Bitcoin Forum

Jamie Dimon spoke in front of the senate and congress to talk about the banking industy and it appears bitcoin was mentioned. According to him, bitcoin should be closed down and it is only good for moneylaundering, tax evasion and hiding transactions. This is always their argument hehehehee.

In any case, do they feel threatened? It appears that they do not like competition on their moneylaundering, tax evasion and off the books transactions operations that they do for their rich clients hehehe.

It is okay for them if the rich do this, however, if given this type freedom to the poor, they will say this is evil.

https://i.ibb.co/1Tp1pCR/6-A171-FBA-35-F5-404-E-97-F7-1-A6-BA83-B36-DB.jpg

JPMorgan CEO Jamie Dimon says he would close down Bitcoin and crypto if he were the US Government. Speaking to senators today, the JPMorgan CEO said “I’ve always been deeply opposed to crypto, bitcoin, etc.” He points out an argument made by Sen. Elizabeth Warren that its true use is to aid criminals, including drug traffickers, and those in tax avoidance, due to its instant, near-anonymous transactions.

“If I were the government I’d close it down,” Dimon concludes about Bitcoin and crypto as a whole. Jamie Dimon has been vocal in his opposition to Bitcoin especially, saying in the past that Bitcoin was “a fraud.” The top cryptocurrency has been leading the charge of a surge for multiple crypto on the current market over the past month, with SEC approval of Bitcoin ETFs on the verge of becoming a reality.

Read in full https://watcher.guru/news/jamie-dimon-would-close-down-bitcoin-if-he-were-in-government

First, he is not a government staff nor a President of any country.
Second, JP Morgan is a big commercial bank but it is not the only bank globally. It does not have super powerful power to do anything that can harm and shut down Bitcoin.

Jamie Dimon and JP Morgan have ridiculous history against Bitcoin.

JPMorgan's Dimon says bitcoin 'is a fraud' (https://www.reuters.com/article/idUSKCN1BN2PM/)
JPMorgan to give all wealth clients access to crypto funds (https://www.reuters.com/business/finance/jpmorgan-give-all-wealth-clients-access-crypto-funds-business-insider-2021-07-22/).

From 2017 to 2021, JP Morgan changed a lot and what changes will they do in next years?

This one is more interesting. Dimon’s many bitcoin moments of regret, in one chart (https://www.marketwatch.com/story/all-the-times-dimon-may-regret-bashing-bitcoin-in-one-chart-2018-01-09).

"The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance."

I mean — if he thinks that, obviously he wouldn't want bitcoin to exist; because if you're in a certain business, why would you want a competitor that could potentially destroy your business?

"Since 2000, regulators fined banks 7,400+ times totaling to fines of $380+ Billion, about 1/3rd of the total crypto market capitalization today. Either banking is criminal by definition or the rules are broken. The crypto space looks like a nunnery by contrast." — Gabor Gurbacs (https://twitter.com/gaborgurbacs/status/1726974307405033840)

Third, and most importantly, the government cannot shut down Bitcoin. Neither can JPMorgan. Neither can all of these extremely powerful banks all over the world. Neither can the combined powers of both the governments and the banks. Having said this, Jamie Dimon should either shut up because they're all helpless and powerless in the face of Bitcoin or hop on the bandwagon, be cool, make money, be more powerful, and be free.

That's such an old news already, I guess his stance never changed; a stance just as old as the system that he's benefiting from and they really don't like it when something that's challenging their financial system has been flourishing a lot of people are loving it and are talking about it and so they go for the cheap shots that are nothing more than bullshit because there's a public ledger that can just look up if they feel like it's a suspicious transaction, bitcoin's pseudonymous anyway so what's the point of using bitcoin for the stuff that this mofo mentioned? There's mixers and privacy coins like Monero out there so it's weird that they're attacking bitcoin when there are other ways those criminals can funnel their money and fiat is still the favorite of these criminals to use so what are they doing about that? There's still a lot of money laundering operations out there and they can't do a damn about it and instead they talk about bitcoin and why it's an evil thing that they have to get rid of.

well it makes so much sense that he, of all people, would hate bitcoin

bitcoin goes against what exactly a bank is of course they bankers would hate bitcoin, they are losing clients and in result they are losing profit


yes but a country’s government can ban bitcoin in their country

And what does that specifically mean? That the citizens of that country can't anymore buy, sell, use Bitcoin? How powerful can a government ban on Bitcoin truly is? Does that mean no citizen can run the Bitcoin network anymore? Or that citizens can no longer keep their savings or store their wealth in Bitcoin? Does that even mean Bitcoin-related businesses are completely eradicated? The answer is no. Again, and literally, no government, however powerful it may be, can shut down Bitcoin.

His stance on bitcoin was never positive. Just like Warren Buffet. I don’t think he will ever come to terms and accept it.

However besides banning businesses and customers of his bank from acquiring crypto, there isn’t more harm he can do. He doesn’t have enough influence of the SEC to get it from being approved.

Whenever he mentions something about bitcoin, just ignore it.

It seems he hasn't changed his stance regarding Bitcoin; it appears that he really perceives Bitcoin as a significant threat to the banking industry. Bitcoin exists as an alternative currency, not to replace fiat, why would he want to keep promoting a fiat that is susceptible to hyperinflation and subject to government control through potentially corrupt practices?

With Bitcoin, even though it's decentralized, it can be regulated, and the government could still benefit from it. Perhaps he was only highlighting the potential drawbacks and expressing a biased perspective.

I don't think he is serious and have no idea on what he is about to do. I think it is just a media hullabaloo to woo in his supporters especially those who he knows have sentimental bias over the abdoption of Bitcoin over there.

The funny part of the whole news was like the negative impression the politician attached to Bitcoin that it is a safe haven for money laundering, theft and other unspeakable things he described with Bitcoin. I don't know why politicians find it very comfortable to denigrate some innovations they don't like and paint it black for the public domain.

Truth is, with or without Bitcoin his fellow politicians in leadership positions are best known for their behaviour which is corrupt practices, syphoning of funds and the misappropriation of funds meant to carry out the allocated project. Bitcoin has not been a case of syphoning funds like he said, however People can decide to store there syphoned funds in the bank or any of the crypto currency and that is solely their decision to take.

It has not occurred to him to say that if he were in charge he would have the Bitcoin CEO arrested as well? He could add this one too.


And they insist on continuing to make fools of themselves, we should not pay too much attention to this nonsense from the forum, rather than for entertainment purposes.


I think you are right on this.

This happened after bitcoin rose and will become the currency of the future. It's simple if you look at the direction of Jamie Dimon's conversation. The government cannot possibly allow the currency to exist without regulated supervision and the government wants to control the amount of their money.

Hey adaseb, "Just like Warren Buffet" can have more than one meaning. The way you said it I agree 100%. There are some differences, in the case of old-school, stone-age Warren Buffet, he simply said "I do not invest in anything I do not understand". Jamie Dimon, on the other hand is more like an angry idiot, and it is good he doesn't have too much power.

Unfortunately, not even the government can close down Bitcoin. Obviously, he does not know any better with such a simple case.

I recently found out from the graph on this thread that the Bitcoin obituaries for a person exist, specifically for this case. I thought it just exists in the general case as some of us may already hear with https://99bitcoins.com/bitcoin-obituaries/. Generally, a person deemed to have high influence always has media attention for such controversies. This case is an example, any media or influential person will likely be against the tool that empowers individuals. So I expect many such high-profile people will do the same, and the media will try to gather that attention for their own motives.

We have a saying in Farsi that goes "کافر همه را به کیش خود پندارد" which I guess is best translated to "every madman thinks all other men mad". It's the case with Dimon! The bank he works for, JPMorgan, has been caught in all kinds of criminal activities from spoofing and security and mortgage abuses where their trader was actually imprisoned to bigger crimes including money laundering and arms dealing. Not to mention their fines due to criminal activities exceeded $2 billion last I checked!

So it is natural that he thinks that just because they are all crooks and criminals in JPMorgan, everyone else must be too :D

With that aside, why is this idiot being discussed now that bitcoin price is rising up again?!

Thanks pooya87 this is good. , I am keeping this saying in my notes to be used later. I like it

You know what's funny, it is always the hypocrites and guilty parties that is always first to point accusing fingers. They have too many criminal offenses which they knowingly facilitated using the US dollars. They are quick to turn a blind eye and become deaf mute when crime is done using the dollar but will be the first to throw bitcoin under the bus.


No one can tell me otherwise. These hypocrites have a hidden agenda against bitcoin.

This idiot does not know how it works! LOL. The government would have closed/shut down Bitcoin a while back if they knew how. He just proved himself to be another stupid person who doesn't know anything about the system by giving the statement. The more they talk about Bitcoin, the more I learn how stupid they are. This stupid person should know he won't be able to shut down 17K nodes in the next 17K days. LOL

I simply don't run a full node because the network already has enough nodes online. If Bitcoin community notice that nodes are shutting down, surely more nodes will come online to support the network.

LOL Good luck with that Jamie! ;D ;D

See, this is why it's good that Bitcoin is decentralized. This is all cloud talk and he can't even put a dent in the network. In fact, if he wants to close Bitcoin down, he should start with stopping JPMorgan Chase from engaging in any crypto activity. But we all know he won't do that, because there is huge profit to be made there.

He is not the one. Many Street Dogs are barking on Bitcoin. But no one of them even touch the Bitcoin. Is it?

Or you can say that these are the wolves and Bitcoin is the moon they howl when they see the shining of the moon(Bitcoin). But they can only how they can't do any thing.
And now Bitcoin is shining and will shine more and Dogs will come day after day and bark. But Bitcoin will shine forever.

when people can be their own portfolio manager of an asset. not needing JP to take his management fee and spreads.. ofcourse he is not going to like bitcoin/crypto

people are becoming wise to the thought that they used to think but no longer needed to put money into JP and JP then gives them just 2%-7% on a market that performed a 30% swing in a year

now people are self managing assets and getting 25%+ per year average. he's mad that not as many people are buying into his service anymore

..
his game plan now is to franchise out his "chase" bank company into more countries hoping to win customers favour and have a new userbase to offer his services too.... poor guy

Every Dick and Harry will come out and claim to be innocent because they hate the financial freedom that bitcoin has given to us, when they are even more corrupt and they are criminals themselves. Check everyone that is against bitcoin, there hands are not clean, and that is why they are afraid of bitcoin potential because it is a threat to them as they can't control it and they are clueless of how many people are using or own bitcoin. They are scared that someday, they might lose it all and bitcoiners might end up winning. Jamie sees bitcoin as a big threat to him and bitcoin has pit him to shame in the previous years that he thought bitcoin will not survive. Now that he has seen that bitcoin fundation is solid, he is showing his anger and hatred for bitcoin by coming to the public saying he will have shut down bitcoin, which is impossible when he is nobody. Even the government have tried their best to do so but it was all on vain. Long live bitcoin.

J P Morgan made what US is now and they can see it is slowly going out of thier hands. That is why they are coming out with absurd statements every now and then. They know the cannot control Bitcoin which why they want to close it. But, how will they close it as Bitcoin doesn't have any physical presence. It is not a store but located in the US but collection of node across the globe.

Sometimes when you don't know admit that you don't know and save your self from the public shame as a public figure. I have always seen big and powerful men come up with statements that proves they don't have any understanding about Bitcoin.

JP Morgan and Dimon are pained that people are no longer as ignorant and naive as they used to be. I am not surprised that they rushed to create their own token because they want to keep their client's. Like you said people are already wise and even when bitcoin's price finally becomes stable, it will still perform better that whatever JP will propose to give their clients.

He is losing now and he will lose again in the future...his analysts should have told him this which is the reason for his utterances and hated against bitcoin.

He does not have that power and likely will not have it in future. He can become a President of a nation but even with that power, what will he do?

Banning Bitcoin?
Killing the Bitcoin network?

He will never be able to do this as a single person or with power of a single nation because Bitcoin network is decentralized globally.

Jamie and JP Morgan only focus on money, ROI they can have for their bank. What people especially Bitcoin communities think about Jamie and JP Morgan, is not their main concern.

Around the corner of 2023, we have a funny comedy from Jamie. Enjoy his comedy but he will come back with others in future.

Since 2018, he has been talking like this with Bitcoin and isn't it clear that he's got into something? He's buying for sure at the dips and people don't realize that. Didn't he launched his JPMorgan coin or something like that? Anyway, I've made a thread on 2018 about him calling all of his bias against Bitcoin through this thread:  (https://bitcointalk.org/index.php?topic=3304975.0)

I'll quote it all for you.

---

By the way, I've just seen this news 3 hours ago.

Crypto is for criminals? JPMorgan has been fined $39B and has its own token (https://cointelegraph.com/news/jp-morgan-ceo-jamie-dimon-hypocrite-crypto-criminals-shut-down)

This proves that their own business with money laundering is highly threatened with the existence of bitcoin. So they need to shut down bitcoin and vanish from its existence. But the question is can they shut down bitcoin? Of course it will never be possible. If ever he'll be in the government, all he can do is to ban bitcoin and restrict the people from having an access but they can never put bitcoin out from its existence.

However, that was just a plan. We don't know yet if he's really serious about it or he is just also riding what the government wants.

Jamie Dimon's position is expected. His dismissing of Bitcoin as a tool for crime ignores its wider impact. Isn't it ironic that traditional banks have enabled financial crimes for decades? Yet, Bitcoin, a decentralized financial system that empowers the public, is called "evil" and "fraudulent".

Dimon's statements show fear of change and resistance. He's holding onto antiquated models for personal gain. Control (not crime) is the issue. He opposes Bitcoin because it threatens the banking system. In addition to being uninformed, his statements show fucking bias. Bitcoin's transparency and decentralization suggest a more equal financial system, which Dimon seems unwilling to accept.

I did a thread on him back in 2021 too > Jamie Dimon & Tulip Bulbs (https://bitcointalk.org/index.php?topic=5310409.msg56126516#msg56126516)

...anyway this is just more hot air from Dimon and its clear he says one thing and does another.

The worlds largest asset management company ^Blackrock and their clients obviously
dont see Bitcoin the way he says he sees it.

Surely he isnt that naive in thinking Bitcoin can just be "shut down" or is he just pandering
to his audience who expect this negativity and skepticism.

He knows what this community knows but his own community(clients) don't know what he knows. Well, this is going to be a nonstop edition of his own bashing of Bitcoin because if there's one thing that's not volatile and consistent, that's him telling Bitcoin this and that.

They're all silent for that because they know that there's more to the banking/financial service that they're offering. They know a lot of things that their clients don't know that revolves around with their services. Dimon always get the attention of the mass this way and who knows if there will be a bank that's going to be taken down by the SEC or any responsible agency in the US just as how FTX was taken down. They can't think that they're too big to fail.

I have a special kind of disgust and despise for JPMorgan, and I don't think its main representatives have any moral ground to argue that Bitcoin is used by criminals and should be restricted on whatever. Just in 2020, JPMorgan paid almost a billion dollars  (https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-920-million-connection-schemes-defraud-precious-metals-and-us)to resolve criminal charges related to defraud.
In 2019, a ship owned by JPMorgan was seized with 20 tons of cocaine (https://www.forbes.com/sites/giacomotognini/2019/07/15/italian-billionaire-couples-shipping-line-msc-involved-in-third-drug-bust-in-2019/?sh=1250f0744ea720) on board. There are other stories with this company that cast doubt on how it operates, but these are just those I recalled immediately. So maybe it's JPMorgan that needs shutting down, considering their clear and very criminal record, rather than Bitcoin that's not even a company and cannot be shut down or blamed for much.

Simply a fud to whine down the current positive market action. As if their company didnt engage on any crypto at all to say this. They really dont want to have a competition on their money making scheme. If bitcoin overtake their company then he should accept that and even he wanted to shut down bitcoin its a system cant be control anymore. Thats how Satoshi designed that so no one can manipulate the system for themselves.

Jamie Dimon, the same person who said Bitcoin could print more coins because "Did you see the algorithms"?

¯\_(ツ)_/¯

If the government decided to shut the network down, they're already too late. They would have to shut the internet down to stop Bitcoin. Plus the cat is out of the bag, because if they succesfully stopped Bitcoin, the idea of a Bitcoin will continue to exist and another one will definitely be built, after another.

Satoshi opened a Pandora's Box, and it will never be closed again.

I believe not threatened but rather salty because Bitcoin is printing again growth which they are left behind. They are salty because Bitcoin keeps growing to the level which bank is shown not needed anymore when it comes to transacting huge amount.

I watch the interview and all of his accusations are happening even on fiat too. He is just finding a way to brand negative Bitcoin because of the current hype.

Kind of expected from a wall street banker.
They can't control it so they will try to sink it as much as possible. The whole idea of decentralization is a nightmare to their monopoly.

He couldn't shut down his own company if he wanted to -- that's as the most powerful man there. Not like we need more proof that most powerful people (financially) and regulators still don't understand a network that isn't an opaque contraption of control. I'll slot this comment (even if taken out of context) right next to "sanctioning" Bitcoin addresses.

A rich banker who doesn't want to become obsolete. Guess that's why he doesn't want to close banks, which launder more money than anything else.

This is not new to the crypto or first of its kind, that we saw people made similar statements or the first time he had talked some negative things about Bitcoin.The bull market is around the conner and we should expect or prepare to see statements like this in the coming days to actully fool the fools, Follow the money and don't follow what they say. Even for the government itself, it hasn't been easy for the government to ban Bitcoin because it's truly decentralized. However, he is entitled to his opinion or view about Bitcoin but in the end the statement won't hold water.

" JPMorgan Chase has been fined nearly $39 billion for all kinds of claims of misconduct, including anti-competitive practices, securities abuses, cheating worker pay, and other violations." - Source : https://goodjobsfirst.org/jpmorgan-chase-has-paid-38995000000-in-fines-for-banking-securities-and-additional-violations-as-new-sec-enforcement-action-kicks-in/

" In 2020, JPMorgan Chase was fined $920 million for trading misconduct and deceptive behavior. U.S. regulator The Commodity Futures Trading Commission said that the bank had engaged in deceptive trades over the last 8 years.. " : Source https://www.enzuzo.com/blog/biggest-aml-fines

So, if you point fingers at someone..... make sure 4 fingers are not pointing back at you. Do I need to say anything else?

I don't think even if someone is in the government, they have the power to stop Bitcoin. Those who have ulterior motives would still use it anonymously even if it were banned. It does not make sense to ban Bitcoin as it benefits many people. I am certain that many government officials use Bitcoin for the same purposes that they claim to want to ban it for. It is clear that many of them benefit from its use.

Hmm, well I've noticed it with many of the personalities, TBH we can consider such people as not open to talk are are just on the oneway road and in ego the fire of ego hehe they wont even take a U-turn. In end i just ignore them as who cares haha.

Coming some a company that have broken the law too many times in the past and this company is one of the most law breaking company that I know, bravo, they nailed that very effectively.

Bitcoin is now looking like it will eradicate the banking sector but I don't see how banks wont still be needed anyway, they should just stop the hate already.

I am more bullish than ever for this coming from JP Morgan, maybe he is confused by the crazy queen Elizabeth who knows? You guys should be expecting more as Bitcoin value grows higher, I guess people like them don't expect the Bitcoin to make it this far, and their business is also threaten by the existence of Bitcoin, its so obvious.

Let's not forget Jamie's daughter. She bought bitcoin a few years ago. He should've thought of that before calling her a criminal ;)

https://i.imgflip.com/1vvptz.jpg

Since we're talking about criminals... I remember Jamie saying he'd fire anyone who trades bitcoin and then a year or two later his company was caught trading while Jamie used his influence to tweet negative things about bitcoin and make money shorting the price when market reacted.

Stupid bankster who thinks he owns everything.

I see he's not getting any smarter with time.

Delusional idiocy around "closing down Bitcoin" aside, did he somehow forget that his company offers "an in-house passively managed bitcoin fund"?  What a fucking hypocrite!   :D

https://finance.yahoo.com/news/jpmorgan-let-clients-invest-bitcoin-110851292.html
https://www.cnbc.com/2021/08/05/bitcoin-jpmorgan-led-by-jamie-dimon-quietly-unveils-access-to-a-half-dozen-crypto-funds.html
https://www.nasdaq.com/articles/jpmorgan-jpm-offers-in-house-bitcoin-fund-to-wealthy-clients-2021-08-05

This shows how his comments and opinions don't really affects the market even if he/his company is well known in the finance industry. Those who believe him would probably has a regret in not buying some bitcoin.

With this chart, the market or his followers will just invalidate his opinion about bitcoin. His comments don't make sense at all and didn't even touched the reality.

With all the negativity that Jamie Dimon showed on bitcoin over the years, I wonder if he is doing this with the intent of plummeting the price to accumulate and buy some. We don't know, but he might be a bitcoin whale or some sort or just showing that he is anti-bitcoin just to evade the possible taxes he might face with the government. Just my speculative thoughts.

This is expected for someone who don't really see the true potentials of bitcoin and for someone who don't understand why bitcoin exists. And to be honest, with all his actions, it's clear as a crystal ball that he is triggered with the existence of bitcoin because it can gradually stop money laundering with fiat. Which I think Dimon probably knows about it that's why he's protecting fiat over bitcoin.

But let's see if they can actually shut down bitcoin if he's now already sitting in the government. Sometimes, decisions change when you are actually in the position, so let's wait and see.

Since bitcoins are decentralized assets, neither organizations nor the government can ban them. JP Morgan and Jamie Dimon discussed eliminating cryptocurrencies, but they neglected to discuss the underlying technology. It's fascinating to hear that Jamie Dimon and JP Morgan regret not investing in cryptocurrencies sooner after realizing the promise of cryptocurrencies. It is in the same exact manner that some others will regret their current actions against bitcoins later when they could have started earlier.

Bankers and politicians have never distinguished themselves for their honesty, and if anything it is a characteristic that will hold them back on their attempt to gain more money, influence and power, so it should not be that surprising that he is badmouthing bitcoin at every opportunity that he has while at the same time his company is offering bitcoin products to their clients, still it is not as if he has the power to close bitcoin down and if anything I would like to see him try.

Now, that people know his stance on bitcoin, for sure bitcoin enthusiasts will never support him so he won't be seen gaining a position in the government. His stance on bitcoin shows a lot of hatred, that's why I came to think what is there in fiat that he needs to protect it just like himself. If he's running a monkey business with fiat, then it's obvious why he's behavior towards bitcoin is like that.

But this is just his part of the plan. And we still don't see him in the government yet, so this still remains an illusion for him.

I love this clown. Every time he speaks, he makes a mockery of himself that ages like a nice red wine.

Someone needs to update this graph up to date with his latest comment:


In all seriousness. JP Morgan have their ETF application as well as the other institutions. While people are excited for their decision, it is concerning that these parties are accumulating Bitcoin. If they share similar opinions, what will they try/what are they capable of doing to Bitcoin's market later on, maybe via their ETFs collaboratively?

This may be true for Jamie Dimon, but I am sure he has countless of customers storing their hundreds of millions of dollars made with Bitcoin at JP Morgan Chase :P

Jamie Dimon isn't the government and he doesn't seem to know all that much about Bitcoin, but here is someone who says something that I am sure the government will listen to carefully:

"Bitcoin is of ‘national strategic importance’ says US Space Force officer (https://cointelegraph.com/news/bitcoin-national-strategic-importance-space-force-major-jason-lowery)"

Opinions can differ, but this US Space Force officer understood that Bitcoin is much more than just digital money being shuffled around and speculated on. The network is groundbreaking with the entire security and incentive (infra-)structure it features.

Honestly, it is somehow shocking to still see a genius mind like Jamie Dimon (I assume he is pretty intelligent) to still talk that way about Bitcoin. So many banks have taken a U-turn now. But he refuses to do it either for ideological reasons, or for being the typical Homo economicus trying to protect their own interest, or for being about to become senile. Someone like him should be able to reconsider a point of view, but he doesn't. He probably paid for dinner with Warren Buffett too often. 

By now, he should already know that no one can totally shutdown bitcoin operations because of its decentralized nature.
So yes, it will just be an illusion for him. And the possibility of changing his stance in the future will always be there.
Because if this technology goes to mainstream, it means, he will encounter people or businesses that are into this market, and he can't totally avoid them.

Dude's a complete ass when it comes to bitcoin and crypto in general. He's never really changed his stance when it comes to bitcoin, and thinks that it's the only asset that works 'against' the government through money laundering, scams, etc. It's obvious that he'll prefer fiat over bitcoin as this guy is a banker, and a CEO of a large bank at that. Of course, if people were to switch into crypto, he'll be losing his business and he doesn't want that to happen obviously.

People like Jamie Demon are the exact reason why a tool like bitcoin was created in the first place. How any banker can have the guts to mention things like money laundering and tax evasion is a mystery to me. At least keep doing your dirty stuff while you hide and keep your mouth shut but no, he's actually bothered that a few people may do the things they usually do through banks using another way.

Anyway "close down bitcoin" doesn't really mean anything.

He doesn't like bitcoin, however, he likes the fees that JPMorgan gets from their clients for investing in bitcoin hehehe. This is certainly why we shouldn't trust any words that come out from his mouth about bitcoin or other cryptocoins. People like Jaime Dimon are only there to do what is profitable for them. They want more wealth for themselves and less for you.

Obviously, they want to monopolize the profit and they don't want any competitors as we can see, they do everything they can to eradicate and make Bitcoin as abs as they can to the public eyes but those who know the truth won't really pay attention to these kinds of guys because clearly, they can see the good result in the crypto market nowadays where bitcoins price are increasing once again. Once the people see the price will create another legendary historical ATH, they won't gonna listen to these bank owners but instead, they will just simply buy their own bitcoins and join the revolutionary financial trend.

Jamie Dimon is just another hater. He is a banker, so it's normal to see him spreading negative comments of Bitcoin. Warren Buffet is another hater that belongs to the old generation. These "dinosaurs" will eventually become history, as the new generation embraces digital payments for their own benefit.

Like or not, crypto is the future of money. Bankers, the elite, and governments are afraid of Bitcoin because it provides people the ability to become their own bank (true financial freedom, and sovereignity). Since it's decentralized, no one can control/manipulate it to his/her own will. That's the main reason why Bitcoin has its enemies.

Ultimately, BTC will continue to grow until it beats Fiat currencies for good. Some countries went as far as adopting it as legal tender, so either you join the revolution or get left behind in the dust. What will be closing down is not Bitcoin, but the US Dollar once inflation spirals out of control. A devalued USD would be completely worthless. Bad for Jamie, but good for Bitcoin overall. Just my opinion :)

And not only that, he's probably into money laundering business that's why his opposition for bitcoin is extreme. He would not be acting like that if he's not protecting something or someone. But anyways, his words are obviously the same with those people who know nothing about bitcoin so I'm not actually surprised with that.

Bitcoin has also gained a lot of its users and enthusiasts, and these people would not want to see Dimon in the government either. Dimon can say everything he wants, but the fact remains that bitcoin has nothing to fear with it. Bitcoin is made so we can gain freedom from the shadows of the government, and its not made for criminal use.

Its easier said than done. Making comments on shutting down Bitcoin is only limited to the circle of influence one controls, its not a global possibility. How do you tell the miners in various parts of the world to shut down their miners simply because you do not want it, when the whole world is in a warm embrace with the tech.

Comments like thes are reasons why most people loose elections and risk not having a career, it means you have no interest of the masses at heart and if allowed you will further impoverish the citizens.

Money laundering and Tax evasion is never be a threat to them because even without Bitcoin this problem still occur. However, since we have CEX which we provide our identity before we can be able to withdraw, the act of crime will be lessen. So I think it never be a big concern to the government. Government is eyeing Bitcoin since the beginning and there's nothing new that makes them surprise about what Dimon said.

In my opinion, the biggest threat of Bitcoin to the government is that they can't control it. Bitcoin will continue to grow and develop, no one in the government can stop it.

Well obviously, he'll have no choice but to accept the consequences if bitcoin will become mainstream in the future. Banks might still be in operation but it's not all about fiat anymore, but bitcoin too being integrated in the banks. If he can't accept that, then he's free to leave his position and continue attacking bitcoin as long as he wanted to.

Jamie Dimon is no longer different from those people who talk a lot about bitcoin and continue throwing negativity on it. Well, that's also their stance and we can't take control of them but let's see when the whole world turns into crypto enthusiasts, will they'll be left behind and chose to stand against bitcoin for life.

There are many people who do not and will not like Bitcoin. Bitcoin will never serve these people's purposes. They will always be against Bitcoin because they cannot direct the money as they wish or because Bitcoin will disrupt the order they have established so far. In such a case, Bitcoin will never be the loser.

The fact that some people oppose Bitcoin is actually good news. Bitcoin does not only serve certain people. They will never like Bitcoin just because it doesn't serve them. As you said, when Bitcoin becomes mainstream, those who speak out against Bitcoin will regret it.

Throwing stones Jamie?

Is JP Morgan the ethical barometer?

https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison

In September 2020, JPMorgan admitted to committing wire fraud in connection with: (1) unlawful trading in the markets for precious metals futures contracts; and (2) unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds. JPMorgan entered into a three-year deferred prosecution agreement through which it paid more than $920 million in a criminal monetary penalty, criminal disgorgement, and victim compensation, with parallel resolutions by the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission announced on the same day.

Two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) were sentenced today for engaging in fraud, attempted price manipulation, and spoofing as part of a market manipulation scheme that spanned over eight years, involved tens of thousands of unlawful trading sequences, and resulted in over $10 million in losses to market participants.

This doesn't really sound any less criminal than Binance and their activities, but the penalty differs by a lot. The banks are still powerful and a penalty of $920 million doesn't hurt them either. They are making a net profit of around $15 billion per year and yet they are given a three-year deferred prosecution agreement? Why is that even the case? I am not sure why they would need a deferral why they are granted it at all? I guess they have enough liquidity to pay such a penalty with their pocket cash. But it is what it is, double-standards all the time.

@Dump3er. Where do you think CZ and the other hustlers in the cryptospace learned the bankers' tricks from? The banking industry controls much of the infrastructure for moving money around the world and they have laundered trillions of dollars for special clients. Would it be a shock on anyone in the forum that those special clients are billionaires and politicians who are also known as our rules? It would be headshaking if someone here is still not aware of the reality that our rulers are using the system against us.

Well, there are already people like him in government who have been wishing from day one to see Bitcoin fail, but it never worked out for them. Even if he was one of them, he still wouldn't be able to do anything, except ranting about how much he hates Bitcoin, and that wouldn't change anything. So right now, he's the least of my worries, if there's any.

moneylaundering, tax evasion and hiding transactions are alibis often used as reasons for his dislike of Bitcoin. Behind all the alibis used there is a huge fear that it can destroy the system that has long been built by the government to ensnare the people with services offered by banks that always benefit one party. It is clear that the presence of Bitcoin poses a major threat to these government institutions.

Now he still speculates that using the words "if I am elected" he will fight Bitcoin and other crypto on the grounds that crypto assets have helped criminals. I feel his expectations are too high, he wants to use the power of power to fight Bitcoin, previously many have shown the same attitude towards Bitcoin but none of them have succeeded in killing Bitcoin.
If I could meet him in person, I would say "hey Jamie Dimon keep dreaming until you forget how to get out of your dream".

That's what I love about Bitcoin. They can threaten it as much as they want, but they can't do shit. Even if they'll ban in there, people who need it will find a way to buy it, and everyone else simply won't care.

The only power he will have is to close the door to his bedroom, closing down Bitcoin might choke the old man, it's too big of a bite, he can't chew that.

I watched the video of this on X a few days ago and I just scrolled passes it. If the CEO of a global bank isn't against Bitcoin then who else will? They feel threatened by Bitcoin and they're powerless to stop it so this is all they can do.
This is one very big advantage of Bitcoin being decentralized. If Bitcoin wasn't centralized, by now powerful people and corporations like his and the people and corporations he works in collaboration with the government would have been fighting to bring the people or company that owns Bitcoin down, and they would have done so eventually because I don't know how powerful a person has to be to fight against such powers and win.

I think it was yesterday or so that I saw a post with a link to an article on this forum where the owner of Cardano says the crypto industry would be good without Bitcoin. This is something you expect people like this to say and frankly speaking, I don't know if I'd say something different if I was in his shoes.
There's no way he'll come out and say the coin he's preaching to investors as the future is dependent on Bitcoin.

So when we see people with companies that are competitions in whatever way (because it'll be a big disrespect to Bitcoin if I called Cardano its competition to Bitcoin) to Bitcoin saying the most predictable things we expect them to say about Bitcoin it shouldn't be a surprise to us.

The guy doesn't know what he's talking about. It takes more than one person's efforts to shut down Bitcoin for good. I think what Jamie Dimon meant was ban Bitcoin from mainstream use. US citizens won't be able to buy/sell Bitcoin if it's declared "illegal" in the country. At least through centralized exchanges. A workaround for this would be to either buy/sell BTC through a P2P exchange or a DEX. If Bitcoin wasn't decentralized/censorship-resistant, this wouldn't be possible.

I'd dismiss Jamie Dimon's comments as nothing more than pure FUD. With JP Morgan using Blockchain tech behind the scenes, you'll realize this is nothing more than drama to plunge Bitcoin's price. Banks and governments know crypto is the future of money. The question is: Will you believe the FUD or buy and "hodl" no matter what? Only those who're smart, will obtain huge benefits in the long run. Who knows if BTC ends up being the reserve currency of the world? :D

Everyone is entitled to their own opinion, at least we also have public figures who if they were the government wouldn’t shut Bitcoin down, eg: Elon Musk  ;D. Well, what JP MORGAN CEO is saying is something we’re tired of hearing. We’ve heard how kidnappers prefer Bitcoin as ransom, we’ve heard about how Bitcoin is what Drug traffickers uses to mask their crimes, we’ve heard a lot and what I can say is that these things were already there before Bitcoin came. It’s choice if someone chooses to use Bitcoin for bad, but can you help it? No. After all, someone can use objects as offensives too.

With every negative thing that Jamie Dimon has said about Bitcoin all this time I believe any BTC enthusiasts who still see his statement as a problem or threat to BTC advancement as the future payment system don't know the concept of BTC so well because the use of BTC is inevitable if not BlackRock, and others won't have had an interest in it.

There is nothing new to it, Government or banks has always seen Bitcoin as a threat to them, that is why they want to put it down.
But look at it, Bitcoin is still here and it is even stronger and well known today compare to how it was before.
I guess it just goes to prove that good or bad publicity is still publicity, and those who bad mouthed Bitcoin or crypto before, just helped spread out the word about it.

The rulers, who are the real people in power, have placed politicians like Elizabeth Warren in office to be their puppets. They use these puppets to maintain control and power over you and to forever to make you their slaves. You can argue that you are not a slave, however, this is reality. They own everything and the want more for themselves and less for you.

However, the cryptospace is causing them to lose control over money, the issuance and the distribution of money, also losing control on what is defined as money. This will be a blood feud. Do not be shocked if we find developers, founders and famous personalities in the cryptospace suddenly die because of suicide.

John McAfee did not kill himself.

https://i.ibb.co/R4LL5gq/1-A38147-A-1-E0-C-4-EC3-B05-B-C7927-FEB40-F7.jpg

United States Senator Elizabeth Warren (D-Mass.) announced an expanded coalition of Senate support for the bipartisan Digital Asset Anti-Money Laundering Act Monday. By expanding the coalition of support from the banking committee, Senator Elizabeth Warren is pushing the gas pedal for more regulation of digital assets. Furthermore, the bill is mitigating the financial risks that come with the crypto ecosystem.

In focus, the Digital Asset Anti-Money Laundering Act closes loopholes and combats illicit financial activities using crypto. These include money laundering, ransomware attacks, sanctions evasion, drug trafficking, and elder fraud. Senators Raphael Warnock (D-Ga.), Laphonza Butler (D-Calif.), Chris Van Hollen (D-Md.), the entire Senate Banking, Housing, and Urban Affairs Committee, and Senators John Hickenlooper (D-Colo.) and Ben Ray Luján (D-N.M.) joined the bill as cosponsors.

Source https://watcher.guru/news/elizabeth-warren-expands-coalition-for-crypto-crackdown-bill

He's the same person who said that Bitcoin is a fraud 6 years ago. Now the price of that "fraud" thing that he said a few years back is much, much higher now.
Another one is that, he's the owner of one of the largest banks, so I guess there's no surprise that he will be saying things like this in the public.

Luckily, he isn't a part of the government, and even he does, I don't think that he can do it. Bank owner have always look not only Bitcoin but crypto in general as a negative thing for them as it affects their business. Let them speak because at the end of the day, what they can do only is to just speak, but they can't do anything about it including stopping or closing Bitcoin.

If one day he will be in the government, I will be sharing 2 words for him if he will still try to close Bitcoin down. Good Luck.  :D

He's perfect for government; he has many years of experience being a big criminal who says stupid things. They can't shut down Bitcoin. If they could, they would. But they can't.

They can only call it crypto and whine over CNBC, so that's what they do.

He's only saying that because he's afraid of Bitcoin. We all know the government can't stop Bitcoin. What it can only do is introduce restrictions/limitations to prevent as much people as possible from getting access to it (particularly through CEXs). But that won't stop anyone from using it secretly. Bitcoin is decentralized, so it's virtually impossible to enforce regulatory action.

With countries gradually adopting BTC as legal tender, it should only be a matter of time before Fiat currencies (like the USD and EUR) become a thing of the past. I really hope Bitcoin beats down those greedy banks for good. Only then, we can have a truly-decentralized economy. The more people adopt BTC, the more Fiat will lose ground in the mainstream world. What will Jamie say once BTC becomes the reserve currency of the world?  ::)

Those who become very rich through the fiat system and are involved with centralised organisations won't like Bitcoin. A few people will always oppose Bitcoin, but who cares? Also, we don't know if they want to accumulate Bitcoin at a lower price since there is huge potential for Bitcoin. They always blame Bitcoin for money laundering, but the largest part of money laundering occurs in fiat currency. Why aren't they preventing multibillion-dollar money laundering through fiat? Also, they never mentioned it anywhere. However, we don't have enough time to hear their nonsense.

Bankers, politicians, judges, they're all the same and they work together. I still remember the first time I watched the movie "The big short", at the end it was explaining that pretty much not a single banker got arrested. For me it was mind blowing, maybe because I was young, maybe because I had a different idea of the USA, I don't know, I just feel like that it doesn't matter whether you're a first or third world country, whoever has money always wins.

The corrupt, centralized banking system is on the brink of collapse. People are starting to lose faith in Fiat currencies due to banks' inability to put inflation under control. These giants claim inflation eased off, but the truth is that things are not as good as they seem. They will keep printing money even if that means the poor will get poorer in the long run. With Bitcoin, this level of inequality is no longer possible. That's why bankers spread negative comments against Bitcoin. They are afraid it will take over Fiat, effectively stripping them away from power.

Jamie Dimon, Warren Buffet, and Elizabeth Warren all are part of the corrupt system I've mentioned earlier. We should not underestimate these people, especially with the power/influence they have over the economy and politics. While they won't be able to shut down Bitcoin, they will introduce a series of obstacles to make it almost impossible for people to get access to it. At least, within the US. For other countries, it's another story. The future is widely unpredictable, so lets hope for the best. :)

He's afraid of Bitcoin? I don't believe that, when BTC never chased him out of the office or stopped him from living. I believe he's doing this for personal interest which I believe is about investment and one thing I notice is that these people never want people from the lower class to have access to something that will give them liberation.

No, USD and EUR will never be a thing of the past and this exact belief is the reason why some government officials are against BTC which was created to complement fiat currency.
Fiat currency may be redefined but it won't be a thing of the past.

Bitcoin never be a world reserve currency but it may beat down greedy banks.

I very much agree and many people who are more closely following the news updates on the SEC's campaign against the cryptospace have also begun to notice this corruption and the conspiracy.

https://i.ibb.co/SwTD8sP/52270417-833-D-49-E3-948-B-756-F1-C8-E10-EE.jpg

ELIZABETH WARREN VIOLATED HER OATH

As a Senator, sitting on the Banking Committee,
@ewarren violated her oath. Her job is to provide and engage in actual oversight of the
@SECGov.

Instead, she conspired with her close friend @GaryGensler, not only giving him the exact questions she would ask before a hearing, but also the suggested answers to those same questions.

That isn’t oversight - it’s  fraudulent, coached testimony before Congress. She literally said that she didn’t want to place Gensler in a tough spot. Are you f’ing kidding me?

HER JOB is to place the Chairman of the SEC in a tough spot -  asking hard hitting or “tough” questions.

Source https://twitter.com/johnedeaton1/status/1733526012955074899


This grandma Elizabeth Warren should be removed from her position in the senate banking commitee.

He is only a small part of the people who can't come to terms with Bitcoin, his mindset may be right according to him but for the majority of other people never view Bitcoin the way he estimates. I have never seen a big influence in him other than just banning Bitcoin in every business he owns, he also can't intervene with his employees to hate Bitcoin because everyone has their own views on Bitcoin.
His words are just a passing gust of wind, so far Bitcoin has existed for more than a decade but there has not been a single installation that has succeeded in shutting down Bitcoin, let alone the war being carried out by one person.

Jamie Dimon is like a vitamin for Bitcoin growth. The world always are two sided and Bitcoin market is two sided too. There are people who like and support Bitcoin but there are other who dislike and don't support Bitcoin.

Fortunately for Bitcoin, it has strong community with support increases with time. The adoption of Bitcoin has been growing exponentially since 2009 and it as most steadiest and impressive in history.

Too bad for us he isn't in there because he knows that there's less control there than being in the bank, he's likely planning something big for his companies and cronies which resulted to this stupid and arrogant statement. I'm sure that if this becomes the case, there's going to be a backlash on the people that are in their jurisdiction and US can't easily move regards to this one request from their client Jamie.
He is a small part but he is an influential person and a rich one in terms of resources to make anything come true for him and it's not like Dimon isn't the only one that shares these sentiments about bitcoin, I am sure that there are other people that are as influential as him that are itching to get rid of bitcoin because they know that it's a threat to the banking system that they're making billions out of, with bitcoin, these banks know that so they do this kind of stuff. Sure he can't influence the employees, there's always a thousand more that he can hire that shares his sentiment to replace that person that he can't change their mind, that's the reality.

It's not uncommon for industry leaders to express concerns about new technologies. Jamie Dimon's stance on Bitcoin is just like the usual sentiment among traditional finance people. They should try to open their minds. It's a waiting game to see how rules and public views change the game for traditional and the crypto world.
Even in our country, they often emphasize potential misuse of cryptocurrencies such as money laundering and tax evasion. But with thorough research, the blockchain technology can bring transparency and financial inclusion. Government people should do their jobs

For governments except for the taxes and the foreign investment they can get, almost everything else that is related to bitcoin is something undesirable for them, they do not like the idea of each person becoming their own bank, the pseudonymous nature of bitcoin or the ability to make a transaction without the need of a third party overseeing them and blocking them if necessary, so it is not surprising that governments and those that benefit from the current system are not happy with bitcoin.

Lol, if we hear personalities like Jaime Dimon is talking negative about Bitcoin, it's just to buy more and just HODL on it, hehehe.

We all know what his intentions are and so are other entities attacking Bitcoin, it means that they want the price to go down so that they can buy millions and then enrich themselves. So in this case, I wouldn't be affected, again, we have seen him and his company did before in 2017 and it was very effective and so he is taking advantage of the situation again by bad mouthing bitcoin.

https://www.trustnodes.com/2017/09/16/jp-morgan-buys-bitcoin-price-rises-20

Does he realize what he said, Bitcoin will not be able to be shut down (If anyone could shutdown Bitcoin then it would have happened a long time ago), the reason why Satoshi has not appeared is to avoid people like Dimon, besides that Bitcoin has become a part of the lives of many people in the world, doing a shutdown on Bitcoin is just it's just going to be a load of bullshit. I'm willing to bet that even if Jamie Dimon becomes President of the United States, he will never be able to shut down Bitcoin.

Of course, it's only good for money laundering, that's what you'll hear from Jamie Dimon. What is he going to say else? Btw I wonder, up to 500 billion American dollars were laundered through JP Morgan and how much was laundered through Bitcoin? I am afraid, that's a huge number.
Another link from justice.gov talks everything about JP Morgan - https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-920-million-connection-schemes-defraud-precious-metals-and-us

It's a result of competition to say that Bitcoin is an enemy. I am amazed that millions of people support shady people like Jamie Dimon and support shady money laundering banks like JP Morgan.

Bitcoin has become his competitor in the financial system - so perhaps it is of no use to him at all.
I'm not surprised by what he wants to say every chance he gets - but I would be very surprised if people like this end up breaking their vows. Jamie Dimon must repent and look at the fact that the world continues and does not stop - so that new systems will continue to improve. The financial system needs a revolution considering that more and more people in the future will lose their trust in banks.

Those in power will not stop until they gain full control of all the cryptocurrencies (which I doubt is possible). Cryptocurrency (especially bitcoin) is a big threat to them. Their worst nightmare is that they might start  losing revenue especially from tax if all tax payers  adopt bitcoin. Their only problem with Bitcoin is it's decentralized nature which denies them the opportunity to be in control and know what's going in and out of a person's account, they are not happy with the mass adoption of BTC . But the good news is, bitcoin has come to stay, with time all those opposing bitcoin and cryptocurrencies as a whole will bow to the pressure  and adopt Bitcoin and  Altcoins like every one else

It doesn't have to be one or the other. It is both.
Central banks are definitely worried about bitcoin's adoption and phenomenal growth, in fact the most corrupt banks are the most worried about this because they see their power ebbing away!

Or they can adopt to it and use it to take advantage of it. I knew a handful of local banks in here who have adopted into crypto and added direct bitcoin purchase using a banking app. Any banks could all do the same, but I think there's something more reason why JP Morgan and Dimon totally go against bitcoin. Just like what has been stated as they think bitcoin is nothing good but a tool for money laundering, funding criminals, and stuff like these. Well, I don't think they like the competition though for as we all know a lot of banks have been involved in money laundering and other criminal stuff.

Nobody wants a competitor, and that's a fact. If I were in a business and someone opened a shop beside my shop, I would surely take that as a negative thing.

And as for money laundering, tax evasion, hiding transactions, or any other criminal offense, it's everywhere. It doesn't matter whether it's fiat or crypto. Money laundering or tax evasion existed long before the creation of bitcoin or crypto. And then there was a thing called banks for those activity, so everyone is aware of who the real threats are, lol. Today I saw a news of a man who took 5 million (50 lakhs in bdt) loan from a bank. He paid over 10.5 million in 10 years more then double the amount. But the bank is still demanding 2.5 million from that poor guy, threatening the person. And for Bitcoin it has only been around for a decade.

From my perspective, I think banking institutes and crypto serve the same purpose in a way, which is a method of payment. The only difference is that banks are centralized, meaning you don't have control over your own money, and crypto (bitcoin) is decentralized, meaning you are in control of your money.

Anyone can say whatever they think about BTC or cryptocurrency in general or sing about it being a complete tool for only criminals and money laundering, but everyone can see the uses and benefits and have been able to distinguish it as money of the future.
Banks accepting cryptocurrency or allowing their channels to buy crypto have done so because the government allows it and maybe considering adopting it as a legal tender it they get to see how the progress report and statistics of volatility that made it better still.

Dimon is just scared of the unknown, he's enjoyed a system that has served him very well over many years. He’s a bit of a boomer & probably doesn’t enjoy change. Unfortunately for him he’s going to have to alter his way of thinking or people will move from JPM to Blackrock or similar. Move with the times or lose Jamie.

Because they want us to continue using their legacy systems, and their plans to "upgrade" that is through CBDCs. A centralized digital currency they control programmatically, and "guided" by their rules.

Bitcoin, enforced by the consensus rules of the network, gives us the faculty to actually own our own digital assets, and therefore functioning as a right to actually own property in the internet.

Jamie Dimon has several reasons to attack crypto, but I think he would also have several reasons to embrace it if he was smart and visionary. If something can't be stopped, I guess embracing is always better than opposing it unless it is something evil to humanity, which I believe he doesn't really think BTC is.

They are losing out on transaction business and they are also losing out on investment business because the younger generation isn't going to buy shares or ETFs when they can one-click buy crypto in their apps. Owning BTC is becoming a thing among the younger people. That's what I see in my closer environment. The number of questions I get asked by young people has been significantly increasing over the last few years. They find the topic interesting and they want to own some. The tendency to own digital assets takes away business from in-house brokers of banks like JP.

BTC doesn't charge a fee for owning an account. For a bank it makes a difference if someone parks 100k USD in the bank account, which can then be used to give out loans and earn money, or whether someone parks it in their own BTC wallet. And the whole trend is just starting and I think Jamie Dimon knows it.

But I have been asking myself this question countless of times, do these people really not own any BTC? They are rich already, yes. But if they see a growing trend and it doesn't cost them much to buy a small share in that movement as I would call it, would they really not do it for ideological reasons? If I hated art, but I would still be convinced it is going to explode in price, would I refrain from owning some? I think I wouldn't.

Some countries have either adopted BTC as legal tender (eg: El Salvador, Central African Republic) or are about to do it (eg: Argentina). These are signs that BTC will become the world currency in the future. I know most governments want to push their agenda of rolling out CBDCs (Central Bank Digital Currencies) to the public. But the thing is, people are getting tired of ever-rising inflation rates (despite claims from central banks that inflation is easing off). This will cause distrust in the banking system patronized by mainstream governments worldwide.

You can see why Bitcoin has so many enemies. Particularly those within the banking sector (Jamie Dimon) and in the government itself (Elizabeth Warren). They don't want BTC to prevail, otherwise that would mean people will ditch Fiat (in this case the USD) in favor of a decentralized cryptocurrency governments can't get ahold of. Lets see what Jamie has to say after BTC goes all the way to $1m. Maybe he will change his mind once Blackrock gets its spot ETF approved by the SEC? :D

According to what I know these two countries have already adopted Bitcoin as a legal tender but I don't know about Argentina and it's too early to know if their President truly has the plan.

Yes, people are getting tired of inflation and have already lost hope in the government's provision of a total solution to it because the government keeps making the same mistake over again while also ignoring the true solution to it. However, this does not mean Bitcoin will be the world currency in the future because it's something they (the government) never want at all course.

This is more the reason why Bitcoin will never be a world currency although it won't stop BTC from being used as a payment method globally.

People like him will never change their mind though he may secretly invest in BTC while he say the negative publicly about BTC.

A little ridiculous considering how much money they have made already from scooping a bunch of coins in this last bear market. Of course he would say something like this though I mean BTC is a direct threat to his business but good luck shutting bitcoin down lmao

They are absolutely NOT losing out in the "transaction business", it's laughable because don't you see how
small Bitcoin's TPS is? It's not a threat to the banksters. But what they're probably afraid of is the socio-political uses of cryptography and how it could be a tool for social change, AND Bitcoin is the most-used cryptographic tool in existence. The more users it has, the bigger problem it will be socially and politically for them.

Buy the DIP and HODL.

Bitcoin at its current state, is not a threat to the banksters. But with scaling improvements (L2, sidechains, etc) it will. BTC's decentralized and open source nature should be a "red flag" for banks' very existence. That's why they're doing everything in their power to minimize its usage worldwide. Banks won't be able to defeat Bitcoin, but at least they will stay relevant for generations. As long as people use Fiat more than Bitcoin, nothing else matters.

I believe Jamie Dimon's comments are nothing more than pure FUD. He could be secretly buying and holding BTC for the "big pump". The same can be said about Sen. Elizabeth Warren. They want to plunge BTC's price to buy it at a discount. Deep down, they know it's impossible to shut it down forever. Either you live with it, or be left behind in the dust. Just my thoughts ;D

I am surprised with the kind of statement this man made in front of legislators. I assumed that he has already made a turnaround with Bitcoin and has already accepted the fact that Bitcoin is inevitable. Anyway, good to know that he is not of the government...as I could not imagine if he is the one leading the SEC these days as he can even be bitter than Gary Gensler. For all we know, one day Jamie Dimon will admit that he has hoarded Bitcoin himself.

Only time will tell if Dimon's viewpoint undergoes any significant changes. He consistently expressed skepticism about Bitcoin and while he may have influence within business realms, the broader crypto space operates independently. Tho i think it’s still essential for enthusiasts to consider diverse perspectives and make informed decisions despite opposing opinions from traditional finance figures.

i don't think that the banking industry can be much better than bitcoin, in fact i think that the banking industry is much more evil, dirty and disgusting, when there are more cases of money laundering, fraud, embezzlement, child pornography industry, illegal mining, and many more . so when he points out that bitcoin is a good place for money laundering, or various other illegal actions, he should be looking at the banking industry which is much more disgusting than bitcoin.

Thankfully (or at least hopefully), Jamie Dimon will never hold a political office since he tarnished his name during the housing/banking crisis of 2008, so fuck him and the horse he rode in on.  But this is assuming Americans remember his involvement, since it was quite a long time ago.

But even aside from his comments on crypto/bitcoin, that guy is a scumbag--but anyone who rises as high as he does in the banking industry is guaranteed to be cut from the same cloth, so that's to be expected. 

Ain't nobody shutting bitcoin down anyhow.  And if someone did somehow manage to pull off the miracle of all miracles and do just that, what about the thousands of altcoins on the market?  How exactly does one go about "shutting them down"?  Pfft.

Bitcoin and its technology is a foreseeable threat to the bank, not the way it was built but the idea of the bitcoin itself. See how the blockchain propagates in the recent years, and people keep coming with new projects on crypto upscaling and bringing the bars high. With the generation of us living in the internet? I don't think bank can keep up with the decentralized technology as people are getting more exclusive now.

Just a FUD, we had this numerous times already yet we don't know if he is one of those whales pumping and dumping sh*t on his laptop.

If Jamie Dimon is secretly buying BTC, I doubt he will ever reveal it to the public. A banker like him getting into Bitcoin will lead more people to ditch Fiat in the long run. And that's something no government wants. Eventually, Bitcoin's enemies would have no choice but to accept defeat. The cryptocurrency is virtually unstoppable thanks to its decentralized design.

If bankers and governments wanted to "destroy" Bitcoin, they would've done so within the early days of the project. Now it's too late to do anything about it. I wonder what would Jamie say once BTC goes all the way to $1m? :D

Shocking that rich people with control of the fiat economy are against Bitcoin. They see that it would hinder their business practices if they had to be transparent and they would also lose a great deal of power as a result. Their whole business is built on fiat and manipulating prices. Bitcoin to them is like a light be shined on a pile of cockroaches.

After telling the grandma Elizabeth Warren and the other legislators in the senate that he if he was the government he would close bitcoin down, JPMorgan is named an authorized participant for Blackrock's ETF.

This might be headshaking for some of you, however, this has shown who the real rulers are.

https://i.ibb.co/JBR4g3Z/1952-BEB8-A059-49-DC-9-A00-E940908204-B9.jpg

Wall Street titan BlackRock today amended its much talked about Bitcoin exchange-traded fund (ETF) filing and named banking giant JP Morgan Securities and trading firm Jane Street as authorized participants.

In the world of ETFs, an authorized participant is the organization that works with the issuer of the fund to create and redeem shares of a fund so that an investor can cash out.

This, according to experts, is likely the last step of the application process for the long-awaited product after various reviews and amendments.

Source https://decrypt.co/211208/blackrock-bitcoin-etf-jp-morgan-jane-street

People bantering the existence of Bitcoin must have a peculiar reason for doing so. Jamie Dimon has listed his own personal reasons, someone somewhere else also has a tangible reason he or she has to close down Bitcoin and cryptocurrency at large. This is not something we should undermine, cos for them to have a reason whatsoever to close down btc, btc must have done something wrong to them or they do not have any formal knowledge about the market. Any one who pose such impression shouldn't be fought by us the vendors cos what rocks my boat might sink yours. Aloha 🕊️.

This is the proof, it's not that they don't like Bitcoin, the thing is they don't like that they do not control Bitcoin, they are not the one who gain the most profit out of this Bitcoin speculation, when there is something suitable for them like Bitcoin ETH, they will jump into that immediately. All they need is the control, they want to control people's fund, doesn't matter wether it's stock, REIT, or crypto.

Exactly. That's the main reason why most people with a high social/political status hate Bitcoin. They can't manipulate it the same way they can manipulate Fiat. Banks have been known to encourage corruption for years. They have full support of the government to manipulate the system for their own benefit. It's such where our society are slaves of the existing monetary system. Bitcoin is the complete opposite of Fiat promoting the values of freedom and self-sovereignity. The "deep state" has been trying to shut it down to no avail. We can thank Bitcoin's decentralized and censorship-resistant design for that.

Again, Jamie Dimon's comments are nothing but pure FUD. He might be secretly buying BTC alongside Elizabeth Warren and the rest. The ultimate goal is to make market prices decline, to buy Bitcoin at a cheaper rate. Why won't you take advantage of the situation to grow your coins of coins for the future? Just my opinion :)

Clearly he is expressing his personal opinion which he is entitled to, he has probably seen the potentials of Bitcoin in the future and is feeling somehow threatened that a decentralized digital currency might take over as a dominant force against fiat currencies in the future. Despite his stance on Bitcoin, the adoption keeps increasing, so Bitcoin holders don't need to worry about his remarks, because it remains a decentralized asset that keeps increasing in value and there's nothing he and other haters can do about it. Just like in the banking industry you'd expect that there'd be scammers and illegal transactions in crypto, that does not mean that there are no genuine holders of cryptocurrency, it's just so miopic.

Another drama before Bitcoin halving? Seems like it. I don't care about what other people say about Bitcoin, I have seen the history and I believe in Bitcoin. That's all it takes. People will keep spreading FUD. But that did not stop Bitcoin in the past and it will not be able to do in the future.

Keep believing in what you believe. People like him will come and go, but Bitcoin is here to stay and it will stay for sure. Those weak-hearted hodlers will sell and give us an opportunity to buy more Bitcoin at a low price. Think of this as an opportunity for us. In the end they are the losers. Because they can't do shit with their FUDs.

Criminal activities have been happening from who knows what time and Bitcoin is not the reason for it. People have been doing criminal activities with money gold and other assets. But they are not bad. Why the double standards? Because Bitcoin pose a threat to people who have been using those and they do not like competition.

Well said. It's nothing but pure FUD to drive away as much people from Bitcoin as possible. Jamie and other bankers and government officials know Bitcoin won't be going anywhere due to the way it was designed. You wouldn't expect them to endorse the cryptocurrency, especially when it goes against Fiat's principles. Would you? Eventually, these critics will get tired as Bitcoin becomes more popular.

Regulations will become stricter each day, but BTC will be alive and running as usual. With how things have been progressing since day one, it's likely Bitcoin will live alongside Fiat for generations. Maybe it will go as far as replacing it in the future? :D

Some of his reasons for wanting the shutdown of Bitcoin are actually valid. The important features of Bitcoin like Anonymity can certainly be abused by the bad guys   I expected a responsible community to come together and work out a transparent countermeasure against criminal use by now. Ofcourse, couple of effective & workable solutions were proposed in the past but so far nothing has been done with them. Certain people within the Community seem to think that criminals have that rights too, probably forgetting that the features were created to protect people from criminals/evil. Criminals are not entitled to the thesame protection otherwise it would be hard to find and get them arrested.

If thats the argument why not "shut down" Cash? it is used far more than Bitcoin by criminals?

I'm fairly certain that anyone buying and selling drugs on the verious streets of rhe world
are paying in Cash not Bitcoin for example.

Dimon isnt worried about criminals using Bitcoin he is worried about the perceived threat
it might have on his interests and as others have pointed out, they cannot control it. They
use buzzwords like "Criminal behaviour" to seek validity to their arguments among their peers.
Its nonsense.

The funny thing is that he is contradicting himself all the time. Remember this one (https://www.afr.com/companies/financial-services/jamie-dimon-would-fire-any-employee-trading-bitcoin-for-being-stupid-20170913-gyg7n0):

"Jamie Dimon would fire any employee trading bitcoin for being 'stupid'"

Let me give this a wild guess and say that I am sure JP Morgan Chase would have to close their doors if all employees who are trading Bitcoin or have traded Bitcoin in the past / will trade Bitcoin in the near future would be fired with immediate effect! :D

As far as I know they are offering trading support or even custody to their customers? I am not certain about that, but I like this one as well (https://coingape.com/jp-morgan-crypto-team-bitcoin/):

"JP Morgan Grew Its Crypto Team By 200%, Amid CEO’s Criticism Of Bitcoin"

These contradictions get me thinking because I can't find out what agenda Jamie Dimon is pursuing. What is his goal when he bashes Bitcoin publicly while his company is actively involved in the crypto space?

IMHO, Jamie is still experimental despite all of his efforts to tell nasty things about Bitcoin. He's actually doing the opposite and he wants the best out of those people that are buying his words. Because no matter what he tells, the market is doing its own thing and rises every single time he'd say some shit towards the media. When I say experimental, it's about on how he can maximize all of the exposure that he gets for himself and his entire company to maxed out the benefits they're getting with for being vocal.

It's all FUD. Jamie wants to tank Bitcoin's price so he can buy more coins at a discount. But that's never going to happen. Especially when spot ETFs are on the brink of approval. Turns out Blackrock named JP Morgan as an authorized participant for its spot ETF offering. You can read all about it here: https://news.bitcoin.com/gofrom/icymi/blackrock-names-jpmorgan-as-authorized-participant-for-spot-bitcoin-etf-despite-jamie-dimon-wanting-to-ban-crypto/ (https://news.bitcoin.com/gofrom/icymi/blackrock-names-jpmorgan-as-authorized-participant-for-spot-bitcoin-etf-despite-jamie-dimon-wanting-to-ban-crypto/)

I wonder what Jamie has to say now that Bitcoin will experience massive institutional adoption? Will he still claim BTC is used for illegal activities? With Bitcoin having legitimate use cases, its enemies will have no choice but to join it. As it's said in the real world, "if you can't beat them, join them". The future is bright for Bitcoin and the whole crypto industry. ;D

I've spoken about Jamie here quite a bit, and my opinion still stands.  Jamie Dimon should be rotting in a jail cell right now, however he runs one of the worlds largest and most profitable scams.  Just take a look at how much JP Morgan Chase has in fraud violations since the year 2000.  Nearly 40 BILLION dollars   https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  That's not a type.  This man is pure evil scum.  He doesn't like bitcoin because it goes against how he makes his millions. 

JPMorgan Chaseis the biggest bank in America. It is odd the way that someone like Jamie Dimon who has presided over this empire for so long, can be so foolishly opposed to an idea.

A bank is in the business of managing the movement of money but the more important function that banks perform is managing the credit cycle that leads to the multiplier effect. Bitcoin is simply not in that same business and has nothing against the work that banks do.

This is also the reason that a lot of these institutions are now gradually starting to accept that Bitcoin is here to stay. Yes, there is a need to dissuade bad players but that a law and order issue which is definitely not exclusive of Bitcoin. Instead of rallying against bitcoin in such stupid manner Jamie should use his clout and the enormous resources to find a way to better integrate bitcoin into his services.

His opposition is almost like a hatred, an emotional stance, rather than a well-thought out, rational one.

If Jamie Dimon shuts down Bitcoin totally, will it stop the the bad guys from operating? No it won't,  they will definitely turn to Fiat for all their transactions.  Why not shut down fiat too?
This is a proof that there is more to Jamie's claims, all he wants is total control!. He wants to know what comes in and out, how to tax Bitcoin earners, how to earn from transaction charges and give Bitcoiners tough time. Bitcoin is just a threat to them all because they cannot control it. To even think of it, which government will approve what they cannot control? The ones who know what's up have approved it and are seeing the benefits already while those who are just interested in control are wasting their efforts fighting it. Bitcoin has come to stay, no going  back!

That's the main reason why Jamie hates Bitcoin. The cryptocurrency's level of transparency would reveal his corruption to the public. With the USD, he can hide his activities without leaving any trace. Only the government will be able to know his tactics. I guess being a banker does have its benefits.

I'm yet to see what will be Jamie Dimon's reaction after spot ETFs are approved by the SEC. BlackRock already named JP Morgan as an "authorized participant" in its ETF application. Would he retract his comments of Bitcoin being a cryptocurrency used by criminals? Only time will tell us. I'd hold on tight as this is going to be a "bumpy" ride. :D

See that's the funny thing or irony of the whole situation.  Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF.  The main is a massive hypocrite on top of being one of the worlds biggest scumbags.  I can't stand this piece of human filth. 

Banks are only interested in Bitcoin's core Blockchain tech. Not the cryptocurrency itself. JP Morgan has been experimenting with its own version of the ETH blockchain for the implementation of its very own cryptocurrency/token. Yet, Jamie Dimon criticizes Bitcoin as being a cryptocurrency used for criminal activities. If that's the case, why care about Blockchain tech at all? Pure hypocrisy like you've said.

Eventually, these bankers will launch a CBDC with the government to proceed with their plan of a "global reset". The rich will become richer, and the poor, poorer. Once CBDCs rule the world, we should expect a full blanket ban for decentralized cryptocurrencies like BTC and ETH. At least, in the future. Lets all enjoy the spot ETFs hype while it lasts. ;D

They are hypocrite indeed, but that's how they handle business here.
As long as they can gain something out of it, sure, they will explore such path even if it is like against what they previously said to the public.
Business is business, so long they can exhaust some profits, they will be hypocrite persons.
With such attitude, we can already see who's trustworthy or not, so it depends on you as a user who to follow when it comes to possible financial advice.

Who is he? :D
I know JP Morgan because it's one of the biggest companies and I'm always up to date with what it's doing but not the people.
Well he is a very great person because indeed he is currently highly regarded for his position but what is his capacity to comment on bitcoin and by saying "if he is in the government" is with this statement to be seen as someone who can sit in the seat of government in his country :D

Statements like this have actually lost interest if used as an excuse because this is an old-fashioned way to destroy bitcoin because however such a way has always been done but in the end it does not provide significant results for them to destroy bitcoin.
In addition, when talking like this, it can also backfire on itself because after all, if you talk about bitcoin and argue like that then what is the company doing, is it really very clean from criminals? of course not only that it is not exaggerated because it will interfere with activities, especially in matters of trust in banks.

Ehh I certainly agree that they are mostly interested in the blockchain technology and how this could be implemented in to their systems and how it could improve things, but banks tend to be interested in anything they can make money on.  I have no doubts that Chase financial adivsors will start putting people in to bitcoin ETFs.  As an FA who hears from clients all the time on bitcoin, they want to own it and they want to own it as safely and easily as possible so an ETF where they don't have to worry about the key control, will be extremely enticing.  Can't wait to see how Jamie reacts to this.  He certainly wont stop it, if there's money to be made, he's there for it.   

True you will see the fun part in his statement, its only proven that they can't beat or they can't get into the level of bitcoin that's why they resort to bad mouthing or pulling bitcoin down little he knows that no matter what he says or how influential he is people with right mindset and very know to bitcoin will not believe in what will he says, and based on the others opinions or post this person is a big scum and have a quite bad image proving that he is only saying things that could tarnish the image of bitcoin, but yeah sad part we can't do anything to that, there are no laws protecting bitcoin so even if someone like him saying false information and false accusations to bitcoin we can't sue him or what. The only thing we could do is not believe in this kind of person.

The question is when he will gain a government position? However, closing bitcoin will not be done if there’s only one official who will go against it, as there should be a harmonious decision from all officials in order to close bitcoin and stop its function. But, we should also know that even government cannot completely ban bitcoin. You need to shut down the whole internet connection first so that bitcoin will not be able to function again, which I think is highly impossible since the whole universe will be affected as well.

With spot ETFs approved by the SEC, the US government will finally be able to control a large portion of BTC's supply. Jamie Dimon should be happy now. I know most people won't care about this, as long as they see market prices grow in the long term. They're missing the bigger picture of what will ultimately (God forbid) lead to the demise of Bitcoin in the future. Wasn't BTC meant to be the anti-thesis of the existing monetary system empowered by banks and governments alike? By opening the doors to "Wall Street" we have moved away from Bitcoin's original vision.

It's likely Jamie will keep bashing Bitcoin while buying it in secret. The more negative pressure is exerted over the cryptocurrency, the lower market prices will be. This means bankers and the "Elite" will be able to grab BTC at a huge discount. Don't fall for their moves. Lets see how much BTC these institutions (BlackRock, Fidelity, etc) will accumulate over time. With such a finite supply of 21m coins, it's likely they will "own it all" (sort of). The future can't be predicted, so lets hope for the best. :)

           -   If the government can't shut down Bitcoin because they don't have the ability to do it, then he is not an official of the government.  
This Jamie Dimon is too funny. And he also feels too entitled or invincible.

Then, if he really has the ability to shut down Bitcoin, before he does that, he should first run for a high position in the government as a politician before he brags that he can actually do what he says. Maybe because of his campaigning and becoming a politician, he is no longer an effective and he will lose immediately. That's what he is saying. This Jamie Dimon is really funny; his statements for our communities are bad for what he says, where the sound of his surname "DIMON" is the sound of "DEMON." No wonder :D