Topic: [2017-10-18]Bitcoin is a Bubble & Pyramid Scheme, Says Brazil Central Bank Chief (Read 245 times)

Jews are people who know all perspectives of new investment projects, so I think they were first people who moved on Bitcoin and other crypto-currencies 
And those words that you are saying about bankers are true. They all see danger in Bitcoin. But I used to not believe to politics, no doubt that they are investing in Bitcoin incognito to become even richer.

Yep, the ongoing 'clash' between old and new in the financial world. Prominent representatives in the banking world seem sort of intimidated by the rapid growth of crypto and openly take a stance against it, but they create more exposure for cryptocurrencies in the progress. Well, at least he didn't resort to personal attacks against BTC-users like that Jamie Dimon guy did.

Did you notice that banksters are the ones who always cry the loudest when bitcoin goes up? It's in their best interest to stop people from switching to a decentralized currency, which they can't control. Every week we have one of them issuing a warning and bashing BTC and BTC doesn't seem to care.
Their names are also fun: Goldman, Goldfajn... I bet these are of Jewish origin. If you want to distract a guy like that just ask him if if he fancied the last bilderberg meeting. I'm pretty sure he was invited.

The president of Brazil’s central bank has rebuked bitcoin, comparing the cryptocurrency to a pyramid scheme.

Brazilian central bank president Ilan Goldfajn has taken a dismissive stance against bitcoin and criticized the marked growth in the value of the cryptocurrency this year. Since the turn of 2017, the cryptocurrency has grown from $1,000 to its recent all-time high of $5,920.

According to the official, investors of bitcoin are only buying in to fuel its appreciation and are therefore contributing to a pyramid scheme. A typical pyramid scheme sees operators encourage investors to buy rope in new investors to fuel an unsustainable revenue stream reliant on new capital from investors.

He went on to add that “the central bank is not interested in bubbles or illicit payments” while stressing the need to “separate” bitcoin from other applications of blockchain, the cryptocurrency’s underlying decentralized technology.

The influential figure’s comments are notable at a time when the central bank is planning regulations for the cryptocurrency and FinTech sector at a time when Brazil is reeling from its worst recession ever following to political scandals and money mismanagement. Brazil has seen a notable rise in its appetite for bitcoin in recent years. One report by a Brazilian non-profit revealed that bitcoin trading among Brazilian cryptocurrency exchanges surpassed gold sport trading on Brazil’s securities exchange in the first half of 2016.

It is yet unknown if Goldfajn’s comments have a material impact on the upcoming regulations. Market observers have previously called Brazil’s central bank, the Banco Central do Brasil (BSB) – as the only governing body left to save [Brazil’s] economy.
Source: https://www.cryptocoinsnews.com/bitcoin-bubble-pyramid-scheme-says-brazil-central-bank-chief/