Bitcoin Forum

JP morgan is coming.
what is next? ETF?

https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html
https://www.cryptoglobe.com/latest/2019/02/u-s-banking-giant-jpmorgan-chase-launches-its-own-cryptocurrency/


Video -
https://www.cnbc.com/video/2019/02/14/jp-morgan-crypto-currency-bank-blockchain.html

screenshots :

https://i.imgur.com/Uy6lWx7.png

https://i.imgur.com/s9vB0ui.png

https://i.imgur.com/J4Zkmwo.png

https://i.imgur.com/WsuCYub.png

Read this news on cointele just today too and its peg to USD same as the stable coin these day. Since they are hoping banks are going to be using it, does it mean XRP isn't?
For ETF, I think they will really be approving it one day if the government wants their cut from this market, its the best option.

XRP isnot good for transfers, becouse maby you lose your money - if price gowing down.

for me JPM coin will be usefull - if will be tradeable as USDT or TUSD. but we can see. maby it will not tradeable on exchange. we can weit, but i think this is great green light for other scepticists.  JP morgan is Big financial institut. and if JP morgan is Trusted in cryptocurrency and blockchain - its great.

this is Opened door for new gamers.

I do not believe that they will create a decentralized coin. For sure it will be something similar to XRP, which is a coin that they will be able to control. Banks will never voluntarily give up their power over money.

lmao
Calling bitcoin a scam
and launching their coins

Bank lul, never trust banks  ;D
i mean they are dodgy af

This is Stablecoin man,  price will not grow up, and will not down.
this will be only fixed price. but its will be better then XRP, becouse of  GPM will be Stable digital currency, this is somthing new. we want big players on game.  we want more and more trust. and if GP morgan is on cryptocurrency - its mean for newbies : JP morgan  think so = crypto is future. and we want it.

This is GP morgan :D :D



GPM will be Stable coin, price will be alltime 1 USD $
this willnot decentralizec coin, but GP morgan is in game. its big trust for new Billions.

hahaha, this is awesome.

its mean : Bitcoin haters are coming with bitcoin side.

this is great marketing words.

Yeah I just read the news, it's really fun how those guys are really bad mouthing bitcoin in 2017 and then uses the same platform, blockchain technology to create their own shill coins. But this is just a banker coins so I wouldn't consider it as crypto though, its for their own personal used and nothing more.

Its the stable coin that can actually scam you without you knowing it. Didn't it happened before with Tether?
The price of stablecoin such as USDT also fluctuates you can see it on the market itself. Stablecoin is where they can scam the most and can likely control everything in the end.

They call BTC scam but created their own coin? Don't you think they are up to scam too?

i dont think so. becouse this is GP morgan. and if GP morgan will be scam, they will lost Big monney on  STOCK EXCHANGE.

and you think for bln - they want lose 338 BLN market cap?


GP morgan have  338 000 000 000 usd marketcap.

and you think can be SCAM? 

Lol that guy doesn't even know if SEC was always watching this company and any decision that will be taken by the company will give a huge impact to the stock shares of this company. If this is a scam and they have already jailed by the regulators.
That guy must learn more about this.

Thats was really funny, i tough JP Morgan hating the cryptocurrency and now try to turn make their own cryptocurrency. I think his currency just like XRP maybe Centralized currency.

Soon all the bitcoin haters will come around with their tails between their legs. The next one will be warren buffet who will buy 100 bitcoin squared and pump the markets!

This sounds like the next centralised coin for internal usage and IT IS AGAINST us, users of decentralised coins!  This coin will not lead to any more mass adoption. I guess just some JPM partners will use it within their structures. 

Remember those days and now changing his mind and adopt cryptocurrency. Well, this can still be a good news despite of poor system of the banks, but of course I will not adopt their coin because I know its a centralized one. Let’s see if more haters will do the same in the future, this is really interesting.  :)

Same value as the US dollar just another stable coin experimenting on blockchain they once actually criticized I think Crypto is actually stepping up despite all the market hits Good

Only a year ago, JPM CEO was bashing bitcoin and cryptos as scams. Now they are joining the crypto club!

Yes, previously many times the price of Bitcoin decreased due to the wrong speculation by the JP Morgan but now he is supporting and launching his own coin in the market. This makes us more interesting because soon many companies will join in cryptocurrency club.

Is JPM plays an important role just for the ETF to get an approval? It's been known that Jamie Dimon have been saying bad things about bitcoin, called it a fraud and other negative things that he can throw to it few years ago.

Creating their own cryptocurrency means that they are legit greedy. Understanding on how the crypto market works will change it's CEO's point of view and will start an act like this. Don't also be surprised if in the future JD/JPM will say that "bitcoin is the future".

There are more banks backed by fiat money (that are not backed :D).
HSBC has its own coin, I have heard also about Deutsche Bank that they have a plan to create something similiar.

The owner of Nobel economy price said that JPM Coin is a joke  ;D. Finally, he told something cool because he is big hater of cryptocurrencies.

The JPM coin is pointless, it's just an internal token for use on their own network. No idea why they need blockchain for this. It just seems like a bit of a publicity stunt. But if JPM feel that crypto is the next big thing, and they need to show that they're keeping up with trends, then that is a good sign for the future of genuine crypto.

JPM coins is as pointless as the xrp token.

Other pointless tokens coming. Every large corporation will have own no-cost, non-mineable token.

GMO Internet, a Japanese IT giant, has revealed that it plans to develop its stablecoin based on yen (JPY).
https://www.blockchain24.co/stablecoin-in-japan/ .

And the next no cost project
https://www.vakt.com/

well, our market is in a pretty good stage. Large businesses are taking advantage when the crypto market has little capital to enter the market, this is a very smart strategy from them.
Large businesses will gradually join in like JPMORGAN Chase and our market will soon be rich again.

This news really stunned me. I cannot expect that our crypto market has such great appeal. When we are joined by large businesses, our capitalization will certainly be greatly strengthened and that is the premise and motivation for other businesses to enter the crypto market.
This is an extremely good news and it makes me extremely excited.

JPMorgan came in a while ago, mainly in 2017 when they were spreading a lot of FUD about bitcoin whilst buying as much as cheap bitcoins as they could get their hands on. off the market and on the market.

then they didn't stop there either they created their own shitcoin to make even more profit. and this is exactly that.
don't get excited for it, this won't lead to anything specially things like ETF!

I feel like the majority of other commentators before me fail to grasp that this coin will be ony for internal transfers. It won't promote the usage of cryptocoins, it won't help us in any means. It just uses the blockchain technology, so those big fiat whales could exchange even faster to make even more money. JPMcoin could have a negative effect on XRP, though but we can't know for sure right now.

JPM token is just the beginning.
Other banks will follow and also corporations Apple, Facebook..... or the Japanese IT giant, https://www.blockchain24.co/stablecoin-in-japan/

Several countries (Russia, Saudia Arabia, Venezuela, UAE...) also said they will create the own mathematical (crypto) currency.

If you only can pay with Amazon tokens at Amazon so be it.

One thing is certain, NO COUNTY OR CORPORATION WILL HAVE A MINEABLE COIN all they will ever have is no-cost coins.

Let’s start with the obvious. Ripple now have another huge contender (as do SWIFT for that matter). One of the major benefits of JPM Coin and - any other bank created crypto which follows the precedent – is the ability to instantly settle payments. Currently, banks rely on legacy systems – such as Swift – to settle payments, something which is often referred to as outdated (hence legacy) and ultimately, slow and costly. Ripple saw this as a gap in the market, swooping in to offer their expertise in blockchain technology and even offer some instant liquidity solutions in the form of XRP and its integration within one of the firm’s remittance solutions, xRapid. However, with the incipient JPM Coin on the way, it seems as if Ripple will have to compete even harder if they’re to win over any further business from major banks. With the introduction of JPM Coin, there are many possible outcomes pertaining to the effect on crypto as payment. Here are just three:

1: JPM Coin becomes the standard for bank payment settlements.

2: JPM sets a precedent for other major banks to create their own cryptocurrencies.   

3: Ripple (and other competitors) undercut JPM and Banks defer to use these.

The third option is perhaps most likely, JPM doesn’t have unilateral control of the free market, albeit their dominance is prevalent, it is still likely that this will just create further competition. Interestingly the second option is also likely, especially in the long term. A recent report from the Bank of International Settlements (the bank of central banks) 70% of the worlds central banks are looking into the creation of central bank digital currencies (CBDC). Well, just my two cents on this. I'll continue now with my online roulette (https://to.crwd.cr/vday) game. Cheers mate!!

If people want true decentralized crypto coins, why will they buy bank issued coins. What will these bank coins be backed by? It is way smarter to buy real asset backed tokens such as the gold backed poken from Populous at a nice discount to market price.

It's a lot of courage to launch this project after criticizing Bitcoin! At least if he had the intention of making these criticisms that he did after he was launching his shitcoin! Who will buy it? It's true that this bank can make a huge volume, but will the SEC allow it? They hunt simple and common users, will the SEC do something? Huh, I don't think so! ETF? It's sad to know that they put all their hopes into it.

I don't know good or bad news, but I see this is good news, because before jp morgan sentiment towards crypto and now they will make their own crypto, and hopefully can raise the price of bitcoin and altcoin a little.

It's more than XRP because this so called coin is for their own used only so I wouldn't even compare it to XRP or any other coins in the crypto sphere.

https://cointelegraph.com/news/ripple-ceo-brad-garlinghouse-says-jpmorgan-coin-misses-the-point-of-crypto


I wouldn't put too much weight on this news, no need to hype it as if they change their tune in accepting crypto or something.

it is a good news for crypto market for sure. new adaptations to blockchain and cryptocurrencies. more people will hear about crypto currencies. but of course it is not a good thing for ripple project  ;D

XRP misses the point of crypto to start with, that junk is done. JPM want be the last bank to have its own xrp copy operating.

They say bitcoin scam to lower the price of bitcoin and after the price of bitcoin goes down, they make a lot of investments in bitcoin. That is a sneaky tactic from big companies.

It was only a matter of time until a company like JPMorgan jumped on the crypto train and created their own coin. This news is not very surprising to me. But since it is only a centralized coin, I don't find it really interesting and will probably never use it anyway. The only thing good about this news is, it shows once again that crypto continues to spread and I like that.  ;D

IMO the JPM thing is just a joke. It's not real crypto, it's just an internal coin that is trying to make use of a trendy buzzword. Why do they even need blockchain for something like this? It just sounds like they are trying for a bit of publicity.

The next thing is that other banks will follow JP morgan example and create own coins. I think as a result ripple should disappear because everyone would realise non sense utility of ripple

Not just Banks every large corporation like   GMO, a Japanese IT giant  (https://www.blockchain24.co/stablecoin-in-japan/) Facebook, Apple....
XRP always was just a money grab, if anyone thinks banks will rely on some shady company to do things, is just a fool.

Do you have proof as you said they have a lot investing on bitcoin? or that's just your own speculation
don't make an opinion that refers to a certainty if you don't have any proof

Ha ha, is this not the same guy calling bitcoin a scam on three occasion, in short when he called it a scam in 2017, the price dumped and they used that opportunity to buy at the deep in order to make lots of profit.

This is just warning to bitcoin and crypto haters out there, you will soon become the next JP Morgan's coming into this great community. There is  popular saying: if you can't beat them, you join them, LOL.

https://www.theblockcrypto.com/2019/02/18/wall-street-analysts-throw-cold-water-on-jpmorgans-cryptocurrency/

Facebook, JP Morgan, and in the not too distant future possibly Amazon will also be bringing cryptocurrencies into their ecosystem which is a big positive for the technology itself and what it can offer users as a new and more efficient way to transact and share value which will help increase awareness and adoption world wide and give the industry a big boost recognition wise

I think he is referring to when Bitcoin reached $3,500 in September 2017 and one of JPM's heads said that Bitcoin was fraud or something, so the price went up, but days later companies linked to that bank placed huge orders following the speech of this important person. Anyway this project will have this negative memory, because the understanding is that he criticized Bitcoin to be able to open space to his project.

They may be launched a cryptocurrency but I believe it is a centralize cryptocurrency, and as far as I know, the crypto community is not really welcome with a decentralize coins. And don't forget about all those bad things they said about bitcoin and cryptocurrency back in 2017. I don't think who is their target market, but I believe the crypto community will not support them in any kind.

I think this is a great thing. JP Morgan Chase is a bank and financial management is quite good, but the purpose of their participation in this market is different from the thinking of everyone.
Financial businesses like the crypto market because they can launder money and can manipulate their benchmark index. they have repeatedly manipulated the standard index from 2007 to 2010 to reduce tax rates but they have been discovered and must pay a fine of up to $ 65 million.
but now they have a new stop, it will be safer for this. ;D

This jpmorgan guy is really a clever guy. Called bitcoin a scam coin and then launch his own cryptocurrency?  
what a splendid move. Cryptocurrencies used to be fun when it were decentralized :(

It seems a little ridiculous. JP Morgan first fights cryptocurrencies and now creates its own. Remembering that JP Morgan had a significant share in triggering the recent economic crisis should be carefully watching what they are really planning.

Those big names will help  attracting more people to start gaining interest with cryptocurrency,  I also read that google add bitcoin symbol from their keypad, not sure if that claimed is legit but will add more exposures from different types of investors, with this moves coming from big businesses
impact will surely be felt around the market.

Let's hope for the best outcome with this current move from JP Morgan.

Oh please get your facts straight, its could be defined as cryptocurrencies because it's just a token to be used around their playground so to speak.

So don't call him clever or what, they're just taking advantage of this blockchain technology and wanted to exploit it for their bank used only. JP Morgan will still be hostile to bitcoin and will likely create a FUD if needed again.

Actually, I often see information when users of cryptocurrencies praise gambling on the basis of a block chain. Perhaps this technology brings some results for gambling, but I am skeptical about this kind of resolution. In addition, I would like to say that not one project of gambling games in which I participated did not show good results lately.

It is not surprise that JPM wants a piece of the blockchain and cryptocurrency market. Bank of America is holding a large number of blockchain related patents. Big players are slowly entering this space.

JP Morgan coin is not really a nice addition to cryptocurrency in my opinion, It is heavily centralized, censored and will only serve the needs of a few i.e J P Morgan and his clients. On the other hand, ETF is something that will eventually get approved, the problem is that no one can say when exactly,hopefully this year.

I don't think so because that was a private coin which means the only party can use the coin is the jpmorgan's client or its partner. The bitcoin symbol on the google keyboard didn't give a lot of impact to the bitcoin. We need a lot of good news from the institutional.