JP Morgan CEO Jamie -says "BTC is worse than Tulip Bubble" calls it a fraud

[universalresonance]

lol

Regulars must have read the news? - what are your thoughts? lol https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin

Btw Blythe Masters was trying to bring Wall Street into Blockchain and then there is this dude slamming BTC.

Argument I keep hearing are "terrorist use it" "money laundering" - if that's the case ,terrorists also used airplane, let's ban air travel - they also use cash ,let's ban cash altogether (yes, there is a war on cash) , they use guns , let's ban guns. However, gun industry (defense sector) and airlines have massive pockets.

I feel like all this is happening because right now banks can't find a way to charge for each transaction hence-one way or the other trying to throw dirt on it.

However, what do I know. I'm a newbie.

[Whiplash Wally]

Traditional bankers are getting scared. And they have good reason to be.

[layoutph]

Yes that's the truth, bankers are so scared that Bitcoin may ruin their currency? Bitcoin has already tapped the 5k mark and still a fraud?

[Cozy]

This comes from a guy that was partially responsible for the 2008 crash, got billions in bailouts for his broke bank, and continues to paint rosie pictures for people to invest with him in his worthless fiat and securities. He must be worried about bitcoin and crypto all the better i think. Jamie your the fraud.

[AtheistAKASaneBrain]

lol

Regulars must have read the news? - what are your thoughts? lol https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin

Btw Blythe Masters was trying to bring Wall Street into Blockchain and then there is this dude slamming BTC.

Argument I keep hearing are "terrorist use it" "money laundering" - if that's the case ,terrorists also used airplane, let's ban air travel - they also use cash ,let's ban cash altogether (yes, there is a war on cash) , they use guns , let's ban guns. However, gun industry (defense sector) and airlines have massive pockets.

I feel like all this is happening because right now banks can't find a way to charge for each transaction hence-one way or the other trying to throw dirt on it.

However, what do I know. I'm a newbie.

Jamie Dimon is one of the biggest banksters out there making billions doing what exactly? does he even work? he just sits all day and gives some speech here and there invited in panels. What the hell else does he do?

Anyway, he knows that Bitcoin challenges the status quo and he would lose the scam/system that allows him to live a comfortable, lavish lifestyle, since crypto would render banks useless.

And he also hates that he didn't buy Bitcoin early on of course. I've been hearing this guy for years now saying how Bitcoin is dead.

[agatha818]

because bankers considers bitcoin as a threat.

[PMmesexycoins]

He does see benefits in adopting the blockchain at least.

Anyway, he knows that Bitcoin challenges the status quo and he would lose the scam/system that allows him to live a comfortable, lavish lifestyle, since crypto would render banks useless.

No idea why people keep saying stuff like this. No matter what people trade with, these people would stay filthy rich. They might not be influential in the way they are now, but I don't see why their lifestyles would need to change much.

[Sharma]

lol

Regulars must have read the news? - what are your thoughts? lol https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin

Btw Blythe Masters was trying to bring Wall Street into Blockchain and then there is this dude slamming BTC.

Argument I keep hearing are "terrorist use it" "money laundering" - if that's the case ,terrorists also used airplane, let's ban air travel - they also use cash ,let's ban cash altogether (yes, there is a war on cash) , they use guns , let's ban guns. However, gun industry (defense sector) and airlines have massive pockets.

I feel like all this is happening because right now banks can't find a way to charge for each transaction hence-one way or the other trying to throw dirt on it.

However, what do I know. I'm a newbie.

Who the hell Jamie is to decide what bitcoin is? As long as we keep supprting bitcoin, there is nothing that can kill it.
Everyone is entitled to his opinion but we should make our own decision abou our financial decision.

[simster]

Maybe he will change his opinion once he makes his homework like this guy.

Only people with no idea of how this system is groundbreaking to the financial systems of the world can make a fool of themselves. He's only proving that he didn't understand it. It's awkward.

Blockchain technology will still be here when every data of JP Morgan has passed, it only needs computers to work. Nobody can erase it like his companys files.

Eventually it is not 'Bitcoin' beeing the real thing, but as long as there is no bigger/better, it is the future. Maybe he should ask someone who can explain it to him.

Or he just placed some shorts before...

[caldero]

People are too quick to dismiss his remarks cause it goes against what we believe in but the truth is really somewhere in the middle. Bitcoin and crypto in general is in a bubble growth phase and the clearest sign of that is when people so easily dismiss remarks of a crash coming in the future.

[simster]

Forget about the value for the moment, it's not the point. Even with half the value of now (or say a tenth) it's the future.

[iamTom123]

Argument I keep hearing are "terrorist use it" "money laundering" - if that's the case ,terrorists also used airplane, let's ban air travel - they also use cash ,let's ban cash altogether (yes, there is a war on cash) , they use guns , let's ban guns. However, gun industry (defense sector) and airlines have massive pockets.

This is the best argument that we can use against people who think that they know much better than Satoshi when it comes to Bitcoin. The idea that since some evil people are using Bitcoin then we should be limiting or banning the use of Bitcoin is one of the most foolish idea ever. It is not the fault of Bitcoin if there would be people to use for their own evil interest. Singling out Bitcoin of all the currencies used for frauds is not doing justice and is very unfair to say the least.

It is just sad that these people using those illogical arguments are actually also representing the selfish interests of their own industries (maybe they want to protect what they are representing here) that is why we have to be careful not to caught the same virus they have in their mindset.

Soon these people will realize that Bitcoin is unstoppable and is here to stay for good...they might even join the Bitcoin bandwagon silently and enjoy the profits they can get out of it.

[Atomicfear]

Immediately dismiss Dimon's remarks at your own risk. While I personally believe in the future of Bitcoin, Jamie Dimon isn't some random fat cat. He is considered one of the best bankers in the world for a reason.

[nofuture]

lol

Regulars must have read the news? - what are your thoughts? lol https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin

Btw Blythe Masters was trying to bring Wall Street into Blockchain and then there is this dude slamming BTC.

Argument I keep hearing are "terrorist use it" "money laundering" - if that's the case ,terrorists also used airplane, let's ban air travel - they also use cash ,let's ban cash altogether (yes, there is a war on cash) , they use guns , let's ban guns. However, gun industry (defense sector) and airlines have massive pockets.

I feel like all this is happening because right now banks can't find a way to charge for each transaction hence-one way or the other trying to throw dirt on it.

However, what do I know. I'm a newbie.

people use bitcoin not just for buy drug or money laundering. They need a good way to send money over worldwide. Any bank can't do that. Think about send money to UK. 10$ and 3 day wait for just 200$

[Sithara007]

people use bitcoin not just for buy drug or money laundering. They need a good way to send money over worldwide. Any bank can't do that. Think about send money to UK. 10$ and 3 day wait for just 200$

Do you think that Bitcoins are any better? A few weeks back, I remember paying the equivalent of $8.00 as the transaction fee. And also, I can remember waiting for 3-4 days for another transaction, where I paid a lower fee. I am not saying that the bank transfer or Western Union is any better. But Bitcoin is losing some of its advantages. 

[entrepmind23]

Do you think that Bitcoins are any better? A few weeks back, I remember paying the equivalent of $8.00 as the transaction fee. And also, I can remember waiting for 3-4 days for another transaction, where I paid a lower fee. I am not saying that the bank transfer or Western Union is any better. But Bitcoin is losing some of its advantages. 

Bitcoin's transaction fee has become a disadvantage instead of an advantage. Before, it is one of the ways of the people to send their money without paying that much transaction fee but then transaction fees are slowly becoming higher thus some are coming back to what they used to do before. I hope that transaction fee would be lower and I know that there is an option to pay a lower transaction fee but it would take much time than paying the normal fee.

About the CEO, he does not see yet the importance of bitcoin and how it can be the future technology but maybe he is just afraid of what will happen to his business once the new technology takes over. He should just do something to innovate and not being the one who will contradict the technology because maybe later on, he will just regret it.

[Red-Apple]

this is not the first person to attack bitcoin like this and it will not be the last. the decentralized cryptocurrency does not care what random people say. it is what the majority thinks that sets their pace.

Argument I keep hearing are "terrorist use it" "money laundering" - if that's the case ,terrorists also used airplane, let's ban air travel - they also use cash ,let's ban cash altogether (yes, there is a war on cash) , they use guns , let's ban guns. However, gun industry (defense sector) and airlines have massive pockets.

no, lets ban USD, because by this definition USD is THE fraud since all the terrorists use it!

[Netnox]

About the CEO, he does not see yet the importance of bitcoin and how it can be the future technology but maybe he is just afraid of what will happen to his business once the new technology takes over. He should just do something to innovate and not being the one who will contradict the technology because maybe later on, he will just regret it.

He understands the importance of crypto-currency. But he is not that stupid to support it. He is fully aware that Bitcoin can emerge as a competitor for the big bankers. So he is engaging in negative propaganda campaigns, in order to scare normal people away from Bitcoin. These bankers want to take your money and make the investment on your behalf (but they will chose which asset to invest).

[Agozyen]

Jamie Dimon is a moron.  He's a Star Trek fan trying to talk shit at a Star Wars convention (or the other way around I like both!).  He is saying this to prevent his investors from getting nervous and looking in our direction.  He sees the writing on the wall but would rather see Crypto fail  rather than embrace it.  Crypto Market Cap is $150B right now.  This will double, triple and so on. Most of this money comes from Wall St.  He is afraid.

[Krom1985]

My favourite part from the Reuters article reporting on the same thing:

"The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart."

Unless you're the Federal Reserve serving the banks, right Jamie?!

What a hypocritical cunt! An analogy about a pot and a kettle springs to mind.