Topic: Some rich person not interest about bitcoin for following reason - page 6. (Read 721 times)

Yes, sir, I appreciate that you have explained it very well. And if it is seen in reality, what they claim is wrong, because I have not seen anyone who takes the investment and says that I can up and down my assets by selling or buying the market, but every time I have been hearing from someone, that is, from big people, that we cannot raise or lower the market for ourselves because there is no one in this market, only one who can control the market; rather, there are many investors who want to muniplate this market. You can show a correction in the market by buying and selling according to the trend.

The advantage of cryptocurrency is that it is decentralized; it does not have a limited authority; only he is running it, but everyone works together. It is true that CZ has a large amount of Bitcoin, but he simply cannot munipulate the market; rather, he needs a large amount to munipulate the market. And in a decentralized world, it is not appropriate to look at the capital of only a few people and say that these are the people who control the market, but CZ says that the market cannot be predicted. They also have this idea that the market cannot be controlled by single-buddy people, but many people work together under cover.

I hope now OP's friends understand what the truth is.

Wait until mass adoption of bitcoin finally takes place as it will surely attract the rich community to see bitcoin as a profitable investment and a reliable currency. But for now, knowing bitcoin is not yet fully established, its expected that some people are still doubting of its own potentials, most especially those rich people who only risk their money on something that has bigger potentials to succeed, and bitcoin is not their choice.

However, its a good thing that they are seeing bitcoin that way at the moment while bitcoin development is not yet completely stable and established. But to be honest, these rich people won't want to see themselves left behind when everyone else around is hurriedly investing in bitcoin. For now, bitcoin is still considered as their option, not their final choice.

He is already riched and is contented to his sources of income as long as Bitcoin is not for everyone nomatter how series of diverse of your investment in as much it is not possible for anyone to be a pertaker in every existing industry nomatter how lucrative and promisable profits it would be.
There is like and choices to life.

When it comes to big institutions and whales getting involved with cryptocurrency,  is kind of a double-edged sword.   Their moves make waves for sure, but it also makes crypto seem more real to a lot of people and  it's almost like a high roller poker game - the whales have a ton of chips to throw around, but that makes the game seem more legit too.  More places putting money into Bitcoin does add some stability, even if the price goes up and down a lot still.  The crypto world is kind of growing up and getting harder to manipulate as more individuals and big players come in.  But the whales can definitely still make some waves when they want to! It's a mixed bag really.

Exactly. He knows as much as he reads in the mainstream media.

Craig doesn't own the 1 million bitcoin he claims to own, otherwise he would've used the money to pump his SV shitcoin long time ago.
Michael Saylor doesn't control bitcoin in person. It's owned by Microstrategy and that company has a board.
Most of the coins associated with CZ is again owned by Binance, not him in person.

If Black Rock buys bitcoin for the ETF OP's friend will probably say that its another whale owning bitcoin that can dump it all.

I think this is a common thing with bitcoin because not everyone likes bitcoin. Buying or not buying bitcoin is your friend's choice, we don't need to force him to agree to bitcoin and buy bitcoin. Just leave it alone, if he knows the price of bitcoin will be very high in the future he will definitely regret his decision and start to be interested in bitcoin.

Additionally, if people thought they could destroy the price of bitcoin by selling bitcoin massively, if they wanted to then they should have done it when bitcoin touched the ATH of $60k but that didn't happen. I also believe these people will not sell their bitcoins because they believe bitcoins will become very expensive and are an important asset to hold on to.

First, Craig Wright shouldn't be considered a Bitcoin enthusiast.
The reason you provided above is not enough reason for your friend not to have an interest in BTC if he/she understands the technology aspect of it and the reason why people like CZ, Sailor, etc will never go down on BTC with the inclusion of reason why they always pump their own into it.

OP, if Bitcoin was only held by those three groups of people, like your friend thinks, then Bitcoin will probably be very scace and unacessible to many other small and new investors because those guys you mentioned will probably be hoading their Bitcoin so that the price will skyrocket before they sell. Normally, I am aware that we have whales that have large sums of Bitcoin, but that's not enough reason for me to decide not to invest in Bitcoin. Even if I invest just a small amount of money into Bitcoin (like, 20k) and hold it till a bull market, I know that during the bull market, when everyone will be taking their profit, I will obviously sell the fraction I am holding and also take my profit. There's no big deal and not much of a concern, even if whales have a large sum of Bitcoin.

So what? Just let your friend do his thing. We don't need him and if he's that rich enough, he knows what to do to retain his wealth. While we're here, we're just chilling and waiting for the bull run. Money is still money and even the richest people likes to have that money that's coming from the bull run. Why look at those people that have a lot of bitcoin when you don't even have it? Let the number play itself and let it grow overtime thanks to the demand and halving that's going to make it scarcer soon.

Bitcoin is not an asset you rush people into investing in it, but rather an asset people invest in it after haven known its value and how it works. So if you said you have a rich friend who do not want to invest in Bitcoin, than that's totally fine, because inasmuch as one had got a business which fetches him/her good sum of money weekly or either monthly, it will be very hard for such people to invest a money meant for business in an asset whose value likely to depreciate or appreciate due to it's volatile nature.

So it's totally okay if people knows about Bitcoin and yet decide to place either business or any other assets a top priority.

We can say that not all have an interest in the crypto market and it is because of different/opposite views about Bitcoin. We can't force them either and influence their thinking because that only causes misunderstanding. In fact, even in our family, some of them don't support us meaning, they are just like those rich people who also ignore and are not able to see the potentiality of Bitcoin. In the end, Bitcoin investments are just for those people who have an interest and are willing to understand how it works, not just because they are rich or even poor.

It is not everybody that hears about Bitcoin that will be interested in the benefits that it offers and that is normal and something that we have to come to terms with so that we do not keep forcing it down to this people to invest in Bitcoin. Rich and already successful people may not be interested in bitcoins because they have already set other investments and have their way around transactions across the border. It is difficult to convince a rich person about something new when you are not as successful as they are.

In these times, there are still many rich people who have no interest in Bitcoin. The only ones who are always interested in it are the rich, who see this great potential and want to increase their wealth, so they buy it.

Yes, it is true that it is still too early for others that Bitcoin can be considered very young compared to other opportunities that have been in the industry for decades like this, but change Bitcoin, because many people have become aware and others have made a living even hope because of Bitcoin because they had a new solution to their financial problems.

I believe @OP friend is already at a financial freedom status.  So @OP's friend think that he is not missing out on the opportunity if he will not invest in Bitcoin because he is already well-off and probably @OP's friend has business that is giving him way more profit than investing in Bitcoin.

My friend is also not into Bitcoin but he is getting richer each day because of his successful business and it is being franchised in different part of the country.

@OP's friend's argument makes sense, if only a few individual holds most of Bitcoin then, the market can crash instantly if these people decided to dump their holdings.


It is possible that @OP's friend got interested on Bitcoin in some point but then realized the distribution of coins and thinks that there are few individual that has the capacity to crash the market and got disappointed knowing it. 

Besides being interested does not mean the person will indulge himself on investing or using it.  Probably it is the curiosity that pique his interest and found out get disappointed on what he found out upon researching about Bitcoin.

I highly agree, we must respect others decision and point of view about Bitcoin investment and the Bitcoin market system.  Besides it is not our money that these people will use if they decided to invest but theirs.  So we actually should have no say on whatever they wanted to do with their money.

well, we can't expect everyone to be impressed on this market. so there's no reason to force them to believe what this market can do. they will have their own time of appreciation of this market and you should not shove it on their face. so just leave it and it is not your loss if he won't be here in this market. he maybe has other options to improve his wealth and that's none of your business.
on the other hand, if you believe you have very good chance on this market, why not exhaust all possible options that you can involved with.

Each of us have our own reasons why we decided to do it. Your friend may be rich let's put it that way since you didn't explain or tell the level of how rich is your friend. You should ask your friend if there are other reasons why your friend isn't interested in Bitcoin. I respect your friend's decision but for people like us is that it is a good opportunity to earn money. Well, I wonder who would trust crypto right away after learning about it because I am sure that some people are anxious about spending their money to buy crypto at the beginning.

After your friend has learned about bitcoin, what he can only be afraid of is the few people that have a lot of bitcoin(the whales) to dump the bitcoin they have on the crypto market. That's funny because he failed to understand that and realized that institutional investors, crypto influencers, and investors are all investing, promoting, and aligning themselves with bitcoin so that they and their family and friends won't miss out on the financial freedom that comes with bitcoin investment.

After your friend has seen or heard about this, what he can only be afraid of is the dumb to happen. And to him, if the dumb of bitcoin is to happen by the whales at the same time, that's the end of bitcoin in price. Is that what your friend means? Sorry to say this, I don't think your friend learn about bitcoin enough because someone who does would know that the few who owe a large amount of bitcoin won't choose to dumb their bitcoin at the same time. Even if they do, there will still be many people who would like to buy bitcoin at a low price, knowing full well it will increase back in price with time and that will give them enough profits.

Bitcoin as far as i known is for everyone and even though just a few percentage of people know and use Bitcoin globally,  but then also we also have hard alot of bitcoin users who uses Bitcoin for day to day transactions, so even though you have all the money in the world,  bitcoin can still be a currency for transaction to for instead of taking it as a form of investment.

What your friend also need to do is to have a change of mindsets, because with his current understanding of what Bitcoin is and the possibilities of becoming dummied by the perceived whales as mentioned, the likely existence of that is not there so for sure Bitcoin price is volatile but through the volatility, one good thing has become available.

The context of the OP's thread isn't correct in the sense that, a person who learned something can't be said to not have interest in it. I mean nobody forced him to learn bitcoin. So, at that time he was interested in bitcoin. But, to some extent. He did his research, and wasn't satisfied enough to invest into bitcoin. Yet, such a person has invested time, also, in learning bitcoin. Which isn't bad at all. Not everyone would practice what they've read. Hence, making your opinion very correct. His friend's decision should be respected at all cost. What if the going gets tough as usual in bitcoin, and Op's friend lose his money. Wouldn't he feel bad about his friend, whose consistent talk of bitcoin convinced him to invest money in bitcoin, while he had no such intentions of doing such thing. Additionally, personally, people always cut friends that wants them to do what they're into at all cost. Friendship should be respected. I'm not saying Op is forcing his friend to join bitcoin world. But, it's slightly close to that.

Your friend lack exposure to financial system. Is he going to say the same thing if they open Vanguard and Blackrock portfolio to him, will he say he will hate Tesla and Microsoft for these two entities that dominate this stock and shares? I doubt know, so I think his argument is malnutrition without a quality reason for snubbing bitcoin. At least, he should have a concrete and solid reason and not CZ and the rest that are not even among rich list of bitcoin.

Micheal Saylor does own most of the coins under his management, it's people investment and it's his responsibility to look after because that's his job. As for CZ, bitcoin isn't the asset that made him along richest crypto dude, it's bnb and that coin depend on the growth of his exchange, it doesn't have anything to do with bitcoin. Craig Wright is just another lunatic disguiser that is wana be Satoshi but when nobody took him seriously, he is in one corner resting his legs without any influencing power again.