Why Banks Hates Bitcoin?

[bL4nkcode]

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

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

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

[Alaki]

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

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

[MingLee]

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

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

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

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

[target]

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

[chennan]

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

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

[clopoterian]

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

[MingLee]

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

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

[chennan]

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

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

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

[clopoterian]

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

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

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

[btccashacc]

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

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

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

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

[bitbite111]

Because bitcoin dosent need banks.

[Enotche]

Because bitcoin dosent need banks.

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

[bitmarket.net]

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

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

To what extent it depends on which bank you choose ?



Thanks for your input.

[RodeoX]

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

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

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

[n0ne]

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

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

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

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

[Junko]

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

[dothebeats]

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

[~Bitcoin~]

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

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

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

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

[whoreble]

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

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

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

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

[poptok1]

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

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