Dimon: I regret calling bitcoin a fraud

11 January, 2018, 09:42 | Author: Pamela Mathis
  • Dimon Backpedals on Bitcoin

Dimon now says he "regrets" calling bitcoin a fraud. He did not elaborate. In September, he had threatened to fire the traders who would dare to trade in bitcoins but now he seems to take a retreat from his statements. In a Tuesday interview with Fox Business, CEO Jamie Dimon argued that the emergent currency would actually be healthy for global financial markets. He said that initial coin offerings - a form of cryptocurrency fundraising used by many blockchain startups - had to be looked at "individually". He also has said an unregulated currency's prospects for survival are essentially zero, as governments would be unlikely to tolerate one. "I regret making them", said Dimon, but added that he is still concerned about how "governments are going to feel about bitcoin when it gets really big".

In October, JPMorgan CFO Marianne Lake said the bank was "very open-minded" to digital currencies that were properly regulated.

But Bitcoin was unmoved by the admission and was trading lower by 4.2% at $14,330.10, according to prices listed by Coindesk yesterday afternoon. In addition, reputable exchanges CME and CBOE have released Bitcoin futures products (which JPMorgan was reportedly considering offering clients access to), launching the cryptocurrency into the mainstream.

INEC Announces Timetable for 2019 Elections
The Chairman said that political parties were also expected to submit names of their agents for the elections on February 1, 2019. Yakubu assured Nigerians that the commission was determined to strictly adhere to the timetable and implement it to the letter.


Dimon said that he was considering more how the new tax code would affect his company in the long term. Long Blockchain still maintains a business that sells drinks. He expects the blockchain to outlast the digital currency Bitcoin, it supports. Read this feature about Bitcoin risks and potential gains.

Recently, the bitcoin had surged to trade above $16,000 after the reports surfaced that PayPal co-founder Peter Thiel's Founders Fund had made massive bets on bitcoins in the early a year ago.

Even Kodak has announced its plan to install the bitcoin mining rigs at its headquarters in Rochester, New York besides its plan to roll out its own version of bitcoin called KODAKcoin.

Recommended:

  • Jay Bruce returning to New York Mets

    Jay Bruce returning to New York Mets

    Bruce hit.248 with seven home runs and 26 RBIs for the Indians , giving him season totals of 36 home runs and 101 RBIs. As the offseason began, Bruce was reportedly seeking a five-year contract and was linked to the Giants and Astros.
    Say goodbye to M, Facebook's virtual assistant

    Say goodbye to M, Facebook's virtual assistant

    In addition to this, Facebook also wanted users to make use of the assistant without the need to jump from one service to another. Last year Facebook altered M by introducing automatic actions and responses into Messenger conversations for millions of people.
    Jack Wilshere limps out of Arsenal's clash against Chelsea with ankle injury

    Jack Wilshere limps out of Arsenal's clash against Chelsea with ankle injury

    With one minute left in the first halftime, Cesc Fabregas should have given Chelsea the lead but headed straight at David Ospina. We must be more clinical offensively otherwise if you don't score and you are unlucky the game finishes as a draw.
  • Former Google Engineer Suing Company Over Perceived Discrimination Against White Men

    Former Google Engineer Suing Company Over Perceived Discrimination Against White Men

    The class-action lawsuit suggests that there may be many other current and former Google employees who similarly suffered. All this is happening while Google is fighting back claims that women at the company have been systematically underpaid.
    HP issues global recall of laptops with defective batteries

    HP issues global recall of laptops with defective batteries

    There's also a BIOS update that puts the battery into " Battery Safe Mode " to prevent it from operating in a risky way. When this mode is enabled, the battery will be discharged and it will no longer charge until the mode is disabled.
    TCL 4K HDR Roku TVs get Dolby Vision, Roku Assistant, contrast zones

    TCL 4K HDR Roku TVs get Dolby Vision, Roku Assistant, contrast zones

    We recently learned that streaming company Roku is looking to branch out from TVs, and transition to smart assistants and systems. The all-new step-down 5-Series will carry numerous same technologies and will be offered in screen sizes from 43 to 65 inches.
  • Newcastle U23 boss Beardsley under investigation for racist abuse

    Newcastle U23 boss Beardsley under investigation for racist abuse

    The former Liverpool and Newcastle player was previously cleared of bullying by a Premier League inquiry back in 2003. The club are not commenting on the matter, but it is understood that a grievance meeting has been scheduled.
    Shilpa is mean to Hina

    Shilpa is mean to Hina

    Remember, how she called her a "loser" and a "bhains" during the initial week of Bigg Boss? I want Vikas Gupta to win the show. While Hina and Shilpa are two of the most popular contestants, Vikas is also a tough contender, and has a good fan base.
    Playing of national anthem in cinema halls made optional

    Playing of national anthem in cinema halls made optional

    He continued to fight for the respect of the national anthem and collected more evidences that showed people disrespecting it. The bench had further stated that an Indian doesn't need to wear his patriotism on his sleeves.
  • Margot Robbie and Chris Hemsworth hilariously battle to be the 'Best Aussie'

    Margot Robbie and Chris Hemsworth hilariously battle to be the 'Best Aussie'

    Margot Robbie and Chris Hemsworth went head to head to find out who the best Aussie is in a game of " Ellen's Australian Boxers". When the two chose to hit the gym for a class, Ackerly thought it was a fine to wear an old pair of VERY revealing short shorts.
    PSG star 'agrees' to join Man United

    PSG star 'agrees' to join Man United

    The 25-year-old Brazilian would cost around £20 million and there are plenty of reasons why the deal would work. I need to concentrate on improving at PSG.
    Intel Announces 802.11ax Chipsets for Faster Wi-Fi

    Intel Announces 802.11ax Chipsets for Faster Wi-Fi

    The certification is done to give consumers the confidence that the device they purchased will indeed work with the new standard. In addition, users can expect improved network efficiency and longer battery life on client devices that use the new standard.


Popular

Loveland-area weather: Mostly cloudy; high in mid-50s
Towards the end of the week temperatures moderate as moisture levels increase with some rain showers late Thursday or Friday . Patchy blowing snow before 1 p.m. "It depends on how quick the transition is", from drizzle to snow, Temeyer said.

US Supreme Court weighs states' right to purge voter lists
The Trump administration filed a brief in support of the OH " use it or lose it " voting policy previous year in Husted v. Chief Justice John Roberts disagreed. "It's evidentiary, it's not ground for removal itself", Alito told the plaintiffs.

Australia's green turtle may become extinct
Climate change is being blamed since the sex of the sea turtle is determined by the heat of the sand where they lay their eggs. If the temperature gets above a certain point, the baby sea turtle will be female.

Powerful Earthquake in Caribbean Prompts Tsunami Warnings
For instance, the 2010 quake that caused major damage in Haiti was a lesser magnitude of 7.0. Tsunami warnings were put into effect after the quake struck, but were ultimately canceled.

Browns hiring Packers executive Eliot Wolf
The 35-year-old Wolf met with Dorsey on Tuesday after the Packers elected to hire Brian Gutekunst as their general manager. It's a big loss for Green Bay, and potentially another sign that their grip on the NFC North is slipping.

Marvel's 'Black Widow' Movie Looks More Likely After Landing Writer
Variety reports that Marvel Studios is moving forward with a standalone Black Widow movie starring Scarlett Johansson . Schaeffer stepped into the feature film industry with her 2009 pic TiMER , which she wrote and directed.

SpaceX defends rocket's performance in secret satellite launch
Commentary during a webcast of the launch appeared to confirm that the fairings housing the payload were successfully deployed. The highly anticipated rocket, which is SpaceX's largest, will take its maiden flight soon after that, she said.

FERC rejects Perry electricity grid proposal
The independent five-member commission includes four people appointed by President Trump , three of them Republicans. Once that documentation is processed, the panel will decide whether it'll implement new measures.

Seth Meyers Nailed His Golden Globes Monologue-By Giving Away the Mic
The Golden Globe Awards 2018 saw late night show host Seth Meyers do the much-expected - address "the elephant not in the room". Meyers also took time to tee off on disgraced Hollywood mogul Harvey Weinstein , who, of course, was not in attendance.

Nicole Kidman Joins Instagram With Award-Winning Posts
But Kidman also shares two other children - Connor, 22, and Isabella, 25 - whom she adopted with her ex-husband Tom Cruise . Nicole Kidman has won the Golden Globe for her performance as an abused wife in the hit TV mini-series Big Little Lies .