Bitcoin is increasingly popular – from being accepted by BlackRock, the US government getting involved, to being able to buy burgers with BTC. However, skepticism towards this asset still persists, even among the tech community. Why is that?



Big names still don't believe.

Although Bitcoin has become the focal point of institutional money, many financial giants still express criticism. Warren Buffett called Bitcoin "rat poison squared," while JPMorgan Chase CEO Jamie Dimon once stated that "Bitcoin is a complete fraud" and questioned whether the Bitcoin code is really limited to 21 million coins as many claim.


Ironically, at the same time, JPMorgan is still using blockchain technology – which was invented from the Bitcoin network itself.



Those who understand technology… still do not understand Bitcoin.

Adam Back – CEO of Blockstream and one of the first to communicate with #SatoshiNakamoto – believes that many programmers and tech people not understanding or being indifferent to Bitcoin is puzzling.



"You know about encryption, peer-to-peer networks, security, and privacy – yet you still don't care about Bitcoin, which is quite strange," Back said.



Even many cypherpunks – a group advocating for internet privacy – also ignored Bitcoin in its early days, even though they were ideal candidates to grasp this technology.



"If you don't see it, you don't believe it."

According to Adam Back, part of the skepticism comes from #Bitcoin not existing in physical form, even though it has a clear scarcity characteristic: only 21 million coins are created. He emphasizes that Bitcoin is still backed by real energy and mining equipment, rather than just being something "virtual" as many mistakenly believe.



Is Bitcoin not for those who are "comfortable" with the current system?

Back argues that those who are successful in the traditional financial system often find it hard to see the value of Bitcoin:



"If you have a high income, are climbing the career ladder, and have bought a house, you may not feel the depreciation of fiat money or system instability."



Bitcoin was created during the financial crisis of 2008, with the first message on the genesis block recording the collapse of banks. Therefore, it was born to confront the traditional financial system.


Today, Bitcoin users see it as a truly anti-inflation asset, thanks to its fixed supply mechanism and transparency through open-source code.



In summary:

Bitcoin is being recognized by financial institutions and governments, but skepticism still exists, mainly due to:




Prejudices about the "virtual" nature of digital assets.




Distrust from those who benefit from the traditional system.




The mindset of "if I don't see it, I don't believe it" and the ambiguity surrounding blockchain technology.




Adam Back emphasizes that although Bitcoin is hard to understand for many, it still represents a transparent, decentralized, and scarce alternative – something that the current financial world struggles to provide.



Risk warning: Investing in cryptocurrencies always carries significant risks and is not suitable for every investor. Please do thorough research and exercise caution before making any decisions. #anhbacong