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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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In Tulsa, Oklahoma, it is against the law to open a soda bottle without
the supervision of a licensed engineer.
(Score: 1, Funny) by Anonymous Coward on Friday September 15 2017, @09:25PM
So instead of gold, dollars have been lead backed all this time. And also plutonium and uranium, but as last resort.
So who said converting lead to gold was impossible? It was done in 1971! https://en.wikipedia.org/wiki/Nixon_shock [wikipedia.org]