Bitcoin is a fraud says JPM boss
https://www.theguardian.com/technology/2017/sep/13/bitcoin-fraud-jp-morgan-cryptocurrency-drug-dealers
It should be remembered however, that this is coming from the CEO of the company that received a $12bn government bailout. https://dealbook.nytimes.com/2008/03/18/jpmorgans-12-billion-bailout/
The problem with Bitcoin, as I see it, is that it is a commodity and not a currency. It's largely like gold, except that gold has some use outside of being a means of speculation.
While I wouldn't be surprised if Bitcoin remains marginalized, what is more important is the role that blockchain technology will play in finance in the future.
It should be remembered however, that this is coming from the CEO of the company that received a $12bn government bailout. https://dealbook.nytimes.com/2008/03/18/jpmorgans-12-billion-bailout/
The problem with Bitcoin, as I see it, is that it is a commodity and not a currency. It's largely like gold, except that gold has some use outside of being a means of speculation.
While I wouldn't be surprised if Bitcoin remains marginalized, what is more important is the role that blockchain technology will play in finance in the future.
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