Topic: Why some millionaires hate Bitcoin? - page 14. (Read 2823 times)

that's one of the best replies, as a guy living in very corrupted country, i can really appreciate bitcoin since it helped me a lot, i couldn't have gotten what i have now if there was no bitcoin and no crypto, finding a job is really hard, and if i got lucky and found one, i will get paid like almost just to eat and drink, rich people can not see bitcoin as a useful thing since they don't need it at all.

rich and influential people, there must be meaning in their statements. whether to support or bring down bitcoin, we will not really know what their intentions and goals are in leading public opinion.
whether this is part of their "game" or not, we'll never know. maybe in public, they are cons, but they have a bag full of bitcoins, who knows?
So don't take this too seriously, don't get stuck in an endless game. focus on the goals of each of us, make the best of the opportunity if you are willing to accept the risk.

Yes, like I said above, many of these guys got millionaires by the suffering and exploitation of other people. An example are the banks which charge extreme interest over loans and when it's the opposite, they borrow money and return too little percentage to their customers. Bitcoin becomes a big issue for their money making method's workability, because new investments become accessible for people worldwide, doesn't matter where they are, being possible to earn better interest rates we didn't have access before through our banks and their traditional investments offers.

Behind these banks, governments and mainstream companies there are the millionaires which are mainly affected negatively by bitcoin, so it makes total sense they are going against it.

This is just one example, but there could be more.

But the question can be made that if they're already millionaire, why they have to step on bitcoin? why they cannot live comfortably without interfering with bitcoin.
The answer is they have an agenda, it's not about being them as millionaires but there's something on bitcoin that could potentially stop them or their businesses.

We have a different opinion on this, and for me, I guess the reason is they are not aware of the system that bitcoin has, how it will use it and how important it is, they always believe in the stock investments, not on the digital investment that was made by a computer code.

Just like Elon Musk, he rejected bitcoin after all because of the reason that it will harm the ecosystem through the mining of bitcoin, the equipment that used will become a danger to the ozone layer. But I guess, not all millionaires have the same mindset, most of them perhaps can able to afford to invest in bitcoin.

Why do some millionaires hate bitcoin?

Because they are already millionaire.

They live confortable lives, they have everything they need and want at hand. Bitcoin can't guarantee them any benefit they don't already have without it. In some cases it's quite the opposite, since many millionaires profit from the bureaucracy and difficulties other people have to deal in their daily lives. Bitcoin and decentralized crypto in general mayy decrease all these difficulties considerably, so it's normal many wealthy people will be against it. Everyone who belongs to the consolidated system will try to stop or corrupt bitcoin somehow.

Another wild theory, people who made money and are billionaires are well aware how an economy functions and how their companies are valued and if they see a computer code getting valued they will not accept that and that is the issue with many and these people who are opposing Bitcoin are of the older generation, i cannot find a young billionaire who made money in the technology side of things complain about Bitcoin.

Believe me, there are some of these millionaires who have bitcoins but just being irrelevant on a daily basis to feel important in the society. Or perhaps they are simply greedy with the status quo, I would not generalise the same for the poor people who hate BTC as well. It is a double edge sword.

I mean they have different reasons why they don't trust or just don't like bitcoin, but I just don't believe that this millionaire doesn't even invest a single penny to bitcoin at least they might try it or gamble some for sure.

The profit is high just investing a few million dollars would not hurt for some of these people, all of the business has its own risk so investing in bitcoin or cryptocurrency would make sense but I mean yeah, maybe not.

These millionaires have big businesses that already earn a big amount of profit so maybe they just don't understand bitcoin technology or just don't think that bitcoin has what it takes plus its risk.

Some poor people, some middle income people have expressed their disdain towards bitcoin also.  Does that mean all do?  Of course not.  Ditto for "rich" people.   Plenty of rich, middle income, and poor people like the promise of bitcoin.  Plenty of the same don't like it.  It is meaningless to extrapolate from the likes of Buffett to make many conclusions based on his level of wealth.

The reason why is simple:  people have their own areas of expertise and are entrenched in it in many ways.  There were a ton of people in 2009 and 2010 who hated bitcoin, and most of them were tech people who didn't have a deep enough understanding of it to realize the potential.   It has been the same every year since: there are a lot of people who say "tulips", "ponzi" and "scam" and there are plenty of people who understand the benefits and who know that bitcoin has the ability to let people protect their assets from the greedy, grasping hand of politicians of the authoritarian (fascist, socialist, communist etc) stripe.
 
One key point is that many of the people who don't like bitcoin - e.g. Buffett (2 Ts), Soros et al - have a vested interest in the status quo and the ability to have a hidden inflation tax on everyone.  Others (such as Trump) haven't had the benefits properly explained to them and have advisors who don't want to explain the benefits properly.

millionaires not hate bitcoin and altcoin just make simple way how to get much money from investing in bitcoin, when make fud about bitcoin is not good payment currency you have believe they buy bitcoin, but when any one make good news sell bitcoin, repeat again when bitcoin raise higher price to get lower price and back to hold and invest in bitcoin or altcoin.

Not all, there are Millionaires who are hiding behind, someone who doesn't care about anything aside from their money, Bitcoin is one the good place to continue earning without any notice,

A luxury that millionaires wanted to enjoy, if there are vocal people who deosn't want bitcoin it's their opinions and that's well respected, even if it's the majorities it won't hurt the industry, as long as there are people who continue supporting and continue investing inside this market.

I think its not a matter of hate, it's a matter of protecting their investments and I believe these are the guys that invest in the real gold bars as a way to store or measure their wealth.

Am certain if some one explained to them how exactly bitcoin works, they would be happy to jump on the bitcoin train without a doubt.

Depends how many millions they have. The cryptocurrency market is gaining increasingly higher liquidity. Without a few hundreds millions I don't think someone can generate an impactful move in the markets. Let's remember that Musk is a billionaire and with the help of inflation it's getting easier to get the millionaire status especially in well developed countries.

I think millionaires hate bitcoin maybe they basically don't know how bitcoin technology works and or they only see the bad side of bitcoin so far, so they are afraid that if they invest in bitcoin they will lose all their assets. But imagine if they understand how cryptocurrencies work like Elon Musk then it will be very easy for them to make big profits because of course they can manipulate the market at any time.

In my own personal opinion, I think this just are almost applied to those people that hides something i.e. their money are just came from their corruption. I think if the money that they have are in crypto, like bitcoin, it will really be hard for them to commit such correction since transactions on blockchain is public.

And I think, not every millionaires/ rich people doesn't like bitcoin.

There are some kind of richest people in the world who dosen't like bitcoin here are their confession :

- Donald Trump directly said bitcoin is a scam. The main reason behind is bitcoin is a supper compitate of usd.
- Warren buffet said lots of unwanted things about bitcoin. After hearing his statement. I don't think he has any kind of technological knowledge.

- There are lots of reacher people who saw that because of bitcoin lots of people are investing on bitcoin. Not their company share and for this reason they face a little bit financial problem.

Its my opinion others can be different  thanks.

It is not difficult to understand why, bitcoin is a game changer, things are never going to be the same after the invention of bitcoin, and those that are at the top hate having to adjust their game as they were doing great already, this means that a bunch of people that were not big players before will become exactly that while old players will have to get in late or they will lose their power, so when you see things like that it is easy to see why they hold such an opinion.

In my opinion, more millionaires like BTC than hate it. Founder of Apple, FB, Tesla, Goldman Sachs and others supporting BTC and cryptocurrencies markets. Just like ordinary people, there are people who like and hate BTC. Peoples who hate BTC can be they not buy BTC when price cheap and in that time they dont understand what is BTC and its purpose. And they dont have any idea about future of BTC, so they doubt to invest in crypto and regret when  seeing the price of BTC soar.

That's the basic principle those people have and you are a fool if you make your decision from them. they know how to manipulate the others so they will not advance to the top and they will stay at the bottom so that the power will remain on those greedy millionaires. every investment opportunity should be studied well by you if you have the means to do so. don't let them decide what to do or not to do with your life. you still have a chance and without their help, you can still make your dreams come true.