Bitcoin has turned into a long-familiar and highly successful phenomenon within the business sector, which is explained by the high rates of this crypto project amounting to $8,2 per a single crypto token. Even though the confidence towards the Bitcoin cryptocurrency is still rising, it continues to face strong criticism from a number of reputable individuals.
Here is a list of 8 most renowned Bitcoin critics ever as well as their most unforgettable arguments against this digital currency.
John Oliver
It is clear that the major issue of concern for him was the degree of volatility and unexpectedness revolving around the Bitcoin crypto project.
The British comedy star made an argument that investment in crypto projects is not actually what it seems to be, as it is more likely to be called a risky venture similar to gambling. It is neither good nor bad, but the truth is that the crypto rates have a tendency to decline.
Oliver also added that the most significant thing to keep in mind is that this venture is a totally new space and no one can actually understand where it is headed, so there is a need to be especially cautious even if it sounds a bit tedious.
Dave Ramsey
The American finance-related manager Dave Ramsey has also made a few critical remarks on Bitcoin during his performance on a radio program.
Ramsey has gained a significant reputation due to his publications that stimulate people to adopt a new approach to oneТs individual funds. Some of his writings have turned into best-selling artworks published primarily in the New York Times. He is a Christian and a supporter of severe financial control if we are talking about debts, so it comes as no surprise that he has recently spoken out against the Bitcoin cryptocurrency.
He compared this venture to such a risky phenomenon as gambling because people most often lose their funds when they are hunting for easy-to-get monetary gains.
He also added that he thinks Bitcoin will survive, but before that time comes, it might ruin lives of multiple people. This is because it is steadily declining as of now, and although it might rise once again, all investors will most likely understand too late that those who wish to get wealthier using such instruments are going to be punished.
Jamie Dimon
Dimon claims that he cannot perceive cryptocurrency as something that has any value if to compare it with such stable traditional currencies as dollar, euro or the Japanese yen.
Jordan Belfort
According to Belfort, Bitcoin has quickly ascended to its current position as of now, but in reality all other similar crypto projects do not presume any control at the level of Bitcoin as it is.
He also claimed that it is a rather shadowy industry. There are some individuals who are utilizing the success and popularity of Bitcoin for their own greedy purposes, so that the cryptocurrency world is associated with much danger even though people tend to perceive it as a highly important issue. Evidently, this is not true.
Warren Buffet
Buffet claimed that all crypto projects will most likely end up facing a complete failure.
Barack Obama
Obama said that there is one question that needs to be answered. It consists in the fact that if it ever becomes possible to create an indestructible technical appliance or a special system with an extremely strong level of protection, then how would people detect the underage pornography viewer? Furthermore, how would a terrorist attempt be prevented and what are the key systems that would help in solving such simple tasks as tax regulation?
Obama also commented that if nobody, let alone the government, are not able to crack such a system, then all of us might just as well walk around having a fully packed Swiss bank balance in our wallet.
Peter Schiff
He also added that nothing valuable can be done with such a currency. While gold is used for making jewelry, cryptocurrencies like Bitcoin have no actual use. Besides, gold can be utilized in technology development as well as in medical sphere and aeronautics, but there is absolutely no purpose of keeping Bitcoin as an asset.
Mark Carney
He argued that from a negative perspective, crypto funds are associated with numerous issues surrounding the safety of customers and investors, as well as the integrity of the industry, cash laundering, financial assistance to terrorists, tax avoidance and the deceit revolving around capital management and globally imposed sanctions.
Here is a list of 8 most renowned Bitcoin critics ever as well as their most unforgettable arguments against this digital currency.
John Oliver
This British celebrity took part in a highly popular American TV program known as Last Week Tonight, where he had made strong remarks against Bitcoin. He started the program from a highly enthusiastic speech regarding the whole venture of cryptocurrency projects.
The primary stage of his speech involved the reference to a designated route he was following. John Oliver characterized Bitcoin as something no one can actually comprehend in terms of money and something no one can really understand in terms of computer technologies. It is clear that the major issue of concern for him was the degree of volatility and unexpectedness revolving around the Bitcoin crypto project.
The British comedy star made an argument that investment in crypto projects is not actually what it seems to be, as it is more likely to be called a risky venture similar to gambling. It is neither good nor bad, but the truth is that the crypto rates have a tendency to decline.
Oliver also added that the most significant thing to keep in mind is that this venture is a totally new space and no one can actually understand where it is headed, so there is a need to be especially cautious even if it sounds a bit tedious.
Dave Ramsey
The American finance-related manager Dave Ramsey has also made a few critical remarks on Bitcoin during his performance on a radio program.
He compared this venture to such a risky phenomenon as gambling because people most often lose their funds when they are hunting for easy-to-get monetary gains.
He also added that he thinks Bitcoin will survive, but before that time comes, it might ruin lives of multiple people. This is because it is steadily declining as of now, and although it might rise once again, all investors will most likely understand too late that those who wish to get wealthier using such instruments are going to be punished.
Jamie Dimon
This is a US businessman who occupies a post of a CEO in the JP Morgan Chase Company. Jamie Dimon has made an assumption that he is not really concerned about the future of Bitcoin. However, in the past he frequently expressed his skeptic views regarding the cryptocurrency world.
It is quite comprehensible why Dimon hates Bitcoin so much. This is because he is the director of one of the most prosperous banks in the USA, while crypto projects evidently pose an immense threat to such banking organizations as JP Morgan Chase. In the past, he also was part of the board of directors working in the Federal Reserve Bank in NY.Dimon claims that he cannot perceive cryptocurrency as something that has any value if to compare it with such stable traditional currencies as dollar, euro or the Japanese yen.
Jordan Belfort
This is a world-known figure that has become most recognizable due to the Oscar-nominated film released in 2013 with Leonardo Di Caprio playing the primary role of Belfort himself. The movie represented a biographical reference to the ups and downs in the life of Belfort at the time when he served as a stock dealer.
At the end of the 1990s, Belfort was imprisoned after he had been proved guilty for committing diverse wrongful deeds on the stock exchange market. Since the time he was set free, he has turned into a public figure in the banking sector. Regarding the issue of Bitcoin, Belfort stated that the entire fuss surrounding Bitcoin is filled with many fraudulent activities. According to Belfort, Bitcoin has quickly ascended to its current position as of now, but in reality all other similar crypto projects do not presume any control at the level of Bitcoin as it is.
He also claimed that it is a rather shadowy industry. There are some individuals who are utilizing the success and popularity of Bitcoin for their own greedy purposes, so that the cryptocurrency world is associated with much danger even though people tend to perceive it as a highly important issue. Evidently, this is not true.
Warren Buffet
According to Warren Buffet, cryptocurrencies are doomed to failure. We should not forget that such an assumption was made by one of the most reputable banking investors of the century. When it comes to the opinion of this figure regarding the financial sphere, there can be no doubts that he is right in many of his claims.
The American businessman owns an entire net of companies whose value amounts to 87.5 billion dollars, and this is what makes this figure the third wealthiest man globally. He stays loyal to his views regarding the authentic nature of Bitcoin as he actually disagrees that this crypto project is a trustworthy venture. In fact, his assumptions regarding the crypto world are not as positive as it is expected. Buffet claimed that all crypto projects will most likely end up facing a complete failure.
Barack Obama
The former President of the USA Barack Obama also made comments regarding crypto projects while still holding his power. He was quite a renowned critic of the entire venture of Bitcoin.
Most of his comments referred to the lack of control over this sector. He was also anxious about the insufficient information that would be available to the governmental authorities at the time when the cryptocurrencies will completely fail. Obama said that there is one question that needs to be answered. It consists in the fact that if it ever becomes possible to create an indestructible technical appliance or a special system with an extremely strong level of protection, then how would people detect the underage pornography viewer? Furthermore, how would a terrorist attempt be prevented and what are the key systems that would help in solving such simple tasks as tax regulation?
Obama also commented that if nobody, let alone the government, are not able to crack such a system, then all of us might just as well walk around having a fully packed Swiss bank balance in our wallet.
Peter Schiff
This is a widely recognized American financial investor and a radio program participant who has turned into a great adversary of the whole Bitcoin venture.
Peter Schiff would frequently go hand-in-hand with all those who are loyal to the cryptocurrency industry. In his comment against it, Schiff made a number of claims against Bitcoin, mainly referring to the lack of probability that its value will keep rising as well as the insufficient credibility because this currency cannot be considered equal to gold. He also added that nothing valuable can be done with such a currency. While gold is used for making jewelry, cryptocurrencies like Bitcoin have no actual use. Besides, gold can be utilized in technology development as well as in medical sphere and aeronautics, but there is absolutely no purpose of keeping Bitcoin as an asset.
Mark Carney
This is the manager of the Bank of England who is also known as a Canada-born economist. He is ranked among the most powerful men in the financial sphere. He has also been given the Order of Canada and many other awards for his contribution to the banking world.
Despite all these privileges, Carney remains one of the strongest critics of the Bitcoin crypto project. He argued that from a negative perspective, crypto funds are associated with numerous issues surrounding the safety of customers and investors, as well as the integrity of the industry, cash laundering, financial assistance to terrorists, tax avoidance and the deceit revolving around capital management and globally imposed sanctions.
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