Author Topic: Jordan Belfort ‘Wolf of Wall Street’ says: ICOs are ‘the Biggest Scam (Read 1282 times)

CryptoGirl · « **on:** October 23, 2017, 11:39:27 PM »

Well he is an expert in the domain, lol, here's what he said:
He stated:
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.

Belfort claimed ICO promoters are following “pump and dump” boiler room tactics of aggressive promotion to stir investor interest before selling all the tokens before a price collapse.

“Promoters [of ICOs] are perpetuating a massive scam of the highest order on everyone,” Belfort said. “Probably 85% of people out there don’t have bad intentions, but the problem is, if five or 10 percent are trying to scam you, it’s a fucking disaster....
Everyone and their grandmother wants to jump in right now. I’m not saying there’s something wrong with the idea of cryptocurrencies, or even tulip bulbs. It’s the people who will then get involved and bastardise the idea.”

Belfort went on to compare the current excitement for ICOs – which sees participation from startups and corporations alike – to that of “blind pools” in the 1970s and early 80s when brokerages raised funds from investors without disclosing how the money would be spent. Brokers earned big fees before these trading “pools” were dissolved, without a single investment.

Altcoins Talks - Cryptocurrency Forum · « **on:** October 23, 2017, 11:39:27 PM »

This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here