Dimonsaid that if one of his JPMorgan workers would trade Bitcoin, he would have fired him "in a second for two reasons".
Mr. Dimon told an investor conference in NY that if any of his traders were found trading bitcoin he would "fire them in a second", and that bitcoin was "worse than tulips bulbs", referring to a famous market bubble from the 1600s. Speculators drove the prices of tulip bulbs to astronomic levels, some scholars claim as much as ten times an annual skilled worker's salary for a single bulb. It won't end well. "It will blow up".
If you're going to own Bitcoin, keep it to a tiny part of your investable assets - less than 1% - and be aware that it's not governed by securities laws so you have minimal legal protection if you get taken advantage of by unscrupulous dealers. In early NY trading on Wednesday, bitcoin traded at 3818.50 dollars, down almost 8 percent from the previous session. The investors and traders do not know what to expect next from them and with the Chinese being the largest investors in bitcoin and ICOs, it is indeed a time for a lot of risk and uncertainty in this market. He added that bitcoin was "stupid" and "far too risky".
'The Disaster Artist' Full Trailer Starring James Franco
The film stars James Franco , who also directs, as Tommy Wiseau , the awkward mastermind behind the awful-but-beloved film. Sestero went on to write The Disaster Artist as a chronicle of everything that went into making The Room .
China To Close Its Domestic Crypto Exchanges
China is the world's biggest cryptocurrency market , hence the ban on cryptocurrency exchanges and ICOs comes as a shock. China is home to vast and lucrative cryptocurrency mining operations for both Bitcoin, Ethereum , and other cryptocoins.
"I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down", he said. Bitcoin prices have risen more than four-fold this year, prompting debate over its exposure to an economic bubble. Dimon made these comments within the framework of two conferences held in NY.
Voicing his shock that so many investors have been unable to see Bitcoin for what it is, he forecast the currency will "eventually blow up", but said its value could soar as high as $20,000 (€16,688) before that happens.
The JPMorgan CEO's words were echoed by expert Zhou Wuying, who said that the skyrocketing price of Bitcoin in recent years is likely to undergo the economic bubble like Tulip mania in the Netherlands.
Bitcoin is now seen as a good investment by many speculators, as it possesses advantages, including decentralization, non-duplication, and low processing fees. The best argument he's heard, he said, is that it can be useful to people in places with no other options - so long as the supply of coins doesn't surge. "It went up and she thinks she's a genius now", he said.
During the first year, the Medicare for All Bill would add prescription drugs, dental, vision, and hearing aids to the program. Every other major country on Earth has decided that health care is a right, and we've got to do the same.
They showed they are no pushovers last season when they knocked Athletic Club Bilbao out of the last 32 of the Europa League. The Catalan giants now top the La Liga table, having won all three of their opening league fixtures under their new coach.
All of Disney's resorts, except for the Fort Wilderness Campground and Saratoga Springs Treehouse Villas reopened Tuesday as well. Walt Disney World has announced that it will reopen on September 12, with the hurricane now downgraded to a tropical depression.
While everyone else went out dancing, she waited up all night for Spyer to arrive-she finally showed up the next afternoon. Roberta Kaplan , Windsor's lawyer in her landmark Supreme Court case, remembers her as a "true American hero".
Hundreds of angry parents staged a protest outside the school for a CBI probe into the murder of a seven-year-old school boy. The horrifying event caused ripples across social media and among the parents, who protested the school's lack of security.
Of those with coverage previous year , just over two-thirds of Americans had private insurance, mostly from their employers. And the proportion of Americans without health insurance declined to 8.8 percent, the report showed, down from 9.1 percent.
Joseph University also dropped about 10 spots for the second year in a row to 87 among regional universities in the Midwest . The University of SC was tied for 49th among national public universities with the University of New Hampshire.
Some Republican congressmen realize the Dreamers' special status - House Speaker Paul Ryan was among those who wanted Mr. Basi said there are fewer than 10 DACA students attending MU. "That's 214 per hour, if we work all night long".
Next summer, Nintendo will also bring back the Nintendo Entertainment System: NES Classic Edition system with new shipments. The gaming company also plans to begin shipping the pre-orders of the SNES Classic by September 29.
But Wenger looks likely to rest several of his big-name players for the match against the Bundesliga side. Players knew that we had to give our 100% against Bournemouth because we had to win no matter what.
Jose will not make the same land impact as Irma, though its rains could worsen any ongoing flooding on islands already hit. Call it the summer of storms-there are now three hurricanes swirling around the Caribbean and the Gulf of Mexico.
New Apple TV With 4K Streaming Announced
This year we got a single sign-on mode, plus (for US users) a global search tool to help you find any programme you want. The new Apple TV has a built-in high performance 4K video scaler which makes HD content look even better on a 4K TV .
Apple Watch Series 3 launched with LTE, GPS and more
Apple did not confirm the exact watchOS 4 release time, but you can expect that it will arrive around 1PM Eastern, 10 AM Pacific. The Apple Watch Series 3 has the potential to extend recent sales gains by boosting the device's functionality, analysts said.
Compass Group plc (CPG) Shares Down 0
In terms of moving averages, the 200-day is now at 245.10, the 50-day is 287.58, and the 7-day is resting at 267.37. The stock of Hargreaves Lansdown PLC (LON:HL) earned "Underweight" rating by JP Morgan on Friday, October 14.
Mi Notebook Pro Specifications and Features Announced
It comes with a new improved keyboard which according to Xiaomi President, Lin Bin, would provide an enhance typing experience. A new cooling design that is symmetrical which allows 2x inbound airflow and 40% improved outbound air flow than competitors.
Harvey impact still being felt at gas pumps
As almost 7 million Florida residents flee the path of Hurricane Irma, gas is in short supply and prices have risen sharply. Success! An email has been sent with a link to confirm list signup.