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Eugene

(61,592 posts)
Tue Sep 12, 2017, 04:08 PM Sep 2017

JPMorgan's Dimon says bitcoin 'is a fraud'

Source: Reuters

#FINTECH SEPTEMBER 12, 2017 / 2:14 PM / UPDATED A HOUR AGO

JPMorgan's Dimon says bitcoin 'is a fraud'

David Henry, Anna Irrera
3 MIN READ

NEW YORK (Reuters) - Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co (JPM.N), said on Tuesday.

Speaking at an investor conference in New York, Dimon said, “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.”

Dimon said that if any JPMorgan traders were trading the crypto-currency, “I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”

Dimon’s comments come as the bitcoin, a virtual currency not backed by any government, has more than quadrupled in value since December to more than $4,100.

-snip-


Read more: http://www.reuters.com/article/us-usa-banks-conference-jpmorgan/jpmorgans-dimon-says-bitcoin-is-a-fraud-idUSKCN1BN2KP
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JPMorgan's Dimon says bitcoin 'is a fraud' (Original Post) Eugene Sep 2017 OP
Well I guess the guy who was running a company fined $1 billion would know what a fraud is... PoliticAverse Sep 2017 #1
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