Bitcoin Forum

It has been a while now that I have been watching (FIAT) financial advisors on television being guests on talk shows or Breakfast shows talking down at Bitcoin, whenever they get a chance. This morning another so-called financial expert was invited to a breakfast show and he smashed Bitcoin as an investment option.

Now let's get behind the real reason for this :

1. Those so-called financial advisors (brokers) gets paid a fee to manage other people's money. Why would they promote Bitcoin investment, if people do not need them to trade Bitcoin?

2. They get commission on the financial products that are being sold to their customers. (They get nothing if you buy your own BTC)

3. People do not need "expert" knowledge to invest in Bitcoin. You go to computer... navigate to a local Crypto exchange... open an account online and link the account to your Bank account. Then you wait for the price to drop and you buy some bitcoins.  ::)

4. They are also butt hurt, because Crypto currencies are not regulated to protect them.

5. The percentage that you invest in Bitcoin or Crypto currencies..are not available for them to invest in their investment options.

So, next time when you see those financial advisors on TV bad mouthing Bitcoin, think of the things I mentioned above.

A balanced portfolio should have a mix between "low" / "medium" / "high" risk investments.... and Bitcoin will fall within the "High" risk investment category .... so do not tell people to avoid it, because you cannot make money from them making their own investments.  ::)

https://cointelegraph.com/news/at-8-990-000-gains-bitcoin-dwarfs-all-other-investments-this-decade

“It’s the best-performing asset of the last decade for sure,” said Daniel Polotsky, CEO of CoinFlip, one of the largest bitcoin ATM companies in the U.S.

Say you got into the game when a bitcoin was 10 cents, around October 2010. If you invested $100, you’d have been able to buy about 1,000 bitcoins. <=== $29 610 000 worth at today's value. What will you say in 12 years from now?

I do not think members of the forum would be much bothered about such talk shows or rants, neither are they the target audience. Such naysayers usually target individuals who are not savvy on Bitcoin and who have become so into the traditional system and playing it extremely safe (even though that poses risks).

And I'm not too bothered about such talks; I have a weird opinion that it might actually be good for those who listen to it; If one would blindly believe a TV guest without doing their own research then maybe they should not be into Bitcoin at all, as they would sell out at the slightest bear threat and blame whoever may have introduced them to it for their ruin.

Well, this is not a surprise. Even within the same industry like Banking or Telecom, people of a particular institution will tell you their institute is better than the other because they want you to invest in theirs even while they are all providing the same or similar service. At the end of the day, whatever these guys say might not have any further negative effect on Bitcoin cos investors understands more and we don't expect them to praise Bitcoin in the first place.    

We are used already to these kind of people. Even the guys who already are into BTC, them who already bought BTC and encourage people to buy BTC still have some bad motive to BTC like Kevin Oleary who seem to have branded Green Bitcoin is good and if mined using the coal or fossil fuel its a Bad Bitcoin because it wasted energy. If the likes of him does bad mouth BTC, all the more to those fiat guys.

Terrible idea that they wanna tag BTC that is being mined from China. This is what the Davos guys are framing.

Let me not even start with how the so-called experts at Davos are picking it apart. ==> https://fortune.com/2022/05/24/crypto-davos-kristalina-georgieva-christine-lagarde-francois-villeroy-de-galhau-sethaput-suthiwartnarueput/

The collapse of the stablecoin TerraUSD did not help Bitcoin's cause... because they are using that as "red" flag to motivate the FUD that they are spreading.

Most of those people come from the Banking system and the government, so they are anti-Bitcoin from the start... they have to protect the hand that feeds them and they have to have control over the "money" that people use.  >:(

FWIW this is a false statement because you aren't taking the risk into account. In early days people who saw bitcoin were faced with a very experimental currency that might not have lived to see past a birthday or two. So anybody buying it back then would have been taking a much bigger risk that anybody buying it today that bitcoin is 13 years old, has a strong network, is adopted in multiple countries as a legitimate currency and a legal tender in a country or two.
In other words calling bitcoin a "high risk investment" now is silly in my opinion.

I remember watching a few of those shows years ago and what they are doing against bitcoin is what they would do against any competitor, if you talk to a real estate agent about their opinion of stocks they will tell you they are too risky and that real estate always goes up in value, while a stock broker will say the opposite, basically they are just trying to gain a customer and nothing more, so it does not surprise they say the same about bitcoin.

Maybe there could be some, specially newbies in crypto market. Bitcoin is now being covered by traditional social media like CNBC, and so if those beginners see that the host or the guest are attacking bitcoin, they might experienced some qualms about their investment. Nevertheless, they will have to experience this negative sentiments and learn how to channel it in a positive way by just laughing at in and then buying some during dips.

I don’t know why someone gets upset when they hear or see that someone has a negative opinion about Bitcoin? Whether it's just ignorance or someone being paid to say negative things doesn't matter at all as long as we can check if something is true or not without blindly believing anyone.

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It seems so simple, but is it really so?

- Does one average potential investor know the difference between Bitcoin (BTC) and various clones also called BitcoinXXX? People buy what's cheaper, and they often buy altcoin, and it's even worse when they send that same altcoin to the wrong coin address - so have someone explain to them how to fix it...

- In case someone still buys BTC on their local crypto exchange, will they keep it there or move it to a non-custodial wallet - do they know what an on-chain fee is and what a service fee is?

- People who approach the Bitcoin investment without knowing exactly what they are getting into are very likely to fall victim to scams, hacks or sell at a loss in moments like the ones that happened recently.

Plus, how many of the 2010 Bitcoin holders held their Bitcoin up until today without ever selling?  Think of the risks of investing and going through the 2015 crash.  Then the 2017 - 2018 one.  I imagine more than half of them were gone by 2015's crash and the larger part of the wallets that have not moved since 2010 up until today are either lost wallets, the owner died, they forgot the password or location of their coins or finally, the holder had hands and balls of steel to simply hold which I can not imagine happening in real life.  I doubt any of us would be emotionally capable of going from $100 to almost $30,000,000 without ever selling.

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Regards,
PrivacyG

You do realise that they are on the talk show and which means they are either there to increase their own resume columns, get paid, have nice free coffee and stuff?

Today’s world is all about what you see, listen and believe in. For me Warren does not matter but Elon does because I’m in crypto and I would always follow person who has same faith and whose developing this side of ecosystem.

In similar fashion, I wouldn’t care what talk show expert says! If someone’s talking positive about crypto on talk show then I’m fan, because that’s what I want to believe.

Well, I bought some bitcoins back in 2013 for something like $700.... so I made a massive profit on it and it did not break my Bank.  ::)  How many people will not have tried to spend $100 on something with a high risk... if I dropped a lot more into it, when it was still highly controversial to buy it.  ::)

Even if you bought at $1000 / $2000 / $5000..... it would have given you a massive profit... if you had the balls to hold onto it.  ;) I also think...calling Bitcoin a high risk investment... is not silly at all. In my opinion it is still in it's experimental phase, because we do not know if the tx fees will be enough to sustain the mining... when the Block reward fall away.  ::)

I will label it as a high risk short-term investment ....or a medium risk long-term investment.  ;)

I don't watch TV, so I didn't know it was a thing (and I don't think it is a thing in my country on TV, actually). I do agree with the op that it sounds like they are undermining Bitcoin just because they feel threatened by it and feel like it's in their best interest to scare potential clients away from something volatile and something they can invest in on their own. That's why it's great when TV shows mention cryptos in a positive or at least neutral way, to sort of balance the negativity of the talk shows.

It's kind of like how people who get paid to advertise stuff really. You don't exactly say the negative stuff upfront to the viewers, that'd defeat the whole point of you advertising it. It's either you praise the product/service to the heavens or put down other similar or compared products/services to hell. It's nothing new, always been a part of shows like these.

And in the first place, I don't even watch TV anymore. It's been forever since I've even touched a TV, let alone watch on it.

I've got the point where as soon as someone on TV starts talking about Bitcoin, I roll my eyes, and just turn it off. They rarely have anything of substance to say. Usually, the same regurgitated crap that everyone else says.

You're right though, they have bias for speaking that way.

So, while I do agree with most of your points. This is where I don't agree, while buying Bitcoin might seem easy from a user that has been doing it over several years. You present the idea to a person of the general public, and they wouldn't have a clue. I still have people around me asking whether you can buy real things with it...that's how misinformed the public are. That isn't of any fault of their own, the news has pushed this idea that Bitcoin is rather worthless, and limited, which at the beginning could have been somewhat true, though times have definitely changed.

Anyway, the reason I disagree with this somewhat is; basically as soon as you buy Bitcoin you're effectively your own bank. So, if you wish to hold a large amount of Bitcoin you do need to be security conscious, and hopefully have some knowledge about it. Now, this isn't common knowledge. Securing money is something we've relied on banks for years, and years. We don't need to have any knowledge to rely on these, since they do all the security work for you. Whereas, that isn't the case with Bitcoin. Obviously, users like you, and I might see the lack of a third party as beneficial, but not everyone will due to the lack of belief or knowledge they have.

Effectively, to be able to purchase Bitcoin, and secure it properly you need to learn about common security practices i.e strong passwords etc, isolation be it physical or virtual, and the drawbacks of that. Plus, social engineering prevention, securing credentials, and/or wallets physically.

There's a ton of work including learning the software that Bitcoin relies on i.e Bitcoin wallets. This is much more than just linking up your bank account, and buying some Bitcoin. That suggests that the person is leaving their Bitcoin on the exchange, which is definitely not recommended as we all know.

Fiat as become somewhat easy to use over the years, Bitcoin has a long way to come, and probably won't ever be as simple as fiat, due to the fact you cut out the third parties which do much of the work for you.

It is a mistake to look at the past and think that in 10 years you will get the same result or a result similar to what happened in the past because the rate of increase will not be the same, meaning investing $100 today will not achieve the same return that it was 10 years ago.
The good side of Bitcoin is that it is still in the beginning, so if the demand continues to grow, betting on it in the long term is much better than betting on paper money or gold.

As an investment, it is better to avoid any investment that you do not understand, no matter what the return on this investment is.
If you do not understand how to manage your private key or protect your money, there is no point in buying Bitcoin.

As for listening to the advice of these locals, do not take it from an emotional side, but rather think and do your own research, meaning listen to everyone, think and conclude for yourself.

As a financial advisor I can speak to this topic and for the most part I would agree with you. The reason I became a financial advisor is because I wanted to truly help people out and make a difference in their lives, regardless of my bottom line. A lot of financial advisors are truly like this, same way they are with owning precious metals, they want you to buy PM equities instead of physical metals because they don’t get paid on it..but not all are like this. Also the regulation part does not scare us.

It' is not surprising because every person will like to protect the interest of were is benefiting. If you are protecting or promoting fiat currency op, and you are receiving much from the work, you will never condemn the interest of fiat but Bitcoin. Now some of us have study bitcoin and invested in bitcoin very well, and nothing will make us to value fiat more than bitcoin, rather bitcoin will be recognized and values until the person's eternity. I financial advice is kind of financial promoters so whatever they said, is of the detriment of their business and their own. When cryptocurrency person also call for invitation, it will do same thing to promote Bitcoin and condemn fiat

May be the owners of the TV show willingly invite those people who are against bitcoin at first place.
May be those speakers are being paid by other bitcoin haters to speak against bitcoin.
It can literally be anything but the only thing we should be concerned about is that we should highlight why bitcoin is so valuable.
The power of owning your money and using it on a peer to peer network is very fascinating and I think this is why people will eventually start using bitcoin across the globe.

Financial advisors are only allowed to voice opinions that are pre screened and approved by the broadcast network and affiliates.

The coordination and appearance of a "unified front" might make that apparent via logical deduction.

People aren't prone towards having the same opinion and views on topics as controversial as abortion, cryptocurrencies, gun laws or bitcoin.

If everyone on TV says the same thing, the probability of their views being screened and controlled are decent.

This is a great example of the need for independent media which is less prone towards conflicts of interest.

Anonymous bloggers can be more honest and reliable in contrast to most major media sources.

Most professional journalists I have seen in recent times are so bad at what they do, its shocking to me that anyone listens to anything they say.

Because that's their heinous task in providing bad food for society. Do not be surprised that Bitcoin has become commonplace among the people and they can already distinguish what Bitcoin really offers. Despite the fact that they launched a bad attack from a financial point of view, we can see Bitcoin adoption in every country increasing. This means that there is no significant influence from annoying chatter by people who do live on paper inflation. In short, what is being discussed is simply not wanting the money to go out without the knowledge and supervision of the state financial agency.

Well, as long as bitcoin continue to be a threat to fiat, then expect that some financial advisors will always go against with bitcoin too, and i think we bitcoiners are used to it and does not find any relevance at all. So better ignore them for all we care. After all, its them that they miss the chance to experience what bitcoin has to offer, and luckily for us that we did not become close minded and now we almost experience financial independence with the help of bitcoin.

In my opinion, there is nothing to take seriously about the interview of the state financial advisor on television. It will only be a fleeting and boring spectacle. People tend to turn on the TV for entertainment, and many who watch will be sicker of seeing financial advisors talk about Bitcoin. The proof of course we can see the impact after the interview? there isn't any

Who cares? Even I don't have time to see any kind of talk show lol. How would I hear their advice? They are fiat financial advisors and of course, they are doing their job. Nothing wrong, very rarely do they have knowledge about Bitcoin or they can't go against fiat. In a country, there won't be two currencies, to be honest. So fiat financial advisors should only focus on advice based on fiat.

However, we are alive in the Bitcoin world since we are active forum members. We don't need to hear the lecture from a fiat advisor nor its much useful for us lol. We believe in decentralization and Bitcoin, we will continue with that.

You are so right about the No.3 on your list, btc or crypto investment is literally the simplest and easy investment I know of, before the cryptocurrency era, investment used to be for influentials and professionals mostly, not for anyone. But crypto changes all that and makes it easy for people from the grassroots to be able to invest.
And this simple yet important part of crypto is among the many reasons financial advisors won't speak good of btc because the number of clients has been reduced drastically.  People can invest comfortably without seeking the help of a financial expert.

And more importantly, there are, now, much more resources to study and figure out what the hell is it. If you weren't into cryptography, programming etc., in 2009-10, you would have a hard time understanding what's bitcoin, what's the problem that it tries to solve and how.

Probably only those who forgot some sort of password and got access years later. We witness such cases every once in a while.

Everyone wants to be an advisor, it would seem that way to me.

Unfortunately a lot people people don't have the know-how that every advisor needs and wants. A lot of them are just pretending to know something about anything and that casts a bad light on the real advisors who do know what they are talking about.

I think a lot of these fiat financial advisors who are hypocrites about Bitcoin are the first kind of advisors. Please do not pay them any attention.

A real financial advisor who understands Bitcoin would definitely be a coiner, themselves.

Broker and advisor is not the same. One can be an advisor without being a broker. And all the crypto youtubers and bloggers are technically financial advisors who promote shitcoins. Even if someone tells you to buy Bitcoin, you shouldn't instantly trust them. Some scumbags promote trading with high leverage or using shady exchanges that inevitably leads to huge losses.

It doesn't change the fact that people sell this "expert" knowledge. Just look for people selling courses of how to invest in bitcoin or trade it. They tell you it's easy because this line goes there and this line goes there and there's a fib level over there. :D Then Musk decides it's time to dump it all and stop accepting it as payment or a shitcoin goes belly up and there goes your line.


You talk to us like we're some doubters who see some clown on TV and get rid of our bitcoins because he said so. I've seen so many of these clowns. Last week I saw an article about some guy who in 2021 claimed we'd reach 400k USD now changed his mind and is saying that bitcoin will crash to 8k. Some people are just morons who know shit and like to show the world how clueless they are.
There's this saying that my father likes and it translates more or less like this: do you know why the bell is loud? Because it's empty.

Anti-bitcoin campaigns are very easy to shill out. There is nothing difficult about it. What the campaigner or crusader needs to do is to tell the people what they want to hear about fiat. Save and save and invest through people and companies and in the end the campaigner will bash bitcoin to summarize it.

If the so called financial advisors wants my credit, they should come with a very new concept that the people do nor know, like bitcoin and advice on it and let's watch it happen.

Members of this forum are well aware of the plots of these so-called financial advisers who do not know what finances are all about, they may choose to talk against bitcoin and other decentralized currencies sin7this currencies put them out of business just as you have mentioned.

They are lost out in the current happening as it regards investments and asset holdings.

These financial advisors have a lot of power. They're dictating where people put their money. The high net worth individuals are the ones that will seek out professional counsel on their finances. They're the ones that can afford it. So it's large volumes of money that are potentially being diverted because of traditionalists that are allergic to innovation. I've seen some financial advisors that would recommend high net individuals put some portion of their funds into crypto. This isn't a slight at them. They don't believe Bitcoin to be a currency so they treat it as digital gold. I'm okay with that. Others don't treat it as a currency nor a commodity.

That is a pretty illogical and poorly thought out attack on financial advisors on behalf of Bitcoin. Professional and properly regulated financial advisors have a duty to keep peoples money reasonably safe ideally with a reasonable rate of return on investment. Any advisor that is worth their reputation should only have less than 5% of any individuals wealth in highly speculative assets, unless that person has told them to put much more money into it and are fully aware of the risks associated with that. We're talking about Bitcoin, which if someone had invested 100k into about a year ago, they would only have half the amount remaining now, but you sem to think of it as some infallible asset - it is extremely risky and not what sensible people should keep large amounts of their wealth in. It's easy to speculate when you have no money, as many people here might suffer from.

Financial advisors are economists who attend the demands and orders of the local establishment. Many of those guys live from income they make lecturing at big events sponsored by big businessmen, oligarchs and monopolists, which put them in evidence to be called by TV news to make appearances, what consequently also boost the sales of their books and works in general.

If these experts go against the interests of those who pay them, that is, to introduce common citizens to bitcoin as an acceptable and possible investment option, they will totally lose the financial support, reputation and status, being replaced right after for an expert else who accepts playing the establishment's game.

It's like being part of a club or of a group of friends for long decades, and suddenly turn against everything this group wants you to say and to believe.

Are you really surprised by that? They always did it and they'll keep doing it. Some of them because are ignorant, others because get paid, and others because think the missed the opportunity so they hope the whole crypto world will fail so they can say "I told you". I really don't care anymore about people, I just feel a little sad for them for whatever reason they're doing it anyway.

This is something people are used to seeing nowadays. All these so-called (FIAT) financial advisors have been hovering the same thing about bitcoin for several years now as bitcoin is getting its stand in the world economy market. I believe they already know its advantages and they can’t just believe it is working out. It may look like they dislike it a lot but they’re all after their financial gains that they don’t get any more as bitcoin has stopped some of that. They wish bitcoin never exists.
Listening to what people say about a thing online and following them blindly is another thing that one should not blindly do. If you like an idea or innovation, you do more research about it and do your findings, only then you can be on the right path with others.

True. The same also with tv stations and radio stations. I always hear them say that they are the best but they didn't know that I already hear this word on the other channels/station. I guess the only way to prove if who really is the best is by trying them one by one. That's the only way to tell if who is lying and who isn't. In terms of the conflict between btc and fiat. Id say that we that are here, already tried both and we can say that both have their advantage and disadvantage.

There is no need for them to hate btc and say negative things to it or idk, maybe those people simply don't know what they are talking about and they didn't tried btc yet.

There would be always those people or institution which do really give out their negative feedbacks about Bitcoin or crypto as a whole whether it's intentional or totally opposes on the whole idea of it's existsnce.Well we do know about that common like of "you can't please anybody" which it is really that understandable that why it's better to ignore these people or company/platforms on any negative words Bitcoin yet we do value more on what we are currently seeing and experiencing.

They can talk whatever they want and so far I don't think they have had a negative impact on bitcoin user growth. They are too busy centralizing the financial system to possibly ignore anything that makes a decentralized financial system better. In fact I haven't watched a show like that in a long time and would probably be happy to move the channel if it suddenly started.

One thing these anti-bitcoin campaigners don't know is that the more they mention bitcoin for all negative things, is the more it propagates.
How I got to this knowledge is that whenever I hear of any investment, if I want to research about the investment, I will not use such keywords as "what is ...". Instead, I will say, is so so investment a scam?
It is through this search keywords that I will get to the review of the investment, positive and negative, honest and induced.
Such thing happens with bitcoin, when they talk bad about Bitcoin they make the wise to be more curious to know and in the process they will definitely find out the truth. They only decieve the unenlightened and the gullible.

People like that should only have an effect on their followers or people who are completely new to Bitcoin or cryptocurrencies, don't want to learn more about crypto, and just want to invest their money without any effort and earn profits.
For these people, these financial advisors are very influential, especially if they appear in the big media, especially in their country.

However, for those of us who are already in the crypto world or who have the desire to learn more about crypto, there is no need to listen to them. Sometimes they are just a totality in theory but not in reality.

that is very right. they can call them financial experts or whatever, but if you are already in this market, you won't bother what they are saying to the media because you already know this market. maybe, they have influence to their respective followers or noncrypto users but at the end of the day, it is you who will manage your portfolio. so do what you think is right for your funds. you can listen to what they are saying but just filter the valuable insights. you don't need to follow all the things that they are advising to people. they are also human and can commit mistakes. you will be happy if you will follow your instincts and not somebody else's.

It is their skill in building trust in what they say. As a result, their followers listen and do what they say even if it's not entirely true. Indeed we should have some people who give us education about sensitive things like finances. But we cannot swallow everything they say, we must also be able to make our own research and if necessary compare the results of our research with what we hear.

Media channels,especially television, are often abused by financial advisors who sound like they are taking advantage of the situation. where famous people or even the government might also be involved in voicing it. to be more careful before investing money in digital assets especially bitcoin. Well we know the reason behind it :)

But it's a shame that moments like that are very easily caught by most ordinary people who ultimately think bitcoin is a fraudulent investment!  Sometimes I get a little annoyed when I hear it. but anyway i don't care what they say about bitcoin. I know consciously that bitcoin is not a fraudulent investment, Even since I found out Bitcoin in 2019 has changed my life much better than before.

They are such hypocrites. Some of them are just talking when the trend is there, or when the topic is popular but if not, they ignore or snob it.
Some of them just keep talking just for the fame and money too for sure. And most of them also the reason why some people are losing money too.

That's noticeable. A lot of them come out when it's a bull run but look after them when it's a bear market, the actual real people in the market are there talking and giving their opinions despite the bear market, they'll still say that they're bullish no matter what. These hypocrites and bandwagons from the fiat market will tell something that would be in favor of their audience because they've already built their community and look how expert they are just after a few weeks or months of studying the crypto market.

What were you expecting? I mean these are the people who are making money from the fiat investments like stocks and gold and so forth. These people need to make sure that bitcoin is doing badly so that they would be able to make some profit. I know that it is not a simple thing but at the same time we are talking about something that would be a lot better in the long run if you could hold bitcoin and it would make them lose customers and in return lose revenue and they do not want that.

I personally never use hedge funds or stuff like that, brokers and people who are looking to make a profit from what you are doing are not really that much caring about how much you make, they care about what they make.

That's just how they do because if they don't bad mouth bitcoins people will lose interest in what they will advise and they will lose their job and source of income. they are just doing everything they can to protect their source and of course, since no one will gonna punish them, they will do what they want from bad outing it to prevent people from investing in bitcoins. Thankfully, people are smart nowadays because of the biased media, they won't just take anything that people said on TVs rather they do their own research and most of them came up with good news when it comes to investing in bitcoins.