Topic: Why some millionaires hate Bitcoin? - page 12. (Read 2823 times)

Because the higher up the list, the more politically correct the super-rich are. Because of the conflict of interest, Bitcoin is an upstart and a revolutionary, and the traditional super-rich are vested interests in the traditional financial sector. There is no reason to be extremely bullish. Perhaps some people secretly have a part of the configuration, but on the surface will not necessarily say.

When it comes to circulation then it isnt really that necessarily that if a wealthy person do buy then t hey are helping the poor because there would always be an inequality when it comes to that.

Rich could still accumulate as much as they can and without minding about into those people below who do earn less but the good thing is that even on smaller parts we can still make taste of Bitcoins greatness.

Rich people who do hate bitcoin are to those who dont have much idea on what it is but once they do realize then they might change up their mind directly.

One of the reasons I feel some millionaires hate bitcoin is because of the bitcoin success! Bitcoin defies all they've used to know amidst all odds against it and hit unimaginable market caps in just few years. It tends to surprise them and as such, they believe its not sustainable and in that instance, they forget times are changing rather rapidly. Some others see it more as a competition,  even if they are not in the same field of business, the growth rate becomes what they tend to compete about. Sadly,  bitcoin ain't about them, there company or any of the variables they look at. Bitcoin is just there for the people to use as they please and an easy life for the knowledgeable or those with the know how.

I think they just believe in only traditional old ways to make money and also a reason most millionaires unaware about latest technology they work done from their employees,Also they might not just like the thought of decentralized cash; they have been in a trade for so long, they circulate people's speculations for profit. Imagine individuals really owning their cash and not the banks  that's a tremendous danger to them.But finally at all the winners of futre are those who know about Bitcoin and know how to handle crypto market.

Because they see the US dollar hegemony as their birthright, they have never lived in a world in which the US dollar had to compete on a fair level ground against other currencies, since WWII the US had a huge advantage over any other country and despite the huge inflation it went through because of the pandemic they are not worried about other fiat currencies, they are worried about bitcoin and with good reason as bitcoin actually has a chance to eventually become the top currency around the world taking the place of the US dollar.

They don't want to embraced something that's new to them, what do you expect from people who already have a good status using the old-fashioned ways, they can't adopt as they'll stay with what they've already got.

Expect that and many more opinions will flow around, there are people who will embrace it but there are more that will take time before realizing the worth.


Once they've seen the big potentials knowing that money will flow inside  those so-called haters will begin to collect this asset
and start bringing their money inside the market.

The rich who hate Bitcoin are those who do not want wealth to rotate or get to the poor because that is part of what Bitcoin tends to do. Those who do not hate it are the true generous ones without pretense of being philanthropic in the public. Again, it can also be that they hate Bitcoin because they missed out buying when it was at its early stage and very cheap. It is a kind of regret thing for them.

Millionaires don't really hate bitcoin, they just hate the exorbitant price of bitcoin right now. They make it sound like they hate bitcoin and spread a lot of FUD to lower the price of BTC. those who have a lot of money will be easy to manipulate the market. No one really hates Bitcoin or cryptocurrencies, Bitcoin is the future payment technology that will provide many advantages but also has some disadvantages.

The only reason I can think of why they hate bitcoin is they don't want to buy at the current price. They use their influence to say some bad stuff about bitcoin to bring the price down, then when their statement causes panic on the bitcoin market they will buy at that lower price. I don't think it is their age that they hate digital currencies.  I'm sure they know fiat can be easily printed while bitcoin has a limited amount of supply. Technology is evolving so they know what type of assets are good to invest with the current generation.

Maybe because they don't exactly understand or grasp the concept of bitcoin because they find it too young and new and they have a hard time investing in something that don't exactly have a good chances of staying alive unless proven.

It's actually normal when a new technology emerge to see our world elders who has been schooled on a old fashioned pattern of livelyhood try to fight against technology. When technology began to emerge so many advanced people felt it was a sign that the world was going to end soon and had to avoid having anything to do with it. I am actually not surprised at all soon newer billionaires would Emer from the cryto Industry and this would help correct some wrong misconception about blockchain technology.

First of all, these people's perceptions are unlikely to be ignorant of BTC. We will find that the more disruptive something is, the more difficult it is to judge its value. The idea of decentralization is not only to subvert the financial field, it may also become the consensus of our future human beings. It is essentially a model of checks and balances of power, realized through technical means, and a new political model. , The so-called code is right. In the words of American historian Yuval Harari, this is the religion of the future, a religion of people who believe in algorithms. You will find that if you use any of the current ones, the value evaluation system will fail. But the future is unpredictable. The world's richest people obviously know this, and they can only judge its value through some current evaluation systems. It is not surprising to come to such a conclusion.

some people just too comfortable making profit using the traditional currency that they are used to, not to mention the people you mentioned are group of old men.
the thing is, some millionaire always have this some kind of belief that they follow, warren buffet rarely believe in digital goods or any digital service, the main reason why he bought tech based company stocks very late in the game.
tbh i've seen quite many millionaires favour crypto as well but most of them stays under the radar, it's just the media keep repeating fud from someone like warren buffet a lot more.

Because they don't have Bitcoin in their hands. I don't want to exchange my wealth for Bitcoin. If you publish promising information, it may lead to currency appreciation. If it really rises, it needs to be bought at a higher price. What does it mean? His wealth was plundered!

I feel a little bit of jealousy and envy comes into play with Warren Buffett. He derides stocks that he doesn't care to learn about and seems to be content being stuck in a timewarp. It is one thing to specialize in a certain area and he has done very well by sticking with his array of large companies for Berkshire Hathaway, but it is a bit sad to hear him and Charlie Munger deride stuff they don't understand. Bitcoin and cryptocurrency more generally is going to heavily impact Visa and American express - two companies that they have a large stake in, so there may be an ulterior motive to them talking badly about Bitcoin. They don't like that another technology could potentially undermine two of the biggest financial companies that they have a large stake in.

I think that the soul reason that these millionaires hate bitcoin is because they can't control it and can't really influence it since it is decentralized and not owned or controlled by governments or a specific party that can be influenced in anyway, and to these people all they invest in is stock market and if bitcoin and crypto rises up as the number one investment that will affect their investments and that is why they are against investing in it and they always say that it is bad.

Millionaires with an orthodox mentality regarding finance usually do not like cryptocurrencies. I noticed that people who are into the stock market rarely like the crypto industry.
Also, the volatility and few people losing their money might be one of the reasons why they are pissed of with cryptos and the technology which they might not understand is making them go against cryptos so badly.

Of the three points you have mentioned, I strongly agree, because most millionaires are old people, who find it difficult to accept new things.
They believe more in the traditional way they have done so far and prove that they can give them wealth. Even though the world has changed,
so has the way to make money. Now if we can't adapt to change, then with the passage of time will make us left behind. I think the millionaires
who hate Bitcoin will be replaced in the next few years, if they stick to how they make money the traditional way.

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.

Donald Trump and wren brafet dislike cryptocurrencies. Donald Trump said I don't like thin air cryptocurrencies which a scam . Some general people dislike cryptocurrencies because Bitcoin only use for illegal activities.