Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Claus on July 01, 2018, 01:20:49 AM
-
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?
-
I think the reason is they lost their profit if the bitcoin price goes down many banks thinks about it because the value of digital currencies are not more trustworthy because of volatility itself.
-
I see the link here for your question. https://www.mirror.co.uk/tech/why-banks-hate-bitcoin-cryptocurrency-11433562
-
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. That lack of central authority is the primary reason governments are afraid of the cryptocurrency.
-
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 fear bitcoin, because they see its potential. Many banks have looked into the blockchain technology and are trying to replicate it...purely because the technology is so powerful and out-does all banks by people preference by far. The only reason bitcoin has not taken over yet, is because of the peoples unawareness of it.
-
the government is not afraid. if according to the news I've read the government is still studying the positive impact and the negative side. for the country and its people. if a Bank with so many people investing in bitcoin is a possibility. the more people choose the bitcoin as their place of investment rather than investing in the Bank
-
They're afraid of it because it removes all their power in the world. Governments and banks control wealth around the world, and can extract small amounts from every person millions of times over and over. Bitcoin and other altcoins threaten that power. I don't think it should completely eliminate banks or fiat currencies or anything like that, you still need to be able to pay to build roads and schools and things like that, of course. But the banking industry should not have the power to basically tell you what you're allowed to do with your own money. Bitcoin is the answer to this, the banking industry needs to be innovative to compete with it, and hopefully their fees and other bullshit will fall in line with cryptocurrency as the years go by.
-
maybe the government is still afraid of bitcoin because the price can not be predicted and tracked. if Banks Maybe they are worried about losing customers.
-
Banks are centralized while bitcoin is decentralized. We can't expect good relation between government and bitcoin. As far as I know banks did not like bitcoin because they does not have profit from it.
-
I believe that their fear is justified, because Bitcoin could replace the existing financial and become digital money. But governments and government institutions continue to study Bitcoin, just the article I shared shows the attitude of European governments towards Bitcoin and cryptocurrencies.
https://www.altcoinstalks.com/index.php?topic=31126.msg152344#msg152344
-
I think governments and banks are in the first place not willing to adopt bitcoin because of its decentralization nature. You know that these two groups want to be in control. Also the price fluctuation of bitcoin is one of the reasons and this one is a good reason. In case bitcoin is adopted to replace fiat currency, inflation will worsen due to the fact that its price is volatile. The prices of items had to be constantly changing to meet the price changes in bitcoin.
-
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?
Because bitcoin is so popular and more valuable. many investors use bitcoin for their invest. It is the reason why the goverment and bank scared of bitcoin.
-
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?
Because The goverment cannot control bitcoin over and the banks afraid they lose their investor. Bitcoin is more profitable than bank.
-
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?
Many investor used bitcoin to invest their money transaction with bitcoin. Bank will lose their investor. It is the reason why the banks scared of bitcoin. Government afraid the bitcoin can be used criminal and also their banks lose investor.It is my opinion.
-
Banks and bitcoin goes in opposite direction. Basically it won't be nice to each other. No good relation to lift up the partnership if possible.
-
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.
-
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
-
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.
-
if I think. maybe many people will be more interested in bitcoin than using government currency because bitcoin value is more promising future .
-
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 .
-
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
-
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.
-
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
-
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.