28 Sep '17, 6pm

Macquarie Lashes Out At Dimon: "Modern Finance", Not Bitcoin, Is The Real Fraud

Macquarie Lashes Out At Dimon: "Modern Finance", Not Bitcoin, Is The Real Fraud

While we do not pretend to be experts on Bitcoin or other multiple variations of cryptocurrencies (which use different software), the essential point about all of them is that they provide relatively secure and divisible means of transacting that is borderless, with predictable and decentralized supply. Although the above quotes indicate that senior financial executives believe that Bitcoin is a fraud, the reverse in many ways is true, as it is in fact a highly transparent system, with every transaction that has ever taken place recorded on the database (block chain), which is visible to all and every entry is permanent. The entire business case is built around mathematics rather than fraud. However, it is also true that it can be hacked (think of Mt Gox) and it has evolved into one of the key avenues that turbocharges potentially fraudulent and illegal transactions (think...

Full article: http://www.zerohedge.com/news/2017-09-28/macquarie-lashes...

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