"Bitcoin Will Not Survive", says Jamie Dimon

[febriyana]

Technology is always forward growing...
that is the reason bitcoin will survive.
 

[JuanHungLo]

Who cares what Jamie D thinks?
The fact is that bitcoin doesn't need him.  Bitcoin doesn't want him. 
Bitcoin is only as powerful as the power you give it.
So quit worrying about what these financial dinosaurs think. 
They are the walking dead.  We are the world's new wealthy elite.

[cetah]

If JP Morgan does not adapt to the changing environment of the new finance world, it will not survive.

[notbatman]

If JP Morgan does not adapt to the changing environment of the new finance world, it will not survive.

This truly is a "Kodak moment", heh.

[hdbuck]

JP Morgan will not survive (the next financial crisis).

[jyakulis]

I don't really get this blockchain verses bitcoin thing. Without the incentive of mining how do you have a network powerful enough to maintain security?
Are they just going to roll out blockchains with centralized super computers at 5 or 6 locations verifying transactions?

I guess what I mean without 300-400 dollar bitcoins being popped out of the network how do you create any incentive from users to want to put up the hardware to power the network.

Hmm, maybe they are smarter than me.

[cjmoles]

I don't really get this blockchain verses bitcoin thing. Without the incentive of mining how do you have a network powerful enough to maintain security?
Are they just going to roll out blockchains with centralized super computers at 5 or 6 locations verifying transactions?

I guess what I mean without 300-400 dollar bitcoins being popped out of the network how do you create any incentive from users to want to put up the hardware to power the network.

Hmm, maybe they are smarter than me.

Well, there are funds being channeled into the research of various alternatives to the incentive network....some forms of POS/POW systems, interrelated assets (NBT/NSR/PPC), and others.  The main point is that the block chain ledger is the backbone of the technology and as the technology evolves the branding of the technology will evolve as well.

[hdbuck]

I don't really get this blockchain verses bitcoin thing. Without the incentive of mining how do you have a network powerful enough to maintain security?
Are they just going to roll out blockchains with centralized super computers at 5 or 6 locations verifying transactions?

I guess what I mean without 300-400 dollar bitcoins being popped out of the network how do you create any incentive from users to want to put up the hardware to power the network.

Hmm, maybe they are smarter than me.

Well, there are funds being channeled into the research of various alternatives to the incentive network....some forms of POS/POW systems, interrelated assets (NBT/NSR/PPC), and others.  The main point is that the block chain ledger is the backbone of the technology and as the technology evolves the branding of the technology will evolve as well.

there is no branding.

bitcoin is bitcoin.

they can research it and fund private corporations as much as they want, they will never compete with bitcoin.

[jyakulis]

I don't really get this blockchain verses bitcoin thing. Without the incentive of mining how do you have a network powerful enough to maintain security?
Are they just going to roll out blockchains with centralized super computers at 5 or 6 locations verifying transactions?

I guess what I mean without 300-400 dollar bitcoins being popped out of the network how do you create any incentive from users to want to put up the hardware to power the network.

Hmm, maybe they are smarter than me.

Well, there are funds being channeled into the research of various alternatives to the incentive network....some forms of POS/POW systems, interrelated assets (NBT/NSR/PPC), and others.  The main point is that the block chain ledger is the backbone of the technology and as the technology evolves the branding of the technology will evolve as well.

Hmm, ok but without incentive to maintain the network there is no network.

[adamstgBit]

it's my belief that Jamie Dimon is being dishonest and is actually accumulating bitcoin

[ArticMine]

it's my belief that Jamie Dimon is being dishonest and is actually accumulating bitcoin

If Jamie Dimon has even the faintest understanding of the transaction capability of Bitcoin with its 1 MB blocksize limit I doubt very much he would consider investing in Bitcoin.

[marcus_of_augustus]

it's my belief that Jamie Dimon is being dishonest and is actually accumulating bitcoin

yep, most likely talking his book ... shorting, then accumulating. Notice his "announcement" came right at the time to blow the top of the wave.

[Omegasun]

JP Morgan will not survive (the next financial crisis).

If there is still American government, it will survive as it controls the American government and American people.

[lumeire]

If JP Morgan does not adapt to the changing environment of the new finance world, it will not survive.

Pretty ironic considering that remark came from a company that is seemingly interested and 'fascinated' by the blockchain tech. As long as the blockchain is utilized there'll be bitcoin.

[Pierre 2]

I will curiously wait for this guy's delusion to be determined.
And he strangely favours blockchain tech. If you think btc will die how can you think blockchain will survive?
They are like meat and bone.

[maku]

Actually I too think that bitcoin must change. Not that I want it but simply because governments won't allow it in its current state and regulations will be reality in the future.
I can't see how or what authorities do exactly, but I am convinced that they can influence changes of the bitcoin core protocol if they really wanted.

[USB-S]

Actually I too think that bitcoin must change. Not that I want it but simply because governments won't allow it in its current state and regulations will be reality in the future.
I can't see how or what authorities do exactly, but I am convinced that they can influence changes of the bitcoin core protocol if they really wanted.

Bitcoins are already heavily regulated in most parts of the world. They really don't need any more regulation than has already been put in place.

If you're speaking of a backdoor for government access, then that shit ain't going to happen. NEVER.

[Mr. Forum]

Hi Coinbuddy. The CEO said what came in his mind and based on the analysis he carried out. I think in this digital world, we need to be careful of the invention that are being propelled. The digital currency may be underrated at this time when it has lots of ups and down but trust me we are heading to a digital age where digital currencies will be convenient. I do believe with the advancement in technology, Bitcoins will still survive. It however depends on how this whole crypto currency issue is handled.

[ajareselde]

Actually I too think that bitcoin must change. Not that I want it but simply because governments won't allow it in its current state and regulations will be reality in the future.
I can't see how or what authorities do exactly, but I am convinced that they can influence changes of the bitcoin core protocol if they really wanted.

The only way to influence core protocol changes is to fork bitcoin, and even then u would still need for people and services,exchanges and so on.. to switch to that new chain.
Suffice to say how that isn't even remotely likely to happen.

[cohnhead]

Actually I too think that bitcoin must change. Not that I want it but simply because governments won't allow it in its current state and regulations will be reality in the future.
I can't see how or what authorities do exactly, but I am convinced that they can influence changes of the bitcoin core protocol if they really wanted.

The only way to influence core protocol changes is to fork bitcoin, and even then u would still need for people and services,exchanges and so on.. to switch to that new chain.
Suffice to say how that isn't even remotely likely to happen.

bitcoin wont change too drastically .....to change it would make it something other than bitcoin.  and if that be the case then why not just adopt another cryptocurrency, there are 1,000's to choose from at this point.
Bitcoin..the platform...both the token and the chain, is the first, most known, most built upon, most capitalized... so stands to reason it will dominate for some time. Longer than the now almost extinct dimonosauous.
i'm sure there will be other crypto currencies to survive too, that fill certain niches or needs. Like cars, basically they get you from one place to another, but some do is faster, some do it safer...some look sexier. I think inherent in our human nature is the freedom of choice or should I say perceived choice.