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    Author Topic: Financial "Advisors"  (Read 1384 times)

    • fryarminer (OP)
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    January 07, 2015, 06:14:46 AM
     #1

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.

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    January 07, 2015, 06:17:51 AM
     #2
    LOL! Cheesy Yeah to be honest, there are times when I feel assured by this level of ignorance, because it really lets you know just how much of an early adopter of Bitcoin you are, even the newbies here are still early adopters compared to a lot of people out there, I still have plenty of time to build up my funds before the big investors move in.

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    January 07, 2015, 06:20:43 AM
     #3
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.



    I wonder what his point was when he mentioned "a tall skinny guy", does that add positive ethos to his statement?
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  • franky1
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    January 07, 2015, 06:32:08 AM
    Last edit: January 07, 2015, 03:47:00 PM by franky1
     #4
    just remember. that financial advisors, spend a couple years in business college and then go to financial universities and then have to sit some exam to prove they know how the fiat system works.

    they know nothing of real world currency. and only what those FIAT books have taught them
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  • AgentofCoin
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    January 07, 2015, 06:33:16 AM
     #5
    Quote from: lyth0s on January 07, 2015, 06:20:43 AM
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.



    I wonder what his point was when he mentioned "a tall skinny guy", does that add positive ethos to his statement?

    I wonder what the "alternative to Bitcoin" is and why its gonna be so "perfect"?

    Its probably gonna be some crap coin called something like Geraldo Rivera Coin.
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    January 07, 2015, 06:40:10 AM
     #6
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM
    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.

    Makes no sense.  If all the financial systems of the world collapse, then the technology we use (electricity/internet) will probably collapse too.

    The most efficient governments of all time (the Romans) could only occupy and govern a third of Europe at their peak.  What makes you think any one government would rule the entire world with no technology?
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  • btbrae
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    January 07, 2015, 06:54:26 AM
     #7
    These guys are clueless, but they have their own agenda. I remember the one I saw.

    Me: I'd like to protect my money against inflation
    Him: Oh, really, why do you think there will be inflation?

    Then immediately tries to set me up with his fund manager so he can earn a big fat referral commission. Was pretty obvious what it was all about. These guys prey on people with zero interest or zero knowledge just trying to get on with their lives and keep hold of their money for retirement or w/e.

    That said, there's probably the odd exception but imagine they get scooped up into better jobs pretty quickly.

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    January 07, 2015, 07:08:22 AM
     #8
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.



    LOL @ response #2. What do you think many drug dealers and gangs use to buy guns, drugs, and other "bad stuff"?

    I'm pretty sure they use FIAT (USD, EUR...etc).

    No wonder they never benefitted from utilizing bitcoin, they can't even see the difference and glaring similarities bad things are bought with USD etc.

    This stuff makes me laugh.  Grin Grin
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  • General_A
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    January 07, 2015, 10:01:20 AM
     #9
    Quote from: btbrae on January 07, 2015, 06:54:26 AM
    Was pretty obvious what it was all about. These guys prey on people with zero interest or zero knowledge just trying to get on with their lives and keep hold of their money for retirement or w/e.
    Sounds like altcoin pushers to me Tongue

  • ebruwifxnx
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    January 07, 2015, 11:23:59 AM
     #10
    To be fair if I was a financial adviser I would advise against bitcoin, not because of any of the reasons stated above and not because I don't believe it or own it myself, just because I would expect the average joe to either lose it or not understand that it is a completely risky investment. If someone showed me that they had a deep understanding of it then I would say yeah sure put some into it.

  • franky1
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    January 07, 2015, 03:04:40 PM
     #11
    Quote from: calaber24p on January 07, 2015, 11:23:59 AM
    To be fair if I was a financial adviser I would advise against bitcoin, not because of any of the reasons stated above and not because I don't believe it or own it myself, just because I would expect the average joe to either lose it or not understand that it is a completely risky investment. If someone showed me that they had a deep understanding of it then I would say yeah sure put some into it.

    this topic is turning into an 'englishman, scotsman and irishman meet at a bar joke'

    the irishman says 'ah, int it dat currency used for drugs'
    the scotsman says 'bit-what'
    the englishman says 'i know someone thats gonna make a mint out of it'
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    Please do your own research & respect what is written here as both researched opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at

  • Balls
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    January 07, 2015, 03:37:09 PM
     #12
    Quote from: franky1 on January 07, 2015, 06:32:08 AM
    just remember. that financial advisors, spend a couple years in business college and then go to financial universities and then have to sit some exam to prove they know how the fiat system works.

    they know nothing of real world currency. and only when those FIAT books have taught them

    This, but this sort of stuff can be applied to many careers. Just because they are a financial adviser doesn't make them an expert in all things money and investments. Their knowledge will likely be severely limited to fiat and current banking systems and if so they should know what a corrupt system it is.

  • mistercoin
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    January 07, 2015, 03:38:04 PM
     #13
    I do find it weird that a lot of "advisers" still have no clue what Bitcoin is.
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    January 07, 2015, 03:43:03 PM
     #14
    My next door neighbor is a financial manager AND the first to admit that people in finance are the least likely to help you with bitcoins.  It's flawed to even think they would be a good choice. This is the reason why Kodak could not see the digital future of photography and BlockBuster thought people would drive to the mall to get their video content rather than stream it.

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    January 07, 2015, 03:52:16 PM
     #15
    Quote from: AgentofCoin on January 07, 2015, 06:33:16 AM
    Quote from: lyth0s on January 07, 2015, 06:20:43 AM
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.



    I wonder what his point was when he mentioned "a tall skinny guy", does that add positive ethos to his statement?

    I wonder what the "alternative to Bitcoin" is and why its gonna be so "perfect"?

    Its probably gonna be some crap coin called something like Geraldo Rivera Coin.


    probably a Scam like Paycoin.


    but its a shame that these guys dont make some research.
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    January 07, 2015, 09:05:10 PM
     #16
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM
    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    In my experience, just asking them how you might protect a portion of your assets in the case of fiat collapse is sufficient to be met with stammers.

    I'm sure there must be some good ones out there somewhere, but it seems all that most of them know is how to pump their own firms' associated funds.
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  • fryarminer (OP)
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    January 08, 2015, 01:25:13 PM
     #17
    Quote from: RodeoX on January 07, 2015, 03:43:03 PM
    My next door neighbor is a financial manager AND the first to admit that people in finance are the least likely to help you with bitcoins.  It's flawed to even think they would be a good choice. This is the reason why Kodak could not see the digital future of photography and BlockBuster thought people would drive to the mall to get their video content rather than stream it.



    This is interesting. Never thought about it this way.

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    January 08, 2015, 01:29:51 PM
     #18
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.



    I think we would have an interesting conversation about it
    But its always nice to get a financial perspective from financial advisers on it ^^
    (No commission I dunno XD)

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    January 08, 2015, 01:34:33 PM
     #19
    Each with their very own opinion and I just wonder how they managed to get along and sit on the same table.
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    January 08, 2015, 05:41:12 PM
     #20
    Quote from: smoothie on January 07, 2015, 07:08:22 AM
    Quote from: fryarminer on January 07, 2015, 06:14:46 AM

    I've had the opportunity to interview financial advisors recently for other stuff. But at some point I always pop the question: "What do you think of bitcoin?"

    It's interesting. They never recommend it, and often have no idea what it is.

    Today I was at table with four "advisors".
    Response #1: "bit what? What is that?"
    Response #2: "don't get into Bitcoin. It can be used to buy anything on the Internet but it is only used to buy guns and bad stuff. However I met a tall skinny guy who has invented an alternative to Bitcoin and his is going to be perfect when he launches it."

    Then another went into conspiracy theories that all the financial systems of the world would collapse and that people would embrace a one-world currency imposed by some government.



    LOL @ response #2. What do you think many drug dealers and gangs use to buy guns, drugs, and other "bad stuff"?

    I'm pretty sure they use FIAT (USD, EUR...etc).

    No wonder they never benefitted from utilizing bitcoin, they can't even see the difference and glaring similarities bad things are bought with USD etc.

    This stuff makes me laugh.  Grin Grin

    and going by history if u use a computer u where a geek, now ur a warlord haha
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