Another wall street idiot, this time, Jordan Belfort calls bitcoin a fraud.

[nicosey]

Bitcoin is hard enough for believers and technies to understand.  Amazing how we listen to these so called experts.

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[AGD]

I wouldn't trust words from a criminal.

[HTracer]

That reminds me famouse "Trading is too risky!" on other board.
How WS big asses get used to be saved by taxpayeers money. Let them keep trading 30 times overbought stocks.

[leonair]

The more attention we give to these kind of people, the worst it is for Bitcoin. No matter the product/Currency or whatever you call it, anything that is innovative/out of the ordinary it is, is bound to criticism. It's not worth giving them the attention they want, often, they are hoping to influence the price so they can buy when the price falls.

We can without doubt blame ourselves for listening to these people and then from what they say we will act in a frenzy and sell our bitcoins. They are without doubt threatened by bitcoins and they will do anything to bring it down for their own selfish interests.Never mind the taunts of the enemy.

I am very much agree to the both of you, the more they get our attention the more they are winning. I never believe anymore to this guy that is hating on bitcoins because it is obvious that they have so many hidden agenda and their background speaks for themselves. They are all stupid for me and if you believe to what they are saying then you are more stupid.

[voronint11]

It’s really strange to hear such comments from Jordan Belfort the master of pump and dump. He would comment on anything just to sell seats at his sales seminars...

[batang_bitcoin]

They never get tired, so Dimon called a rescue and he finds out that "wolf" of wall st? I didn't even know who that guy is but whomever is he, there is something wrong with his statement supporting Dimon's statement bitcoin is a fraud. The real fraudsters are them they know how to make money out of thin air since they are living with financing industry and investment there is Wall St. I'm waiting for some more alias of Wall St to support their FUDs.

[amandavsc]

probably he does not even know what Blockchain is

[777Bitcoin]

Bad propaganda is still a propaganda as they say. So if they throw mud on bitcoin it only strengthen its foundation in our society. More advertising also used this kind of image building and it works but on the different effect. Bitcoin is given more attention by curious bystanders who will find and look for bitcoin because of this kind of statements.

[Harlot]

If the portrayal of Leonardo DiCaprio is a relfection of the real him then I won't listen to his suggestions or anything at all. Jordan Belfort is know for his manipulating power which is the reason why he got rich, he was really never a trader his persuasiveness led many people bankrupt where he didn't really care at all. And the most important thing here is that it is just his opinion there is no good basis on his explanation.

[aoluain]

What theae people asy in public does not mean much,
a lot of them hold bitcoin anyway.

I think it only advertises bitcoin in the long run and
possible helps to introduce more people to bitcoin

[joseafonso123az]

I think these guys are the ones playing pump and dump game with BTC. They are people that can influence the value of Bitcoin, and with this kind of talks, they believe it will go down, so they could buy them at low prices. All of them want to taste BTC, if they are saying that BTC is a fraud, then they are just inventing stories to decrease BTC value and buy them!

[TravelMug]

I think these guys are the ones playing pump and dump game with BTC. They are people that can influence the value of Bitcoin, and with this kind of talks, they believe it will go down, so they could buy them at low prices. All of them want to taste BTC, if they are saying that BTC is a fraud, then they are just inventing stories to decrease BTC value and buy them!

Exactly, they are just creating FUD to make people panic and sold their bitcoin so that they could bought it at a cheaper price. However, we know what Dimon has done, which is basically what they guy is doing right now. Create negative sentiments around and I'm sure that we will invest millions into it to gain profits. But, we are now wiser and mature not to believed this weasel because they have their own agenda behind this attacks and bashings. And if Leonardo is investing in bitcoin today, he might call Jordan Belfort an idiot for calling bitcoin a fraud. That would be classic. LOL.

[sukoon]

who should we trust? below is the link to article of wall street millionaire and his tweet. confused

http://oshenews.blogspot.com/2017/08/cryptocurrency-trading-or-digital-gold.html

[rockie87]

people like these come and go.There are many people against bitcoin who should says it is a fraud but never believe them.These are just rumors to decrease the price of bitcoin.

[Xervo]

Very interesting statement. If this person believes that the bitcoin problem is in the safety of his storage ... It's ridiculous. I think the security of the crypto-wallet is much more reliable than many banks of any country. A two-track system for authentification, code words, double passwords, alerts ... And this is not the whole list of all degrees of protection.
I think the point is that they want to create a negative image around bitcoin by any means. Otherwise, it is impossible to explain those strange things that were claimed.

[salihno71]

Why would anyone in right mind listen to anything this person has to say? I don't want to judge him but he documented his moral stance in his book.

[hiVe]

why we must care such person. like jp morgan ceo. suck

[arpon11]

We should be expect more of this attack as a lot FUD is going to be created this time around in other to bring bitcoin price down. Bitcoin is not a fraud and we all know this includes those make that comments. We can not denying the fact that bitcoin in future is going to take the jobs of bankers and wall street guys and they are not going to fold they hand to allow that to happen.

[VitKoyn]

Belfort called Bitcoin a fraud and said that “the biggest problem I see from Bitcoin, and why I would never buy it, is because they can easily steal it from you through hacking. I know people who lost all their money like that.”

Seriously? Easily steal by hacking? how about banks? they also can be hacked through credit cards which often happens today. Jordan Belfort is making a statement about Bitcoin without fully understanding what it is all about, does he know anything about blockchain technology? and why people should listen to this man who have been in prison because of manipulating the stock market, running a penny stock scam and money laundering.

[8Habits]

From cointelegraph

Yet another high-profile criticism came against Bitcoin, this time from the “Wolf of Wall Street” himself, Jordan Belfort.

Belfort called Bitcoin a fraud and said that “the biggest problem I see from Bitcoin, and why I would never buy it, is because they can easily steal it from you through hacking. I know people who lost all their money like that.”

It came only weeks after Chase Bank CEO Jamie Dimon called Bitcoin a fraud, and made his distaste for Bitcoin crystal clear when he suggested he would fire any employee trading Bitcoin on the company’s accounts. However, JP Morgan bought a large block of Bitcoins days after the CEO statement.

But Jamie Dimon is not the only one with this view on Bitcoin. Ray Dalio, the founder and head of the world’s largest hedge fund Bridgewater, recently stated that Bitcoin is “a highly speculative market”, and in fact is a “bubble”.

Belfort also finds it “bizarre” that Bitcoin is only backed by a program that creates artificial scarcity and said that because of this, the digital currency is not sustainable.

Although Belfort believes in the concept of cryptocurrencies, he stated the current model holds too many problems. According to him, there is a future for digital currencies, but he thinks it’s essential for digital coins to get “some sort of backing” by central governments.

In his opinion, a central bank will sooner or later introduce their own cryptocurrency, which will be more sustainable.

“There will be a time when everybody is freaking out about Bitcoin and dumps it and who knows what’s going to happen?”

In a situation like that there’s no buffer, for example the Federal Reserve, to cushion the blow.

He issued a final warning to investors and said, “Be very careful not to invest a lot of money into something that could vanish very quickly.”


GOOD RESPONSES



RJF  Enterprise Miner • 7 hours ago

“Be very careful not to invest a lot of money into something that could vanish very quickly.” You mean like the mortgage and bond markets did in 2008? Typical Wall Street scum bucket. No clue what he is talking about, trashing Bitcoin because Jamie pulls his strings. Most likely hoping to buy when the price drops from his uninformed statements. Tell you what Jordan, you keep right on preaching that crap as the world passes you by. Wonder if you'll be able to beg for Bitcoin on the street or will your pride prevent that? Maybe Jamie and you can share a cardboard box... Or a cell.


sjs • 11 hours ago

Just like Dimon, he is buying himself some banking establishment kudos with anti bitcoin rhetoric. For all we know he may well be invested in the very thing he castigates. It wouldn't be like him to miss out on the next opportunity to make a killing - the great wolf of wall street. Perrick. To be ignored!!


Paul Peters • 13 hours ago

You can store your bitcoins offline very simply. That solves the hacking problem.

And with the right hardware or a little practice you can still get transactions off in under 30 seconds. This guy doesn't know what he's talking about.

And even if for some reason you didn't store them offline it would still require user-error to allow someone access. The only "hacking" would be dependent on the person who owns them.


Rich Martel • 13 hours ago

Bahaha, what an idiot. You can't hack someone's Bitcoin! He doesn't even know what he's talking about!


Artem S. • 15 hours ago

As I see it, establishement, which Mr.Belfort obviously belongs to, is afraid of a gigantic black hole (Bitcoin) that has begun sucking all assets and fiat. Fiat money is controlled, inflated, very inefficient to transfer from peer to peer, and censored.


Antony Alloin • 15 hours ago

“the biggest problem I see from Bitcoin, and why I would never buy it, is because they can easily steal it from you through hacking.”

Get educated fool!

"it’s essential for digital coins to get “some sort of backing” by central governments."

I, the central government of the decentralized interwebz, declare to back every bitcoin in existance with a worthless piece of paper.

“Be very careful not to invest a lot of money into something that could vanish very quickly.”
Yeah, just look at Venezuela!

I think he just said that so that he can but bitcoin at a much cheaper price after his pronouncement. Bitcoin is not a fraud and definitely not a joke! Many big investors are already inside and kept on investing to bitcoin because they saw the real future of bitcoin and it is evident of how it emerges from few cents to thousand of dollars nowadays.