Ignorant JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up

in #bitcoin7 years ago

From CNBC


Jamie Dimon: Governments look at bitcoin as a novelty Jamie Dimon: Governments look at bitcoin as a novelty 3 Hours Ago | 01:45 JPMorgan Chase CEO Jamie Dimon took a shot at bitcoin, saying the cryptocurrency "is a fraud."

"It's just not a real thing, eventually it will be closed," Dimon said Tuesday at the Delivering Alpha conference presented by CNBC and Institutional Investor.

Dimon joked that even his daughter bought some bitcoin, looking to cash in on a trend that has seen it soar more than 300 percent this year.

"I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down," he said. "This is not advice of what to do. My daughter bought bitcoin, it went up and now she thinks she's a genius."

In an appearance at a separate conference earlier in the day, Dimon said bitcoin mania is reminiscent of the tulip bulb craze in the 17th century.

"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said at a banking industry conference organized by Barclays. "Currencies have legal support. It will blow up."

Read the full article here: https://www.cnbc.com/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html

Well, the one thing Jamie Dimon proved today was he either doesn't understand what bitcoin is or what fraud is. I would bet on the former. These seem to be the words of a man who is very afraid of a future he does not understand. His industry is being disrupted and his anxiety is getting the better of him.

fraud
frôd/Submit
noun
wrongful or criminal deception intended to result in financial or personal gain.
"he was convicted of fraud"

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I agree that he is wrong. But I don't understand how can a comment from a bankster cause the cryptocurrency market to go south!!!

Why should we care about what he says ?!

That's ignorant

I would say taking billions in bailout money, even when you know what flooding the money supply would actually do to your client's wealth is MORE in line with the definition of fraud than anything else.

yeah, they caused "The 2008 crash", then they got bailout from taxpayers money, and straight couple years down the line, those bankers started getting huge bonuses, despite some banks were still making losses, and the economies were not recovering that fast.
This is just sad, very sad situation when governments and bankers are manipulating those masses, and casual people being in a "sheep" position just following each other, without doubts, or questioning the system....
(sorry if I offended anyone, with my saying sheep).

Dimon is a bankster...bet the ranch that he and/or JPM are buying bitcoin and whatever other currencies they can.

Dont trust what these people at all...they say one thing while doing the exact opposite on the other side of the building.

Dimon has been at the helm of JPM for a long time...he is well schooled at scamming the general public and average investors.

Awww man this gave me a good laugh.

The lightbulb he has is on the fritz... smh

your post not bad.

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