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Author Topic: Soros is a crypto believer  (Read 131 times)
Lionel
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March 06, 2018, 10:45:04 PM
 #1

https://coinidol.com/george-soros-criticizes-bitcoin/

Soros bought a big share of Overstock which recently announced will change radically to become crypto-friendly.

Also,
Quote
Shares of Overstock went up over 200 percent in the last year after the company had announced plans to accept virtual coins in September.
not bad, huh?

Maybe he understood that every business that has to do with crypto is likely to make profit in the future , like Overstock did already.
 
IMO crypto is the future, and doesn't seem a bubble at all
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March 07, 2018, 01:20:25 AM
 #2

Crypto is the future, but I have mixed feelings about what this bubble might be for us. While I do agree that crypto is here to stay this "bubble" however is being discussed not because of that but because of the saturation that is present in the markets. If you look at the worthy projects there aren't many, but the ones that are worthy stand to remain like Google, Amazon, and Youtube. We will see which of these projects stands out to that degree, but I would imagine the percentage is less than 10%.

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March 07, 2018, 01:47:30 AM
Merited by krishnapramod (1), BitHodler (1), jseverson (1)
 #3

This quotation attributed to George Soros is interesting:

Quote
George Soros: “Currently [bitcoin] is used mostly for tax evasion and the … for the … people in the … the rulers in dictatorships to build a nest egg abroad. Recently, just now, there was a conference where instead of discussing conditions in Russia, they mainly discussed bitcoin because that’s what the rulers were interested in,” Mr Soros said at the forum.

This could indicate one aspect of how central bankers may be losing control over world leaders. Oftentimes bankers have maintained control over dictators by having their money stashed inside a tax haven. You can see it happen with dictators who have been deposed or overthrown. Billions of dollars disappear and no one can find where the money went. Example of this: I think more than $10 billion "disappeared" when Ferdinand Marcos fled the Philiippines.

Bankers operate and manage tax shelters for dictators and hold that money in trust, which could give them political leverage over many world leaders.

If what Soros said is true and world leaders are shifting their attention to bitcoin as a tax shelter, this could give banks less influence over them. It might also mean that dictators who hold their wealth in crypto will refuse to illegalize or pass restrictive regulation over crypto markets & exchanges.

One thing which could lend credibility to this view is Maduro and venezuela issuing its own petrol backed crypto currency. It is possible that Maduro's own wealth is denominated in bitcoin or some alt, which is part of the reason why he's shifting towards a pro crypto stance and investing so much time and effort into it. Wouldn't that be interesting?

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March 07, 2018, 02:07:49 AM
Merited by Hydrogen (1)
 #4

It is possible that Maduro's own wealth is denominated in bitcoin or some alt, which is part of the reason why he's shifting towards a pro crypto stance and investing so much time and effort into it. Wouldn't that be interesting?
That wouldn't surprise me at all, especially when you take into consideration that he might somehow also have calculated in the situation of him being taken out of his position at whatever later point in the future.

All his physical assets can and will be confiscated, all his wealth on bank accounts everywhere around the world can and will be confiscated, etc. The only thing that no one can take away from him, are his crypto assets.

Bitcoin doesn't only offer the regulars the freedom that they deserve, but also dictators. Bitcoin doesn't say no to anyone, which is why it's such a safe haven asset. Whatever Maduro's plan is, it's working.

I however don't think any exchange with moral standards should list coins tied to a dictator, especially not when they willingly let their entire country suffer financially, and starve their people as form of suppression.

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March 07, 2018, 02:38:27 AM
 #5

https://coinidol.com/george-soros-criticizes-bitcoin/

Soros bought a big share of Overstock which recently announced will change radically to become crypto-friendly.

Also,
Quote
Shares of Overstock went up over 200 percent in the last year after the company had announced plans to accept virtual coins in September.
not bad, huh?

Maybe he understood that every business that has to do with crypto is likely to make profit in the future , like Overstock did already.
 
IMO crypto is the future, and doesn't seem a bubble at all
Soros believe the typical bubble in cryptocurrency but still he invested in cryptocurrency. Ironic isn't it?
The point here is that no matter how the people neglect cryptocurrency, they are always take the opportunity to invest in crypto. I guess that he just made a criticism for cryptocurrency in order to pull out some people in buying crypto. Because if the value of cryptocurrencies will becomes low, he will take the opportunity to buy.

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fiulpro
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March 07, 2018, 03:03:52 AM
 #6

I think just like thieves other people are also understanding it slowly that how important cryptocurrency is now and if they are thinking of becoming crypto friendly then it's others rivals and friends will also look forward to ... Forward to do the same and that will increase the acceptance of cryptocurrencies and increase the price eventually.
That's a really good step and we can expect a boon soon.
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March 07, 2018, 05:08:00 AM
 #7

Honestly, it just me but I don’t value such statement from Mr. Soros or I don’t trust him for many reasons. If he believe in cryptocurrency then that’s good for him and he might make a change in crypto acceptance but we all know investors is here for being morally responsible but just anyone else for profit. It’s an open development that might be good nor bad whatever the intention is.

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March 07, 2018, 09:07:33 AM
Merited by Hydrogen (1)
 #8

This could indicate one aspect of how central bankers may be losing control over world leaders. Oftentimes bankers have maintained control over dictators by having their money stashed inside a tax haven. You can see it happen with dictators who have been deposed or overthrown. Billions of dollars disappear and no one can find where the money went. Example of this: I think more than $10 billion "disappeared" when Ferdinand Marcos fled the Philiippines.

This is actually a very interesting view. People get so caught up with privacy and painting people in power as the bad guys, that they forget that the powerful and influential can use crypto equally well -- or better, even, because they actually have money to move and shelter.

I don't necessarily agree that bankers are worried about losing control over dictators specifically; it's an obscure case and there are few of them in the modern world. This could be the case for pretty much every corrupt businessman or politician though, in addition to dictators, in which case, they should be worried. Turns out Bitcoin has more implications than I originally thought.

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March 07, 2018, 06:12:21 PM
 #9

https://coinidol.com/george-soros-criticizes-bitcoin/

Soros bought a big share of Overstock which recently announced will change radically to become crypto-friendly.

Also,
Quote
Shares of Overstock went up over 200 percent in the last year after the company had announced plans to accept virtual coins in September.
not bad, huh?

Maybe he understood that every business that has to do with crypto is likely to make profit in the future , like Overstock did already.
 
IMO crypto is the future, and doesn't seem a bubble at all

There is a mistake in article.

Stocks went up 200% after they said they plan to enter currency trading.
They accept BTC since 2013 already.

As for Soros stance, it's nothing wrong with his move he just follows the money trail.
Banks might hate bitcoin, but they are making a killing on all the fees from all the wire transfers sent to and from exchanges. It would be insane to believe that all the ICO that are popping every day are having crypto lovers behind and not a lot of hyenas

One thing which could lend credibility to this view is Maduro and venezuela issuing its own petrol backed crypto currency. It is possible that Maduro's own wealth is denominated in bitcoin or some alt, which is part of the reason why he's shifting towards a pro crypto stance and investing so much time and effort into it. Wouldn't that be interesting?

You're giving that moron way too much credit.
He has just found a way to raise money by selling dreams.
As nobody was eager to invest in his crumbling economy, somebody had the marvelous idea of a token.

That thing will go down worse than Prodeum, but the investors will actually get to feel it not just read it.

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March 07, 2018, 06:34:44 PM
 #10

We don't need concrete proofs to explain that bitcoin is not a bubble after all. It was already known to us that crypto currency are based on the advance algorithm like blockchain technology and that couldn't be bubble because being virtual it is actually real. The applications of which are real and that's why businesses like this are accepting them now a days so that they can evolve based on blockchain technology.

There is always perfect time and inevstment opportunity for few things in this world and crypto currencies are one of them who has bought best of the two worlds altogether with the help of bridging between them. So it has to be successful in the future too.


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March 08, 2018, 09:08:46 AM
 #11

I am worried that these big people, big speculators coming to crypto coin environment. I think they will take all the small investors money with FUD.
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March 08, 2018, 12:40:39 PM
 #12

https://coinidol.com/george-soros-criticizes-bitcoin/

Soros bought a big share of Overstock which recently announced will change radically to become crypto-friendly.

Also,
Quote
Shares of Overstock went up over 200 percent in the last year after the company had announced plans to accept virtual coins in September.
not bad, huh?

Maybe he understood that every business that has to do with crypto is likely to make profit in the future , like Overstock did already.
 
IMO crypto is the future, and doesn't seem a bubble at all
It can't ever become a bubble, as there's limited amount of Bitcoin and it has a difficult mining system, it's not that easy, as printing papers like in Ponzi scheme. Also, the price doesn't come out of nowhere, it is regulated strictly by demand.
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March 08, 2018, 05:51:45 PM
 #13

I don't know how to feel about this man somewhat endorsing cryptocurrency. Well, gonna go where the money is. Unfortunate that the very same "elite" we say we'd be able to escape are snagging up cryptos. We really just can't get rid of them.


This could indicate one aspect of how central bankers may be losing control over world leaders. Oftentimes bankers have maintained control over dictators by having their money stashed inside a tax haven. You can see it happen with dictators who have been deposed or overthrown. Billions of dollars disappear and no one can find where the money went. Example of this: I think more than $10 billion "disappeared" when Ferdinand Marcos fled the Philiippines.

Yeah, only a small portion of that amount has been recovered. These banks really make a killing doing these deals under the table.
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March 08, 2018, 05:58:58 PM
 #14

I am worried that these big people, big speculators coming to crypto coin environment. I think they will take all the small investors money with FUD.

In every market the weakest players will get eaten by the strongest ones, which isn't anything new. On top of that, now that crypto is gaining more traction, and believe of large entities who kept holding off in the previous years, they are now more comfortable to enter. At some point this entire market will be flooded with institutions and hedge funds trying to claim their share. I however have to point out that if they end up manipulating the market, you as trader can benefit from their actions as well -- you just need to spot the patterns hinting at manipulation. Crypto is no longer the 'fun' market that it ever was, people need to accept this for once....
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March 09, 2018, 07:42:18 AM
 #15

I am worried that these big people, big speculators coming to crypto coin environment. I think they will take all the small investors money with FUD.
Lol. Are they not doing that already ?
They have seen the space as a way to make more money and unfortunately those who are dumb enough are really falling for this. It is understandable that since it is an unregulated environment and a decentralized one, they may see it as a platform to do what they like.

Now that they are gradually getting in, I guess the manipulations we are seeing are just about getting started. Biggest manipulators ever! I really hope we are not heading back to those dark days with these guys in the picture.


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March 09, 2018, 07:57:36 AM
 #16

https://coinidol.com/george-soros-criticizes-bitcoin/

Soros bought a big share of Overstock which recently announced will change radically to become crypto-friendly.

Also,
Quote
Shares of Overstock went up over 200 percent in the last year after the company had announced plans to accept virtual coins in September.
not bad, huh?

Maybe he understood that every business that has to do with crypto is likely to make profit in the future , like Overstock did already.
 
IMO crypto is the future, and doesn't seem a bubble at all

Bitcoin is bubble, thats really old saying and big fortunes can never digest that it is not a bubble. The Soros already have the bitcoin payments and they have already become giant entrepreneur in the concern field. Any business that will enter into crypto currencies will automatically gain the popularity because the investors of same company might be crypto enthusiast and they might just become the strong point of focus for mouth to mouth publicity of their own firm. This way crypto gets noticed amongst the common people and also they do publicise the bitcoin itself. So you see the whole idea of increased market.

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March 09, 2018, 11:36:42 AM
 #17

Crypto is the future, but I have mixed feelings about what this bubble might be for us. While I do agree that crypto is here to stay this "bubble" however is being discussed not because of that but because of the saturation that is present in the markets. If you look at the worthy projects there aren't many, but the ones that are worthy stand to remain like Google, Amazon, and Youtube. We will see which of these projects stands out to that degree, but I would imagine the percentage is less than 10%.
It is normal to have some bubble now, which there is nothing anyone can do about that. It is a new market; a lot of people want to get greedy, the whales are making use of that to create a huge increase in price for nothing and dumping when the fomo increases a lot, only for some to get to see a retracement with a huge dump and then the cycle repeating itself again. Until the crypto space starts a real usefulness, and not just speculative assets, we will keep seeing stuffs like this.

High time ! Soros started understanding that there is nothing they can do about the existence of cryptocurrency. This is the future and those who can see the clear picture are already accepting that while some are busy denying it.

One thing for sure is that, we cannot force anyone not to believe what they do not want to believe but over time, they will get to understand what they have missed while some took the risk a while back and already enjoying what they are just about starting to enjoy.


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March 09, 2018, 12:19:56 PM
 #18

I do not think he sincerely believes in crypto, just does not want to stay away. Many of the old investors changed their mind only under the influence of rising

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March 09, 2018, 12:27:35 PM
 #19

https://coinidol.com/george-soros-criticizes-bitcoin/

Soros bought a big share of Overstock which recently announced will change radically to become crypto-friendly.

Also,
Quote
Shares of Overstock went up over 200 percent in the last year after the company had announced plans to accept virtual coins in September.
not bad, huh?

Maybe he understood that every business that has to do with crypto is likely to make profit in the future , like Overstock did already.
 
IMO crypto is the future, and doesn't seem a bubble at all
That is very cool. I respect this guy for all the charity he did. He helped so many people. I am currently waiting for a decision about the MA program I applied to at the university he founded. Of course, staying out of the crypto sphere doesn't seem to wise, since it is a good opportunity to raise one's funds. But it's not just that. Soros is in favour of the open society and cryptocurrencies try to make economical affairs open for any people. I think he might even be ideologically in favour as well.

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March 09, 2018, 12:50:40 PM
 #20

First of all who is Soros? What is his company? What is the nature of his company?

Anyway from the looks of your pinned post, I don't see that he is really genuine about his support on crypto.

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