The Opinion Echo: “Long Bitcoin secret, Short the Banks” – Deutsche Bank in the Crossfire of the Crypto Community

Rarely has the discrepancy between hype and reality in the crypto-cosmos been higher than these days. Bullish forecasts can be found everywhere despite falling prices. Permabullen have still the interpretation sovereignty over expected course of prices in the short to middle term. This can be seen in the exalted reactions of the Bitcoin community against the bearish tones of Vinny Lingham.

But Deutsche Bank is also catapulting itself to the sidelines with renewed accusations of money laundering, thus triggering the banking-critical community. What moves the scene in KW48.

Tim Draper: You called it Bitcoin secret

Mr. “In 2022 Bitcoin secret will be worth $250,000” Draper likes to call Bitcoin secret political currencies. These are slow, inefficient and simply expensive. For this reason alone, Draper says, the money market will seek more efficient ways in the short or long term. For Draper, the winner is already certain: Bitcoin. At the World Crypto Con in Las Vegas, he reaffirmed his bullish stance and referred to the casual coercion of the laws of the market economy:

“I mean, just because they cost you less, it’ll be better for people. And so they will move on to crypto, away from the political currency they call Fiat.” Tim Draper

The Bitcoin Community Trolls Deutsche Bank

For the bank-critical part of the crypto community, reports about money laundering allegations against well-known credit institutions such as Deutsche Bank are a found food. Under a tweet of the bank, in which it commented on the accusations, a whole series of malicious comments were found. A selection:

It is true that the police is currently conducting an investigation at a number of our offices in Germany. The investigation has to do with the Panama Papers case. More details will be communicated as soon as these become known. We are cooperating fully with the authorities.

It is true that the police is currently conducting an investigation at a number of our offices in Germany. The investigation has to do with the Panama Papers case. More details will be communicated as soon as these become known. We are cooperating fully with the authorities.

All against Vinny
How sensitive the crypto community reacts to critical voices can be seen in Vinny Lingham’s example. The Civic CEO is regarded as the “Bitcoin Oracle”, a title that the community can only smile tiredly about because of Lingham’s bearish attitude. His interview with CNBC Fast Money, in which Lingham draws a very pessimistic picture, then triggered a veritable shitstorm on Twitter.

“Pack as many misconceptions into a four-minute video as you can. Go,” commented software developer and Bitcoin bull Vijay Boyapati.