Source: rss.wn.com
Bitcoin “is a fraud” and will blow up, according to Jamie Dimon, the chief executive of JPMorgan Chase. Speaking at a bank investor conference in New York on Tuesday, Mr Dimon said: “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.” Mr Dimon said that if any JPMorgan traders were trading the cryptocurrency: “I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.” Mr Dimon’s comments come as bitcoin, a virtual currency not backed by any government, has more than quadrupled in value since December to more than...

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