Wells Fargo calls bitcoin is a scam - page 2.

ActiveWizard77

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Quote from: Ozero on January 24, 2018, 09:29:43 PM

Bitcoin can still be compared to a financial bubble, but not with a pyramid, and not with fraud. Fraud is when you seize your means by deceit or abuse of trust. Here, no one deceives anyone. Everything is very clearly and clearly arranged. Also in this case there is no pyramid. Subsequent investors do not pay for the previous ones. Here the market law is completely working - supply and demand.

The FRAUD is 100 wallets own 98% of bitcoins and 10 players control those 100 wallets.

It's like a poker game where the mark (public in this case) doesn't realize the other players are in complete control of the game.

Is there any hard evidence to support your claim? I guess its just a CONSPIRACY theory and it will remain to that.

SGMPhil

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It should be expected that the big banks are going to bitch, downplay, and try to question the legitimacy of cryptocurrencies as they perceive that cryptocurrencies are a threat the the existence of the legacy banking systems. Cryptocurrencies cut them out as middlemen and reduces their profits. it should be expected that they are going to go on the warpath and as crypto gains momentum I expect that we will see much more of this kind of thing. With BTC market cap approaching 2 billion USD, they are taking notice for sure.

Kingofbitcoin12345

full member

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It doesn’t make any sense that we make time to listen or even discussing a particular person that is obviously so attach to the banking system he work to or been biased about it.. It’s the same mindset with Jaime Dimon and Wells Fargo wanted a spotlight of his own.. Jealousy and selfishness is the real reason behind this statement and only God knows when this would stop because they themselves look terribly stupid..

boboking

member

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Of course he will tell that it is a scam they are affected by Bitcoin. If he really knows what he is talking about Block chain is really far from a pyramid scheme.

This billionaires are just hating on Bitcoin because their FIAT will soon be worthless.

Ozero

full member

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Bitcoin can still be compared to a financial bubble, but not with a pyramid, and not with fraud. Fraud is when you seize your means by deceit or abuse of trust. Here, no one deceives anyone. Everything is very clearly and clearly arranged. Also in this case there is no pyramid. Subsequent investors do not pay for the previous ones. Here the market law is completely working - supply and demand.

drm

legendary

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Merit: 1005

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?

Besides the fact that wells fargo = scam.
This guy is 74 years old, don't take advice about crypto from people who do not use and/or understand the underlying technology anyway.

BountyX

full member

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Well, as soon as you learn how banks are creating money just out of thin air EVERY TIME they give a loan, when you hear statements like this one you can't but start to laugh like crazy Cheesy

bitfocus

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Banks has no reason to talk in favor of Bitcoin, Bitcoin is the Bank Killer!

mikeprimia

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Quote from: maxj57634 on January 24, 2018, 05:22:39 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?

What can you expect from them, not much. All CEO of banks all over the world says the same thing over bitcoin. They are obviously against bitcoin ever since it caught the attention of people and investors. I just dont care what they say about bitcoin i still believe in it and will continue to invest and trade.

Yes mate i agree , obviously Bitcoin is the most dangerous enemy with banks so if you're a bitcoin-ers , don't you ever listen to CEO of global banks,they definitely will drag you down .

ActiveWizard77

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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?

Of course they won't agree with Bitcoin, the cryptocurrency is threatening them so the way it can be solved is to attack directly the reputation of the currency, its obvious they are BANKS and the competition is CRYPTO which is very popular right now.

Wulanayu

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He is a bank man of course he really does not like bitcoin because bitcoin is an enemy to them because they know in the presence of bitcoin and if bitcoin appears to the surface then many banks will close.
He talks like that because he does not know what a bitcoin actually he is just a layman who is not knowledgeable about crypto.

lienfaye

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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 he is a former CEO of Wells Fargo so its just normal for people like him to say such statements simply because they are against of the gaining popularity of bitcoin. They are seeing it as a threat due to some account holders are moving their savings to invest in crypto thinking it was better than let your money sleep in the bank.

Haters dont have any good to say for crypto so giving them attention is a waste of time.

Haiduongbg

newbie

Activity: 121

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Do you believe in scammers? Those bankers scam people, then when many collapsed in 2009 and governments used our tax money to rescue those filthy rich guys

SuperD007

member

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Treat People How You Would Like To Be Treated.

Well Fargo is part of the biggest scam of the century = The global banking system

maxj57634

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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?

What can you expect from them, not much. All CEO of banks all over the world says the same thing over bitcoin. They are obviously against bitcoin ever since it caught the attention of people and investors. I just dont care what they say about bitcoin i still believe in it and will continue to invest and trade.

CaptainKid

sr. member

Activity: 756

Merit: 250

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?

What can I say, how many people, so many opinions! No wonder, this is neither the first, nor the last bad news about bitcoin.
Capitalization and popularity of bitcoin, speaks for itself, so let them say they want;)

mikeprimia

member

Activity: 64

Merit: 10

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?

He's just another bitch who doesn't believe in Bitcoin , feeling exciter when the price of Bitcoin is down is a fucking hatred that always shows up at bankers . No wonder about his statement because he already chose his side in the Bitcoin vs Bank war.

Hui8

sr. member

Activity: 602

Merit: 259

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?

So he made a statement with non confidence. He is the only one who states that bitcoin is scam and he is only one who states that he don't understand why bitcoin is not going down. So he has no authority to predict that bitcoin is scam or not. I mean if you don't have any clues regarding its existence then how could you predict it's scam nature or how could you claim that one. So you see that's kind of people who creates bad hype in the market. Better skip such news.

xiaowu55

newbie

Activity: 84

Merit: 0

That's just one more comment on bitcoin that people don't know about bitcoin.
We can completely ignored it, his words may be a little authority in the banking industry, but in the currency of this, he completely don't understand what he said is completely can be regard as a prank
He is a banker, and bitcoin is a rival to the banking industry, and we can assume that he is speaking to his competitors.

btcgreen63

jr. member

Activity: 98

Merit: 5

He's clearly wrong but if the cryptocurrency market is going to stay so unregulated that scams like Bitconnect thrive and make big news when they crash, then the entire industry gets harmed in the process.

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