DEUTSCHE BANK SPEAKS OUT AGAINST BITCOIN

[MTF]

Deutsche Bank’s chief strategist won’t suggest that people invest in bitcoin.  Ulrich Stephan said that it was not a good investment for the everyday buyer. 

Stephen believes bitcoin moves up and down too quickly though the coin is trading over 8,000 right now. Others project it can go much higher including Max Keiser, host of the ‘Keiser Report’, who thinks it can reach at least $100,000. 

Deutsche Bank has its own problems. It received a find of $630 million after customers transported $10 billion of out of Russia via money laundering. The bank doesn’t seem to have much faith in bitcoin but is not much more confident about the dollar. Top execs have stated we may be watching the ‘start of the end of fiat money.’ 

Another Deutche Bank strategist believes the system will start to collapse in earnest over the decade. At that point, bitcoin and other such alternatives may become a more  serious competitive force and one that could become a significant alternative. 

Others in the field believe that central banks are holding bitcoin back. These people believe that bitcoin could be much more widespread if central bank stopped trying to suppress it and instead welcomed it.

But many believe that in the longer term central banks want to take over currencies like bitcoin and turn them into digital facsimiles of what they have now. This means that bitcoin would lose the value and volume advantages it currently enjoys.

The idea is that the only part of bitcoin and other cryptocurrencies worth sustaining according to central banks would be its transparency. They would encourage the use of bitcoin because they would know about every transaction being made at any time. Taxes and other fees would go up dramatically. You couldn’t hide from the government gaze anywhere.

Ultimately the use of bitcoin by large banks and central bank will shift significantly before it is generally adopted. And then it really won’t be bitcoin anymore. Apparently that will suit central banks just fine.

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[icanscript]

Very controversial issue.
Bankers want to make money on bitcoin. But they understand that bitcoin is the enemy of the banking system.
This contradiction leads to the fact that we see both the denial of bitcoin and the attempts to integrate it into the banking system.

[Tavarez]

Scandals have proliferated at Deutsche Bank. Since 2008, it has paid more than nine billion dollars in fines (bribes) and settlements (bribes) for such improprieties as conspiring to manipulate the price of gold and silver, defrauding mortgage companies, and violating U.S. sanctions by trading in Iran, Syria, Libya, Myanmar, ...Not to mention being bailed out by the German taxpayers numerous times. Chief Strategist Ulrich Stephan is spit catcher for the German Banking/Government Mafia (Gestapo).

[mike113]

I think he already bought a few hundred ( ~ thousand) btc for himself 

[Crypdon]

The problem with bitcoin and banks is that the bitcoin needs to come from a legitimate source. Imagine if their investors were caught laundering bitcoins that were used for criminal purposes. Crypto ransomware viruses, black market goods, etc..

[Raist]

The problem with bitcoin and banks is that the bitcoin needs to come from a legitimate source. Imagine if their investors were caught laundering bitcoins that were used for criminal purposes. Crypto ransomware viruses, black market goods, etc..

It is coming from mining. Seems legit for me.

[amaral1977]

This guys trash talk BTC because they don´t like decentralization. So they are trying to creat something hey will call a cryptocurrency, but something they can govern in a more controlled/centralized way. It´s up to the masses to don´t take their bullshit and keep supporting decentralized coins.

[GrannyC]

I consider great news when banks speak against bitcoin.