Whilst any new commodity being sold will have fraudsters in the wings ready to try out their next scam, I wonder if crypto currency is a sustainable phenomena in the first place?
Many are sceptical and see the world of 'bitcoin' as a Ponzi scheme. As history tells us what goes up invariable comes down! I fear the sharp rise in value and press worthiness that has been seen in 2017 will see dramatic results on the other side. Whilst this currency may prove volatile to the detriment of investors we could well be embarking on a new lifestyle currency that is here to stay. Once all the 'bumps' have been ironed out. Oh and that huge crash everyone is talking about!
The Wolf of Wall Street thinks Bitcoin is a ‘huge scam’. Jordan Belfort, who was the inspiration behind the hit film that starred Leonard DiCaprio, warned the value of the cryptocurrency could fall massively. British schoolboy now third in line to Romanian throne after death of king This is despite the price of Bitcoin hitting a record of almost $18,000 (£13,000) on the Bitstamp exchange yesterday. Former stockbroker Belfort told the Financial Times: ‘Promoters are perpetuating a massive scam of the highest order on everyone. ‘Probably 85 percent of people out there don’t have bad intentions but the problem is, if five or 10 percent are trying to scam you.’