Topic: Some rich person not interest about bitcoin for following reason - page 2. (Read 721 times)

As bitcoin is technology associated people have got different view on bitcoin. They never find this to be interesting, and think of it as a complicated one. Unlike the stock market it can't be predicted which is a big difference and the volatility used to be very high compared to the stock market. Most of the people who doesn't show interest upon bitcoin is not because of the risk, complication, and other regulatory issues. Already they've found a way to earn better, what for most of the people get into bitcoin. Not for the technology that stands unique, but to make money.

I agree with you who don't like investing in Bitcoin because they don't know how to make a profit from the investment they make with Bitcoin and they also won't be able to learn about Bitcoin because they don't like it or they already know an easier way to make money easily.

And if they do have that kind of point of view then let it be, if you do try to make some explaination then it might really be ending up on some long discussion or even a debate on which it is really that pointless if you are really that trying out to win against on someone who are not a believer or something that do really accepts any new ideas. For some then they might really be able to welcome some good opportunity or new ideas on which it might result into some good introduction of Bitcoin into other people but since we are talking into those rich person who had able to acquire their richness via with those traditional investments or things then they are the ones who might not really be that easily believe into something which is speculative and highly volatile on which i couldnt really blame them.

It would really be just that too impossible  that they wouldnt really be able to think up things and could be able to balance out on whats risky and whats less risky. This is why they would really be
deciding on what are the things that they would really be gonna deal off with and what are the things that they must avoid.If on the time that you do make out some explaination or introduction with
these kind of people and rejects out on the things you've been trying to explain then it wont really be that a bad idea on turning back directly and dont force them to believe
on something that they arent interested.

First of all, there is no need to force any one to join Bitcoin investment or trading. If your friend isn't interested, it is okay. It means your friend is still not sure about Bitcoin and he doesn't understand the advantages of Bitcoin. He may already learn it, but he misses the part of the potential of Bitcoin in the future. Anyway, even if it is true that there are few people only who have a huge number of Bitcoin, it is never proven that it can destroy the market. We already experienced it for many years, and it doesn't influence much to the market activity. It is just his own assumption because he still doesn't understand enough about Bitcoin.

Hehehehe... It's really soothing, reading that from your masterpiece. You know how our discussions (in divergent views, of course) on CZ always went 😏. Sincerely, what you said there is the undiluted truth. The services these people have created around Bitcoin helped to further deepen its publicity. Whether we like it or not, CZ remains a force to reckon with in cryptos. We can say his exchange and other crypto creation of his are centralized and shouldn't be trusted but this is Binance's 6th year in this industry and still waxing strong. CZ looks like one who's capable of breaking more grounds in years to come. He isn't done yet.

it is totally his choice to make the decision to invest or not to invest in Bitcoin based on whatever reason that he choose to hold on to. And let me reiterate this here, Bitcoin isn't the only profitable thing one can invest his money into, there are lots of other ways one can make investment depending on what the person feels comfortable with. I know a relative that has a lot of money but wouldn't want to make any investment that is outside of business. He feels that since he can see the physical business and monitor it growth, he his satisfied with that. Others might not think in that direction but you just have to allow them be and stick with what works best for you.

Well, we all have different opinions on Bitcoin which is actually normal. Even if you say that there are only a few people holding Bitcoin, the market still depends on its volatility Bitcoin's potential for the long term for sure would increase its value but its current value would be volatile. If your friend is already rich and doesn't want to invest in Bitcoin, I think it's more like his preference, because he might get rich in another way cause if he'd make money in Bitcoin, he wouldn't doubt it. Some rich people find alternative investments other than their source of money like from their business than putting them into a bank. I also think that your friend might not be knowledgeable enough in the crypto industry but has other ways of making money where he's much more skilled and smart.

Your topic just crossed my eyes now and I believe it's worth replying as perhaps it might change the mind of your friend. If it couldn't, then all the best to your friend. But one certain thing is that he will be the one to lose as Bitcoin will shame all doubters over time as it always does.

Specifically, your friend has a misconception about the fact that a few people are controlling Bitcoin. Bitcoin whales are many and most of them don't know themselves, while many are not even recognised people in society talkless of naming and linking them. So how would your selected few control it? By the way, 219 million people have Bitcoin according to statistics and it is a well-liquid market with presently over $700 billion which keeps growing. There are many precious metals and stones that have not reached that status despite being known and traded for centuries.

In the next 1.3 years, I'm sure your friend will regret not buying it, and mind you, risk-taking makes more riches. Bitcoin is a reasonable risk for that matter, he should think twice.

because basically financial issues are very sensitive to talk about, so we don't need to bother digging deeper into other people's financial problems,
If they don't own Bitcoin, it's possible they are already too rich and don't want the headache of seeing Bitcoin price movements fall very quickly and take months to reach a new ATH.

Let them miss out on the technology they think negatively. That's the correct mindset, instead of wasting your time, just show them the result of your investment. The day will come when they will regret their choice of not paying attention to this technology.

Most likely, these few mentioned people are those who have seen the high potentials of bitcoin more than the majority, that’s why they make sure to grab theirselves maximum amount of bitcoin that they will surely benefit the most in the future. But we all know everyone is free to accumulate bitcoin, it’s just that the capacity of an individual to invest also depends on his financial condition.

However, everyone is entitled to have its own views and concepts about bitcoin. And if his own concept is negative,  then that’s mainly the reason why he’s not into bitcoin and is not planning either. But let’s see if he won’t change his mind in the future when everyone else is talking about bitcoin.

It's normal for a person not to be interested after they learned from it because it's not in their taste. But the way he respond has nothing difference with the most people who refused Bitcoin. We have nothing to do with them but to make them realize that Bitcoin is not the same as they think. Most of my friends are interested in Bitcoin but the only problem is that they don't have enough money to invest. I see their interest and I look forward for it. If ever they have an extra money I'm sure they will going to invest Bitcoin. Their mindset is somehow different from people who really stable in life.

Your friend, in his opinion, wants to protect his money. It is important that this thought is his own rather than whether it is right or wrong. The money is his and the decisions are his. There is no rule that says everyone should invest. Choices determine our lives and we make choices in line with our goals. If your friend has reached the level he wants to reach, the rest may seem simple or not worth trying.

Since the concept of wealth can vary from person to person, knowing your friend's wealth level may allow us to make an easier interpretation. As I said, everyone's decision is their own matter and there is no rule that says everyone should buy Bitcoin. If you invest at the right time, you can become richer than your friend.

In the world of cryptocurrencies, your friend's worry over the concentration of Bitcoin ownership among a select few people is not unique. The terms "wealth centralization" and "whale dominance" are frequently used to describe this ownership concentration.
It's critical that your buddy bases their investing selections on their personal risk tolerance financial objectives and market knowledge. Though legitimate worries around wealth concentration are only one facet of the larger bitcoin scene

While early adopters of Bitcoin should be commended for their vision and daring, there's more. Isn't the goal of the Bitcoin ecosystem to foster collective growth rather than just individual victories? The problem is that Bitcoin deviates more and more from its decentralized ideal as ownership grows more concentrated. The goal here is to preserve the equilibrium that distinguishes Bitcoin, not to incite jealousy.

But keep in mind that even though whales impact on the market may be indirect, it is nonetheless substantial. Although they may not cause a sudden tremor in the market, over-the-counter transactions gradually mold it. What about the liquidity that absorbs any sell-off? While optimistic, that cannot be assured.

Rather than just accumulating more Bitcoin, the goal should be to increase its appeal and accessibility. The true power of Bitcoin is found in its broad use and acceptance rather than in the size of a small number of large wallets.

Rich persons who are conservative when it comes to their wealth and not risk-takers are just being careful and we cannot blame them because they have their own experiences and stories concerning their money. Let's just focus on those companies that are not affected by these decisions rather they still update their companies or platforms by adopting and putting bitcoins as options for payments and other transactions. They know what they might lose in this new financial innovation but they took the risk as a real businessman and supported bitcoins as far as they could.

I guess this your friend that is rich is a business man, so if he thinks that bitcoin is profitable and majority of it in the hands of a few individuals, as a business man, why don't he join these whales and control the bitcoin market. I'm guessing that he doesn't see bitcoin, as the kind of business that he'll want to be involved in, instead of giving the excuss of a few investors holding large numbers of the coin.

Despite this whales holding majority of bitcoin, other rich people and the ordinary man on the street are still benefiting from their investments, if it were not to be so, left in the hands of whales alone bitcoin adoption would have diminished significantly, perhaps leading to it's death. But this is not the case today.

This is to be expected in any big establishments, major share holders call the shorts, and if it's not favourable to any investor, all they need do is sale off their assets. So if these big investors control the bitcoin market unfavorably, then there's nothing stopping  others from selling all their bitcoin.

OP, in as much as I place much value to individual opinion towards bitcoin, I will not buy to such excuse by your friend, yes, the major bitcoin hodlers and investors can decide to withdraw their investment if they want, this action may awaken unstable position in the crypto industry as whole no doubt but what am not sure is, collapsing if the system, come to think of it, why is that people restrict themselves from this investment by initiating negative mindset, I can say it anywhere, Bitcoin has come to stay, giving this investment a benefit of doubt won't be a bad idea, I know that your friend was outlining future possibility, this stuff can discouraged people that want to come into the industry, I think we should do what we can, though no financial advice.

It's not the faults of this people for owning a large sum of Bitcoin, it's their reward for believing in Bitcoin when others didn't and refused to invite just as your friend is doing now. Also I think some of them creating a service that helped in the popularity of Bitcoin like Cz launching an Exchange (that no matter how we don't like him, he has helped in the popularity of the currency).

As we have more people like your friend (which we do) keep saying they don't want to invest then they're giving more opportunity to this whales that he's afraid of them owing more Bitcoin to keep on accumulating more Bitcoin because they believe in the currency and will be buying more whether people like your friend buys or not. If we understand the power and benefits that Bitcoin holds, we won't be bothered about what others own but more concerned about the quantity we can own ourselves.

Those guys won't want to sell their Bitcoin because they still understanding the potential that Bitcoin holds and them having a large quantities of Bitcoin puts them at the top of the food chain so instead of selling they'll be looking to add more to their bag. Also if the whales are selling they won't likely be doing that on exchanges but Over-the-counter (OTC) and it won't have any impact on the market. Also as the Bitcoin gets more adoption we'll have more liquidity to cover up any amount they want to sell and it won't have any or little impact to the market.

Like my wife, I explained it to her, like how the market works and everything. Yet she still don’t want to invest in here. She tried to invest, but in the wrong coin. We ain’t rich, but the way she think is like rich. She carefully manage our money.