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"It's just not a real thing, eventually it will be closed,"
Dimon said at the Delivering Alpha conference on Tuesday.
McAfee, whose company MGT Capital Investments mines Bitcoin,
said that the miners invest heavily in supercomputing power and
electricity to create Bitcoins, giving it value.
"You called bitcoin a fraud," McAfee told CNBC.
"I'm a bitcoin miner. We create bitcoins.
It costs over $1,000 per coin to create a bitcoin.
What does it cost to create a U.S. dollar? Which one is the fraud?
Because it costs whatever the paper costs, but it costs me and
other miners over $1,000 per coin. It's called proof of work.