Bitcoin Just a Shady ‘Ponzi Scheme,’ Rants Goldbug Peter Schiff

[Beerwizzard]

As you can see on the link below, another CEO of the another big advisory firm is saying that Bitcoin is nothing more but a big scam. A couple of years ago similar words said by Morgan Stanley CEO caused a huge amount of FUD that started a big wave of panic selling. But now we may see that those things doesn't really have much influence on crypto market.
How do you think, maybe the crypto market will soon become big enough to get resistance to such kinds of FUD?


Source: https://www.ccn.com/bitcoin-just-a-shady-ponzi-scheme-rants-goldbug-peter-schiff

[fiulpro]

As you just wrote in your title
*Rants *

People rant when they desperately are trying to achieve something also at the same time they are not thinking with a stable emotional condition therefore I won't take his words seriously .

I have been in this business since it was starting to gain popularity and since that time it has supported me in a way that I cannot repay to be honest, the opportunities Bitcoin is providing to the general public is commendable.

I would write paragraphs about it but it doesn't need to prove to someone that it is worth more than banks and all , it's associated with general public in a more Integrated way , providing online jobs is something that it does unmatched as compared to anything else .
I love Bitcoins and so does millions , people like that drags it down for no good reason .

[mk4]

Peter Schiff has been throwing crap at bitcoin for years; and I think one of the main reasons being that Peter Schiff owns a gold company, SchiffGold. Hence he really had an incentive to crap on bitcoin, and at the same time, advertise gold when he is being given publicity by the media.

[xvids]

As you mentioned it had a huge effect in the past but look at the market right now ,
This kind of FUD doesn't affect the crypto investors anymore we have been immune to this kind of words,
If you have been in crypto for a long time then this kind of rant's wouldn't be new to you and you would just get over it easily and wouldn't mind it at all.

[Broly46]

He is just being a nice guy by calling bitcoin by the name, it is very childish behaviour to me, what can they do besides making a lot of noise and get some attention from the public? And I know all the no coiners are some of the best men in the world, they deserve a trophy for being good guy.

[traderethereum]

I am sure the crypto market will soon become big (we already bigger than before).
People will let them said anything because they don't know anything about bitcoin.
There is many people believe in bitcoin, and they can hold tight their bitcoin and don't want to get a trap by the negative news.
I guess he says that is because he is too late to buy bitcoin at a very low price, so he says like that to make panicking in the market.

[ralle14]

Investors know better than these people and it's unlikely for most investors to panic only because of what these people say about Bitcoin or Cryptocurrency. If their hate comment towards Bitcoin brings the price down they're still helping investors in some way since it creates time for people to buy more for less then it'll recover.

[Padawan007]

He just a attention seeker and not last one that said Bitcoin Is a ponzi scheme

[talkbitcoin]

the answer to topics of discussion such as these are always my sympathy with the authors who have lost a lot of money by making bad decisions in bitcoin market because they went against the tide and tried shorting what was rising.
and now, in loss, they are lashing out by calling bitcoin names such as Ponzi scheme and news sites keep publishing their nonsense...

[yoseph]

the answer to topics of discussion such as these are always my sympathy with the authors who have lost a lot of money by making bad decisions in bitcoin market because they went against the tide and tried shorting what was rising.
and now, in loss, they are lashing out by calling bitcoin names such as Ponzi scheme and news sites keep publishing their nonsense...

The let their greed take a better part of them and after they make stupid mistakes and lose their money, they come and rant saying all kinds of negative things regarding bitcoins. Most of them sadly invest in some ICO which later turns out to be a scam.

[Jating]

It will be a continues cycle. I mean who have seen those who invested in late 2017, who just FOMO and just lost a lot of money got burned and quit. But I believed that they are going back to the market in the last couple of days contributing to the massive spike.

But then again, we will see some noobs jumping again FOMO and irrational buyers. Those are susceptible to FUD and panics and push the sell button only to realise their mistakes. So the cycle continues, those who got burned became battle tested invested and speculators, but a new breed comes along and repeats the same mistakes again.

[davis196]

Obviously Peter Schiff can't distinguish bitcoin from the crypto HYIP scam sites,that use bitcoin as a currency to receive payments and to scam people.Anyway,this type of FUD is expected.We shouldn't pay attention and create forum threads for every FUD nonsense that get published somewhere on the internet.

[jakelyson]

Bitcoin has been labeled like that for the longest time. If it was 5 years ago, a statement like that could start a massive dump on bitcoin. But bitcoin has become more stable and stronger that those petty statements could do no or very little harm to bitcoin.

[CryptoBry]

As you can see on the link below, another CEO of the another big advisory firm is saying that Bitcoin is nothing more but a big scam. A couple of years ago similar words said by Morgan Stanley CEO caused a huge amount of FUD that started a big wave of panic selling. But now we may see that those things doesn't really have much influence on crypto market. How do you think, maybe the crypto market will soon become big enough to get resistance to such kinds of FUD?

One thing for sure, today the Bitcoin marketplace is not anymore affected by anyone no matter how powerful or famous saying that Bitcoin is just another big scam and that it will soon die a natural death -- or any similar statements for that matter. Bitcoin is here to stay and for now no power can stop much more a relatively unknown guy saying something against Bitcoin probably for the main reason of getting media mileage. I think we are already out of the woods for this kind of FUD. Bitcoin ignored the big hack in Binance and it will continue to ignore any misguided statements from anyone out there.

[Haunebu]

As you can see on the link below, another CEO of the another big advisory firm is saying that Bitcoin is nothing more but a big scam. A couple of years ago similar words said by Morgan Stanley CEO caused a huge amount of FUD that started a big wave of panic selling. But now we may see that those things doesn't really have much influence on crypto market. How do you think, maybe the crypto market will soon become big enough to get resistance to such kinds of FUD?

One thing for sure, today the Bitcoin marketplace is not anymore affected by anyone no matter how powerful or famous saying that Bitcoin is just another big scam and that it will soon die a natural death -- or any similar statements for that matter. Bitcoin is here to stay and for now no power can stop much more a relatively unknown guy saying something against Bitcoin probably for the main reason of getting media mileage. I think we are already out of the woods for this kind of FUD. Bitcoin ignored the big hack in Binance and it will continue to ignore any misguided statements from anyone out there.

I wouldn't say that BTC cannot be affected by any powerful person since it certainly can, but it has grown resistant to such FUD over time which is great for the crypto ecosystem overall in my opinion.

[Genemind]

We all have our own belief and understanding about Bitcoin but I don't know where his rant's coming from.
Maybe he has failed or just doesn't like cryptocurrency.
He's obviously comparing it to Bitcoin which we already know the answer.
However, this kind of right has no negative effect on Bitcoin but rather making it stronger.

[Ailmand]

What he has to say doesn't matter. There are a lot of naysayers who doesn't believe or support bitcoin. Let them be, once bitcoin is fully adapted and accepted as it how was planned and created by satoshi, does who doubted it will be left out. If you truly believe in bitcoin and cryptocurrency, just ignore those people who are spreading FUD.

[tomahawk9]

Bull market achieved - cue the "weekly random CEO trying to spread FUD about Bitcoin", like clockwork  

How do you think, maybe the crypto market will soon become big enough to get resistance to such kinds of FUD?

We've resisted FUD from way bigger public figures, but tbh, we've reached a point where the market no longer cares about such lame attempts at spreading FUD. Hell, the market doesn't even care about big negative news such as the Binance hack, so why would it react to some random gold loving idiot?  

[figmentofmyass]

what do you expect from a goldbug? they put all their hopes and dreams into a shiny rock despite the fact that the world is entering the digital age. they are the quintessential luddites of our time.

schiff trashing bitcoin is basically the polar opposite of grayscale's "drop gold for bitcoin" campaign. people on both sides obviously think gold and bitcoin are in direct competition. naturally, people on both sides are gonna shill their bags too!

[drumamat]

I have heard a hundred times that bitcoin is a Scam and a bubble from many famous and not so people.And the result?And in the end, everyone wants to buy bitcoin as quickly as possible!Today's price is all the same who dissolves FUD. The market is growing and turning green.