The Wolf of Wall St Thinks Jamie Dimon is Right - Okay Then...
The Wolf of Wall St Agrees with Dimon? Huh?
Jordan Belfort has come out and said he agrees with Jamie Dimon. Well, only to some extent it would seem. (Thanks for the clickbaity title Coin Desk!).
He is quoted as saying:
"I don't think it's a great model."
That quote taken on it's own sounds a bit dumb to me, but here's what else he had to say:
"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," he told the publication.
This is a bit more Interesting, I used to think this too if I'm honest. But not so much anymore. He further states:
"Sooner or later, a central bank or a consortium is going to issue their own cryptocurrency and that's what will take hold."
I think this is probably true, that governments will issue their own blockchain powered/upgraded currencies, I'm sure there was an article today or yesterday that mentioned Japan working on making it's own Crypto-Yen? (Maybe it was another country?) But that will still likely leave room for plenty of other currencies/tokens won't it? I mean, unless the Crypto-YEN is built on a foundation similar to that of Ethereum, they're not going to be putting Ethereum to bed any time soon.
"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 concluded.
That's a fair comment I feel, but I would've thought someone like Jordan, who used to have a very high tolerance for risk, might have been more in favor of something that is still (seemingly) out of left field for a lot people.
Meanwhile...
Another article from Coin Desk today, states that Mike Novogratz plans to make a lot of money from the Crypto-boom, even if it is a bubble:
"This is going to be the largest bubble of our lifetimes. Prices are going to get way ahead of where they should be. You can make a whole lot of money on the way up, and we plan on it."
I find that far more interesting. The interview he gave to Bloomberg is well worth a watch if you get a chance to check it out, he mentioned that in regards to the Dot-com bubble, that big bubbles are usually caused by life-changing technologies.
Something I think we all agree on in the cryptospace.
What do you think about Jordan's statement? Let me know in the comments!
Image taken from this article.
@futuristgear not sure why he is not showing optimistic in public, because he is probaly investing lots of money on crypto. Although its ok when he mentions it may vanish very fast and that it is risky, I think there is a lot of the advantages of blockchain and crypto they are not saying. What do you think. Just upvoted. @gold84
@futuristgear , thanks for your support! @gold84
He is not the most honest person & has not made the best decisions in the past so i am not going to listen to him lol even though he is probably fun to hang out with & could teach me some things about sales.
he's got sales game, posture game, stuff like that. but I'd avoid his advice when it came to 'what I should buy' lol; gotta know when he's teaching, and when he's peddling!
Exactly @topnetworkeral!
Interesting, but take note that guy made a fortune by trading penny stocks and FRAUD. The whole point of crypto is decentralization and while there probably will be national cryptos I don't believe they will ever be bigger than bitcoin.
Interesting, upvoted!
But bitcoins future is at stake, the community is split on SegWit2x.
Charlie Lee just said NO to SegWit2x
Good point! He's still a pretty smart dude, I remember watching one of his seminars a while ago. But it's interesting that he seems to be in favor of regulation.
I'm actually all for national cryptos at this point, mainly because I believe that will make decentralized exchanges easier to get funds in and out of. :-)
2X has been debated in my crypto group today, interesting stuff and probably a lot of back-and-forth to come just like when BCH came out.
Will give your post an upvote tomorrow, I'm running a little near 80% atm I think.
Regulation=middleman positions for financial services to charge you more fees
Haha! :-)
I actually wonder if a national crypto would be able to regulate without the middlemen? It probably could if it was set up right. (Unless we count smart contracts as middlemen too).
Very interesting that he is in favour of regulations. Isn't that against the whole point of crypto?
Decentralized exchanges are one of the best things that can happen to crypto, but even though national cryptos will come, I think we are a long way there yet.
Absolutely! I think it's interesting that someone who has been on the wrong side of regulators is in favor of regulation, but there we go! :-)
Agree with the second part too!
He's the same kind of Criminal, with a track record of shorting stocks in hopes of buying in at lower prices --- gotta know people's motives and agendas at all times!!
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