Jamie Dimon Slams Bitcoin as a ‘Fraud’ | Hacker News Reader

Jamie Dimon Slams Bitcoin as a ‘Fraud’

bloomberg.com

14 pointspeterkshultz10 comments

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Previously:

https://news.ycombinator.com/item?id=15229765

It seems that his staff feel ambivalent about his comments:

JPM Blockchain Lead: "¯\_(ツ)_/¯"

https://twitter.com/AmberBaldet/status/907675559492288512

Former JPM Director of Global Macro: "Jamie, you're a great boss and the GOAT bank CEO. You're not a trader or tech entrepreneur. Please, STFU about trading $BTC."

https://twitter.com/agurevich23/status/907692985424371712

Got these sources from Fortune's Term Sheet:

http://fortune.com/tag/term-sheet/

    In bitcoin’s case, Dimon said he’s skeptical authorities will
    allow a currency to exist without state oversight, especially
    if something goes wrong.

Mah dude, if "state oversight" always worked when "something goes wrong" you'd have been making this statement from your cell...

Let's not forget their $12bn bailout[1] (closer to $14bn in today's dollars), and also the long string of controversies[2].

Jamie Dimon doesn't have much credibility. JPMorgan hasn't exactly been altruistic under his rein.

[1]: https://dealbook.nytimes.com/2008/03/18/jpmorgans-12-billion...

[2]: https://en.wikipedia.org/wiki/JPMorgan_Chase#Controversies

What does any of that have to do with the long-term viability of one particular cryptocurrency?

obviously because his credibility as an 'impartial' analyst is in question.

BTW, I'm guessing he pronounces his surname as "Diamon(d)", not "Demon", though I suppose both are rather suitable names for an investment banker.

This is the fourth or fifth time I've seen this headline posted to HN.

if you look at the BTC chart you'll understand why.

there were plenty of voices warning of RE crash and market crash back in the 2000's ... some were years too early. for most its impossible to get the timing right.

To clarify, I didn't mean a generic "BTC is a bubble..." headline.

I meant this specific headline regarding Dimon's recent comments.

at this point i agree its similar to tulip mania and its going to collapse there is no "ifs" just when it will happen.

that said there is utility in bitcoin mechanism. the value of the mechanism is the questionable part.

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