Bitcoin Forum

Are people like JP Morgan intentionally bad-mouthing Bitcoin? I thought he knew better, in 2020 this man was saying something good about the future of crypto and Bitcoin then today he said something else, he called Bitcoin a fraud, what is he doing?

Who doesn't know that the max supply of Bitcoin is 21 million and will stay this way forever? Maybe he thinks he can cause chaos using this stupid idea? Because it's stupid to me.

If Satoshi adds more bitcoin to it's supply which is impossible wouldn't that collapse all the decentralized / freedom ideas that Bitcoin was built for? I think now I lost respect for Morgan, he thinks like a child.

It's just a tactic to make their trading work. They want to influence the market sentiment, and it works to some extent. Don't listen to what they say, just look at what they're doing. There are many websites that documented many people saying that Bitcoin is dead/a scam, and then a few months later they say the opposite.

It is not only JP Morgan, just take a look at the news. From the recent FTX collapse, the bankruptcy of various crypto lenders, etc you will easily find who says what and whether they are being a hypocrite or not. They just want money from retails, and there are tons of ways they can do that, including spewing bullshit on a TV or newspaper every day.

Of course. Everyone has an agenda, and usually one that's best for themselves.

Satoshi has no power over Bitcoin. Nobody has. I mean: we all do :) Concensus is the ultimate democracy.

I don't believe those who says something bad about bitcoin don't forget two months ago they were all saying bitcoin is dead, it's going below 10k but now what the price of Bitcoin.
Bitcoin will continue to shame them and those who believe in bitcoin will always have the last laugh  ;D :o

Your view of something differs according to your age, income, country, profits, losses, and the damage that you may incur if you talk about a specific thing.
Bitcoin is profitable from the perspective of the individual who suffers from hyperinflation(https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela,) the systems that control his money, the banks that prevent you from withdrawing your money (the Lebanese crisis is a good example People in Lebanon are holding up banks to withdraw their own money amid the country's financial crisis (https://www.businessinsider.in/stock-market/news/people-in-lebanon-are-holding-up-banks-to-withdraw-their-own-money-amid-the-countrys-financial-crisis/articleshow/94215476.cms)), but people like JPMorgan have a view related to their investments that makes them support an opinion that they abstain or attack.

These investments and the returns from them change according to different circumstances. The way these conditions change is what changes the opinions of these people, but not because they are rich, because what they say is correct or useful.

People like him always put there mouth where there money is. Probably he now sold his holdings and probably want the price to get lower just like on his early introduction to crypto which he keeps bad mouthing and calling Bitcoin as scam when the price is rallying then suddenly change sides after the bear market.

People should not take his word seriously or even view his post because the reason why keeps doing this is due to the fact that he knows many people still look on his tweet and consider it for there financial decisions.

People speak based on their personal interest. When bitcoin's value is pumping talking about it going to the moon is going to attract more attention, and when the value is a bit stuck, preaching the fud gospel would attract more attention so they say that. It is all down to personal interest.

He is suggesting satoshi would show up when bitcoin hits its max supply in over a hundred years and mock us. At least he believes satoshi is super human to be alive at that time.

Learn to view people's comments separately from their personality and expect anything from anyone.

- Jay -

Satoshi can active his (assume Satoshi Nakamoto is male) wallets and get access to his bitcoins then dump it on the market. It can cause panic and somewhat selling pressure but it is all Satoshi Nakamoto can do if he is still alive.

You're right. Satoshi does not have any power to change Bitcoin protocol without enough support from Bitcoin communities. Segwit in 2017 and Taproot in 2020 is great examples that nobody, no single entity can change Bitcoin protocol.

You don't have to lose respect for anyone, he only expressed his opinion. I believe he has a very good reason to be sceptical as a banker, and as you mentioned, he was one of the supporters of the coin before he changed his mind. Do you know why he changed his mind? And as a banker, he has every reason to think differently about decentralized Bitcoin. That's why you should not lose respect for him.

As for the maximum supply, I know that it would not change, the moment it changes is the moment that people would begin to lose so much trust in the coin.

Pretty simple. It's either he's super ignorant, or the fact that he has an agenda to push.

While most people would think that the latter is definitely the answer, I personally think there's a good chance that it's the former. Decentralization and open-source software is something that wouldn't immediately sort of 'click' with people — what more when we're talking about non internet-native boomers.

Bitcoin total supply won't exceed 21 million BTC, because that's how bitcoin has been coded.
It's not that the total supply won't exceed 21 million BTC, because people will lose their trust if that happens.

If there's no proof that JP Morgan or Dimon privately buying Bitcoin, we should assume that this isn't an attempt of manipulating the price, but just a personal belief of Dimon or a position of company that fears being disrupted by Bitcoin. But either way I fail to see why should we care which motivation drives him to make such statement. Are our actions going to be different depending on which explanation is correct? I don't think so.

You know its a marketing cause they probably buying bitcon when they started to fud and see the price melt down and tell something good if its going up and selling it for profit. You know simple shill from a company could influence a lot of traders, retailers and even some institution. Its just a game to the rich and they knew how to play it.

He just want to get a stage, that's why he's keep making a sensational post in order to attract people. It will boost his social media account and he might get a lot money from endorsement etc. It's nothing surprised to see someone want to become an antagonist because it's make him become different with the most people in this world.

I still don't understand why you and other people are taking serious with his opinion, I simply don't care with anyone opinion about Bitcoin, just like how you click ignore below someone account in this forum.

Some people tend to blame something they can't or don't want to understand. J.P. Morgan clearly does not understand bitcoin completely, and his concerns about the issue of bitcoin emission are completely absurd, confirming his unwillingness to learn about the subject. Many people who deny bitcoin, and generally deny anything, try to be consistent; it takes time for their views to change, but this should not be a problem for bitcoin itself. JP Morgan may also be guided by manipulation tactics, which we sometimes see from public figures calling Bitcoin a scam. It can be assumed that JP Morgan may also be its buyer and is only trying to influence the price, assuming that his opinion is important to people. Should people listen to the opinions of amateurs?

It’s already time we start neglecting and ignoring those that say all sort of shits about bitcoin. Let them say since everyone is entitled to their opinions of how they feel about bitcoin. There saying about it would not affect the trademark and path of bitcoin success in the future and past years. Bitcoin is this, bitcoin is that, is just a normal saying, so that shouldn’t affect the way we feel and think about bitcoin generally as bitcoin enthusiast that we are.

You shouldn't be disappointed in him,he might not have a proper understanding of how bitcoin is that is why he is sounding like that. He might have been a victim of the crash of some exchanges last year directly or indirectly.

Maybe the dumps and pumps of bitcoin makes him sound like that,when he was praising bitcoin,I guess it was a bullish period and last year the bearish took over until early January this year and he is critizing the volatile nature of bitcoin due to maybe his lost. We shouldn't believe in anything people say about bitcoin in anywhere apart from the forum.

It's funny he doesn't know much about bitcoin, he is trying not to be dumb or stay silent about the Bitcoin question tailored to him. The blockchain which he acknowledged as useful, is not under Satoshi's control. So, calling Satoshi a con person that'll take billions of dollars out of bitcoin when it completes 21 million bitcoin is just a proof of misunderstanding. He is bullish on bitcoin yet he threatened back in 2017 that any JP Morgan trader caught trading bitcoin would be sacked. I don't see any reason to bother about his thoughts on bitcoin, considering that it's quite difficult for him to understand bitcoin. Like someone said he must have lost some funds in bitcoin, the story will change when he makes profits.

You don't have to be emotional about his personal opinion; not everyone agrees with the ideology behind bitcoin, so there will always be those who oppose it, believing they are saving the world. BTW, there are bitcoiners who do not agree with the Gold ideology and are doing exactly what JP Morgan is doing online. You may not understand why he believes bitcoin is a scam, and he may not understand why you believe Bitcoin is freedom, so you do not have to dislike someone because of his beliefs.

Furthermore, if total supply is suddenly increased, fear, uncertainty, and doubts will begin to flow in everyone's minds, and the price will suffer as a result.. How would you react if you woke up to find a top-up in your wallet? Wouldn't you panic and suspect that the system has a flaw? and begin to look for alternatives? Because anything that can be increased can also be decreased.

You can see that man bought bitcoin years ago and he needs to trade some more, so what better way to talk shitt about bitcoin than to buy back from his stupid followers, who blindly follow these so-called gurus.
Bitcoin is not JP Morgans printable money or something that can be created when you need it. Forget about Morgan and do what you do, believe what you think right.

You must be referring to Jamie Dimon, not JP Morgan. The JP Morgan that you're probably talking about is not a person. It's a bank, a company. And the person JP Morgan cannot badmouth Bitcoin anymore because he's already dead for more than a century now.

Jamie Dimon is the CEO of JP Morgan. He's always been openly criticizing Bitcoin. He calls Bitcoin many names. Bitcoin is accordingly worthless, doesn't have intrinsic value, and so on. But don't listen to him. Even his own company offers Bitcoin exposure to its clients. And even Dimon himself admitted that he couldn't stop or dictate what his clients want. And they want Bitcoin. 

Honestly, I don't believe what the government and the banks are saying, they are always declaring against bitcoin and trying to stop people from using bitcoin, but behind our backs, they are accumulating and holding them. The government, banks, and we all have the same goal of profit, so they will be willing to do anything as long as they make money.

I want to tell you: you can't hate something that can bring you financial prosperity and wealth. People who always think bitcoin is a scam are trying to manipulate us and keep us away from wealth, and they only want it for themselves. Don't believe what they say, watch what they are doing.
https://i.imgur.com/C0xLhNI.jpg
https://i.imgur.com/0bJG4cT.jpg

Don't forget people make profit from the FUD they spread. As far as investment is concerned people can decide to go either positive or negative to make money. If people sell because of the FUD he spread, He will buy more and just wait, If they buy when some other shills Bitcoin he will make profit and wait to spread FUD again to buy lower. I will always say forget what anyone is saying about Bitcoin just do your own research, buy and hodl.

You just have to ignore him. People like him will keep on bad mouth bitcoin despite that everyone knows that he's an actual investor.

He's there to make money out of people's emotion and want everyone of us to sell those bitcoins at a cheaper rate so that he'll take it and sell it eventually for a higher price.

You should dance on their games because they're big on the market and knows how to make people put into panic selling.