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

[MostHigh]

Coming from a banker am not surprised but he made some pretty important points there. Am inclined to believe until scam is dealt with properly in crypto a few scams will have the benefits while the majority of the people suffer. All the same, as i said, he is a banker and he will be incline to the school of thought that will sustain his world

[timerland]

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 think the primary motivation for her to even post anything like that is the fact that a)he is a central banker and b)he missed out on lots of profits when btc went from $400 or less to $4000+ in less than a year, when his daughter bought bitcoin and profited from it.

My Daughter Bought Bitcoin. It Went Up, Now She Thinks She Is A Genius

She is a genius for being open minded and exploring bitcoin. Unlike her dad, ofc.

Now he could potentially be holding significant bitcoin short pos. that is prompting him to say things like this, or he just is scared of bitcoin taking over banks.

[Yuuto]

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

This seems like the cause for the drop in price as well, we were doing pretty well and then Mr. Dimon came along as spread rumours that bitcoin is a fraud or whatnot. Now we are under $4000. People seem to be taking him too seriously, i guess.

First of all he does have a conflict of interest. He is the goddamn CEO of one of the largest banks in the world, and is deeply involved with central banking and politics. What do you expect? Him to love bitcoin?

Secondly, it is obvious that bitcoin is not a fraud. People pumping the price of bitcoin up to a bubble is true, but bitcoin itself is decentralized, and it can't be a fraud as nobody can abuse the power to 'print' as much bitcoin as they want to.

Sort of ironic if you think about it... Him calling BTC a fraud and not caring about the biggest fraud out there called fiat currency.

[The One]

"Someone will get killed"

How about bankers funding wars that killed millions. He's having a laugh right?

[Mad_Machine]

All these recent news from September just confirms we are on the right path here.
Streisand effect all over!
BTC

[RodeoX]

Scared yet Jamie?

Muahahaha, we are coming to rob your corrupt banks of their customers.

[yishak]

Well he is a top banker so it doesn't surprise me that he said this.
But I didn't understand what he meant by saying "Somebody is going to get killed"...? What is that supposed to mean?

[shezu007]

Bitcoin is not fraud actually that person is fraud who are saying that bitcoin is fraud. Because that person not having knowledge about market and about bitcoin that's why he is saying like that.

[salmanahmedone]

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

We should ignore this guy.  Not only Jamie Dimon there's a lot of people who don't want bitcoin to grow. As we all know he is a CEO of biggest bank and most of banks don't accept bitcoins. But his word can't change world and our mind. Bitcoins are growing day by day and it will never stopped. This is our belief.

[carlisle1]

what do we expect coming from our nemesis I guess they are feeling now the effect of this system and its really threatening them so with his wordings
what would be the impact though its seems that panic sellers begin to sell their holdings and with whales from china also playing we are on our downfall
and we are expecting more to come.

[RodeoX]

The funny thing is that J.P. Morgan are actual scamers.

https://www.forbes.com/sites/kotlikoff/2016/03/18/jp-morgan-chase-the-true-story-of-americas-most-corrupt-bank/#57d562f743cf

http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106

https://popularresistance.org/jp-morgan-chase-sued-for-debt-fraud/

http://www.bbc.com/news/business-25641476

https://boingboing.net/2017/09/07/too-big-to-jail.html

http://www.oregonlive.com/business/index.ssf/2013/07/jury_finds_against_jpmorgan_ch.html

https://politicalvelcraft.org/2017/04/21/court-rules-jp-morgan-to-stand-trial-for-silver-market-rigging/

I guess he thinks it's a fraud because all these little people are getting rich and he's not getting a cut?







 

[krafa]

Hello,

Bitcoin is a virtual currency using cryptography as its security process.
Use of cryptocurrency frees people from going to banks and transactions cam be made sitting in home.
Thus it is being possible to doing business with foreign countries with nearly zero transaction cost.

[cryptocamacho]

...and here is John McAfee putting some sense into Mr. Dimon. From one nut to the other... at least McAfee sees through the BS and correctly calls out Bitcoin for what it is.

What do you think John is up to in the long-run? This man is smart and known for some erratic behavior... but also for creating wealth.

What if if John McAfee is Satoshi!? Come on now... that's just rediculous, but feasible?


Here is the link to the article:

https://www.c[Suspicious link removed]m/2017/09/13/john-mcafee-challenges-jamie-dimon-bitcoin-skepticism.html

[pushups44]

Let's not forget that JPMorgan Chase had its own banking bubble and needed to be bailed out along with other major banks in 2008. This is the pot calling the kettle black. In any case, Jamie Dimon's words should not be met with hostility, since he is potentially creating opportunities to buy for new investors to bitcoin and other cryptocurrencies.

[Maheshkumar_Hrangkhawl]

"Someone will get killed"

How about bankers funding wars that killed millions. He's having a laugh right?

Bankers have ruined the lives of millions of people. They have enslaved hundreds of millions around the world, who are living in a state of complete financial dependency due to the burden of monthly mortgage payments.

[cryptocamacho]

Let's not forget that JPMorgan Chase had its own banking bubble and needed to be bailed out along with other major banks in 2008. This is the pot calling the kettle black. In any case, Jamie Dimon's words should not be met with hostility, since he is potentially creating opportunities to buy for new investors to bitcoin and other cryptocurrencies.

This is a very good point... His words, though harsh, are creating buying opportunities for Bitcoin as we speak. The panics and price drops of bitcoin are incredible opportunities to buy...

Study base trading and position trading and you'll see that news like this is always a buy opportunity. The price cracks the previous support base and then blow up (upwards) because of support to buy at the low price.

This is how I trade all day and so I'm delighted at the news from this manipulating D bag.

Who else is buying on this dip!?

[guillzini]

Let's not forget that JPMorgan Chase had its own banking bubble and needed to be bailed out along with other major banks in 2008. This is the pot calling the kettle black. In any case, Jamie Dimon's words should not be met with hostility, since he is potentially creating opportunities to buy for new investors to bitcoin and other cryptocurrencies.

This is a very good point... His words, though harsh, are creating buying opportunities for Bitcoin as we speak. The panics and price drops of bitcoin are incredible opportunities to buy...

Study base trading and position trading and you'll see that news like this is always a buy opportunity. The price cracks the previous support base and then blow up (upwards) because of support to buy at the low price.

This is how I trade all day and so I'm delighted at the news from this manipulating D bag.

Who else is buying on this dip!?

Def buying in on the dip this time. I missed out on the dip before the fork and I'm looking to correct that mistake this time

I already bought some, but it kept dropping, so I'm waiting a bit longer to see where it goes from here. When do you think is the best time to jump back in?

[Maheshkumar_Hrangkhawl]

Def buying in on the dip this time. I missed out on the dip before the fork and I'm looking to correct that mistake this time

I already bought some, but it kept dropping, so I'm waiting a bit longer to see where it goes from here. When do you think is the best time to jump back in?

If the Chinese exchanges are closing down for real, then my opinion is that you should wait until the situation gets clear. Because almost the same thing happened in 2013 December as well. And if I remember correctly, the prices continued to drop for almost 3 years. The upward journey only began in 2016 (due to the block reward halving).

[Razick]

When big players in the finance industry denounce something as fraud, chances are they are actually only doing so to cause FUD, lower the price and buy cheap coins. That is the point of trading. It is exactly what China is doing right now. Creating massive unrest and uncertainty, and buying up all of the cheap coins that are being sold as a result.

[EllaPonchik]

Perhaps this is fraud, but while someone can make money on this, I think it's worth using this opportunity