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Author Topic: [2014-09-29] Banks remain hesitant to join bitcoin movement  (Read 1479 times)
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September 29, 2014, 06:03:02 AM
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http://www.paymentssource.com/news/risk-management/banks-remain-hesitant-to-join-the-bitcoin-movement-3019262-1.html

tl;dr too risky
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September 29, 2014, 06:48:22 AM
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I don't think they need to join. BTC was designed as alternative to banking system. If the banks will join, it will become over-regulated.

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September 29, 2014, 09:36:42 AM
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Of course they don't want to join; why would they? Bitcoin is a direct threat to them so they're hardly going to promote it to the masses to potentially quicken their downfal.

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September 29, 2014, 09:39:03 AM
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Bitcoin isn't a threat to noone. Banks can make huge money if they start using bitcoin. And eventually they 'll do.
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September 29, 2014, 11:12:40 AM
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Banks will joins as soon as they can earn money with them
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September 29, 2014, 02:10:50 PM
 #6

Bitcoin isn't a threat to noone. Banks can make huge money if they start using bitcoin. And eventually they 'll do.


Why would they adopt something they could never control? Why would they adopt something that gives you the control to be your own bank?
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September 29, 2014, 02:17:59 PM
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Banks, that is.                Wink

https://www.fdic.gov/bank/historical/bank/
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September 29, 2014, 03:11:41 PM
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banks already joined and more will join when they have to

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September 29, 2014, 03:41:06 PM
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Of course they don't want to join; why would they? Bitcoin is a direct threat to them so they're hardly going to promote it to the masses to potentially quicken their downfal.

Right or wrong, the banks do not see Bitcoin as a competitive threat. All they care about is reducing their risk of being investigated for money laundering.

At this point, this is a conflict between Banks and Bitcoin on one side and government (law enforcement) on the other.

The fact that money laundering is a crime is the anti-liberty ("minority report") problem here.

Whenever the government cannot prove the primary crime (that one party has criminally harmed another), it cages the party it doesn't like for phantom secondary crimes such as money laundering, conspiracy or tax evasion. 
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September 29, 2014, 03:50:25 PM
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Bitcoin isn't a threat to noone. Banks can make huge money if they start using bitcoin. And eventually they 'll do.


Why would they adopt something they could never control? Why would they adopt something that gives you the control to be your own bank?

For the same reasons they use the internet although they can't control it... Bitcoin is the safest, fastest and cheapest worldwide payment network...
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September 30, 2014, 02:03:39 AM
 #11

Of course they don't want to join; why would they? Bitcoin is a direct threat to them so they're hardly going to promote it to the masses to potentially quicken their downfal.

Right or wrong, the banks do not see Bitcoin as a competitive threat. All they care about is reducing their risk of being investigated for money laundering.

At this point, this is a conflict between Banks and Bitcoin on one side and government (law enforcement) on the other.

The fact that money laundering is a crime is the anti-liberty ("minority report") problem here.

Whenever the government cannot prove the primary crime (that one party has criminally harmed another), it cages the party it doesn't like for phantom secondary crimes such as money laundering, conspiracy or tax evasion. 
totally agree. Banks have stable business and cash flow, don't want anything else to impact on their business. If they join bitcoin, they will be sure that all risks will be gotten rid off. 


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