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Author Topic: "Bitcoin will implode"...  (Read 1408 times)
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October 23, 2017, 11:38:42 PM
 #1

...says Saudi billionaire investor Prince Alwaleed bin Talal. He added,

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"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]... I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making..."

Read more of it here: https://www.c[Suspicious link removed]m/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

What do you think guys? Does his opinion have any real or historical basis? Or is his just a misinformed opinion?

(Note: I know that this post should probably be in the child board Press, but most of the stuff going on there are just news postings and not much else. I just want to know your informed and intelligent take on his opinion. Thanks.)
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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October 24, 2017, 03:18:18 AM
 #2

...says Saudi billionaire investor Prince Alwaleed bin Talal. He added,

Quote
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]... I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making..."

Read more of it here: https://www.c[Suspicious link removed]m/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

What do you think guys? Does his opinion have any real or historical basis? Or is his just a misinformed opinion?

(Note: I know that this post should probably be in the child board Press, but most of the stuff going on there are just news postings and not much else. I just want to know your informed and intelligent take on his opinion. Thanks.)


For most of his statement, he's making sense. He's essentially saying that Bitcoin is decentralized but in a way that may not seem super positive or reinforcing. As for the last part, it's solely his belief that a lot of people refute and do not agree with. I don't understand the Enron reference, however. Enron was a scandal that had a lot of false numbers and false claims. Bitcoin doesn't have that one entity to bullshit numbers.

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October 24, 2017, 07:08:56 AM
 #3

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

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October 24, 2017, 04:44:15 PM
 #4

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

Considering he is among the richest *fiat* holders on the planet, he should feel threatened by Bitcoin which undermines his whole empire

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October 24, 2017, 08:10:59 PM
 #5

He has not cared to explain what if anything is common among Bitcoin and Enron. I doubt he knows what he is talking about and is simply stating his feelings based on the unknown or his own ignorance.
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October 24, 2017, 09:54:57 PM
 #6

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

Considering he is among the richest *fiat* holders on the planet, he should feel threatened by Bitcoin which undermines his whole empire

He holds his richest status as a badge of honour.
He was once accused of trying to inflate his wealth just to get on the Forbes list of top 10 billionaires.


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October 28, 2017, 01:40:31 AM
 #7

...says Saudi billionaire investor Prince Alwaleed bin Talal. He added,

Quote
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]... I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making..."

Read more of it here: https://www.c[Suspicious link removed]m/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

What do you think guys? Does his opinion have any real or historical basis? Or is his just a misinformed opinion?

(Note: I know that this post should probably be in the child board Press, but most of the stuff going on there are just news postings and not much else. I just want to know your informed and intelligent take on his opinion. Thanks.)

If he does not understand something the best thing he could say is, I do not know if asked anything about bitcoin, the fact that he recognizes that he is unable to understand bitcoin and yet he declares that bitcoin is just like Enron is the opinion of something so full of himself that he will not recognize a good investment like bitcoin even if it hit him in his rear end and very soon bitcoin will do exactly that and he will need to eat his words.


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October 28, 2017, 02:06:18 AM
 #8

...says Saudi billionaire investor Prince Alwaleed bin Talal. He added,

Quote
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]... I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making..."

Read more of it here: https://www.c[Suspicious link removed]m/2017/10/23/prince-alwaleed-says-bitcoin-will-implode-enron-in-the-making.html

What do you think guys? Does his opinion have any real or historical basis? Or is his just a misinformed opinion?

(Note: I know that this post should probably be in the child board Press, but most of the stuff going on there are just news postings and not much else. I just want to know your informed and intelligent take on his opinion. Thanks.)


But the whole idea behind bitcoin is to create a decentralized environment for transactions? To accuse something of doing something that was its entire purpose in the first place just does not make sense itself.

In my opinion, he is definitely misinformed.

Price of bitcoin could go down in the short term, but bitcoin won't just "implode".

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October 28, 2017, 02:15:18 AM
 #9


Quote
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]..."
that's the whole f***ing point !! seriously the people (holders) of bitcoin are the only ones that control it's value. in my dream scenario bitcoin is some sort of voucher that is used in exchange of goods and services. like the real definition of cash.

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October 28, 2017, 04:24:35 AM
 #10

You can't take people's word these days.

Otherwise, bitcoin has been dead thousands of times and is about to collapse ever since its inception. Not to mention bitcoin being a ponzi scheme countless times, all from people that are apparently respected bankers and public figures.

Even if bitcoin price experiences a correction which i think it will, its technology will live on and benefit people. Just look at Venezuelans, they are using bitcoin for real life purposes(save money).


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October 28, 2017, 05:03:06 AM
 #11

You have to be involved in Bitcoin and use Bitcoin to really know what it's worth. If he has not used Bitcoin then what he says is worthless because he knows nothing.

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October 28, 2017, 05:41:56 AM
 #12

You can't take people's word these days.

Otherwise, bitcoin has been dead thousands of times and is about to collapse ever since its inception. Not to mention bitcoin being a ponzi scheme countless times, all from people that are apparently respected bankers and public figures.

Even if bitcoin price experiences a correction which i think it will, its technology will live on and benefit people. Just look at Venezuelans, they are using bitcoin for real life purposes(save money).
actually not just venezuelans who use bitcoin as a real-life goal, even many of us use bitcoin as real life, even they only have income from bitcoin alone, and even I can not imagine if bitcoin becomes extinct, maybe there will be a lot of unemployment in the world , and this is the fear for us all,

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October 28, 2017, 05:53:03 AM
 #13

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

Considering he is among the richest *fiat* holders on the planet, he should feel threatened by Bitcoin which undermines his whole empire

He holds his richest status as a badge of honour.
He was once accused of trying to inflate his wealth just to get on the Forbes list of top 10 billionaires.

Well that may be a one probable cause why he is so sourpuss about bitcoin or he didn't buy a larger amount in the days bitcoin is still cheap, but can you blame him, he is so rich he is blinded by it that he can not see bitcoin making a future someday, because of the price of bitcoin back then, many investors are ignoring it and putting bitcoin in a scam position, as for us that making a living and just surviving from our daily salary bitcoin is an eye opener in gaining and becoming a millionaire someday.

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peter0425
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October 28, 2017, 06:34:28 AM
 #14

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

He may probably missed the boat earlier. But the guy is super rich already, no need to bashed bitcoin on his end. But if you read that their government is not banning bitcoin as well, so I don't know why the prince is attacking bitcoin. Although he is somewhat confused by comparing it to Enron. If I were him, will just put his cash on bitcoin instead of buying stuff they not needed like getting expensive cars who just collected dust in their garage. I'm sure he is secretly buying bitcoin for all we know.  Grin. I haven't seen his reply though regarding this government's support on bitcoin.

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jvdp
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October 28, 2017, 06:53:23 AM
 #15

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

Considering he is among the richest *fiat* holders on the planet, he should feel threatened by Bitcoin which undermines his whole empire

He holds his richest status as a badge of honour.
He was once accused of trying to inflate his wealth just to get on the Forbes list of top 10 billionaires.

Well that may be a one probable cause why he is so sourpuss about bitcoin or he didn't buy a larger amount in the days bitcoin is still cheap, but can you blame him, he is so rich he is blinded by it that he can not see bitcoin making a future someday, because of the price of bitcoin back then, many investors are ignoring it and putting bitcoin in a scam position, as for us that making a living and just surviving from our daily salary bitcoin is an eye opener in gaining and becoming a millionaire someday.

Bitcoin is not the concern about these kind of whales. Ask to that Saudian, what is the potential of bitcoin, uses of bitcoin and positive and negative impacts of the bitcoin. He cannot able to open his mouth at all. People does not understand about the digital currency usages they simply give a tweet or fake troll information on the bitcoin.

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YuginKadoya
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October 28, 2017, 07:03:56 AM
 #16

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

He may probably missed the boat earlier. But the guy is super rich already, no need to bashed bitcoin on his end. But if you read that their government is not banning bitcoin as well, so I don't know why the prince is attacking bitcoin. Although he is somewhat confused by comparing it to Enron. If I were him, will just put his cash on bitcoin instead of buying stuff they not needed like getting expensive cars who just collected dust in their garage. I'm sure he is secretly buying bitcoin for all we know.  Grin. I haven't seen his reply though regarding this government's support on bitcoin.

He must be saying this for a reason, or he got a scheme going to his head, but I may be wrong or he is getting the wrong idea about bitcoin just like you said comparing it to Enron was not a great move because all bitcoin investors know that bitcoin is not something that could fail them proven and tested with the exceeding value of bitcoin, but I guess he is just saying that because there are maybe a flaws with the bitcoin system and he got a mind set like that.


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October 28, 2017, 07:17:19 AM
 #17

The comments here are funny. 

Imho, the truth is it could implode.  Didn't Satoshi himself said that in a few decades, Bitcoin could either be having millions (billions?) of transactions per day or nothing.  Not sure about the exact words but that was the idea.

It was Satoshi himself who first said Bitcoin could implode.

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filharvey
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October 28, 2017, 09:10:47 AM
 #18

Nothing other could be expected from a person belonging to royal family,enjoying benefits and having strict control over their citizens.Saudi royal family would not like its people enjoying financial freedom by using bitcoin and getting out of their control.We earlier saw putin,russian president also criticizing bitcoin as a pyramid scheme.

We could easily see the similarity in tones of these leaders ruling their individual countries.They would never praise bitcoin and they would only try to show it down by any means.Bitcoin has successfully passed its initial stages and bitcoin as well as bitcoin community is no more in need to analyze speeches of such persons.Just neglect it.

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October 28, 2017, 09:34:19 AM
 #19

You can't take people's word these days.

Otherwise, bitcoin has been dead thousands of times and is about to collapse ever since its inception. Not to mention bitcoin being a ponzi scheme countless times, all from people that are apparently respected bankers and public figures.

Even if bitcoin price experiences a correction which i think it will, its technology will live on and benefit people. Just look at Venezuelans, they are using bitcoin for real life purposes(save money).
Lol i agree with these news don't effect most of us in today's date first some jpmorgan shit told it is a scam and finally purchased during the dip and now some random saudi billionaire don't know when will people stop b/sing about btc.

Quote
"It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision [of any central bank]... I just don't believe in this bitcoin thing. I think it's just going to implode one day. I think this is Enron in the making..."
The answer that btc is safe is in his words ' it is not regulated' that is makes investors to invest more ans more in it they don't have to worry anytime and government seizing his money or keeping an eye on us to charge us unnecessary taxes so that they can spend it to kill people.

You have to be involved in Bitcoin and use Bitcoin to really know what it's worth. If he has not used Bitcoin then what he says is worthless because he knows nothing.
Right most of these so called billionaires don't know shit about btc and because it has a high price simoly conclude it is going to implode.

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October 28, 2017, 12:40:33 PM
 #20

it's just another opinion and everything that he said make a sense to be honest,
for them who has a lot of money in their pocket,they will not bothering themself with such a thing.
but if you ask them about what is in your mind about Bitcoin ?
of course the majority people will say the same,because who will be the keeper if something goes wrong ?
(he just thought it rationally and do not want lose his money without a reason)
Bitcoin price right now is ridiculously high for some people and without a good knowledge they will label it as an 'unkown' assets.

He is comparing it to Enron. I think it is just a case of sour grapes. He missed investing in it and now he thinks it will implode. Just like Jamie, he feels threatened by Bitcoin.

Considering he is among the richest *fiat* holders on the planet, he should feel threatened by Bitcoin which undermines his whole empire

i do not think so mate,
no matter what fiat will exist and nobody can replace it,

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