Some rich person not interest about bitcoin for following reason - page 3.

atamism

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Quote from: legendbtc on November 17, 2023, 12:44:01 AM

Quote from: Wakate on November 16, 2023, 01:06:48 PM

Quote from: SAHASAN on November 15, 2023, 10:07:25 AM

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

I am still trying to understand to understand your write-up since it looks like a phrase to me. You said your friend choose not to invest in Bitcoin because Bitcoin is small or what? I do not understand what you have written do far and I hope you can elaborate because your sentences do not really make sense to me. You need to ponder on what you have written so we can understand you quite better.

There are many people that are eager to invest in Bitcoin because they have been seeing results of other investors who had invested in it with profits. The door is opened to everyone to buy and hold Bitcoin for as long as they are ready to hold before selling.

What OP wants to say here is that his friend knows about bitcoin but he doesn't show interest in bitcoin due to some reasons like many risks, manipulation... and if add the title then, it can be understood that OP's friend is a fairly wealthy person. In short, many rich people show no interest in bitcoin, which is what I understand.

Many people want to invest in bitcoin but not all. Not everyone after learning about bitcoin likes it and will invest in it. This is completely normal and they all have their reasons. I also have a few friends who know about bitcoin but they never seem to be interested in it because they also have their own stable jobs.

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.

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Quote from: Wakate on November 16, 2023, 01:06:48 PM

Quote from: SAHASAN on November 15, 2023, 10:07:25 AM

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

I am still trying to understand to understand your write-up since it looks like a phrase to me. You said your friend choose not to invest in Bitcoin because Bitcoin is small or what? I do not understand what you have written do far and I hope you can elaborate because your sentences do not really make sense to me. You need to ponder on what you have written so we can understand you quite better.

There are many people that are eager to invest in Bitcoin because they have been seeing results of other investors who had invested in it with profits. The door is opened to everyone to buy and hold Bitcoin for as long as they are ready to hold before selling.

What OP wants to say here is that his friend knows about bitcoin but he doesn't show interest in bitcoin due to some reasons like many risks, manipulation... and if add the title then, it can be understood that OP's friend is a fairly wealthy person. In short, many rich people show no interest in bitcoin, which is what I understand.

Many people want to invest in bitcoin but not all. Not everyone after learning about bitcoin likes it and will invest in it. This is completely normal and they all have their reasons. I also have a few friends who know about bitcoin but they never seem to be interested in it because they also have their own stable jobs.

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Quote from: SAHASAN on November 15, 2023, 10:07:25 AM

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

His concern is valid that the whales with loads of Bitcoin can indeed cause the market to go down if they sell off huge amounts. But here's the thing, the crypto market's kinda resilient and used to those kind of thing. Sure, the market might crash, but it tends to bounce back over time. Look at the charts and see how many crashes it has recovered from! There are whales that invests in stock markets, but does that stop your friend from investing there? Your friend might want to dig deeper into how the crypto market works, like its history of ups and downs. It's about playing the long game and not getting spooked by short-term volatility. As long as he is never investing more than he can afford to lose, he should be fine.

Publictalk792

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I understand your friend is worried about Bitcoin but it is important to think about a few things before rejecting Bitcoin. Some people have a lot of Bitcoins but that do not think they can control the market easily. Because Bitcoin is decentralized so it is hard for one person to control its value.

Many companies now accepts Bitcoin as payment. This shows that people trust it more and more.Governments are also starting to recognize and regulate Bitcoin and we have an example El Salvador.
And if he us thinking about the value of the Bitcoin so if it will go down so definitely it will recover itself and will come up with great potential and cross it's ATH again and again.

I will recommend if he want to invest in Bitcoin so don't think about it just dive into it and believe on it. If you will believe it so it will give you benefit. Just buy and believe.

AnonBitCoiner

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The decision of your friend is depend on him because no one can force others to buy bitcoin. May be he has no need to expand his money. Actually bitcoin investment is suitable option for those who have courage to work hard and wait so those individuals who don't express any interest hardly will buy bitcoin and if they buy then they will not be able to take profit from it as interest is the main thing.

financial system is understand by a person himself and no matter what we are saying they will always prefer their interest so don't try to know that why people are not buying bitcoin because we can only talk but reality is hidden so leave everyone on his own position.

Fuso.hp

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Bitcoin is only for a small number of people but it didn't become so popular Bitcoin only became such a popular currency when people around the world adopted Bitcoin. Your friend has some misconceptions about Bitcoin. Maybe some people have a lot of bitcoins and if they sell all their bitcoins in a moment maybe the market will dump a bit temporarily but the market will not be permanently dumped. One will sell and one will buy like this but the market will move forward. If this fear keeps us from investing in Bitcoin then we have a low understanding of Bitcoin. Earlier also we saw that Space X sold a lot of bitcoins due to which the market went negative for a while but within a few days the market came back to a good state. .

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Quote from: famososMuertos on November 16, 2023, 02:45:14 PM

It is a poor argument that tends to have some persons, but if it bothers them, so, buy 1000 satoshi, the mistrust or fear of risk in having bitcoin can be resolved by just investing what you can afford to lose, the other novelty is that if you do not trust bitcoin it is better not to buy, since that is its main value, more than the price itself.

Unfortunately they don't try to understand what is meant by risk management behavior and I am sure that the motivation for rich people not to get involved in bitcoin is not influenced by risk, but rather the difficulty for them to understand the level of price fluctuations because basically they don't study bitcoin properly. The risk involved is even greater when they undertake business or other activities related to money. The question is why are they not afraid and do it anyway?

The answer may be simple because they master what they do and the key is that they understand it first before getting involved in it. If rich people are a generation behind technological advances, there may be many reasons for them not to be involved in bitcoin, but it seems strange for rich people in the era of digitalization not to be interested in bitcoin.

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It is a poor argument that tends to have some persons, but if it bothers them, so, buy 1000 satoshi, the mistrust or fear of risk in having bitcoin can be resolved by just investing what you can afford to lose, the other novelty is that if you do not trust bitcoin it is better not to buy, since that is its main value, more than the price itself.

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Quote from: leonair on November 16, 2023, 11:26:45 AM

Quote from: demonica on November 16, 2023, 05:48:34 AM

Well we can conclude that not everyone will be interested in Bitcoin no matter how much we try to explain it to them. Also, people will always have different opinion regarding Bitcoin. If he's rich enough, then there's no need for him to explore crypto especially if he's not interested since he's already earning a lot of money on the field he's on. And Bitcoin isn't something you can just understand within a short period of time without learning and exploring it. It's an investment. Maybe he doesn't want to exert much effort or maybe he has no time to learn about Bitcoin. So if I know someone who's not interested in Bitcoin even after explaining it to him, then I'll let him be. It's hard to persuade someone who's shows no interest in the first place.

Yes it may be that we are not able to explain science to rich people. They have enough money so they can't do it the way we think of Bitcoin and they don't feel the need to think that way. This is because when we try to convince them about Bitcoin, his focus is not on us, he is more concerned with other mediums. That's why they don't want to understand these things but if you can explain them properly then they will be attracted to Bitcoin too.

It’s not the knowledge but the interest itself. We’re not required as well to encourage them; we let things happen. Some rich people are not interested with this technology because of their own reasons. Some would be avoiding risks due to high market price volatility. Some would be concerned of this blockchain’s security. And some would be worried of its adoption across countries. They perceive other assets as more profitable which is not a bad thing as for them. We just have our own choices and mindset of where would we engage our money to chase after profit. It is however bad to just put all of your money into a single bucket. I myself have real estate investments ‘coz why not? Sometimes it is not just they don’t know anything from Bitcoin but just their choice of not getting involved to it, which is every investor’s freedom.

Wakate

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Quote from: SAHASAN on November 15, 2023, 10:07:25 AM

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.
Example: Cz. Craig wright & Michel Sailor etc.

Looking forward to the well thought out opinion of the experienced in this regard.

I am still trying to understand to understand your write-up since it looks like a phrase to me. You said your friend choose not to invest in Bitcoin because Bitcoin is small or what? I do not understand what you have written do far and I hope you can elaborate because your sentences do not really make sense to me. You need to ponder on what you have written so we can understand you quite better.

There are many people that are eager to invest in Bitcoin because they have been seeing results of other investors who had invested in it with profits. The door is opened to everyone to buy and hold Bitcoin for as long as they are ready to hold before selling.

leonair

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Quote from: demonica on November 16, 2023, 05:48:34 AM

Well we can conclude that not everyone will be interested in Bitcoin no matter how much we try to explain it to them. Also, people will always have different opinion regarding Bitcoin. If he's rich enough, then there's no need for him to explore crypto especially if he's not interested since he's already earning a lot of money on the field he's on. And Bitcoin isn't something you can just understand within a short period of time without learning and exploring it. It's an investment. Maybe he doesn't want to exert much effort or maybe he has no time to learn about Bitcoin. So if I know someone who's not interested in Bitcoin even after explaining it to him, then I'll let him be. It's hard to persuade someone who's shows no interest in the first place.

Yes it may be that we are not able to explain science to rich people. They have enough money so they can't do it the way we think of Bitcoin and they don't feel the need to think that way. This is because when we try to convince them about Bitcoin, his focus is not on us, he is more concerned with other mediums. That's why they don't want to understand these things but if you can explain them properly then they will be attracted to Bitcoin too.

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You friend is not the only person who has such mindset as there are still lot of people who are not interested into Bitcoin, especially those who have already earned enough so they cannot simply risk their investment as per them Bitcoin was supposed to be peer to peer transfer medium without any fear of being taxed or account being freezed and they are not okay with Bitcoin being used as a investment medium. But Bitcoin is both a P2P as well as investment and there is no point in forcing those who are not interested as it will only make them more irate and one they realise that they cannot skip Bitcoin when it become too mainstream they will eventually get in.

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Quote from: btc78 on November 16, 2023, 10:06:46 AM

Quote from: philipma1957 on November 15, 2023, 09:22:23 PM

Quote from: Don Pedro Dinero on November 15, 2023, 10:19:21 AM

If he is already rich enough, he may not need bitcoin, although I find your argument too simplistic and I would like to know your friend's level of 'rich'. Do you know approximately how much wealth he has?

Anyway, it is a bad idea to try to change people's minds on financial matters.

I so disagree with the op . I have a friend he is a retired banker. He is wealthy and he is 77.

He has well over 20 million usd. We mine in his office just for fun.

So if a 77 year old worth over 20 million usd is willing to mine and we are still trying a good property to turn into a mine the answer is wealthy people do have an interest.

i see that the rich people are the ones who often find more ways to become richer since they’ve already grown accustomed to a certain lifestyle it’s now important to go beyond that

maybe they’re just not interested because they do not understand the fundamentals of bitcoin or how it works and what purposes does it serve it’s not only a form of investment but also a form of peer-to-peer transaction they’re rich enough to not put in the effort of learning about bitcoin

Even the richest person in the world, Elon, who owns hundreds of billions of dollars, also invested in bitcoin because he realized the potential of bitcoin and it could bring him more wealth. So if someone says they are rich enough and don't need more money, it's really rare and I haven't seen anyone like that.

People who give reasons for not investing in bitcoin may be because they lack understanding about bitcoin, do not trust bitcoin enough, and think it is gambling or a scam. But if they have enough knowledge about it, I believe they will regret not investing early like many people have made that mistake.

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Quote from: SAHASAN on November 15, 2023, 10:07:25 AM

A friend of mine is not interested in buying Bitcoin even after learning about it.
Because according to him Bitcoin is a small number of people who have a lot of Bitcoin. They can easily go down on the bitcoin market if they want to.

Bitcoin has been in existence close to 15years now, and we haven't experienced this easy downfall your buddy talks of.. besides when it comes to managing decentralized assets, the strength comes from the numbers which helps neutralize the power/command that a small group of users might have!!

So if our buddy wants to help in diluting this power that is with the small group of users, then getting in on bitcoin now will make a big difference.

@SAHASAN nice user name btw Roll Eyes

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Quote from: philipma1957 on November 15, 2023, 09:22:23 PM

Quote from: Don Pedro Dinero on November 15, 2023, 10:19:21 AM

If he is already rich enough, he may not need bitcoin, although I find your argument too simplistic and I would like to know your friend's level of 'rich'. Do you know approximately how much wealth he has?

Anyway, it is a bad idea to try to change people's minds on financial matters.

I so disagree with the op . I have a friend he is a retired banker. He is wealthy and he is 77.

He has well over 20 million usd. We mine in his office just for fun.

So if a 77 year old worth over 20 million usd is willing to mine and we are still trying a good property to turn into a mine the answer is wealthy people do have an interest.

i see that the rich people are the ones who often find more ways to become richer since they’ve already grown accustomed to a certain lifestyle it’s now important to go beyond that

maybe they’re just not interested because they do not understand the fundamentals of bitcoin or how it works and what purposes does it serve it’s not only a form of investment but also a form of peer-to-peer transaction they’re rich enough to not put in the effort of learning about bitcoin

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Quote from: Zanab247 on November 16, 2023, 09:31:59 AM

I don't think your friend have the knowledge of BTC because, there is no way you will know BTC and you will not show interest to know how it work to help people to make a good profits. Before he started his real estate business, I believe he tested it with small money that made him to were he is today, to have other investments that is bringing him profits that is making him to feel big man life in the environment, which BTC investment will even make him feel more comfortable through out his old age.

He is not the richest man in his State, I believe he can invest in BTC when the price is low to test the investment, if it can make him the richest man in his State or country because, there are many crypto investors that turned to wealthy men and women in their society through the help of crypto investment.

Everyone likes money and high profits, but not everyone accepts risks and likes strong fluctuations like roller coasters. Furthermore, if they have achieved their goals, if they have the life they expect, there is no reason for them to continue taking risks to put more pressure on them. Not everyone has endless greed, many people set a goal and achieve it, they will be satisfied with it instead of continuing to be greedy.

I also have a few friends who know I'm well off thanks to bitcoin but they've never been interested in it because they don't like its volatility. Furthermore, if in the near future investing in bitcoin brings me significant profits, enough for me to do other businesses, I will gradually limit my investment in bitcoin as much as I do now.

Everyone's thinking is different, people with money need security before thinking about making money, unlike many people with little capital who want to become rich quickly despite the risks.

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Quote from: Zanab247 on November 16, 2023, 09:31:59 AM

I don't think your friend have the knowledge of BTC because, there is no way you will know BTC and you will not show interest to know how it work to help people to make a good profits. Before he started his real estate business, I believe he tested it with small money that made him to were he is today, to have other investments that is bringing him profits that is making him to feel big man life in the environment, which BTC investment will even make him feel more comfortable through out his old age.

With such a high level of risk, I think it is only natural that some people are not interested, because maybe they are not ready to face the high risk, even though everyone is aware that the possibility of profit is also quite large, especially rich people who already have a business that is still in business. take advantage.
I think that's normal and not everyone has the same thoughts as us.

Quote

He is not the richest man in his State, I believe he can invest in BTC when the price is low to test the investment, if it can make him the richest man in his State or country because, there are many crypto investors that turned to wealthy men and women in their society through the help of crypto investment.

I also know who I think is one of the richest people in my country. He has a business that covers many sectors and is quite successful thanks to an inheritance from his parents, but he has firmly said that he is not willing to invest in Bitcoin even though he has studied it for a long time. a long time with evidence of success that has been seen from other people, but it all comes back to oneself and one's own goals.
For us here, perhaps no one doubts the benefits that will be obtained in the future by investing in Bitcoin, but that does not apply to everyone out there.

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I don't think your friend have the knowledge of BTC because, there is no way you will know BTC and you will not show interest to know how it work to help people to make a good profits. Before he started his real estate business, I believe he tested it with small money that made him to were he is today, to have other investments that is bringing him profits that is making him to feel big man life in the environment, which BTC investment will even make him feel more comfortable through out his old age.

He is not the richest man in his State, I believe he can invest in BTC when the price is low to test the investment, if it can make him the richest man in his State or country because, there are many crypto investors that turned to wealthy men and women in their society through the help of crypto investment.

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Quote from: Don Pedro Dinero on November 15, 2023, 10:32:21 AM

Quote from: ?? on ??

Thank you so much Sir. I hope your comments will be very useful.

Do you have any answer to the question I asked you earlier?

Quote from: Don Pedro Dinero on November 15, 2023, 10:19:21 AM

Do you know approximately how much wealth he has?

If you could tell us in your words, how rich he is.

He has tea garden and real estate business owner of an industry

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Quote from: Shamm on November 16, 2023, 05:29:15 AM

In short your friend not interested in Bitcoin even though he is a rich man but still you can't convince him buy Bitcoins and we don't know what are the true reason. Maybe he scared because we are all know that Bitcoin's price is volatile and no one can predict when is the right time and the price will rise up. Or maybe your friend is didn't trust Bitcoin even though he have already knowledge about it.

Perhaps the difference in risk profiles is why he doesn't want to dive into the volatile market. He already has significant wealth (according to him) and doesn't want to risk too much of what he's achieved. Personally, I won't be influenced by his decision to not be interested in Bitcoin. There's no need to convince him about Bitcoin either, as he has already studied it. Unless he asks something, your answers might be something for him to consider.

Quote from: Shamm on November 16, 2023, 05:29:15 AM

But in reality there are some rich man still invested in Bitcoin cause they will know thier money will make a good profit.

That's their belief, and don't use their belief as a tool to gain attention from newcomers. Bitcoin hasn't promised any profits, but it does provide evidence that profits exist. Instead of attracting attention with promises of gains, it's better to see them regretting not taking advantage of the Bitcoin market. In doing so, newcomers will understand who is wrong and who is right.

Topic: Some rich person not interest about bitcoin for following reason - page 3. (Read 999 times)