✴️ THE WOLF OF WALL STREET JORDAN BELFORT SAYS BITCOIN IS A FRAUD! WTH!! 💢
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! 💞
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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..
🙇🏼 why Jordan Belfort? Why...... lame..
Why you gotta bust out Zoolander 🤣
lol
He is buying bitcoin behind the scenes :)
You are so right about that lol
they always find a convenient way in. Even tho they fight it !!! 'em cats!!!!!
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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Totally agree, I’m going to Jordan Belfort facebook profile and give him a peice if my mind 🤣
Go get him boo! I dont agree with him either and honestly, he just didnt feel right.
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. "
Well then.. That changes absolutely nothing to my mindset on Steemit ;)
HODL + FULL STEEM AHEAD!!!!
💪🏼🙌🏼💯
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
✨✨🤘😎✨✨
Well...takes one to know one!
Dude is probably “STACKIN” tons of bitcoins now 😎🤣
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
'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.
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.
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
I pray it changes my life. i am all in. and very excited.
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.