Actor and Conservative Twitter personality, James Woods, was slammed by Twitter users after defending his belief that Bitcoin is a "scam."
"I endured a Twitter shellacking last year when I ridiculed the #Bitcoin scam. In an act of good grace, however, I won’t say “I told you so,” Woods Tweeted Thursday. "I’ll just offer this helpful info to those #Bitcoin champions who lost over a BILLION dollars last year."
Woods' Tweet pointed to a report that details the substantial losses investors took while bitcoin retreated from its all-time high at the start of last year.
To put it lightly, it appears that the actor took another "shellacking" as bitcoinists and sound money proponents quickly jumped to shoot down the "scam" assessment ...
You can read more responses HERE.
While it is true that Americans lost $1.7 billion in 2018 on their bitcoin investments, it is much easier to judge a new technology on its price action rather than its fundamental utility.
Not to mention that bitcoin wasn't alone in the 2018 pool of red. It was also joined by the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite.
James Woods is a winner of numerous best actor awards and has become a well circulated conservative pundit who is often criticizing the Democratic party in the United States.