Why Banks Hates Bitcoin?

[cokkapaga]

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

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[MingLee]

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

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

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

[ASHLIUSZ]

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

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

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

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

[blackmachinegun]

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

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

[NordicRanger]

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

[Cyaren]

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

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

[ajun96]

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

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

[goinmerry]

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

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

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

[jossiel]

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

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

[MyBTT]

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.

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

[Herbert2020]

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.

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

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

[jossiel]

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.

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

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

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

[NewInCryptoCurrency]

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

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

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

[DimensionZ]

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

[justdimin]

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

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

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

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

[jossiel]

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

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

[Ryananda]

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

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

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

[RobinHoodster]

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

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

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

[wikenpp]

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

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

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

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

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

[thejaytiesto]

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

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

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

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

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

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