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Author Topic: Billionaires hate Bitcoin.  (Read 16314 times)
flatiron
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October 06, 2012, 02:23:59 AM
 #41

Tax Evaders like BitCoin

Billionaires like Tax Evasion

Billionaires like BitCoin

I like tax evasion, so I guess that makes me a billionaire too.  Grin.
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Jack1Rip1BurnIt
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October 06, 2012, 03:32:19 AM
 #42

Tax Evaders like BitCoin

Billionaires like Tax Evasion

Billionaires like BitCoin

I like tax evasion, so I guess that makes me a billionaire too.  Grin.


Everybody likes tax evasion. He didn't say ONLY billionaires like it

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October 07, 2012, 01:49:38 AM
 #43

I would have thought billionaires would love BTC - seeing its anonymous and they can deny it in their tax statements Tongue

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October 07, 2012, 08:17:49 AM
 #44

If the bitcoin economy ever reaches billions I'm sure there will be some billionaires participating Wink

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October 07, 2012, 09:55:10 AM
 #45

I would say it depends on how smart and well-informed they are.

The uninformed ones don't care.
The smart and informed ones should like Bitcoin.
The smart, really well-informed and power-hungry ones - I agree - should hate Bitcoin.

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October 07, 2012, 05:39:46 PM
 #46

Are you seriously suggesting that you think billionaires have even heard of BTC?

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November 29, 2012, 04:41:53 AM
 #47

i sent an article to my close minded millionaire brother in law about bitcoin. he only responded with negative comments. "too much theory" "i dont see the value in it". he wasnt happy to talk about it and didnt understand it, at all.

i brought it up to another millionaire (soon to be billionaire) that i know, 2 times. This guy understands how the world financial ponzi works and is very awake. he understands the basics of bitcoin, but i dont think he spent much time thinking about it. In a brief discussion we had, he said "it wont work because the usd is still the reserve currency. So even if other countrys adopt btc it wont matter because everything is priced in usd." he likes gold and silver for the future. also he said when "btc starts to pick up speed the us government will clamp down on it one way or another."

most of these rich fuckers are older guys who dont understand technology like us on this forum. they know best how to sell, ideas, themselves and they know how to manipulate people. bitcoin threatens to undermine their pile of government cash, and even the whole political structure their money on.

we cant let these rich fuckers hold back society and civilization.

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November 29, 2012, 07:00:18 AM
 #48

i sent an article to my close minded millionaire brother in law about bitcoin. he only responded with negative comments. "too much theory" "i dont see the value in it". he wasnt happy to talk about it and didnt understand it, at all.

i brought it up to another millionaire (soon to be billionaire) that i know, 2 times. This guy understands how the world financial ponzi works and is very awake. he understands the basics of bitcoin, but i dont think he spent much time thinking about it. In a brief discussion we had, he said "it wont work because the usd is still the reserve currency. So even if other countrys adopt btc it wont matter because everything is priced in usd." he likes gold and silver for the future. also he said when "btc starts to pick up speed the us government will clamp down on it one way or another."

most of these rich fuckers are older guys who dont understand technology like us on this forum. they know best how to sell, ideas, themselves and they know how to manipulate people. bitcoin threatens to undermine their pile of government cash, and even the whole political structure their money on.

we cant let these rich fuckers hold back society and civilization.

You're right, these same rich fuckers don't necessarily have to know more than one way to strike it rich. For instance, nobody could have told you for sure what was going to happen with Apple. Some took a chance and most didn't. We see what kind of numbers the ones who took a chance experienced, while the others like me and everyone I know have made $0 off of the Apple stock. I'm not missing out on Bitcoin! Just sayin'

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November 29, 2012, 03:48:49 PM
 #49

Some millionaires work hard for their money and will probably understand Bitcoin. Most billionaires got rich on government welfare and don't understand the value of money. Since Bitcoin has no government teet for them to suck on, they won't be interested.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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November 29, 2012, 04:22:36 PM
 #50

If the some day I'll get to be a billionaire I'll invest in Bitcoins.
The thing is, if I do get to be a billionaire, it will be due to Bitcoins. No.
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November 29, 2012, 08:47:20 PM
 #51

Here in Poland we were all billionaries in early 90s - when inflation was insane and prices were going sky high. I'm sure we'd love to have bitcoin in early 90s...

And this is partially my motivation for BTC. I'm not going to stand aside and let this sh**t happen again.

[EDIT]
Interesting table:
http://upload.wikimedia.org/wikipedia/en/8/88/The_Hanke_Krus_Hyperinflation_Table.pdf

what is strucking, that most cases happened in 90s and almost all in XX or XXI century.
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November 30, 2012, 06:04:32 AM
 #52

Why would they want to invest in something that could end their hold on cheap debt and a controllable monetary supply?

It would just be eliminating their power.

If bitcoins could render the fortune of a billionaire worthless, then don't you think they would want bitcoins? You don't become a billionaire by resenting change, rather by embracing it at the right moments.

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November 30, 2012, 09:23:14 AM
 #53

Quote from: Jon
Billionaires hate Bitcoin

Billionaires love Bitcoin


Most Billionaires have never heard of Bitcoin.

That's right. Most billionaires are like...

"Ug, I'm fat, and I like digging coal out of the ground, and calling poor people lazy"

Or

"Ug, I'm gross looking and I own several types of media worldwide"

Couldn't give a fuckizzle about bitcoin.

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May 08, 2013, 12:41:44 AM
 #54

They have spoken to reveal ignorance and fear:

http://video.foxbusiness.com/v/2359385547001/mungerbuffett-disagree-on-corporate-tax-rates/?playlist_id=1034196606001
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May 08, 2013, 01:11:47 AM
 #55

Billionaries are going to hate bitcoin, since it is impossible to own billion bitcoins  Grin

Man, you deserve it... really!

Now that gif is pretty impressive.
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May 08, 2013, 01:19:09 AM
 #56

Small transactions: cash is faster and 100% secure (money goes from person X to person Y and is verified by counting in 10 seconds or less, vs. bitcoin's 20 minute block confirmation wait).

"Cash is faster"?  WTF?  

Maybe if I'm stood next to you.  But have you heard of this crazy new thing called "the Internet"?

Let's race.  You send $4 cash to Hong Kong; I'll send $4 worth of bitcoins.  Why would I want to do that you ask?  Ever bought a small gadget from ebay?  Ever bought an MP3 for less than a dollar from a server that's halfway around the world.

(you're also forgetting that the bitcoin transactions can be seen within, typically, two seconds; it takes 10 minutes to clear, compared to days for bank wire transfers to clear).

Bitcoin isn't perfect for everything, and buying your morning newspaper might well not be one of its "optimum" uses; but you're seriously ignoring huge areas were bitcoin is, essentially, unbeatable.

Speaking from the perspective of a very wealthy individual, why care about such an inferior currency system at all?  This is a proof of concept, not designed for mainstream use, and needs a lot of work.  Respect bitcoin for what it is and what it proves.  Graham Bell's first telephone is NOT an iphone.  Got it?

I don't think anyone is claiming otherwise.  The lead developer regularly calls bitcoin an "experiment" in interviews.


Ok, let's race. Because your leaving out some steps, and using an unrealistic amount. What if I give you 10k USD to send so anyone in Hong Kong can recieve/and use? Now you have to convert that to Bitcoin first(fast right?), have the other person setup a bitcoin wallet(piece of cake), then they have to convert the Bitcoin back out to cash to actually use it for anything except buying a stack of ASIC miners(that will never arrive). That's easy too right? I'm sure we just missed the news about all the banks where you can just walk in and get dollars for your Bitcoins in Hong Kong.
While your doing all that, I'll walk into a bank with the cash, wire the money to there account, and they have actual cash they can use tomorrow.
Hell, I could just go into the bank, get a certified check, walk over to the FedEx office and send it "FedEx International Next Flight" and they'll have the certified check in hand in less than 24hrs, walk it into there bank, and have usable funds.

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May 08, 2013, 01:29:49 AM
 #57

Too much walking for us nerds.   Grin

Also... Mailing etc.. will set you off for about 1% of 10k$, banks will sting you for another 3-8% on exchange rate. The charges are already fairly comparable.

True about the walking, when it does become easier and faster I will be very happy.

Considering the current volatility of the price of Bitcoin itself at any given moment, a guaranteed 3-8% hit would be preferable to possibility of a 20% or more hit either way during the time it takes to go from cash to btc to cash.

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May 08, 2013, 02:46:08 AM
 #58

If the some day I'll get to be a billionaire I'll invest in Bitcoins.
The thing is, if I do get to be a billionaire, it will be due to Bitcoins. No.

No.

There cannot ever be a Bitcoin Billionaire.

Smiley  LOL
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May 08, 2013, 02:48:51 AM
 #59

I wouldn't say billionaires HATE bitcoins, most probably don't know very much about it.

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May 08, 2013, 02:53:29 AM
 #60

If the some day I'll get to be a billionaire I'll invest in Bitcoins.
The thing is, if I do get to be a billionaire, it will be due to Bitcoins. No.

No.

There cannot ever be a Bitcoin Billionaire.

Smiley  LOL

Depends ... are you only counting actual bitcoins in your wallet or can you add in things like bitcoin denominated accounts? (Are you limiting this to M0 or can we use M3?)

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