Big Bang Bit News: Bitcoin is a Fraud?
Big Bang Bit News: Bitcoin is a Fraud?
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The so called "Wolf of the Wall Street" said Bitcoin is a Fraud! Jordan Belfort said that Dimon is right with his assertion that Bitcoin is a deception. He said to the news outlet "I don't think it's the right model."
That said, Belfort - is being claim in stock fraud and money laundering in 1999 and proceed in writing a book called "The Wolf of Wall Street" (and became a movie) - doesn't think cryptocurrencies wont exist in some form or another necessary.
"I'm not saying that cryptocurrencies, there won't be one - there will be one - but there has to be some backing by some central government out there," he told the publication.
And added:
"Sooner or later, a central bank or a consortium is going to issue their own cryptocurrency and that's what will take hold."
And his disapproval change into the cybersecurity risk in getting bitcoin, also the certainty that the code underlying the cryptocurrency, instead of any central authority or institution, commands the issuance of new coins in the system.
"I'm not saying you should or shouldn't buy bitcoin, but [what] I'm saying is I personally, myself, would be very, very careful about investing a lot of money in something that could vanish very quickly." He finishes.
In full details here:
https://www.coindesk.com/wolf-wall-street-jordan-belfort-jamie-dimon-right-bitcoin
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The reason there is bit coin and that it is successful is that, there's no regulations from the govt and any central banks. It's the people's money. The elite can just create their own coin or get into some coins and reinforce their influences. In saying that, a lot of alt coins are probably their own making wanting mass adoption. Check @ronmamita's posts.
Imma
Well as we all know government want to control everything they can used to get funds, and maybe other units of agency or.business feel threatened about cryptocurrencies. Maybe they are afraid that times really will come money is no used at all but crypto. Tnx for sharing @ronmamita's also. Steem on.