“One of Asia’s largest banks says bitcoin is ‘a Ponzi scheme'” – CNBC | $6,354.90

Last updated on November 18th, 2017 at 03:41 am

We see bitcoin as a bit of a Ponzi scheme,” David Gledhill, group chief information officer and head of group technology and operations at DBS, told CNBC on Wednesday.

Bitcoin transactions are “incredibly expensive” and “all the fees are hidden through the crypto-mechanisms,” he said on the sidelines of the Singapore Fintech Festival. “We don’t think DBS being in that game right now is going to create a competitive advantage for us.

Eulogy made by David Gledhill

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