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

 
Waffles ™
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09/12/2017 08:04 PM

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JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said.
Bitcoin fell to trade around its session lows after Dimon's comments.
Dimon's criticism comes at a time when some well-known figures on Wall Street are starting to embrace the cryptocurrency.


Jamie Dimon: Governments look at bitcoin as a novelty

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."

Dimon also said he'd "fire in a second" any JPMorgan trader who was trading bitcoin, noting two reasons: "It's against our rules and they are stupid."

Bitcoin fell to its session lows after Dimon's comments. As of 3:01 p.m. in New York, bitcoin traded at $4,106.23, down 2 percent.

Dimon's criticism comes at a time when some of the most well-known figures on Wall Street are starting to embrace the cryptocurrency.

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shazzbot34
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Anonymous Coward
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09/12/2017 08:12 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Guaran-fuckn-teed that cocksucker shorted it before he said that shit. He's got a bullhorn on the trade floor.
Anonymous Coward
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09/12/2017 08:14 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Guaran-fuckn-teed that cocksucker shorted it before he said that shit. He's got a bullhorn on the trade floor.
 Quoting: Anonymous Coward 69898164


Via proxy of course
Searchalot

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09/12/2017 08:23 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Lol.. As if any currency is real.
I'm not your enemy, you are...
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The Comedian :D

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09/12/2017 08:23 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
They fear what they cannot control.
 Quoting: ^TrInItY^


It's not fear.

It's hatred.

You know, the entitled when they don't receive their entitlement of authority.

He sounds just like Crooked Hillary on Losing Night.

Last Edited by The Comedian :D on 09/12/2017 08:24 PM
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Anonymous Coward
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09/12/2017 08:25 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
It's most likely Charlie Lee's tweet that said China was going to ban crypto exchanges that caused the dip. I don't think Dimon's comment had anything to do with it, bankers have been singing the same tune for years how's his comment any different?
Sikhed

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09/12/2017 08:34 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
I'm not a crypto fan at all.

But that CEO is just a moran if he says he'd fire any employee who's trading bitcoin "because it's stupid".

His employees work the markets to make him money. That's their purpose. And BTC has appreciated exponentially.

I take that back, he's not a moran. He's working the MSM to make him money on the cryptos he (and his company) are trading.
:doom360:
Anonymous Coward
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09/12/2017 08:35 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
time to buy more litecoin.


dynamite
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09/12/2017 08:37 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
It's most likely Charlie Lee's tweet that said China was going to ban crypto exchanges that caused the dip. I don't think Dimon's comment had anything to do with it, bankers have been singing the same tune for years how's his comment any different?
 Quoting: Anonymous Coward 75110410

Believing any of these fools are capable of causing a dip based of of a tweet is pure stupidity at this point. The entire thing, all of it, is under INTENSE manipulation by a network of people who are currently making a shitload of money from what they do. This is why almost all of the coins and currency tank/dip at the same time (with some exceptions).

As someone who is heavily invested in crypto, I don't say this to keep people away, I'm just saying it's a fucking free for all...still. BUT shit is going to get better and better and don't buy any of the "it's a fraud" bullshit random fake assholes say.
Anonymous Coward
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09/12/2017 08:37 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Well that settles it, Im getting into CC! Jamie sealed it!
Anonymous Coward
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09/12/2017 08:38 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Well that settles it, Im getting into CC! Jamie sealed it!
 Quoting: Anonymous Coward 22133020

Exactly.
Anonymous Coward
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09/12/2017 08:39 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Middlemen are the scum of the earth. The absolute worst. If someone has the title "broker" it means they are literally evil.
Anonymous Coward
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09/12/2017 08:40 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Bitcoin is the carrot given by the elite to sheeple to lure them away from currencies controled by NATIONS to currency controled by ?, the invisible entities who control the cryptos clandestinely and run things as a one world dictatorship! He who controls the money, controls the world. You are being duped into thinking this is a unfettered system but au contraire, this is about the ultimate end game in planetary control!
Welcome to the new slave planet, earth, and you won't like it one little
BIT(coin)!
Anonymous Coward
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09/12/2017 08:41 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
the criminals are losing control... day scared..really scared
Anonymous Coward
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09/12/2017 08:44 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Bitcoin is the carrot given by the elite to sheeple to lure them away from currencies controled by NATIONS to currency controled by ?, the invisible entities who control the cryptos clandestinely and run things as a one world dictatorship! He who controls the money, controls the world. You are being duped into thinking this is a unfettered system but au contraire, this is about the ultimate end game in planetary control!
Welcome to the new slave planet, earth, and you won't like it one little
BIT(coin)!
 Quoting: Anonymous Coward 74542688

Don't doubt this, either. Question everything, trust no one.
Anonymous Coward
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09/12/2017 08:44 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
A fraud calling it a fraud.. how ironic
Anonymous Coward
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09/12/2017 08:45 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Bitcoin is the carrot given by the elite to sheeple to lure them away from currencies controled by NATIONS to currency controled by ?, the invisible entities who control the cryptos clandestinely and run things as a one world dictatorship! He who controls the money, controls the world. You are being duped into thinking this is a unfettered system but au contraire, this is about the ultimate end game in planetary control!
Welcome to the new slave planet, earth, and you won't like it one little
BIT(coin)!
 Quoting: Anonymous Coward 74542688


Right because we are all sheep and you are the one in
The know living in your parents basement. Just stfu already please.
Kraut the Deplorable

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09/12/2017 08:46 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Sounds like he wants to put a hit on somebody.
Never forsake a Kraut for the sake of forsaking a Kraut
Anonymous Coward
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09/12/2017 08:47 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Obviously he doesn't like competition " bankers" nor do these evil governments. huffy
Anonymous Coward
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09/12/2017 08:48 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
the criminals are losing control... day scared..really scared
 Quoting: Anonymous Coward 75309570


Exactly, this is pure MSM fed propaganda against anything that competes with their overblown fiat dollar. Talk about "blowing up"...WE'RE IN $20 TRILLION DEBT ON FIAT CURRENCY! What is this idiot Dimon talking about?!?
Anonymous Coward
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09/12/2017 08:48 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Lol.. As if any currency is real.
 Quoting: Searchalot


agent
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09/12/2017 08:49 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Decentralized blockchain cryptocurrency is the antithesis of central bank control.
Anonymous Coward
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09/12/2017 09:01 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Bitcoin is backed by Computing energy, whereas the dollar is backed by nothing.

Creating a bitcoin has an energy cost and a computing cost on the supply side, therefor bitcoin has a value which can be calculated a lot more easily than the dollar value,

The anonimity aspect of bitcoin will eventually disappear as wallets get regulated.

Bitcoin is actually threatening the Dollar, since it is backed by nothing but thin air, so the real tulip bulbs are not the bitcoin but the printing press of the FED.

Demand for bitcoin will continue to grow and as it will get regulated people will be able to get payed in bitcoin by their employers if they so which.

As the dollar will continue to decrease in Value, demand and usage of bitcoin will continue to go up, the spreads will improve.

Buy the dip.
The Voice Of Reason
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09/12/2017 09:06 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
They fear what they cannot control.
 Quoting: ^TrInItY^


^^This

Check out OMG (OmiseGo)
Anonymous Coward
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09/12/2017 09:13 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
you want cheap and make some HUGE MONEY WITHIN 2 DAY? BitShares (BTS)
Waffles ™  (OP)

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09/12/2017 09:18 PM

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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
If you could exchange bitcoin for physical gold and silver itd be a much easier sell,,im not a big fan of it as i suspect its a Darpa/CIA project and just another nail in our enslavement coffin,they'll be able to trace track and tax all purchases made with digital money..
but if somebody comes out with a crypto backed by real gold and silver and has the govt's blessing that'd be the one to watch..(Goldman Sachs patent?)
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FHL(C)

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09/12/2017 09:23 PM

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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Thank You Lord for Jamie Dimon's deliverance and salvation, and enough subsequent time after that to reveal the actual financial and power trails to the rothschilds, jesuits and talmudic kabbalists, with no obfuscation, especially via free masonry or religion, in YAHshua/Jesus name amen
YAHshua is the sound of His Name in English, YAH is short form of YHVH, Name above all names.
FHL(C)

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09/12/2017 09:25 PM

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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
If you could exchange bitcoin for physical gold and silver itd be a much easier sell,,im not a big fan of it as i suspect its a Darpa/CIA project and just another nail in our enslavement coffin,they'll be able to trace track and tax all purchases made with digital money..
but if somebody comes out with a crypto backed by real gold and silver and has the govt's blessing that'd be the one to watch..(Goldman Sachs patent?)
 Quoting: Waffles ™


China has indicated its big four banks intend doing such, with their own cryptos, currently they are shutting down on all other not backed by governments
YAHshua is the sound of His Name in English, YAH is short form of YHVH, Name above all names.
Anonymous Coward
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09/12/2017 09:28 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
Jamie Dimon is a fraud who should be thrown in jail for white collar crimes against humanity.
Waffles ™  (OP)

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09/12/2017 09:35 PM

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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
you want cheap and make some HUGE MONEY WITHIN 2 DAY? BitShares (BTS)
 Quoting: Anonymous Coward 75309570


you want to make some money? all you have to do is send money to a number of people on a list that is received with the letter. You then add your name to the bottom of the list. Next, you send out a similar letter hoping that other people will respond.
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Anonymous Coward
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09/12/2017 09:45 PM
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Re: JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will eventually blow up
That's cute. He is scared.





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