Bitcoin Forum
July 18, 2019, 12:02:41 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2017-10-23] Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'  (Read 5180 times)
gokayc
Sr. Member
****
Offline Offline

Activity: 406
Merit: 263



View Profile
October 24, 2017, 02:11:14 AM
 #1

Saudi Prince Al-Waleed bin Talal sharply criticized bitcoin during an appearance on CNBC today, saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud."

"I just don't believe in this bitcoin thing," Al-Waleed said, according to a transcript published by CNBC. "I think it's just going to implode one day. It's Enron in the making."

When asked about the specific comparison between bitcoin and the infamous American energy company that fell apart in the early 2000s amid revelations of massive accounting fraud, Al-Waleed reiterated his position that he "just [doesn't] believe in bitcoin completely."

Al-Waleed went on to say:

    "It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

It was then that Al-Waleed – a Saudi royal family member who, as head of the Kingdom Holding Company, has an estimated net worth of more than $17 billion – said he agreed with Dimon, who issued the now-infamous remark last month that he believes that bitcoin "is a fraud."

Dimon – whose bank is a backer of blockchain-related initiatives like the Enterprise Ethereum Foundation – has since doubled down on those remarks, predicting that governments would begin targeting the cryptocurrency.

https://www.coindesk.com/saudi-prince-al-waleed-bitcoin-going-implode/?utm_content=buffer6fa63&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

           ▄▄█████████▄▄                         ▄█▄                ▀██████▄                   ▄██████▀
        ▄█████████████████▄▄                    ▄███▄                 ▀██████▄               ▄██████▀
         ▀███████████████████▄                 ▄█████▄                  ▀██████             ██████▀
           █▀▀       ▀▀████████▄              ▄███████▄                   ██████▄         ▄██████
  ▄█▄                    ▀██████▄            ▄█████████▄                   ▀██████▄     ▄██████▀
 ▄████▄                    ▀█████▄          ▄███████████▄                    ███████▄ ▄███████
▄█████▀                     ▀█████▄        ▄██████▀██████▄                     █████▀▀▀█████▀
██████                       ██████       ▄██████   ██████▄                     ▀█▀     ▀█▀
██████                       ██████      ▄██████     ██████▄                     █       █
██████                       ██████     ▄██████       ██████▄                   ▄█▄     ▄█▄
▀██████▄                    ▄█████▀    ▄██████         ██████▄                ▄█████▄▄▄█████▄
 ▀██████▄                  ▄█████▀    ▄██████                                ███████▀ ▀███████
  ▀██████▄               ▄██████▀    ▄██████                               ▄██████▀     ▀██████▄
   ▀████████▄▄       ▄▄████████▀    ▄██████                               ▄██████         ██████▄
     ▀███████████████████████▀     ▄██████                 ██████▄      ▄██████▀           ▀██████▄
       ▀▀█████████████████▀▀      ▄██████                   ██████▄   ▄██████▀               ▀██████▄
           ▀▀█████████▀▀         ▄██████                     ██████▄▄██████▀                   ▀██████▄
  O HOLD YOUR
OWN KEYS!
  O   O [SUCCESS   
RAISE
US$18mil+]
1563451361
Hero Member
*
Offline Offline

Posts: 1563451361

View Profile Personal Message (Offline)

Ignore
1563451361
Reply with quote  #2

1563451361
Report to moderator
1563451361
Hero Member
*
Offline Offline

Posts: 1563451361

View Profile Personal Message (Offline)

Ignore
1563451361
Reply with quote  #2

1563451361
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1563451361
Hero Member
*
Offline Offline

Posts: 1563451361

View Profile Personal Message (Offline)

Ignore
1563451361
Reply with quote  #2

1563451361
Report to moderator
1563451361
Hero Member
*
Offline Offline

Posts: 1563451361

View Profile Personal Message (Offline)

Ignore
1563451361
Reply with quote  #2

1563451361
Report to moderator
1563451361
Hero Member
*
Offline Offline

Posts: 1563451361

View Profile Personal Message (Offline)

Ignore
1563451361
Reply with quote  #2

1563451361
Report to moderator
Baofeng
Sr. Member
****
Offline Offline

Activity: 840
Merit: 472


View Profile
October 24, 2017, 03:27:11 AM
 #2

With all the wealth he has, I think it doesn't make sense for him to criticized bitcoin. However, bitcoin is now very popular, every individual has its very opinion on it. hahahaha. Every one that you are going to interview has something to say about bitcoin. I hope you are not investing on it Price, otherwise you are just getting into the popularity and riding with it all along. We can understand Dimon's attack because he is a bankers, but you sir with your billions of pesos just sitting everywhere, doesn't makes sense to bash bitcoin at your level.

bustadice         ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
                     ▄▄███████▄▄
                  ▄███████████████▄
   ███████████  ▄████▀▀       ▀▀████▄
               ████▀      ██     ▀████
 ███████████  ████        ██       ████
             ████         ██        ████
███████████  ████     ▄▄▄▄██        ████
             ████     ▀▀▀▀▀▀        ████
 ███████████  ████                 ████
               ████▄             ▄████
   ███████████  ▀████▄▄       ▄▄████▀
                  ▀███████████████▀
                     ▀▀███████▀▀
           ▄██▄
           ████
            ██
            ▀▀
 ▄██████████████████████▄
██████▀▀██████████▀▀██████
█████    ████████    █████
█████▄  ▄████████▄  ▄█████
██████████████████████████
██████████████████████████
    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
    ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
       ████████████
[bustadice.
Play
bustadice]
iamTom123
Hero Member
*****
Offline Offline

Activity: 490
Merit: 501



View Profile
October 24, 2017, 09:22:19 AM
 #3

Quote
"It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

And that ladies and gentlemen is the very reason why Bitcoin makes sense. It is precisely because it is not under any governmental agency that can easily do whatever it wants to do like printing more paper money to supposedly prop the economy while decreasing the future value of the fiat currency. It is not under the control of the government is the very reason why we have Bitcoin.

The guy was talking about Enron and its magnificent as well as unbelievable collapse many years ago. That company must be close to this guy's heart and mind because Enron was in the energy sector...most probably he has an investment in there and he lost much money that's why he purposely compare Bitcoin to Enron.

But there is just one question he should know: Was Enron not under the supervision of any government agency? Was Enron not a milking cow and its men became so corrupt?

It is absolutely because of these reasons that is why we have Bitcoin. Now, that is making sense.
Thekool1s
Legendary
*
Offline Offline

Activity: 1204
Merit: 1064


Design Manage Sleep Repeat


View Profile WWW
October 24, 2017, 09:33:23 AM
 #4

Quote
"It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

And that ladies and gentlemen is the very reason why Bitcoin makes sense. It is precisely because it is not under any governmental agency that can easily do whatever it wants to do like printing more paper money to supposedly prop the economy while decreasing the future value of the fiat currency. It is not under the control of the government is the very reason why we have Bitcoin.

The guy was talking about Enron and its magnificent as well as unbelievable collapse many years ago. That company must be close to this guy's heart and mind because Enron was in the energy sector...most probably he has an investment in there and he lost much money that's why he purposely compare Bitcoin to Enron.

But there is just one question he should know: Was Enron not under the supervision of any government agency? Was Enron not a milking cow and its men became so corrupt?

It is absolutely because of these reasons that is why we have Bitcoin. Now, that is making sense.

You stole the words from my mouth. This is the exact reason why all the bankers and governments are scared of bitcoin, Right now bitcoin may be overvalued due to people jumping in just because of the price hype, but bitcoin has true potential, which will be realised one day or another by the masses. Its just a matter of time.

okae
Legendary
*
Offline Offline

Activity: 1274
Merit: 1002


northern exposure


View Profile WWW
October 24, 2017, 09:45:09 AM
 #5

What don't make sense is the logic that comes out of the brain of those guys, but it didn't surprise me, there is nothing new...

...saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud."...

that's what he said, what he is doing is buying bitcoin on the shadows like his friend JPMorgan did....good attempt, but nobody believe on those guys anymore, or at least should not....

IMHO #1 of suspects, Hal Finney is/was Satoshi Nakamoto
Thekool1s
Legendary
*
Offline Offline

Activity: 1204
Merit: 1064


Design Manage Sleep Repeat


View Profile WWW
October 24, 2017, 09:59:43 AM
 #6

What don't make sense is the logic that comes out of the brain of those guys, but it didn't surprise me, there is nothing new...

...saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud."...

that's what he said, what he is doing is buying bitcoin on the shadows like his friend JPMorgan did....good attempt, but nobody believe on those guys anymore, or at least should not....

Exactly, we should expect these kinds of statements from them, They are billionaires, they may have missed their bitcoin boat and now they are regretting it. That's what they want, spread Fear and uncertainty in the public which will reduce the bitcoin price and make it affordable for these folks, once again making them the new masters.

michkima
Hero Member
*****
Offline Offline

Activity: 896
Merit: 514


View Profile
October 24, 2017, 11:31:44 AM
 #7

I would like to say to that prince "go fuck yourself!" I hate monarchy! Why do they have the right to be higher than anyone else just because they were born into that family? Also, what the fuck does a spoiled rich kid knows about anything? I first read this on the site itself and I was meaning to post this and give a piece of my mind!

Ok, what does a prince have that entitles him to be a financial guru? Does he have some sort of knowledge that would involve creating accurate predictions? I don't think so!

Also, he fucking compared it to ENRON! Fucking ENRON! That's so different! Not even in the same class. WTF! Go fucking die you useless piece of garbage!

(Sorry for the words here, I'm just really frustrated about this guy. I'm so pissed at these people who don't know shit about crypto!)
1Referee
Legendary
*
Offline Offline

Activity: 1946
Merit: 1325

Segwit please.


View Profile
October 24, 2017, 01:28:00 PM
 #8

Since when does the community actually care about whatever individual person speaking out about Bitcoin? His wealth says absolutely nothing to me. On top of that, he has no right to talk about him thinking that Bitcoin is going to implode. As things go now, it looks more like countries heavily depending on oil income that will at some point implode. It's obvious that all these traditional billionaires and investment gurus greatly overestimate their knowledge when it comes to Bitcoin. They fail to understand that Bitcoin is something completely different from all the things that we have seen go by in the last decades. Let him talk as much 'trash' as he want, because it's clear that it won't bring him anywhere.

bbc.reporter
Hero Member
*****
Offline Offline

Activity: 1176
Merit: 553



View Profile
October 25, 2017, 12:24:01 AM
 #9

With all the wealth he has, I think it doesn't make sense for him to criticized bitcoin. However, bitcoin is now very popular, every individual has its very opinion on it. hahahaha. Every one that you are going to interview has something to say about bitcoin. I hope you are not investing on it Price, otherwise you are just getting into the popularity and riding with it all along. We can understand Dimon's attack because he is a bankers, but you sir with your billions of pesos just sitting everywhere, doesn't makes sense to bash bitcoin at your level.

It does make sense for him to criticize it. If you did your research, you would know that the prince and Jaime Dimon are on the same side. JP Morgan will be doing the underwriting for the Saudi Aramco IPO.

You also do not have to take his words seriously. A person who compares bitcoin with Enron is not bright.

..bustadice..         ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
                    ▄▄███████▄▄
                  ▄███████████████▄
   ███████████  ▄████▀▀       ▀▀████▄
               ████▀      ██     ▀████
 ███████████  ████        ██       ████
             ████         ██        ████
███████████  ████     ▄▄▄▄██        ████
             ████     ▀▀▀▀▀▀        ████
 ███████████  ████                 ████
               ████▄             ▄████
   ███████████  ▀████▄▄       ▄▄████▀
                  ▀███████████████▀
                     ▀▀███████▀▀
          ▄██▄
           ████
            ██
            ▀▀
 ▄██████████████████████▄
██████▀▀██████████▀▀██████
█████    ████████    █████
█████▄  ▄████████▄  ▄█████
██████████████████████████
██████████████████████████
    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
    ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
       ████████████
......Play......
777Bitcoin
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
October 25, 2017, 07:36:47 AM
 #10

Al-Waleed went on to say:

    "It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

It was then that Al-Waleed – a Saudi royal family member who, as head of the Kingdom Holding Company, has an estimated net worth of more than $17 billion – said he agreed with Dimon, who issued the now-infamous remark last month that he believes that bitcoin "is a fraud."

https://www.coindesk.com/saudi-prince-al-waleed-bitcoin-going-implode/?utm_content=buffer6fa63&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I deleted JPMorgan CEO Jamie Dimon statement for it won’t make sense at all.

Does being a prince means in this generation? I don’t even care about they’re identity at all. They were born with money on they’re bed and not like most of us who worked for it since birth. “Bitcoin is a fraud” but the price is more or less 6000$ per bitcoin. Then they Dimon and the prince have one thing in common, they don’t have common sense.
CryptotradeGMO
Copper Member
Member
**
Offline Offline

Activity: 90
Merit: 10


View Profile
October 25, 2017, 07:42:12 AM
 #11

Same like Morgan
Say something bad that the price drops and then invest much money for cheaper Coins
Hexah
Sr. Member
****
Offline Offline

Activity: 728
Merit: 265



View Profile
October 25, 2017, 10:40:42 PM
 #12

Quote
"It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

And that ladies and gentlemen is the very reason why Bitcoin makes sense. It is precisely because it is not under any governmental agency that can easily do whatever it wants to do like printing more paper money to supposedly prop the economy while decreasing the future value of the fiat currency. It is not under the control of the government is the very reason why we have Bitcoin.

The guy was talking about Enron and its magnificent as well as unbelievable collapse many years ago. That company must be close to this guy's heart and mind because Enron was in the energy sector...most probably he has an investment in there and he lost much money that's why he purposely compare Bitcoin to Enron.

But there is just one question he should know: Was Enron not under the supervision of any government agency? Was Enron not a milking cow and its men became so corrupt?

It is absolutely because of these reasons that is why we have Bitcoin. Now, that is making sense.
That makes me laugh that he even adds up the very corrupt cult agency and never hesitate that it can be a laughable statement. Don't know if they are just blind because of much money they have got by now or they can't control bitcoin I supposed but I know bitcoin has good intention in the world today and in the coming future in the digital world.

And in the first place, if they just complain and complain or just criticizing bitcoin nothing would happen, I think if they would just cooperate many opportunities will be open in bitcoin.
I_Come_in_peaces
Newbie
*
Offline Offline

Activity: 5
Merit: 0


View Profile
October 26, 2017, 04:03:21 AM
 #13

More propaganda. anyone who believes otherwise is a farce and a fraud lol 
imsotiredofmoviereboots
Full Member
***
Offline Offline

Activity: 476
Merit: 100


View Profile
October 26, 2017, 06:54:02 AM
 #14

So Dimon just found an ally. I'm seeing a pattern here. It looks like filthy rich personalities doesn't want their fortune to be worth nothing because they know that cryptocurrency will turn fiats to no value once it takes over everything unless they will buy btc.
Slow death
Hero Member
*****
Offline Offline

Activity: 1260
Merit: 702



View Profile
October 26, 2017, 08:31:59 AM
 #15

I do not understand why some news sites waste time posting opinion of these guys, is as if these guys were the gods and needed their blessing.

Okay, I'll make some observations, looking at the political system from which this prince came, anyone realizes that the poor work long hours to feed the whims of this prince and according to this:

"
Early life and education

Al-Waleed was born in Jeddah on 7 March 1955 to Prince Talal and Mona Al Solh, daughter of Riad Al Solh (Lebanon's first prime minister). His father was Saudi Arabia’s finance minister during the early 1960s, before he went into exile due to his advocacy for political reform. Al-Waleed's grandmother was an Armenian, Munaiyir, whose family escaped the Armenian Genocide. She was presented by the emir of Unayza to Ibn Saud in 1921, when she was 12 years old and Ibn Saud was 45.

Al-Waleed's parents separated when he was seven, and he lived with his mother in Lebanon. As a boy, he ran away from home for a day or two at a time (sleeping in unlocked cars) before attending military school in Riyadh. Al-Waleed received a bachelor's degree in business administration from Menlo College in California in 1979, and a master's degree with honors in social science from Syracuse University in 1985.

Business career

Al-Waleed began his business career in 1979 after graduating from Menlo College. He returned to Saudi Arabia, which was in the midst of the 1974–85 oil boom. Operating from a small, pre-fabricated office in Riyadh, al-Waleed was successful in construction contracts and real estate. He was first profiled by Forbes in 1988.

After the end of the Saudi oil boom, al-Waleed acquired the underperforming United Saudi Commercial Bank. Through mergers with Saudi Cairo Bank and the Saudi American Bank, it became a leading Middle Eastern bank.

He bought a substantial tranche of shares in Citicorp in 1991, when the company was in crisis. From an initial investment of $550 million ($2.98 per share after adjustments for stock splits, acquisitions and spin-offs, according to Bloomberg calculations) to bail out Citibank's underperforming American real-estate and Latin American business-loan portfolios, his holdings in Citigroup grew to about $1 billion.

Time reported in 1997 that al-Waleed owned about five percent of News Corporation.[26] In 2010 his News Corporation stake was about seven percent ($3 billion). Three years later News Corporation had a $175 million (19-percent) investment in al-Waleed's Rotana Group, the Arab world's largest entertainment company. A review of his holdings implied that al-Waleed had sold his investment in AOL.

His stake in Citibank accounted for approximately half his wealth before the financial crisis of 2007–08. At the end of 1990 al-Waleed bought 4.9 percent of Citicorp’s common stock for $207 million ($12.46 per share), the maximum before he would be legally obliged to declare his investment. In February 1991 he spent $590 million on new preferred shares, convertible to common shares at $16 each. This, an additional 10 percent of Citicorp, brought al-Waleed's stake to 14.9 percent.

"

In 1999 The Economist expressed doubts about the source of his income, wondering if he was a front man for other Saudi investors:

He has not earned enough income from his investments to pay for all that he has spent in the 1990s. The mystery goes back to that first stake in Citicorp. The prince has declared that this money came entirely from his personal funds. He says he started out in 1979 with a loan of just $30,000 from his father. He also mortgaged a house that his father had given him, raising something like $400,000. And each month, as a grandson of Ibn Saud, he receives $15,000. You could barely clothe a Saudi prince for such sums, let alone furnish him with a multi-billion-dollar empire. Nevertheless, by 1991 Prince Alwaleed had felt able to risk an investment of $797m in Citicorp."  "

It was then that Al-Waleed – a Saudi royal family member who, as head of the Kingdom Holding Company, has an estimated net worth of more than $17 billion – said he agreed with Dimon, who issued the now-infamous remark last month that he believes that bitcoin "is a fraud."



Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!