Topic: Bitcoin 'is a fraud' that will 'blow up,' FUD OR FACT - page 2. (Read 631 times)
Check him out on google, you'll see he is not to be taken seriously.
If we look at facts, well we can state it is NOT a fraud, for the simple reason that the "currency" itself cannot be a fraud, it's merely an item, albeit virtual, that people give value to.
There are plenty of frauds in the world of Bitcoin, and there are plenty of legitimate businesses and investments.
What the more "proper" question is, does it have legs to stand on, or will it blow up.
Short answer is, of course it will blow up. Just like any currency in the world. Even commodities do. Might be short term, long term, or the end of the current civilization. (for how many centuries were the roman currencies valuable?).
In the end, Bitcoin has value, now, because value is being given to it. Impossible to truly predict, also because human actions will affect the future of the system.
The smart thing to do? Exploit it to make the most out of it possible, and convert part of the gains as times goes on into a varied portfolio of wealth-protecting Investments/items.
There are plenty of frauds in the world of Bitcoin, and there are plenty of legitimate businesses and investments.
What the more "proper" question is, does it have legs to stand on, or will it blow up.
Short answer is, of course it will blow up. Just like any currency in the world. Even commodities do. Might be short term, long term, or the end of the current civilization. (for how many centuries were the roman currencies valuable?).
In the end, Bitcoin has value, now, because value is being given to it. Impossible to truly predict, also because human actions will affect the future of the system.
The smart thing to do? Exploit it to make the most out of it possible, and convert part of the gains as times goes on into a varied portfolio of wealth-protecting Investments/items.
Jamie whoever hasn't a clue about bitcoin. Other than it is an emerging threat to his bank. He is right to be scared.
Bitcoin 'is a fraud' that will 'blow up,' says JPMorgan Chase CEO Jamie Dimon
Is this a fact or he is just creating another FUD?
See the two sides below
"Speaking at a bank investor conference in New York, Dimon said, 'The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.'
"Dimon predicted big losses for bitcoin buyers. 'Don't ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.' he said. 'Honestly, I am just shocked that anyone can't see it for what it is.'
'Like it or not, people want exposure to bitcoin,' Edward Tilly, chairman and CEO of exchange group CBOE Holdings Inc., said at the same conference.
Any good trade is started with a difference of opinion, Tilly added. 'So Jamie can be on the short side and the issuers and those trading in physical can be on the long side, and it sounds like we have a great trade.'
Is this a fact or he is just creating another FUD?
See the two sides below
"Speaking at a bank investor conference in New York, Dimon said, 'The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.'
"Dimon predicted big losses for bitcoin buyers. 'Don't ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.' he said. 'Honestly, I am just shocked that anyone can't see it for what it is.'
'Like it or not, people want exposure to bitcoin,' Edward Tilly, chairman and CEO of exchange group CBOE Holdings Inc., said at the same conference.
Any good trade is started with a difference of opinion, Tilly added. 'So Jamie can be on the short side and the issuers and those trading in physical can be on the long side, and it sounds like we have a great trade.'
Jump to: