Today I read an article by coindesk.com titled Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'
Oct 23, 2017

“Saudi Prince Al-Waleed bin Talal sharply criticized bitcoin during an appearance on CNBC today, saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud."

"I just don't believe in this bitcoin thing," Al-Waleed said, according to a transcript published by CNBC. "I think it's just going to implode one day. It's Enron in the making."

The Balls on this guy to call compare btc its complete opposite . I understand BTC could be difficult to explain to an old saudi oil baron but Its like he doesnt even know what Enron was. A company that sold futures on commodities and technologie that it didnt even have then cooked their books and offloaded debt so that shareholders where blinded to these practices. There are a few ICOs that do sound like potential Enrons of the future but Bitcoin is the exact opposite of this model and its transparency is what will prevent the future from potential fraud. These billionares are scared and threatened by the end of the petrol dollar it couldnt be more clear.

“When asked about the specific comparison between bitcoin and the infamous American energy company that fell apart in the early 2000s amid revelations of massive accounting fraud, Al-Waleed reiterated his position that he "just [doesn't] believe in bitcoin completely."

Al-Waleed went on to say:

"It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

It was then that Al-Waleed – a Saudi royal family member who, as head of the Kingdom Holding Company, has an estimated net worth of more than $17 billion – said he agreed with Dimon, who issued the now-infamous remark last month.”

Image via CBS/YouTube
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