Why Banks Hates Bitcoin?

[hasiramasenju]

banks hate bitcoin because banks can't control bitcoin users and considers that Bitcoin users grew very rapidly even more faster than Banks users currently and also i think bitcoin will be the toughest rival for them in the future

[sana54210]

LOl it is not that banks hate bitcoins why would they hate them they dont even need to work with bitcoins the only reason thy men think they would hate bitcoins is that bticoin has a gold value and banks owns that gold.

Well I'll tell you something why banks hate bitcoin, which has nearly been told over and over again in this thread. Bitcoin offers transparency in which everyone can see all the transactions done from who, to who, by who.
That is one thing that banks will not offer, which is why they wouldn't want a bitcoin bank. Unless they have a way to hide it, but it seems to be impossible.

[MWesterweele]

Maybe one of the reasons why banks hate bitcoins is bitcoin and  bitcoin wallets is maybe too many people who have money on banks transfer all their money to their bitcoin wallets to make it profit  and maybe they want to handle their money by their own.Bitcoin have many features that banks dont have.Like online transaction(iknow some banks have onlime bamking but not all)

[BTCLovingDude]

Maybe one of the reasons why banks hate bitcoins is bitcoin and  bitcoin wallets is maybe too many people who have money on banks transfer all their money to their bitcoin wallets to make it profit  and maybe they want to handle their money by their own.Bitcoin have many features that banks dont have.Like online transaction(iknow some banks have onlime bamking but not all)

yeah, bitcoin has the potential of replacing banks. for example all those transactions when you want to send or spend money that were going through banks are not going through bitcoin so they are missing out on many amounts of fees in this process which means less earning for them.

[GermanFoobla]

Maybe one of the reasons why banks hate bitcoins is bitcoin and  bitcoin wallets is maybe too many people who have money on banks transfer all their money to their bitcoin wallets to make it profit  and maybe they want to handle their money by their own.Bitcoin have many features that banks dont have.Like online transaction(iknow some banks have onlime bamking but not all)

yeah, bitcoin has the potential of replacing banks. for example all those transactions when you want to send or spend money that were going through banks are not going through bitcoin so they are missing out on many amounts of fees in this process which means less earning for them.

Banks are hating Bitcoin because they can see now that Bitcoin is becoming more popular and that is really nice for the currency.
But of course it will be really hard to know what is going to happen with Bitcoin in the future and that is the risky thing.

[Enotche]

Many banks are wary of the fact that the industry will undergo wrenching change. At this point, it seems that on the horizon, the banking system is seen two courses.

Banking institutions can start working in the new, ever-evolving areas of digital money. In this case, for a start they are required the recognition of changes in financial technology and the adoption of this concept.

Or, banks may continue to operate under the old system.
That's what means today use to mask the traditional banking system. Ultimately, we are likely to see, as different banks have chosen different paths of development, depending on their attitude to such disruptive technologies like Bitcoin.

[shinratensei_]

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

What banks can do better than bitcoin? If bitcoin also has 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 has become a threat to the bank, and threaten the existence of bank. With all usefulness of bitcoin will make many people think again to move on bitcoin.

[Patatas]

Many banks are wary of the fact that the industry will undergo wrenching change. At this point, it seems that on the horizon, the banking system is seen two courses.

Nope.Banks are no way scared of bitcoins,they are infact happy about the fact they would have less bullshit to be dealt with.It hardly matters for them weather it be a fiat or crypto,they know they would play a big role unless once is actively prioritized over other.Right now its fiat!

Banking institutions can start working in the new, ever-evolving areas of digital money. In this case, for a start they are required the recognition of changes in financial technology and the adoption of this concept.

They won't do that,Why should they ? That's again making the crypto world centralized.With major safety techniques and cold wallets ,I can be my own bank to store my savings safely.Peer to Peer loan is another advantage,I may add.

Or, banks may continue to operate under the old system.
That's what means today use to mask the traditional banking system. Ultimately, we are likely to see, as different banks have chosen different paths of development, depending on their attitude to such disruptive technologies like Bitcoin.

Banks would operate under the old system for permanent.They can't go all "DAO" over the dawn of bitcoins.

[Nouelle-Hunter]

There are many reasons why banks hates bitcoins.First thing is they are losing people that ues banks because people are adopting and investing their money in bitcoin and banks loses customers because they are transfering money to bitcoin wallets  because of bitcoins features of  bitcoins which is better than banks

[Cybertron00]

There are many reasons why banks hates bitcoins.First thing is they are losing people that ues banks because people are adopting and investing their money in bitcoin and banks loses customers because they are transfering money to bitcoin wallets  because of bitcoins features of  bitcoins which is better than banks

Well I agree with you. In addition to this I think banks hate bitcoin not just because of that, Banks hate bitcoin because bitcoin have the potential to overthrow fiat currency that will be bad for them, and if that happens they will have no profit and no investors. I think thats the main reason why banks hate bitcoin so much.

[HilbillyFred]

LOl it is not that banks hate bitcoins why would they hate them they dont even need to work with bitcoins the only reason thy men think they would hate bitcoins is that bticoin has a gold value and banks owns that gold.

Banks are hating Bitcoin because the value is going to rise more and more and it is also becoming more popular so that is nice for the currency itself.
And the transaction cost are also much lower than the banks and it happens also much faster so that is the nice thing of Bitcoin.

[kpitti]

I do not know if banks hates Bitcoin. I rather think they are aware, try to understand how to benefit from it. Banks are here to generate profit, money. There is couple of examples that banks trying to incorporate not Bitcoin, but Blockchain technology and security. Banks need to work on security, they do not want to loose money right.

[universe_]

they hate bitcoins because it is a threat for all the banks as people might just choose to use bitcoins instead of fiat

[CryptoBjorn]

they hate bitcoins because it is a threat for all the banks as people might just choose to use bitcoins instead of fiat

Correct, bitcoin is the main threat to both banks as governments
Banks want to earn on transaction, bitcoin provides a min. transaction fee at a fraction of the cost banks charge.
Governments want all financial information on their subjects, bitcoin provides anonymity.

[Blackmet]

I think that banks don't really care about bitcoin, they have another questions and problems to solve at my opinion, bitcoin and banks can't be togather anyway

[wuvdoll]

LOl it is not that banks hate bitcoins why would they hate them they dont even need to work with bitcoins the only reason thy men think they would hate bitcoins is that bticoin has a gold value and banks owns that gold.

But I do not think that banks not hate bitcoin for the reason of gold like concept of bitcoin. Gold will also increase their annual income and everything so, if they accept bitcoin also will do the same.
I believe in future banks will be offering a service that you can buy bitcoin from them, like what they are currently doing with gold.

[Monnt]

Banks hate bitcoin because...

*looks at fedcoin*

They don't. They want to downplay it because it is the best, and they are secretly trying desperately to fork it xD

[fayness]

maybe bank hate bitcoin because people change their money into bicoin and save in bitcoin wallet,but they dont,bank give the secure about our money and when our bitcoin wallet is hacked its the end. secure more value than the money

[jossiel]

maybe bank hate bitcoin because people change their money into bicoin and save in bitcoin wallet,but they dont,bank give the secure about our money and when our bitcoin wallet is hacked its the end. secure more value than the money

Bank hates bitcoin, because they can see that bitcoin is really a big threat to the banking system. I don't know if all banks now knew about bitcoin.
Or only few banks know about it.
But still this is going to be a big threat to them that's why their hatred with bitcoin.

[avw1982]

maybe bank hate bitcoin because people change their money into bicoin and save in bitcoin wallet,but they dont,bank give the secure about our money and when our bitcoin wallet is hacked its the end. secure more value than the money

Yup Banks hate bitcoin because bitcoin is building up a parallel economy which is anonymous in nature. Banks and governments will be furious if money is free distributed in the economy without their intervention. Money is the most powerful weapon to control people and if it is being distributed freely, the power of control will be shifted from their hands.