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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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Q: What do you say to a New Yorker with a job?
A: Big Mac, fries and a Coke, please!
(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.