Why are some individuals hostile to Bitcoin?

[Tessnik]

I have a similar opinion with you on this, there are two classes of people in this 21st century era those that understand the technology and are taking advantage of it and those that are ignorant of the advantages of technologies such as bitcoin and blockchain technology. the bank will never support bitcoin or decentralized financial technology which is possible through the blockchain.

[Dhaniii]

For some time now I have constantly come across prominent individuals in society sponsoring hate speech against Bitcoin, most surprisedly These individuals either own traditional financial platforms such as banks and they are expected to be knowledgeable in investment and financial transactions and processes that seek to eliminate all the security challenges faced in the banking system through blockchain technology which give end-to-end encryption that guarantees a high level of security.

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

it could be that with the presence of bitcoin a lot of rich people no longer keep money in the bank, in general they start investing in bitcoin, so the level of bank financial hoarding has begun to decline. because one of the tasks of the bank is a place to hoard people's money. the second may be people who hate it because they want to join bitcoin but are stuck in the bitcoin growth system.

[Desyationer]

Because I didn't buy bitcoins in 2011, and I could have bought 10,000 bitcoins in 2011, but I wasted money like a lot of people like me. Now I do not even have 0.0001 and I am afraid to buy now, because it may fall, it is not clear whether it is a peak or there is still a flight ahead.

[LimLims]

For some time now I have constantly come across prominent individuals in society sponsoring hate speech against Bitcoin, most surprisedly These individuals either own traditional financial platforms such as banks and they are expected to be knowledgeable in investment and financial transactions and processes that seek to eliminate all the security challenges faced in the banking system through blockchain technology which give end-to-end encryption that guarantees a high level of security.

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

Yeah OP, whatever the reason you stated it’s worth mentioning.
But i see something different in my side.
I have seen mostly old people who doesn’t understand the concept of Bitcoin and Cryptos hate it.
I know people have their own choices but it doesn’t mean what you don’t understand is always to be bad.
Moreover i have also seen people hating Bitcoins due to it’s anonymous feature.
Let’s see what the rest of the community says on this matter.

[Kong Hey Pakboy]

It's simple, they're ignorant and bitcoin doesn't align with their current beliefs and fundamentals that they were taught in their life so they have a hard time being accepting of new ideas. Plus, they probably heard the bad parts in bitcoin so they have a hard time believing that it can be used for good.

[iTradeChips]

In my own opinion, basing on what I have observed and read in the past, the reason behind the hate is agenda. These people and corporations that are against bitcoin is not voicing their opposition because of the technology, but because they have their own self interests behind the opposition. Even though these people are billionaires and can easily participate in cryptocurrency, they might have vested interests in traditional investments and banking and don't want cryptocurrency to undermine traditional ways of making money.

[Shenzou]

For some time now I have constantly come across prominent individuals in society sponsoring hate speech against Bitcoin, most surprisedly These individuals either own traditional financial platforms such as banks and they are expected to be knowledgeable in investment and financial transactions and processes that seek to eliminate all the security challenges faced in the banking system through blockchain technology which give end-to-end encryption that guarantees a high level of security.

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

You answered your own question, most of the ones that are talking negative about bitcoin are the ones who have interest in its competitors, whether they are bankers or brokers or just normal people who have money invested in stocks, bitcoin and crypto has grown rapidly and they have became the number one investments, and since its volatile it is easier to make profit from it and that made people invest less in stocks and more in crypto, so thier only option is convince people that bitcoin is bad.

[mrongoz_imut]

The bankers are concerned that the growth rate of the crypto market will have a serious impact on their operations. Banks seem to be battling cryptocurrencies to slow their growth rate. Many banks have recently banned their customers from buying cryptocurrencies with their credit cards. This is an important step to slow down the growth of the crypto market. The reason is that they are afraid of competition.

[Zedpastin]

The bankers are concerned that the growth rate of the crypto market will have a serious impact on their operations. Banks seem to be battling cryptocurrencies to slow their growth rate. Many banks have recently banned their customers from buying cryptocurrencies with their credit cards. This is an important step to slow down the growth of the crypto market. The reason is that they are afraid of competition.

I have not seen many banks being hostile to Bitcoin I have see banks saying that they will accept Bitcoin and allow cryptocurrency transactions using their bank accounts. I think banks being hostile to Bitcoin is a myth. There are banks which do not allow cryptocurrency transfers but I think this is because of safety of their customers and not because Bitcoin is a threat to them.

[ancafe]

however, this is a matter of competition. I'm pretty sure that when the government doesn't make regulations, bitcoin will become a rival to Fiat. in fact, the effect is quite large for the country, and it also happens to the individual.
after all, quite a lot of people hate bitcoin simply because of the lack of interest in the business he started, or even to the point of losing money. this usually happens to banks or things related to investment. In addition, apart from the issue of business competition, this also happens to people who get losses from investing in bitcoin because they are in a hurry.

[Freezingel]

There are a lot of people like that, even i know some people that don't like and believe in bitcoin. From what i summarized, the reasons from them are mainly because they don't understand bitcoin well enough. Why should they use or buy coins with no real form using their real money? They just don't believe in the concept of digital currency. Some also don't want to get involved in this matter due to religious reasons, like saying it's haram and such. Other than that, they just don't understand bitcoin since it's too complicated for them, don't want to learn, and just think that it's cool to hate something popular. Sounds ridiculous i know, but it's true and happens.

[Meysa_richa]

For some time now I have constantly come across prominent individuals in society sponsoring hate speech against Bitcoin, most surprisedly These individuals either own traditional financial platforms such as banks and they are expected to be knowledgeable in investment and financial transactions and processes that seek to eliminate all the security challenges faced in the banking system through blockchain technology which give end-to-end encryption that guarantees a high level of security.

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

If the person or individual who hates Bitcoin has their own financial platform, it is certain that they hate Bitcoin because they are afraid that Bitcoin will become their competitor.  
But as far as I know most people who hate Bitcoin, are people who have suffered losses here, be it lost when trading or losing when investing.  
For me it doesn't matter, the important thing is that I stay live here and have a pleasant experience with Bitcoin.

[Theones]

The financial system of world is dominated by centralized entities like banks, insurance companies etc. Why they will welcome anything that is going to break there decades old monopoly? Bitcoin is empowering people by giving them authority of there money, its not the case in traditional banking system. According to world bank, around 2 billion people are not in banking system due to different reasons.
Thats why there is a continuous lobbing against BTC.

[hatshepsut93]

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

How do you imagine Bitcoin putting banks out of the business? It has 250k transactions per day which is close to its limit, and the world has hundreds of millions, or maybe even billions of transactions per day. Even with Lightning Network the capacity is not enough to open channels for enough users and the fees would skyrocket.

Banks generally don't care about Bitcoin, payment companies either. Most Bitcoin haters are just people who like to feel that they are smarter than others, and they think that this is what's happening when they are warning others about Bitcoin's "imminent collapse".

[swiftbits]

There could be a lot of reasons. These people got their passion for hate from a bad experience. It could be losing something from lack of understanding or losing from the technological advances and want to keep their power.

Some of them probably think they are helping others by sharing the disadvantages of bitcoin. If it's in my case, I won't be passionate about it cause if I dislike something, I won't waste my energy; I'll ignore it.

[huu78]

Of course they are anti bitcoin, moreover they are from traditional bank. They will not allow bitcoin to be legal tender. Blockchain systems are very much at odds with traditional banking systems. They won't be able to use other people's money to make a profit like traditional banks do. Maybe people don't hate bitcoin, but it's their job that forces them.

[MrcMrc]

For some time now I have constantly come across prominent individuals in society sponsoring hate speech against Bitcoin, most surprisedly These individuals either own traditional financial platforms such as banks and they are expected to be knowledgeable in investment and financial transactions and processes that seek to eliminate all the security challenges faced in the banking system through blockchain technology which give end-to-end encryption that guarantees a high level of security.

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

Yeah OP, whatever the reason you stated it’s worth mentioning.
But i see something different in my side.
I have seen mostly old people who doesn’t understand the concept of Bitcoin and Cryptos hate it.
I know people have their own choices but it doesn’t mean what you don’t understand is always to be bad.
Moreover i have also seen people hating Bitcoins due to it’s anonymous feature.
Let’s see what the rest of the community says on this matter.

I know a whole lot of lies have been sold to people about the concept of Bitcoin and because of lack of understanding and knowledge a lot of people have been mislead by the wrong concept, But again the set of individuals I mentioned on the thread are the well knowledgeable and prominent individuals in the society.

[lalabotax]

We always know that everything in the world will be two: like and dislike.
People will like something, and others will dislike that thing.
So does Bitcoin. Moreover, Bitcoin is something that is very popular and influencing around the world, Bitcoin can change people life, from poor to rich, from rich to super-rich, but Bitcoin may also turn people from rich to poor
Everything about Bitcoin always involves value, issues, FUD, but also hopes and expectations there.

And many people who don't like Bitcoin are sometimes those who don't want the financial system in the world disturbed with the wealth of having BTC maybe. And because they also don't know what Bitcoin exactly.Moreover, they only know Bitcoin from media with the negative sides.

[Natalim]

We always know that everything in the world will be two: like and dislike.
People will like something, and others will dislike that thing.
So does Bitcoin. Moreover, Bitcoin is something that is very popular and influencing around the world, Bitcoin can change people life, from poor to rich, from rich to super-rich, but Bitcoin may also turn people from rich to poor
Everything about Bitcoin always involves value, issues, FUD, but also hopes and expectations there.

And many people who don't like Bitcoin are sometimes those who don't want the financial system in the world disturbed with the wealth of having BTC maybe. And because they also don't know what Bitcoin exactly.Moreover, they only know Bitcoin from media with the negative sides.

Exactly. Mostly, those people are already close minded when it comes to bitcoin because they have been used already using traditional system so there's no way bitcoin will take its position.

I believe those people don't even know bitcoin exactly, how it will be functional and the high price that is associated in it. All they know is fiat which is in accordance with their old system.

[worldofcoins]

For some time now I have constantly come across prominent individuals in society sponsoring hate speech against Bitcoin, most surprisedly These individuals either own traditional financial platforms such as banks and they are expected to be knowledgeable in investment and financial transactions and processes that seek to eliminate all the security challenges faced in the banking system through blockchain technology which give end-to-end encryption that guarantees a high level of security.

What are their motives could it be that they are just anti Bitcoin or attacking Bitcoin because it is a competitor that will soon push them out of business.

Recently I saw a video of Dan Pena a Billionaire guy, he said bitcoin will crash when it was somewhere around 4000 USD value.
But what happened is bitcoin started making its move  and reached the 60,000 USD mark, I'm sure people who listen to him are regretting their choice of not even having the opportunity because they fixed their mind on what someone said,

It pisses me off that how much influence these rich people have and don't think about their actions, it's like saying something just for the sake of the satisfaction of public approval is more important than what they actually say.