Banks hate Bitcoin
Banks have been a part of our society for so long that we have forgotten what exactly they do. We think of them as bastions of security and stability. They hate Bitcoin because of it’s inherent instability.
George Basiladze of Cryptopay - a company which provides services for buying and selling Bitcoins in the UK - is of the opinion that traditional banking systems all over the world are not comfortable with Bitcoin.
According to him, Barclays, one of the largest world regulators, has recently updated its policy towards private banking and e-money services and, subsequently, a wave of license revocations stroke all over.
Banks are afraid of losing control
The goal of any company providing bitcoin services is aiding those who can't open a traditional bank account, so it's no wonder traditional banks are uncomfortable with the competition that such systems bring. Traditional banking services cherish the control that they have over the people and their money and will do everything within their powers not to let go.
Bitcoin offers a system that returns control and power to the real owners of money and the only way to fight for it is to show the will of the people - i.e. using Bitcoin and private banking services.
The bankers will do everything to stop the success of bitcoin. The humanity got enough from most of the bankers. I am not talking about every1 of them. There are still bankers out there who want to help out ppl.
Something needs to change badly and with BTC I hope something will change in a positive way for sure...
Many fellows have to put there savins on blockchain to runaway from authority and the throat-cutting taxes.
Bitcoin and Blockchain will make financial institutions great again...
Technologies like Siacoin, Humaniq and lots of others are there to help the banks....
They are for sure losing control. 😁
No, they have already lost control. They (and a large part of the world) simply don't realise that yet. But banks won't vanish, they will simply adapt.
The Banks are just lazy to adopt, similar thing had happened to Kodax, if you recall when Nikon first conceptualise the idea of digital photography instead of films.
A lot of Internet-only banks have already come up. Also consider that banking is not only about shifting money around, but also entails a lot of financial products. Those will not be blockchainified that easily.
This is why they are curious to learn more about blockchain in an effot to neutralize Bitcoin dominance...
The world is changing for the better. :)
Together we can make it possible...✔
Really nice post ! I love to see people speaking about bitcoin :D !
And put in light the fact that banks are not the only power! Banks have good reasons to be scared about BTC and crypto currencies in general ^^ !
I resteem ! My first resteem post ;)
Thanks for finding the post worth sharing...
As a native of Africa, I still find it vague when I see tier 1 countries rejecting bitcoin and flinging the ideas away.
In my country, bitcoin is never even discussed because they have not even fully comprehended the conventional banking systems.
Sorry to say that, but the old need to understand the potentials buried deep inside blockchain and cryptos at large.
You welcome !
They do because as you said they want to keep the control, and bitcoin would make the loising it !
If in your country they never even discussed about bitcoin it's probably because they feel being under the controle of the banks... and they want/need/should escape it !