Topic: Why some millionaires hate Bitcoin? - page 9. (Read 2823 times)
Most of it is just lack of knowledge imo. Every new technology has its haters. If you look back a few years ago, many many bankers were saying it was a scam and a ponzi or whatever, but now they are all investing their hedge funds into crypto and have held back criticism after buying in. Honestly seems to me like they are talking down about crypto just to lower the price to get better buy ins. In the end, rich people love making more money, and crypto is just one more way to do that, so why would they avoid it unless they just don't understand that yet.
There are indeed many rich people who reject digital currency because it is a virtual asset for them, and they prefer something that can be seen in their hands. There will also be many people because they don’t understand and other people’s explanations don’t understand, because their inherent business can also make a lot of money, and they are good at doing it. Not everyone can become Buffett's thinking and investment logic, not to mention that Buffett is not interested in Bitcoin.
Some millionaires that hate bitcoin don’t understand what Bitcoin stands for, most of them are afraid of losing their money because of so many scams associated with online transactions.
They are naming it as a scam because they don't understand it. But some of them even understand bitcoin, they don't want to get on in because they think that it's only associated with scams and crimes. This is an old belief that has changed over time.The mainstream has adopted bitcoin and they surely know that a country has adopted it as a legal tender, they have gained knowledge through news and that's what they know about bitcoin. They're just not sure if it's a good investment until now but they'll understand that it is and when they do, they probably have missed already the trend for buying it cheap.
Some millionaires that hate bitcoin don’t understand what Bitcoin stands for, most of them are afraid of losing their money because of so many scams associated with online transactions.
some millionaires based on the articles I read why hate bitcoin is because they think bitcoin does not have a good future, and the concept of bitcoin is not suitable for those who are in real business because bitcoin is not real. This is the opinion of one of the millionaires that I got from an article on Google and they said that.
Some Rich people don't like and believe cryptocurrencies because they don't have enough knowledge about Bitcoin and they don't focus themselves in to public. Donald trump and warren brafet two the gentle Man don't like Bitcoin because they always say Bitcoin a decentralized..
bitcoin is very attractive to many enthusiasts.which makes.millionaires so amazed by what the crypto business is doing, because bitcoin is like a crypto gold that cannot be understood.by everyone, especially some millionaires who will certainly.think how someone makes.money from bitcoin Of course, everyone also wonders.how bitcoin works.that's why they hate crypto so much because they don't understand the business, so there.is a negative.opinion,about bitcoin.
When you are wealthy, you automatically hate any changes and everything that might cause those changes. Millionaires want to maintain status quo forever, but, unfortunately for them, that's not how things work in this world. The wisest from them are aware of that, of course, and now actively buying BTC at low price.
Millionaires are usually selfish, so they don't want anyone else (especially noobs or amateurs) to become like them within such a short amount of time. Crypto has certainly made some millionaires, thanks to the astronomical increase in market prices since its inception. It becomes hard to ignore Bitcoin as a serious long-term investment as since its price only goes higher over time. Some millionaires know Bitcoin's potential, so they invest in it secretly even if they spread negative comments about it in public.
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
We are not interested if they hate Bitcoin or not cause since it's a great opportunity to invest in Bitcoin and other cryptocurrency, then who cares if they are against it. Ignorant and stiffness will always make some rich people to despise the truth following their own thoughts only not minding any circumstances that could ensued.
I still believe they have the money and what it would take to promote the existence of Bitcoin so that everyone will benefit from the great opportunity Bitcoin has to offer but most will still ignore it as scam.
I still believe they have the money and what it would take to promote the existence of Bitcoin so that everyone will benefit from the great opportunity Bitcoin has to offer but most will still ignore it as scam.
The rich have their own solidified channels to make money. They are still rich without Bitcoin, and they are even afraid that Bitcoin will grab their share of the money-making field. Of course, Bitcoin also needs rich people with knowledge of encryption technology to participate. According to the current situation, most people do not have such a consensus.
This is definitely one of the reasons. If Bitcoin presents itself as a good option for investment, then I am afraid that very few would opt for other investment options such as stock market. This will in turn affect the already existing billionaires badly, since most of their assets will be in the form of stocks. And then there is the issue with jealousy. People like Warren Buffet, who spent 5 decades of his life to get rich can't come to terms with kids in their 20s becoming billionaires in just a couple of years, from their investment with cryptocurrencies.
at this point in their view bitcoin seems heavy to be used according to its original function as a currency. Moreover, they think it will be difficult if the government leaves the centralized system, which can be controlled. In other words, bitcoin doesn't seem to have a real function in life, so they think bitcoin is risky for their investment, although not all rich people think like that
They can't be ignorant of Bitcoin. The reason they hate Bitcoin is because Bitcoin is a decentralized cryptocurrency that is not controlled by the government, and their projects are controlled and supported by the government. Profits, if investing in Bitcoin is fair and just for everyone, they can't get high profits from it, so they will insist on profitable ones and hate Bitcoin.
The rich have their own solidified channels to make money. They are still rich without Bitcoin, and they are even afraid that Bitcoin will grab their share of the money-making field. Of course, Bitcoin also needs rich people with knowledge of encryption technology to participate. According to the current situation, most people do not have such a consensus.
They are traditional investors. they are not tech savvy.
Bitcoin has high volatility.
Bitcoin is decentralized, perhaps they don't want to share their wealth with people they can't control them.
Bitcoin has high volatility.
Bitcoin is decentralized, perhaps they don't want to share their wealth with people they can't control them.
They do this because the government hates crypto. But in fact, most of them actually invest in bitcoin or other cryptocurrencies.
- The criterion of business people is to keep a neutral attitude and support the opinions of favor for their development, and the government is a direct factor that can help millionaires, they will certainly express a consensus with the government but respectively, bitcoin also supports their investment, helping them to double their income. Sometimes it doesn't stop at this level either and their neutrality is friendly to government rule but proceed to invest in bitcoin in the back, millionaires and rich people only talk about benefits, no hate here 
The most appropriate reason seems they do not want to be rivaled by the presence of this bitcoin, as we know bitcoin one of the very profitable businesses and bitcoin is also at the top as a profitable business under Apple,
That is almost a controversial statement but yes it’s a fact.
Businessman likes the way they are in, they don’t want any competition with other people.
And as the name suggests Businessman, so they look into the things which will benefit or give profit them.
Like elon musk, they buy an altcoin in a small price and promote it, so when the price goes up they sell it and earn profit.
Hope this clears your doubt OP.
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?
I know someone that they believe that bitcoin is a scam which is not because they said that they lose money of about almost $14,000. Why do they say that? Because they just put their money with those scammers (people) and not in bitcoin itself. They don't actually know how to buy bitcoin with their money. If only they know-how and they know the cryptocurrency well, for sure they will put a lot of their money into it and support bitcoin. Thoughts?
Well, why do some millionaires hate Bitcoin? Not just millionaires, but multi millionaires and billionaires as well, hate Bitcoin? Well most of the them of course does not have a grasp of the technology that is being used in Bitcoin and cryptocurrency in general. So without the said knowledge, of course they would not dare risk a lot of money to something that they do not understand. And they simply rely their riches to traditional investments and business, which I don't really blame them, but if that is what they want then let them do what they want.
When you are wealthy, you automatically hate any changes and everything that might cause those changes. Millionaires want to maintain status quo forever, but, unfortunately for them, that's not how things work in this world. The wisest from them are aware of that, of course, and now actively buying BTC at low price.
I think BTC is unpopular with some and there are some millionaires who see it as a ponzi scheme. and at some point it will collapse like a bubble burst which also means that they will not be able to put their assets in a short-term investment. All because they don't understand the technology of BTC and see the profitable future it brings.
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