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Author Topic: Why Banks are attacking Bitcoin ?  (Read 2866 times)
Irvinn
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March 28, 2018, 07:24:51 PM
 #141

Banks are attacking and while they continue to attack bitcoin because he and other crypto-currencies take away their clients, and with them their profits. Therefore, banks are trying by any means to compromise the crypto currency in order for less people to switch to its use. They use the organization of direct libelous articles and videos in social networks, as it was recently with one of the banks of Poland, and before sending out apparently innocent letters warning of possible risks when investing in the crypto currency. Credulous citizens and this is enough to no longer be interested in further crypto currency. This will continue until the states recognize the crypto currency and continue such attacks will be meaningless. Then the banks will have to rebuild and begin to adapt to it and extract their profits from its circulation.

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March 28, 2018, 08:51:47 PM
 #142

It should be recognized that banks are now really attacking the crypto currency, and above all bitcoin because of the fact that the crypto currency is a very good and dangerous competitor for them, which is able to take their work from banks and, most importantly, their profits. Therefore, banks are still trying by any means to compromise the crypto currency and form a negative attitude towards citizens. This will continue until the crypto currency is legalized and will not be regulated by the states. However, the crypto currency and banks will always remain competitors.

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March 28, 2018, 09:14:43 PM
 #143

It should be recognized that banks are now really attacking the crypto currency, and above all bitcoin because of the fact that the crypto currency is a very good and dangerous competitor for them, which is able to take their work from banks and, most importantly, their profits. Therefore, banks are still trying by any means to compromise the crypto currency and form a negative attitude towards citizens. This will continue until the crypto currency is legalized and will not be regulated by the states. However, the crypto currency and banks will always remain competitors.

We need to understand, if bitcoin raises and completely capture all the transaction medium means then banking will be collapsed and will face the financial crisis in the many places. More over corporates and shit politicians will not be able to survive bitcoin in the market due to banking ends up.

Now Japan and then China tomorrow about legalizing bitcoin. I hope with in 10 years usage of bitcoin and cryptos will be larger among all set of people bro.

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March 29, 2018, 05:34:57 AM
 #144

The advantage with Bitcoin and other forms of crypto-currency is that you can store them without any help from the banks. So if a large number of people start using BTC to store their wealth, then the banks may witness a decline in their annual profits and revenue. So it is not surprising that the banks are attacking Bitcoin.

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March 29, 2018, 08:00:09 AM
 #145

who controls the financial world does not want to lose its power ... and all its gains. the banks lose power when they lose customers (if we all choose the blockchain and abandon the banks ...  Roll Eyes Grin Wink)
albeit very different, cryptocurrencies can be considered the competition of the traditional banking system.
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March 29, 2018, 08:21:08 AM
 #146

The Banks attack Bitcoin because the Bank does not want its position replaced by Bitcoin. There are so many people who use Bitcoin as a transaction tool even as an investment asset. So the Bank is very worried about the presence of Bitcoin increasingly rampant in the World.
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March 29, 2018, 09:51:48 AM
 #147

I think one of the causes is because most banks have difficulties to regulate the existence of bitcoin considering all its characteristics quite contrary to the applied systems. But this will be another story, if indeed the banks can really deepen the technology associated with bitcoin and all its characteristics, maybe it can avoid any risks or impacts that affect the financial system.
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March 29, 2018, 11:26:06 AM
 #148

The main reason (why banks don't like btc and other cryptos) is the loss of profits.
Transactions made via blockchain kills transactions made via banks.

But the topic is essential! It should be upped!
Absolutely right. In addition to this statement, Banks are threatened that they might lose their huge investors, withdraw their saving and invest it in bitcoin. To think that bitcoin can give more profits than bank who only offers ablittle bit of interest from our savings. While in bitcoin, our smll small will definitely make a fortune in a long term investment and to think that it is decentralised. So why would investors still stick to bank, right?

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March 29, 2018, 01:27:41 PM
 #149

Bitcoin as a payment solution is a good opponent of banks. That's why the don't like Bitcoin. It also has an advantage of being a currency that any bank can not beat. So, most economists don't like Bitcoin both as a payment solution and as a currency. That's why they say Bitcoin is a bubble time to time...
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March 29, 2018, 03:38:29 PM
 #150

Why do banks destroy bitcoin, this is understandable. They cannot accept that someone is encroaching on their monopoly over our money. But bitcoin is not just attacked by banks. That the government is not attacking bitcoin? They also do not want to lose the financial leverage on all citizens. Big capital is also against bitcoin. They're losing money on our money. I'm sorry people don't understand that.
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March 31, 2018, 03:09:53 PM
 #151

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.

To be fair, bankers aren’t the only ones that have raised their level of skepticism about the rapid ascend of Bitcoin and other digital currencies. But to call the digital currency a fraud and a tulip is more than skepticism, in my opinion. It undermines the potential of Bitcoin to become a “peoples’ currency,” and replace national currencies.
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April 01, 2018, 09:45:56 AM
 #152

Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.

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April 01, 2018, 12:50:21 PM
 #153

Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.
You drew the perfect picture. But in fact, we are still very far from it. A large number of people who are bitcoin users are happy to agree to accept the conditions for regulating bitcoin that governments offer. People have not got rid of the habit of using Fiat. And this makes bitcoin easy prey for bankers.


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April 02, 2018, 10:50:48 AM
 #154

Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.
You drew the perfect picture. But in fact, we are still very far from it. A large number of people who are bitcoin users are happy to agree to accept the conditions for regulating bitcoin that governments offer. People have not got rid of the habit of using Fiat. And this makes bitcoin easy prey for bankers.

The main reason behind this is if bitcoin enters it will dominate the fiat. Many people now using bitcoin as their main asset if it continues no one needs bank for investment. Because the profit is more when compare to ban interest. So they never allow bitcoin to enter the country. If government allows bitcoin people use only bitcoin they never use local fiat.

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April 03, 2018, 04:46:12 PM
 #155

Over the years, cryptocurrencies have had a huge impact on the global financial economy. Central banks in many countries feel threatened, Bitcoin attack bank control because of the movement of the money that continues to circulate. Bitcoin is growing rapidly and can soon stand with financial assets like gold, and this can not be ignored.
You drew the perfect picture. But in fact, we are still very far from it. A large number of people who are bitcoin users are happy to agree to accept the conditions for regulating bitcoin that governments offer. People have not got rid of the habit of using Fiat. And this makes bitcoin easy prey for bankers.

The main reason behind this is if bitcoin enters it will dominate the fiat. Many people now using bitcoin as their main asset if it continues no one needs bank for investment. Because the profit is more when compare to ban interest. So they never allow bitcoin to enter the country. If government allows bitcoin people use only bitcoin they never use local fiat.

Right. The main reason behind banks attacking or interfering crypto currencies' growth is fear of dominance. As crypto has been ruling the currency market, fiat's growth is drawn to the ground. Investors started pitching into crypto currencies than fiats. This moment brings down every move taken from local currencies. Banks can gain more when fiats so capture the market.  It's failing now. This is the reason,  banks personalities manipulate government authorities to ban crypto currencies especially bitcoin now.

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April 04, 2018, 07:35:48 AM
 #156

Actually, many banks are aspiring to break Bitcoin and of course, there is a big support from their governments. As well, it is very unfortunate that they are always attacking this currency, but the only reason is the financial losses and the widespread economic crisis in many countries and due to there is a decrease in the value of their currencies (FIAT).
As a matter of fact, the digital currencies and especially "Bitcoin" have become more successful than before, and these currencies are always criticized from many governments (Banks) because  they are not beneficiaries of financial transactions and there has been an increase in the number of  cryptocurrencies users.
In fact,  I think that the continuation of Bitcoin development and other currencies  will lead to recognition from all governments.
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April 05, 2018, 01:35:49 AM
 #157

Day by day we are getting news like , this country reject bitcoin that country accept Bitcoin. Technically it stands a contrast perspective with the Central Bank and the economy of the country. But as I love BITCOIN , I pray Every single country will accept BITCOIN one day.

No Liabilities or debt with BITCOIN:

Bitcoin is a conveyor machine, meaning that there are no liabilities or debts associated with it. You can't get loan from it , or you can't get profit through interest.  If you hold it, it’s yours. And as such, there can be no run on a “bitcoin bank.” It's Independent.

Bitcoin is considered as Fiat Currency :
Of course you can assume,  holding bitcoin superior in many ways to holding fiat currency in a deposit account. Here Fiat currency are those which can not be backed by commodities . It has all the benefits without the risk of capital controls. Because of this, the growth of bitcoin is sucking value out of national currencies. The higher capital will rise the higher value it will get.

The Capital is really HUGE
I think there is now more than $70B worth of bitcoin sitting in bitcoin wallets.One thing to consider here , the asset is not under any management. So we can call it AUP (Asset Under Management ) , but we can call it Assets Under Protection (AUP). And here is where the risk to traditional banking resides. What does a world look like when a simple bitcoin wallet is indirectly protecting as much money as big giant companies , organizations like  Bank of America or Fargo etc.

Wallet Becomes Bank
At that point that wallet becomes a bank, Haha , a newer form of bank with decentralized function, with different rules, operations, and monetization policy.

The Last Reason-  PEOPLES LOVE BITCOIN
The real reason that banks should worry about People loves BITCOIN. People always love easy process, better stability and full control. All things are available in this case. Bitcoin actually threatens the bedrock policy  and business model of Banks. That's why Banks are attacking Bitcoin.

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Big Banks want to destroy Bitcoin before it destroys them.
Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.
That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges.
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April 05, 2018, 08:07:23 AM
 #158

Banks attack Bitcoin because the Bank is aware that the existence of the Bank is being threatened because of the digital currency is increasingly known to many people around the World. But I'm sure although many people do not like Bitcoin, Bitcoin will still be able to survive anytime. And the price of Bitcoin over time will be higher.
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April 06, 2018, 10:12:30 PM
 #159

They do it cause bitcoin is killing banks, it's no more than a counter-attack. They try to defence their right to take money from our pockets and leave in theirs
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April 09, 2018, 12:47:35 PM
 #160

Banks don't like bitcoin because it is a threat to their business. They are seeing it as competition to their business because the more people who would use cryptocurrency and transfer their wealth to it, the lesser customer the banks would have which would mean less profit. Even if there are no applicable rules to cryptocurrency, some banks already restrict some account holders to discouraged others to be involved with it.

Bitcoin is not the greatest threat to their progress,But people nowadays prefer to make bitcoin transactions,because its more practically and comfortable,therefore very secure...When I say its secure,I mean that you don't need to share your personal or another identificial information with another intermediary,So you don't need to have trust,Everything is recorded by an collection of untrusted nodes and they keep track of blocks,What does it mean? Bitcoin gives better service than banks,but when I said that its not the greatest threat to progress I meant that commercial banks already use it too for their financial purposes,they use it for their own well-being...

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