Quote from: Sayeds56 on July 18, 2021, 06:49:00 PM

Quote from: wxa7115 on July 16, 2021, 04:57:37 PM

Quote from: RainbowKun on July 08, 2021, 03:18:23 AM

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. Economists are scholars who study economics. They have knowledge and social status far beyond ordinary people. Logically speaking, they should be more able to see the value contained in Bitcoin. Why are some economists always opposed to Bitcoin?

In my opinion, this is determined by the interests they represent. Many economists currently do not live independently. They need to depend on the government to survive. They need to help the government formulate various economic policies, financial policies, and monetary policies, so their starting point and interests must represent the government's will and interests. Therefore, in their world, the status of legal tender must be the most important and correct. On the contrary, they have forgotten the demands of the people and the interests of the people. 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.

This is my point of view, what do you think of this?

It is very easy to know why this is the case, after all if you are being paid to not understand something then it does not matter how many times a concept is explained to you it will be impossible for you to get it.

Basically economists are invested in the current model and since they get their living out of it they cannot understand bitcoin at all, also this is a matter of pride, they believe they are the masters of the universe and for an unknown person to create the best currency the world has ever seen is something they cannot tolerate and as such some criticize bitcoin out of envy.

Exactly, They are the beneficiary of current financial Model and make their living out of it which makes rich richer and poor poorer. The vested interests will always oppose any new Technology that can potentially challenge their interest but Bitcoin is here to stay and will replace the current financial system which is very un-democratic and serves the interest of elites but commons suffer.

Quite honestly I do not even put too much blame on them as this is just human nature, those that are at the top will want to remain there so they are naturally against any technology that may take them off that position.

For example this happened with electricity, back then most people used kerosene and candles to light their homes and the streets so when electricity appeared the ones that controlled those businesses did everything to avoid the adoption of this new technology, but they failed, and they failed because electricity was the best out of the two technologies, and I expect something similar to happen to bitcoin.