Bitcoin is a 'fraud worse than tulip bulbs' says JPMorgan CEO Bitcoin, which is not backed by any government, more than quadrupled in value from December to September and some analysts predict it ... A Japanese high court on Thursday upheld a lower court’s decision that the French head of Mt. Gox, a Tokyo-based bitcoin exchange that went bankrupt after a massive hacking attack, was guilty of manipulating electronic data but not embezzlement. The Tokyo District Court last year sentenced Mark Karpeles BitCoin as a Ponzi scheme comes as no surprise to most. In a paper published in a recent issue of the Journal of Monetary Economics, a team of researchers examined the impact of fraudulent activity that occurred on the leading bitcoin currency exchange in 2013, and found that a single actor was “likely” behind a massive spike in exchange rates. One year after America was in shock over the massive price hike of Daraprim from $13.50 to $750 a pill. Now the drug costs $375. Doctors say it's 'immoral' and 'unethical.' Bitcoin’s bulls are taking a breather amid jitters in the traditional markets over rising tensions between the U.S. and China. The world’s biggest cryptocurrency is trading near $9,400 at press time, having posted an eight-day high of $9,620 on Thursday. Prices have gained 8% so far this week, according to CoinDesk’s Bitcoin Price Index.
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