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Back in September JP Morgan Chase CEO Jamie Dimon lit up the internet after his comments on Bitcoin during a Barclays Banking conference, suggested that cryptocurrency is “a fraud” and that he would fire any employee for trading Bitcoin for being “stupid.” Dimon continued “It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”
Appearing at a CNBC/Institutional Investor Delivering Alpha conference in New York that same day, the executive reiterated his dark view on cryptocurrencies in general, saying that “It’s not a real thing.”
Understanding the Basics
The underlying problem with the whole cryptocurrency debate may stem in part from a general lack of the understanding of the basics of blockchain technology, digital currency and Bitcoin. So here are some of the basics:
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