Why Banks are attacking Bitcoin ?

[Koadharber]

Banks does not exactly hate Bitcoin is itself. What the banks hate is how the crypto world works and these includes how bitcoin transactions are made. But bitcoin cannot defeat a fiat currency use by banks, unless the use of bitcoin is legalize in that country. In that instance, there would really be competition on the popularity of bitcoin and the banks.

You are explaining something which is entirely contradicting on your statement. They do hate bitcoin because its just all the same when we do talk about crypto since bitcoin is the only coin in the market that do able to create such payment system which is basically affecting bank sectors in regards with payment system.
Its just normal for them to react and it is already an anticipated thing for them to do.

[smiledeveloper]

Hey Buddy,
Simple, Banks are losing their profit only because of Bitcoin. Day by day people are more interesting to deal with bitcoin. Investment are increasing gradually where Banks are losing investment from their client. Banks already made a statement that Bitcoin is their competitor to this modern World. Because it's nearest future that people only dealing with Cryptos/ Bitcoin they won't be able to see physical money.

Banks are frustrated by losing their profit.

[jrrsparkles]

Hey Buddy,
Simple, Banks are losing their profit only because of Bitcoin. Day by day people are more interesting to deal with bitcoin. Investment are increasing gradually where Banks are losing investment from their client. Banks already made a statement that Bitcoin is their competitor to this modern World. Because it's nearest future that people only dealing with Cryptos/ Bitcoin they won't be able to see physical money.

Banks are frustrated by losing their profit.

Yes that is so simple,if bitcoin is their enemy if them then it is normal that they are attacking it and making it as a bad thing among people.

But now a days the bitcoin has a spot in the modern world and people will get adopt to the new system gradually so they are getting more scared that their extinction is very near,

[miramax-10]

Bitcoin technology, unlike banks, is decentralized, anonymous and uses a minimum transaction fee. Any person, regardless of status and financial position, can send money in any quantity to any part of the planet. Against bitcoins, war is waged not only by banks, but also by the government, as governments and banks work together.

[Rustamm]

Banks will always slander bitcoin and other decentralized crypto currency, since such a crypto currency takes away part of their clients from bankers, and with them part of their profits. Especially a lot of negative information regarding the crypto currency banks will be issued before the legalization of the crypto currency by the states. After the legalization of the special meaning, this will not be done, since it will already be under the protection of the state.

[marcbitcoins]

Some of your arguments of why the banks are attacking Bitcoin are true but not all the banks are against the Bitcoin existence specially in the countries that Bitcoin is declared legal. In fact here in my country that even do Bitcoin is not legal but not ban, many banks are already in partnership with our local exchanges in which we could use their withdrawal facilities from Bitcoin earnings. So i guess this attacking issue will be limited only to those countries that are against Bitcoin existence.

[Aramazdi]

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!

of course banks do not like bitcoin and even attack bitcoin, banks around the world can go bankrupt in total if bitcoin currencies dominate the world, we see many conveniences offered by cryptocurrency, the process is not complicated there is no barrier between countries, and its secrecy is guaranteed and surely it can't be regulated or controlled by any country, that's what all banks in the world are worried about and of course the bank doesn't want to lose their money tree.

[doodle07]

Bitcoin is a big threat for banks and so thus governments, its a tough competition for them if bitcoin is widely use and for now they do propaganda and negative issues that makes bitcoin as a negative thing, in that case they use media all over the world to brainwash the minds of people. Banks and other governments are preventing the spread of cryptocurrency worldwide.

[saaux]

Because of the currencies field we know that the crypto has not been long since the bank has used the currency. because now the crypto has entered the currency like coins btc, eth, dent, tron, some of which are in cryptocurrency so the basins will be empty. that they will beat the crypto. so there they are wishing that one day they will disappear in the currency field. so another bank makes the bitcoin a partnership. it's like that.

[canej]

Recently, the growing confrontation between traditional financial institutions and crypto-economy has become increasingly evident. Thus, the world's largest banks glorify laudatory odes to the blockade and its opportunities for transforming the financial market, while severely criticizing bitcoin and other digital currencies for their "insecurity," "high-risk," volatility, "excessive anonymity," etc.

[Pattart]

I know the bank is one of those who do not like cryptocurrency like bitcoin, because it's their rivalry when it comes to currency exchange. but I think the banks can not stop the crypto because it's stronger.

First I don't think there is a competition between bitcoin and banks, after all they can work together to accept bitcoin as a deposit
option and withdraw right? and I don't see any bank attacks on bitcoin or cryptocurrency in my country..

[glowing10]

The modern financial system was formed over the centuries, developing new rules, laws and requirements, but with the advent of the crypto currency its stability and the degree of confidence on the part of consumers was somewhat shaken.

They also think that crypto which is very cheap way to transfer the money across globe within no time and if it is used than their banking swift or other facilities which are of higher fees are being charged will be closed down and thus their profits will get reduced.

[Faeton]

Banks will always attack bitcoin and other crypto currency, especially in the period prior to its legalization, because the crypto currency for them is a direct competitor. People turn to using crypto currency and less turn to banks, bankers from this lose their profits.
However vseravno as a result, banks and decentralized crypto currency will be forced to coexist together and banks will have to accept this.

[Gadhoh]

Its just a complete business competition between crypto currencies and local fiats. As banks want fiats values to be up banks do forbid crypto currency to enter into any country. Thus banks approach the concern authority of the respected country to ban or avoid using crypto currency in the country. There are en number of benefits gained out of crypto currency then local currencies. Hence investors turn towards crypto rather than local fiats in the currency market. These are few reasons for banks banning using bitcoin via authorities.

Bitcoin products do not have adequate consumer protection rules. For that reason, if there is a loss, the user cannot file a claim, besides that there is a high risk of price volatility because the value is determined on the expectation of future supply and demand, speculative. Bitcoin technology is also cross border or can be used across countries and continents. This digital currency is not tied to banks or government and allows its users to shop without revealing their identity.

[chickenado]

Banks have different approach when it comes to cryptocurrencies but most of them doesn't like bitcoin as they were kept saying that bitcoin is somewhat a ponzi scheme and can manipulate the price by those big waves, but some country/central banks sees this as an opportunity to lessen the transactions in bank each day.

Yeah absolutely bank will always wanted to manipulate the the market place in a certain countries special in block market, now that  there's a new technology that would threat their unscrupulous system in which their aim is to acquire wealth more, as much ad possible they will make everything to pin down bitcoin and the blockchain.

[DavidNiva]

Especially central banks are getting affected by the rise of cryptocurrency in the world today because many people choosing saving in their bitcoin wallet rather on bank, they rather risk their money on bitcoin than saving on banks because it is more affordable and efficient.

The choice of people to switch to saving money in bitcoin is very reasonable because in bitcoin there are no additional fees at all, we cannot find anything like this in any bank, bitcoin users are not burdened by any country system, in conventional banks which usually take a long time if they want to transact between countries, what if the destination country still does not support the banking system, in bitcoin everything becomes very easy and everything is very safe, which might be a reason for people to switch to saving their money in the form of bitcoin.

[Danilotot]

because banks like the bitcoin do the currency, the only difference between them is their taxpayers' first cryptocurrency. because it has not been fully accepted by other countries. And secondly, this anger has been more invested in crypto than to enter their money into bank accounts. so the banks are so mad at it. in crypto.

[deppil]

I'm sure banks are now trying to play catch up as well - it's pretty clear now that people are finding many banking fees just completely unreasonable.

The tipping point will probably come once banks figure out how to significantly profit without relying on the fees. Only then will they relent to the processing superiority of blockchain tech for banking.

because if bitcoin has been used anywhere, the bank will no longer be needed, and the future will continue to run and bitcoin is increasingly popular, because bitcoin does not involve a third person to transact like a bank.

is it too much to call the bank attack bitcoin? because the proof is that many banks don't really care about bitcoin. and the interests
of both are different? and besides they can also walk alongside because bitcoin is not a place to save money like a bank?

[1NV3ST0NM3]

Why are banks, governments attacking the bitcoin and the crypto currency market is the most debatable topic that we have today. All people have got their point of views and no side is reaady to accept the defeat. These countervailing arguments upheld by the opposing parties sometimes confuse me as to who is right and who is wrong. But all I know is bitcoin has helped me a lot to come out of my financial troubles and I really do feel it is one of the best inventions for the betterment of mankind. So I just now keep away from all these debates and focus on my holdings and diversifying my investment portfolio.

[bryant.coleman]

Fund transfer can be much more effective, faster and cheaper, if it is done through crypto. And this can pose a serious problem for the banks. In case crypto captures the market share, then the major banks may witness a steep fall in their revenues.