[13-09-2017] SMH JPMorgan's Dimon says bitcoin 'is a fraud'

[jubalix]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

[1713885074]

1713885074

[colealbon]

JP Morgan traders would by definition be trading with borrowed money.  Versus the unleveraged bitcoin early adopter honey badger traders,  the leveraged trader would almost certainly get wiped out.  So yes, JP Morgan traders who trade bitcoin should be fired.

[aso118]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

Ha ha. They have a very good idea about how Bitcoin works and how banks work. It is in their interest to keep up the fud and scare common people away from Bitcoin. I see no other reason why statements like this should be made.

[iamTom123]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

Ha ha. They have a very good idea about how Bitcoin works and how banks work. It is in their interest to keep up the fud and scare common people away from Bitcoin. I see no other reason why statements like this should be made.

That guy is just looking for some attention and since Bitcoin is relatively new any statement like that and when coming from a trader of a good bank will certainly attract some space and attention. But the big question is this: How authoritative he is on Bitcoin? It has been a fashionable these days to talk about Bitcoin and then say anything about it even if the knowledge the person got is just some dust lying around (and ready to be blown away).

We should be listening with people who got the knowledge and the expertise on Bitcoin and not just another guy waving his hands as if lacking some attention. Now, that he got the attention he needed, I am sure it is time for him to just shut up and do whatever job assigned to him. Not even the whole of China can stop Bitcoin...that we should remember and this guy is just nothing. This is not a personal attack though since I was not privileged to know him on that level.

[jubalix]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

Ha ha. They have a very good idea about how Bitcoin works and how banks work. It is in their interest to keep up the fud and scare common people away from Bitcoin. I see no other reason why statements like this should be made.

That guy is just looking for some attention and since Bitcoin is relatively new any statement like that and when coming from a trader of a good bank will certainly attract some space and attention. But the big question is this: How authoritative he is on Bitcoin? It has been a fashionable these days to talk about Bitcoin and then say anything about it even if the knowledge the person got is just some dust lying around (and ready to be blown away).

We should be listening with people who got the knowledge and the expertise on Bitcoin and not just another guy waving his hands as if lacking some attention. Now, that he got the attention he needed, I am sure it is time for him to just shut up and do whatever job assigned to him. Not even the whole of China can stop Bitcoin...that we should remember and this guy is just nothing. This is not a personal attack though since I was not privileged to know him on that level.

I am not takeing anything he says as authoritative, I am just amazed at the depth of his ignorance in all dimensions, asymptotically approaching infinity.

[I hope they read this one out in his offices on Friday.]


I mean do they even bother to read the white paper, do they know what the Byzantines generals problem is? Do they understand even a fraction of the implications of a decentralized ledger, and why old corporate structures cannot make blockchain work en masse (hint no one would trust their money with them). Do they realise what happens when you can instantiate a good part of government, law and the financial sector into code with no central actor needed? Can they not see their functions will be arbitraged to near zero.

With his sort of ideas JP is going out of business within a few years as their zimbUSD goes to zero an BTC goes the 1M each, and everyone will only accept it a hard payment.

[Karartma1]

JP Morgan calls bitcoin a fraud while investing millions of dollars in "blockchain technology" which means nothing! Therefore, in a logical world, it looks like they are investing into a fraud.
These are all coordinated attempts of discrediting bitcoin at the same time. Bitcoin, as it is, is getting too much attention and this goes well against their interest. Whatever the reason, they keep investing into "blockchain".
Ridiculous

[aso118]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

Ha ha. They have a very good idea about how Bitcoin works and how banks work. It is in their interest to keep up the fud and scare common people away from Bitcoin. I see no other reason why statements like this should be made.

That guy is just looking for some attention and since Bitcoin is relatively new any statement like that and when coming from a trader of a good bank will certainly attract some space and attention. But the big question is this: How authoritative he is on Bitcoin? It has been a fashionable these days to talk about Bitcoin and then say anything about it even if the knowledge the person got is just some dust lying around (and ready to be blown away).

We should be listening with people who got the knowledge and the expertise on Bitcoin and not just another guy waving his hands as if lacking some attention. Now, that he got the attention he needed, I am sure it is time for him to just shut up and do whatever job assigned to him. Not even the whole of China can stop Bitcoin...that we should remember and this guy is just nothing. This is not a personal attack though since I was not privileged to know him on that level.

Jamie Dimon is big in the world of finance. He doesn't need to trash talk Bitcoin and grab the headlines. He has also sounded a warning to his employees. They would be fired if they got involved in trading Bitcoin, not just because it is against the rules but because they are stupid.

[Kakmakr]

They call Bitcoin a fraud? Then would they care to explain this? http://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase

"People in glass houses, should not throw stones." We know all about JP Morgan's fraudulent history and how Jamie Dimon's salary is paid. They even got tax payers money to bail them out, when they nearly helped to cause a global economic collapse.

We know who the real fraudster are and they never got jail time for that. ^hmmmmmm^

 

[Kemarit]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

Ha ha. They have a very good idea about how Bitcoin works and how banks work. It is in their interest to keep up the fud and scare common people away from Bitcoin. I see no other reason why statements like this should be made.

That guy is just looking for some attention and since Bitcoin is relatively new any statement like that and when coming from a trader of a good bank will certainly attract some space and attention. But the big question is this: How authoritative he is on Bitcoin? It has been a fashionable these days to talk about Bitcoin and then say anything about it even if the knowledge the person got is just some dust lying around (and ready to be blown away).

We should be listening with people who got the knowledge and the expertise on Bitcoin and not just another guy waving his hands as if lacking some attention. Now, that he got the attention he needed, I am sure it is time for him to just shut up and do whatever job assigned to him. Not even the whole of China can stop Bitcoin...that we should remember and this guy is just nothing. This is not a personal attack though since I was not privileged to know him on that level.

Jamie Dimon is big in the world of finance. He doesn't need to trash talk Bitcoin and grab the headlines. He has also sounded a warning to his employees. They would be fired if they got involved in trading Bitcoin, not just because it is against the rules but because they are stupid.

Agreed. He has somewhat a 'authority' in the financial world. I don't know if this article has somewhat impact again the price of bitcoin today as it is going down to $3900. And the timing of all of this is really bad. Looks like everyone is waging a war against bitcoin. LOL. Its good though, at least you have a good buying opportunity again. Let China dump their coins so that new investors who truly thinks that bitcoin has a bright future could go in and buy big amounts. We will see at the end who is the real fraud here. And let's wait and see what would be the next thing they gonna say if bitcoin recovered once again pushing the price to $5000 in the future.

[Carlton Banks]

They call Bitcoin a fraud? Then would they care to explain this? http://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase

"People in glass houses, should not throw stones." We know all about JP Morgan's fraudulent history and how Jamie Dimon's salary is paid. They even got tax payers money to bail them out, when they nearly helped to cause a global economic collapse.

We know who the real fraudster are and they never got jail time for that. ^hmmmmmm^

 

Not to mention, Dimon knows better than anyone the extent to which Federal Reserve money printing constitutes JPMorgan's trading profits (how much of JP Morgan's revenue comes from fed dollar printing, period?)


Dimon is afraid. Him and the world's fake capitalists, underwritten by government gangsterism, are becoming increasingly aware that real capitalism is coming, against which him and his cronies will be unable to compete. It's like a baby spitting out it's quantitative easing dummy and crying.

[jubalix]

http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html


but he won't short it! because it could go to 20K, but he could still wait it out an let it go to zero.

the banks/fin industry/ are really running scared

Also a banker/fin ceo that does no understand the banking system actually does create money out of think air?

how can these people get to these positions and have no idea about fractional reserve banking and debt instruments?

Ha ha. They have a very good idea about how Bitcoin works and how banks work. It is in their interest to keep up the fud and scare common people away from Bitcoin. I see no other reason why statements like this should be made.

That guy is just looking for some attention and since Bitcoin is relatively new any statement like that and when coming from a trader of a good bank will certainly attract some space and attention. But the big question is this: How authoritative he is on Bitcoin? It has been a fashionable these days to talk about Bitcoin and then say anything about it even if the knowledge the person got is just some dust lying around (and ready to be blown away).

We should be listening with people who got the knowledge and the expertise on Bitcoin and not just another guy waving his hands as if lacking some attention. Now, that he got the attention he needed, I am sure it is time for him to just shut up and do whatever job assigned to him. Not even the whole of China can stop Bitcoin...that we should remember and this guy is just nothing. This is not a personal attack though since I was not privileged to know him on that level.

Jamie Dimon is big in the world of finance. He doesn't need to trash talk Bitcoin and grab the headlines. He has also sounded a warning to his employees. They would be fired if they got involved in trading Bitcoin, not just because it is against the rules but because they are stupid.

If Jamie Dimon "big in the world of finance" that's a cutting indictment on the world of finance. I mean how can he not know that fiat is always made out of thin air, and in fact via QE /FRB that's exactly what is going on.

He demonstrates a total lack of understanding of money creation.

Then again he probably can't wrap his head around the fact that no one ever made money in the stock market, your just swapping around amounts already in the fiat ledgers.

Anyway...I have never heard of him, but I will tell you someone I have heard of ..... satoshi (who by the way by the shear force of his ideas) had his product had evaluated 1~2 million times or more since launch. which is .... 100, 000,000 % +. I would love to see Dimon's returns on his products as a ratio to bitcoin evaluation. I wonder if Dimons would even register?

Here's a shout out to you Mr. Dimon, See you at 21T market cap, by which time your entire organization will be loose change for satoshi to buy

[Aventhe]

Quite sadly, there will always be people who just hate bitcoin and cryptocurrencies altogether. There is just nothing that can be done about that.

JP and their gang is just full of BS, filled to the brink. They are the real criminals of this world, and not the people serving time in jail right now (while they are still very much criminals and they deserve to spend time there for their wrong deeds.) I just wonder till how long Dimon can continue, destroying many people's lives and livelihoods in the process of doing so. Why would they not be afraid of bitcoin? All bitcoin does is provide a currency that belongs to the people, and not a single person or group of people. For people like Dimon this is complete doom.

They call Bitcoin a fraud? Then would they care to explain this? http://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase

"People in glass houses, should not throw stones." We know all about JP Morgan's fraudulent history and how Jamie Dimon's salary is paid. They even got tax payers money to bail them out, when they nearly helped to cause a global economic collapse.

We know who the real fraudster are and they never got jail time for that. ^hmmmmmm^

 

Not to mention, Dimon knows better than anyone the extent to which Federal Reserve money printing constitutes JPMorgan's trading profits (how much of JP Morgan's revenue comes from fed dollar printing, period?)


Dimon is afraid. Him and the world's fake capitalists, underwritten by government gangsterism, are becoming increasingly aware that real capitalism is coming, against which him and his cronies will be unable to compete. It's like a baby spitting out it's quantitative easing dummy and crying.

I completely agree with what you have to say. This whole fake capitalistic society is just doomed to collapse.

[SvenBomvolen]

Simon has said that even his dauther bought bitcoin 
He is a big person and I can understand why his position to bitcoin moved the price to go even more lower and now we see 3800$. People listen such people and it's normal. In any case I don't plan to give up about bitcoin and sell my founds and activity with it. While bitcoin is bringing me money and I have to mention that it's good money, I willbe here and I will earn more bitcoins.