Why many banks hate cryptocurrency ?

[jrrsparkles]

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 ?

may indeed be many banks around the world bitcoin transactions because they are worried about bitcoin transactions so that transactions through banks will be replaced. But many banks around the world use the blockchain system

If the bitcoin will be adopted my more people then the bank will lose their business that is the only reason they hate bitcoin.But still we are not using bitcoin for the payment mode so still the banks are not in danger.But banks are anyone can bam the bitcoin but many banks are the backbone of government so they are also supporting banks and imposing heavy taxes.

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[Dmtriiltc]

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 ?

Soon every banking will be blockchain based, we just have to wait a little bit, all banks are rather conservative institutes

[lesya-ya]

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.

[icecream sandwich]

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 ?

Maybe they are threatened into the cryptocurrency because they are the new thing that the banks and the government cannot controll so if they will be successful getting into the people take their side of course rhe banks will lead into bankruptcy and that is the fear of all the banks that is ehy they are hating the bitcoins because the cryptocurrency can put an end into their career. But of course not all banks are hating there are banks that are supporting much more and that is a good thing.

[Lexurdania]

Bitcoin hated by banks and central banks because they can not control on bitcoin supply. As we know, central banks become so powerfull because they control money supply and with bitcoin existance, they feel disrupted their bussiness

[Corsicoin]

Most of the banks hate Bitcoin because people ask them investissement with the same rate ^^
Of course it's impossible. So they're happy when BTC falls and hate it when it rises to moon ^^

[HukoJla]

All due to the decintralization of the blockchain system. When today's ICO companies will create programs for the easy purchase and use of crypto currency, banks will only have to accept decentralization or go to the bottom with the fiat system.

[Ch01ce0N3]

Maybe because if people use bitcoin, the bank will not get any more customers. So that the benefits of the customer to be reduced. In fact, I think banks should be able to embrace bitcoin and mengperasikannya on their financial system. That way, both parties, both banks and customers alike have a big profit.

[barry.evans]

Maybe because if people use bitcoin, the bank will not get any more customers. So that the benefits of the customer to be reduced. In fact, I think banks should be able to embrace bitcoin and mengperasikannya on their financial system. That way, both parties, both banks and customers alike have a big profit.

I agree with previous comment. If we use the cryptocurrenices, nobody will use banks and there won't be demand for their services.

[Geemy]

Banks hate Betquin for its speed of conversion and commissioning, as well as lack of knowledge of the source and increasing people's trust in them. Banks fear that they will not work in the future.

[tayecrypto]

In my own opinion ,I think banks hate cryptocurrency because Instead people tend to deposit their money to banks as an asset, some people are making wiser move to invest in crypto's to multiply its money for just a short period  of time, It is already proven and tested by majority but not all are successful, In terms of transactions, bitcoins is much faster to process rather than bank transaction, In just a click, transaction takes place rapidly.

[dinah29]

There are lots of banks nowadays really hate Bitcoin, simply because they cannot gain interest from the people who keeps money to the Bank. Bitcoin users have the right to do whatever they want to their money with an easy transactions. Banks owners have a big advantage to earn more money from the people.

[shakil77]

banks hate cryptocurrency investors because they deposit large sums of money in the bank and then wire it out to a wallet or brokerage that will convert it to Bitcoin.
most common forms of money laundering includes sending wires around the world in an attempt to wash the cash or hide its origin. Banks don’t want to be party to any illegal activity, so they don’t like a lot of INO transfers.

[DASA NYA]

Electronic money is worrying to the banks today, many of which have banned the virtual currency entirely for fear of affecting the economy of the country.

[DimensionsOfHell]

Because this new world has become so large that it can not be ignored. And he began to accumulate real resources.

[42K]

This is all about hypocrisy my friend. They ban it and at the end they themselves(workers) try and buy it and HODL. Also they are afraid of the decentralized system because they wont their tax from it.

[mrben77]

The true answer to the question, why banks do not like crypto currency, perhaps is that they feel threatened. The growth of the crypto-currency market surpassed all expectations, and although it is still very young, it has the potential to shake the aging system.

[JiuMiBe]

Needless to say, it also knows how this affects the banks. At present, banks are competing each penny of money, up to the promotion to attract depositors. But now the virtual currency can help the sender spend only a few cents, can be traded anywhere, must be remittance companies "do not like this."

[electronus]

Such steps look like the desire to own these resources, to control their distribution, but reluctance to understand the nature of new things and take the risk. But it is impossible - to create something new, a new value that has not yet existed, you need to take risks. This is the law. Either someone just wants to hedge just in case.

[OnFireDragon]

My friend and co-members of this forum, not all banks hate cryptocurrency, we must not generalize it and involved all banks in general. Some banks do recognize bitcoin as a friendly competition, for the fact that technology of what bitcoin is using, they might also used it in their systems.