Super Rich people have nothing to worry about Bitcoin and Blockchain Technology

CryptSafe

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Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The super rich are so much worried about the revolutionary financial technology Bitcoin and the Blockchain. They need complete understanding to not to fear of the future. First, they did not earn their riches by hard labour, second they must know that they will never use their mountain height of wealth in one life time.

Their wealth will be inherited by their children, they must teach their children to make money and enjoy their own labour and they must setup charities to help the humanity.

Also they can buy Bitcoin and protect their wealth from invisible theives. If the fiat currency system collapse then their paper money will become ZimbabuIwan Dollars.

The solution is transferring their wealth into digital asset.

The issues of converting paper money to digital assets is not an issue neither is it a challenge to the rich but do you think they have such money lying dormant in their Bank account? Most or majority of the rich are dangerous investors. They don't mind investing the little profit they get as they know the value of investment and would want to accumulate more wealth for themselves. The only advice you can proffer to them is if they would look into accepting Bitcoin as a means of payment which they would want to put factors into consideration before giving it a try. As we all know the rich business men always look for a means to acquire more profit and that would be a nice idea to them considering the fact that Crypto currency and the market is volatile. I think they accepting Bitcoin would rather be as a means of payment because they converting their whole assets into Bitcoin is near impossible as they know what is obtainable in the system.

lucates

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Quote from: hatshepsut93 on September 04, 2022, 06:37:51 PM

What makes you think that they are worried? When Warren Buffet or Bill Gates attack Bitcoin, it's not necessarily because they are afraid of it. They are influential people and they share their thoughts on global events, especially if someone asks them. And if they criticize Bitcoin, it's not automatically because they are rich. There are also rich people who defend it, or poor people who don't like it.

We can't really generalize to everyone. Rich people spend more on investment, crypto-currencies is one of their options. Some are already accepted but others hesitate to buy. Even Elon Musk promotes doge coins.

NdaMk

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See when someone is already rich they dont put effort to get more rich. They rather put effort to enjoy their richness. That's why most of the new startups are done by young dynamic and not of rich people who have flare or doing something evolutionary or rather revolutionary. Such people are the one who lead innovation.

I quite disagree when it comes to rich business people, they continue to set up new business and don't want to be thrown down from there business ranking. They always wants to be number one and therefore diverse into any new innovation they see. Just a look at the list of top rich business people and how they still compete with new comers. Even though some still have been the business strength to be OK even if they don't compete. But they just want to get everything

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Quote from: budi691 on September 06, 2022, 02:17:07 AM

rich people don't just save their money, rich people always think how the money they have keeps spinning to keep making money,
so rich people are very unlikely they buy all crypto, but they only buy to trade, they can do it just to increase their assets

They also buy for long term investments and already a lot of rich people have started getting into bitcoin. They end up playing the role of whales manipulating the crypto market with their wealth. The super-rich have a lot of assets outside of crypto, a lot of companies they build that make their money spin and grow. crypto may be just a game for them, but they are also serious about investing in bitcoin with the aim of taking advantage of every fluctuation and panic that occurs in crypto.

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Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

Also they can buy Bitcoin and protect their wealth from invisible theives. If the fiat currency system collapse then their paper money will become ZimbabuIwan Dollars.

The solution is transferring their wealth into digital asset.

They must not be in such dire state that they will be forced to convert all of their assets to digital ones. Because digital assets are so safe, it is impossible to pass on their riches from one generation to the next. They must transfer their private keys together with their digital asset when passing it down from one generation to the next. Given that they are unable to predict their own demise, how confident are they that they can hand over their private keys to their closest family member. Wealth that is intended to be inherited should simply be saved as another asset that may be easily accessed by their family. Not everyone is a fan of blockchain, and they would rather quickly get the wealth than educate themselves about it. Looking at the fact that they were given birth to into riches and non stressful life.

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Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The super rich are so much worried about the revolutionary financial technology Bitcoin and the Blockchain. They need complete understanding to not to fear of the future. First, they did not earn their riches by hard labour, second they must know that they will never use their mountain height of wealth in one life time.

Their wealth will be inherited by their children, they must teach their children to make money and enjoy their own labour and they must setup charities to help the humanity.

Also they can buy Bitcoin and protect their wealth from invisible theives. If the fiat currency system collapse then their paper money will become ZimbabuIwan Dollars.

The solution is transferring their wealth into digital asset.

You dont know on what they are actually doing into their money but it would really be just safe to presume that they are doing their best that their riches would really be put up into more investment.

Doesnt matter if it would be put up on traditional businesses or would be going into crypto space.Its none of our business plus we dont know if those riches are inherited or not and its their money
which it would be normal that they would be spending on what they would gonna like.

Doesnt matter if they are knowledgeable about bitcoin and other correlated things but to know that these rich people will not really able to pass on whats
trending as of these days which its impossible for them not to encounter crypto space.

fiulpro

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What I do understand is, that people are so done with banks, banks use their money to lend and usually have 9-10% interest rates which the rightful owner is only paid for 0.5-0.7%, at the end they are not really that safe as well, if they collapse you won't be able to take our all your money as well, which means that banks won't be the best thing for sure for years to come as well, I do think that, some of the times people look for better options and cannot find any and these cryptocurrencies like bitcoins are able to provide people this option as well, thus i think that even if you are rich, you still might wanna sort out your options and cryptocurrencies like bitcoins would be the best economical asset in 2022.

DigitalMonk

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There is other Cryptographic reasons for them to worry about, which even the early Bitcoin adopters do not have the clues.

What you all think is simple thoughts regarding Bitcoin and digital currency matters but, those who are super rich they are the whales of the very deep waters. You people do not have any business or dealings with them, but as far as I know that they are worried too much because of the climate change in the financial service industry but the main issue for them is the change of financial system and central banking.

Do not just think that suddenly Bitcoin and Blockchain fallen down from heaven like a hail stone and it will turn into water after the clear sky. But what they are worried about is that the 99% populations have been waken up by the emerging digital financial system and blockchain.

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Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The super rich are so much worried about the revolutionary financial technology Bitcoin and the Blockchain. They need complete understanding to not to fear of the future. First, they did not earn their riches by hard labour, second they must know that they will never use their mountain height of wealth in one life time.

Their wealth will be inherited by their children, they must teach their children to make money and enjoy their own labour and they must setup charities to help the humanity.

Also they can buy Bitcoin and protect their wealth from invisible theives. If the fiat currency system collapse then their paper money will become ZimbabuIwan Dollars.

The solution is transferring their wealth into digital asset.

The entire narrative is incorrect! Super riches don't really care about the bitcoin. They usually don't keep their wealth in cash. They usually keep them invested in various assets and businesses from where they can earn recurring income. So their wealth is already protected through diversified investment.

It's a bigger risk for them to convert their investments into digital medium. Having an online wallet doesn't make things secure.

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Quote from: Digital_Lord on September 05, 2022, 10:20:45 AM

In my opinion a significant portion of one's savings should not be placed in cryptocurrency because this form of currency does not guarantee an income stream. Rich people occasionally consider purchasing cryptocurrency coin in the hope for their money to retain but they should be cognizant that this possibly exist and should allow best time and price before selling, If someone is acquainted with the market then he can do it well and succeed.

Tell that to Bukele or Saylor, you will get the answer as to why they are so sure to spend huge sums of money to put large amounts of bitcoin into their basket. Should your 7 years involved in the forum can have a better imagine of how the potential of bitcoin in the future. Remember how much bitcoin price when you signed up for a forum account, then compare the current prices. I believe that's the best way to explain how the bitcoin market works for its holders.

If you have any doubts about bitcoin, then don't imagine how much profit its holders have made over the last 10 years. I can even tell people good things that bitcoin is the most potential asset to have in their investment portfolio.

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Quote from: piebeyb on September 04, 2022, 12:26:12 PM

most rich people don't put a lot of their money in bitcoin and also blockchain sometimes they put their money just like putting eggs in many baskets especially in certain stocks, that's why bitcoin needs to be introduced to many people so attracting many rich people to put their money here is of course important also education for them the function of bitcoin and this blockchain technology

Bitcoin is for everyone, not necessarily just recommended for the rich to join to help bitcoin become more popular. Personally, I want more poor people to know about bitcoin, bitcoin is seen as a tool and an opportunity for this society to become more equal. As long as the poor always have the will, always try to find opportunities, bitcoin will be a tool to help them achieve things that the current world cannot help them with.

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Quote from: piebeyb on September 04, 2022, 12:26:12 PM

most rich people don't put a lot of their money in bitcoin and also blockchain sometimes they put their money just like putting eggs in many baskets especially in certain stocks, that's why bitcoin needs to be introduced to many people so attracting many rich people to put their money here is of course important also education for them the function of bitcoin and this blockchain technology

I agree with that because they know the rules diversify your assets in order to grow them and not lose a single downfall. Spreading the knowledge to some people who don't know about the existence of bitcoins is one way to promote it because no matter how poor they are or they have enough money to invest if they have some common sense they will realize how important it has a share and keeps it until the time you need to sold it when the price will surely increase in the next years to come. rich or poor if they know how can take advantage of it when they are badly in need of money, they will gonna have some of it for emergencies like when war broke out and no banks are open.

budi691

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rich people don't just save their money, rich people always think how the money they have keeps spinning to keep making money,
so rich people are very unlikely they buy all crypto, but they only buy to trade, they can do it just to increase their assets

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I will tell of one thing surely, that the rich or "super" rich however you put it, worry and even think a lot more than you can imagine. The thought and worry of how not to become broke, how to make more money to sustain their lifestyle and do better keeps bugging.

Quote from: CryptoHeadlineNews on September 04, 2022, 04:46:55 PM

there are different ways one can implement his/her hard work, it could physically, intellectually, and technologically, and there is always a reward for it

Some will propose that the intellectual requirement needed to build wealth is even more demanding than the physical work that OP considers hard work alone. Please do not downplay the efforts of men and women who have worked hard intellectually also to be where they are today.

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Quote from: kawetsriyanto on September 05, 2022, 06:39:42 PM

Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The super rich are so much worried about the revolutionary financial technology Bitcoin and the Blockchain. They need complete understanding to not to fear of the future. First, they did not earn their riches by hard labour, second they must know that they will never use their mountain height of wealth in one life time.

If you generalize super rich, you will end up with a misunderstanding.
Not every super rich got their wealth in the same way, some go through a long struggle to succeed. So, it is untrue if you assume all super rich got their wealth without hard labor. Even Elon Musk has an obstacle to promoting electric cars around the world. So, he is surely struggling to deal with the obstacles. But super rich never stops struggling, they continue their efforts till they succeed. They have a strong mentality, never give up, and think ahead. That's the difference exactly!!

Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The solution is transferring their wealth into digital asset.

The solution can be varied, not only converting the wealth to digital assets. Land, gold, and real estates are also the right solutions.

This might be the ideal of others since wealth can come in any form and investment in a different types of asset is just diversifying their money. But let's just talk about how super rich people engage the crypto currency first since it's not that easy to own one when you don't know what you are doing hence they need to study it first. And I assume they already have their own financial advisor which will then going to help them what they needed.

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Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The super rich are so much worried about the revolutionary financial technology Bitcoin and the Blockchain. They need complete understanding to not to fear of the future. First, they did not earn their riches by hard labour, second they must know that they will never use their mountain height of wealth in one life time.

If you generalize super rich, you will end up with a misunderstanding.
Not every super rich got their wealth in the same way, some go through a long struggle to succeed. So, it is untrue if you assume all super rich got their wealth without hard labor. Even Elon Musk has an obstacle to promoting electric cars around the world. So, he is surely struggling to deal with the obstacles. But super rich never stops struggling, they continue their efforts till they succeed. They have a strong mentality, never give up, and think ahead. That's the difference exactly!!

Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The solution is transferring their wealth into digital asset.

The solution can be varied, not only converting the wealth to digital assets. Land, gold, and real estates are also the right solutions.

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Super rich have got more than what is required for them. So, what they need is to protect the holdings and doesn't want a big jump in the value. For this reason their choice of investment will be much on stocks than cryptocurrency. In recent years more super rich have started to invest certain percentage on cryptocurrency as a way to stay safe against the inflated currencies.

Mr.right85

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Quote from: jackg on September 04, 2022, 09:31:21 AM

I'm assuming someone that's wealthy and wants to protect their wealth has a lot of investments in stocks (or at least has enough of an income to live off coming from it) so why wouldn't they just keep holding that? At some point, enough corporations will have gotten big enough from accepting bitcoin or will have moved into irrelevance for not accepting bitcoin and will have been replaced in time.

Very accurate. In fact, a poor man's worries are more limited to the point you could say they've go no worries at all. There thoughts are often about,

How to get rich (make money)
And how to get food.

That's the most I can imagine for a regular poor guy but, its a whole lot of a different situation for the rich folks. The next you know, your battling insecurities at all fronts.
One of there major concerns is staying rich. It should occur to you at OP that, the rich folks don't wish to have there place taken by another or there assets devalued. It actually means something isn't right and that's something to worry about.
You get to worry about all those that are after what you've got. Family and society at large.
You get to worry about where is the next opportunity in the evolutionary trends of things in the world so as to take advantage of the opportunity in it.

There are just so much that the rich folks need to keep tabs on and bitcoin or the blockchain technology can't be lacking in that.

BitcoinMoses

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Super rich invest money only in banking industry and they invest money in war to topple other unlucky governments and loot their countries. This is their hereditary and clandestine business. I mean the super rich invest their fund in political party and mercenary army.

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Quote from: DigitalMonk on September 04, 2022, 07:33:21 AM

The super rich are so much worried about the revolutionary financial technology Bitcoin and the Blockchain. They need complete understanding to not to fear of the future. First, they did not earn their riches by hard labour, second they must know that they will never use their mountain height of wealth in one life time.

Their wealth will be inherited by their children, they must teach their children to make money and enjoy their own labour and they must setup charities to help the humanity.

Also they can buy Bitcoin and protect their wealth from invisible theives. If the fiat currency system collapse then their paper money will become ZimbabuIwan Dollars.

The solution is transferring their wealth into digital asset.

Why should the super rich be worried about an emerging technology and Bitcoin? Except it is a direct threat to their source of wealth. And even if it is, I am sure they can always learn to adapt to the new trend and not try to fight it.

And who said investing in Bitcoin is a guarantee for securing wealth? Investment in cryptocurrency is a risky venture and there's no guarantee that you won't loss your money.

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