Post
Topic
Board Bitcoin Discussion
Re: Why are banks against cryptocurrency?
by
Fara Chan
on 05/06/2024, 08:01:10 UTC
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.