Topic: Some Fiat Financial advisors are such hypocrites when it comes to Bitcoin - page 2. (Read 426 times)

Broker and advisor is not the same. One can be an advisor without being a broker. And all the crypto youtubers and bloggers are technically financial advisors who promote shitcoins. Even if someone tells you to buy Bitcoin, you shouldn't instantly trust them. Some scumbags promote trading with high leverage or using shady exchanges that inevitably leads to huge losses.

Everyone wants to be an advisor, it would seem that way to me.

Unfortunately a lot people people don't have the know-how that every advisor needs and wants. A lot of them are just pretending to know something about anything and that casts a bad light on the real advisors who do know what they are talking about.

I think a lot of these fiat financial advisors who are hypocrites about Bitcoin are the first kind of advisors. Please do not pay them any attention.

A real financial advisor who understands Bitcoin would definitely be a coiner, themselves.

And more importantly, there are, now, much more resources to study and figure out what the hell is it. If you weren't into cryptography, programming etc., in 2009-10, you would have a hard time understanding what's bitcoin, what's the problem that it tries to solve and how.

Probably only those who forgot some sort of password and got access years later. We witness such cases every once in a while.

You are so right about the No.3 on your list, btc or crypto investment is literally the simplest and easy investment I know of, before the cryptocurrency era, investment used to be for influentials and professionals mostly, not for anyone. But crypto changes all that and makes it easy for people from the grassroots to be able to invest.
And this simple yet important part of crypto is among the many reasons financial advisors won't speak good of btc because the number of clients has been reduced drastically.  People can invest comfortably without seeking the help of a financial expert.

Who cares? Even I don't have time to see any kind of talk show lol. How would I hear their advice? They are fiat financial advisors and of course, they are doing their job. Nothing wrong, very rarely do they have knowledge about Bitcoin or they can't go against fiat. In a country, there won't be two currencies, to be honest. So fiat financial advisors should only focus on advice based on fiat.

However, we are alive in the Bitcoin world since we are active forum members. We don't need to hear the lecture from a fiat advisor nor its much useful for us lol. We believe in decentralization and Bitcoin, we will continue with that.

In my opinion, there is nothing to take seriously about the interview of the state financial advisor on television. It will only be a fleeting and boring spectacle. People tend to turn on the TV for entertainment, and many who watch will be sicker of seeing financial advisors talk about Bitcoin. The proof of course we can see the impact after the interview? there isn't any

Well, as long as bitcoin continue to be a threat to fiat, then expect that some financial advisors will always go against with bitcoin too, and i think we bitcoiners are used to it and does not find any relevance at all. So better ignore them for all we care. After all, its them that they miss the chance to experience what bitcoin has to offer, and luckily for us that we did not become close minded and now we almost experience financial independence with the help of bitcoin.

Because that's their heinous task in providing bad food for society. Do not be surprised that Bitcoin has become commonplace among the people and they can already distinguish what Bitcoin really offers. Despite the fact that they launched a bad attack from a financial point of view, we can see Bitcoin adoption in every country increasing. This means that there is no significant influence from annoying chatter by people who do live on paper inflation. In short, what is being discussed is simply not wanting the money to go out without the knowledge and supervision of the state financial agency.

Financial advisors are only allowed to voice opinions that are pre screened and approved by the broadcast network and affiliates.

The coordination and appearance of a "unified front" might make that apparent via logical deduction.

People aren't prone towards having the same opinion and views on topics as controversial as abortion, cryptocurrencies, gun laws or bitcoin.

If everyone on TV says the same thing, the probability of their views being screened and controlled are decent.

This is a great example of the need for independent media which is less prone towards conflicts of interest.

Anonymous bloggers can be more honest and reliable in contrast to most major media sources.

Most professional journalists I have seen in recent times are so bad at what they do, its shocking to me that anyone listens to anything they say.

May be the owners of the TV show willingly invite those people who are against bitcoin at first place.
May be those speakers are being paid by other bitcoin haters to speak against bitcoin.
It can literally be anything but the only thing we should be concerned about is that we should highlight why bitcoin is so valuable.
The power of owning your money and using it on a peer to peer network is very fascinating and I think this is why people will eventually start using bitcoin across the globe.

It' is not surprising because every person will like to protect the interest of were is benefiting. If you are protecting or promoting fiat currency op, and you are receiving much from the work, you will never condemn the interest of fiat but Bitcoin. Now some of us have study bitcoin and invested in bitcoin very well, and nothing will make us to value fiat more than bitcoin, rather bitcoin will be recognized and values until the person's eternity. I financial advice is kind of financial promoters so whatever they said, is of the detriment of their business and their own. When cryptocurrency person also call for invitation, it will do same thing to promote Bitcoin and condemn fiat

As a financial advisor I can speak to this topic and for the most part I would agree with you. The reason I became a financial advisor is because I wanted to truly help people out and make a difference in their lives, regardless of my bottom line. A lot of financial advisors are truly like this, same way they are with owning precious metals, they want you to buy PM equities instead of physical metals because they don’t get paid on it..but not all are like this. Also the regulation part does not scare us.

It is a mistake to look at the past and think that in 10 years you will get the same result or a result similar to what happened in the past because the rate of increase will not be the same, meaning investing $100 today will not achieve the same return that it was 10 years ago.
The good side of Bitcoin is that it is still in the beginning, so if the demand continues to grow, betting on it in the long term is much better than betting on paper money or gold.

As an investment, it is better to avoid any investment that you do not understand, no matter what the return on this investment is.
If you do not understand how to manage your private key or protect your money, there is no point in buying Bitcoin.

As for listening to the advice of these locals, do not take it from an emotional side, but rather think and do your own research, meaning listen to everyone, think and conclude for yourself.

I've got the point where as soon as someone on TV starts talking about Bitcoin, I roll my eyes, and just turn it off. They rarely have anything of substance to say. Usually, the same regurgitated crap that everyone else says.

You're right though, they have bias for speaking that way.

So, while I do agree with most of your points. This is where I don't agree, while buying Bitcoin might seem easy from a user that has been doing it over several years. You present the idea to a person of the general public, and they wouldn't have a clue. I still have people around me asking whether you can buy real things with it...that's how misinformed the public are. That isn't of any fault of their own, the news has pushed this idea that Bitcoin is rather worthless, and limited, which at the beginning could have been somewhat true, though times have definitely changed.

Anyway, the reason I disagree with this somewhat is; basically as soon as you buy Bitcoin you're effectively your own bank. So, if you wish to hold a large amount of Bitcoin you do need to be security conscious, and hopefully have some knowledge about it. Now, this isn't common knowledge. Securing money is something we've relied on banks for years, and years. We don't need to have any knowledge to rely on these, since they do all the security work for you. Whereas, that isn't the case with Bitcoin. Obviously, users like you, and I might see the lack of a third party as beneficial, but not everyone will due to the lack of belief or knowledge they have.

Effectively, to be able to purchase Bitcoin, and secure it properly you need to learn about common security practices i.e strong passwords etc, isolation be it physical or virtual, and the drawbacks of that. Plus, social engineering prevention, securing credentials, and/or wallets physically.

There's a ton of work including learning the software that Bitcoin relies on i.e Bitcoin wallets. This is much more than just linking up your bank account, and buying some Bitcoin. That suggests that the person is leaving their Bitcoin on the exchange, which is definitely not recommended as we all know.

Fiat as become somewhat easy to use over the years, Bitcoin has a long way to come, and probably won't ever be as simple as fiat, due to the fact you cut out the third parties which do much of the work for you.

It's kind of like how people who get paid to advertise stuff really. You don't exactly say the negative stuff upfront to the viewers, that'd defeat the whole point of you advertising it. It's either you praise the product/service to the heavens or put down other similar or compared products/services to hell. It's nothing new, always been a part of shows like these.

And in the first place, I don't even watch TV anymore. It's been forever since I've even touched a TV, let alone watch on it.

I don't watch TV, so I didn't know it was a thing (and I don't think it is a thing in my country on TV, actually). I do agree with the op that it sounds like they are undermining Bitcoin just because they feel threatened by it and feel like it's in their best interest to scare potential clients away from something volatile and something they can invest in on their own. That's why it's great when TV shows mention cryptos in a positive or at least neutral way, to sort of balance the negativity of the talk shows.

Well, I bought some bitcoins back in 2013 for something like $700.... so I made a massive profit on it and it did not break my Bank.    How many people will not have tried to spend $100 on something with a high risk... if I dropped a lot more into it, when it was still highly controversial to buy it. 

Even if you bought at $1000 / $2000 / $5000..... it would have given you a massive profit... if you had the balls to hold onto it.  I also think...calling Bitcoin a high risk investment... is not silly at all. In my opinion it is still in it's experimental phase, because we do not know if the tx fees will be enough to sustain the mining... when the Block reward fall away. 

I will label it as a high risk short-term investment ....or a medium risk long-term investment. 

You do realise that they are on the talk show and which means they are either there to increase their own resume columns, get paid, have nice free coffee and stuff?

Today’s world is all about what you see, listen and believe in. For me Warren does not matter but Elon does because I’m in crypto and I would always follow person who has same faith and whose developing this side of ecosystem.

In similar fashion, I wouldn’t care what talk show expert says! If someone’s talking positive about crypto on talk show then I’m fan, because that’s what I want to believe.

Plus, how many of the 2010 Bitcoin holders held their Bitcoin up until today without ever selling?  Think of the risks of investing and going through the 2015 crash.  Then the 2017 - 2018 one.  I imagine more than half of them were gone by 2015's crash and the larger part of the wallets that have not moved since 2010 up until today are either lost wallets, the owner died, they forgot the password or location of their coins or finally, the holder had hands and balls of steel to simply hold which I can not imagine happening in real life.  I doubt any of us would be emotionally capable of going from $100 to almost $30,000,000 without ever selling.

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Regards,
PrivacyG

I don’t know why someone gets upset when they hear or see that someone has a negative opinion about Bitcoin? Whether it's just ignorance or someone being paid to say negative things doesn't matter at all as long as we can check if something is true or not without blindly believing anyone.

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It seems so simple, but is it really so?

- Does one average potential investor know the difference between Bitcoin (BTC) and various clones also called BitcoinXXX? People buy what's cheaper, and they often buy altcoin, and it's even worse when they send that same altcoin to the wrong coin address - so have someone explain to them how to fix it...

- In case someone still buys BTC on their local crypto exchange, will they keep it there or move it to a non-custodial wallet - do they know what an on-chain fee is and what a service fee is?

- People who approach the Bitcoin investment without knowing exactly what they are getting into are very likely to fall victim to scams, hacks or sell at a loss in moments like the ones that happened recently.