Possessing money doesn't always equate to your level of intelligence and this guy is basically a great example to prove my statement. I respect his opinion, but I completely disagree with it for various reasons.
There will always be haters of BTC, but there will always be supporters too like us which is all that matters at the end of the day.
Topic: Another story telling how billionaires hate bitcoin? - read over quick coffee. - page 2. (Read 350 times)
February 23, 2023, 08:50:21 AM
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February 23, 2023, 07:57:47 AM
It's okay if he asks because maybe he doesn't really understand what bitcoin is, what blockchain is and things related to bitcoin. What's important is that we have a purpose in investing in bitcoin and not think about what other people say because they might not like crypto. They can say all kinds of things about crypto, especially bitcoin and we can't change that. So it's up to them and if they still don't want to invest in bitcoin, we shouldn't pay attention to him.
February 23, 2023, 07:33:44 AM
Uber is dying too in most countries because of bike taxis and people can afford their own cars so he is just doing it for publicity stunt or just blabbering cause he himself afraid of his investments return in future.
For any investor crypto is just another investment and if they find something better they can move on and the volatility also high with crypto there is no denial in the fact but cryptocurrency proved all these oldies were wrong since the beginning and growing strongly.
For any investor crypto is just another investment and if they find something better they can move on and the volatility also high with crypto there is no denial in the fact but cryptocurrency proved all these oldies were wrong since the beginning and growing strongly.
Honestly, I don't believe what billionaires say about bitcoin or cryptocurrencies because they know bitcoin's lucrative potential, and they don't want people to get rich quickly and on par with them. They are afraid of that happening, so they always talk bad about bitcoin to keep people away from bitcoin. I believe there are many billionaires who are quietly investing in bitcoin, they are not stupid enough to not see the potential of bitcoin, but they do not want equality in this world.
February 23, 2023, 07:07:02 AM
Uber is dying too in most countries because of bike taxis and people can afford their own cars so he is just doing it for publicity stunt or just blabbering cause he himself afraid of his investments return in future.
For any investor crypto is just another investment and if they find something better they can move on and the volatility also high with crypto there is no denial in the fact but cryptocurrency proved all these oldies were wrong since the beginning and growing strongly.
For any investor crypto is just another investment and if they find something better they can move on and the volatility also high with crypto there is no denial in the fact but cryptocurrency proved all these oldies were wrong since the beginning and growing strongly.
February 23, 2023, 06:49:43 AM
What I admire most about Ray Dalio is his book about World Changing Orders and Rise and Fall of Empires which he emphasizes many times that a war is necessary to be able to have peace. And this also is decided by them, probably by the WEF.
I have not read the book but since you cherry picked about necessity of war [from him], here is what I think.They do not war against each others to have peace but to seize power from one hand to other. They sell peace to war but evil behind it is the power seeking. It has long history but let's consider from Dutch to English, English to US, now US to to be continued. You think any of them were to establish peace? Think twice.
As we write, there is already war right now between Russia and Ukraine.
How then, does the peace come for everyone? It's illogical when you think about it.
"Blockchain is great, but Bitcoin/altcoins freakin' suck."
I freakin hate this one. It's mostly being said by those who hate bitcoin/crypto, but acknowledges blockchain so they wouldn't sound like a tech/innovation snob.
The funny thing is, there is no blockchain without the units of currency that fill it (call them Bitcoin, altcoins, or whatever you want). I'm not sure why this part is so difficult for people to understand.
February 23, 2023, 06:30:25 AM
Since he is an investor, it's not surprising that he sees Bitcoin primarily as an asset. And if we do that, he is correct that new assets can appear, attention to some other investment opportunities can replace attention to Bitcoin. Where I disagree is in the part that Bitcoin is just an asset while blockchain is technology. Bitcoin is a revolutionary type of money, a currency that isn't issued by any authority, that can't be faked, the price of which cannot be regulated, and where there is no limit of who can participate in issuing new coins as long as a person has financial means to purchase equipment with which mining would make sense nowadays.
Apart from all that, it's unfair to disregard how successful Bitcoin has been as a long-term investment option, how much it has grown and from what sort of lows it managed to recover over and over again.
Apart from all that, it's unfair to disregard how successful Bitcoin has been as a long-term investment option, how much it has grown and from what sort of lows it managed to recover over and over again.
February 23, 2023, 06:30:16 AM
What I admire most about Ray Dalio is his book about World Changing Orders and Rise and Fall of Empires which he emphasizes many times that a war is necessary to be able to have peace. And this also is decided by them, probably by the WEF.
I have not read the book but since you cherry picked about necessity of war [from him], here is what I think.They do not war against each others to have peace but to seize power from one hand to other. They sell peace to war but evil behind it is the power seeking. It has long history but let's consider from Dutch to English, English to US, now US to to be continued. You think any of them were to establish peace? Think twice.
Quote
They all decide who to put to govern the country and the government. It's necessary though. I can understand we want the market to decide prices but it's not gonna make a peaceful place because the rich too can lift the price of the grocery item.
The rich are minor in numbers in any community. In an open economy let's say they are 1%, this 1% can not make any difference for 99%. They can now because they set the rules using the power of the politicians and law makers. February 23, 2023, 03:06:20 AM
I don't really understand why they care in the first place. They already have money enough for their children to live without work, What difference does it make what others buy for them? Old guys in governments, finances, and leadership positions ruin things for the young really often.
February 23, 2023, 02:55:45 AM
You can not believe those rich influencers. They are rich but it does not mean they are honestly with what they said.
Many rich influencers simply said they hate Bitcoin that is scam, dead and whatever bad words against Bitcoin. Later they integrated Bitcoin into their business and said in interview that I invested in Bitcoin years ago.
Trust them, please don't!
Bitcoin is open source and there are opened documents to learn about it. Read to learn by yourself and build up your knowledge then belief in Bitcoin. Verify with learning and your belief will increase by knowledge, not by influencers.
If you need an example, the shark who supported FTX, a brand ambassador of that collapsed exchange and has never stopped attacking CZ and Binance. Years ago, he said Bitcoin is scam and months ago, in an interview he leaked that he invested in Bitcoin circa 2017 or 2016.
Many rich influencers simply said they hate Bitcoin that is scam, dead and whatever bad words against Bitcoin. Later they integrated Bitcoin into their business and said in interview that I invested in Bitcoin years ago.
Trust them, please don't!
Bitcoin is open source and there are opened documents to learn about it. Read to learn by yourself and build up your knowledge then belief in Bitcoin. Verify with learning and your belief will increase by knowledge, not by influencers.
If you need an example, the shark who supported FTX, a brand ambassador of that collapsed exchange and has never stopped attacking CZ and Binance. Years ago, he said Bitcoin is scam and months ago, in an interview he leaked that he invested in Bitcoin circa 2017 or 2016.
February 23, 2023, 02:37:04 AM
See I seperate Bitcoin from "Crypto", like pooya87 i agree 100% about "Crypto being an ineffective
store of wealth" because to me and many others Crypto is just $hitcoins.
Currently with how Bitcoin is valued its still "too small" for a lot of the mega wealthy to
be interested. When it starts to get into the same realm as the likes of Microsoft in terms
of value then its will be interesting to them.
Its true that Microsoft has had a relatively smooth road to travel in 45 years whereas
Bitcoin has been attacked year on year.....and is still here and getting stronger year on year.
store of wealth" because to me and many others Crypto is just $hitcoins.
Currently with how Bitcoin is valued its still "too small" for a lot of the mega wealthy to
be interested. When it starts to get into the same realm as the likes of Microsoft in terms
of value then its will be interesting to them.
Its true that Microsoft has had a relatively smooth road to travel in 45 years whereas
Bitcoin has been attacked year on year.....and is still here and getting stronger year on year.
February 23, 2023, 12:04:21 AM
This is another case of what I've been warning about for the past couple of year. The case where people look at cryptocurrencies and then judge bitcoin whereas they are very different. Altcoins have no usage and what was said here is correct about them. Bitcoin on the other hand is unique and provides a real world utility hence the statements make no sense about it.
Lets see
We have seen this over the years. One altcoin is replaced by another. If you look at the coinmarketcap stapshots you can clearly see this. Although I'd argue that altcoins are not assets, they are gambling tools.
Altcoin investors are fooling themselves and shouldn't "invest" in any of the altcoins. Only bitcoin is a viable investment for the reasons I said at the start.
Altcoins are the stupidest store of wealth since they get dumped and eventually disappear which is because they are useless and will eventually be replaced by another useless altcoin.
For starters Microsoft has been around since 1975 (48 years) whereas bitcoin has been around since 2009.
Besides Microsoft is not attacked by literary everyone spreading FUD about it, restricting access, shutting down bank accounts, banning its usage, etc.
The hype surrounding altcoins is all fake and the price they have is not a representation of their value since majority of them are worthless.
Lets see
Quote
Basically what he suggest is: crypto currencies as an asset can be replaced by any other means of asset, for example a newer form of asset and thus there is no guarantee for it's long lasting existence.
100% correct.We have seen this over the years. One altcoin is replaced by another. If you look at the coinmarketcap stapshots you can clearly see this. Although I'd argue that altcoins are not assets, they are gambling tools.
Quote
According to him it would be better if all the crypto investors find another form of investment for secure future.
100% correct.Altcoin investors are fooling themselves and shouldn't "invest" in any of the altcoins. Only bitcoin is a viable investment for the reasons I said at the start.
Quote
One of the weirdest point he was making is: Crypto do not replicate anything and thus they are "ineffective store of wealth"
100% correct.Altcoins are the stupidest store of wealth since they get dumped and eventually disappear which is because they are useless and will eventually be replaced by another useless altcoin.
Quote
He also pointed out that Bitcoin's total value is a fraction of Microsoft's stock. Hence, in Dalio's view, it is a preoccupation by people that is disproportionate to its true reality.
This is bullshit.For starters Microsoft has been around since 1975 (48 years) whereas bitcoin has been around since 2009.
Besides Microsoft is not attacked by literary everyone spreading FUD about it, restricting access, shutting down bank accounts, banning its usage, etc.
Quote
Dalio is convinced that in time, there will be better digital currencies, such as those that provide the equivalent of inflation and buying power.
That is not possible to do globally since the inflation is not a global matter, it is local. It is also not possible to achieve with decentralization since inflation is again centralized.Quote
He noted that most currencies are debt instruments that offer poor returns relative to inflation, but a good digital currency is yet to be created.
Good thing bitcoin is technically money not currency.Quote
The legendary investor acknowledged the technology behind cryptocurrencies, he believes that the hype surrounding them is disproportionate to their true value.
100% correct.The hype surrounding altcoins is all fake and the price they have is not a representation of their value since majority of them are worthless.
Quote
He commented that people will need to look for alternative stores of wealth, and he believes that understanding the five key forces of the economy, including money and credit, can help investors navigate difficult situations.
100% correct but I should add that in the current economical situation people should find a store of value that is not directly affected by the dumping economy, credit bubble, inflation, ... that makes bitcoin the only choice. February 22, 2023, 11:09:28 PM
His views on the future amazed people compare to the Birkshire guys though but all of them look at the future still with gold.
Gold, silver, crypto none matters as long as you have so much wealth that you are able to give a share of it to the politicians and the law makers of a country. They are the one who decides your fate, make a thing legal and illegal. They don't put the tag for you but for their own interest. Crypto is a path to deny the orders they put on you and find your freedom.I need grocery items, let the market decides how much will be the price of the items and let me pay it with something that is decided by the market too. Bring the power back to the people.
They all decide who to put to govern the country and the government. It's necessary though. I can understand we want the market to decide prices but it's not gonna make a peaceful place because the rich too can lift the price of the grocery item.
What I admire most about Ray Dalio is his book about World Changing Orders and Rise and Fall of Empires which he emphasizes many times that a war is necessary to be able to have peace. And this also is decided by them, probably by the WEF.
February 22, 2023, 10:57:20 PM
"Blockchain is great, but Bitcoin/altcoins freakin' suck."
I freakin hate this one. It's mostly being said by those who hate bitcoin/crypto, but acknowledges blockchain so they wouldn't sound like a tech/innovation snob.
February 22, 2023, 02:18:01 PM
Why give a huge basis about what he say? Everyone has right to express his opinion regarding on what they believe. If he think bitcoin is bad so be it so many people tells a bad word about it but there belief shifts when they see golden opportunity about the cryptocurrency industry. Let those old guys stick to traditional since once digital space boom they will be outdated and eat back the words what he say.
Each one of us does really have that own opinion and words about on certain stuffs on which we would really be that neither be negative or positive towards it.Come into the point in speaking about Bitcoin or crypto as a whole on which we know that not all would really be ending up on having a positive approach into it specially into those who are getting used to traditional thing on which they would really be
always have that something to say on whatever innovation or whats something new in the market.
Hate it or love it, it all matters and depends into them because we do have different perception and approach on different things.
February 22, 2023, 01:57:10 PM
You know what. I kind of agree with this guy.
Bitcoin does not have a guaranteed existence long term. There is this possibility that Bitcoin one day will simply be replaced by a so much better technology.
But. Who cares. Bitcoin is necessary NOW and is in the best form known yet for a digital Currency to ever be in. It may be replaced one day. Or may be not. But since this is the best thing we have now, we use it and we trust in it.
Imagine saying electric cars are not a good investment because they may be replaced at any given time. This is also a valid argument. But this does not mean we are not trusting electric cars. This also does not mean it is a bad investment.
-
Regards,
PrivacyG
Bitcoin does not have a guaranteed existence long term. There is this possibility that Bitcoin one day will simply be replaced by a so much better technology.
But. Who cares. Bitcoin is necessary NOW and is in the best form known yet for a digital Currency to ever be in. It may be replaced one day. Or may be not. But since this is the best thing we have now, we use it and we trust in it.
Imagine saying electric cars are not a good investment because they may be replaced at any given time. This is also a valid argument. But this does not mean we are not trusting electric cars. This also does not mean it is a bad investment.
-
Regards,
PrivacyG
February 22, 2023, 01:03:20 PM
The billionaire Ray Dalio who is successful investor in the Uber, has recently been interviewed on a podcast and has mostly spoken negative about the bitcoin and it's investment.
The guy has mind set where he advices to keep blockchain and crypto currencies as different roads because one of them is technology while the others are just medium to invest your money. Basically what he suggest is: crypto currencies as an asset can be replaced by any other means of asset, for example a newer form of asset and thus there is no guarantee for it's long lasting existence.
According to him it would be better if all the crypto investors find another form of investment for secure future.
One of the weirdest point he was making is: Crypto do not replicate anything and thus they are "ineffective store of wealth"
This is not at all up to the point analysis and anyone would disagree about what this guy has said or trying to convince others. I have literally laughed about his analysis, because he is trying to segregate investment based on a technological advancement VS vehicles that run on it. I mean it is same thing as stating that you should not be investing into Dubai but you can invest in Oil which is getting dug out of their soil(!)
Ray Dalio
The guy has mind set where he advices to keep blockchain and crypto currencies as different roads because one of them is technology while the others are just medium to invest your money. Basically what he suggest is: crypto currencies as an asset can be replaced by any other means of asset, for example a newer form of asset and thus there is no guarantee for it's long lasting existence.
According to him it would be better if all the crypto investors find another form of investment for secure future.
One of the weirdest point he was making is: Crypto do not replicate anything and thus they are "ineffective store of wealth"
This is not at all up to the point analysis and anyone would disagree about what this guy has said or trying to convince others. I have literally laughed about his analysis, because he is trying to segregate investment based on a technological advancement VS vehicles that run on it. I mean it is same thing as stating that you should not be investing into Dubai but you can invest in Oil which is getting dug out of their soil(!)
Ray Dalio
Quote
During a recent appearance on William Green's "We Study Billionaires" podcast, hedge fund legend Ray Dalio expressed his thoughts on the hype surrounding cryptocurrencies, specifically Bitcoin.
The uber-succesful investor stated that he believes there is a distinction between blockchain technology and digital currencies. While the former is an excellent technology, the latter is not a good bet for investors, according to the billionaire. Dalio commented that digital currencies do not replicate anything, which makes them an ineffective store of wealth. He also pointed out that Bitcoin's total value is a fraction of Microsoft's stock. Hence, in Dalio's view, it is a preoccupation by people that is disproportionate to its true reality.
Dalio is convinced that in time, there will be better digital currencies, such as those that provide the equivalent of inflation and buying power. He noted that most currencies are debt instruments that offer poor returns relative to inflation, but a good digital currency is yet to be created.
The legendary investor acknowledged the technology behind cryptocurrencies, he believes that the hype surrounding them is disproportionate to their true value. As an experienced investor, he emphasizes the importance of looking for effective stores of wealth and being cautious when investing in digital currencies. The hedge fund manager also spoke about the current economic environment, saying that creating debt and money is becoming increasingly problematic.
He commented that people will need to look for alternative stores of wealth, and he believes that understanding the five key forces of the economy, including money and credit, can help investors navigate difficult situations.
day/billionaire-ray-dalio-destroys-crypto-hype]Billionaire Ray Dalio Destroys Crypto HypeThe uber-succesful investor stated that he believes there is a distinction between blockchain technology and digital currencies. While the former is an excellent technology, the latter is not a good bet for investors, according to the billionaire. Dalio commented that digital currencies do not replicate anything, which makes them an ineffective store of wealth. He also pointed out that Bitcoin's total value is a fraction of Microsoft's stock. Hence, in Dalio's view, it is a preoccupation by people that is disproportionate to its true reality.
Dalio is convinced that in time, there will be better digital currencies, such as those that provide the equivalent of inflation and buying power. He noted that most currencies are debt instruments that offer poor returns relative to inflation, but a good digital currency is yet to be created.
The legendary investor acknowledged the technology behind cryptocurrencies, he believes that the hype surrounding them is disproportionate to their true value. As an experienced investor, he emphasizes the importance of looking for effective stores of wealth and being cautious when investing in digital currencies. The hedge fund manager also spoke about the current economic environment, saying that creating debt and money is becoming increasingly problematic.
He commented that people will need to look for alternative stores of wealth, and he believes that understanding the five key forces of the economy, including money and credit, can help investors navigate difficult situations.
Nothing actually last for ever, Ray Dalio may not have believed in bitcoin because he's doing well in other businesses but he should verified from other billionaires who are into bitcoin and who knows the value of bitcoin to see if its totally does not make sense. Nobody will say bitcoin will stay forever but is a long term projects that will Carry's many generation along.
In as much he's not interested that's a personal reasons to him but it should influence the public with question of if bitcoin will be a lasting projects, after all even humans can not tell when your life sperm will expired from the earth. Bitcoin is here to stay for longer period of time than expected weather any country, individuals, billionaires or not bitcoin will fulfil its time.
February 22, 2023, 02:21:39 AM
Why give a huge basis about what he say? Everyone has right to express his opinion regarding on what they believe. If he think bitcoin is bad so be it so many people tells a bad word about it but there belief shifts when they see golden opportunity about the cryptocurrency industry. Let those old guys stick to traditional since once digital space boom they will be outdated and eat back the words what he say.
February 22, 2023, 02:00:20 AM
Its marketing guys. He is a fund manager with a traditional investment view. His clients invested in his word view (traditional with traditional type of investments like value stocks). Guess what would happened if he would decide to be a bitcoin ambassador. Most likely he would lose the majority of clients.
Also his view about 99% of crypto is correct. Most of them are replaceable, backed by dream and not even worth research. But I would distinguish bitcoin form other crypto.
Also his view about 99% of crypto is correct. Most of them are replaceable, backed by dream and not even worth research. But I would distinguish bitcoin form other crypto.
February 22, 2023, 01:49:23 AM
I guess that he is one the haters that keep saying "Bitcoin/crypto is worthless because it isn't backed by anything." or "Blockchain is great, but Bitcoin/altcoins freakin' suck.". 
1.Fiat money also aren't backed by anything, but nobody cares about that.
2.Separating Bitcoin from the technology upon which BTC was built is simply ignorant.
Saying that BTC is a bad/ineffective store of wealth because it can be replaced is just nonsense. Every financial asset can be replaced.
Bitcoin isn't supposed to bring security to it's investors, because BTC was never secure in terms of price stability. BTC is always will be risky and volatile as a financial asset. The same thing applies to almost all altcoins.
1.Fiat money also aren't backed by anything, but nobody cares about that.
2.Separating Bitcoin from the technology upon which BTC was built is simply ignorant.
Saying that BTC is a bad/ineffective store of wealth because it can be replaced is just nonsense. Every financial asset can be replaced.
Bitcoin isn't supposed to bring security to it's investors, because BTC was never secure in terms of price stability. BTC is always will be risky and volatile as a financial asset. The same thing applies to almost all altcoins.
February 21, 2023, 08:53:53 PM
Another rich, stuffed billionaire with a negative mentality or is he just trying to gain clout? It's funny how some of these peeps get to stuff their wallets with Bitcoin and still come out to say degrading things is something I still can't fathom.
Regarding Bitcoin to be a "tiny thing" is quite a mean description and despite his status as a hedge fund expert , I think he's got a poor knowledge of Bitcoin and how it operates.
Regarding Bitcoin to be a "tiny thing" is quite a mean description and despite his status as a hedge fund expert , I think he's got a poor knowledge of Bitcoin and how it operates.
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