Typical Banks

[milanista 93]

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

[sdsonjoy50 886]

Yes,  Many banks do not like crypto, and do not approve of crypto, but already crypto is being legalized in many countries, and Bitcoin ATM is launching, do not despair, soon crypto will be approved worldwide.

[littledi059 1010]

That shows their fear. Because only the things that they are afraid of are wing prohibited. Prohibition means fear. So it's great news for crypto community - crypto really does have a lot of power to argue with banking system

[Migo 7946]

1 hour ago, sdsonjoy50 said:

Yes,  Many banks do not like crypto, and do not approve of crypto, but already crypto is being legalized in many countries, and Bitcoin ATM is launching, do not despair, soon crypto will be approved worldwide.

Yes I agree with you, many banks are not accepting bitcoin or they fear to use it because some unknown reasons, but in the future they will adopt it and use it like paper currency 

[Mahi25 142]

That shows their dread. Since just the things that they fear are wing restricted. Seeing that cryptographic money is developing quicker making exchanges frameworks simpler, as crypto ATM have begun existing. exchanges administrations are not fixated on banking frameworks as it were.

[Cryptominded 704]

On 12/4/2019 at 11:25 PM, Migo said:

Yes I agree with you, many banks are not accepting bitcoin or they fear to use it because some unknown reasons, but in the future they will adopt it and use it like paper currency 

No, the reasons are right before us - Bitcoin and its technology - blockchain are disruptive by nature and have come to challenge the cloudy activities of current monetary system. The banks actually add nothing to the GDP of any nation, yet they're the ones declaring mind bogging profits year in, year out.  A mainstream Bitcoin is sure to expunge all that and it's not for nothing that they're afraid of cryptocurrency!

[Afrizal rahman 2636]

Yes, right. many banks reject the existence of crypto. it is only part of the country and some of them accept it. some have even created an ATM for crypto. I hope crypto can be accepted by the world later.

[aqua 773]

I think the banks are worried if they will lose their members because of crypto. Cryptocurrency offers people to have anonymity, and people will have a chance to manage their money in the wallet. The best thing about cryptocurrency is people don't have to make a report to their bank if they have an asset. They don't have to pay the fee by monthly like what they did with their banks. If people use cryptocurrency, the banks will lose the opportunity to get more members because we know that the banks have their regulations for their members. But unfortunately, people still prefer the banks so that will makes cryptocurrency has a slow-motion to grow.

[Naga 1250]

Yea banks always tey to stop people from . buying bitxoin with their credit cards and they think that will stop us from buying but forget we can always find a way to buy bitxoin with cash rather than just bank transaction. 

[Sumayya 493]

Banks doesn't like cryptocurrency for what it can offer to the community, it benefit only the users and not the bank. They will also try to work with it

[Thekingcallme 1975]

This is true, but this will not prevent people from using cryptocurrencies because they are useful and have many good features
And I have not put between two options dealing with banks or cryptocurrencies
I would have chosen cryptocurrencies

[Mosin 444]

Of course, banks are afraid of cryptocurrencies, why do they need unstable coins, so you pay them a loan in full, and tomorrow it will fly a few thousand down and it’s not at all profitable for them, it’s better to have a tough policy and accept a settled currency

[rekter 8129]

I can't believe that it went trough and could be legal, but i guess they could argue that they don't want to put people who handle loans, money and such in a spot where they could "wash money" easier. Even though these banks wash money anyway.

[Agios 1763]

The bank also often makes news in all media, to make the price of crypto go down and be abandoned by its users, so that cryptocurrency will die. As crypto users of course we should not be anxious and despair over the treatment of banks,

[Tine0313 3053]

Banks do not like crypto but i think they need to accept and adopt the use of crypto since big part of the world are using crypto and they can't stop people from using and buying crypto, banks can only do is accept it.

[Akbor 1042]

Banks are afraid about crypto because the price increase and decrease daily. so they may fall in loss when the price will go down. that's why they don't accept crypto. now many countries are accepting btc for their banks.

[patitaycute 648]

It is just because banks was threatened to crypto. Crypto are taxless and also a decentralized that you can do what ever you want from your crypto because no government regulates us.

[Hatred 1388]

On 12/5/2019 at 3:00 AM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

Just like you said, crypto is a threat to them. Why? because if crypto will be legal, transactions in banks will change. They can't manipulate crypto unlike the fiat currrency.

[Opinder 1310]

On 12/5/2019 at 12:30 AM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

I think crypto is highly liked by people. And they are becoming addicted of it. If banks would not accept it then there would be no problems in using of crypto because it is private people can use it peer to peer. And there is no chances of crypto crashing from market.

[Soaib khan 1035]

Banks are hating crypto currencies because if crypto currency legalize most of peoples investing in crypto and banks face big loss this reason of bank trying to crypto not legalize.

[McCree 713]

In Nordea Bank's case it's understandable that they ban their employees from using a rival product. This is very common in industry because it would be embarrassing to be caught using another company's product. But in this case there is no rival company, just millions of decentralized users.

[bentayebsalah 2280]

Typical banks do not use or deal with cryptocurrencies because they pose a risk to them, as well as do not control them, and crypto is used for illegal activities.

[BitMart 326]

Banks are really feeling very bad just because of this technology so they are doing all things which can prevant their employees and customers from this crypto so its typical their own view but one thing is sure they cannot stop this blockchain as its entering and creating new changes and revolutions for banking system in future we will able to have very less fees and time for transactions through this crypto.

[Amirul Islam 382]

On 12/5/2019 at 1:00 AM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

I think banks don't like crypto because of it's system. It's a decentralised system. Here fees deduct too low for transaction. Also banks won't get any profit from it. That's why they don't like this.

[bliznec 22267]

Yes, but German banks are superior in the expectation of accepting bitcoin. Germany goes ahead and implements this action, which involves funds in the blockchain.