Bitcoin has a lot of lovers and a lot of haters as well. Unfortunately, Jordan Belfort(The Wolf of Wall Street) is one of the haters.
He recently dropped a 15 minute plus video ripping into Bitcoin and listing all of the reasons why it is going to fail.
Belfort claimed that he almost mined Bitcoin a very long time ago, and I feel like that he could just be very salty that he didn't jump on the bandwagon much earlier. He claims to have done lots of research on Bitcoin and cryptocurrency in general, and his main reasoning in thinking that it will fail is thinking that governments will ultimately regulate and ban Bitcoin back into the dirt.
Belfort claims that massive manipulation is the only thing keeping the market afloat right now, and he made many more asonine claims. He said that Bitcoin will go to zero, called it a ponzi scheme, and he was very emotional during his bashing of Bitcoin.
It would have been nice to get someone like this to back up Bitcoin, and he did say that he loved Blockchain technology.
It was refreshing to see someone bashing Bitcoin that actually had a modicum of information about it because most Bitcoin haters don't have the first clue about Blockchain or cryptocurrency. At least the Wolf of Wall Street knew a little something about what he was talking about, but I still think he is wildly wrong and salty that he didn't get in before. I also think that he might be shorting Bitcoin and trying to drive the price down further to increase his profits.
This is the same guy that has been in trouble for fraud and manipulation in the past, and it wouldn't surprise me one bit if that was his intention this time around.
One thing is for sure, we don't need the Wolf of Wall Street to help cryptocurrency succeed! HODL STRONG!
Here is a link to his video is you're interested in watching: https://www.facebook.com/jordanbelfort/videos/10156550326118465/
Stay High,
Bitcoin will never fail :) all the country if banned bitcoin but it will exist
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agree with you...
he is most probably shorting BTC...
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bitcoin will see many haters but bitcoin will rippp them apart
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I am ignorant when it comes to crypto, just looking into it when the bubble began a few months ago. As someone with little knowledge of crypto, but lots of experience with scams it was obvious to me that when Bitcoin rose like 400% so quickly it was being artificially driven there. I asked many people involved why it was worth so much more, and not one person had a cogent argument for it doing so, no matter how pro Bitcoin they were.
As one on the sidelines, I have watched the panic as the bubble burst, the major players who drove it up evidently cashing out is what it looked like. The rumors of regulations seeming to panic some, especially the talk when clarification on taxation in the U.S. came out and it was noted that Blockchain for Bitcoin is not as anonymous as many had assumed.
Another thing I have read is many coins are worthless, many using old ideas, smacking it onto a coin and calling it new. Because of this and so many other things like exchanges freezing peoples coins and not responding to help tickets, I do foresee a lot of negative press in the next year for certain. I will be curious to see how the market handles the many valid complaints/worries as the media (partners with the fiat manufacturers) stirs up the negative perception.
I believe in crypto from the little I know, this platform actually convincing me a week ago to become more than just someone who is studying it a little. I appreciate your acknowledgement of Belforts knowledge and not making it a hit piece on him despite your disagreement with his assessment. It gives you credibility for your future posts when I read them.
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