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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 mind is its own place, and in itself
Can make a Heav'n of Hell, a Hell of Heav'n.
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(Score: 3, Insightful) by VLM on Friday September 15 2017, @11:28AM
This closes the thread. The whole thing is a report of Pepsi reporting their opinion that Coke tastes bad.
With a side dish of the Trump effect where everyone respectable hates Dimon so what he's opposing must be the greatest thing since sliced bread; the Trump analogy is the absolute dregs of society hated him, news media, activists, etc, so obviously he's our guy because of who hates him; whats he stand for? Who cares as long as CNN hates him. Likewise bitcoin is good if Dimon and similar reptilians hate it.
Hmm what else... oh and Dimon is a bandwagon jumper, wait until a short term Chinese currency manipulation action starts, then, and only then, jump in. Oh how brave.