Some rich person not interest about bitcoin for following reason - page 7.

Antotena

sr. member

Activity: 490

Merit: 325

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.

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.

Sanitough

hero member

Activity: 2954

Merit: 719

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.

They have their own reasons and we have our own reason as well. And we can't just expect that whatever we say about bitcoin, they will find it easily believable and easily put their trust on it. Know that once money is involved, rich people are more meticulous than average people and they won't easily invest on something unless if they have seen it more worthy of their money and more profitable than other types of investment.

It's safe not to assume that if bitcoin creates a life-changing result with some people, the outcome might be somehow different to other people. One thing is certain, you have to trust your investment first before you decide to take the risk. That way, you will be more open whatever outcome it brings to you.

Stalker22

legendary

Activity: 1526

Merit: 1359

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

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

Okay, I do not think your buddy is looking at this the right way. The crypto market is friggin' enormous and even if some big players like CZ or Saylor or whoever have a decent chunk of Bitcoin, thats still just a drop in the ocean compared to how much Bitcoin is out there. I mean do the math. These guys cannot control the whole market.

Sure, if one of them makes a big move, it will cause some ripples and people will react. But sinking the whole ship? No way. Thats just not realistic. Bitcoin has gotten so big that no single person or group can have that much influence anymore. Theres too much momentum behind it at this point. So in my opinion, it is silly to freak out about a few whales moving the price up and down. Thats just short-term noise.

Finestream

hero member

Activity: 3052

Merit: 606

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.

Probably he doesn't see any high potentials with bitcoin and he's good even without bitcoin. Even if you are aware how bitcoin works, as long as you're not totally convinced that its going to give you life-changing profits, then you won't be totally in it. If you don't have enough faith on bitcoin, then it's better to just stay away from it. Otherwise, if you suffer from losses, you might be putting your blame to other people.

People have different views about bitcoin. Some may positively see it as a means to improve their life, while others believe that there's no special on it. As long as you don't see yourself convincing other people to trust on it, then you're safe.

tabas

hero member

Activity: 3234

Merit: 775

🌀 Cosmic Casino

The market isn't interested in him neither and that's why let him say what he want to say and let his opinion be voiced out about Bitcoin. It's true that there are a lot of holders that can move the market as what we call whales. But it's not what he's thinking of letting the market down through them. Aren't we used already to the moves of the market based on the news that we're seeing whenever there are good or bad news that's being released by the media? It's okay if your friend doesn't need Bitcoin, the known and rich people in several industries that are investing on it. Nothing personal, someone might like or not Bitcoin and your friend is on the latter.

Crypto Library

hero member

Activity: 1036

Merit: 933

Find your Digital Services at- cryptolibrary.pro

First of all I don't know how much your friend is richest Roll Eyes

. But he has the full rights to control his fund where he should invest. There is no need to force him to invest in Bitcoin. If you want, you can show him just some information.
For example, does he know what percentage of Bitcoin's total supply is lost forever? It is estimated that about 30% of the total supply of Bitcoins is lost forever and this 30% Bitcoins will act as a donation to many future Bitcoiners. So apart from these there are now large whales who are holding and many more miners and bitcoin holders than that. Otherwise only they would have manipulated the market so far. Manipulating phenomena is not completely untrue but its effect is not long lasting. But to avoid this little manipulation, I think it is true that the adoption of Bitcoin by more people on a larger scale is more important than holding such big whales.

target

legendary

Activity: 2282

Merit: 1041

You have to explain to him that the world is going digital and if he lives longer, his cold hard cash may not be useful anymore because the government will deem them useless. But I think old rich people are more into gold investment as they are more into physical investment like real properties.

I have met such kind of person and he is open to new things, he still lives in the old town since the time he was born. Never go live somewhere else.

tjtonmoy

sr. member

Activity: 1008

Merit: 366

Learning about it does not make someone fully trust on Bitcoin. People's opinion will only change about Bitcoin being positive when they learn everything about it. When I say everything I mean everything. From the good, to bad, to the worst. Every single details need to be known for person to fully understand what Bitcoin really is and what it can do.

Assuming that your friend knows enough but still don't want to trust Bitcoin, then it is his personal choice. If they are not interested in it then leave it like that. Him joining crypto world won't make any good for you. So why waste time on people who are ignorant? If you are happy with your decision about joining the crypto world, be happy with it. What others do and doesn't, it shouldn't affect your life at all. Be on your own and write your own story. Do not interfere in other people's personal space. And never give financial advice to people even if they are your best friends.

Ojima-ojo

hero member

Activity: 966

Merit: 519

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.

So who then is your friend, that he is afraid of all the names mentioned?

I don't believe in your friend's assumptions that Bitcoin is only held by a few sets of people who like their control over what direction the value of Bitcoin will go, so for sure bitcoin as a proof of work, is not easily manipulated by high volume providers like what we have with the proof of stake network where a few pool providers can easily manipulate and control the transaction confirmation, e.g like the Ethereum network recent network migrations.

Cryptomultiplier

sr. member

Activity: 980

Merit: 237

Quote from: Abu-Naim on November 15, 2023, 01:50:25 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.

Your have limited knowledge about Bitcoin that is why he thinks that it is only few people that hold bitcoin and they can let it down when they want which is very wrong.
Despite bitcoin been in a limited supply, it is a store of value and it is decentralize unlike altcoin.
If your friend said that Altcoin can go down if the investors decide to brings it down, I will agree 100% with his thoughts because they are centralized and can be tempered with through bankruptcy, emotions and others.

Apart from even having rich friends not interested in BTC, one thing to understand about the Bitcoin idea is that it is still money. It is an option for a kind of money that has its own opportunities and discoveries.
Those who become rich from BTC investments sort after it as a means by which to get more wealth by being disciplined and persistent with investments in it, or by using it as an alternative to stay safe away from prying eyes and government palava.

Abu-Naim

sr. member

Activity: 658

Merit: 293

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.

Your have limited knowledge about Bitcoin that is why he thinks that it is only few people that hold bitcoin and they can let it down when they want which is very wrong.
Despite bitcoin been in a limited supply, it is a store of value and it is decentralize unlike altcoin.
If your friend said that Altcoin can go down if the investors decide to brings it down, I will agree 100% with his thoughts because they are centralized and can be tempered with through bankruptcy, emotions and others.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

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

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

You should lower your expectation level mate, I dont think the OP here is interested in that discussion rather trying to "fish" for other forum related "goodies".

No offense to the OP though, but I and most members here have seen more number of threads like this and we all know how real these "friends" are. In either case if they think that a few people owning big amounts of bitcoin means they control it, you are explaining it wrongly - focus on what decentralization is and how bitcoin is minted and the supply. Show them how charts have been changing and what happens when price rise or dump starts.

If they still dont understand it, dont force it. It is their money and they are free to use it as they wish.

Hamza2424

legendary

Activity: 966

Merit: 1042

#SWGT CERTIK Audited

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.

Haha, OP, you got me all mixed up with the name! When I saw the notification for the new topic started by [SAHASAN], I was totally expecting something else. Anyway, whether it's Shasan or Sahasan, doesn't matter! Grin

But hey, sometimes it does matter, right? Wink

.

Anyway, according to your friend, there are fewer people with more Bitcoins and a fact, but there's a large community just waiting for a drop to accumulate this is what we call the reliability and Bitcoin's strength. even if the market drops there are huge potential buyers to pull back the market to the same level. Weather to invest or not in the Bitocin is totally a person's choice bu before making any decision better analyze the community views, Historical events and upcoming potential adoption.

ajiz138

hero member

Activity: 1498

Merit: 785

Does he not understand the concept of bitcoin despite having studied it? Maybe he already considers himself rich and is afraid of being cheated when investing with bitcoin because of the people mentioned, let people like this even I myself will not respond if I have friends like that.
He will not believe in bitcoin even though he knows, but he will regret it when the price is high, no matter how rich the person will certainly need a profitable investment but with this mindset he tends to ignore other thoughts, I think he did not have an interest from the start even though he had studied it.

moneystery

full member

Activity: 868

Merit: 202

whether he is interested or not interested in investing in bitcoin is his choice and i have no right to change his views. but such a simple reason doesn't make sense to me, does he think that such a large global economy is not controlled by just a few institutions, families and people? he was too naive.

and moreover, why did he immediately conclude that bitcoin was only held by a few people and institutions when he just learned about it? which website did he see that made him say that? because as far as i know the global distribution of bitcoin is not centralized in just a few people and it would be very difficult for them to control this market as a whole.

Wapfika

hero member

Activity: 1484

Merit: 597

Bitcoin makes the world go 🔃

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.

This is nonsense, there are tons of whale holders including institutional investors, exchange, VC and crazy rich person. I’m not sure what kind of nonsense he is talking but even on stock exchange has this kind of share holders that holds the majority of the stocks.

I believe the real reason why many rich people don’t want to invest on Bitcoin is because they are afraid on the volatility. They already have a decent source of income that makes them rich, entering a much riskier investment will surely turn them off unless they are risky type rich that wants more aside from their original investment.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

Quote from: DaveF on November 15, 2023, 11:33:43 AM

Some car people not interested in Ferrari
Some foodies not interested in French pastries
Some landlords not interested in house boats.

And so on.

Yeah, and some people are not interested in answer simple questions to threads they open, asked to them in the first comment, which leads some to think that the story is made up, especially if we look at the OP's post history. It seems that not having much success in the bounties section drives some people to this section.

DaveF

legendary

Activity: 3500

Merit: 6320

Crypto Swap Exchange

Some car people not interested in Ferrari
Some foodies not interested in French pastries
Some landlords not interested in house boats.

And so on.

Many people are never going to want to be involved in BTC / crypto.
That's fine. Same way you can pick any of the examples above where a lot of people are making / spending a lot of money and have no interest in certain things that are associated with what they are doing.

-Dave

pooya87

legendary

Activity: 3472

Merit: 10611

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.

Well you should know and also tell them that Bitcoin is not an investment, it is a currency and its purpose is not to give you profit. It is made to give you financial sovereignty. By converting your centralized censorable fiat to the decentralized censorship resistant bitcoin you can freely use your money without having someone else's hands in your pocket.

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

Example: Cz. Craig wright & Michel Sailor etc.

The fact that your "friend" thinks a scammer like Wright has a lot of bitcoin shows how little he understands of the Bitcoin world. They are probably better off not having any bitcoins at all. Wink

Such people can be easily fooled and be taken advantage of.

NeilLostBitCoin

sr. member

Activity: 896

Merit: 303

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.

He is right but why haven't the people with a lot of bitcoin sold any? Some continue to accumulate even with a significant amount.

When it comes to bitcoin investment its important to understand that not everyone might feel comfortable investing in it. If you have a friend who is hesitant to invest in bitcoin, its best to approach the topic with an understanding attitude and provide them with as much information as possible about bitcoin and its potential risks and benefits. The decision to invest in bitcoin must be left to the individual. Its not necessary to force anyone to invest in something they're not comfortable with.

Topic: Some rich person not interest about bitcoin for following reason - page 7. (Read 999 times)