Topic: Another story telling how billionaires hate bitcoin? - read over quick coffee. (Read 326 times)

I’m not supporting Billionaire but your logic is assuming that cryptocurrency will continue to rise and no one will sold their holdings. You can use as an example Michael Saylor. If what you said is right then he will have billions of profit now since he invested more than 100$ million dollar yet he is now in huge loss despite he invest few years ago when crypto is rallying. He has the chance to take profit that time when Bitcoin hit the peak price but he didn’t since his holdings will just dump the price to the floor when he exit. This is same scenario on other Billionaires which is why they are pointing out the secured way of investing.

There’s nothing wrong on his opinion that is his belief towards investment. Crypto is really a risky investment so he is not lying. It just hurtful to hear for us since we are Bitcoin investors but we acknowledge the risk of our investment due to volatility.

The funny thing about billionaires that are against Bitcoin is that if they had educated themselves on Bitcoin already they would already be billions of dollars wealthier than they are.

I mean, as a billionaire, the idea that you wouldn't at least have just put like say $100 million into Bitcoin a few years ago is crazy. These billionaires are too scared of Bitcoin and by not getting educated on it they are making the biggest financial mistake of their life.

It is a common method whenever you want to hate on something or just basically want to diminish the power of it. You find something good about it, and then say that "this part is good, but the rest is bad", it is done in everything, including politics as well, whenever someone says something you disagree, people go "the intention could be good but the method would ruin our nation!" type of thing.

This "blockchain is good but bitcoin sucks" thing has been around since bitcoin was created and it has not stopped the increase of bitcoin adoption and the price of it as well. We just have to wait and in a few years at most we will have another higher ATH, the haters can't stop it.

This is his point of view, he managed to build a successful business and sees certain risks in investing in bitcoin. I agree that it is impossible to invest all the money in one thing, there must be diversification in order to protect us from large losses that can significantly affect us.

Rich people who have already created large fortunes will be convinced that they are right in their judgments because they have achieved their goals with other tools. Moreover, bitcoin is a new technology that not everyone has figured out, and perhaps there are those who are simply not interested in it. Why does he need it, if he already owns a huge fortune, and he has achieved everything he wanted.

Why its getting more attention? Everyone has right to express their own opinion regarding on what they believe or like. If he think bitcoin is negative, he should stay away from it since, once the digital economy takes off, he will be out of date and miss miss the chance to prove his point.

Yes, taking the positive side, it means we should try to diversify our investment by not only investing in crypto because there are many types of investment. But if he forbids you to invest in crypto, you don't need to listen to him because we have our own opinion that we get from the results of our research.

And if he wants to open himself up to accept crypto and learn what the benefits of crypto are, I think he will agree and maybe he has invested in crypto without us knowing. Investing in crypto is for everyone and it is up to that person to decide whether to keep investing in crypto or invest in something else.

Making money is one of the reasons but it isn't the sole reason and satoshi didn't have such visions while creating bitcoin as well. Of course you, me, and everyone else need money in this world to survive but bitcoin brings decentralization which gives complete control of our money in our hands while fiat is highly controlled by central banks, and can do whatever they want when they want to.

I understand blockchain technology so I believe it is going to be the future of money that is the reason why I am here nothing else, and who knows one day I can tell about being one of the earliest adopters of bitcoin to my grandkids.

So what are you investing in bitcoin for? Are you looking for decentralization and financial transparency? It is true that Satoshi's purpose of creating bitcoins was to create a transparent trading system and no need for a third party. But so far, bitcoin is a highly profitable investment channel, and people go there for profit reasons. Market participants to this day are looking forward to the wealth that bitcoin brings, you and me included.

He is a good investor, a book writer, and has a consulting business that is making tons of profits per year, which I would say is his opinion, but I don't agree with it. I really like his books, as they are for self-improvement as well as for business, but when it comes to technological aspects, he isn't that familiar with them. He may not fully understand the technology behind the crypto, which is why he is telling those. It is still in us if we do follow his suggestion (which I made big wrong predictions before inflation and depression). But thinking on the positive side, he is just telling us to diversify our investment, not only put it in crypto.

You admitted. He and other billionaires are not stupid, only those who believe what they say to stay away from bitcoin are stupid, and I've never seen anyone stupid become a billionaire. I believe those billionaires also invest in bitcoin, and they say bad about bitcoin doesn't mean they don't invest in it, they talk bad about it every day because they don't want us to invest in bitcoin anymore. Rich people don't want to share their wealth with others, don't believe what they say, watch what they are doing.

I believe when these people use the term "blockchain is great but not crypto" they are referring to the underlying technology as a whole not just the blockchain (ie the database) alone. That includes units of currency but their view is a  centralized form of the technology that would translate into something like the CBDC nonsense.

What the heck are you going on about? He is definitely an idiot when referring to his knowledge of cryptocurrencies and so many posters have already pointed that out. He clearly needs to learn more about BTC.

Honestly, billionaires like him usually say shit about BTC in order to buy the dip and sell when it rises later on which is a clever strategy.

This - just ask the people of Cyprus, Venezuela, Germany in the 1930s, North Korea, China, Russia etc.  Other countries in the future.  Perhaps even the US if the statists get their way and destroy liberty there.

Plus the fact that the value of the asset keeps the blockchain secure.  If you have a cartel that controls the blockchain and don't care about the security, then you really don't need crypto, just a distributed, shared database.  If you want something secure in a trustless environment there has to be some value there to secure or else who is going to care?

God, I don't know how but what you have said its true, Pretty much all of them are in the United States.


and you have good point

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I mean right know what is the investment who doesn't have risk those people believe in some kind of instrument but don't believe in other. Everything always have the negative side even the mutual fund, stock, or even government bonds

Since I have become a fan of cryptocurrency, I have stopped arguing with people on what there benefit of becoming a Bitcoin investor would be because I know that you can not successfully argue with some persons.
They will always bring out weak facts a out cryptocurrency especially the odd aspect just to discourage you or win any argument with you. This is not a time to argue about what Bitcoin could do for us including the benefits but to concentrate on helping people that are interested in Bitcoin and want to be an investor.  This is not the time to listen to the weak opinion of people discouraging the adoption of Bitcoin.

Yes you are right, it is really just that there are people who do really got jealous or envied someone in regarding their financial status whether its a millionaire or billionaire which come to think that they do work

hard before they do able to reach up that state and this is why its up to their own view and perspective on whats Bitcoin or crypto to them.If they do hate it then so be it but if not then its up to them.

This is why we shouldn't really mind others opinion and perspective because it would really just stress you out and in something that arent your business.
Mind your own always and it would be more worth on spending up time.

Having a different opinion and point of view doesn't make anyone an idiot.  He has proven himself as his strategy of investment makes him a billionaire so he might think that he has the authority to express his belief in Bitcoin and blockchain.

The person may be uninformed about Bitcoin and blockchain but that does not make him less intelligent than us.  Remember he has his own specialty and he proves his way and strategy are enough to make him a billionaire.

It would be interesting to know if Ray Dalio invested in bitcoin, how would he react about it? And if he became a millionaire billionaireat with bitcoin, then how?

I'm sure he only speaks well of the Uber and investing in it because he's been so successful at it. In general, I want to say that very often the opinions of famous and public figures can be biased. Don't need to immediately take their opinion as the truth, because they are also people and can be wrong.

I think Ray Dalio most likely knows very little about bitcoin and does not fully understand it.

You (OP) gave an exact analogy with Dubai and oil. Maybe you should voice it to Ray?

They're not afraid of people getting rich all they afraid is people is adapting to decentralized monetary system which makes billionaires to become powerless so they are pushing the governments as hard as they can to suppress the growth since we are at the earliest stage of its adoption.

But Bitcoin isn't made to make people rich either it's solely created with complete transparency when it comes to transaction no third party needed for any transaction to happen.

its more of a "dont put all eggs into one basket" investment advice
yes some cryptos. like say ethereum is being artificially held up by a bubble value right now due to arbitrage and how ether is locked and not doing its own price discovery right now. so has yet to see the "PoS" value correction to the new 95% lower production cost(bottomline value)

so yea some currencies will see value crashes once stakes can be unlocked and start hitting the market selling at profits with new lower costs of 20x lower 'minting' cost average compared to last year

however bitcoins value is in its lowest efficiency mining cost region which is $15k+ meaning bitcoins price is still in its cheap value region and not at a ATH region(last $70k). and as long as hashing grows to keep the bottomline cost going up. bitcoins store of value % is in a great "green happy zone" (just dont buy btc at a premium ATH price(expect corrections after ATH's))

i personally am a long term bitcoin maximalist that sees bitcoin has many mechanisms at play that will and should keep bitcoins hashrate rises and thus value competition going up for many years and thus the competition for underlying efficient low costs increase to higher costs as time goes on. so bitcoin is a stronger investment to trust than say ethereum