J.P. Morgan’s Jamie Dimon says bitcoin is a ‘terrible store of value’
The biggest U.S. bank by assets does not like bitcoin, to put it mildly.
J.P. Morgan Chase & Co. JPM Chief Executive Jamie Dimon told CNBC on Thursday that bitcoin is a “terrible store of value.”
The question isn’t whether the the bank accepts bitcoin, said Dimon. “The question is do we even participate [with] people who facilitate bitcoin,” he said on the sidelines of Davos.
Bitcoin is a digital currency that exists without a central bank. It is created through a process called mining, in which computers race against each other to solve cryptographic problems and win blocks of bitcoin. Bitcoin was thrust into the mainstream lexicon in 2013 as it surged from $13 in January 2013 to more than $1,000 late last year and was the subject of Senate hearings.
http://blogs.marketwatch.com/thetell/2014/01/23/j-p-morgans-jamie-dimon-says-bitcoin-is-a-terrible-store-of-value/
The biggest U.S. bank by assets does not like bitcoin, to put it mildly.
J.P. Morgan Chase & Co. JPM Chief Executive Jamie Dimon told CNBC on Thursday that bitcoin is a “terrible store of value.”
The question isn’t whether the the bank accepts bitcoin, said Dimon. “The question is do we even participate [with] people who facilitate bitcoin,” he said on the sidelines of Davos.
Bitcoin is a digital currency that exists without a central bank. It is created through a process called mining, in which computers race against each other to solve cryptographic problems and win blocks of bitcoin. Bitcoin was thrust into the mainstream lexicon in 2013 as it surged from $13 in January 2013 to more than $1,000 late last year and was the subject of Senate hearings.
http://blogs.marketwatch.com/thetell/2014/01/23/j-p-morgans-jamie-dimon-says-bitcoin-is-a-terrible-store-of-value/
J.P Morgan is telling everyone BTC is bad because they patented their own!
My girlfriend works for a SunCorp financial in AU and recently her marketing team was given a task to implement a rewards system to attempt to get the millennial age group to use credit cards with incentives with a rewards system that would possibly give you X amount of BTC for each purchase of gas, food and so forth, like the rewards system for Bank Of America, those fictitious points could be Bitcoin in the future! Economics drive politics !
