is not hard to work out the side of the fence on which Dimon sits. Im not sure JP Morgans shareholders would approve. Those who dont, say its a bubble, perhaps because theyre jealous that other people are getting rich when theyre not. It will eventually blow up, he said, its not a real thing.
Bitcoin is one of the most important innovations of our time it will tran sform the way we do business.
Dominic Frisby has written a great account.
Would Jamie Dimon really sack traders who netted a 1000 return in less than two years?
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Here was an alternative to government currency, an open-source money system without the backing of the law, yet freely given value by the market. Bitcoin is a new form of money. Bitcoin is used for trading illegal goods; indeed, it has actually facilitated dark markets. Here was the solution. Its here to stay, though Id say it is unlikely to replace the primacy of the US dollar. Szabo had developed the immediate precursor to bitcoin, called bitgold ; his and Nakamotos writing styles were very similar; they kept the same working hours; the timing was right Szabo was between projects; he had the required cultural background among a renegade band of 90s. Wrights was not a name that had been previously had much association with bitcoin.
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