Quote from: Fara Chan on Today at 08:01:10 AM

Quote from: Fiasem20 on June 01, 2024, 01:15:03 PM

Exactly both parties are against Bitcoin and cryptocurrency.Before banks will give strict restrictions on Bitcoin transaction they might have received informations from the government,they work hand in hand to regulate Bitcoin and cryptocurrency transactions.Bitcoin doesn't have the form of a traditional currency so it can't be controlled by centralized entities.Bitcoin can't abide to the terms and conditions of banks,just like eliminating transparency in the Blockchain network,the network has always been transparent and what makes you think that if the network is controlled by centralized entities it will be transparent,they are definitely gonna eliminate transparency which is impossible.

Banks who oppose Bitcoin and other cryptocurrencies certainly have reasons for this because they are actually very afraid that many of their customers will run away from them and no longer keep money in the bank. Moreover, if some people advise not to save money in the bank, if we want better profits from saving the money then there will be many people who will switch to saving something else rather than just saving money in the bank. And the choice itself could of course be Bitcoin and other cryptocurrencies or other important assets whose value often experiences spikes every year.

You are correct, and I am sure that is the main reason why banks and governments in many countries refuse to accept bitcoin as a medium of exchange, because even in our country, where we are struggling, the government does not want us to conduct transactions through cryptocurrency and is attempting to block some accounts that reference cryptocurrency. If the government accepts bitcoin, I am confident that things will run smoothly, stress will be reduced, and everything will be OK. One of the reasons why governments in some countries ban cryptocurrency is that they do not have access to it and cannot manage it, which is why I prefer bitcoin. Nobody can control that and that make it moving smoothly without any fault.

Banks can't do anything to stop people investing and making transactions with it; they have another alternative to run their transactions because many people are in love with bitcoin and making profit with it, and nothing will stop them from doing so, and I am sure that if the country that stops bitcoin transactions and the government approves they should be used, you will see that the country's economy will be going great because everyone can make a transaction with the currency he have.