Banks do not want bitcoin to become popular

[TribalBob]

it's no longer a secret if the bank refuses bitcoin to become popular, there will always be negative news about this I think,
but bitcoin holders will always believe in bitcoin even though negative news always comes, actually it is the potential and benefits of bitcoin that indirectly prevent the power and opportunities of banks in institutions over people's funds, right? bitcoin gives freedom in thinking patterns of financial problems without being regulated by anyone

[Minecache]

Banks do not care about Bitcoin, because Bitcoin have limited popularity, and secondly transfer time and fees. Altcoins now are much faster and with lower fees.

Now I wonder, if banks do not care about Bitcoin, why are banks releasing blogs and statement that tackles Bitcoin being a negative thing?  Every event and movement of Bitcoin, the financial institution releases negative statements that discourage people to participate in Bitcoin adoption.  Now if banks do not care about Bitcoin why do they need to do that length in order to demerit Bitcoin?

Btw, Altcoins may be faster and with lower fees but they compromised security.  I'd rather have an ok speed of transaction but have high security.

They care about Bitcoin, because it is the leading cryptocurrency in the market and even one which have influence over the price of other assets in the market.
Banks and lobbyist won't waste their time and money targeting a random altcoin instead Bitcoin. It is not about transaction fees, or efficiency or block times.

They may have bad intentions but they are not stupid when comes to their objectives.

They are interested in bitcoin not because it is the leading cryptocurrency or affecting the rest of the market but simply because bitcoin is decentralized, if people use bitcoin, they will leave the bank. The bank is government, so the only thing they care about is bitcoin, not crypto, rest of the cryptocurrencies are centralized, so they are under their control. Bitcoin is no longer affected by news like this since we are all so familiar with it, and it is not new news.

[LDL]

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin.

The banking system will not fully recognize such a complex investment in Bitcoin.  Because Bitcoin works against the entire banking system.  Moreover, another issue is that banks cannot control the complex problem of high price declines in Bitcoin.  Moreover, the banking authorities cannot blame the government entirely if there is a major price fall in the banking sector.  Moreover, if the government and banking system could control the complete control system of bitcoin, then the bank and government would take responsibility for bitcoin.  Banks and governments don't want to accept Bitcoin easily because the whole system of Bitcoin is not controlled by governments and banks.  We already know about the Salvadoran government's investment in bitcoins and their falling price.  No country's government would want to invest so much in Bitcoin with so much risk.

[gabbie2010]

Banks do not care about Bitcoin, because Bitcoin have limited popularity, and secondly transfer time and fees. Altcoins now are much faster and with lower fees.

Banks are very interested in bitcoin, I believe they are watching bitcoin daily and they hope bitcoin will drop more and maybe die so that they are no longer a threat to them. Bitcoin is threatening their position for users but they have no way to stop bitcoin, the only thing they can do is spread Fuds to keep people away from bitcoin.

The Fuds spread by the banks is making Bitcoin to be more popular and it's very obvious that Bitcoin has come to stay no amount of negative Fuds and propaganda by those banks will diminish it, even though the market had been down for a long period (bearish run) however the price can't dump to $5000 as being speculated by the bank, many individuals and institutions had started adopting Bitcoin as a store of value thus an alternative to fiat savings consequently this is one of the main threat to the banking system, personally I prefers all my assets to exchanged to Bitcoin and kept in my wallet than to save it as fiat in my bank.

[makvo]

Just like hungry person wants food
Bank would like not to be... bankrupt.

Yes.
If only media outlets were not owned by their representative governments.

Tell us something we don't know!

[slaman29]

it's no longer a secret if the bank refuses bitcoin to become popular, there will always be negative news about this I think,
but bitcoin holders will always believe in bitcoin even though negative news always comes, actually it is the potential and benefits of bitcoin that indirectly prevent the power and opportunities of banks in institutions over people's funds, right? bitcoin gives freedom in thinking patterns of financial problems without being regulated by anyone

I think people are giving banks too much credit. Banks will do anything to make money, and if they finally realize that Bitcoin cannot be stopped, their policy will be "if you can't beat them, join them". The proof is already out there. We have some smaller banks already become crypto abled. We have other banks allowing crypto payments. We even have banks now being custodians for Bitcoin including some form of deposit protection, under national bank license in the US.

If collecting NFTs becomes so popular one day banks will also store and issue NFTs. Believe me!

[Oneandpure]

it's no longer a secret if the bank refuses bitcoin to become popular, there will always be negative news about this I think,
but bitcoin holders will always believe in bitcoin even though negative news always comes, actually it is the potential and benefits of bitcoin that indirectly prevent the power and opportunities of banks in institutions over people's funds, right? bitcoin gives freedom in thinking patterns of financial problems without being regulated by anyone

Bank scared when bitcoin becoming popular where all people interested with hold or saving their money trough in Bitcoin assets than use Bank as their placed for money saving. I don't think with Bank quit silent when looking how Bitcoin become popular day by day and try several way how to make fud and bad news will impact many people scared with Bitcoin price drop before saving all their money in the bank

Right now many people have been smart, not any beneficial when saving our money in the bank without increase up yet, different when holding in Bitcoin assets, when price going up many people get much profit and have freedom for cashing out without need regulation from Bank with limited withdrawing in daily day.

[Party24*7]

Bank scared when bitcoin becoming popular where all people interested with hold or saving their money trough in Bitcoin assets than use Bank as their placed for money saving. I don't think with Bank quit silent when looking how Bitcoin become popular day by day and try several way how to make fud and bad news will impact many people scared with Bitcoin price drop before saving all their money in the bank

Right now many people have been smart, not any beneficial when saving our money in the bank without increase up yet, different when holding in Bitcoin assets, when price going up many people get much profit and have freedom for cashing out without need regulation from Bank with limited withdrawing in daily day.

I agree with you that holding bitcoins is much more profitable than depositing money in a bank. But unlimited withdrawals are not quite right as we will eventually have to exchange bitcoins for fiat money if we want to use it for our daily spending. When bitcoin becomes world currency or means of payment, then we can withdraw unlimited with bitcoin.

[qwertyup23]

Tell us something we don't know!

It's an well established truth that banks don't like bitcoin or any other cryptocurrencies. Because cryptocurrency system has the power to directly challenge bank's dominance. So it's no wonder that banks do not like it in any shape or form.

Warren Buffet, Jemie Dimon and many other central banks have always raised their voice against cryptocurrency and it will continue to happen! We just need to ignore such things!

This is true- banks want their clients to keep and store their resources inside their institutions for their own profit/gain. While there may be some offers of interest rates and returns, some people are now becoming more aware of the existence of cryptocurrencies and the way it can change and alter the usage of banks.

But in all honesty, cryptocurrency and banks can co-exist with each other. They do not have to be so against to the point that they will make each other obsolete- maximize each usage and choose the most convenient method in a given circumstance.

[Jatiluhung]

has become commonplace. all that is centralized will vilify that which is not. and Banks is one of them. Fud news continues to spread throughout the bear market. but believe me it's even possible that this news was deliberately spread by those who actually deliberately wanted the price of bitcoin to fall. so they can buy more bitcoin from the bottom price. it doesn't even rule out the possibility that the government is busy shopping for bitcoin now secretly.

[Flexystar]

Shows me good picture of how terrified the CEO's and founders of banks are at this very movement. Bitcoin does not need any sort of publicity anyways because from making brighter bitcoin hub cities to using bitcoin for donations at various causes (floods, wars, fire etc.) it has already proven its way to the hearts of people. The good thing is, millionaires also know banks are using their money to to do their business if someday they decided not to save their money into the banks then dam they will have nothing but empty pockets. On the other hand they know very well if they put everything into bitcoin then its gonna stay there forever, under their own control and nobody's gonna use it except the key holders. So these kind of news are really child's play. THey mean nothing.

[Iroh]

Yes, you are right the banks do not want to become papular because if all the people start putting their investments in crypto wallets and crypto exchanges they will lose their customers who save money in their banks.

No matter how they try to spin it, banks are in business also. And without customer funds, they’re just an empty building with a vault in it. Banks need customer funds to survive and stay afloat. They do business and also invest, all with customer funds and assets.
With bitcoin, it entails securing and holding our funds ourselves and banks can’t have none of that. Why hold your funds yourself when you could give banks to hold them at a price?
It’s great to be the sole custodian of your assets and investments and that is why you should never have your funds on any exchange.

[nullama]

It's no wonder that Central Banks, and therefore governments, don't want Bitcoin to succeed.

With fiat currency they have absolute control of the economy. With Bitcoin, they no longer are able to control money.

There will always be fiat currencies, but Bitcoin will continue to exist as well.

Just like we have cash and cards, in the future we will also be able to pay with Bitcoin as a third method of payment.

[silbertlee]

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 

https://i.imgur.com/06rcklo.jpg

There is no doubt about it. Bitcoin itself is a decentralized digital currency that can get rid of banks and conduct peer-to-peer transactions directly. If I take your job away, aren't you in a hurry? The reason why the bank said this is nothing more than one purpose, hoping that Bitcoin will become history. Now that such a point of view is published to create panic and make everyone return to the newcomers to the bank, the business volume will naturally grow rapidly. This is also the struggle between traditional finance and decentralized finance.

[Hispo]

-snip-

-snip-

-snip-

They are interested in bitcoin not because it is the leading cryptocurrency or affecting the rest of the market but simply because bitcoin is decentralized, if people use bitcoin, they will leave the bank.

You are implying Bitcoin is the only decentralized cryptocurrency, which depending whom you ask some people will agree or disagree. I am sure I have seem some ETH users claiming the Merge was not a big deal for the decentralization of their chain.

I am sure, however, Bitcoin remains decentralized and that is what matters for the purpose of this thread.

But I just assume there are other projects with a correct software implementation for people to have proper power over their alt-coins, but unfortunately their chain lacks enough harsh-power for it to remain truly safe from attacks.

[Tony116]

It's no wonder that Central Banks, and therefore governments, don't want Bitcoin to succeed.

With fiat currency they have absolute control of the economy. With Bitcoin, they no longer are able to control money.

There will always be fiat currencies, but Bitcoin will continue to exist as well.

Just like we have cash and cards, in the future we will also be able to pay with Bitcoin as a third method of payment.

That is also what I want with bitcoin, bitcoin cannot wholly replace fiat or banking, but it will become the 3rd payment method in the world next to fiat. Bitcoin does not need to be the only currency or to completely replace the banking system, with that mindset only making the battle between banks and bitcoin more serious. In the long run, I think it will not benefit bitcoin. We can't go against the government, there won't be a coup, and that's not the way to bring peace to the world.

[Tommiewill]

Although cryptocurrencies are becoming more and more popular, banks are not very accepting of cryptocurrencies. Banks are not very willing to take on the risks of cryptocurrencies.
But when the cryptocurrency economy threatens banks, the country may issue some "laws and regulations" to protect its economy.

[Mauser]

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 

Looks like Standard Chartered banks is just trying to get in on the Bitcoin bashing we have seen over the last few weeks. The FTX disaster dealt a big blow to the crypto community and resulted in a loss of confidence in the crypto markets. It's going to take weeks for the bitcoin price to recover again. But as long as we are in the 16-17k USD range I would not worry about any such bad news from banks. It's clear that banks feel threatened from bitcoins because they will take away a large part of their business. Dealing in multiple currency is a lucrative business for banks as they can collect a lot of fees when buying and selling the same currencies over and over again. Before cryptos the consumer had no real alternative, we could only consider switching to a different who would charge is the exact same fees. Now with cryptos we can finally be independent of banks and that is was making them afraid. When it comes to forecasting the bitcoin price I would not be trusting any bank, they have their own agenda.      

[koang]

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 

They are just trying to get weak hands to sell off their portfolio and they are going to buy BTC. The rich want to be richer. We know the gimmicks. lol
Whenever you hear something like this, then start accumulating.
Everything else is the noise and normal narrative. Ignore the noise. Now go out and enjoy your life.

[Lida93]

From the inception of bitcoin Banks were never friendly with it particularly with it decentralized system and control it rather give to the owner of the coin's as against how the banking system operates and this obviously has made them the owners of banks are on daily basis declining in profit as bitcoin is gaining more and more acceptance by many for financial transactions and investment. In my home country the banks nocturnally aided in misinforming the government about cryptocurrency which led to it's ban for many years now, but there are rumours that the government are planning of making some adjustments to the ban.
The banks are always there to credit statements and predictions to deter people from further investing in bitcoin and other cryptocurrencies, but for those that understands very well about the system this statement won't be taken into account cause the bear market won't be here forever.