The Wolf of Wall Street says Bitcoin is a scam

There are :

1. noobs who thinks that this is a good investment
2. people who trade it, because who cares (your own morals)
   
3. people who don't trade it, because they care (your own morals)
4. cartels and other scum from the underworld, heavily invested in it
5. unknown major holders, who potentially manipulates media to pump it up
6. and fools who talks nonsenses

(6. ElCubano and gkishot, both on perma ignore for being one of those, just holes after holes in logic.)

People confuse blockchainTech with crypto currencies itself.
Blockchain is great, all of the shitcoins - not so, not-so.

If articles like this, can save a life savings of at least one noob (category #1 & yes, they will find other ways to blow out), then it's worth it. Beside, all of these category 6 folks jumps out to defend it, so it saves ones-future conversation time.
It's like having glasses, that insta shows the score number of cognitive ability, for each individual, when meeting them for the first time.
Wouldn't that be great.
How much time you could save. Like a basketball agent, who will look upon candidates, only of a certain height.
(while, it could be that some, fails to express their thoughts in a right way & in that case, it's a bad luck)

In the end, it absolutely falls upon your own morals, since, if you're supporting/trading something, that is partially owned by criminal organizations, that beheads buses full of students,
- you should give it a second thought.

,, But cmon, Nobert, you bring morals into - finances, - seriously ? You ain't that stupid, man. ''

 

...and in a superhuman feat, to this day never moved a single one.

 

He must be waiting for it to hit $1million, at which point he becomes a $Trillionaire.

 

Paul Tudor Jones got scammed by bitcoin? What a doofus. /s

 

He has fallen for the scam. Whether or not he loses money as a result of it is another matter.
There are always winner and losers in these ponzi schemes. Many of Bernie Madoffs customers made a profit as well.

 

There you go! You said it, Paul Tudor Jones got scammed by Bitcoin! I put a /s to show I was being sarcastic, but wow, you actually believe that, lmao

Dude, PTJ doesn't need to make money on scams and would not invest in scams, don't even try to justify that's the reason he invested in bitcoin, to participate in a scam and make money, you need to rethink what you're saying.

Has anyone checked the date of the YouTube video? OP is posting a YT video that is almost 2 years old.

 

Time will tell. If he makes a profit, good for him. Right now he is just talking his book. If BTC drops down to 4K and stays there for a few years, then yes. There are no infallible people in trading.

 

How do you define "fundamental reasons"? In today's world (and in the years to come) only two fundamentals seem to matter:

1) The huge and growing mountain of investable wealth in search of any kind of positive return.
2) Government committments to print unlimited currency to prop up market prices, thus effectively guaranteeing the value of traditional investment portfolios.

I've been in the same camp as you, and I still think cryptocurrencies are conceptually and practically ridiculous, as well as being a magnet for all kinds of scammers and con-artists. Nonetheless, I'm coming around to the view that given the infinite ocean of money which now exists in the world, and with nowhere left on the planet to earn a safe positive return, vast quantitites of cash will find its way to all kinds of hare-brained schemes and fringe investments - including the usual suspects like precious metals, property, art, and fine wines, but also crypto and other novel "digital assets".

For the first time I'm considering allocating some cash to crypto trading. An unfortunate side effect of permanent ZIRP/NIRP is that markets which consistently offered great trends and opportunities in past years, like bonds and FX majors, seem unlikely to do so in the coming years. As a trader I will need to replace this lost opportunity, and in general I want to be involved in the markets which will be seeing major inflows/outflows and action in the future.

 

One of the best investments is art. How different is that from Bitcoin lol. it colors on a piece of canvas. haha

 

I have been skeptical of bitcoin's long-term value for a variety of reasons which I won't go into. However, in this unique economic / financial environment that we're now in, I can't rule out more interest / demand for bitcoin, especially if people start to lose faith in governments and the current banking / monetary systems. The problem is most folks have a very black/white view of bitcoin rather than a more flexible view.