Bitcoin Will Soon Be Dead, Says Wolf Of Wall Street

jordanbelfort
wolfofwallstreet

#1


via ethereum world news

Jordan Belfort, aka, the “Wolf of Wall Street” believes the demise of Bitcoin is imminent. Speaking via Facebook video, Belfort said Bitcoin’s price struggles in 2018 signal the beginning of the end for the top-ranked cryptocurrency. He advised “hodlers” to get out now before the inevitable crash. Despite his negative stance of BTC, Belfort declared that Blockchain, the technology behind BTC and other cryptos, held immense promise.

The End is Near for Bitcoin

According to Belfort, the multiple price dips experienced in June 2018 show that BCT is approaching its “final days.” The Wolf of Wall Street went on to say that a major crash that would decimate the perceived value of the crypto was imminent. Belfort also drew upon his past; his stock market manipulation indictment, to show why BTC is heading for disaster. According to him, the perceived value of Bitcoin fell into the category of “the greater fool theory.” He accused permabulls like John McAfee of deceiving the cryptocurrency community with false promises saying:

The only reason why they’re doing that is because they’re trying to get more suckers in. To create unrealistic price projections at ridiculous values.

Bitcoin Technology is Flawed

One prominent sticking point for Belfort is the fact Bitcoin’s technology is flawed. According to him:

Everything is wrong with it [BTC]. There’re too many fundamental flaws with it, and [the] bottom line is, get out if you don’t want to lose all your money.

Despite his negative sentiments toward BTC, Belfort acknowledged that blockchain technology held immense promise. He encouraged viewers to move their attention from BTC to blockchain technology, saying that there were a few cryptocurrencies that had real utility.

Belfort argued that Bitcoin held no real utility, saying that if BTC owned and licensed blockchain technology, then the situation would be entirely different. This isn’t the first time that Belfort has come hard against BTC and cryptocurrencies in general. In September 2017, he agreed with Jamie Dimon that BTC was a “fraud.” Belfort took things a step further the following month, calling ICOs “the biggest scam ever.”

Bitcoin Ownership is Likely to Increase

In a related development, a recent survey by Dutch banking behemoth, ING, shows that interest in BTC is likely to increase. According to the study, ten percent of Europeans currently own crypto. Also, a further 16 percent intend to acquire coins soon. The survey covered 15,000 respondents spread out over 13 different countries.

Such is the increasing popularity of the market that 15 percent of those surveyed said that they were open to being paid in BTC.

Do you agree with Jordan Belfort’s claim that Bitcoin’s end is near? Let us know your views in the comment section below. This statistic is incredibly profound given that cryptos are notoriously volatile. Commenting on the survey, Jessica Exton of ING said:

Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest.

Based on the results of ING’s latest survey, Belfort’s outburst might be nothing more than FUD. Time will tell whether Bitcoin will become the currency of the future, like Steve Wozniak and Jack Dorsey believe, or whether it will come to a bad end like Warren Buffett, Bill Gates, and all the other crypto critics believe.


#2

It’s actually hilarious how many times I’ve heard this. “Bitcoin will be dead” articles come out at least multiple times a year, mostly during down trends. Even five years from now this same tune will be sung.


#3

how much was this guy payed to say that? lol


#4

exactly. never do it for free… :stuck_out_tongue:


#5

Bitcoin crashes to 2$
Bitcoin will soon be dead

Bitcoin crashes to 10$
Bitcoin will soon be dead

Bitcoin crashes to 150$
Bitcoin will soon be dead

Bitcoin crashes to 1000$
Bitcoin will soon be dead

Bitcoin crashes to 6000$
Bitcoin will soon be dead

:thinking:


#6

The price of bitcoin is not an indicator of bitcoins life. The network will continue to operate, regardless of price. Fuckin n00b.


#7

Jordan Belfort, another fucking ignoramus opening his trap exhibiting his complete and utter ignorance. Fuck you Belfort!


#8

“Jordan Ross Belfort (/ˈbɛlfɔːrt/; born July 9, 1962) is an American author, motivational speaker, and former stockbroker. In 1999, he pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam. Belfort spent 22 months in prison as part of an agreement under which he gave testimony against numerous partners and subordinates in his fraud scheme.[5] He published the memoir The Wolf of Wall Street, which was adapted into a film and released in 2013.”

What a fucking douche bag this Jordan loser is.


#9

I guess 22 months were not enough :beetconnect:


#10

Ex-manipulator of stocks might know a thing or two about what the charts indicate, no? Just playing devil’s advocate.


#11

He probably bought in high and needs to buy more for his coke habits!?


#12

Wonder why he could not predict that he would get arrested?


#13

Trying to cause some fud so he can get on the train. he missed out on the cheap btc while he was in prison.


#14

Asking somebody like him that has no understanding of cryptos is like asking a hockey coach how to play football


#15

it’s screaming "GET OUT BEFORE I GET IN " :beetconnect:lol


#16

I don’t see what’s wrong with this. Key idea is that he likes blockchain technology and realizes the potential. All he’s saying is that myspace won’t be successful and that a facebook will.


#17

by that analogy, bitcoin being a protocol, is more like the internet itself than just a specific website or intra-net like AOL or myspace.


#18

It’s more like an outdated protocol e.g. the first slow internet protocol. That’s what he seems to be getting at.


#19

yet here we all are, still using TCP/IP…


#20

…most even are still using IPv4 with very litttle adoption of IPv6…witch was created in 1996, by the way…