Topic: Super Rich people have nothing to worry about Bitcoin and Blockchain Technology (Read 391 times)

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.

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.

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

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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

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.
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.

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.

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!!

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

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.

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.

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.

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.

Before you are trying to teach them about what they should do, they exactly have understood so much about what they have done, are being done, and will do for their life, their children, fellows, family, and also all things around. They must have several strategies in life. The wealth is not only about how much n the bank is but also about the investment. They know much about what investment will really be worth for them. They may have divided their money into several aspects of investment, both stocks, property, gold, or digital assets. So, what are they are worried about?
although there is no high pressure of worries, this doesn't mean that they stop learning. You know, even a very smart person or very rich person will never stop learning. That is why they always know what they must do, moreover, they commonly will have private financial consultants.

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.

Yes they have their opinion and for me they are influential person and share their opinions on the hot topics most of the time as you said on big events when they are speaker or guest of the house.Warren buffet and other people are investors also and you see bitcoin is top priority of crypto investors so they share their opinions on whether they see it as good investment source or not and if not the reason.

Some criticality acclaim it while others invest amount in it so we can't say they have to worry about bitcoin or not.

the super rich do not invest in, for instance the wheat market of commodities

what they invest in is wheat farms
this is because if wheat has a good year on the markets, its because the farms had a good year. meaning the smart investor profits from wheat still via the farms produce sales

however if wheat markets doesnt do well.. a smart investor has not invested in a wheat commodity so is not at a loss.. because.. here is the thing. they still then have backup of either selling the farm equipment, building business brand..  but as a lease(retaining the land) meaning they cna also sel land as a last resort.. meaning they are 3 layers of protection deep to have ways to get returns even if the wheat market was down


PoS coins are backed by nothing and services that only function on PoS coins thus have no underlying value so no point investing in the produce(sub tokens/sidechains) of PoS or Pos itself(they can go to zero easily)

however.
take bitcoin at market level, bitcoin has a market price which is backed by some fundamentals of electric and asic hardware costs underlying it. which people then pay a premium(speculation) above the absolute minimum mining cost on the planet(non zero bottom)
so one step back would by to invest in mining farms that way even if market is down you can still sell the hardware

the next step back from then is to invest in asic manufacturing factories.. where by when the market price is doing good is because hashrate is up costing more to make a bitcoin .. meaning hashrate is up due to lots more asics running. meaning the asic manufacture is doing well selling more asics. .. and if bad. well they can alwasys sell asics to other pow coins or sat worse sell the asic factory

so now you know how the super rich view investing in crypto

..
lets now explain the middle rich investors
some middle rich guys invest in bitcoin businesses(2 step protection). like exchanges, merchant tools and custodial services, where there are side income methods like selling customer data, statistical data, or getting residual fee's from the trades. aswell as the effects of bitcoin price movements on the businesses net worth/share price) as a double protect

..
so although you wont see big investors shout out they have bought 100k coins. they will show they have pumped billions into bitcoin businesses

..
back 100 years..
in the wild west gold mining era..
the super rich bought the land and the towns that then offered the mining tools and beds for the night for the prospectors.
yep all the profits without the hard work of mining gold. and if land didnt yield gold they can resell the equipment and sell the land to farmers who then also used the towns facilities

---

i say all this because once you know how the super rich actually think about their investments you will then see they dont actually fear bitcoin

their investments are not at risk. they are just no interested in being a "consumer" end buyer of bitcoin. they instead want to own a piece of the backbone fundamentals.. or they just are not interested at all

No, they should be paying tax instead of avoiding it. Charities are nothing more than rich people's tax haven.
Most of the charities are scam with all the proceeds going to some undeserving individual.

Direct Taxation > charity




Such elites are afraid of losing their power to decentralized governance/currency/etc
They understand bitcoin in&out, and this understanding only worsens their fear.

As long as we got guy like Vitalik, shilling their centralized network then the elites are here to stay.

They're not worried at all.

In fact, they're one of the first people to understand what the future might like be. Those are telling that they're worry or doesn't like bitcoin and its technology.

Don't be gullible with anything they say.

They're the first ones to see the potential of an asset and they're capitalizing what they do. It's all about the information and knowledge that makes them rich and whoever gets it first will take advantage of it.

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.

Well I guess they did work their ass off early, getting enough knowledge on how to become rich by investing in any instrument, like stocks, mutuals and other financial assets. So there is some form of hard labour there. And probably this will be the same with crypto and bitcoin, this rich people will need to learn the technology.


Hopefully their children will learn how to protect their wealth and asset and be the next generation, and have the mindset to help humanity with that enormous money.


Partly, but I think they are old and traditional, so they might as well stick with what they know of, and that is stocks and others. And maybe their next generation will start to move it to digital assets and they are more adapt to cryptocurrencies.

Yes. I agree with this statement of yours, because they stand the chance of losing a huge amount of money in case the price of Bitcoin falls, and likewise make profit if the price rises, but they are more always worried about lost.


I totally disagree with this point of yours, because if that's how it is easy to become a billionaire without hard labour, everybody would have been a billionaire today, because there are different ways one can implement his/her hardwork, it could physically, intellectually, and technologically, and there is always a reward for it


It is never a must for any rich billionaires to setup charity organizations to help humanity, it's always out of free will, so I totally disagree with what you said.

I really don't understand who cares about how a millionaire or billionaire solves his finances, if this persons is not directly related from the point of view of family, partner or government.

On the other hand, you decontextualize your idea with "they didn't earn their money with forced works", hahaha I don't know what you mean by that, but in any case most of those billionaires have a complex investment network that cash is really insignificant.

What makes you think they feel so much worried? Do you think an average man with little financial capabilities could afford loosing his money as well, no body want to loose no matter how small, i want to believe the rich here are more rather being optimistic about the better effects in bitcoin adoption that could help maintain their status being rich if invested with.


I disagree here, it is not everybody that makes wealth through a dirty means, if God can answer your prayers also, should people be saying you got wealthy in an illegal way, let's compare and contrast with some situations before jumping into conclusion.


Definitely, what else could have been expected than this


They can teach their children but not must, children have their right to choose either what they want to do or become later in life and not everyone will eventually set up a charity all because they are rich.

Let me let you know because I see you don't know, the crypto-currency space has the highest level of silent billionaires. Yes it really does if you are following whale news and some other news you may see some outrageously high amounts of Bitcoin been sent to some wallet and checking the history of the wallet you would get very shocked.

I would agree with you if you had said Highly rich guys won't care so much about Alt-coin yes because many of them has source of cash follow that covers this lavish lifestyle and maintains their wealth but with Bitcoin it's different because Bitcoin has more use than just for investments and this rich guys knows it and definitely get more involved into bitcoin.

Define Super Rich.

Are there polls that confirm very rich people are indeed worried about Bitcoin and Blockchain rather than are curious or just ignorant about them? There are people who are in a conflict of interest, those who work for big traditional investment markets. So they can, of course, trash-talk about Bitcoin. But as for generic rich people, are they truly largely worried about Bitcoin? If you're very rich, you normally have the kind of wealth that won't be gone because it's in different assets, countries, property and other things. So unless it's an end-of-the-world situation, you'll be alright. Bitcoin doesn't do much to undermine traditional industries in practice. They still remain highly valued and powerful. There's enough for everyone, it's not really a competition IMO.

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

Indeed the super rich are super rich because they are financially literate, they know
what works and can diversify their investments and can employ top people to help manage
all that. I would agree that we will see a time when more and more will add Bitcoin to those
portfolios.

I would also add that they can manoeuvre their portfolios in order to minimise the effects of inflation.

Rich folks have their way of thinking and different ways to grow and preserve their wealth, it is not usually keeping their money on fiat to sit idly, I think most rich folks invest their funds in different assets than keeping raw cash.
I believe the younger generation of rich people are more into digital currency and investment than the older generation, so it is very possible some of their children are already interested in btc investment.

Most rich people have mature financial intelligence, they only save money in banks for their living and business needs, and usually rich people rarely want to hold cash and the money will not be productive if it is in the form of paper money.
and they choose to roll back their wealth to continue to multiply by placing their wealth in assets. Examples such as real estate, commodities, stocks, and so on include bitcoin or other cryptocurrencies. And they put money into some investment or asset that he understands and also understands the risks because most rich people are smart.
and besides they do it to multiply, they know that the money they keep for themselves will continue to shrink over time due to inflation.

Are you saying that because you interact a lot with the super rich? I doubt it. I think you're just saying that because it's on your mind.


Well, from the perspective of this forum, yes. But there are many super rich who don't give a damn about Bitcoin and think it's a ponzi that will eventually go to 0, like Buffet and others.

So the same as before. It seems to me that you are saying things that are going through your head with little or no basis.

I disagree that wealthy person especially billionaire didn’t do hard labor to get there wealth. Having physical work is not the only way on measuring how much effort you are putting on your job to become successful. Do you think managing a company to success is easy than doing menial job? Physically yes but it’s hard as hell mentally. You can’t measure the difficulty of work base on physical because the value of contribution to business success is what matter most.

Wealthy person earned there through there hardship and wise decision making. They do it without Bitcoin so you can’t force them to invest on a new territory which they is risky while they already prove that they can be wealthy by doing the things they done. They are the living proof which is why wealthy person person is the hardest person to encourage to invest in Bitcoin. It like selling computer to the CEO of the company that making it. They are already on the pinnacle of Investment word, It’s nonsense to convince to not be scared on things that they are already on top especially when it comes from people like us that still nothing to prove compared to them.

According to my understanding, most super-rich people own a portfolio of few equity securities and index funds since they can gain admirable returns through it without spending much time managing it while some invested in gold. However, they always look for innovative opportunities to increase their earnings.
Yes, they can diversify investment into Bitcoin but their investment decision in crypto will depend on each rich individual personal understanding of Bitcoin.

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.

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.