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Author Topic: Why Banks are attacking Bitcoin ?  (Read 1967 times)
EEEian
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February 23, 2018, 08:12:48 PM
 #61

Bitcoin itself is an attack on banking institutions and governments.Many institutions are adapting, but many more are fighting back..It's being attacked by every single entity who has the ability and the motive,so yes.People don't factor in how strong bitcoin is when they complain about it or consider its value.
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February 23, 2018, 11:23:16 PM
 #62

Big Banks want to destroy BitCoin before it destroys them. Bitcoin has real 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. Unfortunately, we can't see the future.
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February 24, 2018, 09:11:12 AM
 #63

Banks attacking the bitcoin because they are afraid to lose their depositors. Instead of saving in their bank accounts people prepared to save in their bitcoin wallet because it has a greater changes to earn extra profit if the value of bitcoin gets high. Also instead of using online banking for payments and exchange transaction the people would likely use bitcoin because it generates low fees and penalties.
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February 24, 2018, 03:00:44 PM
 #64

The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.

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February 26, 2018, 03:19:18 AM
 #65

A lot of people has invested or bought bitcoins including those who uses banks for their savings. Bitcoin is becoming the people's currency because many are preferred to invest in it than in the banks. It has also the potential to become a new currency that can possibly replace any national currency in the future and it can't even controlled by governments and big banks. This is the reason why banks want to limit the cryptocurrency potential because they are really threatened by its popularity.

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February 26, 2018, 06:54:29 AM
 #66

The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.

Not only because of that now Bitcoin and other cryptocurrency are not running themselves and they are not making the commission on those. Bitcoin is the decentralized platform where people can transfer the money without any mediator like banks. This makes more frustrating about it.

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February 26, 2018, 07:10:02 AM
 #67

The main reason (why banks don't like btc and other cryptos) is decentralization, each person owns a personal asset, fully managing its assets. Banks in this case remain on the sidelines (not at the feeder). So they take measures to stay afloat.

They are really protecting their businesses cause literally blockchain technology can beat them in terms of transacting payments. Though some banks are now adopting cryptocurrency I still believe that they are afraid to be left out. Bitcoin is amazing that can really change our financial system in the future.

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February 26, 2018, 12:59:50 PM
 #68

Obviously banks are scared with Bitcoin. I think bank is getting obsolete in transactions. Aside from that bitcoin tarnsaction is very fast and banks charge fees everytime.  Bitcoin transacs directly to the person. No need for middle man which is the banks so i guess this is the reason bank keeps attacking bitcoin.
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February 26, 2018, 03:37:02 PM
 #69

Local fiat's value is crashed and banks business is ruined down due to crypto currencies especially Bitcoin. The reason every government is against or hesitating to accept bitcoin is bitcoin dominates local currencies. Crypto currencies being on top in the currency market truly affects the growth of banks.  People invest in crypto coins rather than fiat's,  thus ocal currencies value is thrown to the air and banks business is gone.

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Proton2233
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February 27, 2018, 12:15:14 AM
 #70

Banks cannot really compete with cryptocurrency. But they have Fiat. Each of us cannot now refuse to use Fiat. So we are vulnerable. But as soon as it becomes possible to use cryptocurrency to buy goods directly, the world will change. Bankers have been parasitic on us for a long time. Now it's our turn to watch them go bankrupt. I bought a ticket in the front row.
SmokerFace
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February 27, 2018, 01:17:24 AM
 #71

Banks spreading fake news about bitcoins and other crypto because it allows people to trade directly with each other and no need a middleman like banks so banks will not get any interests or charges from it.
They want to destroy bitcoin before it destroy them because bitcoin affects alot negative into banks, Big governments and Banks will lose seigniorage income means the advantages to derived from printing money and losing the ability to handle money that flows between banks and economy.
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February 27, 2018, 01:31:57 AM
 #72

The banking industry profits from their greedy schemes and they make billions very easy with it. And now that bitcoin is going to take that away, it's just their natural reaction to feel its threat and put it down.

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February 27, 2018, 03:09:40 PM
 #73

It's again the business competition I would say.  Fiat's Vs Crypto currencies. As crypto started ruling the currency market, revenue earned from fiat's are falling back and loosing it's value amongst investors.

Banks are the backbone of a government. To sustain them economically, bank forces the government to take action against crypto entering into their country.  Everything is on at business motivation.

andreijoaquin
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February 27, 2018, 05:13:18 PM
 #74

Time will come banks are no longer needed because everything they offer can be found in bitcoin with additional features only bitcoin can offer. Banks become worthless because of this block chain technology, people can have control over their money and the return in investment is higher with bitcoin.

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bryan21
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February 28, 2018, 10:06:58 AM
 #75

A lot of people has invested or bought bitcoins including those who uses banks for their savings. Bitcoin is becoming the people's currency because many are preferred to invest in it than in the banks. It has also the potential to become a new currency that can possibly replace any national currency in the future and it can't even controlled by governments and big banks. This is the reason why banks want to limit the cryptocurrency potential because they are really threatened by its popularity.

I think bitcoin maybe not replace any national currency, because bitcoin like virtual money but have investment in there. So people more do investment in bitcoin because they know bitcoin more profitable more than gold. Or somepeople already have experience do investment before in bitcoin and get profit, and they buy more bitcoin again to investment for their future.

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tung06081989
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February 28, 2018, 10:47:16 AM
 #76

because BTC is leader of crypto market,when crypto market development it will share market with crypto,and decrease profit  of bank
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February 28, 2018, 10:59:15 AM
 #77

Banks lose their customers. They can't compete with cryptocurrency. But the worst part is that governments are allies of banks. Therefore, we see that the conditions for the exchange of cryptocurrencies for Fiat are constantly complicated and additional restrictions are introduced.
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February 28, 2018, 12:17:03 PM
 #78

Banks lose their customers. They can't compete with cryptocurrency. But the worst part is that governments are allies of banks. Therefore, we see that the conditions for the exchange of cryptocurrencies for Fiat are constantly complicated and additional restrictions are introduced.
yes,government link bank,they control bank and support bank,if crypto development goverment can't control curency
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March 01, 2018, 01:54:12 PM
 #79

I don't think it is under attack.Many banks/governments are still in the state of evaluation.Their main concern atm is crypto as an instrument for money laundering and tax evasion.So in 2018 we will see more regulations for fiat-crypto gateways (exchanges and the like) to prevent anonymity.I don't think,crypto is seen as a real thread right now,but this may change with growing adoption.
I think it's very simple. Banks are afraid of competition from cryptocurrencies. They will never be able to coexist peacefully. People have no confidence in banks and therefore cryptocurrencies very quickly capture new users. The entire capitalization of the cryptocurrencies is lost revenue for banks. This is only the beginning. The problems of the banks will increase. Banks with cryptocurrencies play on the same field but cryptocurrencies play better.
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March 01, 2018, 03:07:06 PM
 #80


The fact is that banks are part of the public management system. National banks regulate the issue and turnover of national currency and bitcoin is an alternative to the banking structure and at the same time it is not under the control of the state!

This is the reason for the attacks

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