Why do many mainstream economists always oppose Bitcoin?

[randegibran]

what these.economists do, of course, has.an instant. basis, for example, a change that occurs.in an.instant that makes.everyone astonished.but they only see the results and do not see when we experience a loss and then they make a statement that is.hateful.towards the crypto currency

[1715387494]

1715387494

[accounting 181293]

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economists only understand the old economic theory they get from their lectures...

while Bitcoin is a new thing that they can't understand with their theory that's why they always associate Bitcoin with tulipmania. if they care about people then they will definitely say Bitcoin is the right choice for investing and also transacting large amounts.

not only that. they also think bitcoin is too risky an investment, because it looks like a big bubble. nor can we assume that their choice is wrong. because in fact it is. but what I regret is that they only see that extent. economists don't see the full potential of blockchain. they just see bitcoin as a threat. but turn a blind eye to the underlying technology.

[maxreish]

They cant see the bitcoin's worth yet. All they believe is that, bitcoin is a threat towards government and can not be a help in economy. On the other side, bitcoin can still see as a good reason to contribute to the economic rise. As some point, it can also be a help to boost those contries that are at developing stage.

[sapnu]

It is simply because of the danger it imposes to a certain economy considering how much financial freedom it gives to people. They tend to choose to go against bitcoin because they are too afraid to accept the fact that at some point, it can save a country's economy and make it improve after just a short period of time. Nevertheless, it doesn't remove the fact that bitcoin is a risk that a country should never take right away, it needs to be thought through before committing completely. Soon they will see how useful bitcoin can be and start agreeing with it regulation in improving the economy.

[zanezane]

Because they think that their knowledge is absolute and that they don't consider new technology in finances such as bitcoin as a thing. Plus they really have this subconscious feeling that they are saving people from potential scam just because they don't exactly understand how bitcoin works. Ignorance isn't a bliss sometimes because you have to be open to new knowledge and information, it's how learning should be, continuous.

[Darker45]

Economics has always been a game of trial and error. Many brilliant economists have walked on this earth for the past centuries. They debate, discuss, disagree with each other. Some theories prevail over others. New theories replace another. An emerging one debunks an old standard. And so on. But look where we are now.

The point is that some economists are not supporting Bitcoin not because they are somehow committed to the government but because they simply have different views. And considering that Bitcoin is generally alien and is also more than just economics, many economists must have been confused with it, the technology behind it, how it works, and so on.

It is simply coming from a strange paradigm which mustn't have been thoroughly explored by majority of the economists. Who would've theorized on a monetary system which is beyond the power of the state and its sanctioned entities? No mainstream economist would have imagined of a certain country's economy to be built on a currency which is beyond the control of those who are tasked to create the nation's economic blueprint for the next years or decades.

[evilgreed]

               Whichever the case, the main point about this is that all of the people in this world do almost everything they do every day because they can expect to gain something out of those things they do. Now some may be different and do something that would benefit others more than it would benefit themselves but there is a huge chance that these things they do are just for show to boost their image. But regardless, we cannot judge anyone just because of a few things that we see them do. People have reasons for their actions that are influenced by their needs, culture, environment and so on. So unless we know everything, we should just keep our opinions about other people to ourselves. The same goes in this industry. We buy then sell, some shill, while others talk trash about other coins. That's just how things are. And thus, no matter how bad some of these may taste on our throats, it is undeniable that all these are vital ingredients that make this industry whole, continue to strive and give benefits to anyone who knows how to take advantage of most situations.

[Vaskiy]

Very few oppose this. I personally have a thought, these people are already in the elite category. They doesn't want the middle class and the lower class people to improve their lifestyle and turn themselves rich. The middle class people are the one who work hard and make use of the opportunity than the rich. This way they'll give the best to learn and earn through cryptocurrency. There is risk, but realising the same when people are ready to invest these economists make some panicking statement.

[ropyu1978]

Very few oppose this. I personally have a thought, these people are already in the elite category. They doesn't want the middle class and the lower class people to improve their lifestyle and turn themselves rich. The middle class people are the one who work hard and make use of the opportunity than the rich. This way they'll give the best to learn and earn through cryptocurrency. There is risk, but realising the same when people are ready to invest these economists make some panicking statement.

your review is very reasonable and very solid, most of those who hate bitcoin are average rich people, government and millionaires, their reasons to scare weak hands, don't know bitcoin, and say bitcoin is a scam, and not clear, mostly the nature of the rich, do not want others to equal his wealth.

[Gozie51]

With the increasing influence of Bitcoin in the world, more and more people are supporting and approving Bitcoin. Few mainstream media can directly say that Bitcoin is a scam. However, there are still many opinions saying that Bitcoin is a bubble, and this bubble will eventually burst. Many mainstream economists hold this view. They always oppose Bitcoin for different reasons.

You have mentioned the real reason that they oppose bitcoin and that is because they feel it is not felt physically, seen to interact with economic indicators etc but I think the solution to this illusion is to involve Blockchain and cryptocurrency in the academic curriculum for students to start formal study in schools. This will help to diffuse the notion of bubble . The bubble story has been on since the beginning which is a huge critism from the economist.

[haidil]

actually not all economists think the same and only a few are old-fashioned like this,
this is very reasonable because there are several reasons that I can conclude here
the first is how does one get an economist degree? none other than the answer is from the government itself so that indirectly the economists say like directives from the government and directly aware of it or not this refers to a mindset which if bitcoin continues to soar it will become a chaos in the economy.
the second is that these economists only know about theory and rarely practice directly so that they think the theory they learn is generally correct even with the old theory so they don't want to take risks by making new steps and changing from their comfort zone. they can now.
this is just a mindset that is applied how we accept it or not
apart from that I prefer to be here now whether it can be destructive or not according to them because as far as I walk in crypto I don't know about what they are talking about whether it's a scam or a bubble that is like a bomb just waiting for time to end

[vv181]

With the increasing influence of Bitcoin in the world, more and more people are supporting and approving Bitcoin. Few mainstream media can directly say that Bitcoin is a scam. However, there are still many opinions saying that Bitcoin is a bubble, and this bubble will eventually burst. Many mainstream economists hold this view. They always oppose Bitcoin for different reasons.

You have mentioned the real reason that they oppose bitcoin and that is because they feel it is not felt physically, seen to interact with economic indicators etc but I think the solution to this illusion is to involve Blockchain and cryptocurrency in the academic curriculum for students to start formal study in schools. This will help to diffuse the notion of bubble . The bubble story has been on since the beginning which is a huge critism from the economist.

Not being able to physically feel Bitcoin's existence is a good point if you look from a different perspective. It able to make other didn't know what is your possession in term of money. I rather think it is wholly based on the personal interest about why they look at Bitcoin that way. But I didn't believe they reach that level of ignorance if they based their decision because of it, people just stay behind their own motive, rather embracing the adoption of Bitcoin.

[pealr12]

Probably they have little knowledge about btc or not yet sure what to make of the space yet,  from the look of things those who oppose are dropping in number compare to before, this days there are more economist not against crypto than before,  just as we have many institutions now supporting btc more than what it use to be, now the narratives has changed quite a lot,  btc is no longer seen as bad rather on the contrary.

[clint25n]

maybe they feel very surprised by the very rapid development of bitcoin which is so much in demand by its players as is happening at this time, so they build a very negative opinion on the crypto world. satisfied with the current drop in the price of bitcoin, so many people will leave the crypto world to return to the business they control

[rodskee]

Very few oppose this. I personally have a thought, these people are already in the elite category. They doesn't want the middle class and the lower class people to improve their lifestyle and turn themselves rich. The middle class people are the one who work hard and make use of the opportunity than the rich. This way they'll give the best to learn and earn through cryptocurrency. There is risk, but realising the same when people are ready to invest these economists make some panicking statement.

yes , it is exaggerate to say that "MANY" when there are no actual proof of this claims , there might be some who oppose but majority of them are just riding the situation meaning they have no actual stand but what they do is putting their side on what is popular and what can make them profiting,
by all means this are just a Stupidity idea of other streamers and economists .

[swiftbits]

Bitcoin is trying to break the system, the system they utilized to increase the size of their empire. It matters to them cause it might cause a drastic effect, and the outcome doesn't reflect on their view. Blockchain technology has more to prove; if it reached the status of being a household name, we could get more acceptance.

[Tim-BTC]

In my opinion, economists are good at summarizing past events, not the future. Bitcoin is an important economic phenomenon in the future. They don't want to think about the future. When Bitcoin has been widely recognized, economists will say yes.

[semobo]

Economists are old people who never actually knows what is bitcoin so they assume that bitcoin can be created by anyone for that they are mentioning about mining but mining is different and no one is earning bitcoin for free. Other set of people know the decentralization will make the fiat money useless so they are strongly opposing that it is a private currency meanwhile they spent their whole life to earn paper which we are using as money.

[CryptopreneurBrainboss]

Bitcoin stands on the side of the people, allowing the people to obtain their own asset freedom, and naturally stands on the opposite side of some economists.

The reason is simply in the ending statement of yours. Humanity is after power, everyone wants to control one another most especial the government and elite among us. Now if you're to take away that opportunity to control, don't you think those previously benefiting will give it a fight and not just let go willing, that's exactly what the government through the economist are doing.

Mainstream economist just don't want to let go of all they were taught and learnt in college/university about the financial system. They were made to believe money is what the Fiat system is operating without realizing their a better alternative in decentralized finance.

While some economist do this on purpose so as to decieve the general public while loading up their bags, others are ignorant of this information but with time, they'll all come to realize the true potential of the industry but hope by then, it won't be late.

[RainbowKun]

Bitcoin stands on the side of the people, allowing the people to obtain their own asset freedom, and naturally stands on the opposite side of some economists.

The reason is simply in the ending statement of yours. Humanity is after power, everyone wants to control one another most especial the government and elite among us. Now if you're to take away that opportunity to control, don't you think those previously benefiting will give it a fight and not just let go willing, that's exactly what the government through the economist are doing.

Mainstream economist just don't want to let go of all they were taught and learnt in college/university about the financial system. They were made to believe money is what the Fiat system is operating without realizing their a better alternative in decentralized finance.

While some economist do this on purpose so as to decieve the general public while loading up their bags, others are ignorant of this information but with time, they'll all come to realize the true potential of the industry but hope by then, it won't be late.

No one can stop the trend of historical development and civilization evolution. At the moment Satoshi Nakamoto created Bitcoin, there was no artificial force to stop the development of Bitcoin. The history of the past 12 years presents this perfectly. Many economists are now defending the old economic and financial system and are launching a war against Bitcoin. However, when some people find that no one can stop Bitcoin in the end, they will also turn around and start supporting Bitcoin. This is the inevitability of historical development.