Bitcoin Forum

Hi, what is your opinion about this ?
https://fxpmarkets.blog/2017/09/15/bitcoin-is-a-fraud-said-jp-morgan-ceo-jaime-dimon/ (https://fxpmarkets.blog/2017/09/15/bitcoin-is-a-fraud-said-jp-morgan-ceo-jaime-dimon/)
I heard JP Morgan bought  a lot of bitcoins after the fall,
do you think is only manipulation ?

old news already and nobody cares anymore.
try the search function of the forum to find a dozen topics talking about it. :)

there is a topic that somebody posted a screenshot of the place where JP Morgan is among those who bought the most amount of bitcoin after the big fall.

That's an old news circulated in the market just before the recent fall in price. I think that's how a smart banker has manipulated the price and probably had entered in to bitcoin to make quick profit. However, after Japan issued the first license to a crypto coin exchange CoinCheck, the price got stabilized.

Jemie is a smart banker who might have taken this route of manipulation to get a suitable price to enter in crypto market by fooling us all and we have fallen prey for his trick. But we are not sure about whether he has got into crypto or not because there's no strong evidence for that.

Still wanted to respond to this by the way. Are there really people listening to what CEO's form banks or big financial corporations? I can't imagine people hearing/reading what these guys say and say:"I guess he is right, cuz people in the financial business are legit and honest people". On the contrary, around me, friends, family and collegues all seem to believe the opposite of what these type of people say.

Hmmm... It's old news but this was made viral only for manipulation. Even i came to know that they bought heavily after the fall , the fall was due to china ban on ico and other exchanges. you can look at the article link for more information on how much did jp morgan bought after the fall, link given below.    https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/.

This is how the professional enters and exits from the market they make other trader's to sell their bitcoin and then they enter in their trades with heavy positions.Professional and Smart money enter's their position when amateur's exit from their positions, this is one of the thumb rule of trading. I think bitcoin is currently trading near $4000 levels again and now it will make a new record high for sure check it yourself.

This has been the topic since last week well Dimon is a good banker and he knows what's the right thing to do.

He probably want to get a big control in the market and wants to manipulate it as taking advantage with the ban of bitcoin on China.

Bankers are greedy, remember that they will not let themselves left behind in something that's profitable.

It is an old news, i dont know if it is real or fake
Bitcoin maybe considerated as fraud because is a digital currency, so many people can think this, the bitcoin arent backed by nothing...
But for me this isnt a fraud

This one is old news. A lot of topics in this forum regarding JP morgan's claim. First is that bitcoin is not a fraud, well at least this is for the people who know about bitcoin, and the skeptics? Well they can just think what they wanted to think about bitcoin. People are afraid of the unknown and because they dont know what bitcoin is and they did not even bother to research about it they will just believe what some rich, famous or powerful person will tell about bitcoin, but we can't blame them as they only wanted to make sure that they will not be having problem about it. Now for the wise guy such as the ceo of JP, since he can't control the currency he somehow may be able to manipulate it. So he spread this news that bitcoin is a fraud even if it means putting his name on the line. As long as he makes money out of it this reputation means nothing, in the latter you can just get away with it saying apologies and stuff but still after that you get a huge amount of money doing that. If i was that guy i would probably do the same. In the end he is the one laughing not the people who believed on what he said.

Is it really a surprise that a senior representative of "the established banking system" feels the need (whether out of desire to manipulate or simply to denegrate) to make such an inflammatory statement?

IMHO - 1. The bitcoin price fluctuation (which may have more to do with fears around the China ban) - and subsequent 75% recovery is a clear reflection that the Market seems to know better than Mr. Jamie Dimon.; 2. I'm more than a little annoyed that this comment has (yet again) made the focus so much on Bitcoin and not on the revolutionary value of Blockchain itself; 3. I'd love to know how Jamie Dimon's daughter feels about all the bitcoin currency fluctuation and what kind of dinner table lessons of life are shared/discussed.

JP Morgan doesn’t just purchase bitcoin notes, but is also heavily involved with the ‘blockchain fever’ that has infected banks across the world. The financial firm has applied for a “bitcoin alternative” patent with the U.S. over 175 times in 2013. The company is also working on an ethereum-based blockchain alongside, according to people familiar with the matter, working with Zcash development as well. With the ethereum project called “Quorum,” JP Morgan has its own Github repo that explains how the permissioned blockchain does not need consensus mechanisms like Proof-of-Work (POW) or Proof-of-Stake (POS)


Source
https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

Lot of people talking that he told bitcoin is a fraud but he hires blockchain engineer.. the thing is that we easily forget that bitcoin is a currency based on blockchain tech, and blockchain is a tech.. two different thing on the market

Fuck JPMorgan’s CEO. All he wants is to lower the price so that he can buy more and more bitcoin. it is true that he told bitcoin was a fraud to cause a big dump and buy bitcoin when the price was extremely low. People tend to follow one who has power on the market and follow their statement. If Trump says that he dislikes bitcoin, there will be a lot of people selling their bitcoin

Crazy how almost everyone knows this and yet people actually responded to this by dumping their bitcoins...guess I am wrong then and a lot of weak hands are still in crypto,..

What can I say about this, totally a fallacy... They tried to take control over cryptocurrencies and take copy rights of the coins, but they couldn't. That's why, they're now blaming bitcoin and spreading black propaganda.

Those guys are assholes. They tried to bring down bitcoin prices and then when it went down that was the time they bought a whole shit load of bitcoins.
I think what they did was a business maneuver so that they can buy big amounts of bitcoins at really cheap prices. I guess it worked for them. This is why
we should stop trusting banks. We should have stopped after the financial crisis.

There was claim that the transactions were done by their clients. Nevertheless these news caused prices to fall for certain period.

Indeed, who knows what Jamie Dimon was up to. Him using the word fraud is an interesting choice though  ::)

If you ask me, it's not the fact that he believes that it's fraud, or a scan, or a bubble. He's scared shitless when it comes to Bitcoin. The fact that almost everything he's learned over his lifetime is changing with bitcoin bending economic concepts, He doesn't have that power he used to have. The fact that he is firing and threatening a divorce means that it's gotten to his head. It's just not rational.

ah another attempt to suppress bitcoin's price so they can buy it up.

He isn't "scared shitless", far from it. He created fake, false FUD in order for the price to drop and when it crashed he bought millions worth under JP Morgan licensed businesses and made a huge profit from it.

I will admit it is quite strange that someone would trash the very thing they are investing in, but crypto markets are not your average ones.

No he's not scared to bitcoin. It's just a propaganda a we know as banker is making money out of thin air and with their loan products they are using their mouth for it to attract their borrowers to borrow some more. And just like in bitcoin, he wants to buy at dip and he uses his mouth just to scare people to sell their bitcoins by indicating that bitcoin is a fraud, a scam, a dark market money and so on. He uses his popularity when it comes to money making, now he got a lot of bitcoins now bought at dip, we may know he'll eat his words and put a statement that bitcoin is not fraud or he'll make a public apology.

I believe this is just a strategy to buy cheap bitcoins.  Right after the announcement and Dimon himself saying he will fire anyone under him trading with bitcoin then the information about them buying hundreds of thousands of dollars bitcoins during the fall.  A manipulation to its finest :D.


True, if they are honest to themselves, they can just reject the request of their client to buy bitcoin and advice them to buy other investment, instead of fulfilling the request to of their client to buy hundred thousands worth of Bitcoin.  Well that is if it is really their client buying bitcoins.  

This guy seems stupid. Every new and innovative thing come out, there are always people who oppose to it, and call it fraud, there's no strange to it.

Obviously no one cares, they are expert manipulators of the market but they forget that bitcoin is a technology as well, so if I cared about the opinion of anyone outside of bitcoin it will be the opinion of people that know about technology and not bankers, and when you look for opinions of people like that they all agree that bitcoin is here to stay.

At first I was concerned about this news. Then I read the article and realised he has no clue about bitcoin or the backing it has across the globe. What a dick, he probably bought 1mil worth after he caused the price to dip.

That is a very common tactic, I do not know if you have ever bought an used car but that is the tactic many people use, after you get the price from the seller then you need to try to get a discount and the only way to do that is to pin point the defects of the car if you are good at this you are going to get a better price.

Apparently there has been a complaint filed with the Swedish Financial Supervisory Authority against Jamie Dimon and JP Morgan over Dimon's bitcoin comments. An outfit called Blockswater is claiming that Dimon violated Article 12 of the European Union's Market Abuse Regulation by declaring that bitcoin was "a fraud":

http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments (http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments)

yes they manipulate it, they make the rumors getting hotter over the ban from china. until finally they buy bitcoin. this is a game. yes i guess that's them

Well I dont know, but one things for sure that they are afraid if a lot of people invest their money on bitcoion rather on depositing it to the bank.
Investing your money on bitcoin will have far more greater return rather than putting it in a bank for sure. Maybe that's their way of making people feel afraid of investing their money on bitcoin.

This is one way of huge investors to be able to buy cheap bitcoins. They are playing their cards well. Since he already has a name, he can easily spread FUDs that will have an impact to the price of bitcoin. News will then spread about his words. But the people are blind that behind such words, this man is a huge bitcoin investor.

Actually, there is a group of bitcoin enthusiasts and supporters who already have filed a case against Dimon under the European Union. According to Florian Schweitzer which I have read from Twitter, Dimon's statement did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system. Also, Schweitzer believes that Dimon has violated Article 12 of the European Union's Market Abuse Regulation (MAR) by calling cryptos a fraud.

i feel an odd satisfaction about this news. although i know that it won't matter in the end since they are good enough to throw the complaint in the trash and justify it somehow.
but the market manipulators like them should really be punished. it is actually illegal to manipulate market in any form and it is punishable by law.

They just bashing bitcoin to get opportunity to buy lower  ;D

This is the bad behavior of those who want to redeem themselves, they try to make big waves that have a strong impact on btc, wait for them it down to buy and push it up for sale.
The way they do it is shy , I really hate this.

The CEO of JPMorgan, Jamie Dimon has officially tainted his reputation with these statements he made in public. If you point the finger to another technology or organization and your own operation is a dark pit of corruption and fraud, then you made a ass of yourself.

People are not stupid and they know JP Morgan is one of those banks who cannot point a finger at anyone else, because their history is tainted with fraud.

After the price dropped, they bought some more Bitcoin based derivatives. How ethical is that kind of behaviour? This is why people should stand up against these types of people and organizations and expose them for what they are. ^smile^

Most people do  not care, those people are vastly responsible for the worst economic crisis in the last 80 years, a crisis that we are still going through and people still decide to invest in those dishonest organizations, to be honest I cannot wait for bitcoin to become mainstream and to see those institutions destroyed.

And the former JPMorgan’s CEO is a strong Bitcoin supporter. Bankers are just scammers searching their own profit.

Bitcoin is living in Jamie Dimon's head, rent-free.

This guy at JPMorgan is sitting on the biggest fraud of them all... Check out the billions in fines they have already paid out this year!!!

This is why I think bitcoin may succeed in replacing banks while in theory banks and bitcoin are enemies the guys managing the banks are going to see a way to make profit with bitcoin and are going to adopt it then they are going to realize too late they sacrificed long term profits for short term profits.

I seriously doubt that bankers would allow that to happen so easily, they're prob just benefiting from this situation but I highly doubt that they wouldn't go all out if they see that the bitcoin is threatening their businesses. Because I think we all know that big banks aren't just like any other business out there.

JPMorgan is actually deep into crypto and these statements are just for money making. They have a blockchain technology called Quorum (https://www.jpmorgan.com/global/Quorum).

They probably wouldn't spend the resources to create it if they thought it was crap =)

Of course they are going to go all out against bitcoin but the issue is that they are not going to do that until it is too late, right now they see bitcoin as a thing that only nerds do, but wasn’t that the way people thought about video games in the past? So I think they are going to make the mistake of underestimating bitcoin.

Tom Lee, former JPMorgan Chase Manager Director, said to take the opposite site of Dimon..."strongly".

I think that when a sales trader in investment bank front runs his clients orders, or sells junk bonds with lucrative yields, that is a fraud...

True but the problem is that kind of fraud is allowed and people no longer even see it as fraud, just look at the interest rates, people think of high interest rates as usury, but in the past any interest rates you were asked to pay was usury and it was illegal but now people are so used to being robbed that way they no longer see that as a crime.

Everybody has his own point of view. If bitcoin is a fraud then all the other digital currencies would also be fraud including ripple which is widely being used by banks. He is a banker and his fear is being reflected in his statement.

There are rumors about JP Morgan holding on some bitcoins also. If China has failed to destroy bitcoins, then Jamie is actually negligible.