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Jamie Dimon: Bitcoin Is a 'Fraud'; Why Bitcoin is Not a Bubble and More in Fintech Daily



Jamie Dimon: Bitcoin Is a 'Fraud'


JP Morgan Chase chief executive Jamie Dimon doubled down on his past criticisms of bitcoin today, declaring it a "fraud" and saying he would fire any trader known to be trading the cryptocurrency. Dimon gave the remarks during an appearance at an event hosted by Barclays, according to reports from Bloomberg and CNBC. A long-time critic of bitcoin – he said that the cryptocurrency would "not survive" back in November 2015 when the price was fluctuating around the $400 level. Read the full article here

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Category: Bitcoin

Image & article ref: coindesk.com

Why Bitcoin is Not a Bubble


The internet is replete with people referring to bitcoin as a “bubble.” They are spreading fear, uncertainty, and doubt galore. They believe bitcoin’s high price spells impending doom, but their criticisms move beyond mere skepticism. It seems like they just hate cryptocurrency. Yet many of these pundits do not fully grasp bitcoin…or even economics...Commentators like Peter Schiff and others have routinely said bitcoin is a “bubble,” and that it will collapse any moment. Read the full article here

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Category: Bitcoin

Image & article ref: bitcoin.com

Swiss Town to Accept Tax Payments in Bitcoin


The municipality of Chiasso in Switzerland is to start accepting tax payments in bitcoin, according to a local news report. The new scheme, to be put into place for the start of next year, was apparently made following discussion with various blockchain groups based in the area. There are limits to the scheme, however, and tax payments made in bitcoin cannot exceed 250 Swiss francs (around $265), the report states. The Mayor of Chiasso, Bruno Arrigoni, was cited as saying that the town is "recognised internationally as an epicentre of a growing technological... Read the full article here

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Category: Bitcoin

Image & article ref: coindesk.com

Bitcoin Bubble? US National Debt Passes $20 TRILLION For First Time In History


Bitcoin bubble fears have once again given way to the mountain of US debt, which has passed $20 tln for the first time ever. Data from government books published in CNS News show the latest package from president Donald Trump sending the gross national debt over the historic threshold, a never-before-seen event in US history. "As of Sept. 8, total debt stood at $20,162,177,000,000."Prior to this, the magic number had reared its head several times since 2016, with the Treasury in March “using what it calls ‘extraordinary measures’”... Read the full article here

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Category: Bitcoin

Image & article ref: cointelegraph.com

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