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Author Topic: 2013-11-26:Seeking Alpha:Wall Street Doesn't Understand Bitcoin Yet, But It Will  (Read 1132 times)
muyuu
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November 27, 2013, 05:08:45 PM
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Emailed to: 334,353 people who get Macro View daily.

http://seekingalpha.com/article/1863521-wall-street-doesnt-understand-bitcoin-yet-but-it-will


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November 27, 2013, 05:16:14 PM
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Nice.  I broke my personal rule and actually registered to get past the register wall.  The author may be a little to Bitcoin centric.  Personally I don't know if Bitcoin will succeed long term (decades) but I do know the concept of cryptocurrency is here to stay.  Bitcoin has proven it can work.  Maybe Bitcoin remains the ebay of future currencies or maybe it becomes the myspace but the days where cartels of banks create a system that forces the masses to use it has been broken.  It may take a lifetime but like electricity, the personal computer, or the internet it can't be undone.

Every "financial type" (brokers, money managers, banker) should at least look at Bitcoin objectively if for nothing else than to see an alternative.  Look at it with open eyes considering "we may use this or something like it someday". 
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November 27, 2013, 07:04:51 PM
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nice piece. thanks!

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November 27, 2013, 08:52:00 PM
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One of the best written and most comprehensive btc articles I have seen.
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November 28, 2013, 01:39:16 PM
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He was in reddit/r/bitcoin a week ago or so (or I guess it was him) asking for information.

http://www.reddit.com/r/Bitcoin/comments/1r31yv/dear_bitcoiners_i_am_contributor_for_seeking/

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November 29, 2013, 05:30:20 AM
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i just told my uncle about bitcoin today. told him a few things about it, and instead of asking more, he wrote it off as a scam. he compared it to a forex ponzi scheme that my uncle-in-law fell for. he's got quite a bit of his money in stock, yet the whole idea of a decentralized seemed so foreign to him that he just wrote it off without asking more  Cheesy
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November 29, 2013, 10:15:15 AM
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i just told my uncle about bitcoin today. told him a few things about it, and instead of asking more, he wrote it off as a scam. he compared it to a forex ponzi scheme that my uncle-in-law fell for. he's got quite a bit of his money in stock, yet the whole idea of a decentralized seemed so foreign to him that he just wrote it off without asking more  Cheesy

You're probably not a credible source of information for him. First of all, your uncle is older than you and when people are older they generally tend not to take advice from younger people, because they already have their own view of how the world works, and may feel ashamed of themselves if they think they don't know something that youngsters do, so they are pretty rigid in their beliefs. Sometimes it'd literally take a total crash of their beliefs for them to become more flexible and even then it's hard to do.

Second, 'no prophet in his own land' applies here, meaning that family members are unlikely to trust their own kin in such matters.

I am sure, that if your uncle heard about it from some credible source, like a newspaper he trusts, or his old buddy, he'd at least take another look at bitcoin and give it a try to understand what it is and if it's worth investing in.
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November 29, 2013, 12:39:29 PM
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Beetcoin, This is a good idea - perhaps send him the recent article from the Wall Street Journal about bitcoin. Or one of the other ones. The WSJ one might be from a news source your Uncle knows.

i just told my uncle about bitcoin today. told him a few things about it, and instead of asking more, he wrote it off as a scam. he compared it to a forex ponzi scheme that my uncle-in-law fell for. he's got quite a bit of his money in stock, yet the whole idea of a decentralized seemed so foreign to him that he just wrote it off without asking more  Cheesy

You're probably not a credible source of information for him. First of all, your uncle is older than you and when people are older they generally tend not to take advice from younger people, because they already have their own view of how the world works, and may feel ashamed of themselves if they think they don't know something that youngsters do, so they are pretty rigid in their beliefs. Sometimes it'd literally take a total crash of their beliefs for them to become more flexible and even then it's hard to do.

Second, 'no prophet in his own land' applies here, meaning that family members are unlikely to trust their own kin in such matters.

I am sure, that if your uncle heard about it from some credible source, like a newspaper he trusts, or his old buddy, he'd at least take another look at bitcoin and give it a try to understand what it is and if it's worth investing in.
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