Jimrch
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May 22, 2018, 01:46:36 AM |
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Most of the banks around the world think of bitcoin industry as a threat for them with regards on financial matter i think. If cryptocurrency system was introduced to the citizens by the government itself and gets boom, financial institutes like banks might get much less customers which may gradually lessen their transactions and might end up for cryptcurrency to replace them which is hopefully not.
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ngano ba
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May 22, 2018, 01:50:12 AM |
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Banks hate cryptocurrencies because ,the banks projected that this cryptos will be treat to their financial business , and this cryptocurrencies will be a big competetor to their investment business, especially that banks offer low interest while crypto currency can gain more profits than banks.
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Crypto26
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May 22, 2018, 01:50:16 AM |
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cryptocurrency will unbanked the bank. the bank will be of no use when crypto eradicated in the world and people will start patronizing it.
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rabs
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May 22, 2018, 01:52:03 AM |
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Actually cryptocurrency is a great technology of this era it made life much more easier and bring big revolution in financial activities.Cryptocurrency is an independent and no need of third party to make transaction you can make globally transaction with safety and quickly.Bank have threat that banks will loose value because bank transactions are too late and hurdle of paper work and people loosing interest in traditional banking system.
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jops
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May 22, 2018, 02:04:17 AM |
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I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?
The reason why many banks hate cryptocurrency and banned it rather than to use it because they see it us competitor for them. Now a days the population of bitcoin is spreading around the world. And the transaction of bitcoin is in demand. People choose bitcoin because it is easy to transact without a lot of papers to be presented. Unlike banks in order to make the transaction success you must present a lot of papers. |
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djmixen
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May 22, 2018, 02:22:30 AM |
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I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?
Well, i think you have a point if they adapt bitcoin. But they have many reason for sure why they dont want bitcoin even as partnership, maybe because they will affect the investors that the bank earn more compare on investing on bitcoin. Not all people are aware about bitcoin. |
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iMark
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May 22, 2018, 02:23:51 AM |
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Currently, bitcoin or crypto related platfrom is handling small transactions like bill payments, money transfer and some is small purchases for groceries and others. This just shows that cryptocurrency/bitcoin will soon dominate what the banking industry is currently doing. Time will come that banking industry need to adjust and work in harmony with the current technology in order for them to survive.
Right.Instead of seeing bitcoin as a competitor for banks,why not see them as a helper to make bank's transactions become faster and more efficient for the people?Yes the fear of banks for bitcoin is already there but i don't think the government will permit bitcoin to replace banks even most of the people see bitcoin as more convenient in making transactions than still going to a bank to transact with limited money to withraw. Because bitcoin has better facilities than banks, send money anywhere with the same fee, simple, practical, without any limit on the amount of money and that is different from the bank system that has a high fee, there is a limit on the number of shipments, and certainly a bit complicated. bitcoin has more potential so the bank does not like bitcoin, let alone bitcoin has decentralized properties |
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KrishaBitcoin
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W12 – Blockchain protocol
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May 22, 2018, 02:31:48 AM |
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I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?
The truth is not all banks are against Bitcoin meaning they have different approach regarding Bitcoin existence.There are few banks that really against Bitcoin but they are only few compare to the banks that supported Bitcoin like here in our country in which the major banks are in partnership with our local exchanges which is fully authorized by our central bank that if we convert Bitcoin to fiat we could use the banks facilities to withdraw and cash out our converted fiat. This is even due Bitcoin is not legal but not ban here in our country. |
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jerix
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May 22, 2018, 02:32:05 AM |
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I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?
I also sometimes think like this because I do not understand why so many hate Bitcoin. Starting from the Bank, the Government, even people like us. What's wrong with Bitcoin? Not that Bitcoin has helped the lives of its users? This advanced and great technology is hated by many people. I really do not understand the minds of those who hate Bitcoin. Hopefully, they soon realize that Bitcoin is very important for the future. |
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quirman77
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May 22, 2018, 03:01:19 AM |
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I think this is because the bank does not have a system to control or regulate the virtual currency is that why the banks are still prohibited from using it.
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15putriutami
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May 22, 2018, 03:03:46 AM |
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Because banks do not want to compete with crypto currency. Because they hate crypto currency because their business opportunities are getting smaller.
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Cj29
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May 22, 2018, 03:07:35 AM |
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Bank hate cryptocurrency. It because cryptocurrency is a treat on thier bussiness. Because if you see bank interest is so tiny. While if you saving in crypto currency there are big chances it will double or triple.
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ngacengan
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May 22, 2018, 03:16:09 AM |
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there are so many banks that do not like bitcoin because I see bitcoin has the advantage and has transparent transactions that make the customers in the bank switch to bitcoin and make investments and trading bitcoin altcoin, that's what makes banks very hate and fear with bitcoin.
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cosmo1
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May 22, 2018, 03:20:49 AM |
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I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?
Cryptocurrency are competitor to the banks.If cryptocurrency become legal banks will be closed and they will face a huge loss. |
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thomaseco
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May 22, 2018, 03:22:08 AM |
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Okay it’s a good question. Banks has a valid reason to hate cryptocurrency because cryptocurrency is the competitor of the banks. People nowadays keep their moneys in coins instead of bank.
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Viranz
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May 22, 2018, 03:42:06 AM |
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Banks do not want to be replaced by a crypto currency, that is reason enough to explain why banks hate bitcoin.
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manismanja
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May 22, 2018, 05:08:22 AM |
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probably because bitcoin has a very good development and can make people become rich so as to get their customers out and switch to bitcoin, so that makes the bank fears seem to be from that factor.
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Pan Troglodytes
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May 22, 2018, 05:17:48 AM |
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probably because bitcoin has a very good development and can make people become rich so as to get their customers out and switch to bitcoin, so that makes the bank fears seem to be from that factor.
No, majority of bank profits don't even come from retail customers. Banks do so many other thinks: they credit companies and individuals, they issue bonds, they even issue government bonds. They couldn't care less if the average Joe gets wealthy or not. I think the banks are just confused with cryptocurrency and for a time being their stance is "wait and see". Some banks are more explorative and they do their own research into crypto. |
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Tatars kun
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May 22, 2018, 05:20:26 AM |
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Decentralised cryptocurrencies such as Bitcoin, which work using blockchain technology, allow users to trade directly with each other without the need for a middleman. In today’s modern day commerce a bank usually takes on the role of the middleman.
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bling-bling
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May 22, 2018, 05:27:33 AM |
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Because banks are threatened by the cryptocurrency system wherein its features may suggest that we would no longer need banks in the future. If we will think about it, there are a lot of factors wherein we could actually consider not using banks anymore since we can store our tokens/money on line via crypto wallets. Plus it is more convenient compared to banks. So banks are rallying against crypto due to this reason.
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