23 Jan '14, 1pm

Jamie Dimon Goes On The Attack On Bitcoin

Jamie Dimon Goes On The Attack On Bitcoin

CNBC "It's a terrible store of value." See Also An Introduction To Bitcoin A Group Of Miners Has Exposed One Of Bitcoin's Fatal Flaws Warren Buffett Will Give You $1 Billion If You Fill Out A Perfect 'March Madness' Bracket The fact that we're still talking about Bitcoin seems to suggest that it has some staying power. However, Jamie Dimon believes its standing as a currency will eventually end. Dimon, who is the CEO of JP Morgan, spoke with CNBC's Andrew Ross Sorkin about the so-called digital cryptocurrency. And he went on the attack. "It's a terrible store of value," said Dimon. "It could be replicated over and over." That speaks to the logistical issues. But what's worse is arguably the regulatory hurdles. "It doesn't have the standing of a government," added Dimon. "And honestly, a lot of it — what I've read from you guys — a lot of it is being used for illicit purpos...

Full article: http://www.businessinsider.com/jp-morgans-jamie-dimon-on-...

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