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JPMorgan's Jamie Dimon Says Cryptocurrency a Fraud, Bound to Fail

posted by martyb on Friday September 15 2017, @04:27AM   Printer-friendly
from the check-back-in-ten-years dept.

Geezer writes:

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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  • (Score: 3, Flamebait) by Azuma Hazuki on Friday September 15 2017, @04:05PM (2 children)

    by Azuma Hazuki (5086) on Friday September 15 2017, @04:05PM (#568504) Journal

    Just curious, are you ever going to get a job, or does mommy subsidize you with free basement lodging and cheesy poofs?

    --
    I am "that girl" your mother warned you about...
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  • (Score: 0) by Anonymous Coward on Saturday September 16 2017, @05:39PM (1 child)

    by Anonymous Coward on Saturday September 16 2017, @05:39PM (#569045)

    what kind of stupid fucking slave defends the state?

    • (Score: 0) by Anonymous Coward on Sunday September 17 2017, @12:41AM

      by Anonymous Coward on Sunday September 17 2017, @12:41AM (#569207)

      One who realises bad is not the same as worst.