JPMorgan’s CEO claimed Bitcoin it is a fraud

[Tyrantt]

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

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

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

[ccowl]

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

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

[South Park]

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

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

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

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

[StockBet.com]

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

[voronint11]

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

[South Park]

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

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

[Ewinsane]

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

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

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

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