Bitcoin Forum

In reference to what Jamie Dimon (JP Margan CEO) says, calling bitcoin as a fraud.
https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin

We know for sure these days will come when banks and bankers will start the war with bitcoin.
So why these banksters started their war this time while bitcoin is recovering from the Chinese nightmare?
Bankers want to kill bitcoin for what reason? Perhaps, they see bitcoin provides more promising future compare to their nasty banking system.

Share your thoughts on this matter, please? thanks.

Bankers and Banks has starting their war to bitcoin because they observe that bitcoin has become more utilized by a lot modern countries such as Russia. So Banks has been threatened that they've loss by bitcoin. Bitcoin has now more clients than other banks.

If they were at war with bitcoin they would have cut the wire deposits and bank accounts of all the exchanges.
There is no "war" and there was no war.

And unfortunately, although I understand your motive and reason for this your topic is actually doing exactly the opposite right now. And this is what you spread right now... FEAR.
Sorry to say it but you are just two letters away from full FUD.

There is no war and there will never be.
Keep calm and hold buy sell exchange, whatever you like.


This is bs.
In my country alone there are over 25 milion debit and credit cards out of 29 million inhabitants.
Bitcoin has 300k transaction a day or maximum usage of 10 million a month.

Jamie Dimon has been attacking bitcoin for years now. Looks like all the idiots that aren't cut to hold Bitcoin got scared because this dumbass said it is a "fraud". Well let them sell, we don't need them on board. We need strong people, not faggots that panic everytime CEO-of-whatever speaks against Bitcoin. Once only real holders are on board these things will not happen anymore.

That is the case. The banks have declared war on us, the people, the hodlers. They want us to put money in their banks. But instead we pull money out of the banks and secure them in bitcoins and other cryptos

The banks are against bitcoin or cryptocurrency as a whole since it is one of their biggest competitor. When bitcoins have entered the market more and more people are now leaving the banks which means a decrease in the number of clients. Though they only felt it slightly but they knew for a fact that the masses will use it in a wider scale this will imply closure and bankruptcy of banks in the future. The only way to make their future and profit safe is to kill and destroy cryptocurrency today.

People are making good profit out of Bitcoin and I think the bankers are against it because they know that people won't keep their money in banks.
People are making use of Bitcoins and its technology is making many people to invest in it. So I think bankers are spreading rumors so that Bitcoin's price fall down and people lose their money. But we should not rely on these rumors and not get panic attacks. We should try to hold our coins as we know Bitcoin will soon go to very high price.

Agree with you, some people have entered this market not so long ago and they are getting paniced because of such news and they dump their coins for foolish price. The price will be over 5000$ at the end of the month, after this small price correction.

Easy my guy, not everybody is panic to the level of selling their bitcoins.  
I think only newcomers will try to sell all their bitcoins because of what JP Morgan CEO said.
People are currently dumping their bitcoins and altcoins because they don't understand bitcoin is competition to banks.
And bankers will try everything possible to destroy bitcoin because bitcoin is slowing taking over their business. ;D

because for some group, their monopoly will remain going down, so the need to act with bitcoin.

But we are community here stand to support bitcoins yeah :D

Banks have always been this way to bitcoin. They either attack with these kind of articles or create a their own coin to challenge bitcoin. Either way they all want the same thing, to get, if not all, the majority of bitcoin users to go back and use banks to keep their money. Best thing to do is to ignore them and hole while other people fall for these FUDs.

Banks wont get obsolete, the system is to reliable in some countries.

I don't think it's a declaration of war, it's the opinion of this one guy, maybe the opinion of that bank.
That is what that organisation does. It looks at businesses and gives an evaluation. And not every evaluation is positive.
It is up to the bitcoin community to prove him wrong.
Nobody is forcing anybody to sell, all the owners sell on their own free will.

Because "fakecurrency" bitcoin detracts from their racket of issuing their own fake money that makes them rich off the ignorance of the masses.

Sure banks and banksters don´t like btc. Its out of their control and they can´t make income. The biggest fear is that more use btc every where for buying goods every day. This will be the end of credit cards and bank accounts.

Forget what Jamie Dimon says. Its pure propaganda. You can see it if you look exactly.

Weak hands are selling our their bitcoins as of now when the price is bitcoin is falling gradually checking it we are already on $3700 price and still lowering down.Instead of panic im really excited on the best possible lowest price on this kind of rally.Im excited to buy cheap bitcoins and talking about bankers they would really do anything just to take down bitcoin because sameas you said it is the reasons why their business is being slowed down.lol

There is no open war because that way, banks would immediately raise a lot of attention for Bitcoin, and achieve the exact opposite.

So they lobby against BTC openly and covertly. In this case openly.

Jamie has made over 1000 000 000 in the fiat banking system (that is defrauding hard working people by design) and now has the nerve to claim that Bitcoin "is created from thin air"!!!!!!!!!!!!!

What  a dirty lie, BTC is proof-of-work. FIAT IS CREATED FROM THIN AIR.

Disgusting, dirty banksters, make me sick to the stomach  :P :P :P :P :P

A very obvious reason to this thing is the effect of bitcoin on the shares and capital markets. Bank FD, bonds ,shares, MF there is nothing in this world that could provide return that has been provided so far by bitcoin. This has attracted a lot of people towards this market of cryptos. As this market grows the ordinary share market would eventually collapse. This is the reason that top knotch investors and bankers criticize bitcoin. Warren Buffet too once said bitcoin is mirrage. Reason is their insecurity towards money.

Apparently some banks see Bitcoin as a threat to their business. I'm sure part of this is because of some of the features of Bitcoin as follows:

1) Bitcoin can be used to store money without using a bank.

2) Bitcoin allows you to send money anywhere in the world without using a bank

3) There is potential for Bitcoin to be used as a method of payment so you wouldn't need bank checks or bank credit cards.

I think this third point may be the most damaging to banks because most people in my country use credit cards issued by big banks to make purchases and the banks get a percentage of the purchase price in a fee and collect interest from the card holder. This part of their business could be threatened by Bitcoin.

They are afraid  of losing their job because of bitcoin

In America, the big banks basically run the country. In fact, many of the top officials in the Trump administration are from big banks such as Goldman Sachs. Big banks pay all the politicians to influence legislation. This is true for both political parties.

The point is that I agree that banks have a major influence on policy in America. They may try to suppress Bitcoin and other cryptocurrencies. They could succeed but we also see that over the years, Bitcoin has grown to be worth almost $5000 about a month ago.

I think Bitcoin will survive because it's a true grass roots movement that is worldwide and has momentum. At some point, I think banks will need to work with Bitcoin rather than against it.

Diamon and the commercial bankers are the least of the difficulty bitcoin must overcome.   Just wait until the Federal Reserve Bank and Congress finally declare war.   it will be walking a tightrope between falling on the side of bitcoin transactions being taxed allowing it to survive or falling on the other side where it becomes nothing more then the currency of the black markets.

If bitcoin does not make peace with the US government, kiss it goodby for anything but money laundering.

I could see a scenario where Bitcoin survives and banks have to actually adapt to it. Banks could provide customers a service of converting Bitcoins to fiat and vice versa for its customers. They could even set up secure Bitcoin wallets for customers that are not tech savvy enough to feel comfortable doing it themselves. The banks could charge small fees for these services and embrace this technology.

Banks could even issue Bitcoin credit cards to get in on that part of the Bitcoin economy as well. They really could use Bitcoin in their banking practices rather than fighting it. Just like the internet a few years ago, Bitcoin may be one of those things that you can't stop but you just have to jump on board and use it to your advantage.  Any bank that does this first could be on the cutting edge of this technology.

I do not think that the only government that have authority over currency is US,  there are these Russia and China, though China is somehow a bit hostile to bitcoin at this moment,  there is also Japan and Australia but these two will probably influenced by US.  My assumption Russia and China will accept it once US turn down and become hostile to Bitcoin.  This is how competition in economic leadership fare I think.

Bitcoin heralds a new age more disruptive than that of today’s Internet. Disruption can be a good thing, especially when it affects banking, a failing set of business models which, for all the tweaks, have been virtually unchanged for millennia. Paradoxically, some banks are afraid of Bitcoin because it would force them to innovate.

The guy is not very smart. Calling fraud a technological innovation, that is only not more revolutionary than the Internet itself, it's a very stupid attitude.

I don't even know what he expects with this. Bring more publicity to Bitcoin?

Bankers sooner or later are going to accept that Bitcoin is a currency just like the others. They don't like it because Bitcoin is out of their control. I dont think Bitcoin is fully decentralized because if you think about it, miners do have some power over Bitcoin.

Haha looks like the banks are bringing in fear to all the suckers who are buying Bitcoins late. They don't want hope for the platform and are spreading negativity like wildfire. I would just ignore them and continue to invest for the long haul, especially if you just bought into it.

I could have seen this coming a marathon away.

i disagree with the Poll. i believe banks will never be obsolete. they are old systems that have been offering services (good and very useful services) to people for money. and their services for money will always be needed one way or another. we can not deny that.

but the thing is that these banks need to change and update themselves to the new world and new technologies of this new age. so far they are threatened that their business and their earning is going to diminish because of bitcoin and blockchain technology. but soon they will realize it is inevitable and they need to adopt instead of fighting it because that is a battle they are not going to win.

bankers against the bitcoin in crypto currency the insecurity of the bankers in the bitcoin as currency is very risk for them, the bankers scared to replace the local currency ino cryptocurrency and all bank are close and raised the bitcoin bank haha.

Obviously because people who have knowledge about bitcoin tend to use bitcoins more than real money. Instead of investing money in banks, people invest in bitcoins. Banks earn from people who invest in their companies and when people choose bitcoins over banks, the bank is not profiting.

Bankers earn money from thier day by day jobs. They receive money from people, and when people return to ask for their money, they say: you have to pay this tax, and tis tax, and Good knows what,  if you want your money that you gave to me earlier. Now there is something different that is risking their jobs and their earnings. There is bitcoin, one does not need the classic banks to have bitcoin, nor to cash it out. This is why banks will begin the war with bitcoin, because bitcoin is threatening their earnings and jobs.

You should consider their side of this, to understand where they are coming from.

For many years they were in a position of power. They could selectively chose, who they want to allow into their little private club. If you were poor and they could not exploit you, you were pushed out of the banking system. May 17, 2016 - Although 700 million people have signed up for a bank account since 2011, about two billion worldwide remain unbanked.

Bitcoin is a huge threat to them, because people can make transactions, without using any banking services. People do not have to use ATM's to withdraw cash or transfer cash through online banking systems. You pay no monthly fees to have a bank account or pay extra for services they charge you.

The banks hate Bitcoin and you see this in the desperate statements that are being made lately. ^smile^

Bitcoin will free you from these fraudsters and exploiters who gets bonuses when they commit fraud.

The whole cryptocurrency has changed the people to use crypto currency rather than traditional banks in developed countries so the bankers are scared of losing their job, in the starting stage of bitcoin bankers did not bother they just ignored now they are aware that bitcoin and blockchain technology is very useful and the banks are trying to implement the blockchain technology to defeat bitcoins. The power of bitcoin are its own users, the early users need to fight to clear the war between banks and bitcoins. The community need to be strong to break the wall.

I voted 20 years because it was the longest amount of time, but I would rather have voted that banks would never be obsolete also, or at least it would take a much longer period of time for them to be obsolete.

And I agree that if banks want to survive, they need to embrace this new technology and provide cryptocurrency services for their customers. They could use this to gain customers and be out in front of this technology. Instead of fighting Bitcoin, they should figure out how to be part of the movement or they may get left behind.

I think Bitcoin will be around forever even if it becomes an underground currency. I think that won't happen but that is probably the worse case scenario.

After a recent comment from JP Morgan it seems like Banks are now in  war with the Bitcoin but the facts are different in a recent post it was discovered that JP Morgan CEO Jamie Dimon  is investing in Bitcoin. So the fact is Banks wanted to create a sense of fear among people so that people get afraid and start selling their Bitcoins so that the price could fall and they can buy for low price which they did, and then later on hold the market by having majority of bitcoins, So the fact is all  such statements made by the banks are pre planned move.

May be you are right somehow but I think bitcoin is decentralized and uncontrollable cryptocurrency because up till to date no any complaint has been noted by shareholders regarding decentralization of bitcoin. Bitcoin is a big threat for Banks and bankers and bankers will keep continue this war with bitcoin in future.

Mostly people are fed up of banks dealing and bitcoin is the best substitute to resolve the people issues, as they have with banks.

who says that it is a battle ?,,,, I think not, if the bank feels it is fighting with bitcoin it is normal ,, the same when a trader is rivaled by another merchant ,, and it seems like the statement appears when the higher the bitcoin value, and the bank is worried if the world is controlled by bitcoin,

I think you'd have in the poll the option never.

The bank system is as old as the mankind.
You cant fight it in a few years, you need much more time

I think that the bank cant will be obsolete.
Because bank is bank, offices, paper money etc.. :D
Maybe they are in war with bitcoin, because bitcoin is a digital currency that have privacy settings, unlike credit card etc.
And the banksters are envious

The capital is limited. You invest $1 million in bitcion which means the bankers lose the opportunity to charge the commission fee  of $1 million.

Make sense, yeah it is like same rivalry that even happens within two banks. That is natural thing to happen. Banks are afraid of the fact that bitcoin is getting fame and the control of bitcoin over international market is getting more and more day by day. So being afraid is natural way.

Yes, JP Morgan has been unmasked now and the Dimon attacks looks like it is being coordinated somewhat. It is effective because they have pull back the prices and they were able to buy it at a low price. However, we already learned from it and we won't be selling anytime soon even if he issues another statement attacking bitcoin.


They may have been warring bitcoin eversince. But its more prominent now because bitcoin price is going up which means that more people are investing on it. As a result the money that should be in the banks are all in the ecosystem. That's why they can't really ignore the fact that bitcoin today is gaining advantage from the banks.

Also the press is in war with bitcoin!

Hm... I am really curious how it will turn out in the end. But still I guess that the banks will make a fortune with cryptocurrencies. No chance it will end banking in the near future...

There are valid reasons why bankers are now in war with bitcoin.. I can only imagine if bitcoin would be use widely and globally, it will become a serious threat for all the bankers because the need for man power would greatly be affected and most of the services from the banks would be cut off. Banks do earn alot of money from their investors but investors does not get much from the bank and I think its being unfair.. Banks only show that they are truly insecure with bitcoin.

The latest from the banksters is that the bitcoin crash caused the stock market crash, I kid you not:

https://www.bloomberg.com/gadfly/articles/2018-02-06/bitcoin-and-stocks-have-more-in-common-than-you-think


This is idiocy, the type of people who own bitcoin tend not to have any stocks at all.

But teh financial journalists need someone to blame - they've been claiming bitcoin is a bubble while ignoring the huge bubble in the stock market.

THERE IS ABSOLUTELY NO TRUTH TO THE WRITE UP AS HEREIN INDICATED. LET US NOT BE VICTIMS OF FALSE NEWS. LET US NOT MAKE THEM WIN THIS. THESE PEOPLE ARE CLEARLY TRYING TO CONTROL US HENCE SABOTAGING THE REPUTATION OF CRYPTOCURRENCIES, ESPECIALLY BITCOIN.

You know, they do this often. They even create pseudo war among Bitcoin, Ethereum, Litecoin, and many others. Otherwise stated, they are making it appear that the platform of one crypto is different from all other cryptos hence people get to magnify the fault in cryptos especially that of Bitcoin since it is the most sought after crypto to date. Purely CRAB MENTALITY, as we all ought to know.

I hope people do not easily fall for these dirty tactics as our every move, as Bitcoin investors, are heavily criticized worldwide. Remember that the price suffers with every wrong move. There are already enough whales in here that try to control the price fluctuation by selling and buying a big chunk of their Bitcoins, I hope we do not add up to that number.   

I don't think banks will go away or die, I guess, Banks will switch to crypto, they will offer interest on your deposit and charge you on loans.