in these posts I don't understand WHY those must hate bitcoin as a currency. Bitcoin is a currency which can be used only in internet. So cannot compete with the other fiat currencies. They have totally other main field of use. Much more profitable than the field in which act bitcoin. Then, the only thing when fiat money and bitcoin can compete are because both can be substituted with the debit/credit cards. But even here there is not competition. If bitcoin will be accepted by the banks they will have more customers and more money. Will have even the customers of bitcoin. In other words will have they which use the fiat money plus they which use bitcoin. More customers mean more profit. There will be more credit/debit card in use for such bank.

Even there must be transfer of customers from fiat money to bitcoin it will be the same for the such banks. They don't lose nothing. Will have the same that customer which will not use credit/debit card with fiat money but with bitcoin. As about the fees they are in the "hands" of the banks and they can decide what fees fit to those.

There is nothing to do here the fact that bitcoin is a decentralized currency and the fiat money is a centralized one. This have nothing to do with the activity of the commercial bank. They work of the money. Whatever money it is and whatever it is the owner or if have no owner. For they is important that is MONEY. And bitcoin is.

So, who can explain me why the commercial banks must hate, don't use and even fight bitcoin as a currency, as I read in numerous posts here in bitcointalk?