This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital

“In my opinion, bitcoin a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters "pump" up the price of a security creating a speculative frenzy, then "dump" some of their holdings at artificially high prices...

This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital

“In my opinion, bitcoin a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters "pump" up the price of a security creating a speculative frenzy, then "dump" some of their holdings at artificially high prices...