Some rich person not interest about bitcoin for following reason - page 8.

iBaba

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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 don't think his assertions are correct on this note. This is just a perspective he's giving to it but he hasn't really go deep in the whole Bitcoin technology. Truth of the matter is, Bitcoin is not owned or controlled by a small number of people like he portrayed but Bitcoin is a growing technology that has developed a large number of individuals from across the globe. Because of the anonymous nature of Bitcoin and the crypto world, it becomes very difficult to simply put that Bitcoin is owned by the above-mentioned names. That cannot be the case.

There are an estimated number of 400 million plus owners of Crypto wallets with over 219 million of those numbers owning Bitcoin private wallets and the trading value of 17 billion dollars traded in just 24 hours as of August this year Source.

So I think it will be too simple to come to that assertion about the number of those who control the decentralized market. Although, your friend has all the options to stick to his choices, but if really he's that stinkingly rich and he's an investor, he would love to have a major share in the Bitcoin market.

Tuturtinular

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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.

It doesn't matter if your friend doesn't want to buy and hold bitcoin because that's his choice. I don't think the price of bitcoin will be affected by whether your friends buy bitcoin or not

In my opinion, lowering the price of bitcoin by selling bitcoin en masse is difficult. No one wants to sell bitcoin en masse if it has the potential for higher prices in the future. Apart from that, if they sell bitcoin en masse then just wait until the price of bitcoin goes up again because the number of bitcoins is limited and many people want to own bitcoins.

leonair

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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.

We invest in Bitcoin because we want to profit from it and become financially stronger. this is why we use bitcoin investment as a source of income. But if your friend has enough money then investing in Bitcoin may not be a motivation for him. Because maybe he has some alternative business or job from which he earns enough money to live a luxurious life. So the benefits of Bitcoin have not encouraged him so far

Yamane_Keto

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When I first learned about Bitcoin, one of my friends told me that it belonged to a group of Chinese miners who owned all the Bitcoins. Would you like to invest in something like this? If we assume that Cz owns a million Bitcoins and Michel Sailor company has open data, and I think they have 360,000, and if we continue listing the list, we may find that some conglomerates own 5 million Bitcoins, and we still have more than 3 times this number. Either smaller conglomerates or unknown people, and even the list of rich addresses do not all belong to one alliance.

KiaKia

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That's a made up excuse, maybe because he is already rich, he should have just said that he is not interested in Bitcoin, all the names you mentioned came late to the game, many nobodies bought Bitcoin before these popular people.

He lacks some facts about Bitcoin, it's easy to see that, I could remember few of these names saying bad things about Bitcoin years ago, but let's put that aside, isn't he curious why these people are now buying after saying bad stuffs about Bitcoin? I think you should ask him this question.

How smart is this rich guy of yours OP? Because I don't believe that he his smarter than all these people you made mention, he is the one lacking lots of knowledge and he will miss out really big if he didn't buy Bitcoin, he has the money, what could possibly go wrong if he risk small amount of money? Never mind, leave him be and don't let him confuse you, that's all I have to say.

GreatArkansas

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

(....)
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.
(....)

I don't think so. Because Bitcoin was created as decentralized. Billions already are floating right now in the Bitcoin market and we have already more than 10 years but why no one else try to do it or like take it down?
For me, big companies are already in the market and they are not dumb enough not to think this kind of reason.

Don Pedro Dinero

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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.

Xal0lex

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If he doesn't see the point, he probably has enough of the wealth he has. He is happy without bitcoin. I agree with the previous opinion, there is no need to impose your opinion in financial matters. You could lose a friend.

_act_

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Lightning network is good with small amount of BTC

Just wallet that hold worth of one millions of dollar of cm bitcoin got to 81,000 wallet addresses recently. More people hold bitcoin which are not up to $1 million dollars.

Bitcoin was at $36000 when this report was out.

https://cointelegraph.com/news/bitcoin-millionaire-wallets-triple-this-year

You can check some information about addresses on glassnode.

There are many people, including institutions that are holding bitcoin. He thought institutions do not have a reason for holding bitcoin?

I hope it is not too late when he will realized what the value of bitcoin could be in some years to come.

Don Pedro Dinero

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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.

SAHASAN

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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.

Topic: Some rich person not interest about bitcoin for following reason - page 8. (Read 999 times)