Why some millionaires hate Bitcoin?

[Shasha80]

Sometimes some millionaires tweeted they don't like Bitcoin but after next update they already invested in Bitcoin and gained a lots of profits because they bought indeep and sold in hyped.

We saw the cover they really hate bitcoin for trying to lower its price and backstage maybe buy it at a lower price. Who is millionaire no.1 in the world, Elon Musk is also involved in crypto investing.

yeah right, they are doing things like this for the sake of generating false information while they are working behind the scene and taking all the opportunities to buy loads of cheap Bitcoin.

Elon Musk got his companies, they love sucking those money out from those poor and average types of beginners, those people who are affected of certained news about known personalities who are against to this market.

They've been played perfectly by those so called haters.

Humans can do anything to satisfy their greed, that's what Elon Musk is doing right now. He spread FUD to create panic, so that many investors
are influenced and sell Bitcoin at a low price. But those who are affected by Elon Musk are only beginners who don't really understand the crypto
world, therefore Bitcoin is currently still stuck above the $30k price. Because there are still many smart investors with whatever Elon Musk did
and made the Bitcoin price fall, but still holding the Bitcoin it owns. My advice we all don't be easily influenced by other people, continue to believe
in the results of our research and analysis. So there will be no wrong in making decisions.

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[XUNing]

Millionaires are all stakeholders in the traditional economic and financial system. Bitcoin is a new economic trend based on blockchain technology, and there is a conflict of interest between them.
As winners of the traditional financial system, in order to safeguard their own interests, they must vigorously support the current financial system supported by the national government. Bitcoin is decentralized, it owns personal assets and is not controlled by the government. Investing in Bitcoin is not conducive to safeguarding their interests, so they will hate Bitcoin.

[Sithara007]

Well, that's one of many reasons, Most of the millionaires spend their whole life to keep on making the same or more amount of money so that they don't have to bring low-status lifestyle. This is what I've seen with most of them.

Some are millionaires for their hard work and they reached that height doing a single work and bringing change to that work will lead to re-learn or master another skill to remain at the same height which is not desirable for each and every one of them.

A distinction should be made between billionaires from the internet/technology sector and those from other sectors. It is true that losers like Warren Buffet and Bill Gates spent many decades to get to a level where they are right now. But that is not the case with others like Mark Zuckerberg, Elon Musk, Sergey Brin, Jan Koum and many other "instant" billionaires. They became super-rich, at a relatively young age. So their attitude towards cryptocurrency will be markedly different from those by people like Buffet and Gates. 

[Abiky]

anyone in this world likes to see their money multiplying, even though most millionaires are still afraid to invest in bitcoin, they will sooner or later invest in bitcoin because they want to see their money increase a lot. Until a few years ago there were many millionaires who spoke badly of bitcoin, but today we are seeing a completely different scenario where some millionaires and billionaires already buy bitcoin and speak transparently on the internet that they bought bitcoin

There are some millionaires who secretly invest into Bitcoin for profit. They just don't want to disclose it publicly in order to avoid problems with banks. After all, millionaires store most of their wealth in Fiat through a bank of their choice. I'm sure the number of millionaires will increase over time as Bitcoin becomes more popular. The new generation will embrace crypto/Blockchain tech, while the old generation will be left behind in the dust. Figures like Warren Buffet and Donald Trump are part of the old generation. It doesn't matter what a person says against Bitcoin, as long as it stays decentralized. With how Bitcoin has progressed since its inception, I'd say that it'll be here to stay for a very long time. Just my thoughts

[Bigmikie]

Well, I believe the only reason why Billionaires and Millionaire would hate Bitcoin is a lack of foresight or inadequate know about how it works, take for instance Elon musk bought Bitcoin few months ago, what do you think his motive was of course to increase his income and it only came through for him because he has the foresight to predict his capability as well as the effect of him buying
So people saying that it is a scam or whatever, I think its due to inadequate knowledge about . There is no two ways about it.

[19Nov16]

Well, I believe the only reason why Billionaires and Millionaire would hate Bitcoin is a lack of foresight or inadequate know about how it works, take for instance Elon musk bought Bitcoin few months ago, what do you think his motive was of course to increase his income and it only came through for him because he has the foresight to predict his capability as well as the effect of him buying
So people saying that it is a scam or whatever, I think its due to inadequate knowledge about . There is no two ways about it.

True, most who hate bitcoin including millionaires because they do not know the right information about bitcoin. Moreover most of them always hear bitcoin is illegal and used for crime transactions such as money laundering, tax avoidance, terrorist transactions and so on.

[oHnK]

There are some millionaires who secretly invest into Bitcoin for profit. They just don't want to disclose it publicly in order to avoid problems with banks. After all, millionaires store most of their wealth in Fiat through a bank of their choice. I'm sure the number of millionaires will increase over time as Bitcoin becomes more popular. The new generation will embrace crypto/Blockchain tech, while the old generation will be left behind in the dust. Figures like Warren Buffet and Donald Trump are part of the old generation. It doesn't matter what a person says against Bitcoin, as long as it stays decentralized. With how Bitcoin has progressed since its inception, I'd say that it'll be here to stay for a very long time. Just my thoughts

Yup, the proof of this statement can be seen in the whales alert. Everyday and every minutes we can see the transaction. Thousand of BTC is transfered  from one address to another address. They move silently to avoid bubble price in market. Millioners are some people who really aware how the development of investment. BTC is one unique asset which really need to be have.

[Btcvilla]

so many people hate bitcoin like what was done by donald trump some time ago he said bitcoin could threaten the value of the USD which will affect the currency of the United States of America, so they prefer to ban the circulation of bitcoin in their country, maybe this will continues indefinitely

[Xinarae*]

In some countries there is no law on bitcoin while in many countries bitcoin transactions are legal but economists and other stakeholders around the world have warned that investing in cryptocurrencies is risky as their prices rise and fall sharply. Many millennials do not understand the exact signals of the market for these rapid price rises and losses for which they are at a loss and hate bitcoin many countries hate bitcoin but cannot ban its use.

[milani]

Some wealthy people have expressed their disdain towards Bitcoin. They believe Bitcoin is a scam or Ponzi scheme backed by nothing. Figures like Warren Buffet, and even Donald Trump himself believe Bitcoin is a sham. I'm surprised to see this, since Bitcoin brings many profit opportunities to its "hodlers". For some reason, millionaires (or billionaires) hate Bitcoin. They usually support Gold and Fiat, not wanting to try something new like crypto/Blockchain tech. Justin Sun tried to convince Warren Buffet to get into crypto a while ago, only to find that his efforts were in vain.

Thoughts?

In my opinion very often rich people do not tell the truth about their assets - the amount or type of them, and make different statements just on their own favour, manipulating by lots people minds. While at the same time having Bitcoins or other assets on their accounts. May be those who support dollar are just cunning or really got a lot income on gold or dollars or whatever.

[dortheamangum]

How people portray cryptocurrencies like bitcoins depends upon their own level of understanding. Some think they will replace the fiat currency very soon while others think they won’t even last in the next few decades. It all depends on the person and his understanding.

[Hendra gunawan]

How people portray cryptocurrencies like bitcoins depends upon their own level of understanding. Some think they will replace the fiat currency very soon while others think they won’t even last in the next few decades. It all depends on the person and his understanding.

totally agree, this is a natural thing where everyone has a different mindset and opinion.  But we don't need to focus on people who don't like bitcoin because it's hard to change people's mindset.  the important thing is that we love bitcoin, then know the advantages and benefits of bitcoin.

[Rigon]

How people portray cryptocurrencies like bitcoins depends upon their own level of understanding. Some think they will replace the fiat currency very soon while others think they won’t even last in the next few decades. It all depends on the person and his understanding.

Actually your opinion correct but some people personally hate Bitcoin because they think bitcoin will replace Fiat and Bitcoin mining would damage economic systems in their country.

[ivankoh]

I think millionaires hate bitcoin because bitcoin can create millionaires, billionaires like them quickly.  Haha, but I think the big problem is the perception and idea, a lot of billionaires get rich from real estate, it's simple to own physically with paper, easy to maintain...  with bitcoin being a problem, security, governance,... etc, and I think they see that as a risk.

[Kimonoe]

I think millionaires hate bitcoin because bitcoin can create millionaires, billionaires like them quickly.  Haha, but I think the big problem is the perception and idea, a lot of billionaires get rich from real estate, it's simple to own physically with paper, easy to maintain...  with bitcoin being a problem, security, governance,... etc, and I think they see that as a risk.

right, they still think bitcoin is very risky. In the absence of legality from the government, bitcoin is considered not to have a real function as a currency. and finally they prefer a real business and have little risk as long as their wealth is safe, therefore property is an option as a safe asset for them. but i think nowadays there will be a lot of rich people who start studying bitcoin opportunities for the future

[ninkdwi]

mostly they don't know about the technology or they still dont believe with unreal money i mean money that they can touch

millionaires will invest on stock or gold or other safe haven investment

yes, especially to maybe I can say waren buffet and Donald Trump, basically Donald Trump himself has said clearly that Bitcoin can threaten the electability of $. Therefore, he really hates Bitcoin and warren buffet, don't listen too much to what he has to say. said because basically he doesn't understand technology so he doesn't know what Bitcoin is like and maybe I think he just heard it from other people because we all know that basically it is a technology stutter

[dansus021]

yes, especially to maybe I can say waren buffet and Donald Trump, basically Donald Trump himself has said clearly that Bitcoin can threaten the electability of $. Therefore, he really hates Bitcoin and warren buffet, don't listen too much to what he has to say. said because basically he doesn't understand technology so he doesn't know what Bitcoin is like and maybe I think he just heard it from other people because we all know that basically it is a technology stutter

Yes indeed in my opinion most government who banning bitcoin because it can hurt their own system the fiat and as you can see bitcoin transaction is transparent and decentralized that government can control

[Lubang Bawah]

People from government, as Donald Trump, hate Bitcoin because it can limit their monetary police influence.

Rich people don't like Bitcoin becuase they don't understand it, and that's why they distrust bitcoin and its exponential growth.

Most people who hate bitcoin for fear of their wealth decreasing, they are comfortable with the current situation so they don't want to try new things, bitcoin is decentralized so they worry if the price drops their wealth will be lost.

[Betwrong]

When you are wealthy, you automatically hate any changes and everything that might cause those changes. Millionaires want to maintain status quo forever, but, unfortunately for them, that's not how things work in this world. The wisest from them are aware of that, of course, and now actively buying BTC at low price.

Well, that's one of many reasons, Most of the millionaires spend their whole life to keep on making the same or more amount of money so that they don't have to bring low-status lifestyle. This is what I've seen with most of them.

Some are millionaires for their hard work and they reached that height doing a single work and bringing change to that work will lead to re-learn or master another skill to remain at the same height which is not desirable for each and every one of them.

Learning something new all the time is the only option for staying afloat these days. It's hard to comprehend because for centuries your life experience and acquired skills by the age, say, 40, was enough for the next couple of generations to be learning from you. Now elderly people like Warren Buffett should certainly be learning from younger folks, or else they are risking to sound like the guy.

[germsite]

People from government, as Donald Trump, hate Bitcoin because it can limit their monetary police influence.

Rich people don't like Bitcoin becuase they don't understand it, and that's why they distrust bitcoin and its exponential growth.

Most people who hate bitcoin for fear of their wealth decreasing, they are comfortable with the current situation so they don't want to try new things, bitcoin is decentralized so they worry if the price drops their wealth will be lost.

That's the only right point. Millionaires don't just have cash lying around, they have a portfolio and most likely without crypto if they complain about it. So if people have to decide where to put their money, they might buy Bitcoin instead of pushing prices of the assets of these millionaires' portfolios.