[2017-10-14] Jamie Dimon Breaks One-Day Silence to Call Bitcoin Investors Stupid

[gokayc]

Jamie Dimon is finding it difficult to ignore Bitcoin. A day after stating that he would not talk about Bitcoin, he breaks his silence to emphasize that stupid bitcoin investors will pay the price.
The Greater Fool Theory

The central theme of Jamie Dimon’s renewed attack on Bitcoin is that it is a bubble, where the underlying asset has no value. So although certain people will profit because they manage to sell their Bitcoin to late investors (the 'greater' fools), the end result will definitely be a crash. The oft-repeated comparison with the Tulip Mania was made to support his point.

    I don't personally understand the value of something which has no actual value.... A lot of the buyers out there are jazzing up everyday, so that maybe you will buy it too. And take them out.

Eventually...

After his statements that Bitcoin is a fraud and that governments would crush it, Jamie Dimon has been repeatedly confronted with Bitcoin's zooming price. He nonetheless stuck to his stance that while the price might go up, it would eventually collapse. Jamie is very comfortable with dollars, but not with a decentralized, non-fiat currency like Bitcoin.

    "It could trade for $100,000 before it trades for zero. Tulip bulbs traded for $75,000 or something like that..."

Ominous Warning

Jamie did not stop by just attacking Bitcoin, but went on to attack Bitcoin investors as well. He had previously stated that he would fire any JP Morgan employee who traded in Bitcoin, not just because it was against the rules of JP Morgan, but because they would be stupid to trade the digital currency. He again reiterated that those who have invested in Bitcoin would regret their decision.

    "If you are stupid enough to buy it, you will pay the price for it one day."

He signed off by stating that this is the last time he is going to ever answer questions about Bitcoin and he really doesn't care. (Until tomorrow perhaps!)


https://www.cointelegraph.com/news/jamie-dimon-breaks-one-day-silence-to-call-bitcoin-investors-stupid

[cr1776]

His ignorance about tulips is almost as high as it is about bitcoin.

[Taki]

Haha I thought he will hold his promise to not talk about bitcoin any more. What a man!
Just tell me were there people who regretted about their investment in bitcoin for all those year? There wasn't a one! Just remind about those guy who sold everything to invest in bitcoin. Yes, we can call his crazy, but not an idiot for sure!

[Slow death]

Haha I thought he will hold his promise to not talk about bitcoin any more. What a man!

He can not keep what he promises.


he is irritated because bitcoin has increased in value and this becomes a great threat to the system that makes him rich, the higher the price of bitcoin, the greater threat to the system that makes rich people like jamie

imagine how many people can stop wanting to use banks and look for alternative sources like bitcoin

[1Referee]

Jamie Dimon is trying to mimic kwukduck, but fails miserably. If stupid means that I am seeing my wealth in Bitcoin increase significantly, and my savings sitting in my bank account not doing anything, then let me be stupid. Best thing of all is that my wealth in Bitcoin is completely out of the bankster's reach. At first people seemed to take his words mildy serious, but he has exposed himself to the public as a manipulating scum bankster. It's obvious that JPM has missed the boat due to them not taking Bitcoin serious sooner, and thus has no other option than to fall back on low level manipulation tactics. It's not too late already Jamie, Bitcoin's market is still a tiny dot, and thus there is plenty of more growth to gain in the forthcoming years.

[MissionPhailed]

It's very clear he sees cryptocurrencies as a threat to his business. Even resorting to personal attacks on Bitcoin investors? Seriously? On the bright side, he actually helps putting BTC into the spotlights and thus sort of 'leading' more of those stupid investors into crypto. Btw, the hate/opposition expressed by certain persons, states and organizations on crypto is actually a sign that it is gaining a large foothold in global society.

[AtraxPool]

I don't think Jamie Dimon really understands how banks work let alone bitcoin..

They create Value from Nothing....

https://youtu.be/oJ5Hq0NDErA

This guy must have lost his private key and is now bitcoins biggest hater...

[buwaytress]

I don't think Jamie Dimon really understands how banks work let alone bitcoin..

They create Value from Nothing....

https://youtu.be/oJ5Hq0NDErA

This guy must have lost his private key and is now bitcoins biggest hater...

On the contrary, guys like him probably understand perfectly how banks work. It's a huge conglomerate of bankers and states that have been propping up the illusion of financial and economic strength based on mega-banking structures with a reach and roots so deep that the lie is too big to come clean on. They're battered now after the global crises of the 90s and 200s but not willing to go down just yet.

So when something like Bitcoin comes along, threatening to show a way out of that financial mire, when the lid just can't be kept on it anymore, this is the sort of frustration you can see - plus it helps to create good entries for them too!

[veleten]

this guy is a muppet now,two times weren't enough for him
to appear a complete fool,now his third and not final attempt,as if there are any who listen to his
groundless cussing of bitcoins,now its investors who are stupid
of course,they are very stupid people,to make over 100% in less than 4 month's time is what stupid people do

[aso118]

If you listen to his speech, he says there are people who are very good at playing up the media and that is why Bitcoin is getting a lot of attention. It is kind of ironic that a statement like that is coming from him. The world's media hangs on to every word that he says and the bitcoin crash last month was even attributed to his comments.