| Title | JPMorgan's Jamie Dimon Says Cryptocurrency a Fraud, Bound to Fail | |
| Date | Friday September 15 2017, @04:27AM | |
| Author | martyb | |
| Topic | ||
| from the check-back-in-ten-years dept. | ||
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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printed from SoylentNews, JPMorgan's Jamie Dimon Says Cryptocurrency a Fraud, Bound to Fail on 2024-05-21 22:36:36