Home / Cryptocurrency video news tutorials and tips / Tone Vays: All Other Crypto Currency (Except Bitcoin) Is a Scam?

Tone Vays: All Other Crypto Currency (Except Bitcoin) Is a Scam?



Jason Burack of Wall St for Main St interviewed first time visitor, former Vice President at JP Morgan and Wall Street derivatives dealer, host of the Crypto Scam podcast & marketing consultant in Bitcoin, Tone Vays http://www.libertylifetrail.com/.

Tone’s Twitter: https://twitter.com/ToneVays
Tone’s YouTube channel that has over 60ok subscribers: https://www.youtube.com/channel/UCbiWJYRg8luWHnmNkJRZEnw

Tone has additionally not too long ago gave the impression in 2 new Bitcoin & block chain Technology documentaries: Magic Money & Beyond The Bubble.

Tone’s longer bio: Tone has labored on Wall Street for nearly 10 years beginning as a Risk Analyst at Bear Stearns and later turning into a VP at JP Morgan Chase within the aftermath of the 2008 monetary disaster. His experience is in Economic Trends, Trading and Risk Analysis. Ever since becoming concerned within the Crypto Currency ecosystem in early 2013, he has been very energetic in spreading the relevance and significance of this generation because it is helping advertise financial freedom. Tone used to be not too long ago featured in a Bitcoin Documentary – Magic Money. Tone is now an unbiased content material author at LibertyLifeTrail , on his YouTube Channel & InternationalCryptoCommunity thinking about sound economics & finance. Tone holds a Masters Degree in Financial Engineering from Florida State University in conjunction with Bachelor Degrees in Mathematics and Geology.

During this 40+ minute interview, Jason asks Tone about how Wall Street perspectives Bitcoin and block chain generation, if the Initial Coin Offering (ICO) bubble has popped but with the Securities & Exchange Commission (SEC) beginning to crack down and why Tone thinks that every one different crypto currencies (aside from Bitcoin) are a rip-off?

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43 comments

  1. yeap he's right..

  2. Friends don't let friends become Bitcoin Maximalists.

  3. Richard Ralph Roehl

    Cryptos on the block chain, especially those on a futures market or ETF like bitcoin, are NOT a store of value.

    And ALL cryptos are electronic digital FIAT currencies. Even worse… digital FIAT cryptos on the block chain are part of a long term bankster strategy to ELIMINATE ALL USE OF CASH… in order to monitor, record, regulate and tax everything that sheeple-people buy, sell and earn. Yesss! The "mark of the beast."

    The guest is either a fool idiot… or a $nake peddling poison. We know too much to get fooled here.

    RRR

  4. daedalus cardano

    Cardano's PoS Algorithm is Solved and so makes Bitcoin's PoW a luxury. A Luxury driving massive electricity waste, and so rendering Bitcoin old and outdated.

  5. Buy and hold Bitcoin (BTC). Hold Bitcoin until 2024. Sell BTrash (aka Bitcoin Cash, BCash) and all other altcoins but hold Bitcoin. Remember there is only one Bitcoin (BTC) and it's limited to 21 million units. All other coins are altcoins and there are an unlimited supply of those.

  6. Tone is a good guest.I think there’s actually a handful of good companies/ICO for example 0X (ZRX). If he’s comparing Bitcoin to TCP/IP then these alt-coins are like websites. That’s how I see it. There will always be a couple of good sites. ie Amazon (Edited)

  7. Donovan Miller

    Bitcoin is the slow, expensive version 1.0. Other coins are superior. Ltc will be the new King.

  8. Remember this guy is an accredited investor who trades derivatives. Derivatives are what brought down the housing in the us in 2008. He is the epitome of the establishment banker slime. While I agree many many things in the crypto space are scams he is a known liar. Saying bitcoin should be the only crypto and everything else is a scam is like saying silver is a scam because gold is the only money you need. Just like Andy Hoffman, they just don’t get it.

  9. Tone Vays is a complete moron, he is a trader and has zero, i repeat ZERO clue about the technology. Don‘t listen to this guy, he told people to sell BCH at 200$ and buy BTC. Huge loss.

  10. The Crypto Lizard

    This guy is an idiot and so is Wall street for Gay street!!!

  11. In a way I agree. Bitcoin is a real cryptocurrency. The bank of cryptos.

  12. Tone's just been around long enough to know why shitcoins are worthless

  13. CHOMEL Alexandre

    maximalist narrow sightseeing retard

  14. This guy serves his masters well.

  15. Interesting to hear this guy’s point of view but I disagree with half of what he said

  16. bitcoin is wall st bytch ever since dec 2017 chicago futures….EVERY FIAT RESETS TO GOLD 100 %…that's why 4 billion asians, indians, russians, europeans are BUYING GOLD…DO AS THEY DO NOT AS THEY SAY…

  17. Tone Vays can suck my dick, the guy advised against ETH since it’s inception and yet we saw ETH rally and gain mainstreaming notoriety and respect worldwide. Fuck tone vays Jason you’re better than this

  18. Philip Kennedy

    Great job Jason. No matter what one's opinion is on bitcoin, it's clearly the backbone of the cryptocurrency market. -Phil

  19. If gold isn't going to be included in the new currency, why are so many countries and central banks backing up the truck and loading up on it?

  20. Former V.p @jpm ? lol that's a tall drink of water.

  21. Hey Tone the market has spoken, Alt coins have value just look at the charts. I think you always say invest in the market you have not the one you want.

  22. Earnest Funship

    A maximalist. Makes some sense, and a lot of nonsense.

  23. All the understanding and vision of cryptocurrencies and blockchain are centralized within Tone Vays brain.

  24. chicagoelectricbicyc

    All cryptos are ponzi schemes. And why the hell would you want an open leger so everyone can see your transactions??

  25. Ugghh, I'm sorry I love ya stuff Jason. But Tone is about as accurate as water settling. He has NO CALLS just "maybe maybe maybe". And falls back onto the good old "well I use analysis and can only TRY to predict things. He DOESN'T EVEN TRY! He sells his trading courses and honestly Alessio is 1million times more educational for the Everage person.

    This guy is a train rider who if he hadn't met Jimmy Song would still be trading and hatin'on BTC. he doesn't even UNDERSTAND fundamentals of any technology. He's a trader who HODLS!

    He understands what crypto currency can change in the world but nothing more, he's a simplton in the space.

    Case and point 'Stellar' is a non profit, DECENTRALIZED, coin, that has a speed of 4,000 transfers per second to Bitcoins 3 transfers per second.

    BOTH of the coins will be implementing the lightning network. Which means ANYTHING Bitcoin can do Stellar can do better!!

    But this said Bitcoin will always remain the gold of crypto, it doesn't mean oil or copper or platinum are all scams etc…
    He's a dumbass and sells his own agenda!

  26. somehow Tone has been in this space for X amount of time and cant define a blockchain

  27. It is funny that he is so much in denial, because Bitcoin is the biggest scam of them all

  28. Bankers do fraud best. Especially some ass hat from JP Morgan. Fyck off asshole.

  29. Mr. Tone deaf is a scam artist.

  30. When energy, labor and materials were cheap and plentiful, equities were the way to go because they were backed by wealth creating factories, but now this is increasingly diffcicult, and financialization to preserve the traditonis a false promise. Wealth preservation is now the default long term survival strategy and PM and hard assets begrudgingly will become the fall back position.' Instead of the WW2 blitzkreig growth and wealth creation , incredibly we will be thrust back into trench warfare of WW1 of trying to keep what we have from being confiscated whether thru taxation, inflation, lack of credit etc.

    Gokd and crypptos will be lime th search for alien life. We know it's out there, but we will never be able to verify because of time and distance. Gold and crypto will never be able to combine the desireable properties of both. Some sort of backing which in this world of metal detectors, cross border checks at airports in this age of intercontinental travel, the false promise of a centralized gold depository in HK, Singapore, Vancouver or NY with allocated

  31. No, ALL cryptocurrencies INCLUDING bitcoin are a scam due to absolutely fundamental and irreparable flaws.

    Digital 'Currencies' Are ALL A Scam
    2017-06-17 08:35 by Karl Denninger

    https://cryptorum.com/threads/karl-denninger-says-digital-currencies-are-all-a-scam.217/

  32. He makes good points here, I don't agree his point against any centralization being worthless. Something can be said about organization, otherwise you move at a snails pace, 10000 people going in their own direction. I think Dash is supreme, and no I don't work for Dash. But they seem to get things done, I mean, all I ever hear is "soon as we get this lightening network. .." blah blah blah

  33. Fiat is a fiat. Computer encrypted, is "Crypto". Block chain (of evidence) is a Loser-feian trap. Revelation 13 in the works. Like Facebook. Government created computing, and ARPA(Inter)net. What, about UID, and "Address" don't you understand??? Disinfo is government. Flagging, and cancelling Block chain compartments is "Easy Peasy". If you can't hide it, you can't control/own it.

  34. Tone Vays is mostly correct. Room for maybe 1 dominant privacy coin (monero) until bitcoin can integrate privacy and 1 or 2 dapp platforms that make decentralization sacrifices to perform the network function, but not the store of value/ money function. See EOS, ADA or ETH running a semi-decentralized internet, but the common unit of value exchange will be bitcoin still. Investing in the apps on these networks through ICOs is way too early. Invest in bitcoin, monero and leading platforms.

  35. ALL SCAM BULLSHIT, You will be using the FED COIN or get a LEAD PILL !!!

  36. ALL SCAM BULLSHIT, You will be using the FED COIN or get a LEAD PILL !!!

  37. ALL SCAM BULLSHIT, You will be using the FED COIN or get a LEAD PILL !!!

  38. S Venkateswaran

    I think Tone is being pragmatic. The idea that we are just going to have people spending money on whatever they please anonymously without any regulation is nonsense. While regulation is clumsy and bureaucratic, you can't have transactions for child trafficking or terrorism on an anonymous chain. Makes sense to have segregated chains that are centralized, monitored, and taxed properly and eventually go on the main block. As far as moving money directly on the block, that wouldn't be a big incentive due to high transaction costs and inefficiency hence it wouldn't be economical aside from one time, large P2P transactions.

  39. Tone is 100% right bitcoin is the internet of money. We have one internet we will have one internet of money and that is bitcoin.

  40. Gold and silver should be in the hands of the people !! circulating as MONEY !! NO paper notes because they ALWAYS PRINT MORE THAN THE GOLD AND SILVER THEY HAVE !  Most people are BRAINWASHED to think we need a bank to hold the Gold because its SO HEAVY and inconvenient OR that there is not enough !  What a load of B.S. To find  the true value you take the paper money and divide by the Gold and Silver !  Now Gold would be somewhere between $10,000 to $40,000 per OZ and Silver would be $200 to $3000 OR MORE per OZ !  Now a TINY DIME will buy a case of beer ! (craft beer) So you don't want to carry cash ?  You would still be able to have a debt card so what's the problem with Gold and Silver circulating as Money just like it used to before everybody was brainwashed !!!  https://www.youtube.com/watch?v=ffsKuhrkwtoRead

  41. Don't buy the HYPE ! For every winner there are TONS of losers !  Crypto currency is the BANKSTERS WET DREAM !  The CASHLESS MONATARY SYSTEM  !   WAKE UP ! https://www.youtube.com/watch?v=bFDSeXU76zM and https://www.youtube.com/watch?v=mq0cX1gxYU8&t=2253s

  42. Roger Carpenter

    Not convinced. Where can I buy my food with bitcoin?

  43. Has he met Satoshi?

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