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What if bitcoin is a reflection of trust in the future value of fiat currencies?i am struck by the.
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The fiat currency (dollars in the us) is the medium of exchange, the cryptocurrency is not.
2017 saw an explosion in these scam project launches. Bitcoin is not a store of value or a currency, it's a manipulated, cornered, penny stock style pump and dump, using the media to help sell it to retail investors. Bitcoin is a fraud that will ultimately blow up, according to jp morgan boss jamie dimon, who said the digital currency was only fit for use by drug dealers, murderers and people living in places. Shutterstock jamie dimon, ceo of jp morgan chase, recently labeled the leading digital currency, bitcoin, a fraud, likening it to the 17th century tulip bulb mania and adding that he would fire. Fiat money is fake money mr. As banks and governments become more tech savvy, the room for fraudulent financial activities decreases. Internationally fraud caused through money, be that cash or digital seems to be on the decline. If it isn't a trusted party that you already know, this is a very risky proposition that could result in you getting robbed or injured. Fiat money is a kind of currency, issued by the government and regulated by a central authority such as a central bank. Bitcoin is commonly advertised as a hedge against fiat. Such currencies act like legal tender and are not necessarily backed by a. How bitcoin millionaire pro loses your money Bitcoin was the first digital currency, but new currencies or.
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A representation of virtual currency bitcoin.
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