Money Bitcoin tanks 11.5% since Jamie Dimon called it 'a fraud'

07:36  14 september  2017
07:36  14 september  2017 Source:   businessinsider.com.au

Australia set for an explosion of Bitcoin ATMs

  Australia set for an explosion of Bitcoin ATMs A joint venture between two digital currency companies could see Bitcoin enter the mainstream.A joint venture between blockchain firm DigitalX and ATM provider Stargroup could see a "large-scale" rollout of machines that allow Australians to buy and sell Bitcoin.

Bitcoin has fallen more than 11% since Jamie Dimon , the CEO of JPMorgan, bashed the cryptocurrency on Tuesday at the Barclays Financial Services Conference, calling it " a fraud " that would eventually blow up.

Bitcoin has fallen more than 11% since Jamie Dimon , the CEO of JPMorgan, bashed the cryptocurrency on Tuesday at the Barclays Financial Services Conference, calling it " a fraud " that would eventually blow up.

Screen Shot 2017 09 13 at 10.35.29 AM© Provided by Business Insider Inc Screen Shot 2017 09 13 at 10.35.29 AM Bitcoin continues to slide Wednesday as uncertainty and criticism against the red-hot cryptocurrency mount.

The cryptocurrency was down over 9% Wednesday morning at $US3,767 a coin, just eleven days after crossing the much-anticipated $US5,000 threshold.

Bitcoin has fallen more than 11% since Jamie Dimon, the CEO of JPMorgan, bashed the cryptocurrency.

On Tuesday, the 61-year-old banker said at the Barclays Financial Services Conference that bitcoin was "a fraud" that would eventually blow up. Dimon, a long-time critic of bitcoin, once called it "a terrible store of value" in 2014 during an interview with CNBC.

Bitcoin is sinking on a report China is going to shut down exchanges

  Bitcoin is sinking on a report China is going to shut down exchanges Bitcoin is down 5.68% at $US4,376 a coin following a Caixin report suggesting the China is going to shut down domestic exchanges. Two of China's largest bitcoin exchanges, Okcoin and Huobi, say they haven't received any such notices, according to a tweet from Bloomberg's Lulu Yilun Chen.Two of China's largest bitcoin exchanges, Okcoin and Huobi, say they haven't received any such notices, according to a tweet from Bloomberg's Lulu Yilun Chen.

Bitcoin has fallen more than 11% since Jamie Dimon , the CEO of JPMorgan, bashed the cryptocurrency on Tuesday at the Barclays Financial Services Conference, calling it " a fraud " that would eventually blow up.

Bitcoin continues to slide Wednesday as uncertainty and criticism mount against the red-hot

John Spallanzani, chief macro strategist at CFI Group, tells Business Insider that Dimon's remarks, however, aren't the only reason bitcoin is under pressure this morning.

"The negative news cycle continues, the UK regulator FCA has sounded the alarm over initial coin offerings, and the China crack down," he said in an email to Business Insider.

On Tuesday, the UK's financial watchdog, the Financial Conduct Authority, warned investors about the risk associated with initial coin offerings, the cryptocurrency-based fundraising method. Over $US2.1 billion have been raised via the method since the beginning of the year, according to Autonomous NEXT, the financial technology analytics provider. Some companies have raised millions of dollars in a matter of hours without having an actual product. Here's the FCA (emphasis ours):

Oprah just got wonderfully schooled by Jamie Oliver on Instagram.

  Oprah just got wonderfully schooled by Jamie Oliver on Instagram. Here’s a fun weekend riddle: who on earth has the guts and unabashed confidence to sassily school Oprah on the most public of forums? Jamie Oliver, apparently. Oprah – the world’s most famous face with the world’s most famous name – posted a photo on Instagram on Friday with a basket full of what she … ContinuedOprah – the world’s most famous face with the world’s most famous name – posted a photo on Instagram on Friday with a basket full of what she thought was dill.

Link: http://www.businessinsider.com/ bitcoin -price-after- dimon - calls - it - a - fraud -2017-9.

And Jamie has nothing to gain from tanking a currency he can't control wake up people. Hasn't he been denouncing bitcoin since it was trading at 0? 0 replies 0 retweets 1 like.

"ICOs are very high-risk, speculative investments. You should be conscious of the risks involved (highlighted below) and fully research the specific project if you are thinking about buying digital tokens. You should only invest in an ICO project if you are an experienced investor, confident in the quality of the ICO project itself (e.g. business plan, technology, people involved) and prepared to lose your entire stake."

Oprah just got wonderfully schooled by Jamie Oliver on Instagram.

  Oprah just got wonderfully schooled by Jamie Oliver on Instagram. Here’s a fun weekend riddle: who on earth has the guts and unabashed confidence to sassily school Oprah on the most public of forums? Jamie Oliver, apparently. Oprah – the world’s most famous face with the world’s most famous name – posted a photo on Instagram on Friday with a basket full of what she … ContinuedOprah – the world’s most famous face with the world’s most famous name – posted a photo on Instagram on Friday with a basket full of what she thought was dill.

@BitcoinDood. The Dood likes # bitcoin . Bitcoin and altcoin enthusiast.

Bitcoin has fallen more than 11% since Jamie Dimon , the CEO of JPMorgan, bashed the cryptocurrency on Tuesday at the Barclays Financial Services Conference, calling it " a fraud " that would eventually blow up.

Earlier this month, China announced it was banning initial coin offerings. And more recently, rumours have escalated that China might ban cryptocurrency trading altogether. A Caixin report out September 8 suggested the China will shut down domestic cryptocurrency exchanges.

Two of China's largest bitcoin exchanges, Okcoin and Huobi, say they haven't received any such notices, according to a tweet from Bloomberg's Lulu Yilun Chen.

In February, China blocked customers from withdrawing their bitcoin. They were eventually allowed to resume withdrawals in June.

Get the latest Bitcoin price here.

Swiss shut down 'fake' E-Coin in latest cryptocurrency crackdown .
Switzerland's financial watchdog has closed down what it said was the provider of a fake cryptocurrency and is investigating around a dozen other possible fraud cases, in the latest clamp-down on the risks involving virtual money. The move by the FINMA watchdog comes on the heels of Chinese authorities' ordering Beijing-based cryptocurrency exchanges to stop trading and immediately notify users of their closure.Virtual currencies such as Bitcoin, which are issued and usually controlled by their developers and not backed by a central bank, are hailed by their supporters as a fast and efficient way of managing money.

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