SoylentNews is people
SoylentNews is powered by your submissions, so send in your scoop. Only 19 submissions in the queue.
SoylentNews
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.].
This discussion has been archived.
No new comments can be posted.
JPMorgan's Jamie Dimon Says Cryptocurrency a Fraud, Bound to Fail
|
Log In/Create an Account
| Top
| 69 comments
| Search Discussion
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
Domestic happiness and faithful friends.
(Score: 2) by Grishnakh on Friday September 15 2017, @02:11PM (1 child)
Which "dollars" are you talking about? US Dollars, Australian Dollars, Canadian Dollars, or the Dollar of Taiwan, Hong Kong, Singapore, Belize, New Zealand, Liberia, Jamaica or Namibia?
Or are you talking about the Malaysian Dollar, Spanish Dollar, Rhodesian Dollar, or Zimbabwe Dollar, all of which are now defunct? Those last 4 really are worthless, so maybe that's what you're talking about. Yes, if have a pile of Zimbabwe Dollars [wikipedia.org], you might as well burn them, as they are quite worthless, except perhaps as a historical curiosity.
(Score: 2) by Virindi on Friday September 15 2017, @07:32PM
Of course I have Zimbabwe dollars.
Right now that 100 trillion dollar bill is adorning the wall, but I am just biding my time. Someday it will be worth a lot! After all, it is 100 trillion dollars.
Joking aside, I bought that bill for about $5 a few years ago. Looking at ebay sold listings, they are now going for $50. So percentage-wise, it is one of the best investments ever.