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Why do people who have been in the financial industry for a long time seem to always talk negatively about it? Does it threaten their livelihood or do they just not know enough and so they speak negatively about it?
I was looking at the quotes from financial experts about bitcoin and almost all of them were fairly negative, but also almost all of their titles were more traditional financial-type jobs:
I'm not sure why I understand all the hate from this group.
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Financial experts do not hate Bitcoin. Some might hate Bitcoin -for several reasons including a conflict of interest as you suggested, but not all of them.
There are countless financial experts in the world including founders and investors in Bitcoin based businesses. Just do some more in depth research and you'll find them.
I looked at that page you provided the link to. My suggestions is don't take the Expert label for granted. Take a look at who these people actually are. Be vary of anyone who expresses a very strict opinion about something they don't necessarily understand.
I saw evidence of both non-expertise and outright ignorance on that page.
1Although you (or me, for that matter) may not agree with their opinions, labeling it "hate" seems overly and needlessly inflammatory. It doesn't exactly indicate that you're looking for a reasoned discussion. Furthermore, not all of the opinions are negative, so I wouldn't say they're always talking negatively about it. It's worth reading the entire page too. – John Bensin – 2013-09-05T02:40:26.433
I used 'hate' as a colloquial expression for not speaking positively about something. 7 of the 10 opinions expressed are primarily negative opinions, hence my question. – Ben Patterson – 2013-09-05T03:11:42.143
4Colloquial or not, statements like "Does it threaten their livelihood" seem to be loaded language that invites discussion, and I'm not sure questions like this are really welcome on SE sites. Unless you have a specific question about a specific statement on that page, this is a pretty broad, mostly opinion-based question that doesn't have a definitive answer. – John Bensin – 2013-09-05T03:13:37.043
"do they just not know enough and so they speak negatively about it". You are excluding the possibility that they speak negatively about it because they know more about it then we do. – Thilo – 2013-09-06T06:34:15.233
there is some dislike/aversion expressed by mainstream economists eg Krugman & also Greenspan is on record against it etc – vzn – 2014-03-10T16:13:13.517