Banks fear bitcoin because it upsets their status quo. The banking industry has been ruling the world for generations now, because there is no other realistic way to transfer currency across long distances. They over charge, keep poor people down, and abuse their power regularly. Bitcoin is above all that, it cannot be hacked, it cannot be abused, and it cannot be corrupted. Wells Fargo, bank of america, citibank, all these major corporations have done tons of things to their middle class consumers to bleed them out little by little. Bitcoin and the technology behind it will eventually end this type of abuse and create a financial transaction system that is beyond corruption and abuse. There are risks, the volatility for instance, but that is something that will eventually be solved. Blockchain technology benefits FAR out weigh any potential risks, the world could possibly be made a better place because of it.