Bitcoin Forum

Bitcoin => Legal => Topic started by: cryptorampage on February 01, 2018, 09:27:22 PM



Title: Why Banks are attacking Bitcoin ?
Post by: cryptorampage on February 01, 2018, 09:27:22 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kramblerty on February 03, 2018, 09:56:33 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Vazil on February 03, 2018, 09:58:50 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!

Agree! We all must take a piece of world money pie (from banks) by using crypto assets.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: onurgozupek on February 03, 2018, 10:00:52 PM
Bitcoin as a payment solution is a good opponent of banks. That's why the don't like Bitcoin. It also has an advantage of being a currency that any bank can not beat. So, most economists don't like Bitcoin both as a payment solution and as a currency. That's why they say Bitcoin is a bubble time to time...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: botany on February 03, 2018, 10:04:26 PM
Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Exchanges are the new banks. You can even lend your bitcoins to margin traders and make small gains. There may not be any run on exchanges, but there is always the equivalent of a bank-robbery (hacking of an exchange).

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

This may be construed as begging for merit. Not a good idea.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ducphat254 on February 04, 2018, 03:47:44 AM

is loss of profit.
Transactions are made through the blocking of transactions made through banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: cryptorampage on February 04, 2018, 04:49:38 AM
I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D
Quote
This may be construed as begging for merit. Not a good idea.
Dear sir ,
Most of the people commending the strong one, who don't need the merit. They actually passed the minimum requirement to get higher level. Only to impress medium account like "member" giving merit to the legendary.
Sir I don't play any ico or signature. I love this forum. How could we (weak account) passed the bar and level up.

People count there Smerit before giving some one. Like should I give him? And if that account is weak , the chance becomes lower.

Why I am requesting :
I have written 6 good article , each article took me 1day to write. But then no one gave me that point. Thats why I started requesting , Hmm I know it looks bad. But we need to be more generous and kind to the low level account. Otherwise we will not pass. You could say it begging but it is necessary because this system is still new.

I am saying again merit system is not the badge , it is not controlled by software , if you guys (strong /higher lvl ) don't give us , no one will. I am sorry if I did any wrong.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: shinjunobi09 on February 04, 2018, 05:19:29 AM
Especially central banks are getting affected by the rise of cryptocurrency in the world today because many people choosing saving in their bitcoin wallet rather on bank, they rather risk their money on bitcoin than saving on banks because it is more affordable and efficient.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Johnyz on February 04, 2018, 12:04:12 PM
Because banks are so afraid not just on bitcoin but in all cryptocurrency. If this thing will fully implement in the coming years well the profit of banks will reduce since we can easily transfer money around the world and a bit more faster.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MCVXYZ on February 04, 2018, 12:37:57 PM
Because banks are so afraid not just on bitcoin but in all cryptocurrency. If this thing will fully implement in the coming years well the profit of banks will reduce since we can easily transfer money around the world and a bit more faster.

This topic already exists as I know.
Anyway,you said that bankers profit will reduce,okay its logically but today they have already started to create their own exchanges,this means that banks also looking for new ways to get more profit from this situation,But it's a bit unclear Which banks are you talking about? there are two kind of banks Federal (national)  and commercial banks,National banks are afraid because of its emission,noone regulate its emission and thats problem for them,but for commercial banks don't worry they will always find alternative ways to earn good profits,becuase they usually don't have incomes only from transactions,the scope of their activities is much wider,for example they are in construction business,etc...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Don Pedro Dinero on February 04, 2018, 01:09:30 PM
No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Although I agree with most of what you say, this first point is simply false. There are liabilities and debt with bitcoin. You don’t need to go very far to check it:

https://bitcointalk.org/index.php?board=65.0 (lending board)

You can also check casino investments, or freebitco.in giving a fixed 4% interest on your bitcoin.

A bank could perfectly give bitcoin loans and also pay interest.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: CryptoBry on February 04, 2018, 03:49:29 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits. Transactions made via blockchain kills transactions made via banks. But the topic is essential! It should be upped!

It all boils down to business. Banks are afraid that soon a big chunk of their business volume can be affected because a good number of people are shifting to cryptocurrency or to those companies that are involved with cryptocurrency. It is all about fighting for your own kingdom or captured market. Consequently, many leaders of the banking sectors  are painting some negative spins about Bitcoin and cryptocurrency in general. What these people forgot is that they are actually the very reason why Bitcoin came into being...on their failure to stop the many financial crisis the country experienced in the past.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: gentlemand on February 04, 2018, 04:30:10 PM
Banks are a lot more scared of tripping some existing regulation than they are of losing business to Bitcoin.

Think it over. There are people clamouring to drag them into an area that's completely unregulated in most countries. Finance is one of the most heavily regulated areas in the world and the penalties for ballsing up are severe.

Until there's clear and straightforward guidelines for them to adhere to, no right thinking bank will want anything to do with crypto. It's a world of pain with little upside.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: cryptbit.man on February 04, 2018, 05:50:37 PM
It's a confirmation that they feel/are threatened by digital currencies, ad they would undermine their authority and control over money. That's why crypto is called decentralised.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Baoo on February 05, 2018, 11:34:19 AM
The main reason that banks are  always attacking Bitcoin or digital currencies is the financial losses and the decrease of Fiat value. Furthermore, They are afraid of the continued existence of  Bitcoin at the summit of the digital currencies, so they invested a huge value in other currencies in order to  affect negatively the  value of Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reighbut2017 on February 06, 2018, 02:29:12 PM
banks attacking bitcoin because they cannot hold and earn money unlike other currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Thyristor on February 06, 2018, 02:55:21 PM
Their main concern atm is crypto as an instrument for money laundering and tax evasion. So in 2018 we will see more regulations for fiat-crypto gateways (exchanges and the like) to prevent anonymity.I don't think it is under attack.Many banks/governments are still in the state of evaluation.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: marielbeckham on February 06, 2018, 03:11:33 PM
Yes, as it has been already mentioned it's because of the sufficient damage on the income. The amount of profits they used to earn has been decreased significantly as soon as BTC appeared.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kambal2000 on February 06, 2018, 03:59:14 PM
Banks have different approach when it comes to cryptocurrencies but most of them doesn't like bitcoin as they were kept saying that bitcoin is somewhat a ponzi scheme and can manipulate the price by those big waves, but some country/central banks sees this as an opportunity to lessen the transactions in bank each day.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: SonoCoin on February 06, 2018, 06:03:07 PM
Obvious. They are afraid of losing control of the financial systems.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: sparkystacey on February 06, 2018, 06:45:32 PM
I think its a gross generalization to say they are against bitcoin. They are against risk, and for protecting customer's money. That is the principle they were created to endorse.

They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum. 

They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: abdulq on February 06, 2018, 08:29:56 PM
I think its a gross generalization to say they are against bitcoin. They are against risk, and for protecting customer's money. That is the principle they were created to endorse.

They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum. 

They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.
Govt are affraid of losing financial control on money. As govt run by taxes and using digital payment system cuts down the taxes in my opinion and govt cannot trace transaction. In my opinion this is the reason.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jossiel on February 06, 2018, 08:47:04 PM
Govt are affraid of losing financial control on money. As govt run by taxes and using digital payment system cuts down the taxes in my opinion and govt cannot trace transaction. In my opinion this is the reason.
They are afraid of losing financial control from the community because it can ruin the banking economy and also those people who have big amount in the banks can also withdraw that money.

And if that happens the bank will lose a lot of big fund that can affect their lending business so they are attacking and afraid of bitcoin. While it is still early to see the future, they are doing their best to stop bitcoin because its decentralized means uncontrollable.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: DispatchLabs on February 06, 2018, 09:02:09 PM
Strangely, banks hate bitcoin but love blockchain because it makes their processes more efficient.  The tech giveth and the tech taketh away  ;D


Title: Re: Why Banks are attacking Bitcoin ?
Post by: darkangel11 on February 06, 2018, 09:25:16 PM
Govt are affraid of losing financial control on money. As govt run by taxes and using digital payment system cuts down the taxes in my opinion and govt cannot trace transaction. In my opinion this is the reason.

It does not cut taxes! Blockchain transactions are visible and stay visible forever because it's impossible to take down all nodes at once. So blockchain is much more transparent than normal transactions. If a bank manager wants to wire money somewhere under the table he can do it and make it the way the banking system doesn't recognize it. If it's a small sum connected to a number of big wires until and on top of that there balance remains positive or neutral, nobody will bother to investigate. That's why bankers used to be the biggest money launderers for the mafia back in the day.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BitHodler on February 07, 2018, 12:44:24 AM
That's why bankers used to be the biggest money launderers for the mafia back in the day.
They are still doing so for large criminal organisations. It's impossible that without their help, billions and billions of criminal money each year ends up in the legal circuit, and these transactions come with very high commissions.

Banks are one of the biggest criminal entities ththemselves. They are looking to attract wealthy foreign clients, but have absolutely zero problems snitching on them by reporting their holdings to their tax agency.

Banks also help in financing wars, which basically makes them the worst possible scum on this plannet. I am glad that we have Bitcoin to be used as safe haven, and more people start to understand this as well.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: El Il-mythos on February 07, 2018, 05:12:51 PM
Here is also my some thoughts for the reason  banks are totally not supporting bitcoin.
1. People investing in bitcoin has the big chance to earn big than in a bank.
2. Your money is sleeping in a bank in such a long period of time and only but making only a small amount of profit while investing it in bitcoin is more profitable.

Traditional banks will fall down if they let bitcoin to take the lead. But I doubt that there thing or someone that can stop it from reigning.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: carlfebz2 on February 07, 2018, 07:31:10 PM
You got some merits from me man! 8) Actually this post do really have these strong points why banks don't really like bitcoin at all or doesn't really even recognized to be part of it because it do acts oppositely on what banks do offer. If people would able to find out on how does it works then its normal people will surely make use of it instead of banks but the thing we should always think of is on the risk involved which we see that it has higher risk than on putting your money simply on banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Pleione527 on February 08, 2018, 05:13:10 AM
Simply because they knew the threat of bitcoins being on top of the line preferred by most people to invest in rather than putting all of their money in a bank account which earn a little fixed interest rate. And since bitcoins are not mandated by financial institutions and the government it is much easier to do transactions rather than banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: makolz26 on February 08, 2018, 02:11:21 PM
Simply because they knew the threat of bitcoins being on top of the line preferred by most people to invest in rather than putting all of their money in a bank account which earn a little fixed interest rate. And since bitcoins are not mandated by financial institutions and the government it is much easier to do transactions rather than banks.
Banks are not totally attacking bitcoin, some don't mind them some just don't care, but those who are in the Central banks are the one who does not like the idea of having a cryptocurrency since they have noticed that their transactions  had affected by cryptos especially in trading/investing.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Toucanoe on February 08, 2018, 02:13:39 PM
Isn't it obvious? They will attack BTC or any other cryptocurrency because it will take away the Banking System if crypto succeed. #Easy


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Bito4ek500 on February 08, 2018, 03:17:28 PM
Bitcoin as a payment solution is a good opponent of banks. That's why the don't like Bitcoin. It also has an advantage of being a currency that any bank can not beat. So, most economists don't like Bitcoin both as a payment solution and as a currency. That's why they say Bitcoin is a bubble time to time... :-[ ??? >:( ;)


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tung06081989 on February 09, 2018, 10:46:17 AM
day by day bitcoin develop more and more and it is the opponent of bitcoin,the country manager bank and they don't want lose market share


Title: Re: Why Banks are attacking Bitcoin ?
Post by: abdulq on February 09, 2018, 08:33:14 PM
day by day bitcoin develop more and more and it is the opponent of bitcoin,the country manager bank and they don't want lose market share
Bank are opposing bitcoins becuase they make handsome amount of money in doing swift transactions so if bitcoin becomes the mainstream for the whole world for sending or remitting their receipts through digital currency there where are the banks stand.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: badykvik on February 10, 2018, 09:00:39 AM
Banks are regulated and Bitcoin is deregulated. Based on this to Banks, Bitcoins are illegible on line currency possible of being scammed no matter how secured or encrypted its wallet might be. So, Banks get to wander why people still believe and invest in it instead of securing/keeping their money in Banks which is of more importance to them. Secondly, how can Bankers secure employment if Bitcoin is now generally accepted, since they as middle men shall be abolished or reduced drastically.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: donalfonso on February 10, 2018, 09:06:25 AM
Its normal and natural for banks to attack any financial system or any financial model that seems to make people remove their money from banks to partake in, especially if that financial system is not regulated like bitcoin. BAnd not just banks even governments are wary of bitcoin


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Sir Cross on February 11, 2018, 11:18:37 PM
Their main concern atm is crypto as an instrument for money laundering and tax evasion. So in 2018 we will see more regulations for fiat-crypto gateways (exchanges and the like) to prevent anonymity.I don't think it is under attack.Many banks/governments are still in the state of evaluation.

I think it’s more than just money laundering and tax evasion which concerns them. I think they have noticed that many have profited largely through bitcoin, and this scares them because it is foreign and unfamiliar to them. They can't understand where all the money is coming from since they don't understand what bitcoin is. For them, it is unstable and it's not secure - which is the complete opposite of what banks are. As for now, banks are indifferent towards bitcoin and although they don't attack it directly, they still have an unsure position towards it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Damsel_7 on February 13, 2018, 01:38:12 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

Banks are attacking bitcoin because Banks say Bitcoin and other currencies are by no means currencies because it has no real value, they are pure speculative objects, it's a bubble and it is dangerous, it has technical limitations for users,  it could trigger substantial risks in the side of investors and potential risks in financial stability.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Bold Gold Team on February 13, 2018, 02:33:25 PM
Centralized banks simply view Bitcoin and cryptocurrency as a threat to their profits and financial control.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: orions.belt19 on February 13, 2018, 06:01:12 PM
Simply because they knew the threat of bitcoins being on top of the line preferred by most people to invest in rather than putting all of their money in a bank account which earn a little fixed interest rate. And since bitcoins are not mandated by financial institutions and the government it is much easier to do transactions rather than banks.
Banks are not totally attacking bitcoin, some don't mind them some just don't care, but those who are in the Central banks are the one who does not like the idea of having a cryptocurrency since they have noticed that their transactions  had affected by cryptos especially in trading/investing.

I’ve heard of some central banks who are open to the idea of cryptocurrency. This must have been the case because there has been a rising number of cryptousers within the area. They say that if you can’t beat them, you join them.

Not all banks have made actions toward crypto or bitcoin, and I don’t think that they would attempt to attack it. Most just don’t know what to do because they are not familiar with it and lack knowledge on the concept. They may feel threatened because it concerns their industry however banks won’t make any drastic moves toward bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Batrakov on February 13, 2018, 09:01:33 PM
Feel the competition
no one wants to lose their money, the more regular customers :-X


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hamphser on February 13, 2018, 10:40:26 PM
I think its a gross generalization to say they are against bitcoin. They are against risk, and for protecting customer's money. That is the principle they were created to endorse.

They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum. 

They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.
Govt are affraid of losing financial control on money. As govt run by taxes and using digital payment system cuts down the taxes in my opinion and govt cannot trace transaction. In my opinion this is the reason.
That's why Bitcoin was created in order to run as opposite of what the banks do because Satoshi believed that through Bitcoin everyone would not put their money on the banks where the government can easily lock and tax their account and money without their consent and permission. Through Bitcoin you will see the transparency of every transactions that was made by every single person with the help of blockchain technology.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: samtarly on February 13, 2018, 10:53:52 PM
I think its a gross generalization to say they are against bitcoin. They are against risk, and for protecting customer's money. That is the principle they were created to endorse.

They are working on their own solutions utilizing blockchain. For instance, they are using blockchain to wipe out SWIFT (the ultimate middle man) and to even create some of their own coins. Many of the biggest banks, including JP Morgan whose been the most critical publicly of exuberance and investment, has been working on Quorum, releasing a 2.0 version that is closely aligned with Ethereum. 

They are being protectionist, and to some degree maybe overdoing it to underscore their own value, but banks are definitely working closely with the technologies to make sure they are part of this ecosystem as it unfolds.
Govt are affraid of losing financial control on money. As govt run by taxes and using digital payment system cuts down the taxes in my opinion and govt cannot trace transaction. In my opinion this is the reason.
That's why Bitcoin was created in order to run as opposite of what the banks do because Satoshi believed that through Bitcoin everyone would not put their money on the banks where the government can easily lock and tax their account and money without their consent and permission. Through Bitcoin you will see the transparency of every transactions that was made by every single person with the help of blockchain technology.
And that's the reason why some governments are attacking bitcoin such as imposing bans, regulations, shutdowning crypto trading sites etc. because they know if they don't do that bitcoin will become a huge threat for the inflow of cash to the government and it shows its signs as the time pass by.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: xankor on February 14, 2018, 11:25:18 AM
Maybe because Bitcoin ruin the system bank


Title: Re: Why Banks are attacking Bitcoin ?
Post by: btrice7 on February 14, 2018, 11:52:52 AM
because Bitcoin is not under the control of banks.the banks don'tt like things that are not in the bank controls.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: rhamzter on February 15, 2018, 12:08:01 AM
because Bitcoin is not under the control of banks.the banks don'tt like things that are not in the bank controls.
Aside from that bitcoin is the biggest competitors of the Banks, it was due to good and effective features of this crypto currency. Many people are attracted to invest in this coin instead of investing to other crypto currencies.
Moreover transactions using bitcoin is much easier compared to banks, that's why many people and users are patronizing that project.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Budugbass on February 15, 2018, 07:14:19 AM
And however the banks are closely related to the government, if indeed the country government assesses bitcoin could harm the country / disrupt the state's financial system, it would certainly be banned and would be support if it's indeed it couldn't harm to the country.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: futureofeth on February 15, 2018, 07:32:18 AM
And however the banks are closely related to the government, if indeed the country government assesses bitcoin could harm the country / disrupt the state's financial system, it would certainly be banned and would be support if it's indeed it couldn't harm to the country.

Banks are ruined by the governments and major control on them because they are missing lot of transaction fees, that's why the objecting the government to ban the Bitcoin and its corresponding cryptocurrency. Banks want to be always mediator in between the holders in order to collect the fees.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Neljose on February 15, 2018, 08:53:41 AM
bitcoin is a threat to all fiat currencies, that is why banks will forever dislike bitcoin, but i think if they're wise, instead of fighting bitcoin they should adopt it, after-all its the future.


Title: Re: Пoчeмy бaнки aтaкyют Bitcoin?
Post by: xankor on February 15, 2018, 09:11:15 AM
Maybe because they afraid that cryptocurrency can break them system


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MisterPrada on February 22, 2018, 07:08:44 AM
It's being attacked by every single entity who has the ability and the motive, so yes.

People don't factor in how strong bitcoin is when they complain about it or consider its value. How can something so impervious to attacks have no or little value?


Title: Re: Why Banks are attacking Bitcoin ?
Post by: elisabetheva on February 22, 2018, 08:30:22 AM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!

Obviously and it's true, transactions that have been done by bitcoin users do not go through the bank, obviously they know that the transactions are very large, they do not receive some of these benefits.
is it possible the bank will plunge to be able to complete and participate in bitcoin transactions, possibly of course there are, but there are obstacles that will be experienced by the banking of course. because of the difference of the transaction.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Baoo on February 22, 2018, 11:30:11 AM
Actually, many banks are aspiring to break Bitcoin and of course, there is a big support from their governments. As well, it is very unfortunate that they are always attacking this currency, but the only reason is the financial losses and the widespread economic crisis in many countries and due to there is a decrease in the value of their currencies (FIAT).
As a matter of fact, the digital currencies and especially "Bitcoin" have become more successful than before, and these currencies are always criticized from many governments (Banks) because  they are not beneficiaries of financial transactions and there has been an increase in the number of  cryptocurrencies users.
In fact,  I think that the continuation of Bitcoin development and other currencies  will lead to recognition from all governments.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: wave1002012 on February 22, 2018, 11:48:16 AM
I'm not surprised because they can't earn transaction from BTC.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: whitecaramel1 on February 22, 2018, 12:13:52 PM
Why do banks support Bitcoin?it is a threat to the banks.I hope they will not have any problems in the future..


Title: Re: Why Banks are attacking Bitcoin ?
Post by: bajigur894784 on February 22, 2018, 03:23:03 PM
I think, What is most feared by economists and banks around the world is the collapse of the global banking system.

Due to the presence of bitcoin, people do not have to bother using bank services to store or transfer the money, because using bitcoin is much cheaper and relatively more secure.

Bitcoin is also very profitable to invest because the price is very fast rise.

Then because of its anonymity, consumers prefer bitcoin as its flagship rather than a bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: btcmegastar on February 22, 2018, 05:28:21 PM
The main reason behind attacking Bitcoin is, they are not getting any benefits from the transaction what they are doing and for cryptocurrency business there is no middle in between us this make very frustrating and banks are making lot of pressure on governments.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Harlot on February 22, 2018, 06:19:31 PM
I don't think that there is a clear attack banks are doing to Bitcoin. I mean the only thing with significance I have seen lately is some banks have banned cryptocurrency purchases on their customer's credit card, and for me that is understandable. Their customers buying a risky asset on a credit will mean bad business for them. So I totally understand why they want to be on the safe side of business, even that kind of move made by a bank does not show a direct attack to Bitcoin. Can someone here give me an example of an attack that was done by a bank to Bitcoin?


Title: Re: Why Banks are attacking Bitcoin ?
Post by: richardsNY on February 22, 2018, 06:54:13 PM
Can someone here give me an example of an attack that was done by a bank to Bitcoin?

Let me name up a few:

-- Banks prohibiting crypto credit purchases.
-- Banks prohibiting people from wiring money to crypto exchanges.
-- Banks prohibiting businesses from getting involved in anything crypto related as long as they make use of that specific bank.
-- Polish central bank paid a YouTuber to discredit crypto.
-- Bank CEO's discrediting Bitcoin and say it's a fraud.

And there may be a few more that I might have missed. But it's more than enough to conclude that banks don't like Bitcoin, to be more specifically. If you don't think these are attacks on crypto, then I don't know what you will ever consider to be an attack. And these are the attacks that are known already. I am sure that just like the Polish central bank did, there are more banks sponsoring anti crypto campaigns. It's just a matter of time before that becomes publicly known as well. Bitcoin is the biggest threat to them that has ever emerged, and that's what makes them afraid of what has to come. I love it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BitHodler on February 22, 2018, 10:06:29 PM
Bitcoin is the biggest threat to them that has ever emerged, and that's what makes them afraid of what has to come. I love it.
While I do agree that Bitcoin poses a serious threat to the banking system, I am also of believe that it could boost their way of doing business to a whole new level. They just need to get rid of their inside hate towards Bitcoin.

If they play it well, and make use of Bitcoin's popularity to offer all kinds of services based on Bitcoin, I have no doubt that they will change from hater to lover. Bitcoin is the new and improved version of gold.

The fear of allowing something new to stand up is what's holding them back. I seriously wish they will let go of that to finally understand that Bitcoin means progression, and not failure of the banking system.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: EEEian on February 23, 2018, 08:12:48 PM
Bitcoin itself is an attack on banking institutions and governments.Many institutions are adapting, but many more are fighting back..It's being attacked by every single entity who has the ability and the motive,so yes.People don't factor in how strong bitcoin is when they complain about it or consider its value.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Felix$$ on February 23, 2018, 11:23:16 PM
Big Banks want to destroy BitCoin before it destroys them. Bitcoin has real potential to become a new currency, free of the control of big governments and big banks. That’s why they both want to limit this potential. Unfortunately, we can't see the future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: shi07 on February 24, 2018, 09:11:12 AM
Banks attacking the bitcoin because they are afraid to lose their depositors. Instead of saving in their bank accounts people prepared to save in their bitcoin wallet because it has a greater changes to earn extra profit if the value of bitcoin gets high. Also instead of using online banking for payments and exchange transaction the people would likely use bitcoin because it generates low fees and penalties.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ferad on February 24, 2018, 03:00:44 PM
The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Rooster101 on February 26, 2018, 03:19:18 AM
A lot of people has invested or bought bitcoins including those who uses banks for their savings. Bitcoin is becoming the people's currency because many are preferred to invest in it than in the banks. It has also the potential to become a new currency that can possibly replace any national currency in the future and it can't even controlled by governments and big banks. This is the reason why banks want to limit the cryptocurrency potential because they are really threatened by its popularity.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: onebtcforlife on February 26, 2018, 06:54:29 AM
The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.

Not only because of that now Bitcoin and other cryptocurrency are not running themselves and they are not making the commission on those. Bitcoin is the decentralized platform where people can transfer the money without any mediator like banks. This makes more frustrating about it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: samcrypto on February 26, 2018, 07:10:02 AM
The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.

They are really protecting their businesses cause literally blockchain technology can beat them in terms of transacting payments. Though some banks are now adopting cryptocurrency I still believe that they are afraid to be left out. Bitcoin is amazing that can really change our financial system in the future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Zabrielle on February 26, 2018, 12:59:50 PM
Obviously banks are scared with Bitcoin. I think bank is getting obsolete in transactions. Aside from that bitcoin tarnsaction is very fast and banks charge fees everytime.  Bitcoin transacs directly to the person. No need for middle man which is the banks so i guess this is the reason bank keeps attacking bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: DeadCoin on February 26, 2018, 03:37:02 PM
Local fiat's value is crashed and banks business is ruined down due to crypto currencies especially Bitcoin. The reason every government is against or hesitating to accept bitcoin is bitcoin dominates local currencies. Crypto currencies being on top in the currency market truly affects the growth of banks.  People invest in crypto coins rather than fiat's,  thus ocal currencies value is thrown to the air and banks business is gone.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Proton2233 on February 27, 2018, 12:15:14 AM
Banks cannot really compete with cryptocurrency. But they have Fiat. Each of us cannot now refuse to use Fiat. So we are vulnerable. But as soon as it becomes possible to use cryptocurrency to buy goods directly, the world will change. Bankers have been parasitic on us for a long time. Now it's our turn to watch them go bankrupt. I bought a ticket in the front row.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: SmokerFace on February 27, 2018, 01:17:24 AM
Banks spreading fake news about bitcoins and other crypto because it allows people to trade directly with each other and no need a middleman like banks so banks will not get any interests or charges from it.
They want to destroy bitcoin before it destroy them because bitcoin affects alot negative into banks, Big governments and Banks will lose seigniorage income means the advantages to derived from printing money and losing the ability to handle money that flows between banks and economy.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ApocalypseNow on February 27, 2018, 01:31:57 AM
The banking industry profits from their greedy schemes and they make billions very easy with it. And now that bitcoin is going to take that away, it's just their natural reaction to feel its threat and put it down.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Greenkarki on February 27, 2018, 03:09:40 PM
It's again the business competition I would say.  Fiat's Vs Crypto currencies. As crypto started ruling the currency market, revenue earned from fiat's are falling back and loosing it's value amongst investors.

Banks are the backbone of a government. To sustain them economically, bank forces the government to take action against crypto entering into their country.  Everything is on at business motivation.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: andreijoaquin on February 27, 2018, 05:13:18 PM
Time will come banks are no longer needed because everything they offer can be found in bitcoin with additional features only bitcoin can offer. Banks become worthless because of this block chain technology, people can have control over their money and the return in investment is higher with bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: bryan21 on February 28, 2018, 10:06:58 AM
A lot of people has invested or bought bitcoins including those who uses banks for their savings. Bitcoin is becoming the people's currency because many are preferred to invest in it than in the banks. It has also the potential to become a new currency that can possibly replace any national currency in the future and it can't even controlled by governments and big banks. This is the reason why banks want to limit the cryptocurrency potential because they are really threatened by its popularity.

I think bitcoin maybe not replace any national currency, because bitcoin like virtual money but have investment in there. So people more do investment in bitcoin because they know bitcoin more profitable more than gold. Or somepeople already have experience do investment before in bitcoin and get profit, and they buy more bitcoin again to investment for their future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tung06081989 on February 28, 2018, 10:47:16 AM
because BTC is leader of crypto market,when crypto market development it will share market with crypto,and decrease profit  of bank


Title: Re: Why Banks are attacking Bitcoin ?
Post by: matuson on February 28, 2018, 10:59:15 AM
Banks lose their customers. They can't compete with cryptocurrency. But the worst part is that governments are allies of banks. Therefore, we see that the conditions for the exchange of cryptocurrencies for Fiat are constantly complicated and additional restrictions are introduced.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tung06081989 on February 28, 2018, 12:17:03 PM
Banks lose their customers. They can't compete with cryptocurrency. But the worst part is that governments are allies of banks. Therefore, we see that the conditions for the exchange of cryptocurrencies for Fiat are constantly complicated and additional restrictions are introduced.
yes,government link bank,they control bank and support bank,if crypto development goverment can't control curency


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Basmic on March 01, 2018, 01:54:12 PM
I don't think it is under attack.Many banks/governments are still in the state of evaluation.Their main concern atm is crypto as an instrument for money laundering and tax evasion.So in 2018 we will see more regulations for fiat-crypto gateways (exchanges and the like) to prevent anonymity.I don't think,crypto is seen as a real thread right now,but this may change with growing adoption.
I think it's very simple. Banks are afraid of competition from cryptocurrencies. They will never be able to coexist peacefully. People have no confidence in banks and therefore cryptocurrencies very quickly capture new users. The entire capitalization of the cryptocurrencies is lost revenue for banks. This is only the beginning. The problems of the banks will increase. Banks with cryptocurrencies play on the same field but cryptocurrencies play better.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: malbterxic on March 01, 2018, 03:07:06 PM

The fact is that banks are part of the public management system. National banks regulate the issue and turnover of national currency and bitcoin is an alternative to the banking structure and at the same time it is not under the control of the state!

This is the reason for the attacks


Title: Re: Why Banks are attacking Bitcoin ?
Post by: JTEN18 on March 02, 2018, 02:44:05 AM

The fact is that banks are part of the public management system. National banks regulate the issue and turnover of national currency and bitcoin is an alternative to the banking structure and at the same time it is not under the control of the state!

This is the reason for the attacks
We do respect them that banks are having a negative side when it comes to cryptocurrency, since it is hard for the government to create regulation on it since they don't control the price, I am just hoping that one day crypto and banks unite and we can freely transact crypto in bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: shaheer001 on March 02, 2018, 03:40:43 AM
Actually bank controls your money(fiat currency) But Bitcoin is decentralized and every person who hold is the only controller and beneficial so Banks are afraid of Bitcoin due to its total control by its community and total profit is also goes to holder.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Oasisman on March 02, 2018, 05:41:55 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

This topic has been discussed many times already, but in fairness to your research you made a very strong point. This is just few of the reasons why there are countries and banks  who hates and ban Bitcoin. In my own point of view the MAIN reason why the central banks as well as the government hate Bitcoin and get rid of it as possible as they can, is because they are afraid that they cannot control every individual in a society financially.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Thanasis on March 02, 2018, 04:42:58 PM
Simply bitcoin will replace the banking system if they allows it for some more years that is the main reason they are against the bitcoin,but many governments are regulating the crypto currencies so banks can't do any thing if the crypto currencies are taxed in that country.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kambal2000 on March 02, 2018, 04:55:14 PM

This topic has been discussed many times already, but in fairness to your research you made a very strong point. This is just few of the reasons why there are countries and banks  who hates and ban Bitcoin. In my own point of view the MAIN reason why the central banks as well as the government hate Bitcoin and get rid of it as possible as they can, is because they are afraid that they cannot control every individual in a society financially.
They don't know how bitcoin affects their system and the economy, and if I were the bank also and don't know bitcoin yet I would suggest not to do crpto especially when I have seen that the number of investors in the stock market were decreasing I will conduct study first if the dump has something against cryptocurrency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Lwtelencio on March 03, 2018, 12:44:59 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D
Maybe some reason why bank are attacking bitcoin are the loss of their profits, it is because bitcoin is decentralized cryptocurrencies and allowing people to trade directly with each other without any papers agreement. The bank against bitcoin because they cannot collect a charge fees for doing anything with money or maybe they scared when the time comes, lot of people will divert their money deposit unto bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Lampaster on March 03, 2018, 04:37:29 PM

This topic has been discussed many times already, but in fairness to your research you made a very strong point. This is just few of the reasons why there are countries and banks  who hates and ban Bitcoin. In my own point of view the MAIN reason why the central banks as well as the government hate Bitcoin and get rid of it as possible as they can, is because they are afraid that they cannot control every individual in a society financially.
They don't know how bitcoin affects their system and the economy, and if I were the bank also and don't know bitcoin yet I would suggest not to do crpto especially when I have seen that the number of investors in the stock market were decreasing I will conduct study first if the dump has something against cryptocurrency.
Why do you think they don't know the consequences? Bankers are not fools. They can count better than us all. Bitcoin is killing the traditional markets bankers. Now these volumes are not critical. So bankers can be better prepared for war. Bitcoin users are busy with their enrichment and do not see the approaching threat. I am very sorry that we are not United in the face of danger.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Leyss on March 04, 2018, 07:13:28 AM
Crypto currency completely violates the established by the centuries methods and rules of financial settlements between individuals and legal entities in any country. Being by nature very conservative, banks do not like anything new. In addition, they always worked with secured money. Crypto currency for banks is not only a completely new phenomenon, but also unacceptable according to existing rules and instructions.
However, the main reason why banks are attacking the crypto currency is that the crypto currency attracts more and more people and they stop using the services of banks and they lose their profits from this. Because of this, representatives of banks almost always criticize the crypto currency from their outdated position, often going into lies and ordering and spreading about the crypto currency of false negative information, as it was recently with the Polish bank, which for 30,000 dollars ordered the spreading of false negative information on social networks crypto currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: goaldigger on March 04, 2018, 08:07:06 AM
I dont see anything wrong about bitcoin except it is a threat to banking system. All theories are contradictory to cryptocurrency. Banks have a centralized system while crypto is not. If banks accept bitcoin on their system, then all countries will make it legal. People would choose decentralize system with freedom rather than system full of rules. This is why more people choose crypto rather than banks , and banks didnt want it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: TURCAN on March 13, 2018, 07:28:08 PM
There are a lot of reasons for the bank's bitcoin attacks. The banks are not happy because their customers are not getting enough money


Title: Re: Why Banks are attacking Bitcoin ?
Post by: DeadCoin on March 13, 2018, 11:52:52 PM
At the end its business. Fiats are the competitors of crypto currencies. If the government allows crypto currencies occupy the market, fiats will lose its value, When it loses value the economy of the country will be at toss. Hence the government is not allowing bitcoin or any other currencies into its country. Though they welcome bitcoin by creating their own crypto currencies, they do not accept bitcoin. This is the reason banks do not appreciate bitcoin to enter into the market.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BOOYAH787 on March 14, 2018, 03:42:19 AM


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Re: Why Banks are attacking Bitcoin ?
February 03, 2018, 09:56:33 PM
Reply with quote  #2
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Lieldoryn on March 14, 2018, 09:56:59 AM
I dont see anything wrong about bitcoin except it is a threat to banking system. All theories are contradictory to cryptocurrency. Banks have a centralized system while crypto is not. If banks accept bitcoin on their system, then all countries will make it legal. People would choose decentralize system with freedom rather than system full of rules. This is why more people choose crypto rather than banks , and banks didnt want it.
All people who use bitcoin do not give up Fiat money. Therefore, bitcoin is not a direct competitor for Fiat. But banks may lose their working capital. Why keep money in banks and fear that they will be blocked or will get under a press of tax. Banks are becoming an extra link. People do not need intermediaries that are very expensive.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Marcsymon on March 14, 2018, 10:52:34 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D


Very true but banks are not united of this so-called stand against Bitcoin because here in our country, our banks are fully supporting Bitcoin in which most of the major banks are in partnership with our local exchanges that we could use their cash out facilities anytime and anywhere in the country. In addition, our central bank is in support to legalize bitcoin in our country so that it could be regulate. So therefore not all banks is not against Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: glowing10 on March 14, 2018, 05:06:35 PM
Actually bank controls your money(fiat currency) But Bitcoin is decentralized and every person who hold is the only controller and beneficial so Banks are afraid of Bitcoin due to its total control by its community and total profit is also goes to holder.

They want to control everything and thus as bitcoin cannot be regulated as such they are having issues with this. Also it is better to transfer money and with less fees thus banks lose out he money making opportunity as people have started using btc rather than official banking channels.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: enhu on March 14, 2018, 05:11:51 PM
Actually bank controls your money(fiat currency) But Bitcoin is decentralized and every person who hold is the only controller and beneficial so Banks are afraid of Bitcoin due to its total control by its community and total profit is also goes to holder.

They want to control everything and thus as bitcoin cannot be regulated as such they are having issues with this. Also it is better to transfer money and with less fees thus banks lose out he money making opportunity as people have started using btc rather than official banking channels.


Its probably not surprising to us if banks are going to buy all the BTC to have the control over this craze. Its going to be unfortunate to them still because there are tons of altcions rising apart from bitcoin. They are currently trying to also have their own though, some are also trying XRP, I think they are going to dominate son when all is well with XRP. And when this happen I think the attack on BTC may stop.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: sindikat on March 14, 2018, 08:31:15 PM
Actually bank controls your money(fiat currency) But Bitcoin is decentralized and every person who hold is the only controller and beneficial so Banks are afraid of Bitcoin due to its total control by its community and total profit is also goes to holder.

They want to control everything and thus as bitcoin cannot be regulated as such they are having issues with this. Also it is better to transfer money and with less fees thus banks lose out he money making opportunity as people have started using btc rather than official banking channels.


Its probably not surprising to us if banks are going to buy all the BTC to have the control over this craze. Its going to be unfortunate to them still because there are tons of altcions rising apart from bitcoin. They are currently trying to also have their own though, some are also trying XRP, I think they are going to dominate son when all is well with XRP. And when this happen I think the attack on BTC may stop.
How can banks buy all bitcoins? That isn't possible. In order to destroy bitcoin banks have to buy all the coins and put them on hold. Imagine how the price of bitcoins will rise in such a situation. The last coins will be sold for billions of dollars. After that, Satoshi Nakomoto 2 will appear and say that he created a more modern bitcoin. There's never gonna be one.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: amzad on March 15, 2018, 10:42:14 AM
Big Banks want to destroy Bitcoin before it destroys them.
Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.
That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Theb on March 15, 2018, 11:20:01 AM
I can't say that majority of the central banks of different nations are directly shutting down Bitcoin. Only a few of them officially do not recognize Bitcoin as a mode of payment. Most of the central bank is doing are issuing warnings to their citizens about the common scams associated to Bitcoin and other cryptocurrencies. This are of course investment schemes such as HYIPs and cloud mining sites. What I can say about that is not a direct threat to Bitcoin but rather a notice to the greater welfare of their citizens.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: marcbitcoins on March 15, 2018, 12:08:28 PM

The fact is that banks are part of the public management system. National banks regulate the issue and turnover of national currency and bitcoin is an alternative to the banking structure and at the same time it is not under the control of the state!

This is the reason for the attacks

But after all of these aspects i wonder if all banks are in common stand against Bitcoin because here in our country our Central Banks are in full support of Bitcoin even due it is not yet legalize by our government. Many major banks here are in partnership with our major local exchange in which we could use the banks withdrawal facilities in order for us to easily to cash out our converted Bitcoins. So for me, not all banks are threaten of Bitcoin existence but only few of them i think.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hammond ltd on March 15, 2018, 01:33:56 PM
Last reson is 100% the best one ahaha
People love Bitcoin! And not only BTC, other crypto is loved as well cause it's a damn golden ticket to a future life!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: chekogotut on March 15, 2018, 02:25:27 PM
afraid of competition


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Sony.UK on March 15, 2018, 05:10:35 PM
It's a business marketing. As fiat being the competitor of crypto currencies, it aims to conquer the currency market. Fiat has loosen it's value  compared to crypto currencies especially to bitcoin. As banks are being the backbone of a country, the authority makes rules forbidding bitcoin into its country.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: SixOfFive on March 15, 2018, 10:03:14 PM
Banks are attacking Bitcoin because they know that a huge amount of people are shifting towards Bitcoin and in the near future it can replace the banking services. Some leaders of banking sector are shown the annoyance and exploitation of BTC and tried to create a negative environment for Bitcoin.  After considering the present situation of BTC it is tricky to say that BTC will be legalized in the near future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Johnyz on March 15, 2018, 11:33:03 PM
It's a business marketing. As fiat being the competitor of crypto currencies, it aims to conquer the currency market. Fiat has loosen it's value  compared to crypto currencies especially to bitcoin. As banks are being the backbone of a country, the authority makes rules forbidding bitcoin into its country.

and they keep saying negative things about cryptocurrency just to win the competition but again cryptocurrency is a great invention and in the future no one can stop on this even the government. So better not to focus on FUD news and start owning great crypto now, for you to enjoy a bigger profit years from now.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: golek upo on March 15, 2018, 11:58:19 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!
Agree with your opinion, reduction the income of banks is the main reason underlying hatred of bitcoin. Just imagine if all the people have been using blockchain for the delivery of the money, then the banks of course the banks will experience a decline in income very drastically.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Heat and rum on March 16, 2018, 12:05:06 PM
Big bosses see that their future is under question mark, they are afraid of competition and making loud and negative statements try to harm the image of  crypto


Title: Re: Why Banks are attacking Bitcoin ?
Post by: onebtcforlife on March 16, 2018, 12:44:44 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!
Agree with your opinion, reduction the income of banks is the main reason underlying hatred of bitcoin. Just imagine if all the people have been using blockchain for the delivery of the money, then the banks of course the banks will experience a decline in income very drastically.


Their major problem with Bitcoin is without any intermediatory like Banks people are trading by themselves without any further commissions. This makes them more frustrating about the Bitcoin and sees without any government and banks involvement the price of bitcoin is kept increasing.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hannahanto on March 16, 2018, 03:18:39 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

I agree with you. Banks attack for not only the reason you drafted above, but it includes the following. Business competition is another main point to look at. Crypto currencies are most welcomed and looked upon in the currency market. Investors are towards bitcoin and other crypto currencies. There seems to be less sharps being into local currencies. This decreases fiats revenue than bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Linggis on March 17, 2018, 06:33:00 AM
Banks attacked Bitcoin because the bank did not want its position replaced with Bitcoin. Banks just want the whole community to use real money instead of Bitcoin. The bank must feel rivaled by Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: SmDGrinder on March 17, 2018, 10:03:15 AM
Because of several reasons (and much more actually)
Everyone is able to transfer huge amounts to the other side of the world for free.
Lack of paperwork.
Banks can`t use the crypto money and invest them as if they were deposited. It is well known fact that the banks invest our money and if 10-15% of the clients decide to withdrawal their savings - the bank can easily crash.
So banks liquidity decreases - if we go crypto.
Their centralized system cannot follow your every move and have a full control of incomes, taxes etc.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ValerKat on March 18, 2018, 06:33:05 PM
Everyone is able to transfer huge amounts to the other side of the world for free.

Not for free. Everyone who wants to transfer bitcoin pays fee. To blockchain. Banks are angry because they have nothing from thousands of operations and have no opportunity to control them.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: micloop on March 18, 2018, 06:37:26 PM
I guess the banks hates BTC because it solves the problems that they don't, and because of that, it takes a lot of profit from they, such as infamous fees that they put on us.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ValerKat on March 18, 2018, 07:44:57 PM
Banks attacked Bitcoin because the bank did not want its position replaced with Bitcoin. Banks just want the whole community to use real money instead of Bitcoin. The bank must feel rivaled by Bitcoin.

Don't forget that BTC's total amount is only 21 million. It's very few for people from all over the world. That's why I regret that Bitcoin can ever replace fiat money.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Alik_Rzasoy on March 18, 2018, 09:38:24 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

From the point of Banking system, the main reason is  cheaper transferring fee, easy and quick delivery of the payment, secondly Bitcoin is already considered as currency that can influence on other currencies, in which, it can cause on loss of profits for Banking System and investors involved in Banking sector.



Title: Re: Why Banks are attacking Bitcoin ?
Post by: Eleven86 on March 18, 2018, 09:57:28 PM
Banks are attacking bitcoin due to competition. If bitcoin enters the value of fiat will lose its value, this the main reason banks are not accepting bitcoin. If they accept bitcoin their country economy will go down. So banks are afraid to accept bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Ishiro5 on March 19, 2018, 07:35:54 PM
From Jamie Dimon to the most unpopular bank executive around the world, the fact is that they all feel threatened cryptocurrencies would someday in the near future end the era where they have control and profit over people's resources and give them next to nothing interest in return. They feel the coming into mainstream of bitcoin and other cryptos alike will end their jobs. At a forum with senior Central bank executive in my country on cryptos, one of them made it clear they were actually against it because they strongly feel crypto guys were going to take over their jobs. Of course the two can co-exist, but most likely one would make the other much less relevant and that is sure to be cryptos.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: DeadCoin on March 19, 2018, 07:47:48 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

I would better word as competition between fiat currency and crypto currency. Banks are on fiats. Though local fiats are the main source for every government, crypto has shown its strength in last few years in the market that they can lead the country with more wealth then the local fiats. Yes it does. Crypto has given a wealthy lives to its users and the government who accepted it. As crypto currency is mainly looked at now by the investors, fiats and banks are against it attacking its growth by many means.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Granxis on March 19, 2018, 08:33:27 PM
Banks are attacking bitcoin due to competition. If bitcoin enters the value of fiat will lose its value, this the main reason banks are not accepting bitcoin. If they accept bitcoin their country economy will go down. So banks are afraid to accept bitcoin.
In fact, the banks are afraid of Bitcoin's ad, so Bitcoin is worth 15,000 or $ 1,500 does not matter. But when Bitcoin goes up to $ 20,000, everyone is talking more about Bitcoin, and the flow of money flows towards Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: btc.fanda on March 21, 2018, 11:49:25 AM
I think there are two reasons one Banks attacking bitcoin because they cannot hold and earn money unlike other currency and another they are also afraid of losing control.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: budz0425 on March 21, 2018, 05:58:16 PM
I think there are two reasons one Banks attacking bitcoin because they cannot hold and earn money unlike other currency and another they are also afraid of losing control.
They have seen the potential inside cryptocurrencies, because instead of putting your money in a bank and opening a bank account but what is happening is that you are investing it in crypto that is why they are finding it as a threat in their revenue and a big rival.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: dmonrey002 on March 22, 2018, 01:12:24 PM
because of the loss of profits. banks are afraid about it. its gonna be real if they dont adopt the technology . but if they adopt the technology of having a blockchain. the end are same still loss of profits. they cannot build a decentralize blockchain for  their bussiness. who people in the world show his confidential documents,transaction in public.  the only thing i think they can build  is a private blockchain in short. (private database) still the same.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: futureofeth on March 22, 2018, 02:17:57 PM
I think there are two reasons one Banks attacking bitcoin because they cannot hold and earn money unlike other currency and another they are also afraid of losing control.
They have seen the potential inside cryptocurrencies, because instead of putting your money in a bank and opening a bank account but what is happening is that you are investing it in crypto that is why they are finding it as a threat in their revenue and a big rival.

The main reason behind attacking bitcoin because they don't have any control of Bitcoin, without them people are transferring money to each other, this makes more nervous about the bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: kwabeedat on March 22, 2018, 02:24:13 PM
Banks don't like bitcoin because they think it's a threat to the fiat. In my opinion i think it's the influence of countries since they think their currencies are at risk, becaue the banks accept crypto as part of their system. Also banks are cheating and getting money from us so they'll fight against any form of financial freedom


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tambok on March 23, 2018, 03:44:48 PM
Banks don't like bitcoin because they think it's a threat to the fiat. In my opinion i think it's the influence of countries since they think their currencies are at risk, becaue the banks accept crypto as part of their system. Also banks are cheating and getting money from us so they'll fight against any form of financial freedom
When in fact it is the truth, the true existence of bitcoin is to make the world becomes cash less to make changes in the whole world, so  far we can see right now that it is too far to happen, let us see what will happen in the future, but so far banks are attacking bitcoin as they know what could happen in the Economy in the future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: CryptoKu-een on March 23, 2018, 05:02:42 PM
But then, we MIGHT be seeing banks working with bitcoins if ever that it dominates the market. The bank's choice will either be extinct, or adapt it. And I'll make sure what their choice is if the time comes.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: sheenshane on March 23, 2018, 05:23:18 PM
Banks don't like bitcoin because they think it's a threat to the fiat. In my opinion i think it's the influence of countries since they think their currencies are at risk, becaue the banks accept crypto as part of their system. Also banks are cheating and getting money from us so they'll fight against any form of financial freedom
When in fact it is the truth, the true existence of bitcoin is to make the world becomes cash less to make changes in the whole world, so  far we can see right now that it is too far to happen, let us see what will happen in the future, but so far banks are attacking bitcoin as they know what could happen in the Economy in the future.
Because of banks and governments think that bitcoin is one of their competitive near in future, and may this lead to corruption of some politicians that hiding their real identity and may use for illegal activities for them. They attact bitcoin because they want to regulate the money for the people from bitcoin of their country and to have tax on it but they failed on it so that's why some of countries are banning not only bitcoin but all crypto currencies.

Luckily our government and banks here are embracing and recognized bitcoin as a kind of currency, so we are enjoying in crypto world.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MCVXYZ on March 23, 2018, 06:21:28 PM
Banks are attacking bitcoin due to competition. If bitcoin enters the value of fiat will lose its value, this the main reason banks are not accepting bitcoin. If they accept bitcoin their country economy will go down. So banks are afraid to accept bitcoin.
In fact, the banks are afraid of Bitcoin's ad, so Bitcoin is worth 15,000 or $ 1,500 does not matter. But when Bitcoin goes up to $ 20,000, everyone is talking more about Bitcoin, and the flow of money flows towards Bitcoin.


Or maybe because cryptomarket is usually a good way to orginize their economical activities? So what I can say is that all of commercial banks are interested only in their own business and they don't care about something,I don't know what kind of attack he/she means but its obvious commercial banks are using bitcoin and other cryptocurrencies for their economical goals...Even goverment agencies participate in the market in order to achieve specific goals and maybe its not an attack,who knows...today the main factor is to not damage  the boundary between banks and cryptos,which is impossible for me but it depends only on people's knowledge and experience...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: deppil on March 24, 2018, 07:53:14 AM
Banks are attacking bitcoin due to competition. If bitcoin enters the value of fiat will lose its value, this the main reason banks are not accepting bitcoin. If they accept bitcoin their country economy will go down. So banks are afraid to accept bitcoin.
In fact, the banks are afraid of Bitcoin's ad, so Bitcoin is worth 15,000 or $ 1,500 does not matter. But when Bitcoin goes up to $ 20,000, everyone is talking more about Bitcoin, and the flow of money flows towards Bitcoin.

I think the problem is not in the price. when bitcoin becomes popular certainly many people will see the existing facilities on bitcoin and many people see that saving money in bitcoin will give absolute freedom to transact and save money. without any control and intervention from anyone and that's a stark contrast with the bank. I think that's what the bank is afraid of


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MCVXYZ on March 25, 2018, 12:19:40 PM
Banks are attacking bitcoin due to competition. If bitcoin enters the value of fiat will lose its value, this the main reason banks are not accepting bitcoin. If they accept bitcoin their country economy will go down. So banks are afraid to accept bitcoin.
In fact, the banks are afraid of Bitcoin's ad, so Bitcoin is worth 15,000 or $ 1,500 does not matter. But when Bitcoin goes up to $ 20,000, everyone is talking more about Bitcoin, and the flow of money flows towards Bitcoin.

I think the problem is not in the price. when bitcoin becomes popular certainly many people will see the existing facilities on bitcoin and many people see that saving money in bitcoin will give absolute freedom to transact and save money. without any control and intervention from anyone and that's a stark contrast with the bank. I think that's what the bank is afraid of

Maybe you are right but I said that they use this situation for their own well-being,I know a lot of commercial banks who have created crypto exchanges and crypto wallets into their consumers account,for me,This means that they believe in it and they expect more income from cryptos  than from their banking activity.Its not about big banks and of course there are also opponents,which are trying everything to share only negative about bitcoin,but I think time will put everything in its place...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ahmad21 on March 25, 2018, 03:28:52 PM
Adding another point into it. Cryptos and bitcoin are actually unregulated which means there is no centralized authority which can affect its price or supply directly. So this makes these banks worried as they will now not be able to control the money supply and demand in bad times. Governments will not be able to trace you out and collect taxes from you. So this is why banks are attacking bitcoins.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: biboy on March 25, 2018, 04:37:11 PM
Adding another point into it. Cryptos and bitcoin are actually unregulated which means there is no centralized authority which can affect its price or supply directly. So this makes these banks worried as they will now not be able to control the money supply and demand in bad times. Governments will not be able to trace you out and collect taxes from you. So this is why banks are attacking bitcoins.
That is right, that is why banks does not want bitcoin because they don't want that some of their depositors or investors will swift their investment that should be put in bank but will just put their investment in cryptocurrency, that is why they are seeing cryptos as a threat.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: zmkriel on March 25, 2018, 04:38:40 PM
Simply because cryptos are the biggest competitors of the banks in so many ways. And what they are threatened more would might be the bank big investors will change of heart to rather invest in bitcoin and withdraw their assets from the bank. In that case lots of bank will be gone and declared bankruptcy and that scares them even more.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: DeadCoin on March 26, 2018, 06:11:17 PM
Simply because cryptos are the biggest competitors of the banks in so many ways. And what they are threatened more would might be the bank big investors will change of heart to rather invest in bitcoin and withdraw their assets from the bank. In that case lots of bank will be gone and declared bankruptcy and that scares them even more.

This is business all about. A cold war against one currency to the other currencies. as crypto is ruling  the currency market now,  banks are bit behind profits. The banks are the back bone of every government and this is the reason many governments lack back in accepting bitcoin or any other crypto currencies which will cause loose fiat's values slowly.  So no surprise if banks fight against bitcoin or any other crypto currencies.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Rustamm on March 26, 2018, 08:26:41 PM
Banks will still try to attack the crypto currency until it becomes firmly entrenched in the society and the banks will have no choice but to accept the existence of the crypto currency. It is necessary to take into account that the crypto currency is distracting their clients from banks and they suffer huge losses from this. Therefore, they often become the initiators of campaigns to discredit crypto currency, often paying them, as it was recently with one of the banks of Poland, which ordered for 30 000 dollars false negative information about the crypto currency in social networks. Only when the crypto currency is legalized in most states, only then will the banks reconcile with this position and will coexist with the crypto currency, adapting to the changed situation.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: qwertyup23 on March 27, 2018, 05:46:52 AM
Banks are attacking bitcoin due to competition. If bitcoin enters the value of fiat will lose its value, this the main reason banks are not accepting bitcoin. If they accept bitcoin their country economy will go down. So banks are afraid to accept bitcoin.
In fact, the banks are afraid of Bitcoin's ad, so Bitcoin is worth 15,000 or $ 1,500 does not matter. But when Bitcoin goes up to $ 20,000, everyone is talking more about Bitcoin, and the flow of money flows towards Bitcoin.


Generally, banks want to eliminate bitcoin as they see it as a threat to their system. They believe that they must remove it before it removes them! Due to bitcoin being free from any government control and people are utilising it as an alternative currency, banks are somehow reluctant that it may become so large that people would start choosing it over them! Remember, banks are also controlled by most philanthropist and they consider it as business. Who would not want to eliminate other threats that may disrupt their earnings?

Source: https://www.forbes.com/sites/panosmourdoukoutas/2017/09/14/why-big-banks-attacked-bitcoin/#91b8c236c534


Title: Re: Why Banks are attacking Bitcoin ?
Post by: izanagi narukami on March 27, 2018, 07:08:47 AM
Simply because cryptos are the biggest competitors of the banks in so many ways. And what they are threatened more would might be the bank big investors will change of heart to rather invest in bitcoin and withdraw their assets from the bank. In that case lots of bank will be gone and declared bankruptcy and that scares them even more.

Well it doesn't happen at my place because my bank's governor already declare that bitcoin is forbidden and only fiat is valid for daily transaction.

For me personally bank and crypto are different things so if bank attack bitcoin , It's kinda weird but as we know that G-20 still not take any action on crypto yet until further notice


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BTCeminjas on March 28, 2018, 07:01:14 AM
Simply because cryptos are the biggest competitors of the banks in so many ways. And what they are threatened more would might be the bank big investors will change of heart to rather invest in bitcoin and withdraw their assets from the bank. In that case lots of bank will be gone and declared bankruptcy and that scares them even more.

Well it doesn't happen at my place because my bank's governor already declare that bitcoin is forbidden and only fiat is valid for daily transaction.
That's what the hardest part when your country is like that ignoring bitcoin or cryptocurrencies, they prohibited on this because they know that someday it is their big competent in all investors instead using bank they use crypto's the what will happen in the country if that happens. But hopefully, there's a law regarding with this in every country that embraces bitcoin and cryptocurrencies as well.

Luckily here our country was friendly on bitcoin, besides the Central Banks here recognized that bitcoin is a part of currency that may be having a transaction and they warned people to be careful on possibilities that having Ponzi scheme.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jamids on March 28, 2018, 07:32:40 AM
Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would use cryptocurrency and transfer their wealth to it, the lesser customer the banks would have which would mean less profit. Even if there are no applicable rules to cryptocurrency, some banks already restrict some account holders to discouraged others to be involved with it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Gecko8 on March 28, 2018, 09:37:57 AM
Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would use cryptocurrency and transfer their wealth to it, the lesser customer the banks would have which would mean less profit. Even if there are no applicable rules to cryptocurrency, some banks already restrict some account holders to discouraged others to be involved with it.

In my opinion banks actually do love cryptocurrencies. But I believe, they are already working on their own ones, which they can completely control. Now with new products also based on bitcoin futures as an example they already started to earn also money on cryptos.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Irvinn on March 28, 2018, 07:24:51 PM
Banks are attacking and while they continue to attack bitcoin because he and other crypto-currencies take away their clients, and with them their profits. Therefore, banks are trying by any means to compromise the crypto currency in order for less people to switch to its use. They use the organization of direct libelous articles and videos in social networks, as it was recently with one of the banks of Poland, and before sending out apparently innocent letters warning of possible risks when investing in the crypto currency. Credulous citizens and this is enough to no longer be interested in further crypto currency. This will continue until the states recognize the crypto currency and continue such attacks will be meaningless. Then the banks will have to rebuild and begin to adapt to it and extract their profits from its circulation.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: senin on March 28, 2018, 08:51:47 PM
It should be recognized that banks are now really attacking the crypto currency, and above all bitcoin because of the fact that the crypto currency is a very good and dangerous competitor for them, which is able to take their work from banks and, most importantly, their profits. Therefore, banks are still trying by any means to compromise the crypto currency and form a negative attitude towards citizens. This will continue until the crypto currency is legalized and will not be regulated by the states. However, the crypto currency and banks will always remain competitors.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: solarion on March 28, 2018, 09:14:43 PM
It should be recognized that banks are now really attacking the crypto currency, and above all bitcoin because of the fact that the crypto currency is a very good and dangerous competitor for them, which is able to take their work from banks and, most importantly, their profits. Therefore, banks are still trying by any means to compromise the crypto currency and form a negative attitude towards citizens. This will continue until the crypto currency is legalized and will not be regulated by the states. However, the crypto currency and banks will always remain competitors.

We need to understand, if bitcoin raises and completely capture all the transaction medium means then banking will be collapsed and will face the financial crisis in the many places. More over corporates and shit politicians will not be able to survive bitcoin in the market due to banking ends up.

Now Japan and then China tomorrow about legalizing bitcoin. I hope with in 10 years usage of bitcoin and cryptos will be larger among all set of people bro.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Sithara007 on March 29, 2018, 05:34:57 AM
The advantage with Bitcoin and other forms of crypto-currency is that you can store them without any help from the banks. So if a large number of people start using BTC to store their wealth, then the banks may witness a decline in their annual profits and revenue. So it is not surprising that the banks are attacking Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hindi.Lu on March 29, 2018, 08:00:09 AM
who controls the financial world does not want to lose its power ... and all its gains. the banks lose power when they lose customers (if we all choose the blockchain and abandon the banks ...  ::) ;D ;))
albeit very different, cryptocurrencies can be considered the competition of the traditional banking system.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: sundul on March 29, 2018, 08:21:08 AM
The Banks attack Bitcoin because the Bank does not want its position replaced by Bitcoin. There are so many people who use Bitcoin as a transaction tool even as an investment asset. So the Bank is very worried about the presence of Bitcoin increasingly rampant in the World.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: denny27 on March 29, 2018, 09:51:48 AM
I think one of the causes is because most banks have difficulties to regulate the existence of bitcoin considering all its characteristics quite contrary to the applied systems. But this will be another story, if indeed the banks can really deepen the technology associated with bitcoin and all its characteristics, maybe it can avoid any risks or impacts that affect the financial system.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Blondy12 on March 29, 2018, 11:26:06 AM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!
Absolutely right. In addition to this statement, Banks are threatened that they might lose their huge investors, withdraw their saving and invest it in bitcoin. To think that bitcoin can give more profits than bank who only offers ablittle bit of interest from our savings. While in bitcoin, our smll small will definitely make a fortune in a long term investment and to think that it is decentralised. So why would investors still stick to bank, right?


Title: Re: Why Banks are attacking Bitcoin ?
Post by: mitha rosdiana on March 29, 2018, 01:27:41 PM
Bitcoin as a payment solution is a good opponent of banks. That's why the don't like Bitcoin. It also has an advantage of being a currency that any bank can not beat. So, most economists don't like Bitcoin both as a payment solution and as a currency. That's why they say Bitcoin is a bubble time to time...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kronos21 on March 29, 2018, 03:38:29 PM
Why do banks destroy bitcoin, this is understandable. They cannot accept that someone is encroaching on their monopoly over our money. But bitcoin is not just attacked by banks. That the government is not attacking bitcoin? They also do not want to lose the financial leverage on all citizens. Big capital is also against bitcoin. They're losing money on our money. I'm sorry people don't understand that.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Prinox2 on March 31, 2018, 03:09:53 PM
Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

To be fair, bankers aren’t the only ones that have raised their level of skepticism about the rapid ascend of Bitcoin and other digital currencies. But to call the digital currency a fraud and a tulip is more than skepticism, in my opinion. It undermines the potential of Bitcoin to become a “peoples’ currency,” and replace national currencies.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: hacekd on April 01, 2018, 09:45:56 AM
Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Lieldoryn on April 01, 2018, 12:50:21 PM
Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.
You drew the perfect picture. But in fact, we are still very far from it. A large number of people who are bitcoin users are happy to agree to accept the conditions for regulating bitcoin that governments offer. People have not got rid of the habit of using Fiat. And this makes bitcoin easy prey for bankers.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Greenkarki on April 02, 2018, 10:50:48 AM
Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.
You drew the perfect picture. But in fact, we are still very far from it. A large number of people who are bitcoin users are happy to agree to accept the conditions for regulating bitcoin that governments offer. People have not got rid of the habit of using Fiat. And this makes bitcoin easy prey for bankers.

The main reason behind this is if bitcoin enters it will dominate the fiat. Many people now using bitcoin as their main asset if it continues no one needs bank for investment. Because the profit is more when compare to ban interest. So they never allow bitcoin to enter the country. If government allows bitcoin people use only bitcoin they never use local fiat.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: maarx on April 03, 2018, 04:46:12 PM
Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.
You drew the perfect picture. But in fact, we are still very far from it. A large number of people who are bitcoin users are happy to agree to accept the conditions for regulating bitcoin that governments offer. People have not got rid of the habit of using Fiat. And this makes bitcoin easy prey for bankers.

The main reason behind this is if bitcoin enters it will dominate the fiat. Many people now using bitcoin as their main asset if it continues no one needs bank for investment. Because the profit is more when compare to ban interest. So they never allow bitcoin to enter the country. If government allows bitcoin people use only bitcoin they never use local fiat.

Right. The main reason behind banks attacking or interfering crypto currencies' growth is fear of dominance. As crypto has been ruling the currency market, fiat's growth is drawn to the ground. Investors started pitching into crypto currencies than fiats. This moment brings down every move taken from local currencies. Banks can gain more when fiats so capture the market.  It's failing now. This is the reason,  banks personalities manipulate government authorities to ban crypto currencies especially bitcoin now.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tmp2 on April 04, 2018, 07:35:48 AM
Actually, many banks are aspiring to break Bitcoin and of course, there is a big support from their governments. As well, it is very unfortunate that they are always attacking this currency, but the only reason is the financial losses and the widespread economic crisis in many countries and due to there is a decrease in the value of their currencies (FIAT).
As a matter of fact, the digital currencies and especially "Bitcoin" have become more successful than before, and these currencies are always criticized from many governments (Banks) because  they are not beneficiaries of financial transactions and there has been an increase in the number of  cryptocurrencies users.
In fact,  I think that the continuation of Bitcoin development and other currencies  will lead to recognition from all governments.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Sayed Rifat on April 05, 2018, 01:35:49 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

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Big Banks want to destroy Bitcoin before it destroys them.
Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.
That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: palvinta on April 05, 2018, 08:07:23 AM
Banks attack Bitcoin because the Bank is aware that the existence of the Bank is being threatened because of the digital currency is increasingly known to many people around the World. But I'm sure although many people do not like Bitcoin, Bitcoin will still be able to survive anytime. And the price of Bitcoin over time will be higher.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Helen17 on April 06, 2018, 10:12:30 PM
They do it cause bitcoin is killing banks, it's no more than a counter-attack. They try to defence their right to take money from our pockets and leave in theirs


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MCVXYZ on April 09, 2018, 12:47:35 PM
Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would use cryptocurrency and transfer their wealth to it, the lesser customer the banks would have which would mean less profit. Even if there are no applicable rules to cryptocurrency, some banks already restrict some account holders to discouraged others to be involved with it.

Bitcoin is not the greatest threat to their progress,But people nowadays prefer to make bitcoin transactions,because its more practically and comfortable,therefore very secure...When I say its secure,I mean that you don't need to share your personal or another identificial information with another intermediary,So you don't need to have trust,Everything is recorded by an collection of untrusted nodes and they keep track of blocks,What does it mean? Bitcoin gives better service than banks,but when I said that its not the greatest threat to progress I meant that commercial banks already use it too for their financial purposes,they use it for their own well-being...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: shendy on April 09, 2018, 01:28:01 PM
If the Bank attacks Bitcoin it's a sign that the Bank is very afraid of the existence of Bitcoin which is increasingly known to the public throughout the World. With more and more people who know and use Bitcoin, of course, the existence of the Bank is very threatened and people would definitely prefer Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: RuslanDua on April 09, 2018, 07:09:21 PM
Everything is easy and simple. With blockchain we are ordinary people, businesses, big organizations just get rid of the bank intermediation. Everything will be easy to follow. Any transaction will be visible. There will be less deception and extortion with these huge interests. Banks have something to fear and this fear is a crypto currency. But this does not hide one day, if they do not take everything under themselves We will all be happy and happy


Title: Re: Why Banks are attacking Bitcoin ?
Post by: maarx on April 09, 2018, 07:49:05 PM
I have received an email alert stating that RBI has announced all the entities linked with RBI should not deal with crypto currencies or virtual currencies. Though there might be a competitive attitude behind it, I have other thought why they announced this. We did have a wallet like Paytm from jio. We do have talks on son of JIO owner is in progress of launching his own crypto coin in adapting blockchain into their business. They might wish to have cryptos exchanged to jiocoin (crypto found by Jio) and exchange that to Indian rupees. This would enlarge their market right? Lets just wait and see what is really going to happen.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Claudyah on April 10, 2018, 07:11:55 AM
because banks in some countries regard bitcoin as a harsh threat to their world of economies, not just a lack of currency themselves can be replaced by digital currencies, but the risk of more criminal rates


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jaocoincrypto18 on April 10, 2018, 12:24:14 PM
Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would use cryptocurrency and transfer their wealth to it, the lesser customer the banks would have which would mean less profit. Even if there are no applicable rules to cryptocurrency, some banks already restrict some account holders to discouraged others to be involved with it.

But for me not all banks are against Bitcoin existence like here in our country in which our Central bank is fully supported the existence of Bitcoin currency and our major banks are in partnership with our local exchange (coins.ph), that we could use fully all of their cash out facilities such as ATM and over the counter transactions. These are all in spite of Bitcoin is not legal nor ban here in our country therefore i could say not all banks are really against Bitcoin currency existence.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: zarados on April 10, 2018, 12:31:53 PM
there may be a bad side of bitcoin or cryptocurrency that is mostly regarded as a threat to the banks and the economy. That bitcoin can cause inflation. That is evidenced by the profit generated from bitcoin is very high, although the fluctuation rate is also very high. If there is inflation, it will greatly affect the economic conditions and can trigger a crisis.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reality18 on April 10, 2018, 02:10:14 PM
Quote
The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

Of course, people love bitcoin because it offers a revolutionary financial transaction system which is more convenient than what the banks offer. Bitcoin offers users the full control over their own financing and this part scares the banks as they no more hold in custody such powers to control and debit some amounts for their own benefits. In no time, Blockchain technology and bitcoin will see a global patronage with more other impressive features added.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kromoshom on April 10, 2018, 03:32:58 PM
Maybe bitcoin contributes to the development of financial stability on a global scale, and banks feel threatened
In the banking system.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Bagaji on April 10, 2018, 07:23:47 PM
It is all our hope that country world over will accept or adopt Bitcoin as as the means of exchange for goods and services. Banks see Bitcoin and crypto currency in general as an alternative to the services they render and that Bitcoin and other altcoins are accepted by their government they may loose the position they are currently occupying in the financial sector.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jhongzjhong on April 10, 2018, 08:08:54 PM
It is all our hope that country world over will accept or adopt Bitcoin as as the means of exchange for goods and services. Banks see Bitcoin and crypto currency in general as an alternative to the services they render and that Bitcoin and other altcoins are accepted by their government they may loose the position they are currently occupying in the financial sector.
And that matter some banks attacking bitcoin because they think that bitcoin is their big competitor near in the future.
If this bitcoin will expand more population the banks will lesson investors because people want to invest in the easiest way and they have a right to hold their money. In this aspect banks now in some countries are taking actions regarding cryptocurrencies trying to manipulate bitcoin and we hope that someday banks and crypto are one.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Spaffin on April 11, 2018, 07:06:51 PM
It is necessary to get used to the fact that the banks are not unfriendly, but even with a certain hostility they refer to the crypto currency. And this is absolutely logical. The Crypto-currency takes away from the banks their clients, and together with them also takes away the profit. Therefore, often banks act as customers in spreading false negative information about the crypto currency in social networks and mass media so that less people pay attention to the crypto currency and take a great interest in it in order to conduct financial calculations.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Ailmand on April 11, 2018, 07:15:16 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

Good read mate. However, I think that instead of "attacking", I think that banks are just protecting or safeguarding their assets from something that can potentially be market-altering. The cryptocurrency market is a new market so-to-speak, and at the moment it is showing so many negative things that might scare away any probable investor, and since it involves business and money, which in turn, where banks get their bread and butter. They are just trying to protect themselves from the backlash if this market rises. However, I think, in the future, they would also delve into this market because it's a legit market nonetheless.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: nebuch on April 12, 2018, 05:01:42 AM
Bitcoin is the storage of virtual currency. It is decentralized not own by government. Not bounded by rules that implemented by the government. While bank is the storage of fiat and opposite to bitcoin.
It goes normal that banks will against btc for it is all about money matter.
While there is money banks will go for it to have some benefits. Especially bitcoin is not just a single penny to collect but it could be a huge amount to claim.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: QuynhVu2302 on April 12, 2018, 07:06:41 AM
It is quite understandable that banks will lose profits. Banks are extremely profitable from the collection of fees. Bitcoin uses faster technology so the fees are much cheaper than banks


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Greenkarki on April 12, 2018, 10:20:55 AM
It is quite understandable that banks will lose profits. Banks are extremely profitable from the collection of fees. Bitcoin uses faster technology so the fees are much cheaper than banks

The main reason behind this is once bitcoin accepted by the country it will dominate the local fiat. There is no value for local currency. People only use the bitcoin not local currency. Because the value of bitcoin is more than that of fiat. And another thing is tax problem still there is no tax for bitcoin. So it will affect the country's economy. That's why banks are not allow bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: QuynhVu2302 on April 12, 2018, 10:52:50 AM

Banks will lose a lot of profit if bitcoin is used, because bitcoin makes transactions move faster with a smaller fee.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: HereisTommy on April 12, 2018, 02:47:57 PM
Cause bitcoin steals their money. Metaphorically, of course, but it is true


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hannahanto on April 12, 2018, 05:57:58 PM
Cause bitcoin steals their money. Metaphorically, of course, but it is true

Banks are attacking bitcoin due to afraid of bitcoin growth. Day by day bitcoin users are increasing all over the world. If bank accepts bitcoin it will affect the economy's growth of the country.  Bitcoin will dominate loacl fiat and people use only bitcoin for their transaction. It would leads banks a grear loss. Banks profits are reduced and tax problem will occur. Due to this reason banks are not accepting bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: zarados on April 12, 2018, 08:04:20 PM
It is quite understandable that banks will lose profits. Banks are extremely profitable from the collection of fees. Bitcoin uses faster technology so the fees are much cheaper than banks

The main reason behind this is once bitcoin accepted by the country it will dominate the local fiat. There is no value for local currency. People only use the bitcoin not local currency. Because the value of bitcoin is more than that of fiat. And another thing is tax problem still there is no tax for bitcoin. So it will affect the country's economy. That's why banks are not allow bitcoin.

it would be great if something is not the purpose of creating bitcoin to be a real thing. Bitcoin will dominate the local currency? While bitcoin is only a protocol aimed at changing the way people transact between people, between cities and even between countries without any difference in cost. It is not easy to change the means of payment in a country, it will have an impact on the local and global economy.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ajoygb on April 13, 2018, 03:21:40 PM
Bitcoin, the “ people's currency,” has the potential to become a new currency, free of the control of big governments and big banks. Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would used it the more their business go down.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Edraket31 on April 13, 2018, 07:27:34 PM
Bitcoin, the “ people's currency,” has the potential to become a new currency, free of the control of big governments and big banks. Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would used it the more their business go down.
But for now, banks are getting stable and it seems that they are making a consideration to having a cryptocurrency, they know that no matter what negative news they will gonna spread, no matter how much they will tell people that it is risky they will never stop people to have it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: budz0425 on April 14, 2018, 06:07:17 AM
Bitcoin, the “ people's currency,” has the potential to become a new currency, free of the control of big governments and big banks. Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would used it the more their business go down.
But for now, banks are getting stable and it seems that they are making a consideration to having a cryptocurrency, they know that no matter what negative news they will gonna spread, no matter how much they will tell people that it is risky they will never stop people to have it.
Banks are still hitting bitcoin by making some noise in social media and all over the internet, as they don't want to have bitcoin in their life, so for me, it is fine because I don't see people taking those negative feedback in a negative way, in fact they are still in touched more in bitcoin now.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Temujhin on April 15, 2018, 07:03:18 AM
Perhaps a few years back or now cryptocurrencies have had a major impact on the global financial economy then the Central Bank in many countries feels threatened, even now bitcoins attack bank control because of the movements in the amount of money that keeps circulating and makes the central bank in the world start to get hot


Title: Re: Why Banks are attacking Bitcoin ?
Post by: t2yax on April 15, 2018, 07:31:24 AM
Banks have their own purposes, I think, banks want bitcoin, they know what bitcoin will be in the future. Banks know that crypto can be one of their problem. Bitcoins can compete to banks, eventually, banks have their own interest rates, but the interest of it is so small. Instead investing to banks, invest your money to bitcoin, and see what will be your future


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Midesiz on April 15, 2018, 06:16:47 PM
Banks are attacking bitcoin and crypto-currency market because bitcoin opposing the money transfer by means of banks.And in future , maybe there is no need any banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Vektrum on April 15, 2018, 06:26:39 PM
Crypto currency for banks is a strong and worthy opponent in the field of financial relations. Banks have always enjoyed the support of the state, since they are practically an integral part of it. Therefore, until now, real banks have not had any real competitors. Crypto currency is a strong competitor for banks, and due to the fact that it is decentralized, banks can not pressure the crypto currency by an administrative method, as they used to do earlier. Considering that many people stopped using the services of banks and the same operations began to be carried out independently in the crypto currency without the participation of banks, banks began to lose their profits. Banks have nothing to do either to compromise the crypto currency or by warning that it is a very risky investment of funds, or to organize the appearance of false negative information about the crypto currency in the media, as it was recently observed with one of the banks in Poland.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Snarks on April 15, 2018, 08:06:54 PM
Looks like they were just trying to slow down adoption while filing patents and developing applications. You didn't expect them to be like sitting ducks while the world moves on with crypto, did you?


Title: Re: Why Banks are attacking Bitcoin ?
Post by: imsotiredofmoviereboots on April 16, 2018, 07:56:09 AM
I really like the last reason why banks are attacking bitcoin. We want to show the banks that we don't really like how they operate and use our money and that's why we shifted our interest to bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: hussnainali on April 16, 2018, 09:09:40 PM
The reason banks are attacking on bitcoin is because they are not getting as much profits as they use to make when bitcoin was not popular as people are now shifting there money into bitcoin and they can transfer there money all over the world with very low transaction fee as banks used to charge high fee to broadcast there payments, hence banks are going in loss.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: King Koy on April 16, 2018, 10:12:06 PM
What if the bank is not actually against bitcoin but they are actually the family of the whales helping each other to dump the price of bitcoin to own it. What if they are just using the advantages of bitcoin and the disadvantages of a bank to convince the community that they are against with it but behind their motives is to gather bitcoin as much as they can after spreading FUD and then pump it to earn big.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Amrxx on April 18, 2018, 06:00:00 PM
Banks attack the crypto currency because they see it as a competitor, which can simply displace them from this business!
And if this happens, the money (which we all know) will turn into ordinary pieces of paper and will begin to depreciate (with rublem it just happens)!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kambal2000 on April 19, 2018, 05:13:21 PM
Banks attack the crypto currency because they see it as a competitor, which can simply displace them from this business!
And if this happens, the money (which we all know) will turn into ordinary pieces of paper and will begin to depreciate (with rublem it just happens)!
They are just  attacking bitcoin because they are just concern with the citizen of the country, and with their company, if a certain person finds it more profitable to invest in bitcoin so tendency is that they will going  to switch their investment with it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: cryptojac17 on April 20, 2018, 09:39:34 AM
Banks attack the crypto currency because they see it as a competitor, which can simply displace them from this business!
And if this happens, the money (which we all know) will turn into ordinary pieces of paper and will begin to depreciate (with rublem it just happens)!
They are just  attacking bitcoin because they are just concern with the citizen of the country, and with their company, if a certain person finds it more profitable to invest in bitcoin so tendency is that they will going  to switch their investment with it.
Because first of all banking system and crypto currency is in contrast  with  its other because banking system is managed by few individual that  uses your money to their profits they giving assurance to their depositors small amount of interest and also small amount of insurance policies in case of bankruptcy. While bitcoin and the cryptocurrency currency no body control it except you and the technology.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: siti25 on April 22, 2018, 09:15:49 AM
because bitcoin began to threaten the banking system, because bitcoin has contributed greatly to the global technology world. Bitcoin attacks bank control because of the movements in the amount of money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: CryptoDyud on April 23, 2018, 01:06:36 PM
I would like to make it very short and simple. Bankers are the rulers of the world. They control almost everything in the world. So, everything is very centralised but BTC is a decentralised money and has no one to control it, they are afraid of BTC destroying their control being and manipulations being destroyed.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: JynlKi on April 23, 2018, 02:51:42 PM

Bitcoin has the potential to become the new currency, owned by the people, not subject to any control by the government or major banks. That is why both the government and the bank want to limit the potential of this currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reddolphin on April 25, 2018, 11:16:27 AM
If I were a bank, I would not want Bitcoin to develop.it is normal. because it disturbs me if it is a power other than control..


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MCVXYZ on April 25, 2018, 03:30:55 PM
Banks attack the crypto currency because they see it as a competitor, which can simply displace them from this business!
And if this happens, the money (which we all know) will turn into ordinary pieces of paper and will begin to depreciate (with rublem it just happens)!
They are just  attacking bitcoin because they are just concern with the citizen of the country, and with their company, if a certain person finds it more profitable to invest in bitcoin so tendency is that they will going  to switch their investment with it.
Because first of all banking system and crypto currency is in contrast  with  its other because banking system is managed by few individual that  uses your money to their profits they giving assurance to their depositors small amount of interest and also small amount of insurance policies in case of bankruptcy. While bitcoin and the cryptocurrency currency no body control it except you and the technology.

additionally,Governments regulate traditional banks in various ways,For example minimum reserve requirements or money management methods that banks can use, and what about exchanges, bitcoin exchanges(or holders/consumers) are not regulated as banks or another financial sectors are,so when we hold bitcoin its more comfortable,why? because of,for example 'proof of reserve'.despite the facts,there are another moments,that I have already mentioned in my previous post,In particular,Now banks are starting to use cryptocurrencies and especially bitcoin for their business purposes,They know how profitable it is,therefore they are creating their own exchanges and crypto wallets on consumers account,Which I think is not as 'cool as it seems.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Jpja on April 25, 2018, 06:30:25 PM
The main profit of banks is huge fees, including fees for transfers. In the blockchain system, these commissions are minimized. On the other hand, bitcoin is an excellent investment opportunity and banks also see it as a threat to their products, such as deposits.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jahn_quid on April 25, 2018, 06:56:04 PM
I'm sure banks are now trying to play catch up as well - it's pretty clear now that people are finding many banking fees just completely unreasonable.

The tipping point will probably come once banks figure out how to significantly profit without relying on the fees. Only then will they relent to the processing superiority of blockchain tech for banking.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Greenkarki on April 25, 2018, 08:11:23 PM
I'm sure banks are now trying to play catch up as well - it's pretty clear now that people are finding many banking fees just completely unreasonable.

The tipping point will probably come once banks figure out how to significantly profit without relying on the fees. Only then will they relent to the processing superiority of blockchain tech for banking.


The main reason behind banks attack bitcoin is local currencies loosing the currency market. All other reasons mentioned in OP would be part of it. Loosing the market is loosing the value. When the value is lost, the local currency will soon disappear. The banks and the authorities do not want this happen. This is the reason countries do ban bitcoin and crypto exchanges. This deny may keep their currency value at least stable instead of loosing much. I am sure this fight is going to be in place until crypto exist. 


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BUK2016 on April 25, 2018, 08:39:18 PM
You have mention so many reasons why banks attacks bitcoin and crypto currency in general but one the major reasons why banks attacks crypto currency is that bitcoin and crypto currency is will at the end take up their job and business if generally adopted by all the government of the world.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Snaic on April 26, 2018, 12:16:50 AM
Banks are now attacking bitcoin and generally crypto currency, because the crypto currency is a very serious competitor of banks. People have already had time to appreciate the advantages of the crypto currency and are increasingly turning to its use without resorting to banks. From this, banks suffer losses, they simply reduce their profits. Therefore, they are trying to defame the crypto currency so that as few people as possible turn to crypto currency. They send letters with a warning that investing in bitcoin contains a lot of risk, or they just pay for the emergence of various negative news about the crypto currency, sometimes even fictional, in the media or social networks. Banks will stop doing this when the states legalize the crypto currency, then the banks will have to adapt to the new situation and cooperate with the crypto currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: klarnetcijamie on April 26, 2018, 04:11:47 PM
because the banks are attacking on bitcoins because people loves bitcoins and in future bitcoins can make effect on business module of bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jahn_quid on April 26, 2018, 09:49:36 PM
I'm sure banks are now trying to play catch up as well - it's pretty clear now that people are finding many banking fees just completely unreasonable.

The tipping point will probably come once banks figure out how to significantly profit without relying on the fees. Only then will they relent to the processing superiority of blockchain tech for banking.


The main reason behind banks attack bitcoin is local currencies loosing the currency market. All other reasons mentioned in OP would be part of it. Loosing the market is loosing the value. When the value is lost, the local currency will soon disappear. The banks and the authorities do not want this happen. This is the reason countries do ban bitcoin and crypto exchanges. This deny may keep their currency value at least stable instead of loosing much. I am sure this fight is going to be in place until crypto exist. 

But banks aren't directly attacking crypto.

Sure, there is tension as crypto is a threat to bankings' main source of revenue. And there are public cases like Jamie Dimon of JP Morgran talking trash. But behind the scenes, all banks have been making moves into crypto - in trading or in technology.

It's clear that crypto is more than just a flash in the pan trend. And banks are filled with smart and opportunistic people. They definitely don' see this as a bank vs. crypto situation. You'll slowly start seeing centralization and institutionalizing creep into crypto for sure.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Kanvashardas on April 26, 2018, 11:47:40 PM
First they will atack, later they will join. It's all about money, fiat or crypto. They are protecting theirs.
On the long run crypto will win. The time is on the crypto side.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: sunsilk on April 27, 2018, 04:42:10 AM
The main profit of banks is huge fees, including fees for transfers.
It's one of their service when there are remittances that comes from offshore.

Not only it takes a lot of time before receiving the money but you'll also need to pay them with the service that you use although you have an account to them.

Creating your bitcoin wallet = free.

Creating your bank account = with fee.

Transferring bitcoin = free

Transferring money with bank = with fee.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ricebit7 on April 27, 2018, 05:31:02 PM
because bitcoin is a threat to all fiat currencies, that is why banks will forever dislike bitcoin, but i think if they're wise, instead of fighting bitcoin they should adopt it, after-all its the future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: whitecaramel1 on April 28, 2018, 01:12:56 PM
I think actually bank controls your money(fiat currency) But Bitcoin is decentralized and every person who hold is the only controller and beneficial so Banks are afraid of Bitcoin due to its total control by its community and total profit is also goes to holder.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Maxxbill on April 30, 2018, 09:37:40 AM
 Big Banks want to destroy Bitcoin before it destroys them. Bitcoin, the “people's currency,” has the potential to become a new currency, free of the control of big governments and big banks. That's why they both want to limit this potential. Each one in their own way.

The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy and business model of Banks.

 Bitcoin offers an alternative to the conventional, state-sanctioned banking system. ... looked Mt Gox was temporarily offline as a result of a denial-of-service attack that might have been the work of any number of possible suspects: cyber vandals; hackers hoping to sow uncertainty in the market to bring prices.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BennyK on April 30, 2018, 10:18:19 AM
The disagreement between the banks and bitcoin is due to the mode of operation of these two parties. Banks operate on a centralized mode whereas Bitcoin operates on a decentralized mode. The banks uses this centralization to own control of the financing of the people. The choose the percentage interest with which they claim after you take loan or do any transaction with them. They hold the power to pause or stop a transaction. Bitcoin does the otherwise, thereby taking the power back to the people.
The banks see this disruptive and attacks Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: 2bfree on April 30, 2018, 10:21:47 AM
My country hates crypto because they love to steal money from me and my citizens by printing fake money they call currency which is worth less and less each and every day.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Mehedi72 on April 30, 2018, 12:25:33 PM
Day by day we are getting news like
, this country reject bitcoin that country accept Bitcoin.
Technically it stands a contrast perspective with the Central Bank and the economy of the country
. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.


As a bitcoin lover,  also want that Every single country will accept BITCOIN as soon as possible.
 Really  nowadays  bank are attacking bitcoin due to afraid of their existance.
 Nowadays Bitcoin is getting so popular and profitable that
A large number of people  would like to keep investment in Bitcoin in lieu of bank.
Thus Bank lost their profit and take Bitcoin as their enemy.
This is the main reason for bank attacking Bitcoin


Title: Re: Why Banks are attacking Bitcoin ?
Post by: david_019 on April 30, 2018, 05:12:25 PM
Day by day we are getting news like
, this country reject bitcoin that country accept Bitcoin.
Technically it stands a contrast perspective with the Central Bank and the economy of the country
. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.


As a bitcoin lover,  also want that Every single country will accept BITCOIN as soon as possible.
 Really  nowadays  bank are attacking bitcoin due to afraid of their existance.
 Nowadays Bitcoin is getting so popular and profitable that
A large number of people  would like to keep investment in Bitcoin in lieu of bank.
Thus Bank lost their profit and take Bitcoin as their enemy.
This is the main reason for bank attacking Bitcoin
We all know that the life of bank is the investors that stores their money to it and the bank are using it to gain profit not for the owner of the money but for themselve and if you get reward from your money it seems like a waste of time because of low in return. While btc is offering the investors with no limit possible earning although it is too risky and for the investors who love to take the risk is always after Goethe profit and would love to choose to invest in btc than in a bank. And this I think is the reason of why btc in other countries is banned.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: cryptorocket84 on May 03, 2018, 11:26:42 AM
If we should tell ourselves the truth Banks are suppose to attack Bitcoin reason because they use our money for their personal business and they give us little or no interest at the end of the month; when you deposit money in the bank you only receive alert that a certain amount has been deposited in your account but u don't see the money, sometimes when u go to the bank to collect that same money they tell you that there is no money in the bank WHO IS WITH YOUR MONEY SINCE IT'S NOT IN THE BANK. Now Bitcoin is depriving them that privilege they have to use our money, Bitcoin will also render them jobless in no time, so they need to fight or attack Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: btcrising on May 03, 2018, 12:39:22 PM
Cryptos undermine the legitimacy of banks as money-savers and transaction-makers. They have to engage and stop to deny it, if they don't want to lose significant part of their depositors in nearest decade.

For example, banks of Switzerland or Japan are already there. No wonder, these are highly developed countries. Just wait for others to catch up


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Greenkarki on May 03, 2018, 09:27:59 PM
There is no other reason than the business. As crypto has almost conquered the crypto market and the local currencies are loosing its market, it has become a competitive move from each other and as banks rely on local currencies, they do block bitcoin and other cypto currencies from enlarging its value and other scales in the market. As every government is depend on the banks, government do hear to banks sayings. Though such issues continues, crypto keeps  developing itself in every nature and getting into the market adapting current gen.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: pareshnakar on May 04, 2018, 04:35:39 AM
The bitcoin is easily buy and sell so no income for bank and many people use bitcoin wallet so bank have no profit for that so banks are attacking bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: alex_gr_cc on May 04, 2018, 08:20:32 AM
There was an impression that banks do not like bitcoin. All this is connected with criticism and negative news from banks.
It's very simple - in a certain period of time it is advantageous for banks to lower the bitcoin rate to buy cheaper. This is normal trading or investing. No more.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jembaba1 on May 04, 2018, 12:09:26 PM
There are a lot of reasons for the bank's bitcoin attacks. The banks are not happy because their customers are not getting enough money


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Levente.Dubsta on May 04, 2018, 04:34:24 PM
Isn't it the new chapter in economical history? Some of the banks are scared, because they don't know what the hell cryptocurrency is


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tambok on May 04, 2018, 05:39:26 PM
Bitcoin captures the imagination of many people because bitcoin holds the promise to democratize finances. Bitcoin can operate entirely independently without government, regulatory or bank support, but it is still trusted by many people.

In other words, bitcoin is present to overcome the financial monopoly done by the bank. therefore, banks consider bitcoin as a system that can threaten the existence of the banking system.
They won't care with bitcoin or bother to attach with it if they don't felt threatened by it, and we all aware that a lot of people are hooked in bitcoin or in crypto and they are investing their money in it rather than in stock market as we are seeing good profit in cryptos rather than in stock where high investment but less returns.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Victorycoin on May 04, 2018, 06:35:26 PM
There are a lot of reasons for the bank's bitcoin attacks. The banks are not happy because their customers are not getting enough money

I guess you were going to say banks are not happy because their customers are becoming fewer and the deposits have shrunken compared to what was obtainable prior to the emergence of Bitcoin and knowing that banks make their money off of depositors monies and commissions, that goes to translate to fewer transactions and less profits for the banks. Bitcoin is a disruptive innovation and it's time has come, the best the banks can do is to embrace change or simply lose out to competition.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: MCVXYZ on May 04, 2018, 07:17:09 PM
Isn't it the new chapter in economical history? Some of the banks are scared, because they don't know what the hell cryptocurrency is

They don't know? I don't think so, where are you from? There are too many banks which have already started to use cryptocurrencies to achieve their business goals..As I said, in my country they have created crypto wallets and  get very well income from this,Which I think is break of the law.The fact that they are trying to integrate this processes means that they are afraid of it and trying to do more crypto related businesses and projects to attract more and more people.Despite the fact there are too many banks also which don't think that bitcoin will be successful for their  future,For example let's get binance and deutsch bank,binance's income is much more than the bank's.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Salesman4coinZ on May 04, 2018, 07:22:38 PM
The thing is, when cryptocurrencies and specially bitcoin came up back then, the banks are just laughing about and they could never imagine that a cryptocurrency could be every that much worthy. So now they see what happen in the last months, and now they see bitcoin is a real danger for fiat money. And the biggest problems is, that they can not controll cryptocurrencies. So when they cant controll the money, they will lose a lot of power. Thats why they are now against bitcoins!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ecnesa101 on May 06, 2018, 09:31:19 AM
Because they afraid of bitcoin because they much stronger some people choose bitcoin for an investment it might double or big BOOM I mean more money instead you invest in the bank  you'll giving you 1% of your investment . I don't think so this is correct this my own opinion. .


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reality18 on May 06, 2018, 11:48:25 AM
The main profit of banks is huge fees, including fees for transfers. In the blockchain system, these commissions are minimized. On the other hand, bitcoin is an excellent investment opportunity and banks also see it as a threat to their products, such as deposits.
Exactly as my point, the banks receive huge amount of interests on loans taken from them. The always stand in the middle position interfering with transactions between entities involved. The Blockchain serves as a disruption to this old fashioned trend and offers owner control without any third party involvement. This power which is taken from the banks and given back to the people is what scares the banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: mnyers1 on May 06, 2018, 10:25:35 PM
It's a business marketing. As fiat being the competitor of crypto currencies, it aims to conquer the currency market. Fiat has loosen it's value  compared to crypto currencies especially to bitcoin. As banks are being the backbone of a country, the authority makes rules forbidding bitcoin into its country.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: NavishaKhairin on May 07, 2018, 03:38:50 PM
because the government has fears that Bitcoin creates the risk of financial system stability in the event of a bubble burst, because there is an interaction between the virtual currency and the rii economy. There is a risk of high price volatility because its value is determined on the expectation of future supply and demand, speculative,


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Luminous-Nova on May 07, 2018, 08:01:14 PM
its simple because their power is getting less day by day ...


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Pattart on May 08, 2018, 12:58:38 AM
There are a lot of reasons for the bank's bitcoin attacks. The banks are not happy because their customers are not getting enough money

I guess you were going to say banks are not happy because their customers are becoming fewer and the deposits have shrunken compared to what was obtainable prior to the emergence of Bitcoin and knowing that banks make their money off of depositors monies and commissions, that goes to translate to fewer transactions and less profits for the banks. Bitcoin is a disruptive innovation and it's time has come, the best the banks can do is to embrace change or simply lose out to competition.
I don't think banks will lose competitiveness with bitcoin? let alone we still use fiat as the main currency right? of course banks will be needed. but what does the bank see is from the threat? yeah bitcoin threats are hard for centralized financial systems like banks? although today people prefer banks. but the likelihood that people will prefer decentralization will remains there


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Ivandvanko on May 08, 2018, 01:39:15 AM
it's very simple ... a hundred years the banks control all the money and their relocation, and now they have a very serious competitor.  therefore bitcoin is not given complete freedom.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: cryptowick on May 08, 2018, 08:11:34 AM
so does it means bitcoin and all other crypto will be banks enemy ?
if like that does it means it a risk investing in it ?


Title: Re: Why Banks are attacking Bitcoin ?
Post by: shanksluffy on May 11, 2018, 02:52:32 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D
Many bank hates bitcoin because this is treat to their system especially to their customer because other customers chose bitcoin over the paper currency to buy their need and wants.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: auliasilvana on May 11, 2018, 09:11:24 AM
Banks attack Bitcoin because the Bank does not want Bitcoin to continue to exist in all of us. The bank wants Bitcoin to die and wants everyone to rely solely on the Bank. But I'm sure as hateful as any Bank on Bitcoin, Bitcoin users will definitely continue to maintain their Bitcoin and not be affected by bad news about Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: kashkarev55@mail.r on May 11, 2018, 09:27:32 AM
There are several factors. 1. Direct competitor in the field of transactions without the participation of the Supervisory authority (Bank). 2.there is no access to the collection of commissions from transactions. 3.regulation is not the state, and the parties to the transaction.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: labhsikh123 on May 11, 2018, 09:32:23 AM
It will be most popular currency in the world. All countries will be accepting fast because it supply and demand chain very strong.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: KrishaBitcoin on May 11, 2018, 09:44:08 AM
Banks have different approach when it comes to cryptocurrencies but most of them doesn't like bitcoin as they were kept saying that bitcoin is somewhat a ponzi scheme and can manipulate the price by those big waves, but some country/central banks sees this as an opportunity to lessen the transactions in bank each day.

I agree with you that banks have different stand against Bitcoin existence in which not all Central banks are against Bitcoin like here in our country that our major banks are in partnership with our local exchanges in which if we convert our Bitcoin to fiat we can use the banks withdrawal facilities so that we could take our cash out. So i think the main reason of why some banks are against Bitcoin existence because their profit will going to reduce in which a selfish act.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: labhsikh123 on May 12, 2018, 09:53:10 AM
Bitcoin currency is very popular and one most powerful currency in the world. In future, it will be taking the place of bank sector, that is why bank is attacking on bitcoin crypto currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Gauravsaini29 on May 12, 2018, 01:31:56 PM
bcoz if bitcoin or any cryptocurrency will be fully implemented so anyone easily transfer money worldwide without any charges.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: artemzo on May 12, 2018, 01:39:01 PM
 :)



Title: Re: Why Banks are attacking Bitcoin ?
Post by: maarx on May 12, 2018, 04:09:44 PM
Its just a complete business competition between crypto currencies and local fiats. As banks want fiats values to be up banks do forbid crypto currency to enter into any country. Thus banks approach the concern authority of the respected country to ban or avoid using crypto currency in the country. There are en number of benefits gained out of crypto currency then local currencies. Hence investors turn towards crypto rather than local fiats in the currency market. These are few reasons for banks banning using bitcoin via authorities.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: dongosquad on May 12, 2018, 05:17:18 PM
Its just a complete business competition between crypto currencies and local fiats. As banks want fiats values to be up banks do forbid crypto currency to enter into any country. Thus banks approach the concern authority of the respected country to ban or avoid using crypto currency in the country. There are en number of benefits gained out of crypto currency then local currencies. Hence investors turn towards crypto rather than local fiats in the currency market. These are few reasons for banks banning using bitcoin via authorities.
you are right, but actually, the background difference of both does not necessarily cause it to drop each other. When viewed in terms of functionality, both provide the convenience that can be utilized by users in accordance with the needs. Blending them together is the right choice to make life easier.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: pheonyx on May 12, 2018, 09:04:35 PM
Banking is business and bitcoin and all crypto currency is gaining influence on the society and people who knows it turn their interest to crypto from bank because cryptocurrency can gives them money more than the bank can give with only less than 5 percent a year.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Rajamuda on May 13, 2018, 05:30:05 AM
Banking is business and bitcoin and all crypto currency is gaining influence on the society and people who knows it turn their interest to crypto from bank because cryptocurrency can gives them money more than the bank can give with only less than 5 percent a year.
Not only related on business, of course.. crypto can really compete and the system that has been applied to the financial system in general.. it's contrary to the characteristics of cryptocurrency. Essentially raises fears that crypto can be prioritized by many people while this is not real.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Soots on May 13, 2018, 02:07:55 PM
Banking is business and bitcoin and all crypto currency is gaining influence on the society and people who knows it turn their interest to crypto from bank because cryptocurrency can gives them money more than the bank can give with only less than 5 percent a year.
Not only related on business, of course.. crypto can really compete and the system that has been applied to the financial system in general.. it's contrary to the characteristics of cryptocurrency. Essentially raises fears that crypto can be prioritized by many people while this is not real.

I agree, not all relying on business but somehow most of it involves on business since banks and and any financial related most of then are in business. Well, as the competition of crypto currency as well as the banks may occur some problems regarding on their different profit as it was divided due to the crypto currency here in our society. Base on my own perception, the banks are competitive enough which I think they are aware on these crypto currencies here in cyberworld as I observed most of banks accept crypto currencies which I try to withdraw my share of bitcoin to fiat as it have bemn automatically converted which including transaction fee. Thus, banks still.survived as they must support the crypto currency throughout the cyberworld.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: baundul on May 13, 2018, 10:06:29 PM
The bank was founded on interest. Bitcoin is a system without interest. If the transaction is done, then the bank gets a small amount of money. If you keep a deposit in the bank, they make a profit on the tax, VAT, Fee. Because the bitcoin is deprived of it, the bank has always been bite.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BennyK on May 14, 2018, 01:53:58 AM
Bitcoin and the banks are like the opponent teams in a match with each eager to win at the end of the day. Both operate on a different principle which opposes or disrupts the other. With Bitcoin, the people get to be the master of their own finances without any authoritative third party to control and decide when to transact and how to do it. With this, the power is giving back to the people and the banks see this as a major disruptive move to their operations.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: juannanjo on May 14, 2018, 04:39:51 AM

It is always better to have a protected capital that gains value, to have it in a bank devalued or losing purchasing power, that's why in my view things these initiatives as exchanges or various wallets that are available must always innovate and Constantly promote their services for both customers and potential users,


Title: Re: Why Banks are attacking Bitcoin ?
Post by: juannanjo on May 14, 2018, 05:08:14 AM

It is always better to have a protected capital that gains value, to have it in a bank devalued or losing purchasing power, that's why in my view things these initiatives as exchanges or various wallets that are available must always innovate and Constantly promote their services for both customers and potential users,


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Eleven86 on May 15, 2018, 05:49:48 AM
Because banks are afraid of cryptocurrencies growth, if crypto enters it will dominate the local fiats. It's just a competition between banks and crypto. Crypto value is more when compared to local fiats. People using only crypto they forget to use local fiats. Investors are turned to invest only on crypto not on banks. There is no tax problem for bitcoin this is also the main reason banks not accepting bitcoin. No one deposit the amount in the bank, people stored their bitcoins in their wallets and used it once the value reached high they sell their coins and earn more profits.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Magic Sarap on May 16, 2018, 05:35:55 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D
Because banks are afraid to defeat them, they are afraid to spread this to worldwide because they're know that people might choose it to use than them yet it has no tax problem.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tambok on May 17, 2018, 06:23:50 PM

Because banks are afraid to defeat them, they are afraid to spread this to worldwide because they're know that people might choose it to use than them yet it has no tax problem.
At some point I understand their situation of course it would be hard for them to see how economic grows if we will have lack of cash circulating in the market, our government will find it hard as well to see if our economy is growing and if there is fluctuation/inflation happening.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: arcanayou on May 18, 2018, 03:19:39 AM
actually the bank may not attack bitcoin, they just do not understand and know about bitcoin and blockchain system applied bitcoin. everything has changed, including the current bank system and payment system, throughout the history of the world all being changed for the better, the banks must be able to adjust to the current state of affairs, not only fixated on the ancient system they currently use


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hannahanto on May 18, 2018, 11:03:28 AM
Bitcoin is the competitor to local fiats. When you invest in banks the interest should be low and you have to wait for long time to see the profit. But that profit is also not high, but if you invest in bitcoin you could see the profit in short term itself. The profit is also very high when compared to lacal fiat's banks interest. Another main reason is tax problem for bitcoin money we no need to pay tax this is not applicable  in banks transaction. People use bitcoin only for their transactions when it is accepted by banks. The local currency has no value and it will disappear in future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Edsemen on May 18, 2018, 12:05:35 PM
Bitcoin is the competitor to local fiats. When you invest in banks the interest should be low and you have to wait for long time to see the profit. But that profit is also not high, but if you invest in bitcoin you could see the profit in short term itself. The profit is also very high when compared to lacal fiat's banks interest. Another main reason is tax problem for bitcoin money we no need to pay tax this is not applicable  in banks transaction. People use bitcoin only for their transactions when it is accepted by banks. The local currency has no value and it will disappear in future.

Indeed, all ideas were in exact phase of how banks really been intimidated with cryptocurrency bitcoin or so called digital currency. In general understanding the banks was threatened by bitcoin's economy, so they're trying to pull down the reputation of bitcoin because of those reasons behind their frustrations to get more investors who diverted their funds to bitcoin investments. Now as a bitcoiner who has huge amount of investments, would you believe that they're responsible for the spreading FUD and fake news? Well, then the possibility is certain due to rivalry between fiat economy and cryptocurrency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Anees1122 on May 19, 2018, 09:18:37 PM
Bitcoin offers an alternative to the conventional, state-sanctioned banking system. Maybe that's why powerful institutions are so wary of it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jahn_quid on May 20, 2018, 08:19:44 AM
I'm very curious as to why people here think banks hate crypto?

If anything, it's more clear that they're interested in and trying to find a place in this space today (there definitely will be a place as they have so many resources and as regulation grows they'll have more lobbying power to change things in their favors).

I'm not in support of banks, for sure there are some bad practices that need to be changed which blockchain and crypto bring. However, there's definitely a feeling on the boards here that banks want to kill crypto. And it's clear that that's simply not true (Goldman opening up a crypto desk, JP Morgan setting up an entire blockchain division, financial services firms like the Big 4 all opening ICO practices, etc.).

The road is being setup to institutionalize crypto. Accordingly, it's more that the banks will try to own as much crypto as possible (as long as it's worth something)!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: FUD Expert on May 20, 2018, 12:44:08 PM
Because a lot of big names and big companies in different institution are engaging on the cryptocurrency revolution. If devs made a successful wallets that are impossible to hack, bankers are going to beg crypto users to let them work for them so they'll have food to eat.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: YED on May 20, 2018, 08:58:56 PM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.



Title: Re: Why Banks are attacking Bitcoin ?
Post by: qwerty12 on May 20, 2018, 11:21:13 PM
Bitcoin captures the imagination of many people because bitcoin holds the promise to democratize finances. Bitcoin can operate entirely independently without government, regulatory or bank support, but it is still trusted by many people.

In other words, bitcoin is present to overcome the financial monopoly done by the bank. therefore, banks consider bitcoin as a system that can threaten the existence of the banking system.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: bit_lover on May 21, 2018, 08:14:25 PM
Nobody likes to lose profits. Naturally, banks will be against if the currency will come out of their control i think.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: TianaStam on May 21, 2018, 08:48:22 PM
One day banks will learn to cooperate with crypto currencies, there is no other wally to them besides to become friends to their enemies. Banks are loosing clients because of crypto, but they have no power to forbid people to use crypto, so there is nothing more to them besides to add crypto in to their exchanging lists and the  next step is going to be crypto  storage.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: muneeb.zain on May 22, 2018, 04:16:46 AM
Banks are attacking the btc as there profit ratio is going down.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: inthelongrun on May 22, 2018, 04:45:58 AM
These banks are always dictating the world especially on the financially side which influenced nearly every events and actions. These banks are the ones holding and controlling governments. So these banks wanted everything new to be controllable and something that they can also benefit.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jahn_quid on May 22, 2018, 08:00:25 AM
I mean the only thing with significance I have seen lately is some banks have banned cryptocurrency purchases on their customer's credit card, and for me that is understandable. Their customers buying a risky asset on a credit will mean bad business for them. So I totally understand why they want to be on the safe side of business, even that kind of move made by a bank does not show a direct attack to Bitcoin.

Finally, another reasonable response!  :D

Again, this isn't a support of big banks - they obviously have had and engage in questionable practices that aren't in the best interest of consumers. I think it's just better that we all take honest appraisals of the situations.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: SectorZero on May 22, 2018, 11:30:06 AM
I mean the only thing with significance I have seen lately is some banks have banned cryptocurrency purchases on their customer's credit card, and for me that is understandable. Their customers buying a risky asset on a credit will mean bad business for them. So I totally understand why they want to be on the safe side of business, even that kind of move made by a bank does not show a direct attack to Bitcoin.

YES banks forbid purchase of cryptocurrency on their proceeds of credit. But there is a real situation when at the person of the bankrupt arrest accounts, apartments, cars and cryptocurrency. Cryptocurrency is considered by bank risky, but the court quietly takes away cryptocurrency for debts and doesn't consider her risky. There are many questions to bank at once. ??? ???


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Farahtenan on May 23, 2018, 07:35:12 AM
I agree with the article you created. The main reason banks attack Bitcoin is because people use more Bitcoin. Surely this will make the bank suffered huge losses. The more people who believe and use Bitcoin means more and more people who do not use the Bank anymore. And banks will not benefit from the people around him.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: lycipher on May 23, 2018, 04:42:09 PM
I wouldn't say all banks hate it. Some banks like it a lot.
But I think the main reason why most banks don't like Bitcoin much is that they can't make money of it because of legal or technical reasons.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reda on May 23, 2018, 05:42:40 PM
I wouldn't say all banks hate it. Some banks like it a lot.
But I think the main reason why most banks don't like Bitcoin much is that they can't make money of it because of legal or technical reasons.


The main reason is loss the profits. people not use the bank transactions. Bank will be go down and bank not get profit. Bank is affect the all country people saving and future growth. So people wait for the new transaction process. Bitcoin is good transaction process. So it change the people life and people get more profit. It change the life style. Bitcoin is never affect the people growth and saving. But banking process is not give the rule and regulating for the banking process. But bitcoin will be give all information and it easy way to use. It easy to transaction but banking will be get the transaction charges from the banking account. But bitcoin will not get charges for any transaction. It good future growth. So hold the bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Blondy12 on May 23, 2018, 06:36:42 PM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

All the listed reasons are enough for the banks to be alarmed about bitcoin because it is absolutely true. Can we imagine how scared they are that one day they will wake up without investors left? Ofcourse will choose to have their savings in their own wallet and not being controlled by anyone else but itself only. Keeping our investment on our own and just waiting for the huge profits to come compared to the banks that only gives a little bit of interest whatever how big amount we deposited from them.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Victorycoin on May 24, 2018, 02:56:50 PM
It's a business marketing. As fiat being the competitor of crypto currencies, it aims to conquer the currency market. Fiat has loosen it's value  compared to crypto currencies especially to bitcoin. As banks are being the backbone of a country, the authority makes rules forbidding bitcoin into its country.

I guess you were meaning to say that the commercial banks par se are really not the ones afraid and attacking Bitcoin, because they're after all business ventures very much interested in ways to maximize profit. Their hands however are tied by their masters - authorities, who are might be tempted to clamp on their license for none compliance. That makes the authorities, as represented by central banks, the banks attacking Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reda on May 24, 2018, 07:04:17 PM
It's a business marketing. As fiat being the competitor of crypto currencies, it aims to conquer the currency market. Fiat has loosen it's value  compared to crypto currencies especially to bitcoin. As banks are being the backbone of a country, the authority makes rules forbidding bitcoin into its country.

I guess you were meaning to say that the commercial banks par se are really not the ones afraid and attacking Bitcoin, because they're after all business ventures very much interested in ways to maximize profit. Their hands however are tied by their masters - authorities, who are might be tempted to clamp on their license for none compliance. That makes the authorities, as represented by central banks, the banks attacking Bitcoin.

Bitcoin is wonderful one. No one can replace the bitcoin price. Now bitcoin is reach the all country. So bitcoin is help to people growth. Bitcoin is support the people life growth. Bitcoin help to people future saving people any time to use and any where to use. No rules and regulation.
 But bank not for people growth. It affect the people future saving. Now most of the people wait for the bitcoin. If accept the country legal way. Most of the people use the bitcoin. Bank will go down. Bank is not give the more information of the banking rules and regulation. Bitcoin is give more information.  Now bank is fear.  So attacking Bitcoin


Title: Re: Why Banks are attacking Bitcoin ?
Post by: alon_alon on May 25, 2018, 02:26:33 AM
In essence, the Bank is very attacking Bitcoin because it feels that Bitcoin bring bad impact to the development of the bank. Yes, the bank felt the loss since the presence of Bitcoin because the bank so not get more benefits from the community. Naturally, many banks hate Bitcoin. I also always pray the best for Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: acheampong64 on May 25, 2018, 09:17:22 AM
I really love what you said that people love Bitcoin. In fact majority of us love BTC so much and the banks should note that they cannot take that way from us. Also, i think what the banks should do is to accept integrating Bitcoin and other cryptos into their system (well, perhaps the governments won't allow them)


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Lindell on May 25, 2018, 10:39:44 PM
As a competitor, you are annoyed because your business is greatly affected and you cannot do anything to solve your defeat but rather attacking bitcoin. But any attack on bitcoin, people are still supporting it.  They dont care despite the fact that some banks warned bank account holders to close accounts that are related to bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Choy13 on May 26, 2018, 03:38:43 PM
Because cryptocurrency has its own bank which is called hard wallet. Hard wallet is well known to secure the bitcoin and preventing the bitcoin to leak. They want to ban the cryptocurrency that's whw they attacking bitcoin. They see it as a competitor in the world of business.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: btc-facebook on May 26, 2018, 04:55:06 PM
IMO they are different things and can't be compare.

Why ?
Bank is a place so safe fiat , bitcoin is digital money !

Bank accept bitcoin ? It's impossible because every country have their own policy about how to consider their currency into legal fiat !


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BennyK on May 26, 2018, 05:52:21 PM
Bitcoin, the “ people's currency,” has the potential to become a new currency, free of the control of big governments and big banks. Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would used it the more their business go down.
But for now, banks are getting stable and it seems that they are making a consideration to having a cryptocurrency, they know that no matter what negative news they will gonna spread, no matter how much they will tell people that it is risky they will never stop people to have it.
Cryptocurrency will win at the end of the day irrespective of the tainted images of Bitcoin coming from the banks. It's high time the Banks started working with cryptocurrencies like the Bitcoin to widen their scope of services they provide for the people. Cryptocurrency cannot be stopped by the banks nor the government but by the people and here is the case, cryptocurrency works perfectly in favour of the people due to its decentralized nature.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: LegendzX on May 27, 2018, 10:40:44 AM
Haha. Bitcoin are really making itself as an eyesore to the bank and I am pretty sure that many banks are completely complaining to their government to do something against this decentralized bitcoin because it is harvesting the investors of banks around the world. I can't imagine the far success of bitcoin over this centralized system, the power of influential system has nothing to do with this decentralized platform. Good job btc.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Levious on May 27, 2018, 04:20:26 PM
Because bitcoin threatened the absolute control of the bank’s funds, in the early days of banking, some countries had created early cash (precious metals) deposits. The government at that time was also strongly opposed to these early similar banks, but Now banks have become common institutions recognized worldwide.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jerix on May 28, 2018, 02:59:35 AM
I also really like Bitcoin and I always pray the best for the development of Bitcoin in the future. I am sure that one day all the countries of the world will legalize Bitcoin and accept Bitcoin completely. Yes, it seems very unlikely but I believe in any crypto can happen. Banks attacked Bitcoin because the bank feels a big loss since the presence of Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: vessing on May 29, 2018, 10:49:26 AM
There is a billion-dollar outflow of capital from banks and stock markets to the crypto currency. This is very hitting the banking system of the world's largest banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ts sms on May 29, 2018, 10:50:39 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D
Large banks are against Bitcoin. Bitcoin wants to destroy Bitcoin before destroying these banks. Bitcoin is a free currency. Bitcoin is outside the control of the government and banking system of the country. On the other hand, Bitcoin's popularity is much higher. I think it is harmful for the banking system. That's why I think that big banks want to destroy Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Louise0910 on May 29, 2018, 11:38:06 AM
why banks are attacking bitcoin? some like  fiat versus bitcoin banks dont like bitcoin because they are not familiar with the nature of cryptocurrency and its volatility. Another thing is that unbanked people found theirselves to invest in bitcoin,because of its anonimity, fast transaction.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Woolles890 on May 31, 2018, 07:57:22 AM
Most banks attack Bitcoin because the bank feels that Bitcoin is taking advantage that the bank should accept. Yes, for example, many people prefer to switch to Bitcoin instead of using a bank. Surely this will greatly affect the development of banks getting worse. But I hope that one day the bank can fully accept Bitcoin. Then between banks and crypto can work together. It will be better.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Rooster101 on June 01, 2018, 06:27:46 AM
Not all banks are against bitcoin, few of them even support it. It is also depend on what country you are residing. Bitcoin-friendly banks can be found mostly in many wealthy nations like Japan and Germany. Many banks in Third world countries are against the use of cryptocurrencies or their central bank did not approve it. One reason why some banks did not accept funds from bitcoin because it might come from illegal source like scams and money laundering.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Blondy12 on June 01, 2018, 11:12:11 AM
The main reason that banks are  always attacking Bitcoin or digital currencies is the financial losses and the decrease of Fiat value. Furthermore, They are afraid of the continued existence of  Bitcoin at the summit of the digital currencies, so they invested a huge value in other currencies in order to  affect negatively the  value of Bitcoin.

Yes you are right mate. But one main reason why banks are attacking bitcoin is because bitcoin is decentralised and controlled by the holders itself. So, good investors may have a change of hearts, withdraw their savings in the banks and invest it in bitcoin. If that will happen then for sure that it will cause bank bankruptcy therefore banks are threatened of the existence of bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Hannahanto on June 01, 2018, 08:02:44 PM
Because banks are afraid that when bitcoin enters it will.dominate the local fiat. Automatically the value of local fiat decreases. Bitcoin can be controlled by its users only. But in local fiat it is controlled by the government only. For bitcoin there is no tax problem so it cannot be controlled by the government. People are not ready to use local fiat and they invest only on bitcón. Because bitcoin gives more profit than local fiat.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: keyangor on June 02, 2018, 03:21:54 AM
Because the banks are afraid to be replaced by crptocurrecy


Title: Re: Why Banks are attacking Bitcoin ?
Post by: barabarian1 on June 02, 2018, 03:43:28 AM
because banks are afraid of losing customers' savings or their customers are reduced in terms of investment. because bitcoin offers a better system than banking. while banks can not guarantee security such as bitcoin in terms of investment and transactions.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: lycipher on June 02, 2018, 08:48:41 AM
Haha. Bitcoin are really making itself as an eyesore to the bank and I am pretty sure that many banks are completely complaining to their government to do something against this decentralized bitcoin because it is harvesting the investors of banks around the world. I can't imagine the far success of bitcoin over this centralized system, the power of influential system has nothing to do with this decentralized platform. Good job btc.
Seems like governments are concerned about crypto without pushing their backs by banks.
Governments care about taxes. And crypto make taxes collection and control more traverse.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: lycipher on June 02, 2018, 08:51:36 AM
I also really like Bitcoin and I always pray the best for the development of Bitcoin in the future. I am sure that one day all the countries of the world will legalize Bitcoin and accept Bitcoin completely. Yes, it seems very unlikely but I believe in any crypto can happen. Banks attacked Bitcoin because the bank feels a big loss since the presence of Bitcoin.

For some reason I think Bitcoin is a little bit more than payment tech.
I guess it is really a device for major structural change in how governments and countries are operating now. Therefore if governments want to stay almost the same without starting a large scale opposition to Bitcoin, then they need to adapt and do it ASAP.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: fbtdarkhorse on June 02, 2018, 07:56:35 PM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.


Some people stopped using bank transfers. Because of this, banks lose part of the profits on commissions, transactions.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Taki on June 02, 2018, 08:44:43 PM
Yes, banks are simply loosing clients, cause of now people have higher profit from cold storage in crypto currencies, online exchangers suggest much better prices and lower fees, with organization of ICOs companies do not need take loans in banks to succeed. There are many other little things which make to bank big competition, that's why banks are warning people from crypto currencies use and so on.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: entrepmind23 on June 03, 2018, 12:43:10 PM
Yes, banks are simply loosing clients, cause of now people have higher profit from cold storage in crypto currencies, online exchangers suggest much better prices and lower fees, with organization of ICOs companies do not need take loans in banks to succeed. There are many other little things which make to bank big competition, that's why banks are warning people from crypto currencies use and so on.

Their funds are reduced because of cryptocurrency that's why they treat it as a competitor. They see that some people are getting interested into it that's why when they track that someone is earning from cryptocurrency or simply depositing to some exchange, they would suspend the account of that person. Sooner or later, when more people started to adapt cryptocurrency, it would just come back to them because people would opt to keep their own money so they would continue to lose more customers and maybe even go bankrupt if they will continue what they are doing.

Yes, banks are simply loosing clients, cause of now people have higher profit from cold storage in crypto currencies, online exchangers suggest much better prices and lower fees, with organization of ICOs companies do not need take loans in banks to succeed. There are many other little things which make to bank big competition, that's why banks are warning people from crypto currencies use and so on.

Cryptocurrencies give us a cost-saving transactions and faster too that's why banks do not want people to get involved with it. Those who are just willing to take the risk may benefit in the future.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Mukarram Tariq on June 03, 2018, 05:12:34 PM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: aso118 on June 04, 2018, 07:05:56 AM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.


Big banks may be under threat for a portion of the entire financial services pie, but they still have enough revenue streams to stay afloat. For example, they make money from advisory services, including mergers and acquisitions. I don’t see Bitcoin replacing that.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Claudyah on June 04, 2018, 12:43:24 PM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.


Big banks may be under threat for a portion of the entire financial services pie, but they still have enough revenue streams to stay afloat. For example, they make money from advisory services, including mergers and acquisitions. I don’t see Bitcoin replacing that.
we all know that crypto is almost entering all regions of the country in the world and that means the fate of banks will be questioned because when everyone is using crypto then the bank is no longer needed because everything has been disimpat on his wallet on the internet then the bank attacked bitcoin much.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: malamjumat8 on June 06, 2018, 01:04:23 AM
In my opinion, why banks attack bitcoin? because with the circulation of bitcoin will make the bank into a pluctuation.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Mariyas sri nirmal jayama on June 06, 2018, 08:50:02 AM
Huge Banks need to decimate Bitcoin before it obliterates them....Bitcoin, the "general population's money," can possibly turn into another cash, free of the control of huge governments and enormous banks.  :-\


Title: Re: Why Banks are attacking Bitcoin ?
Post by: kyteguyvn on June 07, 2018, 04:51:14 PM
Banks attack bitcoin because if the bitcoin become as currency the central bank and government will lose the control with they local currency. So many government not support the crypto currency, they just support bitcoin as asset for investment.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: SAYDAKHMETOV on June 07, 2018, 06:19:05 PM
The payment for bitcoin takes place in the system of blockade. At the same time, all payments go past the banking system. And this directly affects the income of the bank)))


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Polkadott on June 22, 2018, 06:55:27 AM
I think a good investor might have a change of heart, withdraw their savings at the bank and invest it in bitcoin. If it will happen then it will certainly lead to bankruptcy of the bank because the bank is threatened the existence of bitcoin. And one major reason why banks attack bitcoin is because bitcoins are decentralized and controlled by their own holders


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Aleh777 on June 22, 2018, 10:53:02 PM
The main reason behind banks attack bitcoin is business and competition between local fiats and crypto currencies. Bitcoin has shown its massive growth by capturing the currency market. Thus the value of fiats have come down. So banks are in lose, so the only things banks can do is, approach the government to ban bitcoin or any other crypto currencies. This competition will continue as long fiats and crypto currencies exit.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: HaywhyJ on June 22, 2018, 11:25:17 PM
I will even like it if the question can be put like this why most countries government re attacking and rejecting cryptocurrencies, the short answer is "decentralization" nobody to monitor anybody wealth be cause it is personal nobody can make use of your fund without your consent and many more.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: nickwen on June 23, 2018, 07:25:02 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!
I agree with your opinion. Banks are no longer earning a lot of money since the blockchain and cryptocurrency technologies were created. So they will always protest and attack Bitcoin at any time


Title: Re: Why Banks are attacking Bitcoin ?
Post by: spiker777 on June 23, 2018, 07:40:36 PM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

I agree. Banks and governments hold the same position and that's to oppose cryptocurrency exchanges because these are steering their monopoly and control of people away from them so they'd so anything they can to stop that sleeping from them.

However, I wouldn't necessary say that they're trying to completely destroy Bitcoin and cryptocurrencies, more like they are trying to integrate with the technology, so it never becomes an US or THEM scenario, but more like a WE scenario where banks benefit from the advances of blockchain tech, without necessarily needing to compete head to head.

A lot of banks are starting to look at the benefits of hyper ledger in their platform, so I think it's just a matter of time before one takes a big leap.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: chadrs on June 23, 2018, 08:42:49 PM
Because they think that bitcoin will surpass them in near future.. They think that there are possibilities that humans will invest in bitcoin rather than putting the people's income to bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Firefox07 on June 25, 2018, 11:22:25 PM
I think banks are attacking bitcoin because bitcoin put a big threat on them. They don't want any competition between them and bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Girlsbit on June 26, 2018, 01:48:00 PM
Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

I totally agree with you.  Large banks want to cover the crypto-currency market so that they have clients left.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: USDOLLAR on June 26, 2018, 02:34:52 PM
Finance is back bone of every country when the new technic comes in the market people shows interest in that,banks are worry because if in future finance shift their road to crypto currency then banks suffer for achieve profits after maintain their his expenditures.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: satana_igor666 on June 26, 2018, 04:05:01 PM
It is not profitable for large banks that cash flows go past them.  They want to make a profit on everything.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Andrew S on June 26, 2018, 04:47:55 PM
Because the crypto currency market is a direct competitor to the banking sector.  This is not a bit of their sphere of influence, so they do not want bitcoin development.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: yndye on June 27, 2018, 04:13:34 AM
It is not profitable for large banks that cash flows go past them.  They want to make a profit on everything.

Banks were able to get money from people and use it to their advantage but having cryptocurrencies as additional competitor now is a pain for them. Many people are shifting their attention from saving their money in banks to investing in cryptocurrencies that's why some of them wanted to destroy the reputation of bitcoin so that others would be discouraged to invest on it but the more they discouraged it, the more people would like to invest in crypto because they can see the flaw of banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: seopro1001 on June 27, 2018, 04:53:00 AM
As my opinion, the most important reason that the banks are attacking Bitcoin is the proffit. They will lose profit with the development of bitcoin. When there are bitcoin, people can also trade directly (peer to peer) together without going through the bank. This makes banks nervous. However, banks are now adopting bitcoin and other cryptocurrencies.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: enhu on June 27, 2018, 08:00:29 AM

Anything that isn't their control are opposed. They all can manage to buy all bitcoins, that isn't going to be a problem to them. But then there are other cryptocurrencies coming out almost every day and crypto works differently which is why anyone can bank their wealth on a wallet they own which makes them irrelevant in a way. Crypto has the higher chance of winning against them than the petro dollar of the middle east that is why they are attacking.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Baanx.com on June 27, 2018, 08:26:00 AM
It's an easy one.. the banking establishment despises any form of decentralisation...blockchain technology offers unlimited decentralisation.
That's why Baanx.com was founded...to allow pro-blockchain banking with user-cases in mind.
Have a look at: https://www.youtube.com/watch?v=ztruT7PDPQw
It kind of sums up where the organisation is to date... and why you should understand NOT ALL BANKS are attacking Bitcoin  ;)


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Dang Trinh on June 27, 2018, 01:58:36 PM
It also has an advantage of being a currency that any bank can not beat. So, most economists don't like Bitcoin both as a payment solution and as a currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Tylev on June 30, 2018, 06:29:01 PM
Banks do not like the decentralized crypto currency. This is due to the fact that many people switch to using crypto currency and therefore no longer go to banks or are treated much less. Therefore, banks because of the crypto currency lose their potential customers, and with them their profits. Therefore, bankers are very unhappy with the appearance of the crypto currency and at every opportunity try to show the riskiness of investments in crypto currency and recommend not to use it in their activities. This will happen until states legalize the crypto currency and determine its status and conditions for circulation. After this, banks will be forced to cooperate with it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Oliveir on June 30, 2018, 07:02:34 PM
Actually they are not attacking Bitcoin, they were just not sure about how to make regulation directly to block chain, but as  of today they are now open to this kind of issues and topic because many bank user are now involving to crypto with their money instead of investing on bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: digroske on July 04, 2018, 11:23:29 AM
There was an impression that banks do not like bitcoin. All this is connected with criticism and negative news from banks.
It's very simple - in a certain period of time it is advantageous for banks to lower the bitcoin rate to buy cheaper. This is normal trading or investing. No more.
Bitcoin threatens the stability of the existing scheme of banks. And also contributes to the outflow of customers for banks. all this, naturally does not like the banking system.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: hacekd on July 04, 2018, 01:05:55 PM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!

Agree! We all must take a piece of world money pie (from banks) by using crypto assets.
it would happen if bitcoin is already widely used by everyone because bitcoin has its own wallet to save money so the bank is no longer needed.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: vessing on July 10, 2018, 07:04:26 PM
In order to understand - what is bitcoin in the role of money (although this is just one of the possible uses of bitcoin) you need to understand - What is money at all.
The majority will say: "I know what money is!", And at best will enumerate the definitions and functions of money from the textbook on economics


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Yurkov on July 10, 2018, 07:21:20 PM
Actually they are not attacking Bitcoin, they were just not sure about how to make regulation directly to block chain, but as  of today they are now open to this kind of issues and topic because many bank user are now involving to crypto with their money instead of investing on bank.
That is in some way true but for me banks are trying to make their "services" better and gain bigger amount of customers than crypto has, that is a little battle but for me crypto will be the winner at the end.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: smiledeveloper on July 14, 2018, 05:05:37 AM
Actually day by day people are loving  Bitcoin or other crypto currencies. People are fond of it that's why banks are attacking bitcoin to gain profit again.
Banks are facing loss of profits. Now a days huge transaction made by bitcoin or other virtual cryptos.

So, Transactions made via Bitcoin or other cryptos kills transactions made via banks.

But the topic is essential! It should be upped!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Faeton on July 14, 2018, 07:44:37 AM
Bitcoin and other crypto currency are strong competitors of banks, because many people stop using banking services and switch to using crypto currency. From this, bankers lose customers and their profits. Therefore, they try to blacken the crypto currency and turn people away from using it. However, this will happen as long as the state does not legalize the crypto currency. After that, they will be forced to cooperate with the crypto currency and provide various services with its use.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Bitknick on July 14, 2018, 08:27:21 AM
Just when bitcoin comes into circulation, banks will lose all their profits and will remain at zero!


Title: Re: Why Banks are attacking Bitcoin ?
Post by: lokanot0 on July 15, 2018, 02:55:35 AM
Banks does not exactly hate Bitcoin is itself. What the banks hate is how the crypto world works and these includes how bitcoin transactions are made. But bitcoin cannot defeat a fiat currency use by banks, unless the use of bitcoin is legalize in that country. In that instance, there would really be competition on the popularity of bitcoin and the banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Koadharber on July 15, 2018, 07:01:27 PM
Banks does not exactly hate Bitcoin is itself. What the banks hate is how the crypto world works and these includes how bitcoin transactions are made. But bitcoin cannot defeat a fiat currency use by banks, unless the use of bitcoin is legalize in that country. In that instance, there would really be competition on the popularity of bitcoin and the banks.
You are explaining something which is entirely contradicting on your statement. They do hate bitcoin because its just all the same when we do talk about crypto since bitcoin is the only coin in the market that do able to create such payment system which is basically affecting bank sectors in regards with payment system.
Its just normal for them to react and it is already an anticipated thing for them to do.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: idex100 on July 15, 2018, 07:04:04 PM
The scheme of things is that one would always attack what one believes to be a competition in order to kill it.That is the current relationship of btc with banks,Banks see btc as a competition


Title: Re: Why Banks are attacking Bitcoin ?
Post by: longrhm0 on July 16, 2018, 02:05:38 AM
you have point out such a lot of motives why banks attacks bitcoin and crypto forex in fashionable but one the fundamental motives why banks attacks crypto currency is that bitcoin and crypto forex is will on the end soak up their activity and commercial enterprise if usually followed via all the government of the arena.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: East2011 on July 16, 2018, 11:56:04 AM
Banks don't want any competition between them and bitcoin. So they are always  attacking bitcoin. They want to put bitcoin down. Because they are afraid in bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tylor4343 on July 17, 2018, 04:48:02 PM
These banks are always dictating the world especially on the financially side which influenced nearly every events and actions. These banks are the ones holding and controlling governments. So these banks wanted everything new to be controllable and something that they can also benefit.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: LuckyMan21 on July 17, 2018, 06:26:41 PM
The fact is that banks are not profitable from the crypto currency. Banks make money on ordinary money and want to continue doing it


Title: Re: Why Banks are attacking Bitcoin ?
Post by: frankiemalton on July 17, 2018, 06:53:53 PM
To be fair, bankers aren’t the only ones that have raised their level of scepticism about the rapid to ascend of Bitcoin and other digital currencies.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: smiledeveloper on July 19, 2018, 09:40:53 AM
Hey Buddy,
Simple, Banks are losing their profit only because of Bitcoin. Day by day people are more interesting to deal with bitcoin. Investment are increasing gradually where Banks are losing investment from their client. Banks already made a statement that Bitcoin is their competitor to this modern World. Because it's nearest future that people only dealing with Cryptos/ Bitcoin they won't be able to see physical money.

Banks are frustrated by losing their profit.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jrrsparkles on July 19, 2018, 01:09:21 PM
Hey Buddy,
Simple, Banks are losing their profit only because of Bitcoin. Day by day people are more interesting to deal with bitcoin. Investment are increasing gradually where Banks are losing investment from their client. Banks already made a statement that Bitcoin is their competitor to this modern World. Because it's nearest future that people only dealing with Cryptos/ Bitcoin they won't be able to see physical money.

Banks are frustrated by losing their profit.
Yes that is so simple,if bitcoin is their enemy if them then it is normal that they are attacking it and making it as a bad thing among people.

But now a days the bitcoin has a spot in the modern world and people will get adopt to the new system gradually so they are getting more scared that their extinction is very near,


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Andrey13101991 on August 21, 2018, 10:59:56 AM
The spread of digital money is undesirable for banks, given their current problems, which they have faced recently. Speech, first of all, is about low demand for loans, lower profits due to lower interest rates and fading hopes for deregulation.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Metall303 on August 21, 2018, 11:14:32 AM
Probably the general fear among banks regarding Bitcoin is that it completely destroys the need for intermediate transactions between financial institutions.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: miramax-10 on August 22, 2018, 11:11:40 AM
Bitcoin technology, unlike banks, is decentralized, anonymous and uses a minimum transaction fee. Any person, regardless of status and financial position, can send money in any quantity to any part of the planet. Against bitcoins, war is waged not only by banks, but also by the government, as governments and banks work together.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Agrabah on August 23, 2018, 03:29:55 AM
Bitcoin is a competitor to banks and their industries. But it is also clearly seen that the banks themselves do not want to kill bitcoin, I think they want to exist together but dominating the cryptocurrency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Danilotot on August 23, 2018, 11:04:33 AM
I know the bank is one of those who do not like cryptocurrency like bitcoin, because it's their rivalry when it comes to currency exchange. but I think the banks can not stop the crypto because it's stronger.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: alex3.alex03 on August 23, 2018, 01:47:30 PM
Among the main advantages of crypto currency compared to banks is the lack of the need to provide identity documents for the opening of the Bitcoin-purse.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Rustamm on August 23, 2018, 04:25:32 PM
Banks will always slander bitcoin and other decentralized crypto currency, since such a crypto currency takes away part of their clients from bankers, and with them part of their profits. Especially a lot of negative information regarding the crypto currency banks will be issued before the legalization of the crypto currency by the states. After the legalization of the special meaning, this will not be done, since it will already be under the protection of the state.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Ms.Anna on August 23, 2018, 05:35:35 PM
Banks are extremely conservative institutions, but bitcoin - rather the contrary, is in free float.
Banks are used to controlling and passing all financial flows through themselves and most importantly, that all banks are inherently linked to the state bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: rameyhong on August 23, 2018, 06:07:29 PM
Simply put, Banks want to destroy Bitcoin before Bitcoin destroys them because Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of governments and banks. That’s why they want to limit this potential by attacking the very premise and the valuation of Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: marcbitcoins on August 24, 2018, 02:47:17 AM
Some of your arguments of why the banks are attacking Bitcoin are true but not all the banks are against the Bitcoin existence specially in the countries that Bitcoin is declared legal. In fact here in my country that even do Bitcoin is not legal but not ban, many banks are already in partnership with our local exchanges in which we could use their withdrawal facilities from Bitcoin earnings. So i guess this attacking issue will be limited only to those countries that are against Bitcoin existence.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Aramazdi on August 24, 2018, 03:23:33 AM
The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!
of course banks do not like bitcoin and even attack bitcoin, banks around the world can go bankrupt in total if bitcoin currencies dominate the world, we see many conveniences offered by cryptocurrency, the process is not complicated there is no barrier between countries, and its secrecy is guaranteed and surely it can't be regulated or controlled by any country, that's what all banks in the world are worried about and of course the bank doesn't want to lose their money tree.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: doodle07 on August 24, 2018, 04:04:38 AM
Bitcoin is a big threat for banks and so thus governments, its a tough competition for them if bitcoin is widely use and for now they do propaganda and negative issues that makes bitcoin as a negative thing, in that case they use media all over the world to brainwash the minds of people. Banks and other governments are preventing the spread of cryptocurrency worldwide.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Andrew S on August 24, 2018, 07:30:56 AM
Banks work for themselves and their profits.  If bitcoin comes into play, he can push banks off their site and they do not like it, so they drive them away.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: saaux on August 24, 2018, 01:15:45 PM
Because of the currencies field we know that the crypto has not been long since the bank has used the currency. because now the crypto has entered the currency like coins btc, eth, dent, tron, some of which are in cryptocurrency so the basins will be empty. that they will beat the crypto. so there they are wishing that one day they will disappear in the currency field. so another bank makes the bitcoin a partnership. it's like that.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Yurkov on August 25, 2018, 11:54:07 AM
Banks work for themselves and their profits.  If bitcoin comes into play, he can push banks off their site and they do not like it, so they drive them away.
Bitcoin could be used in the same ways like cash now, that is why it could be so hard for banks to get the same level of income when people will move their savings and probably wages to crypto.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Metall303 on August 27, 2018, 08:25:35 AM
If banks begin to work with bitcoin, they will not start to receive less profit, and this is not profitable for them. Banks are led by people who want to increase their capital and they are absolutely indifferent to comfort for ordinary people.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: tonthoduy on August 27, 2018, 03:09:41 PM
because now the crypto has entered the currency like coins btc. its a tough competition for them if bitcoin is widely use and for now they do propaganda and negative issues


Title: Re: Why Banks are attacking Bitcoin ?
Post by: vessing on August 28, 2018, 08:05:20 AM
Crypto currency is not only reliable, fast, anonymous and transparent, but also does not obey any central authority. Thus, there is no reason why the state or banks should not be afraid of crypto-currency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: canej on August 28, 2018, 12:04:12 PM
Recently, the growing confrontation between traditional financial institutions and crypto-economy has become increasingly evident. Thus, the world's largest banks glorify laudatory odes to the blockade and its opportunities for transforming the financial market, while severely criticizing bitcoin and other digital currencies for their "insecurity," "high-risk," volatility, "excessive anonymity," etc.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Madara_Uchiha on August 29, 2018, 09:43:41 AM
The modern financial system was formed over the centuries, developing new rules, laws and requirements, but with the advent of the crypto currency its stability and the degree of confidence on the part of consumers was somewhat shaken.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: reharaja1 on August 29, 2018, 03:37:38 PM
Banks have different approach when it comes to cryptocurrencies but most of them doesn't like bitcoin as they were kept saying that bitcoin is somewhat a ponzi scheme and can manipulate the price by those big waves, but some country/central banks sees this as an opportunity to lessen the transactions in bank each day.
(i just want to say that they are afraid.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Pattart on August 29, 2018, 03:41:09 PM
I know the bank is one of those who do not like cryptocurrency like bitcoin, because it's their rivalry when it comes to currency exchange. but I think the banks can not stop the crypto because it's stronger.
First I don't think there is a competition between bitcoin and banks, after all they can work together to accept bitcoin as a deposit
option and withdraw right? and I don't see any bank attacks on bitcoin or cryptocurrency in my country..


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Danilotot on August 31, 2018, 02:30:53 AM
because the bank does not want the crypto money management method, and this bitcoin is one that reduces the currencies that the bank should make. Bitcoin is one of the obstacles to the banks of the country and it will also take on them once in the day.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: alex.ac.ab on August 31, 2018, 04:36:27 PM
Because they are afraid of competition and crush the weak link.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: F_Ivanov1993_ on September 01, 2018, 08:23:09 AM
As elsewhere, bitcoin is a competitive currency that can change the economy.  Therefore, banks are trying to push out bitcoin in every way.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: levaorg on September 03, 2018, 08:48:14 AM
Banks are probably trying to gain time because they know that they have to adapt but are not ready yet. They know that they cannot oppose it in the medium term.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: glowing10 on September 03, 2018, 03:03:12 PM
The modern financial system was formed over the centuries, developing new rules, laws and requirements, but with the advent of the crypto currency its stability and the degree of confidence on the part of consumers was somewhat shaken.

They also think that crypto which is very cheap way to transfer the money across globe within no time and if it is used than their banking swift or other facilities which are of higher fees are being charged will be closed down and thus their profits will get reduced.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: zabizana on September 04, 2018, 09:27:32 AM
The simply put, Bitcoin offers an alternative to the conventional, state-sanctioned banking system. that's why Bank are attacking Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ngamuk tok on September 04, 2018, 04:26:26 PM
Bitcoin as a payment solution is a good opponent of banks. That's why the don't like Bitcoin. It also has an advantage of being a currency that any bank can not beat. So, most economists don't like Bitcoin both as a payment solution and as a currency. That's why they say Bitcoin is a bubble time to time...
yes until now they also still have not given up with that, they continue to spread the FUD about crypto currencies, obviously they consider Cryptocurrency especially bitcoin as a big threat to them.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Faeton on September 04, 2018, 07:51:07 PM
Banks will always attack bitcoin and other crypto currency, especially in the period prior to its legalization, because the crypto currency for them is a direct competitor. People turn to using crypto currency and less turn to banks, bankers from this lose their profits.
However vseravno as a result, banks and decentralized crypto currency will be forced to coexist together and banks will have to accept this.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: 1BTC EQUALS 1CAR on September 05, 2018, 01:50:19 AM
Banks are afraid of it because it will dominate the financial economy for sure. They can clearly see the future where they will even beg for people who has money to sign up to them because the world has shifted to the convenience of having a personal bank with bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: 1BTC EQUALS 1CAR on September 05, 2018, 02:44:58 AM
Because banks are selfish. They are not favoring what can help the economy and they only think is about on how they make much more money from much more people to expand their business. The bank industry should respect what bitcoin can do and not as a threat.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Gadhoh on September 05, 2018, 01:54:34 PM
Its just a complete business competition between crypto currencies and local fiats. As banks want fiats values to be up banks do forbid crypto currency to enter into any country. Thus banks approach the concern authority of the respected country to ban or avoid using crypto currency in the country. There are en number of benefits gained out of crypto currency then local currencies. Hence investors turn towards crypto rather than local fiats in the currency market. These are few reasons for banks banning using bitcoin via authorities.
Bitcoin products do not have adequate consumer protection rules. For that reason, if there is a loss, the user cannot file a claim, besides that there is a high risk of price volatility because the value is determined on the expectation of future supply and demand, speculative. Bitcoin technology is also cross border or can be used across countries and continents. This digital currency is not tied to banks or government and allows its users to shop without revealing their identity.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: belimblink on September 05, 2018, 10:38:52 PM
The fact that Bitcoin is not printed and does not need a third party is something that the Bank does not like. So, it is easy to guess why the Bank attacked Bitcoin.

Banks are forces that print currencies that have embedded interests, they have and will always do everything to prevent alternatives that can damage existing power structures.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: F_Ivanov1993_ on September 06, 2018, 02:50:38 PM
The most popular question, since many do not understand why banks are hindering bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: chickenado on September 06, 2018, 10:52:40 PM
Banks have different approach when it comes to cryptocurrencies but most of them doesn't like bitcoin as they were kept saying that bitcoin is somewhat a ponzi scheme and can manipulate the price by those big waves, but some country/central banks sees this as an opportunity to lessen the transactions in bank each day.
Yeah absolutely bank will always wanted to manipulate the the market place in a certain countries special in block market, now that  there's a new technology that would threat their unscrupulous system in which their aim is to acquire wealth more, as much ad possible they will make everything to pin down bitcoin and the blockchain.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Eyjeyy on September 08, 2018, 04:36:12 AM
The reason why banks attacking bitcoin is because they're losing profits. Since bitcoin were use in transactions instead of banks. Bitcoin are become a competitor for banks. And bitcoin become the alternative way in any transaction which supposedly the banks will work for that.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Girlsbit on September 09, 2018, 02:08:17 PM
Banks are removing so direct competitors.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: DavidNiva on September 15, 2018, 02:11:14 AM
Especially central banks are getting affected by the rise of cryptocurrency in the world today because many people choosing saving in their bitcoin wallet rather on bank, they rather risk their money on bitcoin than saving on banks because it is more affordable and efficient.
The choice of people to switch to saving money in bitcoin is very reasonable because in bitcoin there are no additional fees at all, we cannot find anything like this in any bank, bitcoin users are not burdened by any country system, in conventional banks which usually take a long time if they want to transact between countries, what if the destination country still does not support the banking system, in bitcoin everything becomes very easy and everything is very safe, which might be a reason for people to switch to saving their money in the form of bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Gadhoh on September 15, 2018, 08:47:47 AM
I'm sure banks are now trying to play catch up as well - it's pretty clear now that people are finding many banking fees just completely unreasonable.

The tipping point will probably come once banks figure out how to significantly profit without relying on the fees. Only then will they relent to the processing superiority of blockchain tech for banking.
because if bitcoin has been used anywhere, the bank will no longer be needed, and the future will continue to run and bitcoin is increasingly popular, because bitcoin does not involve a third person to transact like a bank.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: laurakim on September 15, 2018, 09:37:20 AM
It is true that they are afraid of the development of bitcoin. Bitcoin is used widely nowadays, with its advantages, people will no longer use bank


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Danilotot on September 15, 2018, 06:30:03 PM
because banks like the bitcoin do the currency, the only difference between them is their taxpayers' first cryptocurrency. because it has not been fully accepted by other countries. And secondly, this anger has been more invested in crypto than to enter their money into bank accounts. so the banks are so mad at it. in crypto.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: jbjoyce on September 18, 2018, 07:17:07 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D
because of the loss of profit if they loss the profit they don't have invest,they are afraid of the development of bitcoin,bitcoin is used widely especily now,if bitcoin si popular and accepted to all country people will no longer used the bank


Title: Re: Why Banks are attacking Bitcoin ?
Post by: antonhuda on September 21, 2018, 02:08:03 PM
If every country gives permission to bitcoin, the customer will run to bitcoin and the bank is only a place to exchange fiat which has only a small administrative fee. This is a threat in banking and without taxes.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: deppil on September 22, 2018, 02:52:44 AM
I'm sure banks are now trying to play catch up as well - it's pretty clear now that people are finding many banking fees just completely unreasonable.

The tipping point will probably come once banks figure out how to significantly profit without relying on the fees. Only then will they relent to the processing superiority of blockchain tech for banking.
because if bitcoin has been used anywhere, the bank will no longer be needed, and the future will continue to run and bitcoin is increasingly popular, because bitcoin does not involve a third person to transact like a bank.
is it too much to call the bank attack bitcoin? because the proof is that many banks don't really care about bitcoin. and the interests
of both are different? and besides they can also walk alongside because bitcoin is not a place to save money like a bank?


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Danilotot on September 22, 2018, 07:58:28 AM
because the banks do not allow the crypto to enter the currency because they lose their position in this aspect. so they are the ones who do not agree with the crypto so many countries are hesitant to accept the cryptocurrency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: zahed on September 23, 2018, 05:53:35 PM
People can easily any amount of money transfer in all countries just a few second and so low fees spend even there are no penny tax received government. Normally, if it's transaction is completed by banks than governments received more tax.This is one reason government and bank attacking Bitcoin i think.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: skish85 on September 25, 2018, 09:16:54 PM
Banks are used to controlling and passing all financial flows through themselves and most importantly, that all banks are inherently linked to the state bank. The state bank of the country will always issue such regulatory rules, under which only banks should remain in a greater profit.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: msk19 on September 25, 2018, 09:21:45 PM
Bitcoin technology, unlike banks, is decentralized, anonymous and uses a minimum transaction fee. Any person, regardless of status and financial position, can send money in any quantity to any part of the planet.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: hacekd on September 27, 2018, 05:03:08 AM
There are a lot of reasons for the bank's bitcoin attacks. The banks are not happy because their customers are not getting enough money

not because of that, because banks will always get money from their customers, but if a country has begun to legalize bitcoin, the bank is no longer needed with the reason that bitcoin transactions do not require banks.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: 1NV3ST0NM3 on September 27, 2018, 02:07:01 PM
Why are banks, governments attacking the bitcoin and the crypto currency market is the most debatable topic that we have today. All people have got their point of views and no side is reaady to accept the defeat. These countervailing arguments upheld by the opposing parties sometimes confuse me as to who is right and who is wrong. But all I know is bitcoin has helped me a lot to come out of my financial troubles and I really do feel it is one of the best inventions for the betterment of mankind. So I just now keep away from all these debates and focus on my holdings and diversifying my investment portfolio.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: bryant.coleman on September 28, 2018, 02:33:40 AM
Fund transfer can be much more effective, faster and cheaper, if it is done through crypto. And this can pose a serious problem for the banks. In case crypto captures the market share, then the major banks may witness a steep fall in their revenues.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: gayletot on September 28, 2018, 04:49:36 PM
because we know that banks are also using the currency. so they do not want to lose their jobs. they know they have nothing against cryptocurrency. that's one reason why crypto is not legal in another country.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: skish85 on October 01, 2018, 11:57:17 AM
Because banks can lose a significant part of their consumers and, accordingly, their income will decrease.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Tapyaks72 on October 03, 2018, 02:36:06 AM
Fund transfer can be much more effective, faster and cheaper, if it is done through crypto. And this can pose a serious problem for the banks. In case crypto captures the market share, then the major banks may witness a steep fall in their revenues.
We agree it or not traditional banking systems are considered a middle man that would control the economic activities in their favor.  Their investor will  only  received small interest while  the big part of the pie will go to the bank, crypto currency has the big impact to the banking system because it is a P2P and never have  control over it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: saaux on October 03, 2018, 07:33:31 AM
because they knew that when the country entered the crypto they would have no benefit in the country. especially the bank is like a crypto. That's also why countries do not want cryptocurrency.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: BioHackerus on October 03, 2018, 10:04:38 AM
Loosing control for sure. At the moment they have it 💯. BTC changes how the game is played


Title: Re: Why Banks are attacking Bitcoin ?
Post by: ibrar.noman on October 04, 2018, 07:03:09 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

Bitcoin offers an alternative to the conventional, state-sanctioned banking system.Capital controls are supposed to be a thing of the past,The basic idea behind Bitcoin is to use a combination of public-key cryptography and peer-to-peer networking to create a virtual analogy of gold.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: wantmanymany777 on October 07, 2018, 02:08:14 PM
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Title: Re: Why Banks are attacking Bitcoin ?
Post by: Siti Nurbaya on October 08, 2018, 02:33:18 AM
The possibility of a bank not being able to control consumers and this is that many customers will run to crypto, fear that what happens will have a negative impact on the bank, the losses can be many. Banks are not ready to do this, bitcoin has a high level of risk.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: skish85 on October 08, 2018, 01:00:09 PM
Currently, banks are beginning to cooperate with cryptocurrencies. I think that because of the popularity and benefits of cryptocurrencies, banks will be forced to adjust to the opinion of society.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: CoinPocket on October 08, 2018, 03:55:21 PM
Banking sector leaders afraid to loose control of financial situtation in a country and manipulate society as a whole.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: savioroshan on October 13, 2018, 05:29:04 PM
Banks are afraid of the growth of bitcoin and crypto world due to the ability of it to create digital forms of payment without any kind of hustles that are  imposed by bankers and governments. Latest price growth of bitcoins are also one of the reasons why banks are attacking crypto markets. Cross border payment is one advantage of digital currencies and also keeping the identity anonymous are some of the key features why the banks are against it.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: nuraziaaziz on October 19, 2018, 06:25:17 AM
Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

I am trying to write good article and trying to research more to build good article. Really dreaming to get first MERIT. Thanks you guys. (Forgive me for any mistake) :D :D :D

I totally agree with your points because Bitcoin have an easy process compared to Banks. Not only that, it is decentralized and to secure digital money and money transfer and that is why Banks are attacking Bitcoin.


Title: Re: Why Banks are attacking Bitcoin ?
Post by: Danilotot on October 19, 2018, 08:49:43 AM
because the banks are really angry with the crypto. We know that the bank is also a currency, they do not want to accept the bitcoin to enter the bank because it is illegal. that's what I read when I started crypto.