Bitcoin Forum

https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html

Not the real deal as they will offer indirect exposure to bitcoin. Interesting because it means much more pressure on the market as the funds need to have real bitcoins in their big fat belly. Will see.

They have huge influence and they are effectively endorsing the coins.  Very nice to read about.  Almost every day some new corporation is jumping in the action.

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Visa and Mastercard also gave a huge endorsement to bitcoin lately. These giants are indirectly preparing the public for an inevitable mass adoption that now is nearer than ever: all in less than 12 years.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Or they can just buy now.  And could've at any time since 2009. It is all about freedom and choices. People have the freedom to make good choices in buying or not. They can think long term (e.g. buy Bitcoin and keep it for 5-10 years) or short term and go out and buy Starbucks coffee everyday and forgo $2190 of Bitcoin per year. ($6/day * 365).  

I've told people about Bitcoin since mid 2010 and the thesis behind it. Most of those people chose to prioritize a new phone ($600 in 2011-2013) would've bought a lot of Bitcoin. Even at $30 in 2013, you'd have had 20 which are not worth ~$1.2 million.  Or they bought Starbucks every day.  Or they bought expensive wine or beer or liquor.  

Everyone has the same opportunity, and it is the ant and the grasshopper repeatedly.  People want to be the grasshopper short term, but then when the ant is rewarded, they complain.

Investments compounded over decades add up even outside of Bitcoin, but few people will be patient for 50 years. They want what they want now, and then pay the price later.

Are you quite certain Michael Saylor is good for bitcoin? You should read his tweets. It appears that he has his own ideas or rules on how bitcoin should be used and what should bitcoin be. However, I have not witnessed any bitcoin influencer argue with him as long as the price is pumping hehehehe. This is certainly beginning to be their playground.

I understand cr1776, and I get that in general peoples priorities are not
thinking about the future but rather "keeping up appearances" and falling
for the latest tech etc. etc.

Look I knew about Bitcoin back in 2013 when ny brother first got involved
but I didnt see what it could become in the future [now] so I understand
your point and agree fully,

But not everyone knew about Bitcoin back in 2013 or even 2017. There are
newcomers to the scene, the younger generation. OK the didnt experience
the early days where you could buy 1 bitcoin for $30 but its more difficult now.



i'm actually not certain Michael Saylor is good for Bitcoin thats a whole different
discussion. I understand why he is in now and I kind of get his motives to be
very active on twitter and yourtube, I know is that a lot of other people love the
fact that his presence and arguments for adopting Bitcoin are good for the increasing
price of Bitcoin.

I also know that he is helping to infleuence the Elite and possibly Morgan Stanley about
Bitcoin which is not wholly positive, its easy to get caught up in what is happening
currently, maybe we need to step back and reflect on the implications that these
big investors will cause?

It is all down to the famous Time  Preference: people  prefer  present  goods to  future  goods. Bitcoin should be the wake up call on this topic as perfectly explained by Saifedean Ammous in the bitcoin Standard

https://www.youtube.com/watch?v=EjVmEKKDgI8
https://www.youtube.com/watch?v=AH8HGVK3nRc

Good lessons! elementary really but not everyone is taught these at school.
Business and economics lessons in my country are reserved for the higher
achievers who would traditionally be employed in higher paying jobs or become
business people, The Elite we are talking about generally of course.

Now that you have an internet connection help yourself! You do not need to rely on school or universities for your own education! Educate yourself like everyone did with bitcoin! Nobody taught us how to deal with bitcoin  ;)

Yeah, I was attempting to relate personal experience with people, should've been clearer.  :-)

Well they aren't exactly directly the ones giving the Bitcoin investment option for their investors but it is with their partnership with Galaxy Digital and NYDIG both of which are crypto specific investment businesses. IMO Morgan Stanley just wants a piece of the pie and they are afraid that their own investors will just be going directly to these kinds of companies that they are in partner with that's why they did this preventive act by just partnering with them and simply give what their clients want. These seems to be what big traditional investment companies are doing now as their own clients see that cryptocurrencies is not a bad investment after all.

Agreed on the campaign to educate ourselves, however, be careful from where you get the education. If you get the education from Bullwinkle who teaches that bitcoin is digital gold and to disagree with this is wrong then you have to question the teacher. Many developers and users also came to bitcoin as an alternative to traditional payments.