Jordan Belfort FUD or Legit Argument?

[alizay]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

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[alizay]

Im not sure if I can post the link here so I made a separate reply just in case.

here is the link to the video: https://www.cnbc.com/video/2018/08/27/jordan-belfort-the-sec-wont-get-involved-in-bitcoin.html

[ImHash]

He says that bitcoin going up so rapidly doesn't make any sense and that you could use bitcoin even if the price stays at $100.
He is no wolf of anything He is just a confused old scammer who's jealous that people can now easily do money laundering.

[reactorjuno]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

It's quite obvious western governments (and others too) will never allow an anonymous currency. That being said, Bitcoin is not anonymous, which makes me wonder if J. Belfort really has knowledge about Bitcoin, my guess is he does not.
A more interesting question I have though: why Bitcoin was allowed to exist from the very beginning, I mean why exchanging Bitcoin to fiat currencies was allowed in most parts of the world until recently (crypto ban in more and more places). This is strange and frankly counterintuitive.
I mean governments nowadays, especially knowing that we are still in a recession, do everything they can to chase taxes here and there, but they allowed taxless Bitcoin transactions for so many years.
Does not mean Bitcoin has no future, but it will be massively regulated soon or later.

[rumexx]

Let us wait to see what happens to his speculations. This type of hate speech is what has been happening since the beginning of the year 2018 to cryptocurrency world. The government wants to control bitcoins at all cost but killing bit coin is what i do not think they will do. I think the government will like to arm twist the project owners to centralized bitcoin.

[ImHash]

but they allowed taxless Bitcoin transactions for so many years.

It was never up to governments to allow/disallow something as decentralized as bitcoin, My take on the matter is that they can never stop bitcoin, They might be able to regulate the exchange of bitcoin for fiat currencies, But they can never stop bitcoin.

[reactorjuno]

but they allowed taxless Bitcoin transactions for so many years.

It was never up to governments to allow/disallow something as decentralized as bitcoin, My take on the matter is that they can never stop bitcoin, They might be able to regulate the exchange of bitcoin for fiat currencies, But they can never stop bitcoin.

Of course they can, what if a government decides that all banks cannot receive any bank transfer related to cryptocurrencies? Then you'll be forced to move to a different country, or at least open a bank account somewhere else. I am sure there will always be countries friendly towards Bitcoin (for obvious reasons), just like there are tax havens nowadays (look at Belize, or Bermudes...). My point was just to say that if some countries want to ban Bitcoin, they'll do without any remorse.

[Don Pedro Dinero]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money.

He is such a visionary... Bitcoin and cryptos have been at least tolerated (or legally recognized) in most developed countries for many years. Does he think dollar notes won’t be allowed because it is easy to launder money with them?

Of course they can, what if a government decides that all banks cannot receive any bank transfer related to cryptocurrencies? Then you'll be forced to move to a different country, or at least open a bank account somewhere else. I am sure there will always be countries friendly towards Bitcoin (for obvious reasons), just like there are tax havens nowadays (look at Belize, or Bermudes...). My point was just to say that if some countries want to ban Bitcoin, they'll do without any remorse.

That would be a major move but what we have seen is steps in the opposite direction and as you say, there will be other countries allowing bitcoin to fiat transfers, so I think there is a competition every day it is more difficult that we see such a move.

[reactorjuno]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money.

He is such a visionary... Bitcoin and cryptos have been at least tolerated (or legally recognized) in most developed countries for many years. Does he think dollar notes won’t be allowed because it is easy to launder money with them?

Of course they can, what if a government decides that all banks cannot receive any bank transfer related to cryptocurrencies? Then you'll be forced to move to a different country, or at least open a bank account somewhere else. I am sure there will always be countries friendly towards Bitcoin (for obvious reasons), just like there are tax havens nowadays (look at Belize, or Bermudes...). My point was just to say that if some countries want to ban Bitcoin, they'll do without any remorse.

That would be a major move but what we have seen is steps in the opposite direction and as you say, there will be other countries allowing bitcoin to fiat transfers, so I think there is a competition every day it is more difficult that we see such a move.

I agree, I was pushing the logic a bit far just to make my point  but never take anything for granted. Bitcoin susprised us a lot in recent years but it does not mean it will survive forever.

[batang_bitcoin]

Everything he said is just a FUD.

Remember what Jamie Dimon said before? and later on he ate his words and said to be bought bitcoin. On the side of the wolf of wall street, this isn't the first time that he said such things to bitcoin so we may not know if he's doing the same thing what Dimon did before.

[bobo012]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

He doesnt understand it a bit. He only knows how to take money from other people, not how to create legitimate money. In this case he is wrong and doesnt even understand what he is commenting.

[talkbitcoin]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

- bitcoin isn't anonymous
- people aren't laundering money using bitcoin. they do it using fiat
- bitcoin has been around for 9 years and it has being adopted all this time, nobody tried to "squash" it.
- and finally bitcoin is a decentralized currency that nobody can "squash", in fact it is designed in a way to resist any attempt.

[jzale]

I find Jordan Belfort's comment about SEC not gonna put their hands on Bitcoin has a sense. The government will never allow a digital currency to threaten their ways so I can understand that. That's also the reason why SEC has been rejecting the ETF so far. Though I wouldn't agree that they can phase out Bitcoin. Bitcoin has established a big community for a few years already.

[ricatop]

I think that this is one of the manipulations of which we have already seen very much

[alizay]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

- bitcoin isn't anonymous
- people aren't laundering money using bitcoin. they do it using fiat
- bitcoin has been around for 9 years and it has being adopted all this time, nobody tried to "squash" it.
- and finally bitcoin is a decentralized currency that nobody can "squash", in fact it is designed in a way to resist any attempt.

Yea I completely agree I wonder what this guy's real intention is behind this interview. I tend to agree with what some other people said spreading some fud so he can buy a dip maybe, or possibly he is just arrogant and like the attention and hear himself talk.

[Nick Abimanyu]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

Jordan Belfort is just an old wolf from Wallstreet. In order not to become a FUD we should ignore and not be exaggerated what he has said, we don't know who he works for?... personal or group ?... Maybe he's also an investor who hopes that the value of bitcoin will fall and he himself will buy as much as possible when the price's low.

[pitiflin]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

Jordon belfort maybe smart as hell, and he may also be right in the part where governments would never allow BTC to be a legal tender, but squashing BTC isn't gonna be easy. Even US$ is used for laundering currency. So you can't blame just bitcoin for being used for money laundering. There may be legit concerns but they aren't addressed well.

[pooya87]

I recently saw a video of Jordan Belfort (the wolf of wallstreet) talking about BTC he was pretty much totally against it saying he thinks the govn't will never allow an anonymous (even though btc isn't anon) global currency that makes it easy to launder money. He thinks the govn'ts will step in and squash btc.

Just curious what does the community think is this just FUD or is what he saying some legit concerns?

- bitcoin isn't anonymous
- people aren't laundering money using bitcoin. they do it using fiat
- bitcoin has been around for 9 years and it has being adopted all this time, nobody tried to "squash" it.
- and finally bitcoin is a decentralized currency that nobody can "squash", in fact it is designed in a way to resist any attempt.

Yea I completely agree I wonder what this guy's real intention is behind this interview. I tend to agree with what some other people said spreading some fud so he can buy a dip maybe, or possibly he is just arrogant and like the attention and hear himself talk.

there is a lot of these people out there trying to undermine bitcoin and attack it. they have a lot of different reasons, i don't know which reason this one has though but usually it is done to spread some FUD so they can buy bitcoin at a small discount but also sometimes it is because they feel threatened by bitcoin and see their whole livelihood is going to be under threat and they lose their foothold in the market because of bitcoin. for example PayPal has been scared for a while now.