JPMorgan's Jamie Dimon: Bitcoin is a 'hyped-up fraud'

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[loficathedral]

The whole idea behind a pet rock, is that it would never die. Ironic

[oscarjiron]

Is it wise to purchase coins at this time? Will the price of bitcoin continue to fall this year despite widespread claims that the market is active? How soon will cryptocurrencies fully recover? To be totally honest, I have no idea how other traders in this market manage to generate gains of more than in a single year.

[marwan]

How do you know that it will stop at 21M? I’ll take that challenge! We know because it’s an open source project

[susanpaddock]

As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.

[natk]

Funny btc has a larger market cap than jp

[pka]

As he plans own coin offering. Lol. Scared totally.

[JeremyAlpha]

Everyday I ask people what makes it a fraud and no one can demonstrate any facts at all.

[DjVutra]

Banks are fraud, especially banks stocks. He just described what they do when they print more money out.😂

[franklinmangroo]

I just bought a little more btc after listening to old rich guys bash btc

[davidkeill]

CNBC is the Entertainment Tonight of financial journalism. No hard questions. Bitcoin source code is open source and no node operator would run a Bitcoin fork that increased the 21 million limit. Stupidity all around. Oh, and Dimon offers Bitcoin to his clients. Great guy.

[xprestonart]

Bitcoin does exactly what he just said blockchain is for…And whether he believes bitcoin has a limited supply is irrelevant. We know for sure that the fiat he deals in is grossly debased in perpetuity

[johnnywishbone]

He says this because if bitcoin succeeds banks don’t

[arigutman]

Bitcoin is absolutely valueless and love Dimon's response: Hyped-up fraud..

[MikeStillUK]

"bitcoin has all the characteristics of a store of value" -- Joe ain't wrong

[galkema]

Better name for this clip “Satoshi’s face will pop out of a screen and say Ha Ha!” That appears to be the basis of his argument.

[joshuaspruill]

This man is scared of the future and only talks bad about it when its down

[maurice]

I used to think Dimon didn't get it, but maybe he does get it. It just worries him that bitcoin will end up with a new world superpower.

[ChristopherWalkenPUA]

I remember when he said it was a fraud at

[eliseumalo]

All these old guys who stand to make no money in bitcoin all say it’s fake. Hmmm.

[michael]

Very embarrassing for him. Perhaps he should review the open source code of bitcoin so he can be confident in the 21M cap. Verify don't trust. Dimon doesn't get it at all. Please try to ban it so we can all see that you can't ban it...