Bitcoin Forum

Why banks hate bitcoin... And why we no longer need them...

What banks can do better than bitcoin. If bitcoin also have almost all features of banks.  Only must have an internet and you can use bitcoin already.

And bitcoin has faster transactions than the bank and more secure I guess.

Neh, you're wrong. IMO, bitcoins aren't that secured as compared to bank. Bitcoins, if ever hacked, you loose 'em forever but it isn't the case with the banks.

Banks are more vulnerable when it comes to identity theft as opposed to actually losing their funds, as we haven't seen many hacks of banks that have resulted in stolen funds. Typically it is just account info.

While Bitcoin's lack of chargebacks protects business owners, it can also harm users for the same reason.

The only way to get your bitcoin safe is to keep them on your hard drive wallet and by that you won't need a bank anymore. if you put your hard earned saving into bitcoin you won't need a bank no more and that's what banks fear is. if people need no banks anymore, governments and banks can no longer control us.

I would say that Bitcoin has potential to disrupt banks, but it's going to take a while for that to happen, not to mention many revolutions. People can be presented the facts of the scams the central monetary banks put on people, but until they act on it, it's not going to matter.

Plus you have to think about EVERYONE having to use Bitcoin... So with that in mind, how are people who are homeless going to use Bitcoins? Or people in third world countries? Blind people? There is a lot of stuff we have to realize will become issues in the long run of things if we really want to disrupt the monetary system of every nation.

Pro tip, OP: If bitcoin is better than banks, don't use banks.
Banks don't hate Bitcoin, they merely don't wish to deal with "Bitcoin businesses." Rightly so, because history has shown that such "businesses" are rife with failure and fraud.

Part of them not wanting to deal with Bitcoin businesses comes from the inevitability of them having to comply with additional legislation and restrictions on Bitcoin businesses, and chances are they won't be interested in getting involved until there are rules defined by the government. And the failure and fraud, that is a big part too.

That is a very true view point. Banks might could see this stuff as a type of "Ponzi scheme"/"gambling token" so they could probably justify not wanting their customers to deal with it at all and would suggest them staying far away from it. Specifically since they probably don't know much about it and what Bitcoin could do to banks in general.

Edgy bitcoiner rhetoric like "bitcoin maek legacy finance obsolete!!!1! U ded bankster scum!" probably doesn't help much either.

Because Bitcoin is decentralized, in bitcoin, bank or government dont have ultimate controll over your money, they can't controll it and bitcoin is very dangerous for their system,also banks have nothing to be better than bitcoin.
They hates bitcoin, but they love technology behind bitcoin, the blockchain.

Because bitcoin dosent need banks.

Yeah, you are right!
n the event that people will not use the standard payment systems, financial institutions will lose their business. But central banks will lose their ability to help economic activity to fall and rise.
It's quite common when people are afraid of losing the old and familiar, to get a new one.

It would be interesting to hear what experiences did people have with banks in various countires in relation to bitcoin.

Are there any countires, where banks have no problem working with bitcoin businesses ?
Do banks in other countries make it impossible ?

To what extent it depends on which bank you choose ?



Thanks for your input.

Well, you pay insurance for those bank hacks. The banks simply pass on the expense to you. They have to because online banking is simply not that secure.  Bitcoin is far, far more secure, far faster, and far cheaper. Indeed the fastest, cheapest, and most secure banking system in history. Which are among the reasons it is worth billions and will likely be worth trillions.  

Bitcoin has got everything secure equal or more than that of banks. Another important factor is that bank has got more acceptance than bitcoin, as bitcoin is in its early days of growth.

Banks don't hate Bitcoin. They just pretend to hate it while they build up their own stockpiles of it.

Hmm banks hate bitcoin but in reality, banks are building up their own centralized blockchain off of the decentralized from bitcoin. Funny how these banks  create their own blockchain while hating the concept of bitcoin (which seems to be ironic, in my opinion.)

Banks are centralized and regulated by government laws but bitcoin cant be regulated or made centralized. Actually goverment dont like to get messed with possoble money laundaring and terrorist issue which is possible bitcoin transactions thats why both banks and govs hate or hessitate to accept bitcoin.

Bitcoin is amazingly secure. Just ask anyone with coin on Gox. Or with pirateat40. Or with TF. Or the guy who just lost $300,000 (check this sub now). Or the guy who just lost $10,000 (ditto). Yeah, those coins still secure, just in different hands.
Bitcoin functioned as intended :D

O yes! Im also 100% sure they hoarding huge amounts of BTC
Secretly, behind the curtains some serious trading is in motion.
They gather it for the future combined loans. Some county's still allow that kind of lending
witch is sad :(
Who knows, maybe some of the banksters own bitcoin mines? That would have sense.
So I think they love it, love to the core :) Just cant show that affection yet.

Banks hate Bitcoin because they can`t control it. They feel threatened by it. But also they find the blockchain technology very interesting and I`m sure that they will try to implement it for themselves

This is quite a bold statement to make, do you have any evidence of this? I spoke to a big investment banker a while ago and he reckons Bitcoin is no competition for them. We are but a mere ant in

the bigger scheme of things. Yes, they do not want people to manage their own finances and Yes .... They do not want to relinquish any market share... but they know that they can develop their own

Blockchain type technology and nobody can touch them. At this stage, we are still that little ant, and they can squash us like a bug.... BUT a ant is part of a bigger community of ants... and when they

grow bigger... they can collectively deliver quite a punch.  ;D

The thing is, bitcoin's market cap is way lower than what banks could actually make. $7 billion is just a minute amount compared to what banks are keeping and making in such a small time-frame. They probably could create their own blockchain, but I think they would never, ever touch bitcoin or manipulate/trade with it.

Banks are hating on the bitcoin because they have no control over it, they are only want the system that is behind it.
They are as example love the blockchain.

Yes you might be right on that.
Didn't thought about volume, thats a fact its small bucks, relatively  ::)
BUT we have to take in to consideration that those are  banks we talking about.
The most greedy institution on the planet, maybe accept church.
Do they allow that money to go under their nose?   

they usually hate bitcoin because it is a thing that makes banks disappear in a long run in my opinion and it is a thing that allows people to use their bitcoins freely without any control of governments

i think that banks are afraid that they will become completely extinct in the near future because of the impact of bitcoins on their business, i hope that one day this revolution will happen

The banks are just hating on the bitcoin because it has a good future and its also that they do not have the power over the bitcoin.
They do not like the fact that they also cannot control people plus it can be used for transactions that have to be untraceable.

True they are afraid of bitcoin, because it is better then how they work. They billions of profit of overcharging us makes them afraid.
It's good they are afraid and luckily for us to change things.

I think banks hate bitcoin because they dont control the price of it. They cant understand the flow of the price so they dont know what they do. But i think why they accepts it if they dont control it. If they dont know how to help banks using bitcoin

Banks do not hate bitcoin. They are not interested in it and see btc as very unstable asset. But they like the technology behind it.

BTW it isn't faster than a fast track payment here in the UK, also bitcoin is a lot more insecure and lot less foolproof than a bank account.

Every business hates the competitor and bitcoin is not only competitor to Banks but it has the capabilities to completely wipe out banking system from financial sector.
That said,I strongly feel that bitcoin and bank can co-exist without any problem

Bitcoin is just better and banks want to compete it but they can't do it cause of goverment and other bank politics.  A lot of people even hate other people when they worse.

Do you have a source. whether bank really hate bitcoin?

if it is true, in my opinion because bitcoin will be superior than bank.

because indirectly bitcoin will kill the bank. slowly banks will start to disappear and be replaced by bitcoin. bitcoin provides convenience and generosity that exceed the bank. bitcoin better than banks.

Because bitcoin is there competitor and if the time happens all people use bitcoin and do wallet to wallet transaction  i can say half of earnings of bank might dissapear and thats a big effect on banking industry and if that case happen i think government will take over to solve the problem on bitcoin. And i dont really see in real life that banks hate bitcoins maybe they dont bother to look at it because bitcoin has no affect on stocks market for its existance.

bitcoin has no central authority and it is  the future of monetary system . imo banks are afraid and hate bitcoin because bitcoin  getting more popularity and banks will be left for a few  people in the future.

Why does everyone think Bitcoin is a bank? Are dollars banks too? Before I came to this forum I used to think banks were places where you go to get a car or a home loan. I've searched all over the current Bitcoin client and haven't found the loan application tab.

you have a good point there, but sooner in the furture it is possible that more companies are paying their employees with bitcoin and because of that more companies will accept loaning with bitcoins.

I don't think bank hates bitcoin, who said you, because if you see that bank is doing to safe our amount, so bitcoin is also just like money, but it is a different that bitcoin is a online money. otherwise you should safe bitcoin, xapo is best wallet, you should create a wallet in your mobile and use the hard password.   

I don't think that banks really hate bitcoin, I think bitcoin is better than banks as you are in full control of your money if you know how to correctly protect them, but regarding the blockchain technology in the near term we should see some big banks starting to copy it or to implement it. However if you don't know or are not sure that your bitcoins are safe, stick with a bank then. Better safety for now.

well bitcoin pose a competition to them in the distant future, bitcoin is sucking fiat value right now, if int he future the price skyrocket to a unbelievable level, it may pose a high threat to them, that's why they want to hinder it before

we are in the "then they fight you" phase now, so prepare for the victory because it will happen soon enough

Yeah i really agree i dont think bankers hate bitcoin becuase overall bank have different ways and side to earn. Physically and online and i dont think they bother to keep an. Eye to bitcoin. And if happen bitcoin  is there and controlled by bankers i think the price of it will Be controlled and fixed, but for now i dont see the point bank hates bitcoin.

Bitcoin is always a thread for the banking system so banks oppose bitcoin, as quoted above bitcoin is reaching higher and higher positions as days pass and when widespread people will be more aware of it and there comes a chance for people to shift from banks to bitcoin.

perhaps for that reason the banks and the government is rather sensitive to the news da excellence bitcoin. so they are a bit annoyed with bitcoin but I do not think that is a threat to the bank bitocin

No,they not hate bitcoin,they just afraid with bitcoin,they worry if bitcoin will take over ther consumer for more like use bitcoin than use bank account. but nowdays bank are not too worry about it,they start learn about blockchain technology. perhaps they try to applicate bitcoin technology to banks,i think impossible.

I am sure behind the scenes banksters are completely whalish on bitcoin and are amassing by their thousands but maybe we don't know about it. I can't believe they wouldn't secretly invest in it as a hedge but that i just my guess. Only openly they don't want to declare they like bitcoin because they represent fiat currencies and governments.

Do you have any proof or statement that they said they hate bitcoins?? They didn't
Some bank are already adapting bitcoin and blockchain technology. Maybe some of the banks too will do that. Banks will make/think another way in order to keep them in business and get their profit.

Agree. There is one bank that I know that is connected with a bitcoin wallet website. That way people could easily withdraw their bitcoin through fiat. I think that is a big step there. They are considering the possibility of absorbing it.

banks hate bitcoin but we still need bands!

banks hate bitcoin because bitcoin is threatening their existence, when people use bitcoin they are not going to need banks for their money transfer and holding money so they will lose a lot of revenue to earn money.

but banks are useful still for example for some place to put your fiat and they keep it secure while paying you an annual profit on your deposit. also they are useful for loans that we are all using one way or another.

false banks trade with bitcoin. 8)

Was there ever a news that said banks hate bitcoin? I'm sure banks are aware of crypto currencies, and for all we know, they might even be making studies if they could have a product similar to bitcoin. Something that's less regulated, easy to understand, and serves many purposes other than as payment.

Banks hate Bitcoin because they will get less and less customers when people start to use Bitcoin more and this will hurt the business and profits of the big banks. I don't think the banks will lose half of their customers but still any account holder is precious for them because they receive a lot of fees.

I don't see it as hate, it is just that bitcoin is competing with them in a very lucrative market. They don't want to lose that profit so they fight bitcoin in every way they can.

In fact and whatever it is,the bitcoin still need bank because bitcoin values depend on condition of currency,where the money spinning is inside bank.

They hate bitcoin because they dint control the price so the fees in their service is not accurate so for me thats only the reason that i kno why banks hate it. And i think other saving in bitcoin wallet that savings in banks so the people dont need banks if they know how to use bitcoin

Bitcoin could do without banks, just watch localbitcoins. But it is easier for most people to buy/sell using a third party like bank, but on the long term bitcoin can and will work without any interference of any bank.

Banks don't hate us! They love us! Or not? ::) ;D
The central bank system as we know it exists round about a century now. It's time for a change I think.
Banks will continue to exist.But they will have to deal with competition where they can not pull the plug and just continue laying back and rubbing their own fat bellies.

Bitcoin removes the necessity of third parties taking massive amounts of fees to move funds, of course they are going to hate it. All those leeches living off inflated fees specially people like Western Union and Paypal, are about to get deprecated by a superior way to move money. Now with Steam you can buy games in a cheaper way, it's only the beginning and it cannot be stopped.

Banks hate Bitcoin because they can`t  apply taxes to it.
 :)

they hate because they know bitcoin can give them threat,bank afraid all people start leaving bank and choose bitcoin for their payment and investment,and this year they scared this is gonna happen.

Yes that would be their idea to come up with a plan on making some profit also in this free currency. They dont want anything that makes human free. They all want it to be controlled.

I think the banks hate bitcoin as they are unable to recognize that from where the users get that money/bitcoin and it is a compulsory rule of banks that banks should have to to get access to all of those data about the money input and output and other resources.

probably the fact that some day the will be put out of business is the main reason

Obviously banks will hate bitcoin. This is mostly because bitcoin is not a centralized currency and they dont have the power to control it fully in their own terms.

I wonder if any governmental banks will ever accept bitcoin deposits or exchange. They will always stay away from it.

If banks really afraid from bitcoin then yes it will be that only reason that do not want to lose their users who keep their money in banks, as if everyone leaved banks then they will not earn that amount which they earn from their customers.

bank hate bitcoin because they will shut down if bitcoin success
and even now, many competitior such as Hong Kong ANX, justcoin.
these company do similar thing like a bank

Banks hate bitcoin because we don't need them anymore when bitcoin rise higher and higher.

Bitcoins bank would probably our wallet addresses.

Banks hate Bitcoin because the value is going to rise more and more and it is also becoming more popular so that is nice for the currency itself.
And the transaction cost are also much lower than the banks and it happens also much faster so that is the nice thing of Bitcoin.

I know that some banks in my country are blocking payments to certain Bitcoin exchanges, I've always wondered why.
I've read some announcements about this and they say it's because they want to 'protect their customers', which is obviously a load of bullshit.

I think it was KBC.

You are right, but if banks also adopt bitcoin and they start to provide different services for bitcoin users then I think they will earn a good profit from it and that profit will be more big then their present earning from the savings.

No banks do not hate bitcoin , they only follow their rule by the government and that rules are that, the banks should have to collect all the data about the earnings source and the income of the person who want to keep their money in banks and it is not possible with bitcoin.

Banks does not hate bitcoin, they are just trying to find the way to cheat it, to take the most profitable benefits from us... :P, but you are in truth, we dont need them, but this "change of mind" is not easy for most of the humans, no, we are not ready to do "that step" yet, maybe soon...

By looking at this article it seems like banks doesnt hate bitcoins i even saw other banks try to copy bitcoin by making a same system of bitcoin.  http://www.coindesk.com/8-banking-giants-bitcoin-blockchain/

Nope I think the banks didnt hate bitcoin, They are merging with it, Here in our country we can cashou out earnings using bank accounts

Yes, the banks should have to provide their wallets and have to invite people to use that wallets so in this case banks and governments will get their profit and will then do not hate bitcoin but they will start loving it.

Banks love the blockchain, though.

Can you have blockchain without bitcoin (or any other crypto-currency) ?

Don't think they really hate them it's only the way you can get a coin.
because a coin is real gold and coins can be sold for gold. why would they hate their money isn't gone

Banks are hating Bitcoin because there are a lot of people is going to use Bitcoin as their payment method so they dont need the banks anymore and that is the reason why they hate it.
But that will be also the future because as you can see now you see also that Bitcoin is getting more acceptable.

Banks like fiat more than the bitcoins

I think a lot of what people have said already is spot on.

From what I have gathered about banks though.. bitcoin at present is just a pimple compared to them.

They don't care anything about bitcoin and don't expect it to go anywhere.. but they love bitcoin for bringing them blockchain.

Banks hate bitcoin because we already have an online bank, our wallet is already our bank for our bitcoin.
In that case, the work of banks will be lessen and it can be a threat to their industry if people
will shift into bitcoins.

But I do not think so. People may skip using bank if they find bitcoin suitable for all their financial needs. I believe banks may fear on bitcoin for this reason. In my personal opinion, bitcoin will replace the need of banking system in our real life. Bitcoin will be the world central bank.

I think the main reason is why they are hating on it is because its not controllable by them at all.
They do not have any powers on it, although they are hating on the bitcoin they like the blockchain system...

You are right with that. we won't need banks anymore if all people will use bitcoin.
We can just easily secure our money with blockchain and other btc wallet address providers
with our private keys.

You are also true, but the one thing which is becoming problem for the bankers is that bitcoin is anonymous and any transaction of bitcoin do not bring any data about the money that from where that money has came, and it is against the rules of a bank that a person bring some money do not provide source that from where he has earned that money or from whom he got that money.

but again I agree with you as if bitcoin increased to a wide space of the world then they will provide a solution for that matter.

simple, they cant control bitcoin. So... they hate it.
Imagine how much money they could have in fee's if bitcoin doesnt exist, and in the future this number will increase even more.

Yes that's true, the main reason that banks hate Bitcoin is because it's decentralized currency, could be used worldwide without issues and also having a little fee, less than banking fees usually.

Right not only less transaction fee, in every aspect it is a thread for the banks, if bitcoin is legally accepted then people start to adopt this virtual currency than going for banks that's why banks hate it.

yes they can't control it but when it become popular bank will use it as foreign currency :-\

Banks hate bitcoin because bitcoin is building up a parallel economy which is anonymous in nature. Banks and governments will be furious if money is free distributed in the economy without their intervention. Money is the most powerful weapon to control people and if it is being distributed freely, the power of control will be shifted from their hands.

That's the reason no bank will support the bitcoin or blockchain technology.

Banks doesn't think bitcoin to be a thread. It's an advancement in technology which might be adopted by banks for their betterment. But this adoption won't affect bitcoins growth.

It seems banks do not hate bitcoin, because in a place I do not hate banks bitcoin. Maybe I think banks and different bitcoin and no linkage so banks do not care about bitcoin. As far as I hate bitcoin, and bitcoin is the government prohibits.

As Bitcoin is not controlled by banks with the value equivalent to 7 billion USD. These amount will be controlled by requtable bitcoin companies like ANX, BitPay, etc.

Banks don't hate banks why would they hate them bitcoin will never be the number
one paying method. paypal and other methods will always be first and uses real money so the bank is just happy that the bitcoin isn't that popular.

The tech behind the Bitcoin is called blockchain methodology which cause decentralization and cut down the role bank's role in financial field. There is a AisaWorldExpo in HK on 18 May. You can know more about it.

Banks are happy at a moment that bitcoin is not popular yet, but what in future when bitcoin gains popularity? Banks are aware that bitcoin can be a threat to their system in future.

Banks don't hate bitcoin, they are actually interested on it. Just struggling with the learning curve.
But to the end banks are made for profit from the economy, no mater what form it takes.

According to expert bitcoin can disturb the economics situation that is why bank doesnt agree bitcoin existed, because the less people using fiat the cashflow in the country will be disrupted, in order to balance the economic we still need bank to exist

Agree, they cant control it so that they hate it. But why they accepts bitcoin if they cant controllable this coin ?
Possibly, it can cause a bankcruptcy of a bank so that they hate it. Or many people using it and others dont need banks anymore

If you will think about it. Bitcoin is like a bank also. You can invest your money in it. You can transfer money using it. Your money is also growing. A competition could be the one good description not hate.

That's why company hates competition because the profit will be lesser if they have competitors.
Since bitcoin is just like true money but online currency, this will be a big threat to banks.
With fiat money you need to withdraw your money to ATM, unlike bitcoin you can buy, shop online convenient and easy.

Banks hate Bitcoin because there are now a lot of people that is using Bitcoin so that is quite bad for the banks because more people are going to use Bitcoin as their payment method.
And that would be only nice if there will be more and more so people are also going to promote it now.

Because now bitcoin is there, they won't be able to rip-off people with high fees to transfer people's money overseas. They got huge mad.

Really? Where did you get this stats?

How much is that "lot"?

Because Bitcoin is filled with all the conveniences. Starting from creating wallet, transaction fees, and selling or buying activity.

Bitcoin usage in general doesn't really bother the banks but more the fact that people can now store money without needing banks. That's what makes them scared.

Yes people have their own bank in the form of bitcoin wallet and people have total control on it and they can access their funds 24/7 and even can transact 24/7.

Well with bitcoin we can do almost all things banks would do for us with their fee for their services.But my wife told me that some people got jail because of bitcoin,i believe they were doing bad things related to it.

Banks require identity proof of users who hold an account and plus the money we transact via a bank is white money while bitcoins are black money. That's why banks don't support this currency but they haven't yet closed any account dealing with bitcoins. It's just an FUD that they do. It's because people used hack accounts to buy bitcoins that many consider that banks hate the currency which is not the case.

Indeed, banks are hating that they do not have any powers and the bitcoin can be used by everyone.
You can have a lot of money on it with letting know the bank you have this...

Why the fuck would a bank care what money their business is denominated in?

Do you think banks in the US are worried that their business isn't denominated in pesos? How about Mexican banks, think they're worried because all their loans aren't denominated in yen?

Governments couldn't properly control, tax and carry insane commissions on banking movements if everyone used Bitcoin, that's basically it. Government losses control over people's money and that's why they don't like it, and we all know governments are in constant debt with banks, so just connect the dots.

And totally not because Bitcoin accounts for over 40% :o of criminal-to-criminal online payments  (http://www.econotimes.com/Europol-Bitcoin-accounts-for-over-40-of-criminal-to-criminal-online-payments-97270)

I do not think banks hate Bitcoin. They will surely find a way to become big holders if it goes mainstream, and to be in control of money, as they have always been.

Agree with you. As we all know that banks are always finding a way to get profit, and maybe they treat bitcoin as a competitor. We don't really know what they'll do, i can only guess they will just adapt to it or the blockchain technology maybe.

Banks knows the value of  blockchain technology and they might adapt it in future and they also know that are gonna face tough competition from bitcoin in future.

because the current bitcoin bank could take over the service. all financial transactions service owned by bitcoin. most banks will be afraid when bitcoin began increasingly recognized and used by many.

Everything is in the control. Cause of that world is the big shit right now. Banks doesn`t exist from yesterday, they are here for centuries and they will stay here in future.
So i agree with you people that banks dont like it cause they cant control it, they cant take some fees for them like they always do.
Fuck the banks.

Banks hate bitcoins because its a true competitor of them. Bitcoins has low taxes, no setup fees, no upfront charges. So people will be more attracted towards the Bitcoins as compared to banks

Banks hates bitcoin because they can not control bitcoin and they can not become regulator for bitcoin.

Banks hate bitcoins for the same reason they hate Beanie Babies -- they can't print them out of thin air. Not like their worthless fiat scrip toilet paper.

One more reason is here, because most of the people in the other countries are using their money into bitcoins, than banks faces the lose. because now people refer convert their money into bitcoins, instead of save their money into bank account. so bank face the lose.

And they're getting less transaction fees since people nowdays uses bitcoin in transferring money across the world.

Realy, do the banks hate from BTC? I dont think so. The banks dont interest with BTC.

Well banks has an eye on the blockchain tecnology and they trying to make one for them as well,lowering the cost saving thousands they arent being able to make at the current system paying huge fees to transfer money betwen them.There is no hate banks control fiat money that is 98%if not 99 % from all money circulating bitcoin has just a bit money into it.Bitcoin had atracted banks to they save costs,they may dont like it be decentralized but they saw the potencial into it,and who knows if they wont be making their own crypto coin and sharing dividends with the owners of those.

Bitcoin is an tough competitor for banks and banks knows that this competition can go to a higher level in future if bitcoin gets more popular and that is the reason banks are scared of bitcoins.

Yes because of the low taxes, no fee and no any other charges, people are attracted towards bitcoin and banks are remained at a little back in the matter of investment, but for the banks it will be better that they start some services for bitcoin, their profit from it will be sure.

To be honest i don't know where did you found fact that bitcoin is hated by banks. They will try to kill it one day when he becomes more stronger, (when he becomes threat) but till then bitcoin is not important for them. This is exaggeration.

I think most of them don't even know what's bitcoin  ;D

Me to i dont know why banks hate bitcoin while mostly of banks dont really know bitcoin is existing in this world i merely disagree for the thoughs that bank really hate, they have good partnership bitcoin is nothing without banks, and for those banks who knows bitcoin maybe they are hate it because of low fees in every transaction

Probably because Bitcoin is fairly anonymous, they can't take any part in the transactions as a middleman and it's decentralized.

I think they didnt know how bitcoin works.. and they are affraid about scams.. because many scam and illegal about bitcoin thats why they are hating it..

Banks dont like the bitcoins

Yes, I agree with you, banks do not want the flow of money to bitcoins and they want that people do not invest in any other scheme or plan, but only in their banks, so that they earn some profit with that.

I think they can control and regulate bitcoin and can device a system for it, they should have to start a wallet system for it or have to start an exchange system for it, with that they will have some control on bitcoin and people will need them to store their bitcoin.

If people store money as bitcoin, then it takes away from the bank's business.  The banks use depositor's money to invest and make more money from it.

Yes and banks are aware that if bitcoin gets on the mainstream then it will be huge loss for them in terms of customers and also in the monetary value.

Every major financial institution around the world is aware of Bitcoin and all of them are at least researching the technology.  The smart ones are building prototype systems built on the tech.  Some or many of them may never touch Bitcoin the crypto-currency, but they will all use the tech at some point.  I believe many of them will actively hold and exchange Bitcoin at some point and a number of them very likely hold some BTC right now.

they already knew about bitcoin, even they are interested in technology behind bitcoin yeah the blockchain, but they are aware of bitcoin, since they can't controll it, as we know that banks make money by charging fees for services they provide and by charging interest on money that they lend, if they adopted bitcoin they will earn nothing,

Wrong if banks enter into bitcoin world they will try to control and a lot of pumps and dumps should happen as they are able to invest any ammount into bitcoin.Who would earn almost nothing and take a huge risk would be us small owners of bitcoin,banks has their services that get them a huge interest ,they arent affected by bitcoin at all as the most people trading bitcoin has to use bitcoin to moove the money in and out taking their fees.

banks hates bitcoin maybe do not get bonus or fee of people, if people are moving to bitcoins
and it's hard to control bitcoins because bitcoin is anonymous and i think its very good for privacy.

All they would have to do is start mining in order to start making a fee of of getting people to move Bitcoins. ;D

As for your other points, though, this is exactly why governments don't necessarily like Bitcoin; they can't control it. Technically speaking, they have no way to control it outside of owning 51% of the hashing power, and at this point that would be a monstrous investment for any country and would likely not be worth it until Bitcoin becomes a big financial entity, and then it would be even more brutal for the governments to take it over due to the sheer number of hashes they would have to be able to procure per second.

If banks use bitcoin it will also save the dollar and banks will get hold of a controlling interest in bitcoin. It could take 50-100 years before Bitcoin will be where you see it .

I think it's not the reason that makes hate bitcoin bank. banks will not pull its fee or as of bitcoin. and the bank can not control anything. it is not the authority of the bank itself?
so I think the bank will not hate bitcoin maybe for this time

Banks are hating Bitcoin because they also see that Bitcoin is getting more popular and more people will use it as their payment method and that is perfect for the currency.
It works also much faster and better but you have to know that it can takes a long time until the value will be more.

Because they know that bitcoin is a better system than banks.

Bitcoins are probably going to drive them out of business. That's why they hate it so much.

Lol ith the reasons that make no sense. even the owner of banks in the country had not yet know what it is bitcoin? so this thread is about "why banks hate bitcoin" is just speculate person only. not all banks hate bitcoin a case of me proving that many people do not know what is bitcoin? then why can hate bitcoin? lol

Might be. If bitcoins will be used as a good investing currency to other mutual funds or other trending funds then it will be a hell of good outcome for bitcoin holders. We know what banks do in our savings that are being hold by them. They use it for their own profit. While they give us just the small amount of what they earned.

Probably, but I think bank hates bitcoin is because they cannot enjoy the service of bitcoin only few bitcoin wallet providers are earning with it without interest unlike banks they are always thinking about profit and interest.

What are you talking about? Bitcoin is definitely more secure than a bank. If a bank gets robbed, there goes all your money. If a bank gets hacked, there goes all your money. With Bitcoin, you can get a paper wallet and be completely safe.

what? really?
maybe it is like this where you live. but here when you put your money in a bank as a deposit they should protect it on their own. so it doesn't matter what happens if the bank is robbed or burned to the ground they still have to pay you back.

That's right, it is the responsibility of bank to protect the money of their depositors and if ever hacking or robbing happened to them.
They should still give the exact amount of depositors deposit to them.

Banks are hating Bitcoins because there are now more people that is using Bitcoin as their new payment method and that is nice for the currency and bad for the banks.
So the banks cant earn more money with it and that is why they hate it.

The big banks don't like Bitcoin because it offers more benefits to end users than traditional checking bank accounts. That's one of the many reasons why some people are closing their bank accounts and flocking to Bitcoin instead. Also Bitcoin can be used as a savings account if you are brave enough to buy and hold coins for the long-term investment value and the interest rate will be much higher. That's why the Blockchain technology is sought-after by fiat financial institutions.

Yes, when bitcoins turns into full fledged investment option, then banks will face many difficulties with their profit levels, like people will go for only bitcoin investments because bitcoin will be more safer and more profitable than the traditional bank investments or mutual funds.

And putting up a bitcoin wallet, doesn't need a money or maintaining balance for opening it. Unlike opening a savings account to the bank, you need to have money for the fees and you need to deposit to have a maintaining balance.

Although banks and bitcoin have differences but I think it does not affect anything on them. Banks do not hate bitcoin, because believe bitcoin will not affect anything on the banks.

Banks are hating Bitcoin because there are now also a lot of people that is using some Bitcoin so they cant earn some money with it anymore and that is the baddest thing that can happen to them.
And that is namely because the world is also getting more digital so that is perfect for the Bitcoin itself.

Well yes, banks overcharge customers highly on the fees The same telecom operators did for years with buying minutes.
With bitcoin consumers do have an alternative which outperfroms the old way of sending/receiving money.

What I am interested about is how companies, eventually will embed bitcoin in their daily operations.

But don't underestimate the people's stupidity when it comes to being too lazy to change what they are used to do, even if they get benefits. I mean I think as long as dollars get accepted everywhere, it will be the leading currency, unless things don't change a lot, I don't see Bitcoin replacing banks altogether. I think they will coexist, and some banks will deliver bank-like services for those that are too lazy to take care of their own Bitcoins. But it's yet to be seen if Bitcoin can replace the entire banking industry which would mean it replaces dollar too basically.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

The banks never take anything away from you, they just devalue what you have. Thanks to inflation, we can see that nothing is taken from us, rather numbers made bigger and our slice of the pie decreases in value constantly.

I would personally invest in other commodities and items with a majority of my saving money, at least there they can kind of keep pace with the rate of inflation and make it so that I have some value in the future from what I bought now.

yes If we are making here bitcoin wallet then nothing they are charging as compare with in bank we are going to make account they are charging too much money that's why people are loving bitcoin.  

Actually, most of the reasons are here , because the number of the people are increasing which is using the bitcoin and other coins currencies, so that's why bank earning of money is going down. you know all banks are depend on money, when bank earning will be slow, so it is not good for all banks.

I think this time the banks are competing with bitcoin. maybe most people already pulling their money from banks and invest in bitcoin, so I guess because it was a bank hates bitcoin

I would have to disagree that "Banks are hating Bitcoin because there are now also a lot of people that is using some Bitcoin." In fact, banks would love to use bitcoins because many people are using it. I agree though that banks would hate bitcoins because they can't control it.

I think that one of the reason why banks hates bitcoin is that people are moving their funds from their bank to bitcoin and are not coming back to the bank, the more people leave the bank the less money banks have in circulation.

A lot of people still using banks and also bitcoin users are maybe 3% of all bank users. So i don't really think that contest is the main reason. But i don't know why bank should hate bitcoin?

I dont think they just hate bitcoins but they dont need them so they dont pay attention to
the coin. Only thing matters for them are gold and people their bank accounts. Thats all what matters to them
its not that they hate coins they don't need them.

I don't think they hate bitcoin but they are scared of it as they know if bitcoin gets on the mainstream they will face tough competition from it and might loose many customers.

Bitcoin is the glass slipper that banks will never fit into

bitcoins sending option are less.   ::)

Banks hate Bitcoin because people are moving to Bitcoin and they are losing their business. But most people that have Bitcoin, also have a bank account.

Well, IMO, I don't think that those who  have bank accounts are starting to move their money from fiat to bitcoin, most of us don't invest that much in bitcoin...So probably that's not the issue why banks would hate bitcoin... I think it's more like they won't have profit in bitcoin because it is not under their control...Most probably if bitcoin can be deposited under the control of banks, then I think bitcoin would bloom faster which is I think is like a dream( could never come true) ...

Yes, bitcoin will make banks suffering with lower profit making. When most of the people go for bitcoins payment system, then the chances of making average profits for banking would be much difficult. Obviously banks will start implementing bitcoins systems within part of their services.

More like to dump the hoard on the very worst moment, in an attempt to crush the price.

Bank dont hate bitcoin. Government does hate bitcoin. Theres no tax at all you we can move our bitcoin freely where ever we want and its money. they cant control it or trace it. They cant put there hands on the neck. We can put billions of dollars on bitcoin. that they will not know just wash it and walla all things is now cleaned.

This is most common and expected result of bitcoin's arrival into financial world. How long banks can cheat people by overcharging them. Bitcoin will help many people to get their own banking even they are not eligible for traditional bank accounts. Bitcoin is going to be a new bank system for every human.

Yes that is why banks are getting fear about losing their customers and becoming hating bitcoins system now a days. But only the more beneficial and advantages thing will survive in the competition between bank and bitcoin. But now itself we can predict the survivor would be bitcoin.

Bitcoin has more advanced financial system and providing more fast services than any traditional baking system, it has very low transaction fee as compare with international funds which takes a lot of days and charges very big fee these days people are using this method for fast transaction around the world and that is why banks are worry with this situation.

I think bank and bitcoin are different thing.

Bitcoin is a currency meanwhile bank is a place for keep your money.
I do not find any connection between them

Actually there is more to it than seems at first glance. What will you do when you want to send money to your family in another city?
You don't put banknotes into the envelope and send them via traditional mail, right? You use bank transfer! With Bitcoin you can do the same thing but you eliminate 3rd party from the equation.   

It easy: banks hate Bitcoin because Bitcoin don't need any banks. With Bitcoin you are the bank of yourself

You are right. When we are realizing the advantages, we will go with using bitcoin over traditional and killing bank system or paypal kind of payment processors, we could definitely say people will forget banking system in near future itself.

No I do not think that way. Progress and improvement of bitcoin later in my opinion will not affect the banks because of the fact that many people are cashing in bitcoin results through banks. It is proof that bitcoin is still dependent on banks. Moreover bitcoin is still based on the currency. So I think it has no effect, and banks do not hate bitcoin.

Not for now, because value of bitcoin is rely with USD. We know basically money rotation is centered in bank.maybe bank can losing their customer but value of bitcoin controlled by bank.so i think bitcoin can survive if bank survive too.
 

banks are generally against bitcoin because bitcoin can in some ways take their place in the world. i am not saying bitcoin will replace fiat and replace banks but i say it will at least take a big chunk of their customers and revenue and that scares them.

I think that banks hate Bitcoin because some people rather invest there money into Bitcoin then saving there money at the bank. The banks cannot make money this way.
So I understand why the banks may not like Bitcoin that much.

Not true if we take money from banks, banks still make a profit. Banks are not supposed to be concerned about bitcoin for real money and digital money is very different and do not affect each other. So although bitcoin the best price that will not make the problems with the banks.

Yes it would probably people that are using bank services will shift into the services of bitcoin, that's why they hated most bitcoin. Just like the super hero things, bitcoin is banks arch enemy.

yeah maybe for this time only requires a bitcoin wallet. then bitcoin does not require any bank but if you think that the bank will accept bitcoin as a deposit option. then it will provide benefits for both?
after all, both are also no disadvantage to this ?

But I thik in the future bitcoin start to feel the need of banks as because of scammers, people cannot pay directly to a person for any purchase of anything and so they will need a most reliable third party. In the current time escrow is also a type of banks, escrow work as a third party between two or more dealers in their business etc. So in the future I think banks will adopt the function of escrow for bitcoin transactions.

I think it will happen also that banks will try to adopt bitcoin as another source of payment and service for their clients. But, that would happen
for a very long time or if Im wrong that will never happen.

Many has the thought that bank is not really looking closer to the bitcoin structure and sooner will join the system, but I think, they already know how good the structure is and their ego don't allow them to give it away, so they are developing a better system, with the basics of bitcoin and reducing the cons in this system, and may put a new term for the whole thing.  8)
I like the bitcoin idea and even lot of business support the same. There is nothing illegal and many has yet to understand that. Even many merchant account providers are now providing services to bitcoin products & services (http://www.merchact.com/industry-solutions-high-risk/). The number is also increasing and soon the whole world will accept the bitcoin system.

Bitcoins also dont like banks as both of them are different from each other.

NO, you should correct your information, because i and most of the members in bitcointalk that don't think that bank hate the bitcoin, both have a do different work. bank save the money, and bitcoin is already money.

There is no doubt that bitcoin is a currency and money too, but the fact is banks knows the potential of bitcoin and they are very well aware that it can be threat to them in future.

Let's say you are a business owner, your business exists since centuries, and you make a lot of money out of thin air.
Someone comes with an innovation and demonstrate that your business will be soon useless: how would you react?

Both bank and bitcoin can survive together if banks and government start to adopt and use bitcoin, the banks should have to device some rules and mechanisms through which they have to start regulate and maintain bitcoin for the people. With that bitcoin will also get a strong support and banks will also find a new way to earn profit.

Good question. If I am that business owner then I would be wiser. I would rather approach this thing that is coming and let it in my business. I have connection that they dont have and I know they would want that.

Banks hate bitcoin because they offer an alternative to the services they offer. But they no that bitcoin is going to replace the dollar sooner or later, it's just a matter of time. They're pretty scared. They don't want to get washed out. They want to continue scamming people under the fractional reserve standard.

They know that once bitcoin dominates as a currency, there will be no need for global money transfers. They were taking so much profit out of those. But now they are gone, because of bitcoin. That's because they hate it.

Why would you believe someone that comes from nowhere and will tell you that your business will be soon useless? As it is used by many people and
you witnessed it, don't believe speculations of other people when it comes to business cause it might just they are your competitors

Every major financial institution around the world is aware of Bitcoin and all of them are at least researching the technology.  The smart ones are building prototype systems built on the tech.  Some or many of them may never touch Bitcoin the crypto-currency, but they will all use the tech at some point.  I believe many of them will actively hold and exchange Bitcoin at some point and a number of them very likely hold some BTC right now.

Banks hates bitcoin because bitcoin is beating up their features.Bitcoins wallet and bitcoin itself have the features of a bank account.Difference is it's security and % of earnings.Bank accounts are more secured tham bitcoin wallets.And the difference in earnings is in bank they have a small % of interest per year,but bitcoins have no % in interest,your profit is base on bitcoins current price.And good thing in bitcoin is it can grow ny investing while holding your money.

I have no idea about that banks hats bitcoin. but if it is so may because it will effect their position. may be the people fell no need to use bank for legal currency when they are using online currency.

but it is going to be different for banks, because no matter what happens banks will be stay useful as long as fiat is being used and fiat is not going anywhere.

We cannot get rid of banks so easily. There are still many things that banks can do and bitcoin don't. Banks have locker for securing your valuables. They easily provide you loan in fiat which is acceptable everywhere unlike bitcoin.

the banks will always try to get their hands on bitcoin and get involved  with it if they can and earn the profit by investing int it. but they show that they are not a fan of it and just want the blockchain to use for their own.

Currenctly very less options for cashout bitcoins.

Hold your horses. "Better" is a big term so please use it appropriately.

I used both services, banks and bitcoin so I know in myself how I can benefit from using both.

And because Im in the situation of using them both I know their PROS and CONS

No way I can say that bitcoin is much better nor banks is.

The term "better" must have no CONS please keep that in mind.

But I think bitcoin not widely known and to use bitcoin is still very difficult because not many stores that provide payment with bitcoin. So to use it must change to money to go through the banks. And indirectly we still need banks and banks are not harmed by me.

In  philippines our wallet provider here gives us lots of option to cash out our bitcoin and there are some banks offering zero fee for every cash out transaction that we made and thats really great for us that our wallet provider keeps us more convenient on using their service,  and one day i tried do cash out in bank and when theirs errors occur and tell the bank where do i got the money i said from bitcoin and they said what is bitcoin, damn they dont know what  bitcoin is even they are bankers they late of the e currency trend, thats the reason it didnt cross to my mind that banks hate bitcoin because mostly most of them dont know its existing and their are other capitalist dont bother to see it because its unstaible maybe they dont see profitable in the long run.

may be in future banks also accept bitcoins and then it will become a legal and accepted currencies by the government. then why will banks hat bitcoin. if they have a decent profit from it . i think in  near future the bitcoin will be accepted by the banks.

Just because one of their clients didn't know bitcoin you consider them as bank hates bitcoin? Really a non sense post.

There are lots of crucial things that a banker works everyday. Really stressful so don't blame them if they don't know bitcoin because their mind are full. Have a relatives that works in bank for almost years now? If you don't know their experience then shut up your non sense mouth.

How about I will tell you that 5 of my friends working in BPI (Bank of the Philippine Island), of course you know that bank since we are in PH, taking part here in bitcoin world? Also they have accounts here in bitcointalk and some of them are doing signature campaign.

Don't take it is a whole man.

Some global banks have already taken or are preparing to take cryptocurrency, hire programmers, personnel associated with cryptocurrency: UBS, Standard Chartered, Citi Bank, BNP Paribas, Société Générale, Barclays, Goldman Sachs, BNY Mellon

I think you already answered your question why banks hate bitcoin. Obvious reason is business. You do not support any threat to your position.

For me, we still need banks. Bitcoin is not fully usable to everything with everyone everywhere. So let us not think that banks are going to disappear. :)

Banks want total control of the flow of money, and Bitcoin provides people an alternative to avoid this ridiculous total control, which is why they hate Bitcoin so much, they can't control people's money, this makes them feel uncomfortable because free citizens can be dangerous for the status quo.

Banks have not only control of people money but also earning lot of by using others money.They charge heavy fees on name of protection and transfers whereas Bitcoin provides freedom,low cost and fast way of doing transactions.Banks will loose a lot if Bitcoin which is still at early stage,succeeds to be used widely.

may be banks hate bitcon in present time but I know they will no do so in near future. when bitocin will become legal in all over the world and people will use it as flat currency. I know then banks will have adopted such a system where they will accept bitocin. so we can say that in near future bitcoin will be accepted in most of the world's famous banks.

Because they know that bitcoin is a better system than banks,Bitcoins are probably going to drive them out of business. That's why they hate it so much.

the reason why bank afraid on bitcoin,because they dont want bitcoin can't controlled anymore,or too late to control it,and its why goverment in my country still not accept bitcoin as payment.

your government dosnt accept Bitcoin because they are clueless

who are they by the way :)

Yeah thats true, but i think bitcoin will not drive the banks out , Here in our country you need to use banks in order to cash out your bitcoin to cash

I believe banks don't hate bitcoin. There are financial service providers using bitcoin indirectly, so when years pass and Blockchain technology reaches gradually banks too will adopt backing technology of bitcoin.

Banks hate Bitcoin because some people rather make use of Bitcoin then that they are using banks to save there money. I think that that is the only reason why banks hate Bitcoin. Maybe there are some there some other reason I do not know about. 

I don't use any exchange because I don't want to exchange my BTC to $ . Opposite, I exchange my $ to BTC because I think Bitcoin is very good investment for the future , so I am very glad to save it in my wallet , and we can watch the progressive increasing in BTC value , for that I am holding now . and ofcourse  botcoin wallets are better than banks

That may be true. it's probably because every time they sell their bitcoin, all proceeds from the sale they do from bitcoin will lead to the bank, and it will benefit the bank

I don't really know why, maybe banks don't hate bitcoin. It's nosens to hate bitcoin cause they have more percent of users and have enough money anyway.

you are right and with that people are now not saving their money in banks , but if the banks start to learn about bitcoin and adopt it for their business and start services for bitcoin then they will earn 100X then their current earnings.

Banks are dependent on people's deposits to make money because they are using the money in the savings accounts to give out loans and profit off the interest rates. Also they are making money off the fees associated with the maintaining of debit and credit cards and the checking accounts. If people decide to ditch their bank accounts and move most of their funds to a Bitcoin wallet that will certainly endanger the bank business because they will get less cash to operate with and generate less profits in return. So I bet banks don't like Bitcoin at all.

Fractional banking
Insurance linted to $250k max

With exchanges all beginning to have a debit card option who needs the above? Wait until the next financial meltdown. "to big to fail" will fail! Crypto will rise!

Q: Why Banks Hates Bitcoin?
A: bank is more safe than bitcoins
what the hell?   ???

btw maybe because bank cant controll bitcoin but I dont think bank hate bitcoin

I think they dont hate bitcoin, Here in our country banks is the primary source of bitcoin, We cashout in the banks and we can buy bitcoin in thr banks too.But this is fot my country only,  I didnt know why foreign banks hates bitcoin. If they invest it to the bitcoin. Banks would lose their chance to let us invest out money to them

I think bank and bitcoin has its own weaknesses and strengths. With the banks you do not have to have internet instead? because I'm sure not everyone has internet access.

Yes you are right bitcoin transaction is fast with low fee that's not like a bank. But for the bank's security is superior, let's say your bitcoin is hacked and you can not get a refund i think. But for banks if they hacked, your money will remain safe, right? thank you

I think this is simple, banks are just hating because it has so many advantages, its anonymous and can be made untraceable plus the fact is also that they cannot control it and that is whey they are hating on it for the most part.

yes the banks will lose customers. Now users bitcoin using bitcoin to send sums of money very much. banks will be disadvantaged because they do not become part of these favorable. bank still wants to prove that they are very safe payment method. however, I think bitcoin has many advantages that simply can not be mentioned.

I think not all banks are hates bitcoin. In my country, there is no bank that hate bitcoin. Because the bitcoin itself not popular here. But when bitcoin popular here, i think banks will hate it.

I don't think that banks hate bitcoins generally.
Some of them simply have no clue how to deal with it.
Others have at least noticed the trend.
Like the fidor bank for example. They work together with a market place for bitcoins.

That's why the bank in your country doesn't hate because they don't know about it and your fellow countrymen has lack of knowledge about it.
So banks doesn't have a reason to hate bitcoins because when they see the good side of bitcoin that can benefit your coutrymen.
For sure, they will hate it and becomes a threat to their business.

how they can refuse or hate bitcoin while they do not know anything about bitcoin? This is just speculation from someone that hates bitcoin bank whereas banks did not hate or even know what it was bitcoin. it proved that I inquire about bitcoin to the bank manager. but he did not know about bitcoin

they like blockchain, because it will bring them more money, banks love more money, and unless bitcoin make them more money, they don't care about it

Statements by Jamie Dimon and other banking stalwarts provide an indication of what banks think about Bitcoin.
The views of your local banking manager really don't matter.

Blockchain will help banks to disintermediate other banks and services they now need.
Furthermore it will help them to reduce costs and speed up several transactional and clearing processes.
But that's it!No innovation, no new markets of growth for them will be created.
All the interesting and exciting things will happen outside their environment.And some of those things will eat some nice pieces of their of cake!And they definitely don't like that!So I wouldn't say they don't care about Bitcoin! We are in the "then they fight you" stage!!

Believe me, banks know exactly what Bitcoin is and how it works. That's also the main reason for them to fear Bitcoin as it makes banks kinda useless. But yes, you are right, there are indeed some banks with a friendly Bitcoin approach, that's something I can applaud for.

They really don't have to worry. Most part of banking is heavily regulated and there are entry barriers to new entrants who want to use bitcoins.  :)

Banks not hate bitcoin,they just afraid and worry that bitcoin will replace money as main currency.

Disagree. Are you working in banks as top executives to assume that banks are fear of bitcoin because of that claims of yours?

They are for business. How will they accept a thing if it's not demanded by their clients?

My wild guess is its related to the investment of bank depositors shifting to Bitcoins. Banks can offer 0.1% interest per month and there are Banks who can offer up to 1%, anything higher than that is questionable because where are they (Banks) goin to put the money to earn such interest, while with Bitcoin its unpredictable and you can earn up to 10% a week.

Your right and they are afraid about internet money  because many service in online are scam they afraid to be scam.
But business is business they are just working in business so if this bitcoin is in demand in our country maybe banks will take  action to do business with bitcoins because they are looking more clients to invest in their banks or they are looking for clients to increase their revenue..
I think banks will be deposit or withdrawal(exchange value fiat to bitcoin bitcoin to fiat) for bitcoin if it will happen in the future. They are the best couple of business.

I suppose you mean 10% in profit because of the price going higher right? Which is not true. Since there is no guarantee that this will last.
Interest is interest and it's guaranteed, not like a price rise. So no banks don't hate bitcoin for that.

Banks dislike bitcoin because of it's benefits, they can never match that in terms of fees and speed.

yeah it was good logic dude the bank does not know what is bitcoin? how could they hate bitcoin? if you have evidence that banks hate bitcoin show me. I've even noticed that the Italian central bank support bitcoin, you can see it in google

Where have you been? Have you not heard of banks shutting down business accounts of bitcoin related businesses??

yes bitcoin more unstable but can be profitable. but it could be any adverse bitcoin, with a decrease in unpredictable anyway. bank further ensure accuracy. while bitcoin give something unpredictable. can make a profit or loss in a very short time immediately.

A lot of that was happening a while ago, I can't think of any recent examples of companies freezing or shutting down accounts just because some company was using Bitcoin.

Times change, though. Those who may have been hostile before aren't necessarily against it now.

maybe because bitcoin gives us transparency on the network we can clearly see where and who is sending the coin and not only that we can sell the whole chain we can see anyones balance and even can see all the other details like his transaction record etc we can do everything excet the ownership on anybodys coin which bank will not provide even after 10years

We don't need banks to process our transactions anymore because of the introduction of the bitcoin technology. There's no dodgy fractional reserve system going on within bitcoin either.

That's why bitcoin is feared by banks - they know that one day run out of profits because of bitcoin, which is going to replace banks.

Good point. Transparency is good for we want to know who are the top owners and how they do that. If those are reach people then good if not then it is questionable. Other thing is investing here is money growing up in a faster way.

LOl it is not that banks hate bitcoins why would they hate them they dont even need to work with bitcoins the only reason thy men think they would hate bitcoins is that bticoin has a gold value and banks owns that gold.

Banks are hating the currency because it will be not used that much and that is bad because they cant earn more money with it so that is really bad.
And they see that people that is using more Bitcoin and that is nice for the currency itself, but it is still hard to predict what will happen later with Bitcoin.

Banks hate Bitcoin because some people rather make use of Bitcoin then save there money at the bank. So Bitcoin is actually taking costumers from the bank and the bank of course does not like that.

banks hate bitcoin because banks can't control bitcoin users and considers that Bitcoin users grew very rapidly even more faster than Banks users currently and also i think bitcoin will be the toughest rival for them in the future

Well I'll tell you something why banks hate bitcoin, which has nearly been told over and over again in this thread. Bitcoin offers transparency in which everyone can see all the transactions done from who, to who, by who.
That is one thing that banks will not offer, which is why they wouldn't want a bitcoin bank. Unless they have a way to hide it, but it seems to be impossible.

Maybe one of the reasons why banks hate bitcoins is bitcoin and  bitcoin wallets is maybe too many people who have money on banks transfer all their money to their bitcoin wallets to make it profit  and maybe they want to handle their money by their own.Bitcoin have many features that banks dont have.Like online transaction(iknow some banks have onlime bamking but not all)

yeah, bitcoin has the potential of replacing banks. for example all those transactions when you want to send or spend money that were going through banks are not going through bitcoin so they are missing out on many amounts of fees in this process which means less earning for them.

Banks are hating Bitcoin because they can see now that Bitcoin is becoming more popular and that is really nice for the currency.
But of course it will be really hard to know what is going to happen with Bitcoin in the future and that is the risky thing.

Many banks are wary of the fact that the industry will undergo wrenching change. At this point, it seems that on the horizon, the banking system is seen two courses.

Banking institutions can start working in the new, ever-evolving areas of digital money. In this case, for a start they are required the recognition of changes in financial technology and the adoption of this concept.

Or, banks may continue to operate under the old system.
That's what means today use to mask the traditional banking system. Ultimately, we are likely to see, as different banks have chosen different paths of development, depending on their attitude to such disruptive technologies like Bitcoin.

Because bitcoin has become a threat to the bank, and threaten the existence of bank. With all usefulness of bitcoin will make many people think again to move on bitcoin.

Nope.Banks are no way scared of bitcoins,they are infact happy about the fact they would have less bullshit to be dealt with.It hardly matters for them weather it be a fiat or crypto,they know they would play a big role unless once is actively prioritized over other.Right now its fiat!

They won't do that,Why should they ? That's again making the crypto world centralized.With major safety techniques and cold wallets ,I can be my own bank to store my savings safely.Peer to Peer loan is another advantage,I may add.

Banks would operate under the old system for permanent.They can't go all "DAO" over the dawn of bitcoins.

There are many reasons why banks hates bitcoins.First thing is they are losing people that ues banks because people are adopting and investing their money in bitcoin and banks loses customers because they are transfering money to bitcoin wallets  because of bitcoins features of  bitcoins which is better than banks

Well I agree with you. In addition to this I think banks hate bitcoin not just because of that, Banks hate bitcoin because bitcoin have the potential to overthrow fiat currency that will be bad for them, and if that happens they will have no profit and no investors. I think thats the main reason why banks hate bitcoin so much.

Banks are hating Bitcoin because the value is going to rise more and more and it is also becoming more popular so that is nice for the currency itself.
And the transaction cost are also much lower than the banks and it happens also much faster so that is the nice thing of Bitcoin.

I do not know if banks hates Bitcoin. I rather think they are aware, try to understand how to benefit from it. Banks are here to generate profit, money. There is couple of examples that banks trying to incorporate not Bitcoin, but Blockchain technology and security. Banks need to work on security, they do not want to loose money right.

they hate bitcoins because it is a threat for all the banks as people might just choose to use bitcoins instead of fiat

Correct, bitcoin is the main threat to both banks as governments
Banks want to earn on transaction, bitcoin provides a min. transaction fee at a fraction of the cost banks charge.
Governments want all financial information on their subjects, bitcoin provides anonymity.

I think that banks don't really care about bitcoin, they have another questions and problems to solve at my opinion, bitcoin and banks can't be togather anyway ;D

But I do not think that banks not hate bitcoin for the reason of gold like concept of bitcoin. Gold will also increase their annual income and everything so, if they accept bitcoin also will do the same.
I believe in future banks will be offering a service that you can buy bitcoin from them, like what they are currently doing with gold.

Banks hate bitcoin because...

*looks at fedcoin*

They don't. They want to downplay it because it is the best, and they are secretly trying desperately to fork it xD

maybe bank hate bitcoin because people change their money into bicoin and save in bitcoin wallet,but they dont,bank give the secure about our money and when our bitcoin wallet is hacked its the end. secure more value than the money

Bank hates bitcoin, because they can see that bitcoin is really a big threat to the banking system. I don't know if all banks now knew about bitcoin.
Or only few banks know about it.
But still this is going to be a big threat to them that's why their hatred with bitcoin.

Yup Banks hate bitcoin because bitcoin is building up a parallel economy which is anonymous in nature. Banks and governments will be furious if money is free distributed in the economy without their intervention. Money is the most powerful weapon to control people and if it is being distributed freely, the power of control will be shifted from their hands.

you are right that banks give guarantee for the security of our money but people prefer bitcoin because the fees of transacting bitcoin is much lesser and with bitcoinwe save a large amount of our hard earned money, so we can buy any other thing with that saved amount.

Bank hate Bitcoins because the Bitcoin is taking away there costumers. This way the banks cannot make money because everybody is going over to Bitcoin to use it as an investment.

That's true because if bitcoin will be chosen by all of the people for sure bank will doesn't have customers anymore. But still bank is playing a very important role in the economy.
They only hate bitcoin because of the potential to reduce their customers.

yes bank will lose many customers. bitcoin take over everything. convenience and speed offered bitcoin surpass the strength of the bank.

lol banks does not hate bitcoins at all they dont even need to use them so why do they hate them. It it not that they need to use bitcoins also maybe they can only make money with bitcoins dont think they hate it.

Yeah that's why bank really hates bitcoin, but I'm thinking that one day it will stop. That bank will stop hating bitcoin.
Because the government may mandate the adoption of bitcoin in the economy.

What do we know. Maybe some are using both at the same time. Banks can keep their money safe. And in bitcoin they can use it as an investment where it is moving always unlike money in banks.

maybe  because its a very good alternative on banks thats why a lot of people using it .. maybe the banks  are afraid to loss costumer bitcoins.. but I dont think people will invest their whole money on btc . after all banks is more secure that btc.

I think because of many people now are using bitcoin to transfer money fast, because sending bitcoin is a much better than sending some cheque because the bank will hold that cheque for several days.

Bitcoins can be a competitor of all banks,because low charge of fee,more faster than a bank...
and of course most of their client once they discover that Bitcoins more convenient rather than banks for sure
they will shift into Bitcoins and study of it how to use it properly,. :)