Bitcoin dismissed as 'kind of cute'
<p>A couple of financial heavyweights don't think much of bitcoin. J.P. Morgan CEO Jamie Dimon told delegates at Wednesday's Fortune Global Forum that: "It's just not going to happen. You are wasting your time," reports The Daily Telegraph.</p>
<p>"There will be no real-time, non-controlled currency in the world. There is no government that is going to put up with it for long. It's kind of cute now, a lot of senators and congressmen will say, 'I support Silicon Valley innovation', but there will be no currency that gets around government controls."</p>
<p>Sharing the platform, Christine Lagarde, managing director of the IMF, was equally scathing.</p>
<p>"Pause for a second. As long as those new technologies are going to abuse and take advantage of the yield for anonymity, I think the banking industry has quite a few good days ahead of it; as long as it takes ownership of those issues of capital and culture in order to restore trust, without which no trade, no transaction, no business can take place," she said.</p>
<p>It's hard to know whether their scorn is a genuine expression of contempt or hides a deeper feeling of panic.<br />
Photo: BTC Keychain</p>