..

Bitcoin Being Fueled by 'a Class of Really Stupid Speculators' Expert Claims

Written by:
Guest
Published on:
Jan/02/2018

Bitcoin, the digital anonymous crypto-currency, is due to crash and burn as a result of speculators, claims David Stockman, President Ronald Reagan's former director of the Office of Management and a relentless Wall Street bear.

"It's basically a class of really stupid speculators who have convinced themselves that trees grow to the sky," he told CNBC's "Futures Now" last week. "It will burn out in a spectacular crash. All of these latter-day speculators will have their hands burned to a crisp, and they will learn the proper lesson."

Stockman blamed the Federal Reserve and central banks for creating the hype surrounding the stock and cryptocurrency markets.

"What we really need to do is not think these are regulator problems, but understand they're monetary problems," he said. "It's an irrational, overheated market like never before."

Close to 40% of all online gambling transactions for those businesses operating in so-called "grey" or restrictive markets are now via some form of crypto-currencies as these companies invest in educating their exisiting customer base as well as those now joining.


Now accepting most forms of crypto-currencies

Bitcoin craze made up of ‘really stupid speculators,’ David Stockman warns from CNBC.

video News

Investigation Into Crown Casino Yields Shocking Allegations

Investigation Into Crown Casino Yields Shocking Allegations

A six-month joint investigation by 60 MINUTES, The Age and The Sydney Morning Herald has exposed a corporate scandal unlike anything Australia has seen before.

Man Goes Missing After Night at Casino

Man Goes Missing After Night at Casino

He's a realtor, a church-going guy and a loyal life and business partner. So where is he?

Master Motivator Cameron Hughes Joins the Docs Sports Happy Hour

Master Motivator Cameron Hughes Joins the Docs Sports Happy Hour

Cameron Hughes, Professional Crowd Igniter, and Master Motivational Speaker joins Docs Sports Happy Hour Show this week to talk about his career and the excitement he has brought to over 1500 Live Sports Events around the world. 

Sports X Radio Ken Thompson Talks ACC, SEC Conference Football

Sports X Radio Ken Thompson Talks ACC, SEC Conference Football

Ken Thomson of Sports X Radio joins Tony George of www.docsports.com to break down, and have a discussion about the ACC / SEC Conference Football previews.

MMA-UFC Daily News 2019-05-15 Presents - The Fighters Take with Joe Tussing

MMA-UFC Daily News 2019-05-14 Presents - The Fighters Take with Joe Tussing. All the news every day in the UFC and MMA worlds straight from the back room at the training gym with former pro MMA fighter and trainer Hollywood Joe Tussing.

Syndicate