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In a recent Reuters story http://www.reuters.com/article/us-usa-banks-conference-jpmorgan/jpmorgans-dimon-says-bitcoin-is-a-fraud-idUSKCN1BN2KP, JPMorgan's Jamie Dimon threw a bomb at the emerging cryptocurrency.
In the story he states, "The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart."
He goes on to compare Bitcoin to the 17th-century Dutch tulip bulb situation.
Is he right, or is he just shilling for the present system of imaginary-value fiat currencies?
[Separately, according to Bloomberg, Bitcoin has been on a five-day decline: Bitcoin Crashes After Chinese Exchange Says It Will Halt Trading. --Ed.].
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JPMorgan's Jamie Dimon Says Cryptocurrency a Fraud, Bound to Fail
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
Anyone can make an omelet with eggs. The trick is to make one with none.
(Score: 0) by Anonymous Coward on Friday September 15 2017, @09:21AM
He arguably never even got to the first step. Ignoring something is different than having never heard of it.
Most of everybody now knows what, at least in the general sense, Bitcoin is. And ignoring it is no longer working. Neither was mocking it. Now it's time to attack it.