On September 27, 2017, The Street shared Jordan Belfort’s thoughts on cryptocurrency. In his assessment, bitcoin is not a great model. “Being backed by nothing other than a program that creates artificial scarcity, it seems kind of bizarre to me that it really could ever be sustainable forever,” said Belfort. His concern echoed a common refrain about bitcoin’s lack of formal backing and spoke to the absence of real-world applications on the bitcoin blockchain. Basically, what is bitcoin useful for other than as a socially contrived store of value?
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