Bitcoins bad publicity?

[Wysi]

We are used to such news as banks are not missing out any opportunity to take a jab at bitcoin, they initially tried thought users will stop indulging in Bitcoin with their warnings which they started earlier but users didn't pay any heed to their warning hence they have started to instill fear in our mind so that we might ditch bitcoin out of fear but they will eventually fail in this as well.

[Rengga Jati]

This is the power of media, media can easily spread the news and issues about what happens and what actually not happen by summarizing in their own ways to attract people to read their news. Moreover, it is sometimes only clickbait news that will be actually different from the content.
Well, as it has happened very often, I think that this is better depending on us. It is better to select the media, read the media only for certain consideration, but not to believe all. SOmeone said, not all things  are told by media

[NelfiNovita]

This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' -  I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?

I think it's like that too, bitcoin will be more expensive so investors will scramble to buy it as soon as possible so that they continue to get huge profits.  news about banks that will make their own crypto is possible, because they see that many investors buy bitcoin even though the price of bitcoin is very expensive, so banks also want to make their own crypto so that investors are also interested in buying cryptocurrency from banks.

[kawetsriyanto]

This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble'

It is not a surprising thing, mate. If you are already a long time in crypto, you must hear many negative issues spread out by banks and the government about Bitcoin for years. I don't know why the banks and the government really hate Bitcoin. I assume they are too afraid about the possible future of Bitcoin as a global currency.

I dont think Banks are reliable 'barometers' when making Bitcoin predictions

NO. You cannot get the Bitcoin prediction from the institutions which hate Bitcoin. They won't tell you about the good things on the Bitcoin future, but all their statements are only about the negativity and fear.

[tinopener]

Can't be as bad as Tesla as a bubble.

People are saying Amazon and a lot of other big tech is a bubble.

Also certain green energy alternatives are bubbling.

Biotech is definitely bubbling.

Bitcoin is somewhere in the middle of all that.

[tinopener]

...and now even some bitcoin related companies are bubbling more than bitcoin itself.

Look at the publically listed miners Argo Blockchain who are up more than 1200% in 3 months.

Now *that's* a bubble.

[Shasha80]

In my opinion, technology has become increasingly sophisticated and almost part of the world's population can access the internet. So whatever
negative things Banks and the government say, it will have little effect on Bitcoin. Because in my opinion internet users are getting smarter at
distinguishing good and bad things, therefore the popularity of Bitcoin is increasing. Because many companies and rich people consider Bitcoin
a profitable investment, and not think of Bitcoin as a giant bubble.

[ilhamsugihamin]

As far as I know about bitcoin, the government always thinks negatively about bitcoin because it provides the resources needed for the community rather than the system provided by the government, therefore I think bitcoin is not bad for society.

[affandi]

even some critics of Bitcoin - such as David Rosenberg, economist and strategist at Rosenberg Research - call Bitcoin a bubble.

This is a normal thing in my opinion, since the launch of bitcoin there has been a lot of fud in circulation but until now bitcoin remains the choice for investors, especially during the Covid19 pandemic, and also in my opinion those who spread fud just want to take opportunities for cheap prices on bitcoin and that has often been occur

[BitindaHouse]

Everything is correct, when bitcoin is made centralized, namely under a powerful state, at that very moment it will burst, and the fun era of bitcoin will end.

[redsun114]

This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' -  I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?

They are saying that bitcoin is going to bubble isn’t really something bad, there isn’t anything wrong with that, it’s a normal thing for them to say that. I have seen some economists that warned people about how the price of Bitcoin was pumping this year, and they were telling people to be very careful while they are investing in Bitcoin because it can burst at any time and they will be losing a lot.

So, they are saying it as an advise and not as a way to say something bad about Bitcoin. Lastly I don’t think that the digital currencies coming from banks will be able to beat Bitcoin, I’ve seen how some of them came and no one was interested in them.

[Lucius]

When it comes to US banks, then we should be interested in what the biggest ones think, not only in terms of size in the US, but also globally.

JP Morgan, the largest U.S. bank by assets, has this year softened its previously harsh tone on bitcoin... Now, JP Morgan has said bitcoin's strong 2020 could be set to continue, finding the bitcoin price has "considerable" upside in the long-term as it better competes with gold as an "alternative currency." "Even a modest crowding out of gold as an 'alternative' currency over the longer term would imply doubling or tripling of the bitcoin price," JP Morgan analysts on the bank's Global Quantitative and Derivatives Strategy team wrote in a note late last week, adding the "potential long-term upside for bitcoin is considerable" and pointing to Millennials becoming "a more important component of investors' universe" as a potential catalyst.

There will always be those who have people in their management structure who do not even understand BTC, but also those who understand very well what it is about and will do everything to keep the existing system as dominant. After all, banks are there to provide financial services - not to advise someone on what to do with their money, unless the client seeks financial advice.

As for the bank in question, over the years I have read some very bad experiences of their clients when it comes to anything related to cryptocurrencies - therefore such statements are nothing new.

Bank of America Is Closing My Three-Year-Old’s Account Over Crypto

[dejankralj101@gmail.com]

'launching their own Crypto to complete with Bitcoin'

Pretty ignorant of them. They will soon realize that nobody can compete with Bitcoin, least of all some Bank

[coolcoinz]

This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' - 

For me it would be a bullish sign. If the banks are saying that it's going to be a bubble they obviously realize that we haven't seen the top yet.

I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?

And you are right to think so, just like governments and their ponzi scheme allegations. If banks were reliable as investment barometers there wouldn't be a Cyprus bank bailout, a Greek crisis, Deutche Bank, and many, many more.

[Casdinyard]

Bank and the government have constantly launched several attacks on bitcoin ever since the first bull run in 2017 and even before now reason is that bitcoin as a decentralized currency have given the people the freedom of they money.

Misconceptions are just bumping on each other. Governments are just using the wrong words to say that it's market price will not continuously increase and having high hopes into it would yield to regrets eventually. While people in this industry are too optimistic on the market price of Bitcoin not looking to its nature of being volatile. There are really risks from investing into it, or should I say, to any investment. There's no assurance of the profit because the market price could fall down without any signal. Just look in the market price at this moment. It is indeed high still but think of those who invested during its ATH this year. So to how I view this, those people who are negative to this industry are either aware or unaware of its true nature.

[sapnu]

Look closely at all the criticism and where it is coming from to understand what their agenda is. People save money in Banks and those Banks use that money to loan it to other people to make a profit. So what happens now... these same people are not saving their money in the Banks ...they rather invest that money into Bitcoin and other Crypto currencies..because they think that it would give them more return on their investment than having that money saved in Banks.

So what does Banks do to stop people from investing in Bitcoin? .... they try to bad mouth their competition and spread fear to stop people from investing in Bitcoin.   

I think at some point they are just trying to give people some advice on how they should invest their money. Even though it is expected for the banks to bad mouth bitcoin since they are obvious rivals, we should atleast take consideration and make some research on how banks of America are having this kind of assumptions. Nevertheless, it is just a prediction still, it's just a theory and it hasn't been proven yet so the freedom if ours on how we would take their statement towards bitcoin. We are the one who's held responsible for our own monet after all.

[avikz]

This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' -  I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?

Well, to some extent Bitcoin is a threat to the banking system! When people dont need an intermediary to transact Money, that certainly decreases the need of having a bank. That's where exactly banks are worried and they are trying to discourage people from using bitcoin and other cryptos! But bitcoin is not facing such bad publicity for the first time. JPM Chase CEO Jemie dimon and Berkshire Hathaway Chairman Warren Buffet have already tried such thing and even the crypto market responded briefly to it! But the market is now matured and immune from such bad publicity! So nothing to worry!

[ChrisPop]

It is expected banks to have a contrarian view about Bitcoin. After all they are can find themselves in a very uncomfortable position if BTC becomes a global reserve currency. But I don't see any resemblance between Bitcoin and the tulip bubble for example. Bitcoin is appreciating because of its fundamental design and features. It is an instrument for storing value and making low-fee transactions with anybody in the world. I see value in this and it this way higher than $30-$50k if you ask me.

[BrewMaster]

'launching their own Crypto to complete with Bitcoin'

Pretty ignorant of them. They will soon realize that nobody can compete with Bitcoin, least of all some Bank

that hasn't stopped them yet though. and i don't think they are creating their own altcoin to compete with bitcoin, but they are doing it to make money. it is essentially what the altcoins, ICOs, DEFIs scams have been doing so far. they know the hype is real strong and they know there is a lot of money to be made, it is obvious that they want a piece of this delicious pie that everyone else is eating.

[Reid]

The bad publicity is what made it better. 
Even before I was introduced to Bitcoin by a friend, I never trusted the banks.
Yes, up until now.
So, what they are doing is like an invitation for those who hate the banks.
They announce negativity about it and people will start researching for it.
The question of "why" pops out.