Bitcoin is a Fraud Says Jamie Dimon - JPMorgan CEO - WTF!?

[soulcity]

Meh, he should be in jail for some of his actions.

[Scallywag]

Meh, he should be in jail for some of his actions.

So banks don't like bitcoin? What a surprise , this goes against all their fundamentals.

[llhibionada]

its obvious that they are threatened by the proliferation of cryptocurrency and they seem to be trying this kinds of shady means just accept that youre the old ways. Winter is coming 

[cryptocamacho]

I agree with all the comments above. Banks will disappear....maybe in 10 years, maybe in 50......but there is no way back.
As value storage, they don't have value in the future to come.
As regulators.......they proved who they benefit and how good regulators are back in 2008. I trust the regulation of LIMITED SUPPLY. No more.

This kind of attacks will increase. We just need to be faithful to our believes.

Not sure banks will disappear completely.... certainly not in 10 years. How would we get loans, secure credit, take out mortgages, etc. ??

I'm a big believer in Blockchain and Bitcoin, but banks aren't going completely away anytime soon my friend. If they do go away, were at least 20-30 years away from that. Cryptocurrency would need to distrupt a multi-trillion (yes with a capital T) industry.... and there ain't no way the powers that be won't go down without a bloody fight. Agree with your 50 year mark... if it happens at all.

Long live bitcoin!

JD is shaking in his boots.... wonder if he'll eat his own "D" if he's wrong...LOL - he and mr. Mcafee can have a dinner party. Would love to see a picture of that! Well, not the "D" but the dinner... hahahaha....

[ilvstranger]

Hmm, it is almost the beginning of the "big war" from governments, banks and institutions that don't want the bitcoin world to enter.

Of course there are bad / good sides to everything. That's the world we live, to have a balance. Nothing is perfect and it will never will.
That they see now, that their "perfect" world of destroying lives is to an end.

But, as the cnbc post says (m/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html]https://www.c[Suspicious link removed]m/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html):

- "It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said.
- Bitcoin fell to trade around its session lows after Dimon's comments.
- Dimon's criticism comes at a time when some well-known figures on Wall Street are starting to embrace the cryptocurrency.

and as other one said above he, for sure is hodling some good amount of BTC and making abuse of its status, is doing a little bit of fud to buy more  .

That, among its real fear of bank business going to a lower curve and who knows where it will be in the near future. This sistem cannot disappear, at least not over night. They should learn to coexist and help new technologies come into market.

All this supposedly big personalities, make sh*t ton of money on fud like this and they appear to be the biggest opponents of the movement.

I also think, that they know how to manipulate the investments in the bitcoin world to have advantages and us, the little one to be always on the hard side.

With less talk about this kind of people we'll can make the suffer for ignorance. But i don't think that could happen in todays world of useless facebook media control and real media missinformation.
With media bs will start the real war, when nobody will know for sure what is happening.

Exactly how is now with China ban or temporary ban or... whatever they want to release for the viewers :-))))

So, for traders, it can be a good time to paly around. But for normal users, they should hodl and try to not go with all this news all the time.

I watched yesterday some interviews from John McAfee and i was smiling at the truth he says. He said in one that he went to elections just to have a big platform where he can inform people of security issues and all this fud coming out.

Cheers

[ilvstranger]

Let' agree on disagree my friend. 50 years....take my word
There is no place for central banks in the future.

Lending and borrowing, and small banks? maybe.
It can be done in a different way. Banks are only intermediaries, they don't lend you any money. They are just intermediaries between lenders, borrowers, plus an insurance company. Say you need a 100k$ mortgage.....it will be x1000 people that want to save 100$. Me and other people will be ready to lend you the money @3%. Just missing the platform. You can call it a "bank" if you want.

The "future banks", are the nowadays exchanges... 
With the only difference that, in this moment they are worst than any bank. Not that they can block amounts without a reason, manipulate the markets and delay transactions to make you loose from the time you want to get in or out, but they CAN DISAPPEAR over night, no matter how big they are.

You can't go to their office to knock at a door and do something... they don't care about you or anybody else, they care just to make tons of money in any way. And who knows how many bankers are involved there (that in the press are against that trend).

That is the big issue now for normal people, at how they can get access to buy/sell without having so much knowledge and read so many resources about x, y etc and have a safe place to do that.
This regulations will normal to be made. To allow the new changed world to become part of the existing one.

Also, as i said, banks can't disappear over night. The whole system is made and controlled by them in this moment. Which will not be in the future.

In 2008 one of them, made that scheme and crashed the market. Then bitcoin came to life.

We shall see what it happens.

[pearlmen]

Okay this is crazy and I want to know the community's thoughts on this...

Here is a man (Jamie Dimon) who has spent his life at the center of some of the biggest scandals in the history of the world (banking, derivative trading, asset default swaps, etc.)... making claims that Bitcoin is a fraud.

He says "It's worse than tulip bulbs. It won't end well. Someone is going to get killed".

Is this surprising to anyone at all? The banking industry is MOST threatened by Cryptocurrency and this is only going to intensify as more and more people adopt Bitcoin and other cryptos. I'm alarmed at the arrogance and pure double-standard of these elite bankers. They can all go to hell as far as I'm concerned...

Here is the article if you want to read it yourself:
https://www.c[Suspicious link removed]m/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html

I don't expect to see anything different from that coming form an individual in whose him and his kind have not only profited from the atrocities of the elite but also led us to the financial problem that has ravaged the world today and now he sees a correction to that as a threat. I prefer not to believe him which might come from giving the statement a regard.

[AGD]

They will be looking to kill the creator of Bitcoin and they'll find: ...... CRAIG WRIGHT.

[audaciousbeing]

Okay this is crazy and I want to know the community's thoughts on this...

Here is a man (Jamie Dimon) who has spent his life at the center of some of the biggest scandals in the history of the world (banking, derivative trading, asset default swaps, etc.)... making claims that Bitcoin is a fraud.

He says "It's worse than tulip bulbs. It won't end well. Someone is going to get killed".

Is this surprising to anyone at all? The banking industry is MOST threatened by Cryptocurrency and this is only going to intensify as more and more people adopt Bitcoin and other cryptos. I'm alarmed at the arrogance and pure double-standard of these elite bankers. They can all go to hell as far as I'm concerned...

Here is the article if you want to read it yourself:
https://www.c[Suspicious link removed]m/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html

He might not have the moral standing to say what he is saying based on his antecedents in the industry over the years but he sure does not something to say based on his year of experience in the financial industry and having to get to the peak of his career in a foremost bank.

Having said that, it is therefore important to note some facts about his submission which I would summarized as follow:

1. It means the growth of bitcoin has reached to the point where they can no longer deny its existence and for it to have called the attention of a high echelon like him means its no longer a small deal.

2. They are actually scared of their own dominance and sees bitcoin dominance coming to stand as a threat to their own continued reign in the finance industry and the people generally and its better to discourage them now when it can still be influenced.

3. He has real facts even though sentimental, that bitcoin might not end well and he feels the obligation to inform the general populace afterall, he has made his point. But the comment that 'someone will die' removes the fact that he fail to acknowledge the amount of deaths he and his cohorts caused in 2008.

[newfix]

Maybe she say this because bitcoin and other altcoins are a digital currency, not like paper money or gold for example, and digital currencies dont have any guarantee...
Or maybe she say this because it is jealous of the success of bitcoin

[xx-man]

Why is everyone surprised? He is the CEO of one of the biggest banks in the world which is controlled by the elite of course. It's no secret that the bankers hate bitcoin but sadly for them, this is not going to change anything, bitcoin reached a stage where it can no longer be stopped.

it's clear that if he's a banker, he wants to degrade the popularity of Bitcoin in the community, but I do not think that's possible because Bitcoin is famous and they all invest in Bitcoin for their future development. So do not believe what he says is not true, because it's all a joke that is useless to listen to.

[steelhouse]

Be careful of headlines.

He said his daughter bought bitcoin.
It might go to $100,000 before it goes down.
The reason why it is a fraud, is governments like to form and control currencies.
They like to know who has it, where it is going.
China is closing down exchanges.
He says governments see it as a novelty. (What this means is like obamacare, they will vote it down 20 times, but when they get in power all of a sudden they can't kill it.  Too look cool to kids the USA government will say they support it, however if it ever becomes a threat it will be gone).
However, he asserts the USA government will close it down.
He says it is good to use in North Korea or Venezuela.

Fraud is something CNBC tried to make him say imho.  But it may have been on his twitter?  Or CNBCs twitter?

BTW, the USA used a foreign currency when it was young.  

BTW he said the said thing in January, 2016.

[willmsnow]

JPMorgan talking about bitcoin is a form of promotion imo. More people will know about btc.

[CryptoBeefy]

Hasn't this clown made statements like this before?

[steelhouse]

Hasn't this clown made statements like this before?

Jan 2016
https://youtu.be/hb3AWedkdwo

[magneto]

Okay this is crazy and I want to know the community's thoughts on this...

Here is a man (Jamie Dimon) who has spent his life at the center of some of the biggest scandals in the history of the world (banking, derivative trading, asset default swaps, etc.)... making claims that Bitcoin is a fraud.

He says "It's worse than tulip bulbs. It won't end well. Someone is going to get killed".

Is this surprising to anyone at all? The banking industry is MOST threatened by Cryptocurrency and this is only going to intensify as more and more people adopt Bitcoin and other cryptos. I'm alarmed at the arrogance and pure double-standard of these elite bankers. They can all go to hell as far as I'm concerned...

Here is the article if you want to read it yourself:
https://www.c[Suspicious link removed]m/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html

He has a clear conflict of interest.

He is a pro-central banker which means that he has every interests in seeing bitcoin fail and tumble to the ground. He seems to have no understanding of how bitcoin works though. "Someone will get killed"? This is ridiculous. Even if bitcoin falls to the ground, people can still make transactions on it and nobody will get killed

This does seem to be causing the latest panic dump, though. Not sure why everyone's taking him so seriously. Even though we are in a bubble right now long term btc will still be going up.

[Vendetta666]

It's just a show of people who want to harm the bitcoins. To break down the bitcoins. So do not believe it because it's just a propaganda. do not just believe.

[dillpicklechips]

Why is everyone surprised? He is the CEO of one of the biggest banks in the world which is controlled by the elite of course. It's no secret that the bankers hate bitcoin but sadly for them, this is not going to change anything, bitcoin reached a stage where it can no longer be stopped.

And I don't need to read that article since as we know that it will be focused on Bitcoin's bad side or supposed bad side which they didn't point out that US dollars are also used in financing terrorist, buying illegal drugs. The point of view should be to embrace it and form and form a special action force who specialize in tracing cybercrimes which cryptocurrencies are included also and stricter KYC. It is no different from fiat if we look at the bigger picture but closely then Bitcoin is much better.

[sotoshihero]

He has a clear conflict of interest.

He is a pro-central banker which means that he has every interests in seeing bitcoin fail and tumble to the ground. He seems to have no understanding of how bitcoin works though. "Someone will get killed"? This is ridiculous. Even if bitcoin falls to the ground, people can still make transactions on it and nobody will get killed

This does seem to be causing the latest panic dump, though. Not sure why everyone's taking him so seriously. Even though we are in a bubble right now long term btc will still be going up.

Indeed, since his business is in financial instrument,investment and lending. It will be much affected by bitcoin per se and as a pro banker then its very opposite to bitcoin. He is promoting his interest here in my opinion.

[magneto]

He has a clear conflict of interest.

He is a pro-central banker which means that he has every interests in seeing bitcoin fail and tumble to the ground. He seems to have no understanding of how bitcoin works though. "Someone will get killed"? This is ridiculous. Even if bitcoin falls to the ground, people can still make transactions on it and nobody will get killed

This does seem to be causing the latest panic dump, though. Not sure why everyone's taking him so seriously. Even though we are in a bubble right now long term btc will still be going up.

Indeed, since his business is in financial instrument,investment and lending. It will be much affected by bitcoin per se and as a pro banker then its very opposite to bitcoin. He is promoting his interest here in my opinion.

Exactly what i mean...

As i have said:

- This has absolutely no proof to back it up
- He has interest in seeing bitcoin fail and bitcoiners panic, because bitcoin is a direct competitor of big banks and central banks.
- Even if bitcoin does drop, it's not surprising. The price of bitcoin is in a bubble. However it does not mean that bitcoin is a fraud.

He probably holds some short positions for bitcoin as well, because he knows he can use his influence to cause a major stir in media that temporarily causes a dump in the bitcoin community.