Yeah, currency traders, what do they know?

Isn't it very obvious that anyone in the current financial world(Traders/FX brokers) doesn't like cryptocurrencies?

Oh, it's obvious. Ever wonder why? Bias? Conspiracy? Ya know, traders would trade cockroach shit if there was a market. It could be bias, could be that these professionals ask themselves, "how can I value this?" and come up empty.

So a finance person not understanding technology without any asset backing it is understandable and so they are not bullish about Cryptocurrencies. Everyone knows the crypto market is crazy, it's difficult to comprehend. But few of the top coins will survive in some or the other form.

Also, everyone in finance not agree on the idea it's a bubble. Goldman is starting a trading desk[1] in 2018 for cryptocurrencies, I will just wait until more traditional financial institutions join.

[1] - https://www.bloomberg.com/news/articles/2017-12-21/goldman-i...

> Isn't it very obvious that anyone in the current financial world(Traders/FX brokers) doesn't like cryptocurrencies?

"Oh finance people just don't _like_ cryptocurrencies!"

Well, finance people make their living either trading or selling anything at all they can get their hands on. Have you asked yourself why it is that they don't have the same attitude towards cryptocurrencies? Why is it that they don't apply the same knowledge and experience that they have from years of trading other financial instruments, to cryptocurrencies? Nothing strikes you as strange here?

Personally I trust the future of finance, governance, security representation, IOT, fog computing and other yet to be developed applictations to software engineers rather than wall street and lawyers.

You also may want to reevaluate your initial thoughts on what representations of value can do for each of these use cases.

A quick example: A secure means of sharing information and value across devices is a building block for the internet of things. How would such a standard exist and how would the value distribution become agreed upon?

There are many crypto currencies in the space

edit: removed coin reference, really not trying to convince anyone to buy anything, just re-evaluate prejudices

Using centralized systems. Why would a more expensive distributed not-quite-trustless system be better than a far simpler and cheaper system built on centralized trusted authorities?

Bloomberg seem to love speculating on bubbles of all sorts https://www.google.ca/search?q=bloomberg+bubble+bust

Can someone point out a better (actual) reason to downvote it?

I'm confused, doesn't parent fit the narrative of "get rich on bitcoin"? Anyway, my guess for why the downvotes is because it's a reverse of "appeal to authority". The classic appeal to authority is, "he/she is a $MUCKITY_MUCK in this field, and therefore should be listened to." with no real reason to listen other than that they hold a title of authority on the subject. Parent is the reverse: "Authorities on the subject are, of course, biased and should not be listened to."