So it looks like the war of the banks against bitcoin and cryptocurrencies has started:
The first bank that doesn't understand cryptocurrency and or is intimidated by it - the Lakestone Bank and Trust - has warned it's customer to stop making purchases and receiving funds from coinbase.com, the world's largest platform to buy & sell cryptocurrencies with credit cards.
Read more: thefreethoughtproject.com
This happened often before right? Banks that act like this will lose their customers and banks that are bitcoin friendly will gain. They will learn their lesson over time. Banks that adapt will flourish and banks that reject will go down.
Besides that it is a proof that you don't own your own money when it is in the bank! They proof how useful BTC is, isn't it hilarious?
Perfectly summed up, but let's hope that we won't need big banks anymore in near future. Upvoted.
They hate us cause they ain't us..
that is one ridiculous approach adopted by the bank. Over the years, that customer they are bullying now into stop dealing in cryptos, he made them thousands of dollars with the money he deposited in this sh*tty bank since all his savings and deposits were used as investment by bank in other businesses.
And suddenly they have problem with guy purchasing and selling cryptos?? Thats Rubbish..
It's definitely fishy.
So it begins. Porn sites? No problem. Cryptos? Big problem!
The bank should be happy to receive a large sum of amount for them to invest too. Oh! Sorry maybe this is an illegal transaction money... Bank always be bank. Follow the stream and theynwill flourish.
Yet another reason why banks suck...
I doubt big banks will do this because when you think about it almost $600 billion in market cap for cryptos. That is a lot of money moving around and where there is money there are bankers. People will still exchange crypto for fiat in order to use it to purchase goods. Fiat has existed much longer so it will take some time before or even if it can fade out.