Wells Fargo calls bitcoin is a scam | Bitcointalksearch.org

VanKleiss

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Quote from: BabyMom on January 24, 2018, 04:34:09 AM

Speaking on CNBC yesterday, former chairman and CEO of Wells Fargo Bank Dick Kovacevich made the statement bitcoin a scam.

"I think it's a pyramid model, it does not make sense, I'm just amazed that bitcoins are not going down," he said on CNBC's "Squawk on the Street."

What do you think about this statement?

It is normal for a bankers to make that statement to protect their business because they are one of the sectors that is affected by crypto revolution. Their investors are slowly divert their investment to cryptocurrency and they are also affected in terms of transactions. Many shifted to cryptocurrency to avoid higher fee and efficiency.

First77

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Quote from: imapessimist on January 24, 2018, 04:46:11 AM

I think Banks are afraid of Bitcoin because it means less profit for them. And less chance of keeping people's money and paying them hardly any interest. So they get rich on their customers money. So if Bitcoin is a scam then they are bigger ones.

$1 to $20,000 in 8 years. Bitcoin users should be scared.

TooDumbForBitcoin

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"The blockchain is real," ~~CEO of JP Morgan Jamie Dimon~~ CEO of Wells Fargo added in the interview. "You can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people."

wells fargo simply make buys on this Grin

yana0901

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In kC monitor to take profit You can withdraw in any day within 2 days and if I do not withdraw the next week it goes into work automatically

bitorama

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from the birth of bitcoin, many people call it a scam, and the price goes like today. So keep independent thinking of bitcoin

cryptobluemoon

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mostly all financial institutions said bitcoin is scam bitcoin will continuously grow

Lancusters

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The fate of bitcoin is not defined. Everything depends on us. We got our hands a good tool to get financial freedom. But our greed and laziness can prevent this. Many users think that it is possible to do nothing and bitcoin will make them millionaires. Such actions can really turn the bitcoin bubble. The choice is up to each of us.

EMINeMxShOw

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Stupid statement of course!
How many times we heard about BTC is a bubble BTC is a scam?
They don't even know OR read OR study it but just barking lmfao Cheesy

Tharel

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I've also heard the news about it, as per Wells fargo CEO, he never called bitcoin a fraud or scam but just a pyramid scheme. he said it's like you’re betting somebody’s going to buy bitcoin so people do. As per him, these fundamentals makes no sense. Well, another well known CEO here who in the end will be a self confessed fan of bitcoin.

BORNEO82

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There are some banks that say bicoin as a scam, because bitcoin growth is very fast, and is considered a threat, because it is difficult to control and monitor, it may need rules governing it.

glaciercapital

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Quote from: Sadnu on January 26, 2018, 07:55:30 AM

So maybe the scams are called wells fargo because many have lost their trust because they were scams and lost money. Former Wells Fargo CEO called Bitcoin a pyramid scheme this week on CNBC’s Squawk on the Street. The timing of this talk from Wells Fargo former-CEO Dick Kovacevich ended up being ill-timed, as less than 24 hours later, the bank began to have an “issue” which drained customer accounts.

That's like VCR calling DVD a scam, lmao. Always keep in mind that it is in these bankers best interest to 'talk their book' and dismiss crypto. It just buys the banks more time collecting rent on the traditional system

Sadnu

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So maybe the scams are called wells fargo because many have lost their trust because they were scams and lost money. Former Wells Fargo CEO called Bitcoin a pyramid scheme this week on CNBC’s Squawk on the Street. The timing of this talk from Wells Fargo former-CEO Dick Kovacevich ended up being ill-timed, as less than 24 hours later, the bank began to have an “issue” which drained customer accounts.

roblccx

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Quote from: Denker on January 24, 2018, 04:44:37 AM

Quote from: BabyMom on January 24, 2018, 04:34:09 AM

Speaking on CNBC yesterday, former chairman and CEO of Wells Fargo Bank Dick Kovacevich made the statement bitcoin a scam.

"I think it's a pyramid model, it does not make sense, I'm just amazed that bitcoins are not going down," he said on CNBC's "Squawk on the Street."

What do you think about this statement?

It's a bank. So what do you expect.
Bitcoin is probably the biggest threat to them since they exist.
And they know this very well! So they will do anything to slow down it's further progress.
Bitcoin can't be stopped, if they like it or not. The glorious days of banks as we know them today are going to find an end sooner or later.

100% agree... Banks and Gov's are worried, it threatens there businesses and current financial models

zentdex

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You could definitely stalk his financial portfolio after he says that. Remember when another famous CEO have said the bitcoin is a fraud....What follows is that their customer ended up buying bitcoins because the price dramatically drop due to his statement. I think this is another strategy of those wealthy people who just want to jump in to bitcoin but can't jump in right ahead because the price is too high. That is why they creating a news that will be more advantageous to them. By the way, it is just my opinion. Wink

BitHodler

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Quote from: azguard on January 26, 2018, 06:26:31 AM

JP Morgan made same mistake last month, what is now we could expect one every month so that we cannot be bored.

It was not a mistake at all. It was a well planned and executed attempt to get the market to plummet by having Jamie Dimon abuse his position as CEO of the largest wall street bank.

I personally find it to be a combination of insider trading and market manipulation, so it would actually make sense to have him sued. I vaguely remember having read about certain people that were considering doing that.

I however don't think it will have any impact anyway. Bitcoin's lacking regulations offer these financial institutions enough freedom to do things like this. Even if so, the SEC should act accordingly in this case.

azguard

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Crypto-News.net: News from Crypto World

Another person is calling bitcoin scam then in few weeks he will say that he is wrong likr many before. This is something that is becoming boring to see that some person say something that will regret later. JP Morgan made same mistake last month, what is now we could expect one every month so that we cannot be bored.

cabron

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https://www.betcoin.ag

Its either the old man don't understand how cryptocurrency works or he wants to buy coins for himself. First it was Jaime Dimon and now Wells Fargo. The next person who would tell us bitcoin is fraud would be the people from stock market and forex where their traders move to crypto trading after they all manipulate the price action.

Xester

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Quote from: BabyMom on January 24, 2018, 04:34:09 AM

Speaking on CNBC yesterday, former chairman and CEO of Wells Fargo Bank Dick Kovacevich made the statement bitcoin a scam.

"I think it's a pyramid model, it does not make sense, I'm just amazed that bitcoins are not going down," he said on CNBC's "Squawk on the Street."

What do you think about this statement?

Well ofcourse it would not affect us considering that we know the truth. That bitcoin is not a scam us what he said. Maybe he did not know anything about bitcoin for him to say those things. Or maybe he is just bluffing so people will sell their bitcoins and he will buy many.

ClumsySmile45

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Quote from: BitcoinHodler on January 25, 2018, 08:42:23 AM

Quote from: BabyMom on January 24, 2018, 04:34:09 AM

....chairman and CEO .... Bank: .... "bitcoin a scam"....

this is all i can see from your statement. and that is enough to show you what i think!

who else is left? which bankster is going to call bitcoin scam, fraud, Ponzi, dead,... this time? and more importantly how much are they going to invest in bitcoin right after they said this?!!!

I think they are just using these claims as an escape rope to the dooming future of banking. LOL

BitcoinHodler

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HODLing is an art, not just a word...

Quote from: BabyMom on January 24, 2018, 04:34:09 AM

....chairman and CEO .... Bank: .... "bitcoin a scam"....

this is all i can see from your statement. and that is enough to show you what i think!

who else is left? which bankster is going to call bitcoin scam, fraud, Ponzi, dead,... this time? and more importantly how much are they going to invest in bitcoin right after they said this?!!!

Topic: Wells Fargo calls bitcoin is a scam (Read 412 times)