Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: bdsharminsoltana on November 08, 2018, 08:14:44 PM
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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?
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They hate cryptocurrency because if fiat will be die in the future and if people will change their money fiat to cryptocurrencies we dont need banks anymore. We can control our money and we can use our money with decentralised aplications.. We will not use banks in the future if we switch fiat to cryptocurrencies. They can not control cryptocurrencies. Goverments and banks hates crypto because of that .
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Cryptocurrencies have inside the system to secure own value that is the role engaged by banks for fiat currency.
So the avversity is clear!
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Here is a nice article about your question.
https://www.ccn.com/innosilicon-a2-terminator-scrypt-asics-first-28nm-chips-litecoin-dogecoin-mining/
"Bitcoin is a decentralized cryptocurrency, not in the control of banks, and people are wondering why banks hate Bitcoin. "
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I've discussed this, banks actually don't hate crypto, if they hate crypto they won't adopt blockchain, crypto technology, and blockchain can't be separated, in the near future, I'm sure the bank will do it.
in fact, banks can adjust prices from crypto, if prices change, they can make changes to the rules they have.
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its because cryptocurrency will replace banks in future, The fiat money will disappear. and also they can't corrupt and get taxes for the customer
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Because the Bank and Cryptocurrency have different principles and different technologies used and the purpose of Cryptocurrency is very painful for banks. Banks still use the Centralized system while Crypto uses the Blockchain as its technology. Therefore the Bank really hates it, especially Bitcoin, because its main derivative is to make Crypto especially Bitcoin as a digital currency that replaces fiat currencies, so if this happens. then not a few banks are bankrupt.
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Because the main purpose of Cryptocurrency is to make crypto as digital money used in everyday life and automatically fiat money will be defeated. Because the Bank uses fiat money as a transaction tool, it is clear, why Banks really hate Crypto especially Bitcoin because their goal is to defeat fiat money and replace Bitcoin digital money.
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Simply because it is decentralized, I do not think there are other reasons besides that one. But I also found out that there are banks that are also friendly with cryptocurrencies or at least with blockchain technology.
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I think most banks feel threatened by cryptocurrency, If many people should keep their money in crypto, it may left the bank with almost nothing, so they are afraid that the reason.
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Many people are now switching to the use of cryptocurrency, and therefore turn less to banks. Bankers lose part of their profits. Of course, they won't like it. However, after the states legalize cryptocurrency, banks will have to coexist with cryptocurrency and provide certain services in it. Cryptocurrency, non-cash money and the usual national currency will continue to run parallel with each other in the future and no one will replace anyone.
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They hate cryptocurrency because if fiat will be die in the future and if people will change their money fiat to cryptocurrencies we dont need banks anymore. We can control our money and we can use our money with decentralised aplications.. We will not use banks in the future if we switch fiat to cryptocurrencies. They can not control cryptocurrencies.
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Why shouldn't they. Cryptocurrency is the first the biggest potential thread for them . They are against free trade which but blockchain and Cryptocurrencies allows you to do it without any doubts . Also central banks are very annoyed with the money that , they cant track and trace .
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They hate cryprocurrency just because its getting people interest and finally if the government implement it, its will disrupt the banking system at all. No much profits for them
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Because Cryptocurrency is digital money. Crypto's main goal is to replace real money. So this is what causes banks to hate Crypto because if Kripto continues to develop and there are many enthusiasts, then the Bank will be eliminated and many banks in the world will go bankrupt because there is no fiat money to be processed.
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Some crypto experts feel that the London Bank can lose its iconic status as a global financial center if banks cannot manage to keep up with the current flow of cryptocurrency in the city. They claimed that this main barrier was at the foot of the banking system, especially the dominance of the big banks in London and their reluctance to embrace cryptocurrency.
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I think the presence of crypto as an online payment system makes banks hate crypto, there is no third party and is really managed by someone who wants to make transactions, faster and safer.
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Cryptocurrency can surpass all the banks with one flip. It comes with the ability to eliminate the middle man at all transactions between individuals, which can be re-phrased as cryptocurrency can eliminate banks easily. They both are opposites of eachother.
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Not all banks hate bitcoin.
Some love bitcoin but because of volatile reason they got afraid.
It is not easy to earn money for blood and body requires in order to have it.
Banks knows that they must maintain and secure the money of their investors.
Probably banks and not yet ready to mingle with crypto.
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crypto's presence as an online payment system makes banks hate crypto, no third party and really managed by someone who wants to make transactions, faster and safer.
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Banks detest digital currency since they are being danger by the capability of cryptographic money together with the blockchain innovation to the advanced world, particularly in the business, saving money benefits in particular. Hence it isn't shocked that banks could cooperate to remain the conventional and money related innovation point of view of managing an account.
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Bitcoin are slowly being familiarize and introduce all over the world they are attracting more users and customers because of their advantages and benefits that they can provide from us. That's why central banks are being alarmed on what are happening actually they didn't hate cryptocurrency they are afraid on it. Cryptocurrency for them is a big threat for them because it is their conpetitor and tgey are afraid to be replace by digital.
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So far, many banks do not want to mess with cryptocurrency because of dirty money which are simply an incredible amount, so if cryptocurrency will be legalized, then banks will have no choice how to start cooperating with cryptocurrency.
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It is obvious. Banks better than others understand how much the blockchain could be a strong and powerful player in the financial market.
They understand that it will take very little time, and the cryptocurrency will take from them the lion's share of all theirs incomes.
For this reason most banking organizations are against cryptocurrencies.
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"Banks" do not have enough or no incentive "to link themselves with bitcoins and crypto currencies because of fears of being involved in related illegal activities," said Executive Director of Credit Suisse. Chief Financial Officer of ING also voiced fears about the crypto currency, saying that although digital assets are an effective medium of exchange, the bank does not recommend clients to invest in them. While TD Bank is actually trying to block the purchase of bitcoin.
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Banks have adopted blockchain technology, I think it will not be long before you will adopt crypto, but some regulations may be changed, now we can see new projects, cryptobank on the eos and ethereum platforms, maybe other banks in the world will do the same.
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We know that cryptocurrency is a very advanced technology, I think for cryptocurrency it is very easy for us to transact wherever and whenever, even transacting between countries does not require a long time, whereas if we use a lot of services, it takes time and rules, and that makes it very difficult transactions, so that people use crytocurrency more
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I don't know how many banks hate cryptocurrency. maybe business competition? but if the bank uses blockchain technology such as crypto, maybe all banks will be helped to transact.
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Because cryptocurrency can be the growth of the current growth of the bank. If the cryptocurrency is already a common payment tool used in the community and becomes an option for investment. So that the product of the bank will decrease its enthusiasts. Because it will be a lot of using cryptocurrency that is very easy to use and without administrative costs such as in the bank. And if it happens then the bank will lose control of the investment funds stored in the bank and switch to cryptocurrency. Which will cause the inclusion of the bank reduced.
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The bank doesn't like Crypto because I think Crypto is a rival. so it's natural if they don't like it, they fight over customers
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because it's more safe and easier to use crypto wallets than today's banks, and it's great for free, rather than a bank that you still need a big balance
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Good evening. It seems to me that banks do not like cryptocurrency, because they can lose profits. In crypt transfers cost cents. But banks are not profitable.
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Cryptocurrency can surpass all the banks with one flip. It comes with the capability to put off the center guy in any respect transactions among people, which may be re-phrased as cryptocurrency can put off banks effortlessly. They both are opposites of eachother.
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Of course, it is unprofitable for banks to compete with cryptocurrency.That's why cryptocurrency is not a recognized means of payment everywhere,like Fiat. Another thing is that banks are already using cryptocurrency technologies and in the future can even curb it.
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maybe not like that, but Bank and Crypto are different in their principles and actions. I think if the Bank doesn't like Crypto, but for people who work at the Bank, I'm sure there are those who are interested in Crypto.
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in my opinion because there are some bankers who don't like the existence of this cryptocurrency, the basic principle is different, banks have an authority to save money, while crypto is not, so crypto has more freedom in managing its money
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The main reason banks hate crypto currency of course because banks worry if crypto currencies continue to grow then everyone will never save money in banks and more interested in storing in the crypto currencies that can make banks collapse.
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The bank has been around for a long time before crypto existed, cryptocurrency is the future of online payments and everything is decentralized, actually there are benefits if the bank rejects crypto, we can create crypto banks, with this there will be new crypto with partners or have crypto banks.
Traditional banks will certainly be worried and soon adopt crypto because of technological competition
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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?
Because Many investor prefer to invest in crypto currency than bank. Crypto is more profitable than banks.
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I feel these guys sees cryptocurrency as a challenge to their banking business that's why they hate and also cryptocurrency will make many people to invest their money instead of keeping it in the bank.
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I think that every big financial bank is trying to create its own blockchain in order to try to implement their model which si NOT decentralized, and that's the point, they don't want decentralization, not bitcoin, because decentralization means that they can't have control.
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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?
In my opinion I think banks should accept crypto currency or create new crypto. because crypto is the cuture technology.
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For me, banks cannot kill bitcoin potential and it's popularity all over the world. Whether we like it or not bitcoin will exist more years from now or possible forever in this world of digital place. They hit bitcoin because bitcoin is uncontrollable by the government.
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Those in top position controlling our economic will never want the power to get away from them in any case and seeing bitcoin giving investment and banking low to people are never happy in their mind and will do anything to make it not work but , people seeing this bitcoin as a way out from centralized government is way forward and that was why banks never support the use of bitcoin as funds are moving away from them in large to bitcoin.
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cryptocurrency is the future of online payments and all are decentralized, there is actually a benefit if the bank rejects crypto, we can create a crypto bank, with this there will be new crypto with partners or have crypto banks.
Traditional banks will certainly be worried and soon adopt crypto because of technological competition
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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?
We know that crypto is decentralize which is not back by government and if banks promote them and anything happen banks will be dealt with a more massive damage that what crypto is experiencing.
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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?
I agree mate. I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. The bank should addopt or acccept bitcoin. I see the banks afraid, because many investors prefer invest in bitcoin than banks.
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Many bank hate cryptocurrency because crypto seem to reduce there customers from them, in the sense that most people notice the benefit in cryptocurrency.
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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?
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the thing is, banks can do alot with crypto, its because they are controlled by the government!! thats why they hated crypto.
They can't stop it!
we still need a crypto bank, because i believe we need a credit card and loans for mortgage etc.
and don't forget a cool crypto credit card too!! and there is no way this can be achieved with VISA and Mastercard etc as partners...
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Because the cryptocurrency is trying not only to reduce the cost of banking operations, but also to speed up what the Bank can not carry out.
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many bankers hate bitcoin because of the possibility they envy bitcoin and fear if bitcoin keeps many bank customers out and turns to the bitcoin world that proves to be safer and more comfortable than the bank. with bitcoin you can also benefit very much.
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Because the presence of cryptocurrency will make investment products from banks no longer sell. More and more people who will invest in cryptocurrency make bank income decrease. That is what causes banks not to like crypto.
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really due to the fact it's far decentralized, I do no longer assume there are other motives besides that one. however I also determined out that there are banks that are also pleasant with cryptocurrencies or at the least with blockchain technology.
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They detest digital money in such a case that fiat will be pass on later on and if individuals will change their cash fiat to cryptographic forms of money we dont require banks any longer. We can control our cash and we can utilize our cash with decentralized aplications.. We won't utilize banks later on the off chance that we change fiat to digital forms of money. They can not control cryptographic forms of money. Goverments and banks abhors crypto due to that .
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In my opinion, why does the Bank really hate Cryptocurrency because the party's cryptocurrency does not need to be used as a third party in conducting transactions, because the peer to peer method adapted by cryptocurrency does not need to require third parties to make transactions.
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It is possible that the Bank is afraid because their function as a third party in conducting transactions will be erased, and so far the bank's function is third parties in conducting transactions, and they get a lot of revenue from these functions and with their cryptocurrency their income will decrease.
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Because cryptocurrency is trying to overthrow banks from a leading position, which is not good for them, and therefore be a war.
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More and more people who will invest in cryptocurrency make bank earnings decline. That is what causes banks not to like crypto.Because the presence of cryptocurrency will make investment products from banks no longer sell.
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In principle, the fact that the banking system does not need a cryptocurrency is logical. After all, now banks are monopolists on interest from transactions. But the more cryptocurrency will be introduced into everyday life, the more the banking system will be interested in integrating cryptocurrency into its system. Very quickly they will capture their piece of cake.
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After an unusually unstable (even for Bitcoin) beginning of the year, cryptocurrency is growing again, Bitcoin overcame $ 10,000. As of February 16, 2018, the crypto market had a market capitalization of $ 470 billion. The USA is larger than the size of the largest bank in the United States, JPMorgan Chase.
Bitcoin's market capitalization is comparable to the Bank of China. The second largest cryptocurrency by market capitalization, Ethereum, is comparable in size to Morgan Stanley. Statistics like this scare the global banking sector, which is concerned that cryptocurrencies are on the way to have a major impact on their operations.
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Competition and banks always see bitcoin as dangerous. bitcoin can be used as a crime such as money laundering and fraud.
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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?
The bank has an institution whose principle is protecting customers.
As bad as any bank and has a large fee for each transaction but the BANK has a responsibility to protect its customers.
The cryptocurrency cannot be protected by anyone except itself who safeguards its assets.
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I think one of the reasons why banks hate btc is because they have no control over it and as of now a lot of people are prefer to invest in cryptocurrency than to put their money in bank.
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Banks are scared of bitcoin and crypto currencies at large. The price of crypto assets does not have a stable price and its not regulated by a central body, which means it cannot be controlled by banks or by the government. That is why it is called decentralized currency.
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maybe because the bank takes into account the negative impact of bitcoin or other altcoins. and it will affect the growth of the bank that's the assumption why the bank forbade it
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Banks hate Bitcoin because they cannot control the founded system.
Another system to applied and another conjoined platform between banks and bitcoin.
The partnership should be tackle as soon as possible if banks wants something to be clear.
The same with bitcoin. Both should be in stable process.
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Many banks hate bitcoin and cryptocurrency that they don't get any profits from the cryptocurrency trading and mining. Another reason that they are not able to control it.
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I think many banks do not like cryptocurrency,because it can simply destroy the entire economy, because it already has a lot of weight
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One of the reasons why banks hate cryptocurrency because cryptocurrency offers more than banks. Your money could be highly increased in just a short period of time than banks. Thus, you can have a better investment if you will put your money into digital cryptocurrency.
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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?
I am not very sure but i believe that the bank does not want to accept cryptocurrency is because it is decntralize and if anything happened to it their brand reputation might be tarnish and they might be afraid of crypto replacing fiat.
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In principle, the fact that the banking system does not need a cryptocurrency is logical. After all, now banks are monopolists on interest from transactions. But the more cryptocurrency will be introduced into everyday life, the more the banking system will be interested in integrating cryptocurrency into its system. Very quickly they will capture their piece of cake.
of course bank hate cryptocurrency because bank get profit for every fee user transaction, that's whyin Blockchain and cryptocurrency people just pay low fee for every transaction with more advantages like fast, secure transaction than traditional bank system
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Well the bank and bankers are worried that the rise of the crypto world will be affecting the banking system quite seriously and will have an impact on their operations. Banks are fighting back with making looby to fight cryptocurrencies to slow down their growth rate .
As we all know many banks in different countries have recently banned their customers purchasing cryptocurrency with credit cards.
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We can control our money and we can use our money with decentralised aplications.. We will not use banks in the future if we switch fiat to cryptocurrencies. They can not control cryptocurrencies. Goverments and banks hates crypto because of that .
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Banks provide a centralized system and all transactions are done with centralized ways. While cryptocurrency creates decentralized system, so people can do transactions with decentralized ways without any one controlling it. I think banks don't like this ways and be afraid. They will get difficulties and losses if cryptocurency is developing till the future.
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in my opinion maybe because the presence of crypto currency would make the government bank not get tax from the holders of crypto currencies, and in my opinion only government banks are afraid of the presence of this crypto currency
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there are some things that make banks strictly forbid to engage in bitcoin let alone the current crypto industry. I think this is very natural, because banking is the basis of fiat currency. the problem is not to hate but to ban only. I think that's it.
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The main goal of cryptocurrency is go replace fiat money. That means there will be digital money and no real money. Then the banks can't process it. The central banks will have no clue about the trace of the money. So they feel threatened by it.
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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?
Because For now many investor prefer to invest in crypto currency than bank. It is more profitable and will be more popular at the coming future
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Many banks hate bitcoin because they don't get any profits from the cryptocurrency trading and transactions. Otherwise they cannot control the bitcoin over fiat money.
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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?
Why do you think that banks hate crypto? As I know XRP is the coin that belongs to banks. They use it and gets a lot of money from it, they can't use the cryptocurrency in their system because there is no such law, they will immediately will start to use it in their system but only if government will make the crypto as a payment method.
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As far as I know cryptocurrencies can surpass the banking sector. Since they are aware of the situation, they don't like it.
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in my opinion, banks do not like cryptovalbt, because it is a serious enough competitor for banks
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In my opinion, only government banks that are afraid of the existence of this crypto currency may be because the presence of crypto currencies will make the state banks not get tax from holders of crypto currencies.