Morgan Stanley

[rickgejr]

In response to an article negative about bitcoin...

https://thecryptopapers.com/2017/07/14/morgan-stanley-bitcoin-a-poster-child-for-speculation/

It just ticks me off.

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[iamTom123]

Morgan Stanley is the sixth largest bank in the United States. Banks take our fiat dollar deposits and create more fiat dollars — out of thin air.

In my personal point of view, it is just a waste of time and effort trying to counteract anything these banks can be saying against Bitcoin. This is not their forte and they should not pretend to be experts especially the fact that their own industry is not that perfect and many times in history led the country into economic turmoils.

Bitcoin is far from perfect, that is something we have to always understand. It is in fact right now evolving and as to where it is heading nobody can guarantee that as it is decentralized and there is no single being on this Earth who is the spokesperson for Bitcoin.

Bitcoin is still very young and it is still a story being written. Unfortunately, banks are not given the control for this story. Yes, they can ever join the bandwagon and take advantage of the possible profits to be churned but these banks can not be in the driver's seat. Not anymore.

No wonder that with something they don't fully grasp they create many scenarios so people would doubt and would start shying away from Bitcoin. Certainly, it is the bank's own right to do since we are on a democracy and it is all up to us here to just laugh at them.

[funkenstein]

In response to an article negative about bitcoin...

https://thecryptopapers.com/2017/07/14/morgan-stanley-bitcoin-a-poster-child-for-speculation/

It just ticks me off.

What bothers you?  It seems mostly on point and Gresham's law would agree that the more sound currency will be hoarded speculatively until that point that it is forced to come out.   

To nitpick the article, it says "We are required, by law, to use this debt based system."  This is not exactly true, legal tender law only requires us to accept the funbuck in the case of a debtor who only wishes to pay us with the funbuck.  This doesn't mean we are forced to use them.     

[pitham1]

In response to an article negative about bitcoin...

https://thecryptopapers.com/2017/07/14/morgan-stanley-bitcoin-a-poster-child-for-speculation/

It just ticks me off.

It might very well be, but there is nothing to be ashamed about it.
People are betting on Bitcoin succeeding because of its inherent features, unlike wild bets that bankers make with other people's money.

[HabBear]

Classic.

Well, first of all Morgan Stanley isn't wrong. Bitcoin and cryptocurrencies are nearly the most speculative investment that exists right now.

Also, all the investment banks and research houses make their money, literally, in making bold statements. No one reads their articles and forecasts if it reads "Bitcoin will probably stall for a bit before continue a slow rise forward." Bold statements get clicks, especially when they can't even fucking sell any Bitcoin! It's the clicks that they get on their articles about Bitcoin coverage that earn them any revenue.

And finally, know that as Bitcoin becomes more mainstream it will be the target of more mainstream attacks and skepticism, if not for fear of the unkown then out of a need to create FUD to sell clicks on their website.

[Mometaskers]

I think they are playing to concerns of people about a possible split. Sure it is speculative... and people know that before they got in to this. They knew the risk and decided it was worth it. Don't these bankers sort of bundle debts and speculate on them as well? It was they that brought cycles of economic crises on us and then when we do the same thing it's bad?

Oh well, I'd never expect bankers to talk positive about and shower praises on bitcoin anyway. If that ever happens, I'd probably start taking financial advice from my cat.

[Savik]

It's like asking a horse breeder his thoughts on the development of an automobile. What the hell do you expect a big financial institution to say?

[Hydrogen]

I wonder if people realize banks are likely behind the spammed DDoS transactions in btc which led to a fork.

Banks are herding people like cows, using things like unconfirmed transactions and high fees to control people and influence them into supporting the wrong things.

Its painful to watch.

[freedomno1]

So one of the firms that took the $107 billion in the bailout, more than most banks received is saying that Bitcoin is speculative, well I would figure as much they are one of the poster childs for speculation themselves with high standards cough, it's like telling someone the Car is a speculative mode of transportation let us rely on the horse as it is not a speculation.
Hmm the times are interesting.

[orarider]

In response to an article negative about bitcoin...

https://thecryptopapers.com/2017/07/14/morgan-stanley-bitcoin-a-poster-child-for-speculation/

It just ticks me off.

It might very well be, but there is nothing to be ashamed about it.
People are betting on Bitcoin succeeding because of its inherent features, unlike wild bets that bankers make with other people's money.

Bitcoin users are split, which is similar to the situation of bitcoin when a hardfork occurs, one side believes in bitcoin, they are willing to put all their assets in bitcoin, whereas many people are selling bitcoin for the bitcoin. Anxious, they accept the hole.

[merchantofzeny]

Another FUDster. Of course it's speculative, that why people got into it, many are after profits. Isn't that what stocks are anyway? Doesn't the banking industry does lot of speculation?

So one of the firms that took the $107 billion in the bailout, more than most banks received is saying that Bitcoin is speculative, well I would figure as much they are one of the poster childs for speculation themselves with high standards cough, it's like telling someone the Car is a speculative mode of transportation let us rely on the horse as it is not a speculation.
Hmm the times are interesting.

LOL. Was really rich coming from a guy like him.

[buwaytress]

In response to an article negative about bitcoin...

https://thecryptopapers.com/2017/07/14/morgan-stanley-bitcoin-a-poster-child-for-speculation/

It just ticks me off.

What bothers you?  It seems mostly on point and Gresham's law would agree that the more sound currency will be hoarded speculatively until that point that it is forced to come out.   

To nitpick the article, it says "We are required, by law, to use this debt based system."  This is not exactly true, legal tender law only requires us to accept the funbuck in the case of a debtor who only wishes to pay us with the funbuck.  This doesn't mean we are forced to use them.     

Precisely, while the headline is a little unfortunate (the dotcoms were more poster boys than Bitcoin is, really), some of the reasoning in the article is pretty sound. Well, okay, I can pick on the lead too (hasn't fintech always been fashionable to bash?). It's also in line with a lot of the commentary found on this very forum.

Note: this isn't to say I agree!

[PedroLinh]

Most of worlds economy is about perception and speculation. And currently both USA and UK governments are seen and/or portrayed as inept so its not surprising.  It depends on whether Trump will stabilise, and whether UK will experience another government meltdown, too. May isn't terribly stable or popular, and Trump still has the Russia afere hanging above his head.

[manselr]

It's very convenient to see this thread pumped, because I have the opportunity to post this here now and compare it to what they were saying a couple months back:

https://www.bloomberg.com/news/articles/2017-09-27/bitcoin-more-than-just-a-fad-morgan-stanley-ceo-gorman-says

Not every Wall Street bank chief is bearish on bitcoin.

Morgan Stanley Chief Executive Officer James Gorman takes a more measured view on the cryptocurrency than crosstown rival Jamie Dimon, the JPMorgan Chase & Co. head who earlier this month called it “a fraud” that’s in a speculative bubble worse than tulip bulbs.

Bitcoin is “certainly something more than just a fad,” Gorman said Wednesday at an event held by the Wall Street Journal. “The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that.”

As you see, these bastards will change their opinion just like they change clothes. Chances are they want you to sell and buy at will in order for them to profit.

You know the drill: Buy and hold. The banksters don't know anything about Bitcoin.

[zzSunZZ]

A "tech race" between the banks cannot bypass the slow net clearing mechanism of the fiat system via central banks or the various middlemen. It would be very much the same, accounting on computer data bases will be replaced by accounting on blockchains. It's merely an IT upgrade which costs money, but does not improve anything significantly.

The Interbank market is essentially dead since the financial crisis, because banks don't trust each other (because these loans are not collateralized): https://fred.stlouisfed.org/series/IBLACBW027NBOG .

If banks really want to improve the financial system, they have to start using collateral again like they did it in the past with gold. There is really no way around Bitcoin.

[adam1230]

Banks are the biggest scams in this world. If they cannot profit much they will create a financial crisis and shutdown their doors.
In near future we will see Deutchebank and other erupean banks fails. These are playing same game for years.
And people are doing same fault by trusting banks meanwhile banks not trust eachother lol.

[Reatim]

Banks are the biggest scams in this world. If they cannot profit much they will create a financial crisis and shutdown their doors.
In near future we will see Deutchebank and other erupean banks fails. These are playing same game for years.
And people are doing same fault by trusting banks meanwhile banks not trust eachother lol.

Well we should be aware by now that banks can't be trusted. We have in our lifetime has been screwed by them, and thank bitcoin we are bank ourselves. To proved them wrong is futile. Let bitcoin do its thing and shows that bankers are very wrong. And bank doesn't care if you lose or not, as long as they profit from making speculation like it bitcoin, they will do it without batting an eye.

[VanDeinsberg12]

It's very convenient to see this thread pumped, because I have the opportunity to post this here now and compare it to what they were saying a couple months back:

https://www.bloomberg.com/news/articles/2017-09-27/bitcoin-more-than-just-a-fad-morgan-stanley-ceo-gorman-says

Not every Wall Street bank chief is bearish on bitcoin.

Morgan Stanley Chief Executive Officer James Gorman takes a more measured view on the cryptocurrency than crosstown rival Jamie Dimon, the JPMorgan Chase & Co. head who earlier this month called it “a fraud” that’s in a speculative bubble worse than tulip bulbs.

Bitcoin is “certainly something more than just a fad,” Gorman said Wednesday at an event held by the Wall Street Journal. “The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that.”

As you see, these bastards will change their opinion just like they change clothes. Chances are they want you to sell and buy at will in order for them to profit.

You know the drill: Buy and hold. The banksters don't know anything about Bitcoin.

My act to this, just follow the damn train, the statement by james gorman will shake the market depends on which their statements sided on. I believe that the traders following this news as well.
and yes I do agree with you, he's trying to control the market, not by money, not resources, but merely by using his popularity as Morgan stanley's CEO.

[BrewMaster]

i have stopped paying attention to what these people say about bitcoin. both the negative ones and the positive alike. they are always full of themselves trying so hard to convince others about something they do not understand at all or sometimes have little understanding of.

in my experience they are just abusing the media to their advantage. as i said both positive and negative alike. they say things that suits their own behavior in the world and in bitcoin market.