JP Morgan says Bitcoin is fraud and will blow up ????

[Jmmerquita]

how can BITCOIN fail wherein it created a humuguos amount of community? China is a big player why it's value is dropping. But take note there are factors as well why bitcoin will soar high up to $5,000 this year.

[cryptopass]

J.P Morgan's Dimon says bitcoin is fraud and will blow up. This statement is not true, because it is accepted by govt of most of the countries and it is listed by so many stock exchanges. So many exchangers have been generated in almost all the countries.It easy medium of investment.There is probablity for banking industry to increase earning by the way of exchanging bitcoins if they are the bitcoin exchangers. In one word J.P Morgan is trying to lose its own business by criticizing bitcoins.

[chaser15]

guys im so disappointing , china government baned crypto and  bit coin price is going down and ive read this too ... what do you guys think  ??

//The CEO of JPMorgan Chase Jamie Dimon has denounced the bitcoin cryptocurrency as a fraud, bound to fail.

“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 said at a bank investor conference in New York.//

JPMorgan is a big company but who the hell cares for their comment? It can create FUD but no way they can crash bitcoin price with just their mouth. Clearly those people care for their own institution and will not look for the positive sides to the things they didn't want.

First they try to destroy you, then they try to imitate you. At the end they join you

Yes that will make sense.

[smokeydog]

guys im so disappointing , china government baned crypto and  bit coin price is going down and ive read this too ... what do you guys think  ??

//The CEO of JPMorgan Chase Jamie Dimon has denounced the bitcoin cryptocurrency as a fraud, bound to fail.

“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 said at a bank investor conference in New York.//

JPM is a bank, why would you expect Dimon to say anything else?  Running JPM means there is no way he has the time to dig in and learn what makes Bitcoin work.   Does he understand asymmetric key pairs, digital signatures, hash algorithms?  People like Dimon will come around if things go well.   The real threat is going to be the US Congress and the Federal Reserve Bank.  As soon as they figure out that the exchanges are  the single point of entry for most, they will attack.  Unless I can use Bitcoin for commerce with every day items, the exchanges are the only way to get money in or out for any thing I need.   At this point it's just a tool for speculation.  Congress has the power to keep bitcoin in the arena of the blackmarket and money laundering.  Anyone who thinks differently needs to look at history.  Congress has become a monster and bitcoin is in no position to challenge it.

[igor245891]

I don't think it will happen, BTC is long term

[reliable]

how can BITCOIN fail wherein it created a humuguos amount of community? China is a big player why it's value is dropping. But take note there are factors as well why bitcoin will soar high up to $5,000 this year.

Yes no doubt bitcoin is being there from past 9 years now and the reason why I feel that JPM CEO said that bitcoin is fraud because the way prices were kept on rising after 1st Aug event. It was continuous one side upward movement and thus he would have felt that this is nothing more than bubble and does not have any base to exists in future.

[onlineportal]

how can BITCOIN fail wherein it created a humuguos amount of community? China is a big player why it's value is dropping. But take note there are factors as well why bitcoin will soar high up to $5,000 this year.

Bitcoin will be worth approximately$ 5,000 in early 2018, will continue to be a small increase

[Carlsen]

This is only one part of what he said.
The media mainly refer on his statement that in his eyes bitcoin is a fraud.
But he said as well that bitcoin  can go up to 100K! In the same interview. That point is mostly missing in the news I read.
I guess bad news just sell better...