Jordan Belfort aka the wolf of wall street warning against Bitcoin


#42

Okay by changing “Bitcoin” for some scammy ICOs in some sentences, digging deep into what he could mean, reading between the lines, disregarding some things altogether and knowing he speaks to millennials, here are some lessons to be learnt from his talk:

  • find coins that have something to it, application or useful technology, instead of coins just being cryptocurrency and that being their only value. Most of the “hey, I’m a cryptocurrency, gimme money!” coins that are so popular right now will turn out to be a scam and can totally be illegal.

  • speaking of which, because the market is new, crazy, and largely not regulated in any way, there is a possibility that regulations that have to come eventually will have negative impact on the whole market, not only on scammers. In the process, in some countries what we know is good and healthy may become illegal/very hard to do as an effect of those regulations.

  • don’t invest money in cryptocurrency just to “get rich quick”, without thinking and researching. It’s a volatile market, and just jumping into it, without any knowledge, strong hands, may really end up badly. Trying to predict the price and earning money just on it is kind of similar to Forex trading and we all know that’s not the best place for inexperienced people. It also adds to the negative buzz around the blockchain technology, which is great concept.

  • the best (not the easiest) way to make the blockchain technology widely used and earn money off it is to make it popular and widely used, and market the technology, not the “big gainz no sweat now type of message!”


#43

@Alicja please change avatar.