Why are banks and governments scared of Bitcoin?

[dekafee79]

So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?

By seeing the bitcoin is so popular and more valuable. It 's the reason why banks scared of bitcoin. The governmen afraid their currency will go down. It is my opinion.

[jacqueline]

they're not scared of bitcoin they might just avoid being victimized because we all known bitcoin as a digital currency
and it is possible to do transactions with out using ID card issued by governments

[Cryptosurg]

So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?

The idea of decentralization scares these people or groups. They don't the idea that bitcoin has no central body controlling it. 

[Cryptosawit]

if I think. maybe many people will be more interested in bitcoin than using government currency because bitcoin value is more promising future .

[Doctor]

So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?

Bitcoin has a great potential in the future. Many investor prefer invest in itcoin than bank. It the reason why banks and the government  scared of bitcoin .

[Abdee]

So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?

banks are not afraid of the presence of bitcoin, in my opinion those who are afraid of bitcoin are the government, they are afraid of a transparent bitcoin system that is free of corruption

[Bruks]

I see, why is Cryptocurrency prohibited in the bank forfeit its value and is also used in scams. So many people have no confidence in bitcoin.

[Variapack]

banks are afraid of bitcoin or crypto currencies, because they know that bitcoin in its value cannot be influenced by government policy, so the bank has no control over crypto's currency movements

[leodiaz]

Obviously they are afraid. Because Bitcoin is a digital currency that cannot be monitored by anyone including by banks and the Government and cannot be controlled by people or groups or even governments and banks. So that's what scared them. Because Bitcoin uses the Blockchain system, which means a decentralized financial system. Many like it and this is dangerous for the Bank and the government. Because they are afraid of Bitcoin replacing fiat and the Bank could go bankrupt and the financial system in a country could be destroyed.