The main way that Silicon Valley companies keep employees loyal is with stock options. Stick around for a year or two, and you get a small slice of ownership in the company. It’s a good incentive for workers to do their bit to increase the company’s value. It doesn’t really work that way in most other jobs though, especially if you’re not an office worker. No matter how many burgers you flip or skim-milk lattes you…"This pizza CEO has a crazy plan to create a Bitcoin-like currency to share the wealth with workers"
It’s a week of the long knives for bitcoin. Bitcoin fell on Wednesday, for a sixth straight day, as the sector continues to work out the ramifications of a Chinese ban on domestic exchanges and its dizzying 2017 gains come under fresh scrutiny. Bitcoin on Wednesday traded as low as $ 3,766, down more than 9% from its open of $ 4,148. The low also put it 25% below its record high of $ 5,014…"Red-Hot Bitcoin, Down for Sixth Straight Day, Looking Suddenly Bearish"
It’s good to see that the grown-ups are finally speaking out on some of the nonsense going on in the financial world. Jamie Dimon, head of JPMorgan Chase, this week called bitcoin “a fraud.” And he was quoted as saying that “any trader trading bitcoin [will be] fired for being stupid.” Dimon’s remarks came soon… bitcoins | New York Post"It’s about time someone called out bitcoin for what it is"
Jamie Dimon has not changed his mind about bitcoin. Mr. Dimon, the long-time CEO at J.P. Morgan Chase, continued his well-documented criticism of the digital currency bitcoin. Speaking at the Barclays financial services conference on Tuesday, Mr. Dimon was asked whether his bank had a trader who traded bitcoin. His response? “If we had a trader who traded bitcoin, I’d fire them in a second,” he said. “It’s against our rules” and any trader that…"Jamie Dimon Says Bitcoin Is a ‘Fraud’ That Will ‘Blow Up’"
Bitcoin is trading down Tuesday afternoon after one of the most powerful men on Wall Street said the red-hot cryptocurrency is in a bubble worse than any other in history. Jamie Dimon, the CEO of JPMorgan, called bitcoin “a fraud” and “worse than the tulip bulbs” bubble of the 1700s while speaking at the Barclays Financial Services Conference. Bitcoin is down over $ 100 since Dimon made his comments, trading lower by 2% at $ 4,140 a…"Bitcoin slides after Jamie Dimon bashes the cryptocurrency"
The explosive growth of the cryptocurrency market even has readers of blockchain news site CoinDesk thinking there is a bubble in the $ 164 billion market. Since the beginning of the year, the market cap for digital coins has increased $ 146 billion, according to data from Coinmarketcap.com, an 811% increase. That growth has been fueled in part by the appreciation of bitcoin, the original digital currency, and initial coin offerings, the red-hot cryptocurrency-based fundraising method. A…"SURVEY: The majority of CoinDesk readers think there’s a bubble in cryptocurrencies"
Oaktree Capital founder Howard Marks has bitcoin on his mind. Marks, who called bitcoin, the digital coin up over 350% this year, a “fad” in a July memo, has warmed up to it after receiving backlash from the cryptocurrency community. Marks revisited his thoughts on the digital coin in a wide-ranging memo sent out to clients on Thursday. The long and short of the note: Marks has changed his mind, but he still has reservations. Marks concedes he…"HOWARD MARKS: ‘I see no reason why bitcoin can’t be a currency’"
Dave Lutz, head of ETFs at JonesTrading, has an overview of today’s markets. US markets are in the green Tuesday morning, boosted by a tech rebound. The rest of the world is mostly in the red. Oil and copper are higher while gasoline is lower. Here’s Lutz: Morning! US Futures are up small, led by Tech rebounding 15bp – Gold, Yen, Swissie all remain elevated near y’days highs tho as peeps digest the DACA headlines impact…"Here’s a super-quick guide to what traders are talking about right now"
Can the bursting of the cryptocurrency bubble be far away? You know a market frenzy has turned surreal when Paris Hilton joins in: The celebrity most famous for being famous took to Twitter Monday to back a new currency called Lydian. But just hours later Chinese regulators put a damper on the fun, issuing a ban on so-called initial coin offerings. ICOs work like IPOs, except that instead of an equity stake in a company,…"In the Cryptocurrency Market, It’s Chinese Regulators vs. Paris Hilton"
LONDON – The price of digital currency Ethereum is tumbling on Monday after China and South Korea both announced crackdowns on one of the key use cases of the decentralized blockchain. Ethereum is down over 15% against the dollar at 3.15 p.m. BST (10.15 a.m. ET): The price collapse follows a crackdown on so-called “Initial Coin Offerings” (ICOs) in Asia. ICOs are where startups raise money by issuing new digital currencies or tokens that can…"Ethereum is getting smoked after China and South Korea’s ICO crackdown"