Wolf of Wall Street’ Jordan Belfort: Tether Is a Scam
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- เผยแพร่เมื่อ 26 ก.ค. 2021
- Jordan Belfort, the former stockbroker known as the "Wolf of Wall Street" and current crypto bull, discusses why he thinks stablecoin USDT issuer Tether is a scam. "I've been saying that since 2017 that I thought there was a big problem with Tether," Belfort said. Plus, his take on shitcoins to beware of, positive outlook for BTC and ETH, investing in DeFi, and thoughts on dogecoin.
#cryptocurrency #digitalfinance #finance #bitcoin #crypto
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This is not Leonardo DiCaprio
Damn, took me forever to notice that too
This is the actual person the world of Wall Street is based on. Educate yourself yo!
Hey I know you were kidding. I am kidding too.
it takes a wolf to see a wolf
just a few years ago, this joker said Bitcoin is a scam. Now he is all in on it. Once a scammer, will always be a scammer.
He's right ,tether is a scam
What evidence do you have? Or are you just a hater?
Is there any evidence that Tether is a scam? Or you can only repeat after haters and public people who are paid by Tether competitors!
@@davidbergamp2639 Bro are u sleeping, usdt is minting billions of dollars out of thin air. And they keep declining for a proper audit.
@@davidbergamp2639 they are not transparent ,simple as that . .
@@davidbergamp2639 They have already paid fines for misconduct and admitted only being backed 3% by cash, when they were once claiming 100% cashbacked...
this man sounds like he's running out of air constantly
Boy this aged well. As usual he was right!
Steve-O of Wall Street 😂
Tether will cause a makert crash in the near future.
@Minit Lilop At the very least their own scheme is going to blow up in their face and we're already seeing it. Did you see what happened yesterday??
@@tylerd1297 Yesterday, Tether signed an agreement with NYAG, passed certification, which is now held quarterly. Tether has also started to provide statistical data broken down by type of reserves, including the rating of commercial securities and other assets. Is that what you were going to say? (I may be confusing the dates)
I hope it does
@@felexlotov7946 lol well the US senate just filed against tether so goodluck with that desperate move to legitimize tether. Tether is 100% fraudulent not negotiable. When this is exposed, Bitcoin is over. Goodluck!
@@felexlotov7946 it's never been audited. Recently they claim their reserves are gold cd. Commercial paper. Pretty ironic they claim they are backed up by everything they hate. I don't believe it sorry
This aged well.
Irony would be, Jordan goes long crypto and loses everything just like the people he scammed years ago.
lol
The problem is that his losses would only feed another shark that will do more damage than Jordan ever did
The wolf of hair dye.
netherlands Bitcoin Meester has decided to stop trading USDT as of October 26 and replace it with USD Coin (USDC). The USDT will be swapped to USDC in a 1:1 ratio. Lately, there have been increasing doubts about Tether's conduct. To protect our users from the possible consequences, we have decided to swap all USDT to USDC in a 1:1 ratio. USDC is a stablecoin with a value pegged to the US Dollar.
I expect this video to see some growth, is all gonna crash down on them very very soon.
Give it 2-3 months for this crash
@@alvniz :)
If you need to feel good about investing just listen to a scammer. What could go wrong?
Lol. The fact this guy is out of prison doesn't mean we should believe him
Moe Szyslack
Lmao
How can tether maintain a 1:1 peg on the dollar when they need to pay gas fees to ETH miners for every transaction? Isn't this siphoning off value? Maybe they just charge a lot for tether transactions?
They use the Tron Blockchain which is a $1 flat fee to move any amount of usdt.
@@novaz8936 Ok, so they always pull a dollar out for every transaction. This still points to an unsustainable backing, no?
Wym ? Tether doesn't have to pay anything in fees. The buyer pays those fees. But even so, usdt has multiple networks
@@omarpip8641 The video claims tether runs on the ETH blockchain. When tether transactions are settled on chain, the eth gas fee must be paid. If tether passes this fee on to customers that’s fine, but the fee can be very unpredictable. There’s a lot of counter party risk for tether if they use a blockchain they do not control. But in reality I don’t think tether actually uses the eth blockchain like another commenter mentioned.
But even if they use a free blockchain, they are not guaranteed to keep adequate dollar reserves unless they back their tokens 1:1 with cash dollars and they already disclosed they are not doing this.
@@RedShiftedDollar no the Tron network takes the fee.
Looking back from days after luna tanked pretty interesting. I think tether is so big it paid off the ny attorney general imho
thanks for the video
The irony.
How will Tether proof, that their market cap can grown 1-2 billion USDT every month. When the market goes up, people will not keep their money in USDT.
The best messaging is that crypto is here for a group of investors and is one of the many asset classes. It is to exist in conjunction with traditional finance. Lets wait until the regulators can speak like this.
how to buy other coins with tether would be interesting to learn
You CAN ONLY lose money in crypto if (1) you buy high and sell low and 2) the crypto vanishes (defunct). If the value drops you hold on to it. Do not panick. I still have my cryptos & FINALLY they went back up and gained me 100%. Sucks for the guys who buy at the PEAK.
Tether would only crest a 5-10% difference in the crypto market and f it implodes completely.
He got one thing right the long term will not be stopped because it’s valuable as a whole, the market that is.
USDT-Bitcoin is the biggest trading pair in the crypto market. Most crypto is traded for and priced in Tether. If Tether is actually worth ten cents, that would wipe hundreds of billions or even a trillion dollars of value off the crypto market.
Tether will take down Bitcoin about 40-80% if not more. It's not just about the marketcap of Tether, but also how strong tether inflated bitcoin.
USDT is pivital to the operation of numerous exchanges. Even the fall of UST caused more pain than a 10% fall in the entire market. The whole UST ecosystem is dead.
Nope. Bitcoin is nearly entirely made up of tether which has been reported to manipulate the price in the past
Anyone investing in tether is INSANE
I often can't see the difference from a legit crypto coin from that of a rug pull.
He is talking about HEX
Here after the Terra/Luna collapse 😬
$UST is inevitable as liquidity rotates out of centralized stablecoins to decentralized stablecoins. Very few truly appreciate how massive this will be $Luna. $UST has cross-chain organic demand is being driven on multiple fronts in parallel, savings, leveraged yield, borrowing, synthetics, derivatives, gaming, CEX trading pairs, cross-chain liquidity, consumer savings, non-profit endowments. $LUNA
This aged well.
🤣
You okay anon ?
If Tether is a scam we also can say that Bitcoin is also scam! Becouse USDT sell one by one near Bitcoin! If something happened with Tether, Bitcoin will have big crashed in a market!
Lol this comment aged well
mxnt can really become something significant in the market and we gonna see it next year cause south america is the place for crypto
He is right it Tether is a SCAM - Seductive Curency At the Moment and i am gonna buy it more.
Do you still feel this way. I think it's going down soon
@@farmerfox99 On 3/2/2023, it's still good.
Yup here we are, tether is confirmed minting fake coins.
buy and hold? like you did with the steve madden stock right? Give me a break... Get outta here...
lol
Astute guest
'Just use Monero'
☝️☝️☝️☝️
*How did you come by such gölden heart? Thank you for the extraördinary help you gave me. it bröught so much relief.God richly bless you sir*
You're right , the importance of multiple stream of income , unfortunately having a job doesn't mean financial freedom or security
There you have it folks straight from the scam artists mouth
Jordan is so real here. Makes Mark Cuban look like a joke.
When it all burns down. A few crypto’s will rise from the ashes, but most are going away.
VISINCYBERRS your approach is GENIUS and you’re establishing yourself as one of a kind communicator that I believe few have ever seen on this platform and I think you definitely succeeded in making sense of it to the world! Keep up the great Work My Dear
It's happening right now
Damn, he Called it early
I swear he came out and said cryptos are nothing but scam the last time around 4 years ago... now he's a crypto bull?
Let me get this straight. You are interviewing and asking advice from a guy whose known for ripping people off and stealing by not paying taxes. He's a salesman who got caught doing a similar thing as SBF. You are taking HIS advice? As a viewer, what am I supposed to do with this information?
But he was right. It's a scam
why is the production quality so low. bad mics and echoes... i think a little effort goes a long way @coindesk
so many sectarian are here, who've still believed what they hear about tether from that channel
What about Terra?
VISINCYBERRS your Approach is GENIUS and you’re Establishing yourself as one of a kind communicator that I believe few have ever seen on this platform and I think you definitely succeeded in Making sense of it to the world! Keep up the great Work My Dear
Lol 😂 what a joke, same jokestar who said Bitcoin is a scam.
@Joel the creator does not need to to something on the script of btc !
@Joel who is Satoshi Nakamoto then?
You wil learn the hard way.
bro bought too much bitcum and got tangled up there for a bit @8:05
nice price calls on btc and eth ;)
Where is this scammer now? Tether is still on the market, and where is this guy?
He wants "massive regulation"... L0L!
...he would know. No regulation let him get stupid rich, until he got caught.
Wow. You figured it out. One year late.
Cmon Jordan. Are you even trying?
No evidence, just words, nice.
how much did coinbase pay to you to say these words
"Bitcum" shitcoin coming soon
Bitcoin is similar to the mainstream currency in which gold can be circulated globally, and can be exchanged for the legal currency of various countries
And I really think that bitcoin nowadays is not good to invest because it is down and there will be a possibility of lossing money
Lost her life saving at 20...
FTX lol
I'm surprise I got back my lost funds,
Through this guy ⬆️.they're prefect in their job
How can I contact that guy?
Take away tether and bitcoin goes to $0
A scammer calling out a scam
haha he said 'legitimate crypto".
Scammer pretends to reveal other scams. What could go wrong?
I so hope that Tether is a scam... I come and buy Luna on the Dip
How are you doing now? How has your faith in Luna served you?
Tether runs on Etherium. This means that it is 100% dependent on the functionality and maintenance of the etherium network. An ETH miner strike could halt tether. Eth gas fees cause tether to be more expensive to transfer. This is not a healthy dependency for a dollar derivative.
Tether dies when ethereum switches to 2.0
Everyone knows that this guy is bribed by competitors.
He doesn’t want Doge stealing the thunder. I’m sure she’s up if she held. Diamond 💎 🖐 people. This is already been said by many that how can it be considered a meme at this point.
doge has no max supply and a few whales own most coins...
Lol
Thanks for the info, Jordan! If one of the the greatest scammers in history tells me something is a scam, it most prabably isn't
Its the other way
I am all for crypto, but please man look real into tether. Even if it’s not a scam, it is being operated risky in extravagant terms (official by Jan van der Velde, a Dutchmen just like me).
This guy
Bitcum
Hex and Pulse - Richard Heart is god!
NFT gaming will onboard the majority masses.
This guy makes money from it by spreading lies.
But nevertheless, all whales and big investors continue not to trust the dollar, but to trust stablecoins and btc.
The scammer tries to talk about the fraud
Always trusted Tether, and for good reason
Recently, the company confirmed the provision of the stablecoin USDT
You’re not seriously about trusting tether right?
@@tl2143 You see, a lot of publications now write how bad Tether is. And even if a company may have a certain number of haters, there cannot be that many. Bloomberg alone published 6 articles in one day about Tether. So these articles were bought by someone, probably the people who run the banking system. I have also been using usdt for a long time, and of course I trust this company.
@@laurasmitt3506 it’s the biggest fraud since Madoff Securities do some research
@@mmooresmithiv60 I admit that your point of view has a place to exist, but where is the evidence?
@@laurasmitt3506 the CFTC has already fined them $41 million for lying about the coin being backed by dollars lmao, they refuse to be audited, they themselves said they only have 3% of reserves in cash, they are heavily exposed to toxic Chinese corporate debt (companies like evergrande which are about to default) and god only knows where the rest of there money is if it even exists
Jordon Belford is an antihero
Guys this comment is genius. Like it
Is the scammer talking about the scam? Funnily enough, this is the last person to trust in the matter of money.
What a joke this video is. Whether tether is “ legitimate” or not is irrelevant as long as it has a basis in usd it’s all inflated and unstable anyway. But coin isn’t due to limited supply and verifiable product.
what if we ask the question : is the us dollar backed by anything when it is printed (in trillions) ?
Tther = dollar 💵 Buy Bitcoin the eyes closed.
You still use dollar tho, man. Also, tether doesn't equal usd at least in the sence that it's a much more convenient and cheaper way to wait out the storm on crypto market, and buy back without even touching fiat
"... in the 90's he was convicted of fraud..." and now let's hear his take on crypto issues. Thank you but no. Next.
So far it’s worked and served the retail investors well
This guy is just lying, nothing more.
You're right , the importance of multiple stream of income , unfortunately having a job doesn't mean financial freedom or security
Crypto poop
I once heard a lot of things like this about Tether. My curiosity led me to buying some. And you know, since that time i don't regret and stack as many as possible because it brings me profit.
Since 2017, you have been claiming fraud. However, Tether still successfully shows itself as a stable coin that is used by tens of thousands of people around the world.
If you are looking for a legit platform that can increase your USDT. BWL-USDT platform can give you the opportunity to earn 20-30% daily passive income with just $10 USDT starting Capital plus a welcome BONUS up to 1 USDT, If you are interested. Hit me up for more info. 😊
Who can recommend me a professional trader?
Yeah, Good idea. A trader would be the best options if you are new to investing
I have been seeing a few ads pushing some investors here. Not really sure if to go with it.
Lots of shady deals here on youtube true
I got into trading with a genuine trader, Ms colleen terrie recommended to me by a friend. Made some decent earnings over the span of two weeks.
Wow, I'm currently trading with Colleen Terrie too. She's the best at what she does. Very polite and credible.
I'm so surprised you guys on here on youtube know bout Colleen terrie..I've made lotta profits from trading with her this period.
How wrong and limited it is to say so. Tether is a stable coin created for people. Most other stable coins are created for banks and bankers who want to get rich.
This guy has a personal dislike for tether, so his opinion is not taken into account.
Yeah his dislike is based on the fact that tether is a scam used to prop up Bitcoin
@@zaproodas9626 It sounds stupid, don't you think so?
Jordan Belfort was kicked out of Australia for being a scam 😅
VISINCYBERRS your approach is GENIUS and you’re establishing yourself as one of a kind communicator that I believe few have ever seen on this platform and I think you definitely succeeded in making sense of it to the world! Keep up the great Work My Dear
VISINCYBERRS your Approach is GENIUS and you’re Establishing yourself as one of a kind communicator that I believe few have ever seen on this platform and I think you definitely succeeded in Making sense of it to the world! Keep up the great Work My Dear
I'm surprise I got back my lost funds,
Through this guy ⬆️.they're prefect in their job