When will banks start a war against bitcoin

[10yearsolder]

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

That is right. The banks are flexible themselves and can very much adapt to the call of the times.

[darkangel]

I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

Currently, bitcoin is not accepted by banks. But it also does not interfere with the development of bitcoin. When banks fight bitcoin together, bitcoin users have taken advantage of them to commit illegal acts.

[Gameroid]

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

yes that is true that they are not going to start war against bitcoin. i think if the stage or the government will consider bitcoin as legal currency then i think they will also start accepting bitcoin and they will create wallets of depositing bitcoin and i think that they will be more happy and will get good profit from it.

[HabBear]

There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.

Banks aren't making these accusations. Politicians and governments are. There's a big difference.

Banks are in business to make money. Bitcoin can make them a lot of money. They're not going to try to bring it down, they want to participate and make a ton of money.

This the politicians we should worry about. They don't have real understanding of what Bitcoin is or why it improves a failed system. A system, by the way, that politicians (over history) have created and continue to support. If politicians deem Bitcoin as a threat they will enforce laws to make it difficult for people to use it.

As the base of voters we can combat that worry by voting in politicians that are supportive of Bitcoin and the market it strives to create.

[manchester93]

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

Indeed, banks are filing blockchain patents left and right. They'll integrate bitcoin services in time because there will be demand for it; and they'll generate bitcoin revenue as a result. The ones who will be hurt in the end are the central banks, not the commercial banks.

[the rise]

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

Indeed, banks are filing blockchain patents left and right. They'll integrate bitcoin services in time because there will be demand for it; and they'll generate bitcoin revenue as a result. The ones who will be hurt in the end are the central banks, not the commercial banks.

Bitcoin integration begins with the central bank and has been done by japan, all policies can't be done by commercial banks without orders from government banks, I agree with you if no one will war from any party, because money can only be applied by rules without having to go through rejection process.

[monocolor]

I don't think banks will start a war against bitcoin. In fact they invested heavily in blockchain technologies and it makes their international money transfer very low cost.

[bitcoinVPSD]

The battle between the bank and bitcoin will not happen. I think so .. if that happens then many banks accepting bitcoin will now be chaotic. Governments of countries will accept bitcoin as Korea will how when  when they encourage people to approach bitcoin?

[panju1]

I don't think banks will start a war against bitcoin. In fact they invested heavily in blockchain technologies and it makes their international money transfer very low cost.

There is a big difference between Bitcoin and blockchain. Using blockchain technology reduces costs a little bit, but not much. International money transfer has high levels of compliance costs, which will still be there, whether you use SWIFT or blockchain.

[Realist247]

Banks will never start a war against Bitcoin. I think The banks will find a way to use Bitcoin in their favor. Banks love money, no matter where they come from.

Indeed, banks are filing blockchain patents left and right. They'll integrate bitcoin services in time because there will be demand for it; and they'll generate bitcoin revenue as a result. The ones who will be hurt in the end are the central banks, not the commercial banks.

Banks don't care about speculators...which are 95%+ of Bitcoin holders...unless the banks are doing the speculating.  Don't forget that the central banks rule the commercial banks....who are usually the shareholders of the central banks.  If the demand is coming from speculators and not ordinary depositors, BTC is in big trouble in the future.  Central banks have found ways to drive down the prices of precious metals for years and drive away a large % of those who wanted to own them right after the financial crisis of 2007-2008.  Don't think for a second that they cannot do the same to BTC speculators leaving the currency a depleted skeleton of what it was once (like now).

[romani245]

I don't think banks will start a war against bitcoin. In fact they invested heavily in blockchain technologies and it makes their international money transfer very low cost.

There is a big difference between Bitcoin and blockchain. Using blockchain technology reduces costs a little bit, but not much.

It's not even clear to me how blockchain technology can reduce costs for banks. Decentralization would only make things less efficient, and since they are fully government-sanctioned, centralization is fine. They are better off using databases than blockchains...and that's basically what one-node or private blockchains are: centralized databases.

[Yaramrd]

The battle between the bank and bitcoin will not happen. I think so .. if that happens then many banks accepting bitcoin will now be chaotic. Governments of countries will accept bitcoin as Korea will how when  when they encourage people to approach bitcoin?

I agree with you and I think many others banks will start accepting Bitcoins.

[GideonGono]

I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

In our country, banks don't really war with it but in fact partners with our leading local exchange which we can withdraw from their ATM machines. Also some remittance centers ehich we can easily claim our converted Bitcoin into fiat or by using kiosk machines. The war lies on the government since they are the ones who really produce the centralized fiat system and the one who craft the law and regulations whether to allow it or not.

[0t3p0t]

I know we are still at a start of cryptocurrencies, but bitcoin is growing with lightning speed right now and some banks already see it as a potential threat.
There has been a lot of accusations form banks, that bitcoin is perfect for money laundering and is used for supporting crime.
I think they can do a lot of harm to bitcoin market and they will eventually start with harsh campaign against it.
Do you think it will happen and when?

Well I think banks or even governments can't start a war against Bitcoin because since Bitcoin uses decentralized blockchain technology. The only thing they can do is to regulate some exchanges with KYC to track for people who are involved in money laundering or to those also supporting crimes. Bitcoin could be a threat to banks if the demand on fiat reduced since they produce it in high volume. People tend to hold Bitcoins than fiat. People feel they are safe if they invest their money into Bitcoin than fiat that in anytime may colapse due to crisis. I think it is just a rivalry or competence in business not a war.

[traderethereum]

i think the government will thinking twice to start a war with bitcoin because i am sure that they can see bitcoin have a big community and bitcoin have a new technology that they could applied with the banks. maybe the banks is already applied the blockchain system but they don't make explanation anything. its not good to start a war with something that giving many benefit for people especially for the citizen because the government should realize this and they need to learn more about bitcoin itself.

[Akash1243]

I don't think so that there would be any conflict  between banks and btc as banks gives car loans,housing loans and etc while btc can't give something like that so banks will not see btc as a threat but as a opportunity to expand i guess in future.But also btc are not legal in many countries and government are trying to control it ,so banks using Bitcoin for now may be hard and it also depends on government as some have legalised btc.

[franco123]

In my opinion, as Financial Management graduate who also studied banks, I think this is not the way that banks will take action about it. They will not start a"war". It will be costly. Trust me, banks will do their best to minimize the cost and maximize the profit.

Instead, they might even start to support Bitcoin. Because it is an opportunity for them to earn money from it. For example, they can offer on accepting Bitcoin tradings and Bitcoin account application with training. Then they might also be available for Bitcoin deposits, securing your Bitcoin from hackers.

There are other more opportunities for banks to earn from Bitcoin. Which is why I think they will not start a war, but instead start to support Bitcoin.

[Kevondo]

They already did. From my memory, there is several major banks, including Central European Bank, which clearly said to people that it was dangerous to invest in Bitcoin, and that they should focus on their investment plans with ridiculously low yields.

yeah, some banks do such things to make their customers still on the point that they must keep their savings in a bank so that bank will profited. You know what everybody wants to make their business continue, so for this reason they talk wrong about the factors which effects their business like bitcoin now is big threat for banks that is why banks started war.

[bitcoinmasterlord]

I don't think so that there would be any conflict  between banks and btc as banks gives car loans,housing loans and etc while btc can't give something like that so banks will not see btc as a threat but as a opportunity to expand i guess in future.But also btc are not legal in many countries and government are trying to control it ,so banks using Bitcoin for now may be hard and it also depends on government as some have legalised btc.

Yes first the governament need to make this currency legal after words the competition starts b/w banks vs. Bitcoin till that there is no problem for banks. But now the bank's revenue is reduced because of this Bitcoin. Once the govt allow people to use Bitcoin legally, then banks will start far against Bitcoin.

[pecson134]

War is not the correct  way to put it but competing is much a better wording. I think several banks already have started to have an eye on bitcoins and begins to compete with them. They won't keep silent if bitcoins were to dominate the world of currency so they started to compete them in various ways possible.