Why some millionaires hate Bitcoin? - page 8.

Rigon

sr. member

Activity: 994

Merit: 441

Quote from: mk4 on June 11, 2021, 09:09:30 AM

1. Warren Buffett doesn't understand technology
2. Donald Trump clearly said that Bitcoin is a risk to the USD
3. A lot of rich people(or people in general that aren't poor) think Bitcoin is unnecessary because they're privileged. They think Bitcoin is unnecessary because they're and their country is doing fine (at least as of now); completely ignoring other people living in communist and far more corrupt countries.

Warren buffett a gentleman who the one of the richest man in the world but you can't tell him a person who don't know about bitcoin. But he has another issues to not invest in cryptocurrencies. Donald trump not agree with cryptocurrency because he doesn't like air thin money.

randegibran

sr. member

Activity: 882

Merit: 252

everyone knows.that bitcoin has.grown so fast in.the last feed.years and its.development is.very fast and can.make people rich in.just one night.so that's.why bitcoin is.so hated.by many millionaires.thus they are afraid.of their venomous.business rivaled.by bitcoin especially for investors.who can.match the profits.of some of.these millionaires.therefore they continue to build a bad.opinion of the.cryptocurrency

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: Fredomago on July 08, 2021, 10:53:42 AM

Jealous from those lucky peps who made it and changed their lives after investing to Bitcoin. Tongue

The issue is that those millionaires might have made their money in wall street who played in the centralized market where they were able to control the market with their company inside information and when they see Bitcoin as a decentralized market they do not have a clue on where to start as they have no idea how to control a global market and that is the reason why several institutional institutions took a long time to dive into the cryptocurrency market.

oemar bakrie

full member

Activity: 1260

Merit: 100

SOL.BIOKRIPT.COM

their views may have been proven by the fact that the brand does not like bitcoin,, my view is because bitcoin does not have a security that can calm its owner, and also realize bitcoin is only an illusion for those who hate it

toast

sr. member

Activity: 1582

Merit: 253

I think a reason for this hate or disapproval is the lack of knowledge, leverage and the drive of such individuals in making use of crypto into something that could benefit them. If they would only discover and choose to see how indulging into crypto could bring them more benefits, I don’t think that hate will exist anymore. However, for some who are reluctant of change and modernization, I do not think that they will ever appreciate crypto.

SacriFries11

sr. member

Activity: 882

Merit: 253

Because of its volatility and they cannot predict when the value will go up. They see it as a scam or it can easily be hacked. Most millionaires prefer investments that are much safer and regulated. And they also want to protect their hard-earned money and secure the future of their families. They are also lack of information and knowledge about the technology of bitcoin.

kotajikikox

full member

Activity: 2548

Merit: 217

Quote from: ?? on ??

Reliable and promising token UNION
There are 10 hours left until the end of the airdrop! Join, invite friends and get tokens. Follow the link
https://unioswap.com/W9G62SB Wink

Stop spamming the forum with Unrelated posts like this , Create your separate thread if you want to advertise this Shitcoin.
and besides Swapping with new project? that's a Joke.

Reported for deletion ..

Quote from: toast on July 08, 2021, 12:25:52 PM

I think a reason for this hate or disapproval is the lack of knowledge, leverage and the drive of such individuals in making use of crypto into something that could benefit them. If they would only discover and choose to see how indulging into crypto could bring them more benefits, I don’t think that hate will exist anymore. However, for some who are reluctant of change and modernization, I do not think that they will ever appreciate crypto.

Millionaires has their own views in every profiteering , some are looking into virtual while others in actual/physical .

germsite

sr. member

Activity: 1009

Merit: 261

Quote from: Xinarae* on July 08, 2021, 10:27:33 AM

The reason some millionaires hate bitcoin is because they have no knowledge of bitcoin and cannot use it properly. Greed later invests without knowing anything about the market my research on bitcoin has convinced me that it can not only hedge against long term inflation but also act as a short term investment due to higher volatility. Successful traders are those who learn to analyze the market keep the market informed and keep trying different strategies choose a platform that provides you with a built in trading simulator for practice.

Their main reason is that they are simply invested in another assets class. Asset classes compete with each other for peoples' money. If you have a lot of real estate, do you want people to put their money in gold? And if you have a lot of gold, do you want people to put their money in stocks? You get the idea, and when it comes to Warren Buffet it becomes very obvious why he doesn't like Bitcoin. A lot of people, specifically from the younger generations (and even more and more from the older generations) have a choice these days. Namely, do they put their money into stocks (which Buffet holds) or do they try something new and go for Bitcoin? They didn't have this choice a couple of years ago.

NelfiNovita

full member

Activity: 640

Merit: 104

They hate Bitcoin because they don't benefit from investing in bitcoin or they don't understand blockchain technology. Those who are smart and understand how to trade and invest in bitcoin then they strongly support bitcoin to be used as a currency and as a tool to store wealth.

TopTort777

legendary

Activity: 2478

Merit: 1492

Quote from: imstillthebest on July 08, 2021, 12:59:36 PM

Quote from: TopTort777 on July 08, 2021, 05:03:02 AM

This hate can be caused by fact that some people have worked hard their entire life, while others simply bought right asset at right time. I think that they are just jealous that other found simple and quickest way to get rich.

it take years before btc grow like this and investing in the early days is not easy .
btc investors do also put an effort to get what they have now . why would they be jelous but they can do the same and it was not too late yet to invest in bitcoins .

What kind of effort BTC investors put? Buy from a newbie miner in 2014, wait for 4 years and multiply your investment 66 times?
How a regular millionaire looks like? A guy who worked tens years to develop business. They don't just buy, sit and wait. Look at Forbes billionaire list. None of them sit on their asses and wait till their company and capital grow by itself. They are jealous that other got everything more easy. They are jealous that someone believed and crypto and they not.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: Abiky on July 07, 2021, 12:21:14 PM

~ Some millionaires know Bitcoin's potential, so they invest in it secretly even if they spread negative comments about it in public.
~

That makes sense. If you know that BTC will rise in the future anyway, you spread negative news and opinions among your followers(it's especially effective when there are many of them) to lower the price. Why buy expensive if you can buy cheap? Then once it's cheap - you buy and wait. It can take couple of years, but we all know what will happen eventually.

Quote from: Abiky on July 07, 2021, 12:21:14 PM

What matters here is that Bitcoin remains decentralized and censorship-resistant so that people can enjoy truly sound money outside the scope of banks and governments worldwide. Bitcoin will remain resilient regardless of what wealthy people like Warren Buffet and Donald Trump say against it. The new generation (millennials) will embrace Bitcoin, paving the way for long-term prosperity. We'll be seeing more millionaires in the future, as Bitcoin soars towards new All-time-highs. Just my opinion

I absolutely agree with you. Moreover, since COVID-19 has advanced the world's understanding of new technologies(it's been discussed in another thread here), tens of millions older people have now joined the game. I bet many of them will embrace Bitcoin too.

samsul1234

member

Activity: 532

Merit: 11

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

hello sir, I think the reason they hate bitcoin is that most of the speculation is very high, and the rich people are not sure about the benefits that bitcoin gives because they know that very high speculation will not stabilize the price and they are not interested in crypto because of the dangers very high speculation itself

jinneas

member

Activity: 116

Merit: 23

They are the winners of traditional financial orders. For their own interests, they will try their best to safeguard the financial system supported by the government. Bitcoin is decentralized, not controlled by institutions, and can be traded arbitrarily on a global scale. It makes people free. Bitcoin brings people high profits and can enable people to achieve wealth freedom. Those rich men don’t want investors to profit from Bitcoin, and they don’t want others to become rich through Bitcoin.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: TopTort777 on July 08, 2021, 05:03:02 AM

This hate can be caused by fact that some people have worked hard their entire life, while others simply bought right asset at right time. I think that they are just jealous that other found simple and quickest way to get rich.

it take years before btc grow like this and investing in the early days is not easy .
btc investors do also put an effort to get what they have now . why would they be jelous but they can do the same and it was not too late yet to invest in bitcoins .

Fredomago

legendary

Activity: 2996

Merit: 1054

Leading Crypto Sports Betting & Casino Platform

Quote from: TopTort777 on July 08, 2021, 05:03:02 AM

This hate can be caused by fact that some people have worked hard their entire life, while others simply bought right asset at right time. I think that they are just jealous that other found simple and quickest way to get rich.

yeah right! that's also a good point there. Those rich people believes that getting a fortune should come from your hard work, unlike with Bitcoin where if you bought it or mine it 10 years ago and keep everything till now, the fortune that you gained is far higher than those who creates businesses and established it that takes them more years before enjoying their success.

Jealous from those lucky peps who made it and changed their lives after investing to Bitcoin. Tongue

Xinarae*

sr. member

Activity: 1414

Merit: 326

The reason some millionaires hate bitcoin is because they have no knowledge of bitcoin and cannot use it properly. Greed later invests without knowing anything about the market my research on bitcoin has convinced me that it can not only hedge against long term inflation but also act as a short term investment due to higher volatility. Successful traders are those who learn to analyze the market keep the market informed and keep trying different strategies choose a platform that provides you with a built in trading simulator for practice.

TopTort777

legendary

Activity: 2478

Merit: 1492

This hate can be caused by fact that some people have worked hard their entire life, while others simply bought right asset at right time. I think that they are just jealous that other found simple and quickest way to get rich.

Caldear

member

Activity: 114

Merit: 10

Bitcoin is valuable to people, they can achieve wealth freedom through Bitcoin. But some millionaires don't want to see others become rich through Bitcoin. Bitcoin is decentralized, not regulated by the government, and its characteristics make it impossible for them to control wealth. This way they can't make a profit, which is not good for them, and they will hate Bitcoin.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Quote from: Golftech on June 16, 2021, 11:13:12 AM

Quote from: Lorence.xD on June 16, 2021, 03:58:02 AM

~

Indeed, they are more engaged with something that they are seeing in physical, more on the actual thing and not

just by specualtions, those rich people who builds empires of businesses are not easily convinced that digital assets

will achieved more supports especially if everything are more relying with specualtions.

The problem with their coldness towards bitcoin is that bitcoin is built on a platform that was rife of scam and it's not like bitcoin was a pure thing because back then it was used by scammers and other malicious people so that impression might really have made them not consider bitcoin. Bitcoin doesn't need this people, they will come to bitcoin when bitcoin finally proves itself to this people.

rokon1234

member

Activity: 462

Merit: 16

Many individuals and organizations are now self-sufficient because of bitcoin.Because of this, rich people think that one day they too will become rich.I think that's why rich people have started hating bitcoin.

Topic: Why some millionaires hate Bitcoin? - page 8. (Read 2823 times)