Bitcoin Forum

https://www.cnbc.com/2017/09/22/bitcoin-jpmorgans-jamie-dimon-lays-into-bitcoin-again.html

This time he says it is "worth nothing" because it was made out of thin air.  He also talks about the importance of government backing in a currency and says again that Bitcoin will "end badly".  And adds that more governments will move to shut it down.

 I wish a reporter would ask him about the discovery that JPM was trading Bitcoin after he said he'd fire everyone he caught trading Bitcoin.

This former JPMorgan Chase Managing Director said:

"Folks talking about Bitcoin being a...fraudulent currency, I think you need to be on the other side of that...strongly."

Watch video:

https://www.cnbc.com/video/2017/09/14/tom-lee-heres-why-bitcoin-will-hit-25000.html

Such a joke, they're saying bitcoin has no value because made of thin air but always buying bitcoin and do trading with it. people who didn't realize about this stupid thing may believe him but not for me.
I wonder how much money they already invested into bitcoin and after this bash, it'll increase significantly for sure lol  ;D ;D by all the panics order that are soon to be coming, they'll gone in few minutes lol and the bitcoin will go into JPMorgan's pocket.

Really he talks a lot of nonsense. The main issue from an economic point of view with regards to any money is that they have no 'value' they are near worthless slips of paper or lumps of metal. In this regard bitcoin is no different.

The dollars in my PayPal account are also "made out of thin air".Should i be afraid. ;D
He is kinda right about the governments going to shut down bitcoin sooner or later,but this won`t destroy btc totally.Bitcoin and the altcoins will continue to exist in the darknet.
A currency is a currency only if a government support it.This is the most stupid lie ever.

He defies the true form of a Businessman. He doesn't care how others will feel especially to the new investors in this industry as long as he gets what he wants. This new attack that he made for sure will bring another mark down to the value of Bitcoin which in this he could take advantage of it and bought again. A typical strategy to manipulate the market especially if you are the CEO of one of the controversial bank in the world. He smells money in this field that's why he penetrates it no matter what will it cost to others.

DIMON!

You son of a bitch

the more he bashes the bitcoin, the deeper the bitcoin it dives and the more opportunity to buy bitcoins at a lower prices. Although many would hate him about his negative idea in bitcoin but i admired him in his business strategy. Long term investors would be in his side.

When I was working a regular job across various countries, I used to get my monthly wages out of thin air too. They'd magically appear in my bank accounts, euros, francs, pounds, ringgit... all backed by the government. I even used to get wads of fresh pounds from the South Sudanese government almost daily since they kept losing more value overnight. At least one of that list is looking to end badly...

And yes, why hasn't any of them journalists gone for a good story by asking about every other contradictory move JPMorgan's made re Bitcoin? Or are investigative journalists just not yet into crypto?

Once a large enough amount of traders (and the public) understand Bitcoin well enough (and it's differences with the dollar), Dimon might instead end up crashing JP Morgan shares. Or even the dollar....


If Dimon eventually crashes the dollar talking Bitcoin down, the Streisand effect might get re-named Dimon effect instead :D

I think this is a strategy, what they're doing is they talk trash about bitcoin and so it's price goes down and they'd have enough time to buy big amounts of bitcoin. And most especially he is widely known so, every time he talks bad about bitcoin being worth less it drags the price down too. Everyone should get ready because bitcoin is going to dive down for sure, it's buying time again for those hodling bitcoins.

According to the documentary "The Corporation", if a company advertises a lot on a news outlet, that news outlet will refrain from criticizing that company.

This is part of fake news.

I bet he saved thousands of bitcoins hidden. He will be busted wide open soon. ;D

It wont really work this time.We wont really be affected on those bashes and you are right the things they said are just show off to public to create panic but the truth behind is that they are buying bitcoin.For those people who did already have the knowledge this bashes are pure bullshit.

How can Jamie Dimon say that Bitcoin is worth nothing if it has a proof of work? Bitcoin miners spend thousands of dollars just to make 1 Bitcoin. He's just making statements like this to influence people to not buy and the bitcoin price will go down then his JP Morgan will invest in bitcoin. This man has no credibility and he is the real fraud.

Does this mean he wants to buy more bitcoin so he wants bitcoin to go down again? The problem is some people still believes in this idiot, we should just ignore this idiot who just wants to make a profit from people with weak hearts and those who still believes in him

Let him bashes bitcoin, we heard enough of this guy that everything that comes out of his mouth should be taken with a grain of salt. Specially what he's statement did to the market, but we already know what he did there. He intentionally manipulated the price so that JPMorgan can get at those buying point and laughing their ass at their desk because made millions of dollars. So its up to us, to really not take this man seriously because we have uncovered them as one of the master price manipulator and one of the biggest entity currently. But again, when the price dives, its time to get them back at cheaper price so better have funds for buying once more.

That peice of shit and his constant ranting, he's just jealous of Bitcoins and he can't take the fact that's it's more popular then his company, I am now sure his company won't end well. A ceo who doesn't take care of his company, but pokes nose in other business, shows that he doesn't have much work and that's his company is a sinking ship. I feel we should take it out against him and his company on Twitter, I hope he goes away for good.

I wonder if he realizes the words coming out of his month are negatively affecting his own employees as well as JP Morgans customers? The first house in the usa was purchased with bitcoin.  The customer, agent, and title company said it was the easiest closing they ever did 10 minutes and money was available.  it was in Texas if u want to check me.  so he is very scared.  The banks would normally be right in the middle.  Jamie should be figuring out a way to embrace it not try to bully over it.  People are tired of being bullied by these greedy people.  This is perfect time to get in if u have been on the fence. 

i believe this time it is more like a middle finger to everyone since recently (i think it was yesterday) that they said Jamie Dimon is going to get in to trouble with the Swedish financial authorities over manipulating the market.

it would be very interesting to see how this ends though.

ref: https://news.bitcoin.com/jamie-dimons-bitcoin-statements-reported-as-market-abuse-in-sweden/

He was bashing bitcoin in 2014 too. He just can't see it coming, sad!

JP Morgan customers might be fleeing to other brokerage houses, in order to diversify into this new asset class.

Fidelity CEO took the exact opposite approach.  She's enabling customers to view their crypto holdings in Fidelity's system.

Yes, I also read that news and I was laughing because someone take Dimon one on one. LOL. It would be interesting how he will defend himself. But I think nothing will happen out of it because its really hard to substantiate, its a free market after all.


He is after all the very definition of a businessman/opportunist. Definitely his statement will affect the price as I see it going down to $3500 now. And we still have the local Chinese exchange closing its operation at the end of the month. So it gonna be another bumpy ride starting today up to the end of the month.

I doubt anything will come of it, but the story also mentions a Swedish firm has filed a complaint against Dimon for market manipulation. 

BTW, why does my post now say "suspicious link removed?".  It was cnbc.com ... a pretty well known financial news website, if anyone wants to see the story for themselves.

I think this is a well executed plan in giving bitcoin another storm, you can surely see that the fake news back then is no laughing matter anymore many is surely believing about this kind of statement, and it is from a well known  people and company that are keeping giving FUD about bitcoin, you can surely see the amount of damage that has done by it, and now the value is depleting again, we can see the outcome of this kind of bad comments about bitcoin.

No it won't, it's 100% predictable that Dimon will either face no consequences at all, or that the consequences will be so meager that they'll never affect him or JP Morgan seriously.

Most likely outcome: Swedish watchdog/ombudsman says, "Bitcoin is unregulated, therefore Dimon can say what he likes"

Maybe banks start to loose clients and they feel endangered because of cryptocurrencies.

These guys are bankers and investors at the same time. These guys understand how the bubble works, and if they can profit by talking bad about bitcoin, why wouldn't they? it's reasonable from them, but also using the same tactic again and again won't be so profiting for them!

Who the hell is he? I don't know him but ugh, i already dislike him.
I know bitcoin is abstract, in which i mean it has no shape, or we can directly touch and sense it.
But that doesn't mean bitcoin is useless and will end badly. And even ask the goverment to shut bitcoin down.
I'll never ever agree with that! There're many people that put their hope in bitcoin, why should him bother interfere if he even doesn't use btc? I'm confused.

Overall, no impact. Let them voice out their thoughts or so called FUD. We have freedom of speech.

On the positive note, do they really think they can wrecked the moral of bitcoin investors by spreading negative thoughts. Are they powerful enough to do it? They are nothing compared to BCH developers which is way more impact than them in terms of creating FUD.

He clearly hasn't properly researched bitcoin or just feel threatened by it. I'm assuming it's the latter. I don't know who this guy is but it's probably a banker or someone who will be irrelevant if bitcoin and crypto currency become big.

I bet this time no one will believe him.  He is like a dog that keeps on barking.  Anyways they said that he bought some bitcoins and maybe he wany to buy more bitcoin.  He just want other people to panic sell their bitcoins so the price will go down and it is an oportunity for him to buy more.

Jamie Dimon would probably be bankrupt and in jail by now if the government did not back the Banks and people like him.

The Banks were funded by Taxpayers money to keep their doors open. They already failed, and now they are pointing fingers

at Bitcoin. It is either that or he knows the government is going to back him again and fight with him against Bitcoin.  >:(

I think that people who already have bitcoin are a little bit informed about what they did with their money.
None of them is going to sell because some guy they probably never heared the name before gave an interview or two. At least I don't think so.
Everything Dimon can achieve is to stop a few people from buying.
Personally I don't think his fairy tales have much influence on the market.

He bashes it to insight panic.  When in reality, he and his company are probably buying up everything they can with accounts that aren't linked to them.

I love John McAfee's new name for him:  Jamie Demon.

In all seriousness,


Lets face it, the China events, the recent attacks by Dimon and other heads of funds and institutions, have taken a toll on cryptos.

The reality is, that these folks are out to destroy bitcoin before it destroys them. So as a pro Crypto Community, how can we be more proactive, to rebuttal these sometimes phony attacks and inform investors?

Same reaction! Who the frog is that Foucard?! 'Scuse my french.

Now he catched himself some Market Abuse Report filed against the very Mr. Dimon, from a company labelled "Blockwater" and that's ingenious. I am a sucker for branding. Sounding similar to that private military company run by former SEALs. Let us hope they are on occasion equally short tempered.

He is really a fraud, he has been continually giving negative points about bitcoin, he may have a thought that by saying bitcoin to be worth nothing people will get scared and the price will drop down so that he can buy more coins, may be this can be the truth behind it.

Unfortunately, he's regarded in the financial world as somewhat of a hero.  He's the CEO of JP Morgan Chase, a huge US bank, but is best known for standing up to congress during the "bailout" hearings of 2009ish when congress was frothing at the mouth to find a villian at the banks to pin that on.  But he's not a clean player, either, JPM has been fined for their actions in the financial crisis.  But, unfortunately, his status makes people listen to him.  He's pretty influential. 

no mate its another strategy to invest silently inside crypto while they are holding peoples money they will place it inside crypto and safely
earned while the market of crypto is shaken bankers are just playing around and take advantage of it, that's how wise businessman thinks
so better to think before we react.

Yes, I saw the story about the house being purchased with bitcoin a couple of days ago -- this was an important milestone. The story is here for those who want to check it:

https://cointelegraph.com/news/first-bitcoin-only-real-estate-transaction-completed-in-texas (https://cointelegraph.com/news/first-bitcoin-only-real-estate-transaction-completed-in-texas)

http://www.zerohedge.com/news/2017-09-20/somebody-just-bought-house-bitcoin (http://www.zerohedge.com/news/2017-09-20/somebody-just-bought-house-bitcoin)

You have understood about it better because the this is the strategy business people for and try to hold the economical shares of the any project. He bought million worth of bitcoin and bashes the same means it is not good at all. Just fuck out these kind of the people.

Well he could be right about governments. They definitely like to keep their money close, and want to know where it comes from and where it goes, and bitcoin causes a very big problem for them, so if it gets to big they will act. The thing is, unless you live in a very strict country, I don't think they will say it is illegal. But take a look to Venezuela, where mining is not even illegal, and they are still chased by the police.
So for me, most countries will find other ways to collect taxes from it. Japan is doing a fine job in using bitcoins, so maybe the majority of the world will be able to act like them.

Maybe they will follow Japan, but not at the moment. Think that most wait to see how will it be with them, after all they are first to fully adopt bitcoin in every day payment.
BUt tricky part will be government in all possible way, yes, they like to keep money close but we are in technological era and almost everything is send online, maybe they are considering and trying to create some alternate or some government blockchian, have someone consider this as option.

I have said it before and will say this again, you need to read things between the lines. They are not billionaires by miracles; they are there by brains, so they don’t put time into stupid comments unless it’s worth something.

It doesn’t matter what he said, there is always a different purpose for these things which not many are able to read.

This man again spitting this, I guess this is a form of coordinated attack against bitcoin but unfortunately for them, it wont stand and I guess we gave him the relevance because the last crash was credited to him which gave him the honor that his opinion really mattered in the scheme of things and with that, he saw it as an opportunity to launch further attack against bitcoin.

Earlier in the day, I read about a case filed against him and I now wish that should just go through and make him as a bad example to those who choose to run their mouth badly and now he is not only speaking for himself, but equally for governments.

And time to retire, bad mouthing Bitcoin while JPM buys Bitcoin on the dip is market manipulation! You guys better, Do not listen to this person. I'm already started ignore this shit.

I've read this news too. This guy must be afraid of bitcoin's total success. He must be protecting a personal interest that endangers with bitcoin's victory.

Found that https://en.wikipedia.org/wiki/Jamie_Dimon entry, NYSE: JPM even beeing the biggest and he is their president. Parents had been immigrants, he seems to have made it by himself. Survived cancer three years ago. Have to dig into this, usually celebrity from the banking universe isn't my primary focus. Crypto basically opened a formerly unkown small universe of money matters to me.

oh well here we go again but i think that dimon is using this opportunity just to make nore money by just critizing bitcoin and will result to price crash and he will seize the opportunity to buy more bitcoins but he thinks that his word can make the bitcoin price go down so he did it again but i don't think it will gonna work again why? this month's huge crash was result of china' s banning on exchanges and ICO.

That person want to start a new business in digital currency so he spreads rumors like that bitcoin had made many investors rich if this was fraud no one will be so confident on investing in bitcoins.so don’t listen to such kind of people they don’t just want to see the popularity of bitcoins.

He wasn't happy enough with the recent dip reaching only as low as $3K. He expected it to go down further to $2K for him to buy more btc so he did another trick. How predictable for a guy of his standard being a CEO and all. Go ahead Mr. CEO! Have fun bad mouthing btc and we'll be here eating popcorn while we watch your show. ;D

Three Wall St pros have joined in to take the other side of Jamie Dimon:

Josh Brown of CNBC
Gormn, CEO of Morgan Stanley
Analyst from McQuarie

I thing all of this popular peoples who are saying wrong things about bitcoin are making profits from this. They contact a big investor than they post something wrong about bitcoin. When the price falls investors buy bitcoins because they know the pricw will grow again. Thats how I see the situation

Oh dear. Well Jamie, try your best - history will tell and I am marking these moments down for future posterity to show my kids as an example of why not to listen to the establishment every time. "You will go to jail" Talk a bout a FUD spreading twat!!!!

hah, this guy just doesn't want his job to be irrelevant when BTC gains traction.

Hehe, indeed. His action is too easy to be predicted... ;D

If Bitcoin ever further dip below to $2K - I'm also won't miss out the chance to grab more of it lol

Even I went through an article about Jamie Dimon again trying to bash Bitcoins. While his interview with CNBC India he said "It is creating something out of nothing which is worth nothing to me", he also added Bitcoin is a kind of novelty and people think they are kind of neat but the government will shut them the bigger they get. I don't know what really has to be said about this, China also banned Bitcoin recently so this adds up to Jamie's point. And from what I have heard is many employees of JP Morgan were kicked after knowing about their bitcoin trades. I don't think this time the bitcoin prices would go down or maybe go down again.

Who cares , if you believe bitcoin will become something it doesn't matter what 1 guy says.

Have the same feeling. They dont buy small amount like most of us here they buy in thousands to make huge profit with multiple account.
They sad so many times that this is fraud and that only criminals use bitcoin, but in the end what are they?

Yes that person is totally fraud and those who have believe in bitcoin don’t pay attention toward some mentally retard guy words they just stick to their aim, on other hand many people are talking about Chinese ban this is also use less they cannot effect the value of bitcoin, so invest without hesitation and secure profit with both hands.

he is shaming himself all his life for doing all these, he may be lughing his ass for now but his kins will thiink of him being one of the biggest fraud when his sons sees bitcoin goes more than 5k after a year of bashing it.

does he ever have a son? he looks gay.

I think he needs to reasses what he is saying, since he keep bashing on bitcoin, the more people will be curious what is bitcoin, the mere fact he is saying that bitcoin is made out of thin air, he needs to do his research more on block chain technology, if he still doesn't undesrtands it, its all because of him. He will still keep bad mouthing bitcoin anytime he can, since some ICOs are bring being closed, he keeps on doing it, but he could not stop bitcoin. I think his trying to lower down the price of bitcoin, trying to manipulate it, but the fact that bitcoin's value fell a few weeks ago, is due to yhe move of china, not because of him, it seems that he also wants to capitalize on the move being done by korea, it seems to me, he eants to use the media and the current events, to mislead people in believing in him, that everytime he speaks, the price of bitcoin goes down, but certainly not this time.

I really wish that man would give it a break, he clearly is driving some form of an agenda and it appears to be a devious one.

It's sort of funny because government issued fiats are the real currencies which are created out of thin air. They are the ones that do not have any sort of limit on the total amount of money that can be ever created and debt ceiling are often lifted.

Bitcoin needs to government backing, because it is a decentralized network.

As it is decentralized, it cannot fall to the rule of a single person and they cannot abuse the network for personal gain.

You are correct and most people realize this fraud and waking up already. But still its hard to abandon this present system of ours using the fiat,  while this cryptocurrency is something, all they can do is speculate.As long as there are many people believe in bitcoin, it will continue to exists.

This parrot is getting annoying with his trolling. Basically he is the true definition of a human garbage. Because of people like him we need bitcoin even more, and because of people like him btc along crypto will dominate the online domain and then conquer the real realm.

Looks like he is getting into your nerves. Don't be. Because that's his intention, to bash bitcoin so that guys like you would be so annoyed that you want to sell your coins. Don't be swayed by his tirade on bitcoin. Let him do that. And the moment that he open his mouth again, its another publicity for bitcoin. And besides, we already proved him wrong because the price is going strong and even brewing for a bull run in the next coming weeks.

I'm sure he's gonna attack once more, but we already know his goal, to pull back the price again. But we won't let him do that because we have matured enough not to listen to him.