So who is this guy Jordan Belfort? If you guys ever watched "The Wolf of Wall Street", he was played by Leonardo DiCaprio and it's one of my favorite Movies of all time.
He was guilty to fraud in 1999 and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam.
He was recently quoted that, "It's a Fraud.... I don't think it's a great model...."I'm not saying cryptocurrencies, there won't be one – there will be one – but there has to be some backing by some central governments out there."
Check out Jordan Belfort in an interview called "TheStreet" (play at 7:40 of the video).
I followed Jordan Belfort for almost two decades because his training "Straight Line Persuasio" about "Sales" is one of the best ones out there.
It was a very disappointing to me the answer he gave about Bitcoin because I am a huge fan of him and followed him for a very longtime. 🙇🏼
My observation to his answer was that he is just "playing the game" to avoid government problems again like he faced in the past. 🤣
What are your thoughts? A past "Fraudster" now saying Bitcoin is a Fraud... however I totally disagree with him.
Have an awesome Weekend Steemians! 💞
Follow My Steemit Journey: @STACKIN
Join The Steemit Superstars Facebook Group HERE
Charles Fuchs | 
Charles Fuchs | 
Stackin
Here is the answer
What are your thoughts? A past "Fraudster" now saying Bitcoin is a Fraud... however I totally disagree with him.
all i can say is that he is speaking logicaly but where is the Logic in bitcoin anyway?
the point is the logic is upgrading, and we need to upgrade our logic before being able to judge things, and until then Bitcoin is legit until it proof otherwise..
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🙇🏼 why Jordan Belfort? Why...... lame..
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Why you gotta bust out Zoolander 🤣
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lol
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He is buying bitcoin behind the scenes :)
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You are so right about that lol
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they always find a convenient way in. Even tho they fight it !!! 'em cats!!!!!
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Well, he reacted amatuerly regarding his opinions over Bitcoin. Everyone is trying to prove Bitcoin is a scam while they know it's potential. I love trading stocks and forex, although I follow Jordan Belfort's work.
Anyways, I love your work too @stackin. You rose pretty fast of steemit :) I respect your efforts and hard work.
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FOLLOW
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Totally agree, I’m going to Jordan Belfort facebook profile and give him a peice if my mind 🤣
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Go get him boo! I dont agree with him either and honestly, he just didnt feel right.
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Next fud article: MSM prison interview with Bernie Madoff: "I don't like this. WTH is this crazy PoW/PoS? Cryptographically secure, decentralized, tamper-proof networks?? Nonsense! It will never be allowed. "
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Well then.. That changes absolutely nothing to my mindset on Steemit ;)
HODL + FULL STEEM AHEAD!!!!
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💪🏼🙌🏼💯
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He's getting some candy from somewhere -- or he's just an idiot. Their all just doing a reverse fake, a dump n pump. If JPM wasn't partially responsible for that $1,000 bounce after Jamie D knocked it, then i'm a monkey's uncle.
Buy moar! Hodl it!
rinse & repeat
...is my advice
Cheers! from @thedamus
✨✨🤘😎✨✨
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Well...takes one to know one!
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Dude is probably “STACKIN” tons of bitcoins now 😎🤣
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I have recently watched a news regarding block chain, (that's the only time I understood what the the block chain does). On that news it explained how the block chain works and how it will change the future of data storage and access.
The best analogy that they used which I like pretty much is "think of Ubber, Ubber is the middle man, a passenger uses Ubber to get a taxi, the taxi driver and passenger had transactions and Ubber get a percentage of that, On the block chain middle man is cut out, taxi driver and passenger do transaction on block chain thus cutting the middle man resulting in cheaper fare."
People who are saying cryptocurrency and the block chain is a fraud have their interest somewhere else and they are deeply invested in it that is why they will try to eliminate or damage any thing that will affect their interest or investment.
Just my thoughts
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'Disintermediation' is what you are explaining; the removal of intermediaries. Its one of the most overlooked qualities of blockchain and cryptocurrency, and its a major factor in the viability and value. Everyone talks about decentralization, and thats important, but disintermediation is what makes building a block-chain project worthwhile.
The reason crypto-currency is so valuable, is that the traditional banking system is horribly overloaded with intermediaries, and each intermediary needs to get paid. Who pays? You do.
So lets say in the fiat world I want to send you some money, if we both bank with the same bank, I ask the bank to move some money from me to you, thats simple; 1 intermediary.
But if you have a different bank, well then I have to ask my bank to pass money to your bank; 2 intermediaries.
But if my bank and your bank dont have accounts with each other, then they need another counterpart bank who does have accounts with both banks to facilitate; 3 intermediaries.
To make that happen quickly, each bank doesnt make every transfer as they occur, they wait til the end of the day and settle net amounts, but for security reasons this needs the central bank to become involved; 4 intermediaries.
Bear in mind, this 4 intermediary scenario, assumes we both have bank accounts in the same nation/currency, if we start getting international, then it gets a lot worse.
Crypto-currency removes all this clutter, and uses peer2peer, basically 0 intermediaries, but as you pay a transaction fee, lets be charitable and call it 1 intermediary.
Whenever I look at the long term viability of a block-chain project, its worth noting if it reduces the number of intermediaries as one success dimension.
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Thank you very much for this explanation. I now clearly understand the usefulness of the block chain. I really never had a clue before.
Much appreciated.
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Takes a wolf 🐺 to know where the wolves hunt.
The super crazy last 12 months in crypto has brought the wolves out to fleece the lambs of their lambos.
Saying that I don't think he really understands what crypto is and how it's going to change everything
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I pray it changes my life. i am all in. and very excited.
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lol, I totally disagree with the idea that a crypto needs to be backed by a government to be successful. The opposite is about to be true. A government will need to be backed by a crypto to be successful.
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no he didn't! WHAT!?! Calling bitcoin a fraud. HMPH
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It was very disappointing 🤣
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It's pretty mind-blowing how widespread lack of understanding of crypto is. Then again, the technologies and concepts they are founded on are not the easiest to understand at first.
Wasn't familiar with Jordan Belfort, but he comes off as either not that educated on crypto, or maybe just trying to avoid trouble with the authorities by promoting it too heavily. Or he could be trying to keep the price down to buy more himself lol. He seemed really uncomfortable with the question lmao!
I think lots of people feel uneasy when it comes to the whole crypto space, because we fear what we don't understand, right? Not all of us are willing to be risk takers and blaze trails. But those who are will reap the benefits if the ship sails! Keep on @stackin my friend... more and more folks will get on board eventually ;)
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Just the mention of it around my community seems to drive fear and panic. I have only run into 3 people that knew what i was talking about. other comments amaze me.
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i don't think the lying media gave Belfort a fair statement. He never siad it was a fraud he like the media stated he siad “I don’t think that it is a great model.”
He went on to state that "cryptocurrencies will gain a place in society, if or when they’re backed by a central government".
He added:
"The biggest problem I see with bitcoin – why I would never buy it – is that they could steal them from you. They hack into your phone…I know people who lost all their money like that."
So to sum it up I just don't think he understands bitcoin or crypto and he is a little uneasy they might be stolen easily. But the lying media posts a huge banner about him saying bitcoin was a fraud which I totally disagree that he meant it that way.
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The media is a darn mess. they scream opinion as news and omit facts that the public need entirely.
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Now that is a true statement.
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You could be right .. he could be playing nice guy and avoid controversy as he did in the past .. or he could be pulling a quick one here !!!!
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wallstreet is the fraud.
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smoke and mirrors.
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Thanks You! 🙌🏼🙌🏼🙌🏼
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could not agree more 8===D--- Jamie Dimon
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Isn't a Mr. Fraud calling something fraud making it totally legit? Just saying... :)
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Thats like two double negatives make a positive.
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Loads of people claim that bitcoin is a fraud just let them think that, they will feel sorry in a while, they wish they got on it from the start... I bet he already has his share of bitcoin...you know...a wolf in sheepsclothes
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Jordan is master of tonalities not investments, he was great at screwing people by using his voice!
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Hey @stackin ! Great post. This guy is wrong. I think you are right about him just playing the game. Crypto is a new way of thinking for most people. They need to wrap their heads around cryptocurrency. We don't need government. We need freedom! Have a great day!
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That was an interesting interview, i've never really heard him talk before.
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We totally agree with you- guess too he is buying btc behind the stage ;-)
Full 100% and resteemed :-)
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Maybe he has just not enough info about bitcoin, that's why he talk like this..
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Calling bitcoin a fraud is a good way to get some publicity these days. That is what it amounts to. Belfort is just looking to get his name in the headlines again. It is good business. I bet he sells a ton of training programs because of this.
As for Bitcoin itself, it isnt a fraud. There is no way something that will be accepted by 250,000 places in Japan is a fraud. Houses are being bought with bitcoin.
I could see someone saying it is overpriced but that doesnt get headlines. Words like fraud, ponzi scheme, etc... are what get the publicity. A guy like Belfort is a media whore...looking to move more product.
Thanks for the post.
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interesting to hear what he has to say, thanks for sharing this. also
have you seen the big short?🎥
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Well..... like you I really love that movie but it's hard to expect the average man to understand Bitcoin and even though he isn't the average man I still think he needs to be given a little benefit of the doubt. We deal with cryptocurrency all day so we understand it better than most.
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Suppose Jordan Belfort want a piece of the bitcoin action, but wants to buy in as low as possible.
What would he say about bitcoin?
That it's a fraud, of course!
Mark my words, he's buyin in as I'm typing this comment right now.
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I totally beleive that, he’s buying behind the scenes 😭😂🤣
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It's a known tactic. Jamie Dilon did the same while JPMorgan was buying in. If this tactic is applied to talk down a company's stock value, it's considered illegal and the victimized company would take legal action.
However, nobody 'owns' the Bitcoin system, there is no central management, so there is no one to take steps against these guys market manipulations.
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To me it shows the true value of Bitcoin. It also exposes the character of Jp Morgan. And makes me wonder is there another need for a bailout in the making?
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folling jp morgans lead hott mess.
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Stackin that cash @stackin
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More like STACKIN wealth 😬😂
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He simply seems to be quite misinformed. He is right though about banks backing one(or more). That's inevitable.
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I think he is just protecting his own ass and don't want to relate in speculative investments, he wants to stay out of jail lol
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Hah, yeah, that can be too.
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It is easy for anyone to say anything is a scam. They can say property tax is a scam, food production is a scam, fuel costs are a scam.....etc...etc.....
The line can be very blurry but honestly I don't care who really says it is a fraud or a scam or a ponzi. They don't actually know what they are looking at.
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Only think they are doing is marketing cryptocurrencies by making negative statements regards to cryptocurrencies.
Most of them are big players in cryptocurrency world.
Cheers!
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I think people struggle with cryptocurrency in general. It will take some time for them to accept it, invest in it, and they will wish they had accepted it earlier. You are just ahead of the crew!
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The retard of wall street from now on.
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Ouch man 😂🤣
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Yeah im sure he has to walk a fine line due to his past. I would assume he gives a different answer behind closed doors.
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Now you got me interested...I loved the movie and never would have thought this guy has anything positive to offer!
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He is still one of my mentors haha
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F#$k him. That's all I got to say. He's just upset his blow hole got banged open in prison lol Short post today my friend.. where's the emotis? Lol Have a great weekend boss!
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While I get that high yield instruments and ICO's can be fraudulent in some cases (I wrote about the tax aspect of it recently), how can Bitcoin be fraud? No one person owns all of Bitcoin and the purpose of Bitcoin is made clear for all? Bitcoin is much different than the penny stocks where fraudsters will deceive about the underlying prospects of a company, to entice people to acquire the stock. Note, I am not a legal expert, this is just my personal opinion.
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Yes an open mind. investigate and do your own experiments to find out. i like you.
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i agree ico's are tricky but bitcoin is sound just new technology .
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Nice my friend and i like post you @stackin
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The real fraud is Wall Street and this printed shit called money !! Plus the biggest fraud is the fed !!!!
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everyday all day. and you know this man!!!!
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He only believes that it is a fraud due to the information he has been shown/read. I'm confident, if he met up with @stackin for a one-on-one discussion, his mind would be changed/blown.
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I would sell him the idea that cryptos is king these days lol
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Dont go by what you read instead research for yourself.
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Trust me I'm as fraudulent as they come, I know frauds, this is a total fraud....
Sounds about right. Let's learn more about crypto from dinosaurs trapped in the past.
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Ha ha :)
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lol you are as fraudulent as they come. smh. what are you invested in with your fraudulent proof. drop a receipt.
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I'm going all in on Buckskins. I feel the fur trade is coming back huge in 2018 after this whole bitcoin thing blows over.
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you are so funny. lol lol lol lol
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I am a believer that everyone is entitled to their opinion. Just back it up with evidence and fact. what of bitcoin have you explored and prove your findings of fraud?
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It would appear this JOKE sailed miles and miles over your head.
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Wolf In Sheep's Clothing
He sounds just like Jamie Dimon! But I think he's totally downplaying it in public just to stay on the good side with the authorities.
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one in the light another in the dark he is invested in bitcoin. talking out of both sides of that neck.
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right on
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Jamie Dimon was also the biggest buyer once his false claims tanked the price of bitcoin which is now booming.
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He’s totally playing along.... hmmmm
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nice post thanks... Pls Vote :)
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He needs to lower the price to get in goood.
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all these guys do is dump the market and buy loads of BITCOIN
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He has Bitcoin. Hear what he said at 9:13 where he says, "I'm not saying that you should or shouldn't buy Bitcoin. What I'm saying, I personally, myself would be very, very careful about investing a lot of money that could vanish very quickly." So what I get from that is that he just has a little bit like only $200,000 or $300,000 in Bitcoin. You know something small like that.
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Every single Wall Street guy I've heard chime in on cryptos has said the same thing, and they've been saying it for a long time. Many of these guys I respect when they talk about what they know, but nobody's really very experienced in trading Bitcoin because it's so new. They have no idea what they're talking about. They've all been proven wrong over and over again.
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Bitcoin down ! i like it the your post, thanks
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This post has received a 6.81 % upvote from @booster thanks to: @stackin.
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Well I hope he's wrong. Frankly I'd have a hard time believing what he says given his colourful past no matter how brilliant. I enjoyed Wolf of Wall Street too. Thanks for the post.
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Well written. The dinosaurs need proof or they while die again. educate them so that they will learn invest and grow with the community.
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I wouldn't have expected that answer from him. Freekin wierd!
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Ya ya i dont believe this guy. The wolf never change his skin. He might be good at what he dose but integrty and honesty is not part of his game. BTC and Blockchain is all about empowering the ppl - peer to peer economy. And him promoting to us fear and to obey the system like true "minion". A cynic see fraud everwhere just because he have no values. They are suspicious to everything and everyone. Thank you for your article very imformative nice personal touch and presentation I like it. I will follow your steemit journey.
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Congratulations @stackin , we r much excited to know about it, wonderful job you have done.
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