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Author Topic: Why do Finance Experts "hate" bitcoin?  (Read 648 times)
latro12
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September 23, 2013, 03:08:14 PM
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I don't know what you have read, but it seems that mostly everything I read from individuals that have been in the financial industry for a long time seem to speak negatively about bitcoin? 

I was looking for a collection of what financial experts were saying about bitcoin and found a bunch of negative thoughts:

http://www.tradingacademy.com/resources/financial-education-center/financial-professionals-share-their-opinions-on-bitcoin.aspx

Why do you think they have such negative opinions of bitcoin?

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jamesdoe
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September 23, 2013, 03:21:05 PM
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One reason is that it is a threat to their investments and jobs. If the banks bread and butter business of holding peoples money and using it to generate interest is out the door then even the investors jobs are at risk.

From a unbiased point of view, bitcoin are risky, but there are far more risky things out there.

Search and you will find. You can find plenty of "Experts" that "hate" phsysical metals, silver and gold. Or others that "hate" stocks.
Really it just is normaly a mix of opinion and self interest.

murraypaul
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September 23, 2013, 03:47:14 PM
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Of the opinions in that list, I think only two (8 and 13) could be counted as 'hating' Bitcoin.

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vgold
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September 23, 2013, 04:16:35 PM
 #4

Hi,
the same as that was when on-line trading comes out, most of the tied fashion guys was smiling,
today most of the brokerage business is done by wire and thanks to online trading the new child named
"Forex" moves double more money than the all others old school "instruments" as can be silver, gold, oil, etc.
all together each day.


They simply know how to do business without bitcoins so they prefer to remain at actual status.


Even if they are strong now owning the most of the worlds money they will fail in the future because
the market first of all is made of people and not only of goods and money.

Market is dynamic stuff and as any thing in universe is evolving and the crypto currencies are a
new level of evolution for the market.

Today's market is based on old style trading with some pseudo new patches but all those patches
and the system it self is too dated and not adequate for dealing in actual time period that for
example you can buy stuff from a guy in Canada over Internet and get the bought stuff in a
couple of days even hours to the other part of the planet.

Homo sapiens as animal choose always the easyest and more profitability way even in dealing on market
and the crypto currency system is a response to the real needs of the society of homo sapiens "animals".

If BitCoins and other crypto currencies are a joke in from of theirs eyes NOW, crypto currencies will be
the end of theirs business later.

More they heat crypto currencies less flexible they will be to change, learn, adapt and continue to do
business on crypto market.

Crypto currency is not a game, a hobby or a cool thing to do, actually crypto currency is at it's second
life round, expanding and flourishing.

As we could see the first round of crypto currency introduction was successful I can only immagine
and guess that the second round will be even more successful than the first one.

Today crypto currency is as was Far West in 1700s, just full of Indians, forrests, mountains, no roads
and EXTREMELY dangerous and hostile place to move, live and invest in, but today you have highways,
you have mega cities and tenth of millions of people living there without any danger.

Welcome to the 17th century of new finance LOL Smiley.


P.S.
Sorry for my bad english Sad
MAbtc
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September 23, 2013, 05:30:32 PM
 #5

Maybe because it trades like a risky penny stock. Maybe because they missed the boat.  Tongue
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September 23, 2013, 05:47:26 PM
 #6

As we could see the first round of crypto currency introduction was successful I can only immagine
and guess that the second round will be even more successful than the first one.

Today crypto currency is as was Far West in 1700s, just full of Indians, forrests, mountains, no roads
and EXTREMELY dangerous and hostile place to move, live and invest in, but today you have highways,
you have mega cities and tenth of millions of people living there without any danger.

Welcome to the 17th century of new finance LOL Smiley.

I kind of agree and like your analogy, although the wild West wasn't as bad as people make out. By the 1800s (and only fairly recently through an Internet meme, you know you can always trust those! did I find this out) the murder rate in the US was similar to that of Britain (then it diverged upward after circa 1900, whereas in the UK it fell to about 0,6/100k in 1955 before slowly climbing back up).

And life is never completely free from danger, whether it be from criminality, unfortunate accident, illness or whatever. The only certainty is death (if you're sneaky/brave/foolish you can evade taxes Grin ).

I think most of the profitability (+EV) of bitcoin investment arises because the perceived risk, of which the RoI is a representation, is far greater than the real risk, much as the latter is wholly extant.

Quote
P.S.
Sorry for my bad english Sad


If English isn't your first language, your English isn't bad. It's good. I can handle German, French, Swedish, Dutch and Luxembourgish and maybe even Welsh to varying degrees, but I don't think I'm as good at any of those as your English is (maybe I'm not too bad at German Grin ).

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