Why some millionaires hate Bitcoin? - page 3.

Melody kdl

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Quote from: Abiky on June 11, 2021, 09:00:13 AM

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? Huh

There is a saying, if you invest in a field you don’t understand, you will definitely lose your money. These rich people understand this truth. They don’t have the initiative in the encryption field, only passive, and their investment is likely to suffer a sickle. And they have no way to protect their wealth!

zhangzhe1988316

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Some people like everything and some people hate it. In 2017, I bought 5 bitcoins at a price of 4,000 US dollars. Now I sell them at a price of 60,000 US dollars. I went from a girl with nothing to a rich man. People, and some people buy when the price is 60,000 US dollars, and then when the price drops to 30,000 US dollars, then there is a different result at this time

Mahanton

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Quote from: Abiky on September 24, 2021, 11:00:20 AM

Quote from: Vaskiy on September 20, 2021, 08:02:41 AM

Millionaires already made millions out of different businesses. So, they have a thinking there is no need of such an innovation called bitcoin. There is also ego in this, because there are lucky people who have invested big on bitcoin and other cryptocurrencies. This has made them to be millionaires within few years time.

I've seen stock analysts who used to say don't invest on cryptocurrency, but on deep analysis I understood it is also a play. Because cryptocurrency provides way for common men turn rich in a short time and the same isn't possible with stock investment in a short.

We can say most millionaires are skeptical of Bitcoin, because it's fairly new to the mainstream world. As time goes by, the crypto/Blockchain space will mature enough until it brings the confidence of wealthy people. Regulating the crypto market will surely bring some sense of security to big investors and traders alike. Right now we have Elon Musk and Mark Cuban in the game. But there will be more to come as Bitcoin increases in popularity worldwide. Those who invest into Bitcoin now, will see the benefits in the long term.

Nonetheless, it doesn't matter who hates or who loves Bitcoin. What really matters is decentralization. As long as Bitcoin remains a decentralized cryptocurrency, it will stand the test of time. Just my thoughts Grin

They wont really become millionaires if they arent really that good on investment and its true that they would really be that skeptical when it comes to crypto investment specially with Bitcoin.
It is just a decade old and i cant really blame them for them to be hesitant or have doubts when it comes to this.For sure they would really be studying into something which might really poke
up their interest so its up to them whether they do love to jump in or would really stay up to be neutral or rather be hateful on bitcoins existence.

cryptocurrencyboss

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Interestingly while some millionaires hate BTC, some are very much excited about BTC. If you can't decide what to do, take a bag of popcorn and be a spectator. Personally I think technology aversity is the main reason of hating BTC.

pjwaffle

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Some of the reasons they hate Bitcoin is because they don't want other people like the average person to have the opportunity to become a millionaire in the simple step of owning Bitcoin. It has not been proven that since the existence of Bitcoin. And affected by some FUD previous ponzi projects made them lose faith and hate Bitcoin even more because they think it is a scam and they will lose all the money invested in bitcoins like ponzi projects that embrace money and evaporate.

Abiky

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Quote from: Vaskiy on September 20, 2021, 08:02:41 AM

Millionaires already made millions out of different businesses. So, they have a thinking there is no need of such an innovation called bitcoin. There is also ego in this, because there are lucky people who have invested big on bitcoin and other cryptocurrencies. This has made them to be millionaires within few years time.

I've seen stock analysts who used to say don't invest on cryptocurrency, but on deep analysis I understood it is also a play. Because cryptocurrency provides way for common men turn rich in a short time and the same isn't possible with stock investment in a short.

We can say most millionaires are skeptical of Bitcoin, because it's fairly new to the mainstream world. As time goes by, the crypto/Blockchain space will mature enough until it brings the confidence of wealthy people. Regulating the crypto market will surely bring some sense of security to big investors and traders alike. Right now we have Elon Musk and Mark Cuban in the game. But there will be more to come as Bitcoin increases in popularity worldwide. Those who invest into Bitcoin now, will see the benefits in the long term.

Nonetheless, it doesn't matter who hates or who loves Bitcoin. What really matters is decentralization. As long as Bitcoin remains a decentralized cryptocurrency, it will stand the test of time. Just my thoughts Grin

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Quote from: Ngewex Yuk on September 24, 2021, 09:05:24 AM

Quote from: blckhawk on September 24, 2021, 04:55:36 AM

many millionaires hate bitcoin because they did not believe bitcoin and they are not invested in it. many young entrepreneurs prefer investing in bitcoin which is bad news to millionaires because no one is investing in the normal stock market meaning that the value of their stocks will start to depreciate in value.

When the pandemic was almost 2 years of course making all types of investments including stocks drop, people prefer to invest practically and can make daily profits so they choose bitcoin, besides that millionaires hate bitcoin because they think bitcoin is a competitor from their convenience so by all means they will make news negative about bitcoin.

I think only a few do that. and many are actually from rich people who are curious and are getting interested in bitcoin. most of the haters are those who feel threatened by development or their unpreparedness to use better technology.
some don't want to know because the regulations in their country don't allow it. and I don't think the rich people are going to take the risk.

Ngewex Yuk

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Quote from: blckhawk on September 24, 2021, 04:55:36 AM

many millionaires hate bitcoin because they did not believe bitcoin and they are not invested in it. many young entrepreneurs prefer investing in bitcoin which is bad news to millionaires because no one is investing in the normal stock market meaning that the value of their stocks will start to depreciate in value.

When the pandemic was almost 2 years of course making all types of investments including stocks drop, people prefer to invest practically and can make daily profits so they choose bitcoin, besides that millionaires hate bitcoin because they think bitcoin is a competitor from their convenience so by all means they will make news negative about bitcoin.

alpamar99

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Quote from: blckhawk on September 24, 2021, 04:55:36 AM

many millionaires hate bitcoin because they did not believe bitcoin and they are not invested in it. many young entrepreneurs prefer investing in bitcoin which is bad news to millionaires because no one is investing in the normal stock market meaning that the value of their stocks will start to depreciate in value.

there is always a problem here because it is very natural, when they are not in crypto and choose something else that they think is more profitable than bitcoin they will definitely feel very threatened when they see bitcoin go up and they will definitely feel the effort they are doing will be disrupted by the existence of bitcoins.
then it is not wrong for them to do that because according to them as long as their business is smooth and without any disturbance they will not protest and refuse something, but when there is one whose value is far compared to the effort they are doing they will definitely do everything they can to hold back and refused very vehemently, and now it is happening with crypto especially bitcoin which is indeed getting stronger and bigger the longer the invasion.

blckhawk

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many millionaires hate bitcoin because they did not believe bitcoin and they are not invested in it. many young entrepreneurs prefer investing in bitcoin which is bad news to millionaires because no one is investing in the normal stock market meaning that the value of their stocks will start to depreciate in value.

Ryder Kudrow

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They hate Bitcoin because they lack encryption knowledge and don't really understand the value of Bitcoin.

Bitcoin price volatility is risky, and they are afraid of losing their money when the price falls.

jakasantosa

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Think better

Quote from: Zanab247 on September 23, 2021, 11:48:28 AM

Here are some reasons millionaires hate bitcoin:
1. Technology: Most of the millionaires lack internet because they are not well educated in technology. Bitcoin is a digital currency which require technology to make the investment successful.
~snip

I think millionaires hate Bitcoin because they don't have time to think and learn about bitcoin, they are busy with bigger things than investing in Bitcoin.
Regarding technology, I think millionaires have it. How can someone who becomes a millionaire if do not know about technology, especially the internet?

Zanab247

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Here are some reasons millionaires hate bitcoin:
1. Technology: Most of the millionaires lack internet because they are not well educated in technology. Bitcoin is a digital currency which require technology to make the investment successful.
2. Not popular: millionaires hate bitcoin because is not too popular like fiat money which they are use to in the community. They are use to fiat money in all their investment.
3. Risk: They hate bitcoin because of the risk when the price of bitcoin decrease without any signs to the customers. Digital currency is not control by the government which it can dump and pump at anytime.
4. Decentralized: Millionaires hate bitcoin because is not control by a particular country.

Dilladupak

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Quote from: rodskee on September 23, 2021, 07:34:58 AM

Millionaires hates bitcoin ? but they also invest on this to profit? we already know how many Millionaires or even billionaires investing in this market because of the volatility in which they can play the value.
but there are also some who hates because of that same reason of volatility .

Rising up and down in value is why some of them hates this market .

I agree that the reason for Bitcoin's volatility is that many millionaires hate Bitcoin, it's because they don't understand that it can actually make Bitcoin traders and investors profit.
But not a few Millionaires in this world who study Bitcoin and finally they invest here and finally they get big profits.

rodskee

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Millionaires hates bitcoin ? but they also invest on this to profit? we already know how many Millionaires or even billionaires investing in this market because of the volatility in which they can play the value.
but there are also some who hates because of that same reason of volatility .

Rising up and down in value is why some of them hates this market .

CoinFoxs

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The way people start accepting bitcoin and making profit from bitcoin i think those still hating bitcoin by knowing it’s potential are in loss. They will regret by the end of 2021 when bitcoin will be trading at 100k$. The time is near when people wants to buy bitcoin but there will be no bitcoin in the market due to holding of coins by big names like elon musk, El salavador president etc.

Marcorey

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1. Bitcoin's decentralization will not be controlled by anyone, and funds are privately owned by users. They hate the decentralized nature of Bitcoin because they cannot control it to profit from it or pose a threat to their economy.
2. They use traditional economic methods, do not understand Bitcoin technology, and cannot quickly obtain high profits or even losses by investing in it.

AakZaki

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Quote from: Fredomago on September 19, 2021, 03:51:47 PM

Even there are opposing bodies from the millionaires part, the growth of Bitcoin is no longer under their control. There are many investors who are willing to continue and manage to keep earning decent.

Bitcoin still hot in the eyes of many traders. The growing market shows opportunities and they are not going to waste this chance just because they heard news about rich people who hated the business.

An everlasting twist, as time come and we will hear different stories about the position of those opposing people once they already
understand how beneficial this market can be.

Those from the millionaire section can only manipulate to influence the bitcoin market, but will not fully regulate bitcoin, because in fact bitcoin will not be fully regulated by anyone.
Bitcoin is indeed being hype and is getting more and more enthusiasts. Bitcoin is becoming a very valuable digital asset today, there are many opportunities that exist in bitcoin or in cryptocurrencies, don't waste this opportunity.

cevap

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Crypto made a lot of people rich in very short period of time and still can be one of the most profitable investments. Trust me, most people with money will do everything to make sure others don’t get rich, because each next millionaire makes their money worth little less. Greed is the driving force of humanity.

olib123

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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..

Topic: Why some millionaires hate Bitcoin? - page 3. (Read 2823 times)