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Title: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: 101111 on September 29, 2014, 06:03:02 AM http://www.paymentssource.com/news/risk-management/banks-remain-hesitant-to-join-the-bitcoin-movement-3019262-1.html
tl;dr too risky Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: gmx95 on September 29, 2014, 06:48:22 AM I don't think they need to join. BTC was designed as alternative to banking system. If the banks will join, it will become over-regulated.
Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: Mr Tea on September 29, 2014, 09:36:42 AM Of course they don't want to join; why would they? Bitcoin is a direct threat to them so they're hardly going to promote it to the masses to potentially quicken their downfal.
Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: PenAndPaper on September 29, 2014, 09:39:03 AM Bitcoin isn't a threat to noone. Banks can make huge money if they start using bitcoin. And eventually they 'll do.
Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: KryptoTrader on September 29, 2014, 11:12:40 AM Banks will joins as soon as they can earn money with them
Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: Clegg on September 29, 2014, 02:10:50 PM Bitcoin isn't a threat to noone. Banks can make huge money if they start using bitcoin. And eventually they 'll do. Why would they adopt something they could never control? Why would they adopt something that gives you the control to be your own bank? Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: aigeezer on September 29, 2014, 02:17:59 PM http://www.paymentssource.com/news/risk-management/banks-remain-hesitant-to-join-the-bitcoin-movement-3019262-1.html tl;dr too risky Banks, that is. ;) https://www.fdic.gov/bank/historical/bank/ Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: LiteCoinGuy on September 29, 2014, 03:11:41 PM banks already joined and more will join when they have to
Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: dwdoc on September 29, 2014, 03:41:06 PM Of course they don't want to join; why would they? Bitcoin is a direct threat to them so they're hardly going to promote it to the masses to potentially quicken their downfal. Right or wrong, the banks do not see Bitcoin as a competitive threat. All they care about is reducing their risk of being investigated for money laundering. At this point, this is a conflict between Banks and Bitcoin on one side and government (law enforcement) on the other. The fact that money laundering is a crime is the anti-liberty ("minority report") problem here. Whenever the government cannot prove the primary crime (that one party has criminally harmed another), it cages the party it doesn't like for phantom secondary crimes such as money laundering, conspiracy or tax evasion. Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: PenAndPaper on September 29, 2014, 03:50:25 PM Bitcoin isn't a threat to noone. Banks can make huge money if they start using bitcoin. And eventually they 'll do. Why would they adopt something they could never control? Why would they adopt something that gives you the control to be your own bank? For the same reasons they use the internet although they can't control it... Bitcoin is the safest, fastest and cheapest worldwide payment network... Title: Re: [2014-09-29] Banks remain hesitant to join bitcoin movement Post by: hua_hui on September 30, 2014, 02:03:39 AM Of course they don't want to join; why would they? Bitcoin is a direct threat to them so they're hardly going to promote it to the masses to potentially quicken their downfal. Right or wrong, the banks do not see Bitcoin as a competitive threat. All they care about is reducing their risk of being investigated for money laundering. At this point, this is a conflict between Banks and Bitcoin on one side and government (law enforcement) on the other. The fact that money laundering is a crime is the anti-liberty ("minority report") problem here. Whenever the government cannot prove the primary crime (that one party has criminally harmed another), it cages the party it doesn't like for phantom secondary crimes such as money laundering, conspiracy or tax evasion. |