Some folks despite the visible positive impacts of cryptocurrencies and reviews from Jack Dorsey, Elon Musk, Michael Saylor and other popular crypto advocates have refused to change their stance on it. They don't just oppose Bitcoin or other cryptocurrencies but they wish it would die. For example, Buttcoin is a reddit forum where Bitcoin is "crucified" daily. In that forum, Bitcoin has been called "a scam", "a negative sum game". Also, David Gerald who is an anti-crypto activist has publicly cleared his hatred for cryptocurrencies and blockchain technology. According to him, “I think the future of cryptocurrencies is that it will become increasingly regulated and normalised. People want regulation of this because they want to know where they stand and what they can do with this sort of thing. I think that speaking technically they are junk-quality assets. They are not backed by anything they are volatile as hell. They have a price because people will pay for them and that’s all.”
My Questions now are, Why do some people hate cryptocurrency so much? What's their back story? Did they ever lose a huge amount of money in cryptocurrency?
Bitcoin is often associated with schemes and scams and most people who aren't knowledgeable enough easily believe the rumors and fake news without fact checking it. That is why the reputation of bitcoin is tainted in the mainstream media. When people read articles about it connected to a scam, they always assume it's true.
In addition, it may also possibly because they have lost a huge amount of money in risking to cryptocurrency. Maybe they can't get over their losses due to hype or FOMO and they just divert their anger toward bitcoin itself instead of blaming themselves for being so careless. Maybe some really got scammed by a scammer claiming to be involved in crypto but the truth is it's just a bait to get trust and money from their victims. Maybe some people got invested in it but got hacked because of phishing or because of fake application and they can't help but to curse they have known bitcoin when in fact it's their fault that it happened. You see, there are endless possibilities why people have so much hate towards bitcoin. We just need to look at their perspective to know.