Why Banks Hates Bitcoin?

[upsidedown75]

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.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

[Yakamoto]

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.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

The banks never take anything away from you, they just devalue what you have. Thanks to inflation, we can see that nothing is taken from us, rather numbers made bigger and our slice of the pie decreases in value constantly.

I would personally invest in other commodities and items with a majority of my saving money, at least there they can kind of keep pace with the rate of inflation and make it so that I have some value in the future from what I bought now.

[sk00t3r]

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.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

yes If we are making here bitcoin wallet then nothing they are charging as compare with in bank we are going to make account they are charging too much money that's why people are loving bitcoin.  

[Oralmat]

Actually, most of the reasons are here , because the number of the people are increasing which is using the bitcoin and other coins currencies, so that's why bank earning of money is going down. you know all banks are depend on money, when bank earning will be slow, so it is not good for all banks.

[Mr.grin]

I think this time the banks are competing with bitcoin. maybe most people already pulling their money from banks and invest in bitcoin, so I guess because it was a bank hates bitcoin

[ricardobs]

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.

I would have to disagree that "Banks are hating Bitcoin because there are now also a lot of people that is using some Bitcoin." In fact, banks would love to use bitcoins because many people are using it. I agree though that banks would hate bitcoins because they can't control it.

[n691309]

I think that one of the reason why banks hates bitcoin is that people are moving their funds from their bank to bitcoin and are not coming back to the bank, the more people leave the bank the less money banks have in circulation.

[Akupuniard]

I think that one of the reason why banks hates bitcoin is that people are moving their funds from their bank to bitcoin and are not coming back to the bank, the more people leave the bank the less money banks have in circulation.

A lot of people still using banks and also bitcoin users are maybe 3% of all bank users. So i don't really think that contest is the main reason. But i don't know why bank should hate bitcoin?

[AlexBits]

I dont think they just hate bitcoins but they dont need them so they dont pay attention to
the coin. Only thing matters for them are gold and people their bank accounts. Thats all what matters to them
its not that they hate coins they don't need them.

[mark coins]

I don't think they hate bitcoin but they are scared of it as they know if bitcoin gets on the mainstream they will face tough competition from it and might loose many customers.

[Tusk]

Bitcoin is the glass slipper that banks will never fit into

[katrimans]

bitcoins sending option are less.   

[Rizky Aditya]

Banks hate Bitcoin because people are moving to Bitcoin and they are losing their business. But most people that have Bitcoin, also have a bank account.

[Kollor]

Banks hate Bitcoin because people are moving to Bitcoin and they are losing their business. But most people that have Bitcoin, also have a bank account.

Well, IMO, I don't think that those who  have bank accounts are starting to move their money from fiat to bitcoin, most of us don't invest that much in bitcoin...So probably that's not the issue why banks would hate bitcoin... I think it's more like they won't have profit in bitcoin because it is not under their control...Most probably if bitcoin can be deposited under the control of banks, then I think bitcoin would bloom faster which is I think is like a dream( could never come true) ...

[voztata]

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.

Yes, bitcoin will make banks suffering with lower profit making. When most of the people go for bitcoins payment system, then the chances of making average profits for banking would be much difficult. Obviously banks will start implementing bitcoins systems within part of their services.

[2c0de]

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.

More like to dump the hoard on the very worst moment, in an attempt to crush the price.

[Mumbeeptind1963]

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.

Bank dont hate bitcoin. Government does hate bitcoin. Theres no tax at all you we can move our bitcoin freely where ever we want and its money. they cant control it or trace it. They cant put there hands on the neck. We can put billions of dollars on bitcoin. that they will not know just wash it and walla all things is now cleaned.

[rickadone]

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.

Yes, bitcoin will make banks suffering with lower profit making. When most of the people go for bitcoins payment system, then the chances of making average profits for banking would be much difficult. Obviously banks will start implementing bitcoins systems within part of their services.

This is most common and expected result of bitcoin's arrival into financial world. How long banks can cheat people by overcharging them. Bitcoin will help many people to get their own banking even they are not eligible for traditional bank accounts. Bitcoin is going to be a new bank system for every human.

[cluit]

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.

Yes this kind of lot of advantages, people can enjoy with bitcoins system where in the traditional bank system is really sucking money from us. These are very few reasons why people are converting into bitcoins system from bank.

Yes that is why banks are getting fear about losing their customers and becoming hating bitcoins system now a days. But only the more beneficial and advantages thing will survive in the competition between bank and bitcoin. But now itself we can predict the survivor would be bitcoin.

[amiryaqot]

Bitcoin has more advanced financial system and providing more fast services than any traditional baking system, it has very low transaction fee as compare with international funds which takes a lot of days and charges very big fee these days people are using this method for fast transaction around the world and that is why banks are worry with this situation.