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

07:36  14 september  2017
07:36  14 september  2017 Source:   Business Insider Australia

Swiss shut down 'fake' E-Coin in latest cryptocurrency crackdown

  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.

Bitcoin tanks 11 . 5 % since Jamie Dimon called it ' a fraud '. John McAfee, the legendary security technology pioneer, rebuts claims by J.P. Morgan CEO Jamie Dimon that bitcoin , the virtual currency, is a fraud .

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

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 tanks 11 . 5 % since Jamie Dimon called it ' a fraud '. Jamie Dimon Thinks Bitcoin Is a ‘ Fraud ,’ But It Can Still Hit 0K. Fortune. Mnuchin defends Trump after deal with Democrats: 'The president is absolutely a Republican'.

NEW YORK, Sept 12 (Reuters) - Bitcoin "is a fraud " and will blow up, Jamie Dimon , chief executive of JPMorgan Chase & Co , said on Tuesday. Dimon 's comments come as the bitcoin , a virtual currency not backed by any government, has more than quadrupled in value since December to more

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):

North Korean hackers are trying to steal bitcoin and other cryptocurrencies

  North Korean hackers are trying to steal bitcoin and other cryptocurrencies It’s no secret that in recent years, North Korea has stepped up efforts to expand its nuclear weapons stockpile. More quietly, though, it’s been stashing another commodity: bitcoin and other cryptocurrencies.  More quietly, though, it’s been stashing another commodity: bitcoin and other cryptocurrencies.

Jamie Dimon became Chief Executive Officer of JPMorgan Chase on December 31, 2005. An inordinate amount of frauds have been perpetrated inside his bank since that time, none of which the eagle-eyed Dimon Yesterday, he took on the cryptocurrency known as Bitcoin , calling it a fraud .

Bitcoin "is a fraud " and will blow up, Jamie Dimon , chief executive of JPMorgan Chase & Co, said on Tuesday. Dimon 's comments come as the bitcoin , a virtual currency not backed by any government, has more than quadrupled in value since December to more than ,100.

"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."

Bitcoin is the 'most crowded' investment in the world right now

  Bitcoin is the 'most crowded' investment in the world right now In a year that has seen prices for bitcoin go higher not by percentages but multiples, investors are starting to worry that things have gone too far.Bitcoin (BTC=-USS) is now considered the "most crowded trade," as measured by sentiment in the monthly global Bank of America Merrill Lynch Fund Managers survey. That means investors believe there are too many people on one side of the trade and it could be due for a reversal.

is Jamie Dimon , who in an angry outburst during the same conference in which he preannounced JPM's 20% trading revenue drop, lashed out at the cryptocurrency, calling it a " fraud " which is "worse than tulip bulbs. For those who "wasted their time" since Dimon 's threat, Bitcoin is up 1,018%.

* * * Incidentally, for those who "wasted their time" since Dimon 's 2015 threat, Bitcoin is up 1,018%. Jamie Dimon lashed out at the cryptocurrency, calling it a " fraud " which is "worse than tulip bulbs.

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.

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.

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