Bitcoin Forum

have you guys seen the latest report from CitiReasearch 'experts' claiming that Bitcoin will die, titled' How Bitcoin is bad for the world'
here is the link <mod: link removed, DMCA'd>

Do not click the link guys, no one knows if that link could have malicious code inside, and nowadays, it is very risky to click on external links, specially on this forum, where there is targetted traffic.
Just an advice, if you want to post it, just quote.

They are pointing to some concerns on which some of those have basis. But on the other hand, those are already on table and there are thing on how we can deal on it. Just let them spread what's on their mind as we are used to encounter FUD. Generally at the end of the day, it's up on hand of the community if they will leave or stay in the world of cryptocurrencies.

I have several friends working at Citibank but never did they encountered some warning or noticed about using cryptocurrencies.


The link is safe no worries.

Well besides this report I have heard dozens of reports about how bitcoins will fluorish very nicely in the market this year..
Well you cannot.. always believe the report, you need to have a solid support argument not some random theory based on the past experience of things like tulip.

It's not something that one can decide if it dies or not it's the time and the people thus Better make our choices ourselves instead of getting influenced.

Saying that Bitcoin is bad for the world is a bit extreme, but honestly, they're just following the same script that every financial corporation in the US has been getting from the govt over the past year. And I didn't know these 'experts' were so good at what they do that they can actually predict the future and know what will happen to Bitcoin.
But nowadays, it's not surprising to see such statements coming from the banking system, they've been against Bitcoin for quite some time now.

I also didn't open it. Weird looking link, I would say. Jeesh, all these talks about stuff like Spectre, etc is really feeding into people's paranoia.

I never read news from so called experts, all they do are writing irrational nonsense and then in month or 2 they write opposite opinion.

Link is safe, it is just opening the report.

I didn't get surprised honestly. As we all know that there is a huge battle s going on between central banks and bitcoin. so they are using all their power, money and social media to influence public about cryptos.

Or maybe they're just want to move the market to catch some decent entry points, and after they can make some profit for themselves... They (banks) won't let people buy bitcoins, I'm sure, but I'm not really sure that behind the scenes they don't invest into risky things (or their venture capital companies, because they don't have as much regulations as the banks itself).

This is only beginning and of course it's in their best interest to knock it down tbh. I don't blame them but soon they won't deny it, but join this movement.

I think BTC dying is an overexagguration. They're not in a position to call themselves experts on the topic anyways. Even if they were, lots of disagreement between 'experts' here.

Yes, join right now that it is EXTRA cheap, i think that they are just losing another opportunity, but what can we expect from banks? They are always going to try to do everything in order to rip-off bitcoin.

There is nothing new in here, this is just any of those brand new FUD's that we are seeing everyday in here.

I am not surprised anymore with this kind of news.

If you have interest to discuss the article with us how Bitcoin is bad for the world, why not post some key phrases here and we can discuss directly instead of clicking on your curious link? And do you know who citibank is? It is one of the largest system banks in the US! What do you think will they tell about their biggest competitor bitcoin?

Citibank? what is it? i never hear about this company and i think this is

another bitcoin's new FUD's. just ignore it you will be fine

it's just an unreasonable fear.
it is just a reference link you may be too worried so you do not dare and speculate that a link to be dangerous,
preferably before expressing an opinion.
first check what you are going to say

Actually i dont know how to identify malicious link or not because it is just look the same for me. However i always take care about any link since i dont know its malicious or so i simply not click to prevent something i dont want.

there are so many other reports stating that btc will die and it is a bubble than when people read it they withdraw their money and dump btc making the rich to collect from bottom.

I saw that already but you know buddy banks hate cryptocurrency that's why they are issuing news like that o matter what happens never stop dreaming and always find your solution that will give you a sweetest dream you will have in cryptocurrency.

Of course Bitcoin will die... one day in the future. And also the Citibank will day... one day in the future. There are no immortal entities here.

Even it said in news still we can enjoy now so better to forget that news because nothing gonna happen

Another article want to messes up with bitcoin, the media never cover a good thing about Bitcoin, they love to make Bitcoin look bad, and the most irritated part in that article is "Bitcoin is wasteful", Bitcoin has been saving some people from poverty when government can't do anything to provide more job opportunities, Bitcoin got more and more usage for the people that want to learn about it

The article does make a few good points, but there are a few inaccuracies that confirm its already obvious bias.

First, it says that Bitcoin security is weak, then acknowledges that Bitcoin itself has never been hacked. This is very misleading, and while it did say that wallets are vulnerable to hacking, it didn't care to mention that most hacks are against exchanges, and that the coins are only as secure as their user wants them to be. Quantum computing is somewhat of a concern, but it's largely speculation at this point, with none of them existing at the moment.

It also says that Bitcoin's full anonymity is one of its most popular selling points, but anyone who has been dealing with Bitcoin for more than a few days would know that this isn't true. It then goes on to say that wealth is moving from the formal economy to the informal economy, but that argument falls flat in its face when we establish the fact that Bitcoin is not fully anonymous, as the IRS has already proven. The IRS going after Coinbase traders also suggest that Bitcoin could be part of the formal economy.

I'm not at all surprised that Citi would release such a piece, but eh, it was a decent read.

That link is very suspicious. Dont click it guys

no need to worry about this report this not the only one that claiming/speculating bitcoin will crash/die or whatever. every day this so called "expert" just speculate things but without proof nothing will happen. they so bitcoin dumping this week so they take the opportunity to exaggerate things.

I clicked the link in my Windows 98. My antivirus didnt fire off, so I think the link is ok lol.

Jokes aside, I read the beginning of the pdf file and decided not to finish it because its another propaganda-piece made by the bankers for the bankers. It has no scientific argument except that they "think" BTC is bad, not secure and a bubble.

These are the arguments made in the pdf file. Among them, I agree with one. Bitcoin creation is wasteful, but only because I believe all cryptocurrencies should use Proof of Capacity.

• Bitcoin is too volatile to serve either as a medium of transaction or as a store of value. And this is structural.
  
  
• Bitcoin  creation  is  wasteful. Bitcoin  security  is weak and  it  can  get  worse  with quantum computing.
  
  
• The  rise  of  Bitcoin  facilitates  illegal  activity and may re-distribute wealth  from the formal to the informal economy.
  
  
• The  poor  design  means  that  bitcoin  is  likely  a  bubble. Other  crypto-currencies are likely to take over.  
  
  
• Timing of bubble peak is unclear – government action could become a trigger
  
  
• Wealth effects of a failure of bitcoin would be meaningful in Russia, Nigeria, New Zealand and others.
  
  
• Another tripling of bitcoin prices to 60,000 USD could trigger government action

yeah, i agree, all these kinds of news are just biased, baseless and does not represent the whole picture about bitcoin, we should be bothered with this news, it is already been said that bitcoin is volatile, means it is unpredictable to forecast things. this is not the news last two months where bitcoin rapidly increases its price, it also surpassed the so-called experts in financial forecaster that bitcoin will reach to 8000 but to their surprise, it reached to 10000, all of these are games of chances and risks. that was investment is all about.

Well like anything else, limit your risk. I typically sweep any value over my target holding amount into other currencies or gold.

I see no other mention when I search news for the report other than this thread. It seems to me an attempt to steal crprto currency from Microsoft Windows (the most likely target but not necessarily the only one) users.

I often see many famous economists say the currency is a scam, see many news that the currency is a bubble, but there are more and more people believe that the currency, they believe that the currency will become the mainstream of future currency

Oh well, what to expect? Almost every day there are countless useless fuds that are being spread all over the internet not just about bitcoins but about all the existing crypto currencies. Even ICOs aren't safe. Although some have basis and logic behind their fuds, they only report the same things over and over again that we can always do a way with. Just ridiculous.

It is normal to hear this from bankers. I always see bankers talking bad about Bitcoin yet investing at the same time. The IT people are the opposite, they know the technology behind Bitcoin.

They are constantly creating dumb news because half of the journo's cant even understand the concept behind bitcoin.

of course no one or thing will live for ever ... we all will die one day but i dont think bitcoin will but lets hope we live forever to see what goes on