What is this? JP Morgan Quorum

[Sadlife]

The thing is about this guy is that he doesn't anything thing about cryptocurrency or maybe just a gold, fiat currency or whatever centralized asset that he invested. He clearly see's that bitcoin is a threat to their centralized that's why he is making some baseless statements that clearly has lack of knowledge about bitcoin. According to him bitcoin will fail or turn into a scam back in 2014 when bitcoin was still around $400 so look where it gotten now. The price value has already reach $4000-5000. One thing is for sure bitcoin is the future of money.

[FJNuñez]

I think not all ICO is equal. but such as BAT, CVC, ZCASH and so on have strong team to pursue their coins. Even some inferior could develop better one in the future. I do not know every ICO is bad.

90% are pump and dumps but some have good use cases and good dev teams that dedicate their free time to it before it takes off and that is special.

[getreal]

Bitcoin and any other coin have no technical problems because they are standing on the blockchain. Vitalik or any other people who thought they could create an official currency using these blockchain application, is an extremely immature in the real world affairs. Again, technology is not the problem here. And that's why you don't see much criticism.

Problem is in designing the real world interactions which includes and banks and governments. These coins assume that they can exclude banks and governments. That's where the problem lies. You see, people need gov. Gov needs taxes to operate. Taxes need tracking of money. Also gov needs to control crime which also requires tracking of payments. The coin cult ignores all this. These are hippies or simply hackers who are happy with anonymity, pseudo innovation, the technical soundness of the coins and pulled the greedy investors by talking about tech of the blockchain.

You are seeing the result.

This is the problem with the bitcoiners. None, none of the folks who commented on thread knew that blockchain and crypto coins are different things. Blockchain is great, crypto currency is bad, very bad. Such ignorant investors.

Quorum is business blockchain. Most business blockchain have no coins. They don't need coins or mining.

BTC was sold by talking about the greatness of blockchain. There are many application that run on blockchains. Some good some very bad. BTC is is VERY BAD application built on the good technology of blockchain. Many ICOs fall into this VERY BAD category.

In other words, blockchain is like the Android or Windows on your phone or device. Bitcoin is a malicious app built on that platform.

Now, folks please get out of hangover of "blockchain s great and so is bitcoin". They are entirely different.

JP Morgan Quorum is perfectly valid for their business case. It has nothing to do with any other silly coins.

But I do not know why bitcoin is bad and perhaps ethereum, iota, neo,  eos and so on. Aren't they smarter than them? What assumption you think they are bad silly coin? if it really bad, technological inferior, many developers could already criticize it. but I hear a lot of praise for ethereum from smartest people in the blockchain technology? give me some proof why this decentralized systems are silly. I want get educated.

I heard Vitalik is one of the smartest guy in this field. Even for him, ethereum has some issues. Then, what did make except the hard fork? I don't get it if they are not the originator like satoshi nakamoto.

[chesegrinder]

Dimon are to hard to bitcoin and other cryptocurrency he also incorporate it in the event happen on Europe where they say the Dutch golden age "tulip bulb" where the price of tulip are soaring high that even a poor wants to buy it until its price up in the sky and suddenly people realize that it don't have purpose and useless and then people buy out and sell all there tulip until the economic market of it collapse, this is what DIMON says and will going to the path of every bitcoin and crypto currency holder and investor, how pathetic that he creating their on crypto. Dimon is one of the influential person in Financial economic market and also in Wall street, any many bitcoiner believes in him, but he underestimate the power of internet and bitcoin that he don't know that in the wall street their many prominent person investing and holding also creating their own crypto.

[geniabelty]

the article from coindesk clearly says " he said that the cryptocurrency would "not survive" back in November 2015 when the price was fluctuating around the $400 level."
"Dimon later added that the cryptocurrency "will blow up," according to CNBC. It was also during that appearance that said that he would terminate any trader that he found to be trading bitcoin for being "stupid."" from coindesk article.

He pointed cryptocurrency not just bitcoin. Then my assertion is why he created his own version of crypto.. it is self denial.

That's why the CEO of JP Morgan publicly state that Cryptocurrencies. It's a form marketing strategy, once all other Cryptos are demolished it's a good time for Him to release his own Cryptocurrency the one that they can control and manipulate. JP Morgan is attacking the emotions of all the investors so that the will sell all their Bitcoin, that's why it contributes to the decreasing value of it.

[HabBear]

I thought JP Morgan Chase CEO hates Cryptocurrency and bitcoin is  'fraud'. What is this?

Kodan, you need to actually read the articles and statements from Jamie Dimon. He thinks Bitcoin is a fraud. He thinks Blockchain technology has a promising future. Bitcoin and Blockchain are different things, so he's not contradicting himself when he makes these statements.

His support for the Blockchain also explains their Quorom entity. It's meant to capitalize on the Blockchain technology.

Other questions?

[kodanshakang4]

I thought JP Morgan Chase CEO hates Cryptocurrency and bitcoin is  'fraud'. What is this?

Kodan, you need to actually read the articles and statements from Jamie Dimon. He thinks Bitcoin is a fraud. He thinks Blockchain technology has a promising future. Bitcoin and Blockchain are different things, so he's not contradicting himself when he makes these statements.

His support for the Blockchain also explains their Quorom entity. It's meant to capitalize on the Blockchain technology.

Other questions?

That is good to know. So, he does not against the blockchain technology. But he is against bitcoin. Does he against all the blockchain based cryptocurrency or particularly bitcoin. I am confused.

[athanz88]

i've read the article about what he said, and i thought he is afraid now that cryptocurrency is rising even more. Sometimes people really going a bad way to make other people or things looks bad just to make his own things accepted by oyher people. And sadly, bitcoin price went down because his foolish statement.

[crismass1225]

JP Morgan are making a statement about bitcoin that it will blown up "FRAUD" that suddenly it will collapse but i hear that he and his team creating their own crypto, which is lame. Every one around him in the wall street are adopting crypto currency and also investing on it somes are making their own coin. But it was a huge factor in terms of bitcoin price where many people believe in him regarding financial aspect thats why many of us selling their bitcoin. he knows that bitcoin is a threat in their business thats why she was attack cryptocurrency and bitcoin.

[razzbee]

As the saying goes, if you cant beat them, join them...

[ncBB]

what a joke, can we mine quorum? I wanna mine and dump but not bump, hahaha.

[sakanaNoObake]

This is the problem with the bitcoiners. None, none of the folks who commented on thread knew that blockchain and crypto coins are different things. Blockchain is great, crypto currency is bad, very bad. Such ignorant investors.

Quorum is business blockchain. Most business blockchain have no coins. They don't need coins or mining.

BTC was sold by talking about the greatness of blockchain. There are many application that run on blockchains. Some good some very bad. BTC is is VERY BAD application built on the good technology of blockchain. Many ICOs fall into this VERY BAD category.

In other words, blockchain is like the Android or Windows on your phone or device. Bitcoin is a malicious app built on that platform.

Now, folks please get out of hangover of "blockchain s great and so is bitcoin". They are entirely different.

JP Morgan Quorum is perfectly valid for their business case. It has nothing to do with any other silly coins.

Yes. Bitcoin and blockchain isn't the samething. Bitcoin is a cryptocurrency built on top of blockchain technology.
Although we are seeing blockchain technology being mainly used for Cryptocurrencies now (which I am not saying is a bad thing), you can actually make a lot of different kinds of applications on top of them.
 
However I think enterprises wanting to make applications on top of blockchain technology would really not want to make it on top of public blockchains like Etherium.
That is where private blockchains like Hyperledger fabric and Quorum are coming in.

For instance, companies who might be wanting to use blockchain apps to help then on their research on genetic engineering or sth would probably make an app on top of private networks like Hyperledger fabric or Quorum. In cases like these there are no need for cryptocurrencies.

Personally I feel the markets for Bitcoin and Quorum are quite different.

[Donald Regoo]

of course Bitcoin. Although there are now some altcoin accepted for payment but the number is very small and it is only accepted in a few places. Bitcoin is accepted for transaction and payment in many places, many firms, small / big shops.

[bitfocus]

I don't believe that that JP Morgan stunt will do any good, already people know about their dirty tricks to manipulate Crypto Market.

[soltantgris]

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

https://www.coindesk.com/jamie-dimon-bitcoin-fraud/

I thought JP Morgan Chase CEO hates Cryptocurrency and bitcoin is  'fraud'. What is this?

This is an example of changed mind, when the person was thinking about cryptocurrency negatively and then they are trying to eat you their own one, but I don't think that people will trust the Man who was speaking negatively and then have changed his mind.

[royalfestus]

Reading through the thread gives the idea of the reason of the negative news from JP morgan on his notion possible outcome of the ETF next year. It almost got me worried but that seem to be the only bad news have heard on ETF decision.

[zitbau]

I really do not care about JPMorgan's opinion. Negative assessments of bitcoin and underestimation of future bitcoin development. Actually bitcoin is developing very well.