Middle East Richest Business Man, Won't Invest In Bitcoin

[soham]

Al Waleed, Saudi Prince, Announced in an interview with cnbc that bitcoin have no future arguing "It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision".

Also the Saudi government prohibited the use of bitcoin in the country!

Source: https://www.cnbc.com/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

My Comment:
Bitcoin exists 8 years ago, the price of bitcoin is not what real bitcoiners users search. Real bitcoiners joined bitcoin to enjoy privacy, transaction speed, secure ...


Regards,
Bitcoin Boy.

Saudi is very similar to North Korea. Their citizens have billions of dollars but they don't have the ability to work. They are banking on Oil, which is going to be depleted over time. Or if someone can create a machine which will let vehicles use water instead of Oil, their economy will be doomed. They don't allow their women to drive or go to play ground to cheer for their favorite team. DO you think their statements will have any value to the tech-savy mass?? I don't think so. Saudi was always a very conservative country. They don't have brains to run their business so they hire from outside to run their business. So their statement on financial matters doesn't hold any weight. Chill and Ignore!

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[jseverson]

Well it looks like he's already doing pretty well for himself, so he doesn't really need to invest on anything anytime soon. It kind of sucks that he made his comments in public, but where a grown man decides where not to put his money should be none of our business.

Also, Saudi Arabia didn't prohibit the use of Bitcoin. It simply warned its citizens that investing their money into it might impact their finances negatively, as per the article. It's overly pessimistic, as the opposite could also be said, but I'll take that over a prohibition. For as long as things stay that way, we should not be too concerned.

[pooya87]

whenever someone bothers to talk about bitcoin and it seems like they have enough information and also says they are not going to invest in bitcoin you have to consider the possibility that something is up! otherwise why would they bother saying it? why not talk about thousand other things they have not invested in?

besides we don't want the rich investing in bitcoin. at least that's what i say. let the rest of us invest as much as we can as long as price is cheap and by the time price went to the moon like 100K-500K let the rich come in and beg us to sell them some satoshis.

[Maestro75]

Al Waleed, the Saudi Prince, may be a very wealthy businessman but his opinion isn't likely going to count in matters of innovative modern technology such as the blockchain as that is strange to him. So, whether Al Waleed gives a thumbs up or a thumbs down to bitcoin, it really doesn't matter. Ah! It should matter were it a thumbs up, really. But certainly not a thumbs down. He should go consult the JP Morgan boss or even China to find out how their negative comments on Bitcoin didn't pull Bitcoin down.

[LogitechMouse]

I think the reason he doesn't want to invest in it because he can't control it. Even he is rich, he doesn't have the power to control it. He is like the other skeptical bank owners and china that says negative words to bitcoin. Never mind them it doesn't matter if he will or he will not invest with bitcoin.

[loaddebitcard]

Of course he won't bcz he invests in oil

[crytomusica]

Nobody cares what he thinks. Born with a silver spoon up his ass, has probably never done a hard days work in his life. People like him will always be anti bitcoin, he’s not going to want people in his country using it.

Exactly as what I'm thinking, nobody cares if he's into bitcoin or not. If he won't invest to bitcoin, there's nothing to deal with it but if he shows his view to invest in bitcoin that's a different thing and that can be beneficial to everyone. But well if that's decided that he won't invest in bitcoin so save it for himself, he grown up rich and he'll die rich so even if he invest with bitcoin it doesn't matter.

I also think same. If we consider the current volume of crypto currency market, even if you are the richest man on the earth you cannot effect market.

[tweetbit]

I read about this rich prince that is now on prison because of corruption. It’s better that he said this before going in jail for them to understand that all who against cryptocurrency is not really a good man with legal businesses but those criminals wanted to destroy bitcoin because of insecurity.

[djsugar]

Al Waleed, Saudi Prince, Announced in an interview with cnbc that bitcoin have no future arguing "It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision".

Also the Saudi government prohibited the use of bitcoin in the country!

Source: https://www.cnbc.com/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

My Comment:
Bitcoin exists 8 years ago, the price of bitcoin is not what real bitcoiners users search. Real bitcoiners joined bitcoin to enjoy privacy, transaction speed, secure ...


Regards,
Bitcoin Boy.

I wish they understood more things than oil. Many people have shown their apprehension towards Bitcoin. He isn't new. There are many reasons people don't trust Bitcoin as a currency, the main being it isn't backed by anything. People are jumping in Bitcoin for saving their hard money from inflation. These already extensively rich people hardly need it actually. I think more than the elite society, bitcoin is power to general public. The main use case and demand will rise from here only.

[Reez]

Of course this guy won't invest in Bitcoin. He is old and dying and on the way out and wants to preserve whatever he has left in his world. His wealth probably came from extortion and war and profiting from being greedy so that is all he understands is fake paper money. He will never understand Bitcoin and why it's taking away from his wealth. He's not going to have a happy last couple decades.

[crptotrader007]

That would not effect the price of Bitcoin in any way. When BTC can handle the statement of Jamie Dimon then his statement wouldn't effect BTC at all. There are many people who are against Bitcoin and make such statements without realizing the potential of BTC. Bitcoin has been in the market now for nearly 9 years and it has survived all the bearish moments, recovered from all the price drops and that is what has attracted many others to get involved in Bitcoin. The ones who are not involved are just missing the opportunity.

[TagaMungkahi]

"This thing is not regulated, it's not under control, it's not under the supervision".

Al Waleed knows what Bitcoin is, great definition. and Bitcoin is still alive with or without Saudi Arabia, Another Opportunity lost for Saudi Arabia.

Real bitcoiners joined bitcoin to enjoy privacy, transaction speed, secure ...

I agree that bitcoiners joined Bitcoin to enjoy privacy, transaction speed and security, early adopters does and I disagree because apparently as Bitcoin goes mainstream and Government gives attention to it, Bitcoiners are now joining Bitcoin because of the profit they can get.

[khaled0111]

I am certain that Al-Walid ben Talal one of middle east billionaire have no clue what bitcoin is and he answered like that because he don't know what to say.
Any way, it seems that bitcoin cursed him since he is lying in prison now because of corruption charges.
Bitcoin network is, basically, managed by intelligent people not wealthy ones.

[rb26]

Al Waleed, Saudi Prince, Announced in an interview with cnbc that bitcoin have no future arguing "It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision".

Also the Saudi government prohibited the use of bitcoin in the country!

Source: https://www.cnbc.com/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

My Comment:
Bitcoin exists 8 years ago, the price of bitcoin is not what real bitcoiners users search. Real bitcoiners joined bitcoin to enjoy privacy, transaction speed, secure ...


Regards,
Bitcoin Boy.

Maybe he said it because he knows nothing about bitcoin. And how sure are we that he's not holding any? Maybe he's trying to be another Jamie Dimon who is afraid of btc. Besides, I'm not familiar with the prince and that's a fact that not all know him so his statement won't affect us especially btc. Let's not make a fuss over this issue. We all know better.

[ImHash]

Richest man in the middle east could be the richest man in the world if he had invested on bitcoin 6 years ago investing on bitcoin is risky but it will make you profit, That's the whole point for people investing on bitcoin.

[SvenBomvolen]

Another Jamie Dimon. These filthy riches at/close to government hate bitcoin for a reason.

Let him go. He had earn a lot of money already which be enough for life of all his children and grand children. He doesn't need to search any other source for investment, so, I actually understand him.

[BrewMaster]

since when do we talk about rich people investing or not investing in bitcoin? it is not even news-worthy if you ask me to write an article about such things.
and lets not forget that bitcoin is too small for people like that! the marketcap of bitcoin being nearly $120 billion is a bit misleading because when you compare it to the things these rich people invested in (such as Oil related stuff) you can see bitcoin is nothing in their eyes now.

[lemonscentedbreeze]

He's even rich enough so he don't want to join the bitcoin revolution and besides he's a ruler to their country so he don't want to pursue people to get into something that's not regulated. I won't blame him with his decisions regarding bitcoin but let's see if their crude and oil will be out of stock they'll finally find some other things that they can make money and bitcoin will be a good choice for them. I respect his decision but it's possible that he'll change his mind.

If that was his reason then it would be acceptable I just hope he doesn't want to hinder his people the opportunity to get rich also.

[dali_masmoudi]

I think that he is represented as a ditractor of Bitcoin in the arab world in the middle east. He should not did  it because as all we know it can open new opportunities for youth and jobless.
We, arabs, still away and we have to be updated to the new crypto currencies and why not to legalize it.

[Theb]

Al Waleed, Saudi Prince, Announced in an interview with cnbc that bitcoin have no future arguing "It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision".

Also the Saudi government prohibited the use of bitcoin in the country!

Source: https://www.cnbc.com/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

My Comment:
Bitcoin exists 8 years ago, the price of bitcoin is not what real bitcoiners users search. Real bitcoiners joined bitcoin to enjoy privacy, transaction speed, secure ...


Regards,
Bitcoin Boy.

Your argument is really not a valid point as what you are saying are its features about being a currency. It's trading we are talking about they buy Bitcoin not to use it as a currency but it is use as a tool to make money. People don't really invest in Bitcoin they trade with it as  we can only speculate the future of Bitcoin as there is really no fair value for it. The Buying and Selling of Bitcoin must be done in a monitored manner as anytime the price can change quickly