I've been saying for some months that the Bitcoins were going to crash.#Bali #news Last night after bear market rally it dropped almost 7 % .What's ahead?
I warned earlier this month. "If you thought about buying Bitcoins, think again. If you bought them and have a handsome profit don't be greedy, take your profit. " last night it dropped over 10%. this is the beginning of the end for Bitcoin and it may have some bear Market rallies if you haven't got out you may want to think about getting out on any rallies".
Today Sept 22nd. it appears it may have ended it's bear market rally and dropped 7 % overnight.
I believe any further drop and all the unsophisticated investors that fell for this fraud will panic and sell perhaps causing another 20 % to 40 % drop before Nov.
On the other hand the slick marketers that are pushing Bitcoins and cryptocurrencies may convince the same unsophisticated investors to buy more on these dips and cause it to go higher before one final, fatal crash that may wipe out 60 % to 90 % of it's historic rise.
Since Sept 1st, in the last two weeks the Bitcoin index has dropped 31 %
Over a thousand Facebook friends have unfriended me because they were too ignorant to see that "Bitcoins is a fraud". According to Jamie Diamon, Head of Jp Morgan.
I warned earlier this month. "If you thought about buying Bitcoins, think again. If you bought them and have a handsome profit don't be greedy, take your profit. " last night it dropped over 10%. this is the beginning of the end for Bitcoin and it may have some bear Market rallies if you haven't got out you may want to think about getting out on any rallies".
Today Sept 22nd. it appears it may have ended it's bear market rally and dropped 7 % overnight.
I believe any further drop and all the unsophisticated investors that fell for this fraud will panic and sell perhaps causing another 20 % to 40 % drop before Nov.
On the other hand the slick marketers that are pushing Bitcoins and cryptocurrencies may convince the same unsophisticated investors to buy more on these dips and cause it to go higher before one final, fatal crash that may wipe out 60 % to 90 % of it's historic rise.
Since Sept 1st, in the last two weeks the Bitcoin index has dropped 31 %
Over a thousand Facebook friends have unfriended me because they were too ignorant to see that "Bitcoins is a fraud". According to Jamie Diamon, Head of Jp Morgan.
I have had severe criticism from friends who obviously own or sell Bitcoins.
Please don't kill the messenger.
Instead thank someone such as Jamie Diamond head of J.P. Morgan, Chase and I who are willing to stick our necks out and take the abuse to warn others of a very dangerous " Fraudulent Investment".
I had the same abuse when I told everyone to get out of Hawaii Real Estate in 1982, American Real Estate in 2007 and Singapore Real Estate in 2013.
I had the same abuse when I told everyone to get out of Hawaii Real Estate in 1982, American Real Estate in 2007 and Singapore Real Estate in 2013.
In fact I have learned if people are not criticising my predictions I may be wrong because you have to be a contrarian to succeed in investments.
According to PT. B.A.L.I., Bali's leading real estate expert for the past 13 years, with thousands of satisfied clients, this is the “Second best time to purchase Bali Real Estate this century”.
They cite the fact that changes in real estate laws for foreigners allowing them to obtain control for more than a normal lifetime and up to 70% bank financing is creating a huge new demand for Bali Real Estate.
Coupled with the fact that Bali Real Estate has just undergone the first correction in modern history with prices down up to 50 % this has set the stage for *increases of 20% to 100 % the next three to five years.
Free Bali Real Estate Seminars:
PT. B.A.L.I’s Canadian President, Lawrence who is married to Azizah a fully Licenced Notaris will review the most recent Indonesian real estate laws for Indonesian and Foreigners in detail. Then they discuss the Past, Present, and Future of Bali Real Estate at a series of Free Seminars in Sanur the next two weeks.
Free Seminar Schedule:
Sanur – Saturday Sept.23rd. 2:00 PM - 3:00 PM.
Location : Emerald Villas Conference Rooms.
Jl. Karangsari # 5 , Sanur , Bali.
Limited Seating: Free Parking.
Seating is very limited for these free seminars so please avoid disappointment and make reservations ASAP.
Tel: Office: 62-361- 284069 or Mobile: 62– 812-381-4014 or Email: seminarsptbali@gmail.com
At these seminars you will learn about:
- The Past, present and future of Bali real estate.
- Why a recent official clarification of foreign ownership laws allows foreigners to totally control Bali properties for up to 80 years without leases?
- Why Indonesian banks will now lend money on Bali Real Estate to foreigners, therefore proving leverage and additional huge profits?
- How to avoid legal problems and make sure a property is solid.
- How to avoid complicated real estate laws in affecting Indonesians married to foreigners.
- Why this is the second best time to buy this century.
- Where are the best locations to buy in Bali for maximum profits?
- What type of properties will offer the best investment potential of 10% to 20 % per year?
- Launching of brand new Asian wide “Best Asia Real Estate” web site designed after the largest most successful real estate site in America with high tech search features.
- Discover how you can sell your property fast for the highest prices and lowest commissions.
- An opportunity for a free listing on B.A.R.E. First Class Beachfront property at almost 50% discount.
- A Quality 5,000 m2 Bali Hotel with12 bungalows, 3 pools and Restaurant for only $588,000.
- Low cost properties with Luxury Villas starting as low as $129,000 for a three bedroom 650 m² 3 bedroom, 4 bath with private 9 mtr. Pool.
- Ridiculously low priced ocean view building lots starting as low as $25,000 for 500 m².
Limited Seating: Free Parking.
Seating is very limited for these free seminars so please avoid disappointment and make reservations ASAP.
Tel: Office: 62-361- 284069 or Mobile: 62– 812-381-4014 or Email: seminarsptbali@gmail.com
Seating is very limited for these free seminars so please avoid disappointment and make reservations ASAP.
Tel: Office: 62-361- 284069 or Mobile: 62– 812-381-4014 or Email: seminarsptbali@gmail.com
JPMorgan calls Bitcoin 'fraud' only for use by criminals and North Koreans
JPMorgan boss Jamie Dimon has not minced his words when it comes to the cryptocurrency.
By Charlie Osborne for Zero Day | September 14, 2017 -- 10:05 GMT (18:05 GMT+08:00) | Topic: Banking
File Photo
Bitcoin is little more than a "fraud" which will eventually blow up in the faces of traders, according to JPMorgan Chase CEO Jamie Dimon.
The state of mobile device security: Android vs. iOS
Android or iOS is one of the biggest decisions you'll make for your company, especially regarding security.
Read More
Speaking to attendees at a banking conference in New York this week, the executive blasted the cryptocurrency industry, saying it "isn't going to work."
"If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in Bitcoin than US dollars," he said, according to The Guardian. "So there may be a market for that, but it would be a limited market."
Bitcoin is a type of cryptocurrency, and perhaps the most well-known, which can be used to make purchases, trade on Bitcoin exchanges, and is considered as an asset by some, a currency by others.
At the time of writing, one Bitcoin is valued at $3,886, having hit a $5,000 all-time high on September 2.
Dimon believes Bitcoin is only fit for those who need to circumvent traditional, traceable banking systems, and said that at the financial institution, trading in Bitcoin is against the rules. Should he find out that any JPMorgan employees were dabbling in the cryptocurrency, he would fire them "in a second."
While referring to Tulip Mania, a market bubble and crash from the 1600s, Dimon dubbed Bitcoin a "tulip" which eventually will crash and burn.
"It could be at $20,000 before this happens, but it will eventually blow up," he said. "Honestly, I am just shocked that anyone can't see it for what it is."
Huawei’s “Global Industry Vision” shows how ICT will shape an intelligent future
Soon, every object and every person we interact with will be augmented by ambient artificial intelligence (AI). Find out more at Huawei Connect 2017.
Sponsored by Huawei
The CEO's claims concerning the cryptocurrency come as both the UK and China have issued warnings about trading, namely speculations called Initial Coin Offerings (ICOs).
This month, China announced a ban on ICOs based in the country, calling the events a "disruption" to financial order -- an attitude seemingly reflected by the JPMorgan CEO.
ICOs allow investors to trade cryptocurrency coins for a "share" in a company or project. This setup confuses current financial and company systems due to their being no black-and-white line between shareholders, owners, and investor rights, but should an ICO and a project be successful, traders can benefit.
However, ICOs do hold risk. Not only are they speculative, but cyberattackers have also bombarded the events in order to fraudulently acquire investor funds.
In July, the CoinDash ICO became chaotic when a hacker made off with $7.4 million in digital currency, and Veritaseum has also lost $8.4 million through an ICO.
In response to Dimon's speech, John McAfee, McAfee security firm founder and current company owner of MGT Capital Investments which mines the cryptocurrency, retaliated.
Speaking to CNBC, the executive said there is value in creating and trading Bitcoin, as its current popularity and usage shows.
"I'm a Bitcoin miner," McAfee said on CNBC's Fast Money show on Wednesday. "We create bitcoins. It costs over $1,000 per coin to create a bitcoin. What does it cost to create a US dollar? Which one is the fraud? Because it costs whatever the paper costs, but it costs me and other miners over $1,000 per coin. It's called proof of work."
Bitcoin is little more than a "fraud" which will eventually blow up in the faces of traders, according to JPMorgan Chase CEO Jamie Dimon.
The state of mobile device security: Android vs. iOS
Android or iOS is one of the biggest decisions you'll make for your company, especially regarding security.
Read More
Speaking to attendees at a banking conference in New York this week, the executive blasted the cryptocurrency industry, saying it "isn't going to work."
"If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in Bitcoin than US dollars," he said, according to The Guardian. "So there may be a market for that, but it would be a limited market."
Bitcoin is a type of cryptocurrency, and perhaps the most well-known, which can be used to make purchases, trade on Bitcoin exchanges, and is considered as an asset by some, a currency by others.
At the time of writing, one Bitcoin is valued at $3,886, having hit a $5,000 all-time high on September 2.
Dimon believes Bitcoin is only fit for those who need to circumvent traditional, traceable banking systems, and said that at the financial institution, trading in Bitcoin is against the rules. Should he find out that any JPMorgan employees were dabbling in the cryptocurrency, he would fire them "in a second."
While referring to Tulip Mania, a market bubble and crash from the 1600s, Dimon dubbed Bitcoin a "tulip" which eventually will crash and burn.
"It could be at $20,000 before this happens, but it will eventually blow up," he said. "Honestly, I am just shocked that anyone can't see it for what it is."
Huawei’s “Global Industry Vision” shows how ICT will shape an intelligent future
Soon, every object and every person we interact with will be augmented by ambient artificial intelligence (AI). Find out more at Huawei Connect 2017.
Sponsored by Huawei
The CEO's claims concerning the cryptocurrency come as both the UK and China have issued warnings about trading, namely speculations called Initial Coin Offerings (ICOs).
This month, China announced a ban on ICOs based in the country, calling the events a "disruption" to financial order -- an attitude seemingly reflected by the JPMorgan CEO.
ICOs allow investors to trade cryptocurrency coins for a "share" in a company or project. This setup confuses current financial and company systems due to their being no black-and-white line between shareholders, owners, and investor rights, but should an ICO and a project be successful, traders can benefit.
However, ICOs do hold risk. Not only are they speculative, but cyberattackers have also bombarded the events in order to fraudulently acquire investor funds.
In July, the CoinDash ICO became chaotic when a hacker made off with $7.4 million in digital currency, and Veritaseum has also lost $8.4 million through an ICO.
In response to Dimon's speech, John McAfee, McAfee security firm founder and current company owner of MGT Capital Investments which mines the cryptocurrency, retaliated.
Speaking to CNBC, the executive said there is value in creating and trading Bitcoin, as its current popularity and usage shows.
"I'm a Bitcoin miner," McAfee said on CNBC's Fast Money show on Wednesday. "We create bitcoins. It costs over $1,000 per coin to create a bitcoin. What does it cost to create a US dollar? Which one is the fraud? Because it costs whatever the paper costs, but it costs me and other miners over $1,000 per coin. It's called proof of work."
No comments:
Post a Comment