Bitcoin a Fraud?

Bitcoin may be the buzzword of the year but some industry veterans are not buying into the hype. At a recent bank investor conference, Jamie Dimon, the CEO of JP Morgan Chase & Co., a financial services holding company, called Bitcoin a fraud and that it will blow up soon, Yahoo reported. During the conference, he made a controversial statement when he criticized the crypto currency. “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”