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Author Topic: [2018-05-07] Bill Gates Would Love To Short Bitcoin, so Why Doesn’t He?  (Read 98 times)
BitcoinArsenal
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May 07, 2018, 08:31:13 PM
 #1

Billionaire Bill Gates is a notorious bitcoin skeptic who says he would bet against it if he could because he believes cryptocurrencies are worthless investments that people profit from by pawning their holdings off to a “greater fool” than themselves.
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May 07, 2018, 11:58:41 PM
 #2

'I would short it if there was an easy way to do it.'

Shorting Bitcoin is a piece of cake through CBOE and CME, which I am sure he is already aware of. He's just acting like he would do this or that if the possibility was there just to throw with his opinion.

Aside from the fact that he doesn't need to short Bitcoin due to his insane wealth, it makes no sense to talk like that when something doesn't tickle your interests. It's nothing more than trash talk in my opinion.

Just like Charlie Munger, who's currently 94 years of age. He stated that trading Bitcoin is as bad as trading harvested baby brains. I get it that they don't like Bitcoin, but this goes beyond everything.

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May 08, 2018, 01:20:49 AM
 #3

I listened to the news and was surprised the all time richest man was a critic of this innovative idea of bitcoin. Perhaps, he sees Bitcoin to be a great threat and competitor should they allow it to surge through the market.

He claims
Quote
As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment.

Business is not all about coming out with products, sometimes it renders a service which is necessary to man. Looking at Bitcoin, it offers services which surpasses the old traditional banking system and Bill Gate attested to this fact himself. I think he just contradicted himself by his first statement.

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May 08, 2018, 02:02:56 AM
 #4

'I would short it if there was an easy way to do it.'

Shorting Bitcoin is a piece of cake through CBOE and CME, which I am sure he is already aware of. He's just acting like he would do this or that if the possibility was there just to throw with his opinion. Aside from the fact that he doesn't need to short Bitcoin due to his insane wealth, it makes no sense to talk like that when something doesn't tickle your interests. It's nothing more than trash talk in my opinion. Just like Charlie Munger, who's currently 94 years of age. He stated that trading Bitcoin is as bad as trading harvested baby brains. I get it that they don't like Bitcoin, but this goes beyond everything.

One thing is for sure...many of the vocal critics of Bitcoin and cryptocurrency are already advancing in age. I am not prejudicing against senior people because aging is part of life and everybody will get old unless we die young but then we know that old people have already found their comfort zone and that many of them can be uncomfortable with something they don't fully grasp. Maybe cryptocurrency is not for these personalities and we have to leave it at that because most progress had been resented and challenged at first before they gain prominence in the market. I have a lot of respects for these well-known personalities though I don't share their own views as far as Bitcoin is concerned. The only thing I hate is that they are repeating the same kind of message all over and over again as if a broken record.

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Qartersa
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May 08, 2018, 03:28:52 AM
 #5

This is truly expected of the old rich and the wealthy considering the fact that they earned their gold in the traditional way. There is nothing wrong with that. In truth, it is ideal and conservative even up to now. I think they are just scared of what the future will bring should cryptocurrencies really be the major payment system, replacing fiat, because as of writing, they do not want to invest in it by sacrificing so much of their traditional fiat currency to that of Bitcoin which is by the way has not attained a legal stand pertaining to such class notwithstanding the surge of value since its onset.
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May 08, 2018, 06:13:18 PM
 #6

I listened to the news and was surprised the all time richest man was a critic of this innovative idea of bitcoin. Perhaps, he sees Bitcoin to be a great threat and competitor should they allow it to surge through the market.

Competitor to what? Is Bill Gates involved with gold or WU or banks?
He is still one of the richest men in the world, God I have a déjà vu with the WBuffet thread, why should he be afraid of BTC ?
Do you think that to a man that gives away billions in donations losing a few extra matters?

This is truly expected of the old rich and the wealthy considering the fact that they earned their gold in the traditional way. There is nothing wrong with that. In truth, it is ideal and conservative even up to now. I think they are just scared of what the future will bring should cryptocurrencies really be the major payment system, replacing fiat, because as of writing, they do not want to invest in it by sacrificing so much of their traditional fiat currency to that of Bitcoin which is by the way has not attained a legal stand pertaining to such class notwithstanding the surge of value since its onset.

Sorry but what was "traditional" in the way Bill Gates earned his money?

He is not willing to invest in anything, just as I was saying above, he is rich beyond F, what more could he want? The man is expressing his opinion and that's just how he sees things.
Nowadays everybody who criticizes bitcoin has some second motive or is scared of bitcoin, just accept the fact that others have different views on things as you've said at the start of your post.  Grin

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May 08, 2018, 07:36:09 PM
 #7

I can t wrap my mind around that such a great entrepreneur as Bill Gates is talking trash about such huge innovation of our time - blockchain.
Also, he is not making sense , his argumentation is poor. Maybe he is just old fart who does not want to believe in change. Or his old FART friends want him to talk shit because they already have short positions.

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May 08, 2018, 07:39:15 PM
 #8

In my recent incursions into the world of cryptocurrencies, I came across an obvious need with this initiative which until now and due to the hype that has just begun to emerge based on its upcoming release to the market, it lets me understand that the potential has not yet It has been fully exploited, I am very likely to have come across these advertisements, join here, but it is difficult to keep a record of the use of both the users and the service providers themselves, I mean in innovation and in the inclusion of these systems so that you can reach the largest number of users and retain them at times where the competition is wild, that is why I think that Brickblock offers a fresh and renewed alternative I hope to be able to keep the use of the portal in the next months and years who knows if in some way or another a new economic hegemony is reached by cryptocurrencies and make these initiatives It's our true tool of evolution
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May 09, 2018, 07:36:49 PM
 #9

Just like Charlie Munger, who's currently 94 years of age. He stated that trading Bitcoin is as bad as trading harvested baby brains. I get it that they don't like Bitcoin, but this goes beyond everything.

That was honestly hilarious. It's so obvious that these silly figures don't want to be seen as Bitcoin enthusiasts, that they lower themselves to such low levels. It's almost like they are doing this to stir up Bitcoiners, and it seems to be working pretty well. Warren Buffett said that if someone talks shit about something you see value in, why would you get upset about it? It's true, and it definitely points at them trolling Bitcoiners on purpose. Everywhere you see people stand up against them, which I can understand to a certain extent, but it also shows their insecurity and uncomfortable position. If we also keep in mind that most people actually invest for the sole purpose of selling coins at a higher price, Warren Buffett and Charlie Munger do have a point they can exploit....
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May 10, 2018, 10:31:29 AM
 #10

Probably they are trying to take control of Bitcoin.
Yes, i know it´s impossible... until the day they own it all...

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May 10, 2018, 06:27:10 PM
 #11

Probably they are trying to take control of Bitcoin.
Yes, i know it´s impossible... until the day they own it all...


I think Gates simply got irritated with the responses to his earlier opinion. He used to be ok with it but earlier this year said that BTC is bad because it enables criminals with new ways to trade drugs and such. People criticized him for this opinion and I'm sure he read those comments and got even more salty that the world not only doesn't react or support him, but laughs. He's becoming a grumpy old man.

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May 10, 2018, 06:30:54 PM
 #12

With the current mechanisms, bitmex etc, and knowing that Bill Gates probably has an infinite credit, how much could he profit by betting against Bitcoin and predicting a value below a thousand dollars?

Is it possible to calculate something like this?
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May 10, 2018, 06:38:44 PM
 #13

Probably they are trying to take control of Bitcoin.
Yes, i know it´s impossible... until the day they own it all...


I think Gates simply got irritated with the responses to his earlier opinion. He used to be ok with it but earlier this year said that BTC is bad because it enables criminals with new ways to trade drugs and such. People criticized him for this opinion and I'm sure he read those comments and got even more salty that the world not only doesn't react or support him, but laughs. He's becoming a grumpy old man.
What we should expect from an old man?

Mood swings,non-clear opinions which would change anytime depending on what would they read up and i wasnt really expecting this. Remember on days where he do praise or do give positive views/words with bitcoin and now early this year we do able to hear out negativity which the entire community would really oppose since we do really have hope on what bitcoin can really contribute of in near future


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May 11, 2018, 04:26:28 PM
 #14

With the current mechanisms, bitmex etc, and knowing that Bill Gates probably has an infinite credit, how much could he profit by betting against Bitcoin and predicting a value below a thousand dollars?

Is it possible to calculate something like this?

Why would a guy that has a net worth of 89 $ Billions involve himself in the crypto trading and furthermore attract attention by going in public and trying to influence traders?
Unlike pump and dump schemers which prowl in shady exchanges and play 10-20 BTC at most, this guy will be under scrutiny from any government institution in a matter of days.

Anyhow, if he were to start profiting from coins, he would do the opposite.
Imagine an Billion wall buy at 10 000$/BTC. That's a 100 000 BTC buy.
He could with a tiny fraction of his wealth triple or quadruple the price.

Bottom line, he's not interested anymore in money. Would you be if you were in his shoes?



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May 11, 2018, 05:12:56 PM
 #15

Probably they are trying to take control of Bitcoin.
Yes, i know it´s impossible... until the day they own it all...


I think Gates simply got irritated with the responses to his earlier opinion. He used to be ok with it but earlier this year said that BTC is bad because it enables criminals with new ways to trade drugs and such. People criticized him for this opinion and I'm sure he read those comments and got even more salty that the world not only doesn't react or support him, but laughs. He's becoming a grumpy old man.

If they do not find any value or the use their business can make it they would say such things. But yes btc could help Microsoft or blockchain technology as well like many other business are making use of it. But may be Microsoft would like to create a new thing or something of its own so would like to disrupt the btc first before they come up.


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May 13, 2018, 04:19:36 AM
 #16

I would think Bill Gates, as much as he is supposed to for alleviating world poverty, would support Bitcoin as the means of alternative finance in Africa and Asia. It has great potential in such places where the financial infrastructure is underdeveloped or untrustworthy.

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May 14, 2018, 08:24:02 AM
 #17

Would love to short bitcoin? It just implies that he is still open and still having the consideration of having a bitcoin. I think he is just playing safe but then will eventually decide to jump aboard because right now he just still don't see it going anywhere.

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May 14, 2018, 10:26:36 AM
 #18

He already is rich, why would he invest in cryptocurrency? I mean, he can do so easily. But I think he is afraid of failing. Although he is wealthy, he cannot know if that coin has a future or not. It is just a matter of belief just like what he said in his statement. He believes that investing in the cryptocurrency is worthless. Let him be. When people stop using Microsoft, he will find another way to invest his money on.

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