
Jamie Dimon Slams Bitcoin as a ‘Fraud’ - peterkshultz
https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin
======
merricksb
Previously:

[https://news.ycombinator.com/item?id=15229765](https://news.ycombinator.com/item?id=15229765)

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wyc
It seems that his staff feel ambivalent about his comments:

JPM Blockchain Lead: "¯\\_(ツ)_/¯"

[https://twitter.com/AmberBaldet/status/907675559492288512](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](https://twitter.com/agurevich23/status/907692985424371712)

Got these sources from Fortune's Term Sheet:

[http://fortune.com/tag/term-sheet/](http://fortune.com/tag/term-sheet/)

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al2o3cr

        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...

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brndnmtthws
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...](https://dealbook.nytimes.com/2008/03/18/jpmorgans-12-billion-
bailout/)

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

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

~~~
jacknews
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.

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

~~~
readhn
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.

~~~
koolba
To clarify, I didn't mean a generic " _BTC is a bubble..._ " headline.

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

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readhn
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.

