Topic: Why some millionaires hate Bitcoin? - page 10. (Read 2823 times)
Not all wealthy people don’t like to invest in Bitcoin. There are still some giant whales in the Bitcoin market. They have invested in a lot of Bitcoin, such as MicroStrategy and Tesla. There are also companies that seem to resist Bitcoin. In fact, they bought a lot. Goldman Sachs tried to sing empty bitcoins before, but instead bought a lot of bitcoins. I think that many millionaires among them may be considering the high volatility of Bitcoin, the risk is not controllable, or they may not understand encryption technology very well. After all, everyone has a different background and ability to accept new things. , But they have realized the freedom of wealth, so there is no need to take risks.
Some wealthy people have expressed their disdain towards Bitcoin. They believe Bitcoin is a scam or Ponzi scheme backed by nothing. Figures like Warren Buffet, and even Donald Trump himself believe Bitcoin is a sham. I'm surprised to see this, since Bitcoin brings many profit opportunities to its "hodlers". For some reason, millionaires (or billionaires) hate Bitcoin. They usually support Gold and Fiat, not wanting to try something new like crypto/Blockchain tech. Justin Sun tried to convince Warren Buffet to get into crypto a while ago, only to find that his efforts were in vain.
Thoughts?
Thoughts?
It is almost worthless even listening to people like Warren Buffet and Donald Trump on these topics, they are already sitting on top of fortunes that would be able to last them many lifetimes - they will never need to move outside of their comfort zone again. Cryptocurrency is very much a new field and those guys are in their 80's/90's right now so it may feel largely redundant for them to learn about such new technologies. They got rich without it, they learned their businesses without it and they can finish their life without needing to know about this new subject that does not offer them anything. Unlike people born today who have a chance to speculate on the future, their form of speculation on the past was owning companies and shares. Do not begrudge them, but they should stick to fields of expertise rather than chastise people.
because they do not want to be rivaled, all of us who have been in bitcoin must know, that bitcoin is very encouraging to the economy, even for small circles, some even play without capital, but some of them also actually want to develop their assets. But usually they spread the bad news first to get a cheap price.
Some wealthy people have expressed their disdain towards Bitcoin. They believe Bitcoin is a scam or Ponzi scheme backed by nothing. Figures like Warren Buffet, and even Donald Trump himself believe Bitcoin is a sham. I'm surprised to see this, since Bitcoin brings many profit opportunities to its "hodlers". For some reason, millionaires (or billionaires) hate Bitcoin.
Most of those attempts are the keep, other people, away from bitcoin and another tech that makes challenges them to change by following masses, They don't want to follow masses so they hate it, What they mean is "I'm here because i don't use bitcoin and you shouldn't either"
They usually support Gold and Fiat, not wanting to try something new like crypto/Blockchain tech. Justin Sun tried to convince Warren Buffet to get into crypto a while ago, only to find that his efforts were in vain.
Thoughts?
Thoughts?
They don't support it because their wealth is built on traditional sources of income and anything new that changes the tradition messes with their head.. a lot.
When people get old their drive to do things decreases, most of them, and life becomes dull because the brain recalls past knowledge and connects dots and that becomes easy rather than learning something new.
it's because they don't invest bitcoin.
Not really. Tesla once accepted bitcoin and invested in bitcoin and then stopped accepting bitcoin.Then the price of bitcoin that continues to rise makes them jealous. They say hate bitcoin to get bitcoin price down and many people support them. But I believe in time they will accept bitcoin and invest in bitcoin.
There's no jealousy with the price increase of bitcoin and in fact, that's what they want if ever they invest but they don't. Those negative thoughts that they're showing to the public, it's either being done for them to give a good price entry. But some of them might be really saying a real thought they've got against bitcoin. 
In my opinion, some wealthy people have a disliking view of BTC and treat BTC as a ponzi scheme which is a scam. maybe they don't fully understand the technology of BTC and believe in its future. If BTC has more banks or places that accept payments, I believe they will think differently about BTC.
People does have different impression towards Bitcoin which it isnt surprising that they would neither be interested nor having the opposite view about it which we can understand.In all the possible methods and ways of scamming nowadays, you would really be having that kind of mindset or reaction that this is might some another scam once again but if you do
really make your homework then you would really be changing your impressions towards bitcoin since it isnt the true thing about it.By just looking on the community on how big it is
then thats one of the factors or indicators that you arent dealing on something which is a potential scam.
they don't understand bitcoin, they also don't understand crypto performance, rich people are used to fiat currency, that's why they hate bitcoin, but I think if they understand and understand bitcoin, they will definitely play in krypto money, indeed play in crypto have risk, that's why people are afraid of crypto, they are afraid of risk..
Most of them loves to stay with fiat as they already familiar with how things works around it, while wih crypto where there are chances that their money will lose it's value they are not accustomed to accept and embrace that factors.
Rich people already have the wealth and they are not willing to venture with something that risk is much higher than the potential of gaining huge amount of money,
Lacking with understanding and unwilling to take the long steps of learning the process.
In my opinion, some wealthy people have a disliking view of BTC and treat BTC as a ponzi scheme which is a scam. maybe they don't fully understand the technology of BTC and believe in its future. If BTC has more banks or places that accept payments, I believe they will think differently about BTC.
As for now I didn't seen any people right now getting angry with the use of bitcoin but well in just my perspective too and based on the statement given by the other member some people hate it. I guess because they know the chance or possibility that you hold this coin for a long wait and get your profit if the market rises too much another factor too is people now invested with the cryptocurrency which is decentralized and not to those coins or let's say stocks and forex.
Also common is if you don't know things like crypto I guess risking your money is not recommended. Always invest in the things you know.
Also common is if you don't know things like crypto I guess risking your money is not recommended. Always invest in the things you know.
they don't understand bitcoin, they also don't understand crypto performance, rich people are used to fiat currency, that's why they hate bitcoin, but I think if they understand and understand bitcoin, they will definitely play in krypto money, indeed play in crypto have risk, that's why people are afraid of crypto, they are afraid of risk..
Because they're FIAT slaves like Elon Musk. Don't be fooled to think this dude loves crypto. These elite guys hate cryptocurrencies for a reason because they've been taught to hate them.
It is basically the ideological and conceptual tradition of the older generation of bourgeoisie. They believe that the cryptocurrency field has no real value to support the existence of cryptocurrency. They do not understand the technology of the crypto market and do not want to put themselves at risk of unknown passivity. They would rather stay in their comfort zone.
Before, many millionaires, we're not really aware about Bitcoin, they accustomed the way they believed,
they not willing to put investment, in the things that cannot be seen or touch,
or they hated BTC, because, many people who possess BTC, specially those early adopters are richer than they.
they not willing to put investment, in the things that cannot be seen or touch,
or they hated BTC, because, many people who possess BTC, specially those early adopters are richer than they.
Bitcoin is scam to people don't have money, any millionaires hate bitcoin they still looking for a money, use can't see a billionaire condemning bitcoin without coagent reasons, it's before when people are ignorant of bitcoin and they hate it, but since people have started practicing investing in bitcoin,even the millionaires is even investing their money in bitcoin.
I don't have any backing things about this but I think the reason why they hate crypto is it's accessibility, the people from different levels of life can easily access it and with some strong fundamental knowledge about it, can help them make money. With the people finding financial freedom in crypto, the people at the top are scared because they're control over the people are slowly wavering since the things that they can offer can be offered by crypto in a much better way.
it's because they don't invest bitcoin. Then the price of bitcoin that continues to rise makes them jealous. They say hate bitcoin to get bitcoin price down and many people support them. But I believe in time they will accept bitcoin and invest in bitcoin.
Amazon has not accepted Paypal as a means of payment, it only supports credit cards.
IMO when Jeff Bezos created Amazon as a new business model in his time that led him to innovation. Accepting bitcoin on Amazon is like minimizing the company for the great euphoria it can cause. It is like a solid brand that does not need another element as well as it can happen with Apple.
That is the reason in my opinion that large brands led by Billionaires do not accept bitcoin.
IMO when Jeff Bezos created Amazon as a new business model in his time that led him to innovation. Accepting bitcoin on Amazon is like minimizing the company for the great euphoria it can cause. It is like a solid brand that does not need another element as well as it can happen with Apple.
That is the reason in my opinion that large brands led by Billionaires do not accept bitcoin.
I think it's because bitcoin is a relatively new concept that they have a difficult time wrapping their heads around. But they typically use fiat to make more fiat, introducing a crypto currency accepted globally undermines their purchasing power by taking away their fiat demand.
It's just like you said.
Many of them were negative at first but then changed their minds. The guys from Shark Tank are one of those. Mark Cuban thought it to be a ponzi scheme at first. I don't remember exactly but he said something like that about 5 years ago and now he owns some bitcoins. Kevin O'Leary said in 2019 that bitcoin is useless and now he's planning to invest in green mining.
These guys need a bit more time than we do, they're a bit slow and scared because they've seen many scammers in their line of work
They don't believe it's a scam, otherwise they wouldn't hate it. They hate it because it's a tool for 'common' people to get wealthy, outside of their little rich world. Common people should try to invest and I am sure they will be benefited sooner or later.
Another reason is that bitcoin is a game changer, those that are rich obviously like the system as it is as they are at the very top of it and have a lot of influence, bitcoin promises to change the way the economy is going to work and they are not happy with it, meaning that they will have to start over and they do not like the idea of paying tens of thousands of dollars for bitcoin when other people got them almost for free, they are used to the opposite, in which they are the ones that get stocks at ridiculous low prices and then sell when the prices are inflated. 
There can be several reasons as to why millionaires such as the ones you have mentioned hate bitcoin but the things that pops first into my mind every time I encounter such a question are:
1. They are traditional people - Traditional people only believes in the traditional ways of earning money which they have been studying and using all this time and have been able to prove for themselves the effectiveness. Hence, they only trust traditional ways that they can be sure enough to deliver good results and not see as a 50-50 gamble.
2. Cyptos affect their businesses/source of income negatively - Now as we can see on the first reason, they have traditional ways of earning and some traditional ways can easily be affected negatively by this industry like banking, remittances and more.
3. Personal hate for innovation(Complicated things that require a lot to comprehend fully) - Let's face it, lots of traditional people hate the thought of new things that require a huge amount of time and effort to understand. And being a businessman, the person's every move are naturally well calculated to have as much success rate as possible. Now with this industry having too many uncontrollable variables, it is almost impossible to get expected results in a hundred percent. Thus, makes traditional people hesitant to hateful.
There are more reasons out there but these are probably the most logical ones that I think of most of the time.
1. They are traditional people - Traditional people only believes in the traditional ways of earning money which they have been studying and using all this time and have been able to prove for themselves the effectiveness. Hence, they only trust traditional ways that they can be sure enough to deliver good results and not see as a 50-50 gamble.
2. Cyptos affect their businesses/source of income negatively - Now as we can see on the first reason, they have traditional ways of earning and some traditional ways can easily be affected negatively by this industry like banking, remittances and more.
3. Personal hate for innovation(Complicated things that require a lot to comprehend fully) - Let's face it, lots of traditional people hate the thought of new things that require a huge amount of time and effort to understand. And being a businessman, the person's every move are naturally well calculated to have as much success rate as possible. Now with this industry having too many uncontrollable variables, it is almost impossible to get expected results in a hundred percent. Thus, makes traditional people hesitant to hateful.
There are more reasons out there but these are probably the most logical ones that I think of most of the time.
Most millionaires are people who've been accustomed to the banking system for quite a long time. Something as new as Bitcoin won't bring their attention especially when it's not backed by a reputable entity. Those who adopt Bitcoin (like Elon Musk) will be the ones who'll benefit the most in the long term. Your list greatly explains the reason why the wealthy avoid Bitcoin in the first place. What matters is that Bitcoin remains decentralized to withstand anything on its path. I wouldn't worry about a few millionaires going against Bitcoin, as long as the majority of the people support it. Just my opinion
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