Jorge Stolfi Compares Bitcoin with Ponzi and Penny Stocks
Following the comments received by the SEC, the commission has extended the time required for its decision making process regarding Bitcoin ETFs. A Brazilian professor is receiving flacks from the Bitcoin community for comparing the digital currency with Ponzi schemes and penny stocks. Jorge Stolfi, professor at State University of Campinas, and a staunch Bitcoin critic, said in an ETF filing that Bitcoin is a “speculative trading asset, and the value of which is “based on expectations of traders”. He went on saying that Bitcoin should be regulated the same way a Ponzi fund or a Penny....
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Computer science professor Jorge Stolfi has angered bitcoiners with his submission to the SEC regarding a proposed Bitcoin investment fund. As part of its approval process to be listed on the Bats BZX Exchange, details of the COIN ETF were published today in the US Federal Register. Any interested parties have 45 days to submit an opinion to the US....
Kraken Bitcoin strategist Pierre Rochard debates professor of computer science Jorge Stolfi on whether Bitcoin meets the definition of a Ponzi scheme. Does Bitcoin meet the definition of a Ponzi scheme? This is the subject of the latest Cointelegraph Crypto Duel, where Bitcoin strategist at Kraken meets professor of computer science at the University of Campinas, Jorge Stolfi. Similar to other Bitcoin skeptics, Stolfi repeatedly defined Bitcoin as a Ponzi scheme. The core of his argument is that Bitcoin doesn’t produce any cash flows and the money with which Bitcoin investors are paid....
Buying bitcoin and other major cryptocurrencies in 2020 has proven to be a winning strategy. But crypto investors looking to diversify their digital currency exposure should consider including stocks that offer exposure to specific companies with ties to cryptocurrencies. Penny stocks with small exposure to cryptocurrencies like Overstock.com (NASDAQ: OSTK) soared during the recent crypto boom. Investors hoping to find the next hidden gem have several penny stocks to watch. Canaan and Ebang International Holdings […]
Satoshi Nakamoto would probably have built inflation into the Bitcoin protocol to avoid mining centralization – if he could start over again – says a professor known for his controversial Bitcoin statements. Inflation for Bitcoin? Brazilian computer science professor Jorge Stolfi wrote in a Reddit thread that a small amount of built-in inflation would....
“I don’t think there’s any amount of research that you can do to protect yourself from these ultra low cap [assets], except getting in really, really early,” said Jordan Belfort. Former stockbroker Jordan Belfort, known colloquially as the “Wolf of Wall Street” has likened low market cap crypto assets to penny stocks due to their extreme price volatility. Penny stocks refer to highly speculative shares priced under $1 from small and unknown companies. Generally they either fetch massive returns for investors or crash and burn dramatically. Belfort's rise to prominence in the 90s and....