Post
Topic
Board Bitcoin Discussion
Re: Why are banks against cryptocurrency?
by
shogun47
on 29/05/2024, 16:46:43 UTC
- snip

Your general stance that banks are against cryptocurrency doesn't hold true anymore. It was the case when they thought that by discrediting Bitcoin, it would either give them more time to get ready to embrace it or to use their lobbying power on governments to achieve bans in the most important economies. But it didn't work.

That's why they are off to the next stage: embrace cryptocurrencies and offer it as one of their investment products or offer custodial services or something. Or use it a speculative instrument themselves.

The really bad talk on all fronts from the banking or financial sector is quite over, isn't it? I remember times when literally no bank had an at least neutral opinion on the technology. These days you don't read these unsubstantiated attacks anymore.

Times have changed quite a lot, but that doesn't mean Bitcoin is about to have a better future. Actually any bank embracing it might be another point of centralization for the network. If people use banks to get into Bitcoin, it is not how it was initially intended to be used.