[2018-08-28] Opinion: Why The “Wolf Of Wall Street’s” Bitcoin Bash Isn’t Valid

[AXELNetwork]

This guy made his name as being the "Wolf of Wall Street" for scamming investors with his penny stocks and he's spent the last few days calling Bitcoin a scam. So this article pushes back on his points:

https://www.newsbtc.com/2018/08/28/opinion-why-the-wolf-of-wall-streets-bitcoin-bash-isnt-valid/

[vy99]

The article makes some good points against Belfort. I just find it incredible that a guy who's known for being a financial criminal gets to have an opinion on what is or isn't a scam, and people are supposed to believe him even though he made a career out of being a liar.

[Kemarit]

This mofo has really nothing to offer. His argument is really flawed, he didn't do any research and it seems that he just wanted to ride the popularity of bitcoin and be somewhat relevant. If I'm that guy, I will suddenly made a U-turn and admit my mistakes, and perhaps he can be the next John McAfee,  . Seriously, it looks like no one is listening to this guy, we all know he is a scammer so I hope that no one will take him seriously.

[stomachgrowls]

This mofo has really nothing to offer. His argument is really flawed, he didn't do any research and it seems that he just wanted to ride the popularity of bitcoin and be somewhat relevant. If I'm that guy, I will suddenly made a U-turn and admit my mistakes, and perhaps he can be the next John McAfee,  . Seriously, it looks like no one is listening to this guy, we all know he is a scammer so I hope that no one will take him seriously.

Once you have that title of being a scammer then theres no doubt that the word trust isnt really suited for people to believe into those words he do said.This guy is just simply go with the flow and we have seen lots of similar lines came from other popular person but anytime they do tell negative against bitcoin or crypto then the entire community will really be against you.

[darkangel11]

The only reason people are listening to him is his reputation as a scammer. There's this common knowledge that a con artist has to know a thing or two about cons, but it's not like that. There's a huge difference between scamming someone on stocks and for instance counterfeiting bills. He has no clue about BTC and the technology behind it and he's not an authority in this area or any other besides scamming. And Wall Street scamming specifically. BTC has not much in common with Wall Street.

[DooMAD]

The only reason people are listening to him is his reputation as a scammer. There's this common knowledge that a con artist has to know a thing or two about cons, but it's not like that. There's a huge difference between scamming someone on stocks and for instance counterfeiting bills. He has no clue about BTC and the technology behind it and he's not an authority in this area or any other besides scamming. And Wall Street scamming specifically. BTC has not much in common with Wall Street.

Indeed.  He should bash ETFs and worthless ICOs as those are more closely related to Wall Street behaviour.  It's the flaws of the institutional investors and their broken and corrupt system which we've remedied in Bitcoin.  ETFs and crapcoins are just repeating the mistakes of the past.

[squatter]

The article makes some good points against Belfort. I just find it incredible that a guy who's known for being a financial criminal gets to have an opinion on what is or isn't a scam, and people are supposed to believe him even though he made a career out of being a liar.

I think a lot of people don't realize what he did or where the name came from. His nickname is just a household name because they made a blockbuster movie about his story. I never saw it myself, but cuts from the film always made him look more like a business-savvy shark than a scammer.

But that's why he gets invited on CNBC and other networks -- not because he has a clue what he's talking about, but because people are sheep and are enamored with Hollywood and other social authorities.

[vy99]

The article makes some good points against Belfort. I just find it incredible that a guy who's known for being a financial criminal gets to have an opinion on what is or isn't a scam, and people are supposed to believe him even though he made a career out of being a liar.

I think a lot of people don't realize what he did or where the name came from. His nickname is just a household name because they made a blockbuster movie about his story. I never saw it myself, but cuts from the film always made him look more like a business-savvy shark than a scammer.

No the movie pretty clearly shows what a scammer and liar he is, which is the funny part. Anyone that's seen the movie would run away from anything Jordan Belfort has to say.

[BitHodler]

Anyone that's seen the movie would run away from anything Jordan Belfort has to say.

That's what should be happening, but I actually had someone refer to him months ago where that person was expecting me to refute his points. If people really believed he was a no-no, the media wouldn't ask for his opinion.

Most of the average joes don't even know what he actually did before he was idolized in movies and documentaries. He managed to build up a brand of himself and use it to sell books and become a globally popular speaker.

Good thing is that with how crypto in general becomes more mainstream, people will have a better understanding of what it actually means and how much fud these former scammers are spreading to cause panic amongst noobs.

[vy99]

Anyone that's seen the movie would run away from anything Jordan Belfort has to say.

That's what should be happening, but I actually had someone refer to him months ago where that person was expecting me to refute his points. If people really believed he was a no-no, the media wouldn't ask for his opinion.

Most of the average joes don't even know what he actually did before he was idolized in movies and documentaries. He managed to build up a brand of himself and use it to sell books and become a globally popular speaker.

Good thing is that with how crypto in general becomes more mainstream, people will have a better understanding of what it actually means and how much fud these former scammers are spreading to cause panic amongst noobs.

It's pretty sad that the media is giving this guy some sort of credibility. Before the movie came out he was a disgraced trader and a fraud, but now people are actually considering him an expert on these topics! Instead of the movie exposing him for what he is it's now made him rich because the media is putting his face everywhere.

[kevoh]

I fail to understand why those that keep are against Bitcoin always give using it to launder money as a reason. This particular point irks me a lot because all forms of money is/can be used to launder money why is Mr. Belfort now singling Bitcoin as the only culprit?

[AXELNetwork]

I fail to understand why those that keep are against Bitcoin always give using it to launder money as a reason. This particular point irks me a lot because all forms of money is/can be used to launder money why is Mr. Belfort now singling Bitcoin as the only culprit?

It's low-hanging fruit. An easy target that people will believe even though it's been proven that other investments like real estate are used for money laundering more than Bitcoin.

[squatter]

The article makes some good points against Belfort. I just find it incredible that a guy who's known for being a financial criminal gets to have an opinion on what is or isn't a scam, and people are supposed to believe him even though he made a career out of being a liar.

I think a lot of people don't realize what he did or where the name came from. His nickname is just a household name because they made a blockbuster movie about his story. I never saw it myself, but cuts from the film always made him look more like a business-savvy shark than a scammer.

No the movie pretty clearly shows what a scammer and liar he is, which is the funny part. Anyone that's seen the movie would run away from anything Jordan Belfort has to say.

That’s the point. I think far more people have heard of the “Wolf of Wall Street” or “Jordan Belfort” and therefore would lend him credence on CNBC than have actually seen the movie. I haven’t seen the movie, and didn’t really know or care about the plot. But I’ve been hearing his name for years. That has a psychological effect that the news media tries to exploit.