"Avoid Bitcoin Like the Plague" - John Bogle, Warning shot from Wall St?

torwig

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C++/Golang Dev

Quote from: CryptoRage on December 01, 2017, 01:20:54 AM

As reported by Bloomberg, John Bogle, founder of the Vanguard Group (Managing $4.5 trillion in assets), said "Avoid bitcoin like the plague. Did I make myself clear? " and went on to say that nothing is supporting Bitcoin except the hope that you can sell it to someone for more than you paid.
....

Yes, I hope and I will sell it to someone for more than I paid.

salihno71

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Hehe, it's the sign of fear

Their big empire's foundations have started to shake and they all feel that they could lose their precious security and privileged status. So it's quite understandable that they are scared. I'm quite amused by their futile attempts against cryptocurrencies especially bitcoin.

eternalgloom

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Quote from: CryptoRage on December 01, 2017, 01:20:54 AM

While I don't believe cryptos can be killed, pressure from the banks/Wall St can curb mass adoption. What do you think will be the finance sectors move against crypto?

How so? Do they even have some credibility left with the public? Have people forgotten about the financial crisis and the cause of it?
Statements like this might have a temporary effect on the price, but it usually doesn't last too long these days.

The last 2 weeks alone I've received more questions about Bitcoin from friends and family members than ever before.
I do not receive questions when some CEO or Wallstreet investor makes a statement like this.

learner 7

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I believe that the statements of people who are motivated to mislead people should not be perceived. They use their influence to play with us, we do not have to believe that.

BitCoinKeeper

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Quote from: Pursuer on December 01, 2017, 02:51:07 AM

that is what I have been afraid of when I said involvement of Wall Street in bitcoin is bad. as you can see all of them are experienced enough to see that this market can be easily manipulated and even if they didn't know it already, they figured it out after JP Morgan spread the FUD and caused the crash and then they bought a huge amount of bitcoin at the bottom and make millions of dollars profit.

THEY ALL WANT IN NOW.

and this is just a start, we will see a lot of these types of bullshit, and each contradicting one another at different times according to bitcoin's movement. if it is rising they will start showing they are investing in it and start talking about how it will reach $1 million soon and when there is a correction they start talking about how bitcoin is fraud!
all the while weak hands panic sell to make them richer Cheesy

I know I’ve not been here long, but I’ve been invested for quite awhile, and I’ve told all who listen, even posted here that Wall Street being involved with Bitcoin is a very bad omen, because once Wall Street gets involved the Government soon follows. And that scares the h*ll out of me. Like someone said a long time ago,
“ I’m from the government, and I’m here to help “

jjacob

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★Nitrogensports.eu★

Quote from: CryptoRage on December 01, 2017, 01:20:54 AM

As reported by Bloomberg, John Bogle, founder of the Vanguard Group (Managing $4.5 trillion in assets), said "Avoid bitcoin like the plague. Did I make myself clear? " and went on to say that nothing is supporting Bitcoin except the hope that you can sell it to someone for more than you paid.

John Bogle is a god of Wall St and member of the Council of Foreign Relations. His comments, I think, are a warning to Wall St and the Finance Sector that the powers that be are not on board with Cryptocurrency and they are going to try to kill it.

While I don't believe cryptos can be killed, pressure from the banks/Wall St can curb mass adoption. What do you think will be the finance sectors move against crypto?

Bitcoin has clearly divided Wall Street. You have people like John Bogle and Jamie Dimon saying that Bitcoin is bound to collapse, while you have bulls like Novogratz as well. Others like Goldman who are on the fence. I don't think Wall Street has started lobbying on Bitcoin right now.

Pursuer

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Where is my ring of blades...

that is what I have been afraid of when I said involvement of Wall Street in bitcoin is bad. as you can see all of them are experienced enough to see that this market can be easily manipulated and even if they didn't know it already, they figured it out after JP Morgan spread the FUD and caused the crash and then they bought a huge amount of bitcoin at the bottom and make millions of dollars profit.

THEY ALL WANT IN NOW.

and this is just a start, we will see a lot of these types of bullshit, and each contradicting one another at different times according to bitcoin's movement. if it is rising they will start showing they are investing in it and start talking about how it will reach $1 million soon and when there is a correction they start talking about how bitcoin is fraud!
all the while weak hands panic sell to make them richer Cheesy

BitCoinKeeper

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Quote from: CryptoRage on December 01, 2017, 01:20:54 AM

As reported by Bloomberg, John Bogle, founder of the Vanguard Group (Managing $4.5 trillion in assets), said "Avoid bitcoin like the plague. Did I make myself clear? " and went on to say that nothing is supporting Bitcoin except the hope that you can sell it to someone for more than you paid.

John Bogle is a god of Wall St and member of the Council of Foreign Relations. His comments, I think, are a warning to Wall St and the Finance Sector that the powers that be are not on board with Cryptocurrency and they are going to try to kill it.

While I don't believe cryptos can be killed, pressure from the banks/Wall St can curb mass adoption. What do you think will be the finance sectors move against crypto?

Just like J.P. Morgan, make a grandstanding announcement against Bitcoin then turns right around an Buy fourth million dollars worth of Bitcoin. These Wales know exactly what they are doing, and so do we.

Samarkand

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Quote from: meer45 on December 01, 2017, 01:25:38 AM

Would you praise your competitor, if you thought they could eventually become a threat to you? Or would you try to nip them in the bud? It's no surprise to me that a "Wall Street God" tries to warn people against bitcoin.

I wholeheartedly agree with this statement.

This is especially true, because investing in an asset like Bitcoin is literally the opposite of buying Vanguard products. It is pretty
obvious that he is not impartial regarding Bitcoin when he is running one of the largest investment companies in the world.

Interestingly, BTC has outperformed every single product that was offered by Vanguard since its inception. Bogle may be right
that we will see a correction, but his overall critcism is simply irrelevant, because he is too biased.

Realist247

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Quote from: CryptoRage on December 01, 2017, 01:20:54 AM

As reported by Bloomberg, John Bogle, founder of the Vanguard Group (Managing $4.5 trillion in assets), said "Avoid bitcoin like the plague. Did I make myself clear? " and went on to say that nothing is supporting Bitcoin except the hope that you can sell it to someone for more than you paid.

John Bogle is a god of Wall St and member of the Council of Foreign Relations. His comments, I think, are a warning to Wall St and the Finance Sector that the powers that be are not on board with Cryptocurrency and they are going to try to kill it.

While I don't believe cryptos can be killed, pressure from the banks/Wall St can curb mass adoption. What do you think will be the finance sectors move against crypto?

This is why I'm waiting for short selling opportunities on the CME.

When someone like this (not a banker) issues a warning, people better pay attention. It's like the old saying goes...those with the true power must warn the sheep before the slaughter begins. It's their code. Bogle (and those like him) could have easily added cryptos to Vanguard funds but they won't touch it. Of course very few will listen like they didn't listen in '99 and then again a few years later. "This time is different" Roll Eyes

davis196

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Quote from: CryptoRage on December 01, 2017, 01:20:54 AM

As reported by Bloomberg, John Bogle, founder of the Vanguard Group (Managing $4.5 trillion in assets), said "Avoid bitcoin like the plague. Did I make myself clear? " and went on to say that nothing is supporting Bitcoin except the hope that you can sell it to someone for more than you paid.

John Bogle is a god of Wall St and member of the Council of Foreign Relations. His comments, I think, are a warning to Wall St and the Finance Sector that the powers that be are not on board with Cryptocurrency and they are going to try to kill it.

While I don't believe cryptos can be killed, pressure from the banks/Wall St can curb mass adoption. What do you think will be the finance sectors move against crypto?

Perhaps this FUD was the main reason for the bitcoin price to went down from 10800 USD to 9100 USD for about 24 hours.This guy is the new Jamie Dimon.Some big players in the financial world try to benefit from the cryptocurrencies by buying them.Other big players benefit from cryptos in a bad way,spreading FUD,manipulating the price and forcing all the newbies to panic sell and lose their small savings.

ogini

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What else do you expect from the wall St,do you expect support from bitcoin competitors off-cause not,expect them to look for ways to nail the market down.So do not be surprise with his speech it out of jealousy.

haroldtee

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I really do not expect anything different to come from those from the wall streets and I do not see how pressures from here can curb mass adoption. People are beginning to see the like of these guys as those seeing bitcoin and cryptocurrency at large as a threat and whatever that comes out of their mouth as claptraps. Bitcoin is getting stronger with more support and new investors everyday and that scares them as things will end up not being the same for them in the long run. Funny enough, Jamie, after spewing rubbish like this did not avoid bitcoin like plague... bunch of hypocrites!

meer45

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Would you praise your competitor, if you thought they could eventually become a threat to you? Or would you try to nip them in the bud? It's no surprise to me that a "Wall Street God" tries to warn people against bitcoin.

CryptoRage

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As reported by Bloomberg, John Bogle, founder of the Vanguard Group (Managing $4.5 trillion in assets), said "Avoid bitcoin like the plague. Did I make myself clear? " and went on to say that nothing is supporting Bitcoin except the hope that you can sell it to someone for more than you paid.

John Bogle is a god of Wall St and member of the Council of Foreign Relations. His comments, I think, are a warning to Wall St and the Finance Sector that the powers that be are not on board with Cryptocurrency and they are going to try to kill it.

While I don't believe cryptos can be killed, pressure from the banks/Wall St can curb mass adoption. What do you think will be the finance sectors move against crypto?

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