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'Wolf of Wall Street' says Bitcoin is a 'huge scam' and a 'bubble' that is 'almost guaranteed' to burst as virtual currency ...




The man who was the real-life inspiration for the Wolf of Wall Street said on Friday that the cryptocurrency Bitcoin is a 'huge scam.'. Jordan Belfort says that the value of Bitcoin is likely to plummet..

Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 percent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument. Bitcoin has climbed almost 80 percent so far in December alone, putting it on track for its best month in percentage terms since December 2013..

While Bitcoin has added another fifth to its value since Monday, trading has been slightly calmer than the wild price swings the market has seen in recent weeks, with volatility lower since the launch of Bitcoin futures from Cboe Global Markets on Sunday. Belfort thinks Bitcoin's value will rise in the short term before crashing. '.

He compared Bitcoin to the 17th century 'tulip mania' in Holland, where the value of tulip bulbs skyrocketed before rapidly dropping. Belfort isn't the only one predicting Bitcoin's demise..

http://www.dailymail.co.uk/news/article-5185485/Wolf-Wall-Street-says-Bitcoin-huge-scam.html

Great it dives over to fundamentals, if scams or not.
If u take a gander at a graph Also perceive Practically An 90 level point up or down, it will be bound on do an Practically 90 level point At in the inverse direction, in the close future. I don't put resources into Bitcoin Nonetheless morals i bring invested/played for stocks that exchange around Bitcoin for example, DPW, NVDA, AMD, MARA, OSTK, etc,.

ONE of the greatest investors of all time, Warren Buffet, has now mentioned several times that Bitcoin is a bubble that can explode at times, calling it an asset that does not produce long-term value. This "Oracle of Omaha" does not seem overly optimistic about Bitcoin's future and intrinsic value.

Buffett has repeatedly warned that the current situation is very similar to the Tulip Bulb incident (lamp of tulips) that occurred in 1637, where the unworthy tulips at all suddenly gained huge demand and made exorbitant prices. However, prices suddenly fall near the "0" mark when the public realizes that Tulip Bulb is worthless. At a minimum, in such incidents the buyer still gets "tangible goods" ie Tulip Lamp itself. Unlike the Bitcoin and ICO schemes that occur, investors will lose "Everything" if at any time Bitcoin explodes.

One of the biggest SCAM artists in history has the audacity to say something original a 'scam'  If this is not the joke of the year then what is... ;D ;D

Bitcoin, ether, LTC etc used to have actual use cases, now they are solely used for speculation and gaining profit but this is nothing new, it has happened before. By 2019 it should die off on its own as the number of losers increase and then we can go back to using these currencies for exactly what they were built for.

im thinking its a bubble too, without a distinct usage aside of price speculation, there's a point in time that big whales will cash out and people will panic that everyone will sell out and try to get out on bitcoin,
alt coin will dominate the market because of their usage.

If you've seen the movie you'd know this guy a huge scumbag and wasn't a real good investor he himself was a scammer. Real great investors today like Warren Buffet and others are saying Bitcoin is legitimate and blockchain really is indeed the future.

I'm so sick of reading articles about how "XXX, financial expert" calls Bitcoin a bubble or a scam. Yes, these guys know money and investments. But they're lacking a HUGE fundamental knowledge of what makes Bitcoin so powerful, beyond just the currency aspect of it: the technology. Yes, a lot of new investors are undoubtedly getting into Bitcoin because of the surrounding hype and their greedy desires to make a quick buck on the upswing trends, but that's the nature of finance folks.

But let's look at some of the things that TECHNOLOGY pioneers and influencers have had to say about Bitcoin, because fuck what people who don't understand technology have to say:

"Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient." - Bill Gates

“Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution. And bitcoin is doing just the same when it comes to inventing a new currency.” - Richard Branson, https://www.youtube.com/watch?v=DzwTXZDSyHo

“Bitcoin is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.” - Eric Schmidt, Google

“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.” - Marc Kenigsberg, Host of Coinversation

“At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions1… all good things” - Peter Diamandis, X Prize Foundation

“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.” - Tyler Winklevoss, Co-creator of Facebook

“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world." - Peter Thiel, Co-Founder of Paypal

"Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets." - Kim Dotcom, CEO of MegaUpload

The biggest scammer is the man himself. Everything is fine when it is still on going. IMO, it will not blow. It will stay at the top and be model of all the coins and token. Unless something breakthru replace it. But still Bitcoin is Bitcoin.

so many predictions, news and stories that are showing up, because of this sky-rocketing price of these bitcoin, but even there are more than 100 negative news that bitcoin can be a huge scam or bubble, the reasons why we do not believe on that news/stories is because, we all (bitcoin holders) believing in bitcoin. it is up to us to take a risk in this "huge scam bubble" they always said. the most important things is you believe and do continue believing on what you believe in this project. honestly im so tired of reading some of this news/article/stories/blogs that contains a negative thoughts about bitcoin, why do they not to stop wasting their time on that.

Based on the hard facts over the years of Bitcoins growth, there was a lot of authors that said pretty much the same thing. Look where Bitcoin is now.

oh boy! somebody is trying to buy bitcoin at the bottom again and become a bigger bitcoin whale.

need I remind you the last time some so called "expert" called bitcoin a scam. he actually used the word "fraud".
in case you have forgotten, later on it was proven that their firm bought a huge amount of bitcoin exactly at the bottom of the dip that their CEO caused with his FUD and idiot newbies still poured their bitcoins cheap in their pockets thinking that James Dimon who is the biggest fraud himself was spreading FUD. and then price went up about $7000 from that time he talked about how it will fail...

Some people think in this way, But I don't think so...
I know why the price is getting higher day by day when supply is limited but the demand is not under control then the price must be a crazy horse. when the price was $1000 USD then people also said as so that Bitcoin is a scam and bubble.
But day by day Bitcoin demand is increasing so the Bitcoin holders are playing gamble in terms of Bitcoin. I also believe that Bitcoin is kind of a matter of belief. if you have belief then Bitcoin would be a good platform for your daily life.

Bitcoins value increases from last few days like a miracle. So it is hard to accept for investors and traders. Growth shown by bitcoin is not still not happened in real life, so these ideal investors have doubt on sudden increase and abnormal behavior of value.
So said lines of these idols is obvious.

Maybe this mister even tries to use his popularitiy in finance sector to drive down the price and afterwards he investes himself. Or he tries to rice other values he holdes which are somehow connected to btc.
Anyway this man is not a trustable source in my eyes!

One thing he missed out is that bitcoin is not like tulip which can be grown and has unlimited quality and quantity and can be produced at any given time and that is not the case with bitcoin which has limited amount of coins,the recent bitcoin bubble has many resemblance to the so called tulip mania as a common man cannot invest in it when the price is too high and the transaction charges are so steep ,if the transaction charges are sorted out,then we could evaluate every satoshi and that wont be an issue.

Jordan Belfort cmon.... he is a very nice and intelligent stockbroker before but what is in his portfolio is about manipulating the stock-marker during his all time high... now he was saying that bitcoin is a scam. what a lame... He is one of the brain who run the penny-stock scam before. And we dont know maybe he have a huge amount of bitcoin in his account. like what JPM Dimon says before to decrease the price of it.

Bitcoin is totally a scam if you dont know how it work, or you just believe about what some one says to you about it...

A bubble, right now (n my opinion)  i cant say if the bubble will occur or not...

I agree with you, I'm also tired hearing with this kind of news. Sad to say but many people still do believe that bitcoin is a scam, a bubble, fraud etc. even though bitcoin already proved its worth. It's very ironic that the main opposers of btc are big investors and businessmen which are supposed to be the one who can fully understand the potentials of it. I guess the best thing we can do is just respect their opinions because persuading them to believe is useless since their minds are already closed for btc or any cryptocurrency.

*Laugh out lout* isn't he the one who earns a lot of millions if not billions of dollars scamming people? He got a lot of nerve saying that and what does that makes him? Anyway no ones going to believe in him after he scammed all those people, if by some chance some idiot did I'd be shocked.

Bitcoin is a bubble doesn't mean it doesn't have any value to invest in. There are more people investing in bitcoin than people actually using it, but I do not see it is a bad thing. Just as currency, the main point is to invest in, opposed to stock market most company should have a use of. The bubble would burst in some time but it is not even close. Just calm down and take the chance. people who said bitcoin is a bubble are people who already accumulated wealth, their business is to keep their investment. However it is not the case for most of us. We need to worry more on losing the chance.

Regardless of who he is and what he did, he is not the first guy to give a statement like this and wont be the last one. I just feel lots of jealousy when someone says Bitcoin is a scam, they regret not buying it when they should have and now they are jealous of people who have them.

Haha oh it's the dumbass that compared it to the tulip mania. Hey can someone ask him what the hard cap of tulips is? I can't seem to find it when I Google it. I know bitcoin has one. Actually, everyone knows that bitcoins. Has one. Also it's fungible, can be broken down to 8 decimal places... how do I sell something for 1/3 of a tulip!? Do I get only stem? Seems like that would be the worthless part.

This guy and an ancient dinosaur on his way to extinction and he's fighting for his life. Screw him and his dinosaur friends. We're going to take over the ancient financial system.

Not surprised, the people that have huge bets and huge money in the banking industry and the government are the people that want to see Bitcoin fail. And the only way to make Bitcoin fail (in their mind)  is to try to delegitimize it in the news, they will soon find out that we really don't care about what they say and what they think and we will just do our own thing.

This shows what fake news is at it's finest.

I'd bet that any of these people who are negging crypto have more bitcoin holdings than any one person on this forum.   When you have that kind of capital, it's nothing to have a few million in long shots such as these, even long shots you don't think will make it.