Topic: Wolf of Wall Street (Jordan Belfort) - "ICO's are the biggest scam ever"! - page 3. (Read 860 times)
October 26, 2017, 07:45:30 AM
Never understood the point of collecting millions of dollars through crowdfunding just to be able to develop a project that would be nowhere close to that much worth of money (in most cases at least). It is fair to bring up that many of these so called ICOs have turned out to be outright scams, running away with all the funds raised. Also, look around in the altcoin market these days, you will barely find any tokens retaining their ICO value or going higher as the whole market is diluted with rubbish.
October 26, 2017, 07:38:55 AM
http://www.24hgold.com/english/news-gold-silver-wall-street-piles-into-cryptocurrencies-others-speak-of-biggest-scam-ever-.aspx?article=11651517744H11690&redirect=false&contributor=Wolf+Richter
I don’t remember ever having seen crazier times of more pandemic proportions.
“It is the biggest scam ever, such a huge gigantic scam that’s going to blow up in so many people’s faces. It’s far worse than anything I was ever doing,” explained Jordan Belfort concerning ICOs (initial coin offerings) of cryptocurrencies. The former penny-stock broker portrayed by Leonardo DiCaprio in The Wolf of Wall Street should know: He spent 22 months in the hoosegow for securities fraud and money-laundering.
I don’t remember ever having seen crazier times of more pandemic proportions.
“It is the biggest scam ever, such a huge gigantic scam that’s going to blow up in so many people’s faces. It’s far worse than anything I was ever doing,” explained Jordan Belfort concerning ICOs (initial coin offerings) of cryptocurrencies. The former penny-stock broker portrayed by Leonardo DiCaprio in The Wolf of Wall Street should know: He spent 22 months in the hoosegow for securities fraud and money-laundering.
The biggest scammer called something a scam.
He is probably already in and making money out of it
) October 26, 2017, 05:31:47 AM
He don't have to conclude that all of the ICOs are scam. There are legit ICOs that are getting investors to pursue their project but there are others also that are collecting money from their investors and will eventually scam them. And it definitely there's an interconnection between this guy and also Jamie Dimon because they keep on talking against bitcoin every time there will be published articles.
The problem is ICO's, not Bitcoin.
~snip~
Yes, good catch and additional info.They are all hiding in bitcoin's name and the most affected coins when the talk is about cryptocurrency is bitcoin. And with this statement of Jordan Belfort, bitcoin is the most affected coin for this because those people that really don't have an idea about crypto's when ICO's or cryptocurrencies are involved to scam, they are thinking that it's bitcoin.
October 24, 2017, 07:11:09 PM
I read recently that a blind investment into every ICO to date would have generated a return of 1,320%. That's including the ones that have gone bust 
October 24, 2017, 06:49:34 PM
Interesting article on subject and quote form CommerceBlock
http://www.dailymail.co.uk/money/investing/article-5008127/Jordan-Belfort-warns-ICOs-biggest-scam-ever.html
http://www.dailymail.co.uk/money/investing/article-5008127/Jordan-Belfort-warns-ICOs-biggest-scam-ever.html
October 24, 2017, 06:28:34 PM
Yes those are old news, when i saw that the real Jordan Belfort said this, i really cried after seeing that, i really appreciate that guy because i enjoyed the movie, and i read a lot about his life and how did he raised his fortune.
But when i saw this.. i started to hate him, omg, maybe he is right because ico's have ruinned the market, and this is true, it is full of ico's that are only trying to raise funds in order to create a quick-rich scheme for the owners, not to the investors.
He is right, but i started to hate him because of this one..
But when i saw this.. i started to hate him, omg, maybe he is right because ico's have ruinned the market, and this is true, it is full of ico's that are only trying to raise funds in order to create a quick-rich scheme for the owners, not to the investors.
He is right, but i started to hate him because of this one..
October 24, 2017, 06:18:44 PM
He don't have to conclude that all of the ICOs are scam. There are legit ICOs that are getting investors to pursue their project but there are others also that are collecting money from their investors and will eventually scam them. And it definitely there's an interconnection between this guy and also Jamie Dimon because they keep on talking against bitcoin every time there will be published articles.
The problem is ICO's, not Bitcoin.
The problem is, 80% Premined 'Public Offering' coins like Ethereum pretending to be a 'cryptocurrency', and ruining bitcoin's name.
How is a 'currency' something that is produced and sold by a for-profit corporation?
That's worse than fiat!
You get-rich-quickster ICOsters are gonna find out the hard way, just like the wolf here did.
https://www.sec.gov/litigation/investreport/34-81207.pdf
ICO coins are SECURITIES, not CURRENCY.
http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html
"Substance Over Form
In deciding Howey, the Supreme Court created a test that looks at an investment's substance, rather than its form, as the determining factor for whether it is a security. Even if an investment is not labeled a "stock" or "bond," it may very well be a security under the law, meaning that registration and disclosure requirements apply. After the creation of the Howey Test, some promoters masqueraded securities to try and escape registration requirements (such as by calling an offer of securities an interest in a general partnership). To deal with these charades, courts look at the economic realities behind an investment scheme, rather than at its name or form, to determine whether it is a security."
October 24, 2017, 06:14:53 PM
He don't have to conclude that all of the ICOs are scam. There are legit ICOs that are getting investors to pursue their project but there are others also that are collecting money from their investors and will eventually scam them. And it definitely there's an interconnection between this guy and also Jamie Dimon because they keep on talking against bitcoin every time there will be published articles.
October 24, 2017, 06:13:01 PM
I watched Wolf of Wall Street, really successful
This is a true story. But we knows Ico's aren't the biggest scam this is also true.
This is a true story. But we knows Ico's aren't the biggest scam this is also true.
October 24, 2017, 06:08:29 PM
ICO's have ruined cryptocurrency.
Do not pass Go. Do not collect $200. Go to Jail.
And no, there is no 'good' ICO.
Do not pass Go. Do not collect $200. Go to Jail.
And no, there is no 'good' ICO.
October 24, 2017, 06:04:53 PM
http://www.24hgold.com/english/news-gold-silver-wall-street-piles-into-cryptocurrencies-others-speak-of-biggest-scam-ever-.aspx?article=11651517744H11690&redirect=false&contributor=Wolf+Richter
I don’t remember ever having seen crazier times of more pandemic proportions.
“It is the biggest scam ever, such a huge gigantic scam that’s going to blow up in so many people’s faces. It’s far worse than anything I was ever doing,” explained Jordan Belfort concerning ICOs (initial coin offerings) of cryptocurrencies. The former penny-stock broker portrayed by Leonardo DiCaprio in The Wolf of Wall Street should know: He spent 22 months in the hoosegow for securities fraud and money-laundering.
Just about anyone can call themselves a startup, make promises of future products or services, and sell digital tokens to raise funds. These digital tokens become tradable cryptocurrencies. Buyers do not receive any ownership of the startup, which is what traditional startup investors get. Instead they’re usually promised something in the future, such as free access to the service once available. It doesn’t really matter what the promises are because people buy the tokens to get rich, hoping that they’re getting into the hottest cryptocurrency on the ground floor. ICOs are not regulated and anything goes.
I don’t remember ever having seen crazier times of more pandemic proportions.
“It is the biggest scam ever, such a huge gigantic scam that’s going to blow up in so many people’s faces. It’s far worse than anything I was ever doing,” explained Jordan Belfort concerning ICOs (initial coin offerings) of cryptocurrencies. The former penny-stock broker portrayed by Leonardo DiCaprio in The Wolf of Wall Street should know: He spent 22 months in the hoosegow for securities fraud and money-laundering.
Just about anyone can call themselves a startup, make promises of future products or services, and sell digital tokens to raise funds. These digital tokens become tradable cryptocurrencies. Buyers do not receive any ownership of the startup, which is what traditional startup investors get. Instead they’re usually promised something in the future, such as free access to the service once available. It doesn’t really matter what the promises are because people buy the tokens to get rich, hoping that they’re getting into the hottest cryptocurrency on the ground floor. ICOs are not regulated and anything goes.
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