Fear.

[BenOnceAgain]

Considering all the other things he's said about Bitcoin over the years...

They're (establishment) scared of the power of Bitcoin.  Lashing out.

    DIMON: BITCOIN IS A "FRAUD"; "WORSE THAN TULIP BULBS"
    DIMON: BITCOIN WILL EVENTUALLY BLOW UP
    DIMON: BITCOIN WON'T END WELL
    DIMON: WOULD FIRE ANY TRADER TRADING BITCOIN FOR BEING STUPID

http://www.zerohedge.com/news/2017-09-12/bitcoin-tumbles-after-jamie-dimon-calls-it-fraud-would-fire-anyone-trading-it

[emuLOAD]

Well, any trader banking on bitcoin growing infinitely or never crashing probably should be fired.

one riding the waves, making silly ammounts of profit (and taking it out)... hmm...

[BenOnceAgain]

Well, any trader banking on bitcoin growing infinitely or never crashing probably should be fired.

one riding the waves, making silly ammounts of profit (and taking it out)... hmm...

Yeah I agree with you there.  Along with playing the headlines to push the market up or down.  Nothing would ever happen like that.  Hey, with BTC, it's not even illegal as it's not a security.

Considering he's on the short list to be the next Chairman of the Federal Reserve Board of Governors, interesting quotes.  But it fits in with prior statements he's made.

At the same time, of course, JPM has Quorum, which I believe is a fork of Ethereum.

https://www.jpmorgan.com/global/Quorum

All smoke and mirrors.

[aleksej996]

Well, any trader banking on bitcoin growing infinitely or never crashing probably should be fired.

one riding the waves, making silly ammounts of profit (and taking it out)... hmm...

Growing infinitely is impossible for anything. And crashing is unlikely for a technology that is an advancement in every way compared to a system it replaces.

[jekjekman]

I think he knows that he is an influential figure to his company and whatever he says will matter of course especially to those who really believes in him but what if he just all planned it to get a profit out of cryptocurrencies then he is winning and will become richer though.

He said that 'bitcoin is fraud' and that's what people fear? as far as I know bitcoin is not yet reach the 1st decade of its existence and it already reaches the astonishing value as $5,000 so every business man I guess will be much more interested because they got the money to invest in.

[Mezmon]

Well, any trader banking on bitcoin growing infinitely or never crashing probably should be fired.

one riding the waves, making silly ammounts of profit (and taking it out)... hmm...

Growing infinitely is impossible for anything. And crashing is unlikely for a technology that is an advancement in every way compared to a system it replaces.

Not to mention all the other coins that made advancements off bitcoin. This is all just fear based manipulation!

[CoinChili]

Not to mention all the other coins that made advancements off bitcoin. This is all just fear based manipulation!

I agree, or maybe he has gain bitterness on the rise of bitcoin? does he lost or something that made him such statements? Ups and downs is normal trend, however it does not end to that.

[krishnapramod]

Considering all the other things he's said about Bitcoin over the years...

They're (establishment) scared of the power of Bitcoin.  Lashing out.

    DIMON: BITCOIN IS A "FRAUD"; "WORSE THAN TULIP BULBS"
    DIMON: BITCOIN WILL EVENTUALLY BLOW UP
    DIMON: BITCOIN WON'T END WELL
    DIMON: WOULD FIRE ANY TRADER TRADING BITCOIN FOR BEING STUPID

http://www.zerohedge.com/news/2017-09-12/bitcoin-tumbles-after-jamie-dimon-calls-it-fraud-would-fire-anyone-trading-it

Jamie Dimon statements against bitcoin.

2014: It's a terrible store of value. It could be replicated over and over. They will eventually be made as a payment system to follow the same standards as the other payment systems and that will be probably be the end of them.

2015 : You're wasting your time with bitcoin. No government will ever support a virtual currency that goes around borders and doesn’t have the same controls. It’s not going to happen. The technology will be used, and it could be used to transport currency, but it will be dollars, not bitcoins.

2016: Bitcoin the currency is going nowhere. There is nothing behind it, and if it was big the governments would stop it.

2017: Fraud, tulip mania, blow up, won't end well.

Dimon has been criticizing Bitcoin for quite some time now, did it stop Bitcoin? No. It is growing.

Parroting the unified media statement of the banks only points the finger back to themselves and uncovers how scared to death they are vis-a-vis bitcoin. Their actual goals are to make savings, present some "innovations to their investors", and to preserve the financial status quo, not to enhance it, not to repair what is wrong, no!

That's why I strongly believe in Bitcoin, there is a vision for an independent private ownership, for a free and voluntary exchange. Bitcoin may not have the budgets and the PR crew, it may have technical difficulties to overcome, but it has a clear reason for existence.

Banks and the state, both gemini have been petrifying for too long, patching the cracks by bailouts, by establishing heavier systems of control, by printing money, by growing bigger and bigger. Bitcoin is the diet for current overweight banking system. They have no chance to be as agile as new fintech startups and technically they can't stop Bitcoin. Of course they will try to discredit it and whether they succeed also depends on how much attention we give to them.

- Alena Vranova, SatoshiLabs

Just ignore the FUD.

https://cointelegraph.com/news/bitcoin-experts-jp-morgan-speech

[zidane]

Thats a good sign for Bitcoin. One of the biggest world bank has fear and is spreading FUD now. I love such news. Price will go down sure because of the weakhanded but wait just 5 years and you will see 50000USD each Bitcoin. I am here since the beginning and after it crashes from 10usd to 1 usd they told BTC is dead and will be forgotten in the next months. 6 Years later I am sitting still here and Bitcoin was at 5000USD.

[omonuyak]

Bankers are afraid of bitcoin because they know bitcoin is going to keep them out of the evil business activities. Jp Morgan comment is a strategy of creating Fear in the mind of bitcoin holders in other for them to sell out of panic and they are actually currently doing that now. If people can see the comments this people has make over time based on op post here then we should know that there are not in your favor but discouraged people not to invest in bitcoin and encouraging people to invest in their scam banking business activities.

[Bittoshi]

    DIMON: WOULD FIRE ANY TRADER TRADING BITCOIN FOR BEING STUPID

He is stupid, not the Bitcoin trader. He is part of the established fiat banking system and fears that his customers and investors switch over to crypto currencies leaving him alone with all the mass printed and worthless dollar and euro bills.

[crazyivan]

It s funny so established institution s got such an idiot at so high position.

I guess the time where smart people led financial sector is behind us. If I were a hedge/investment fund CEO, I d so cut my ties with this moron and his institution. Being so blind about progress is really not acceptable in financial world.

[Herlina]

Thats a good sign for Bitcoin. One of the biggest world bank has fear and is spreading FUD now. I love such news. Price will go down sure because of the weakhanded but wait just 5 years and you will see 50000USD each Bitcoin. I am here since the beginning and after it crashes from 10usd to 1 usd they told BTC is dead and will be forgotten in the next months. 6 Years later I am sitting still here and Bitcoin was at 5000USD.

yes, it is true, One of the biggest world bank has fear and is spreading FUD now.
Bitcoin has stronger and become more popular, i think they will be more afraid of this

[Kakmakr]

It s funny so established institution s got such an idiot at so high position.

I guess the time where smart people led financial sector is behind us. If I were a hedge/investment fund CEO, I d so cut my ties with this moron and his institution. Being so blind about progress is really not acceptable in financial world.

He is just the puppet. The smart people < puppet masters > are pulling the strings and they pay him to do their dirty work. How biased can he be? The cracks are showing, when the puppet masters wants him to make desperate statements like that.

He just opened old wounds from the past and a lot of people lost their jobs and their houses, because corrupt financial institutions like this stole from the people. < Who paid the bail out money? - The tax payer >

Idiots like this, just make it easier to see the bigger picture. We are coming for you. ^smile^

[AGD]

Dimon wanted to buy cheap coins. Well done!

[Pursuer]

the only thing that I ever read from articles like these are their time and date and then compare it with a bitcoin chart. do it next time you see one of these articles and you will see why I am doing it
they always come out at critical times. for example you would never in a million years hear them call bitcoin "fraud, bubble,..." when the price is on the rise. you see those green candles on the daily charts, no one dares say anything during those. but as soon as the red candles of correction begin, they also become bold to post FUD.

[AGD]

Dimon wanted to buy cheap coins. Well done!

I was right: https://twitter.com/IamNomad/status/908831764457672709

[kiddeon123]

based from what is happening now JP Morgans strategy in inflicting fear to bitcoin investors actually works, Bitcoin value drops so big and most investors of bitcoin pull-up their money in fear that they might get bankrupt. In my own opinion JP Morgan only value on things that he can get profit on and wants to destroy the things that is keeping him on accomplishing it.

[BaraxLo]

Thats a good sign for Bitcoin. One of the biggest world bank has fear and is spreading FUD now. I love such news. Price will go down sure because of the weakhanded but wait just 5 years and you will see 50000USD each Bitcoin. I am here since the beginning and after it crashes from 10usd to 1 usd they told BTC is dead and will be forgotten in the next months. 6 Years later I am sitting still here and Bitcoin was at 5000USD.

It has been the dilemma of our society that whenever something is going up and making fame within short time so FUDs are created. Fusses are roamed around the corner. Same is the case with bitcoins. Banks and governments they are all just fearing from the dignity bitcoin has achieved.

[richkellj]

Not to mention all the other coins that made advancements off bitcoin. This is all just fear based manipulation!

I agree, or maybe he has gain bitterness on the rise of bitcoin? does he lost or something that made him such statements? Ups and downs is normal trend, however it does not end to that.

It is the part of business. Loss and profit are the two aspects of business. You cannot say that every time you will earn. Sometime the circumstances go against your well, and you may loss in the business. Bitcoin is also a coin business.

Buy bitcoin and wait for the rest. If the price goes high you will become rich and if the price falls down you will loss. But you are right loosing will not turned off bitcoin forever and the more people will invest in it.