"It's a fraud" and "worse than tulip bulbs", Dimonsaid. This phrase is something of a shorthand for an economic bubble, a situation where an asset's price is far higher than its intrinsic value. That's a reference to the arrival and boom of the tulip plant in 17th-century Europe.
That wasn't it. Dimon said that if any JPMorgan traders were found trading Bitcoin they'd be fired right away. Besides, it may have a negative impact on all altcoins, such as Ethereum, and even blockchain-powered business models that do not directly deal with bitcoin. It fell by 4% after Dimon's comments. He called it a "fraud" and said he would fire any trader at the bank who touched it.
However, the banker revealed that his daughter had bought bitcoin: "It went up and she thinks she's a genius now".
However, according to the TheStreet, China is planning on launching its own digital currency that will trade on their exchanges. "I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down".
The virtual currency fell as low as $3,766.36 on Wednesday and traded down 8.7% at $3,792.43 as of 11:03 a.m.in NY, according to CoinDesk.
Bitcoin may be the buzzword of the year but some industry veterans are not buying into the hype.
However, he acknowledged that the blockchain, the " chain of blocks", a technology behind the bitcoin, was, it, useful, but its usages in the daily life would take a long time.
Dimon's warning occurred as the United Kingdom regulator Financial Conduct Authority (FCA) issued a warning to investors about the speculative activity occurring around ICOs.
This comes just a day after Citigroup CEO John Gerspach issued a similar warning. Also, we had news that one of the Chinese exchanges, bitkan, would be stopped OTC trading from Thursday.
Tropical storm conditions are possible on the Treasure Coast throughout the day Monday with showers and possibly a thunderstorm. Emera's Tampa Electric utility reported 300,000 homes and businesses lost power by Monday morning.
People swimming across a river near Laung Don village in northern Rakhine state as they travel towards the border with Bangladesh. Rohingya refugees making their way along a muddy path through a padi field after crossing the Bangladesh-Myanmar border.
Johnson rushed for 814 yards and three touchdowns in his first year with the team in 2015. " Andre [Ellington ] looked very good". Tight end Troy Niklas suffered the same injury as Logan and Johnson, and said he had been afraid that was Johnson's issue.
After discontinuing the product this spring, Nintendo has announced that it is bringing back the NES Classic Edition in 2018. Finally, Nintendo has heard our cries and confirmed that they would be re-releasing the #Nes Classic Edition in 2018.
The stock of Carrizo Oil & Gas Inc (NASDAQ:CRZO) has "Accumulate" rating given on Tuesday, October 20 by KLR Group. Macquarie Research maintained Smart Metering Systems PLC (LON:SMS) on Wednesday, June 28 with "Outperform" rating.
Downgraded to a tropical storm, Irma brings heavy rain, wind & isolated tornadoes to our area today , tonight and early Tuesday . But it stipulated, "Special events, such as Mickey's Not So Scary Halloween Party, will also take place".
Cwm Lc stated it has 652 shares. 186.07 million shares or 9.83% less from 206.35 million shares in 2016Q3 were reported. Oppenheimer reinitiated the shares of TEVA in report on Wednesday, December 7 with "Outperform" rating.
It increased, as 55 investors sold CVX shares while 689 reduced holdings. 86 funds opened positions while 273 raised stakes. Capital Research Global Investors increased its position in Microsoft Corporation by 212.3% during the second quarter.
Marco Rubio attack ad that aired after learning the actress they hired for the commercial was softcore porn veteran Amy Lindsay. The "like" caused the very explicit tweet from the account @ SexuallPosts to appear briefly on that portion of Cruz's profile.
Director Rian Johnson has made it clear that he has no intentions to helm " Episode IX " of the " Star Wars " franchise. Abrams has been confirmed to handle both writing and directing Star Wars: Episode IX .
Hope Hicks Replacing Scaramucci
Earlier this year, Hicks joined Jared Kushner and Ivanka Trump for Shabbat dinner at their Kalorama mansion, Politico reports . As long as Hicks doesn't give any "off the record" interviews with The New Yorker, she should have some better job security.