Calling bubbles in real time is hard, but come on:
“The boxer’s endorsement of Centra, along with a similar endorsement from the popular rapper DJ Khaled, lent a patina of credibility to a project that has ended up with more than a few problems, including a chief executive who does not appear to have been a real person and a shaky, fast-shifting business plan.”
Met an Uber driver whose main job was investing…
He owns Western Sydney real estate and trades in cryptocurrencies that are not bitcoin.
(Explanation: bitcoin is too expensive.)
— John_Hempton (@John_Hempton) November 9, 2017
— Elaine Ou (@eiaine) November 16, 2017
Belfort himself [i.e. the ‘Wolf of Wall Street’], who served 22 months in prison for securities fraud and money laundering in 2000, said recently that ICOs were “a huge gigantic scam that’s going to blow up in so many people’s faces” and that “it’s far worse than anything I was ever doing.”