Bitcoin Slides After Dimon Doubles Down On Cryptocurrency Concerns: "It Will End Badly"
bitcoin·@zer0hedge·
0.000 HBDBitcoin Slides After Dimon Doubles Down On Cryptocurrency Concerns: "It Will End Badly"
<html> <p>Just a <a href="http://www.zerohedge.com/news/2017-09-12/bitcoin-tumbles-after-jamie-dimon-calls-it-fraud-would-fire-anyone-trading-it">week after Jamie Dimon first attacked Bitcoin</a> for being a "fraud," the self-interested <strong>JPMorgan CEO has doubled down on his anti-crypto-currency tirade</strong>, somewhat exposing just how concerned he is at the potential for disruption within his industry.<br> <br> To paraphrase, here's what Dimon said last week...</p> <blockquote><em><strong>"It’s a fraud. It’s making stupid people, such as my daughter, feel like they’re geniuses. It’s going to get somebody killed. I’ll fire anyone who touches it."</strong></em></blockquote> <p><em><strong>http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/09/15/20170916_BTC2.jpg</strong></em><br> And now, <a href="https://www.cnbc.com/2017/09/22/bitcoin-jpmorgans-jamie-dimon-lays-into-bitcoin-again.html">as CNBC reports</a>, JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, labeling it a "novelty" that is likely to end badly.<br> <br> <a href="https://www.cnbc.com/video/2017/09/22/eventually-governments-will-close-down-cryptocurrencies-jpmorgan-ceo.html?__source=cnbcembedplayer">Eventually governments will close down cryptocurrencies: JPMorgan CEO</a> from <a href="http://www.cnbc.com/?__source=cnbcembedplayer">CNBC</a>. </p> <blockquote><strong>"Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more governments are going to close them down,"</strong><br> <br> Dimon said during an interview with CNBC-TV18 in New Delhi, India, on Friday. Dimon was concerned that with bitcoin, ethereum and various Initial Coin Offerings (ICOs), there are now cryptocurrencies everywhere.<br> <br> <em><strong>"It's creating something out of nothing that to me is worth nothing," he said. "It will end badly."</strong></em><br> <br> Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market.</blockquote> <p>And this has pushed Bitcoin lower (extending losses from BTC China liquidations ahead of its closure)<br> http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/09/18/20170922_btcc.jpg</p> <p>Dimon's comments came under criticism from several bitcoin investors and experts.</p> <blockquote><strong>"Comments like Jamie's show a failure to grasp the significance of the blockchain and the power of brand in a fundamental sea of change,"</strong> said Scott Nelson, CEO and chairman of blockchain firm Sweetbridge, in an email to CNBC last week.</blockquote> <p><a href="http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments">And as we reported previously,</a> a company called <strong>Blockswater has filed a market abuse complaint in Sweden against Dimon and JPMorgan.</strong>Blockswater claims Dimon deliberately spread false and misleading information, according to a report by City A.M.And perhaps even more interesting, <a href="http://www.zerohedge.com/news/2017-09-16/if-jamie-dimon-hates-it-so-much-then-why-jpmorgan-buying-bitcoin-europe">as we detailed before</a>, JPMorgan Securities continues to allow clients to trade this 'fraudulent' security through its platform.<br> <br> A<a href="http://www.zerohedge.com/news/2017-09-16/if-jamie-dimon-hates-it-so-much-then-why-jpmorgan-buying-bitcoin-europe">s we asked rhetorically previously</a>, <em><strong>does the bank not have a fiduciary duty not to transact on clients' behalf in a security it defines as fraud? (like Subprime CDOs?)</strong></em><br> <strong><br> Source</strong> : http://www.zerohedge.com/news/2017-09-22/bitcoin-slides-after-dimon-doubles-down-cryptocurrency-concerns-it-will-end-badly<br> <br> <strong>Disclaimer</strong> : This is not the real Tyler Durden! I read ZeroHedge every day to find the one or two best articles and reformat them for Steemit. I appreciate the upvotes but consider following the account and resteeming the articles that you think deserve attention instead. Thank you! Head over to ZeroHedge.com for more news about cryptocurrency, politics and the economy.</p> </html>
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