The Real Reason Banks Don’t Like Bitcoin

[ANTIcentralized]

Banks are already very heavily regulated, the most so in generations. I doubt regulators can realistically impose much additional regulation on them.

[WeMineCoins]

Reading this article I don't understand how this was a secret to the community (was it?) Dealing with as many banks as I have with my business the reason was made very clear by the compliance department of the banks as well as the top management at the banks.

[btmtb]

Reading this article I don't understand how this was a secret to the community (was it?) Dealing with as many banks as I have with my business the reason was made very clear by the compliance department of the banks as well as the top management at the banks.

I don't think this was actually any secret, and I don't think the article has much value, I think the OP is trying to create backlinks for the site he 'happened' across somewhere, check his post history.

[oceans]

I think banks dont like bitcoin because they have less control of the money. I could see in the future if they had you store your bitcoin on their wallet that has been assigned to you.
Just so if they need to take some type of fee or doing a charge back. This would mean putting names to wallets and it would no longer be anonymous. I dont like the thought of that at all.
I hope it doesnt come to that. I guess we'll see what the banks role turn into in the near future. I have a feeling they are going to figure out a way to make a buck or 2 on it.

[TRex95]

It is saying that banks hate Bitcoin because the amount of extra money and work it is costing them, no where does it mention anything about competition...

The problem is Bitcoin cannot be charged back and their internet banking is not extremely secure. Mostly only SMS 2 factor authorization and given how often computers+phones are compromised, SMS 2 factor authorization is not enought when dealing with Bitcoin

Banks online banking system is actually pretty secure. It is generally not compatible with TOR and VPNs because they use your ip to see if you are logging in from an unusual place and can place limits on login attempts before they will lock you out.   

[AliceWonder]

Hi Keanbosch, just a quick question, what's your relationship with ahametals.com? Are you doing astroturfing/seo for them? Is it your site and you're chasing backlinks? Almost everyone of your posts seems to link to stories that have been posted there (even the re-written ones).

Maybe he just gets his news there.

What's the big deal?

YouTube has an incredible amount of leeched stuff, as do a lot of sites.

[deert]

I am of the view that banks do not have to worry about BTC will replace them. BTC will ultimately have to be converted to currency
BTC threatened the bank some of the benefits of, the banks will only hate it

[7queue]

Dig into how banks make money,

"Banks also lend to each other on a huge scale. Most of this lending is on a short-term basis, usually no longer than three months, often just overnight."

I see it as the banks are hesitant to embrace such a young technology before it is fully vetted and until they know how to profit off it.

8 )