Truth behind JP Morgan's CEO comment about Bitcoin

[affigne]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject.

Hope I can count on you guys for this.

So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well.

Let me know your opinion on the matter.

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[CryptoBry]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject. Hope I can count on you guys for this. So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well. Let me know your opinion on the matter.

I am voting for the fact that he is just plain ignorant about Bitcoin and that he is just bluffing Bitcoin so the value can possibly go low and they can buy cheaper. Though we have to accept it that it is difficult to determine how much influence were his words against Bitcoin because at the same time he said those words news from China started to trickled in.

[affigne]

actually and iirc, there was a moment just after his comment where btc value dropped quickly, so it's probably that he had some influence. Although the deep dive in general was beacuse of China's movement against cryptocurrencies.

[Sadsong]

Think he chose a good moment to kick bitcoin with the Chinese exchange issue in play and it was calculated to the extent that he wanted to see disruption in value.
Most financial arms of decent size have been working on cryptocurrency of their own behind closed doors and I think we will see multiple groups kicking bitcoin in the future so they can launch a similar product that they control.

Just my theory as I do not see them doing this to manipulate the price to buy more.

[NorrisK]

Number 1 for sure.

All he wants is to slow down the momentum that bitcoin and crypto was gaining to give them more time to adjust to the future.

[Pab]

I chosed who care,click ignore,raport to moderator Diamond is simply trolling

[amishmanish]

Definitely No. 1
The last thing these present-day wizards of financial dealings want is to have people become independent of the cycle of debt and servitude that currency perpetuates. Having control over currency has worked really well for these money printers. Owning and minting currencies ensures that they get there ''cut'' in every transaction when an exchange of service/ goods happen. Bitcoin and the concept of ICOs, directly threatens that.
They'll do everything in their power to discredit it..

[Ucy]

Afraid of Bitcoin capabilities most likely reason... there could be other possibe reasons though.
I think he was the one who suggested a controlled Blockchain with Master key few months ago.

[Pettuh4]

Afraid of Bitcoin capabilities most likely reason... there could be other possibe reasons though.
I think he was the one who suggested a controlled Blockchain with Master key few months ago.

That guy has an ulterior motive against Bitcoin and we shouldn't make him a hero by discussing him. He sure has evil reasons which he exclusively knows will inure to his benefit.

[Laergan]

Jamie Dimon is a very smart man. He has to be. And smart men know the consequences of their actions and the influence that his words have on markets around the world. He had to know that his negativity on Bitcoin would lead to a price drop. And if he didn't view Bitcoin as a threat, why bother commenting on it, especially with such bitterness that he would fire any banker supporting the coin. He knew what he was doing, and he knew that he was going to make a profit on the dump.

[finthebar]

Jamie Dimon is a very smart man. He has to be. And smart men know the consequences of their actions and the influence that his words have on markets around the world. He had to know that his negativity on Bitcoin would lead to a price drop. And if he didn't view Bitcoin as a threat, why bother commenting on it, especially with such bitterness that he would fire any banker supporting the coin. He knew what he was doing, and he knew that he was going to make a profit on the dump.

Short version = Who knows?

Longer version =
I agree that Jamie is a smart man, he would not be where he is today without lots of smarts, however, he has spent a lifetime essentially working one system. He has seen many bubbles come and go and has probably created and profited from most of them. He might be looking at Crypto as being a drop in the ocean when compared to traditional currencies - and thus dismissive of them - note he was not dismissive of blockchain generally.

He might well believe that HIS world will not change significantly and his position in it will never be challenged by what he sees as an upstart currency/bubble like BTC.

Who knows?

[aanbudi]

Who knows. In fact, he deliberately made the statement that Bitcoin is a fraud. He took the wrong step by saying that. And suddenly news emerged that he was the biggest Bitcoin buyer yesterday. Actually what he thinks. Extraordinary.

[HODLwearz]

He knows people are keen to the games the banking system is playing with the peoples' money and the connection the industry has to government. I wouldn't be surprised if he takes all those bitcoins he bought during this dip and TRIES to disappear before the people string him up by the neck with the rest of these criminal bankers.

[MiF]

Number 1 for sure.

All he wants is to slow down the momentum that bitcoin and crypto was gaining to give them more time to adjust to the future.

Maybe his corporates think that bitcoin and cryptocurrencies are the number one rival of his companies and businesess that is why he want cryptocurrencies down with collaboration with the Chinese. I heard he have some chinese associates if they have Morgan we have already Bill Gates and Warren Buffet.

[Yakamoto]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject.

Hope I can count on you guys for this.

So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well.

Let me know your opinion on the matter.

The man is probably capitalizing on the speculation due to China and making a statement so he can push the value down just that little bit extra so he can make even more money off of purchasing more and waiting for the value to go up again.

Businessmen are patient, opportunistic and willing to take calculated risks, even better when the risk is as small as it is with Bitcoin. As long as it doesn't collapse, there is a lot of money to be had and it just takes some time to get the value to go up again, something most would say is almost guaranteed to happen. Not really surprising to be honest.

[JaredStein]

JP Morgan create FUD and drama only for purpose to buy cheap Bitcoins after.

[An0nyMoose]

How it works:

1) Become CEO of major bank
2) spread FUD about something you want to invest in
3) wait til price drops... invest!

[crismass1225]

Dimon can walk the talk like bill gates interviewed before. Dimon know what he was saying and he knows the capability of bitcoin and other crypto currency that his business was threaten by the outgrowing popularity and price of bitcoin for short and long term process. But as one of a big name in wall street every words that he say when it comes to financial economic market are very powerful that he can influence many people to believe in his words. Thats what happen after he was interview which is the price of btc was down to 5% and later on to 10% in accordance with chinas decision ....

[rjbtc2017]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject.

Hope I can count on you guys for this.

So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well.

Let me know your opinion on the matter.

Apparently, i think it was a strategy made by JP Morgan and Dimon to create a mass panic alongside with the massive mainstream media reports about how bitcoin could be a big fraud. It is really disappointing and unimaginble the they need to that to lower the value in order for them to buy at low price.  It is a smart move to decrease the number of weak hands that holds bitcoins.

[yugyug]

JP Morgan's MR. Dimon knows the potential of bitcoin and admired the technology behind it - the blockchain. They even created their own decentralized platform on a blockchain based technology- the Quorum. As an influential person he knows when to manipulate the market and buying a good investment position in bitcoin. Mr. Dimon's fallacy has a greater advantage to bitcoin long term holder, buy low, buy low , buy low and sell high later.

[MSZCoin]

Bye bye FED

[layoutph]

The correct answer is #3, Mr. J Dimon is a bitcoin investor and he knows his financial influence in the market. If Bitcoin is fraud then why JP morgan has a huge purchase of Bitcoin? Sounds fishy.

[lighpulsar07]

well i voted "He knows about his influence and coin market volatility and wanted to profit on it" because after his comment and the china's ban in exchanging virtual currencies caused negative impact on bitcoin and caused price crash the company JPmorgan bought bitcoins as we see on twitter and news websites. and my opinion to that is dimon is getting desperate to make that comment and doing the opposite.

[Baser]

James Dimon is a complete speculator. He made a lot of money.
And he certainly knows his influence and the market volatility of coin money and wants to make a profit on it.I voted for this.

[affigne]

Thank you all for your opinions and votes. As it goes, it seems that Dimon is pretty much aware, not only of the volatility of the market, but the fear and expectation cryptocurrencies generate in general. For me, tho I'm in this cryptophenomenon since 2016 (yeah yeah a bit late), I'm still reluctant to do a leap of faith cuz there's A LOT to learn about it before (blockchains, ICO's, AltCoins, Impact on the world, etc). So, I kind of understand when people hear or read a public or powerful figure like him making negative comments and then take the next stop to exit the cryptotrain. Even tho he already has a record of doing such things to profit.

[iram1011]

He has already played his game very well and must be sitting over a billion profit today!

[vipgelsi]

Most of the big shots do not like Bitcoin because they didn't buy it cheap. They do not want average people to become rich quick when there wealth took years.

[Pamadar]

He has already played his game very well and must be sitting over a billion profit today!

funny for those who's crying right now because of believing from this man's statement and afterwards realizing that this guy only trick most of those
weak holders allowing to crashed bitcoin credibility and making a huge issue so people will be afraid losing their investment as a whole so they sell
their coins.

[tiggytomb]

It's a strange one, saying that bitcoin is a fraud and will soon be closed is crazy speak and gives the impression that he does not know much about bitcoin. 

Is this just a facade to make people think the banks are clueless when in fact they are more clued up then most?

I suggest it was a clever move to see how their influence effects bitcoin and of course to buy a large share in the overall supply.

[iram1011]

He has already played his game very well and must be sitting over a billion profit today!

funny for those who's crying right now because of believing from this man's statement and afterwards realizing that this guy only trick most of those
weak holders allowing to crashed bitcoin credibility and making a huge issue so people will be afraid losing their investment as a whole so they sell
their coins.

These banks are best at this.

[i287853]

I am quite confused about his comments. His company is behind and is supporting ethereum, a decentralized computing network that uses a blockchain which is also the same structure and principle as bitcoin. He says that bitcoins is fraud but stated that her daughter purchases it. Why would you even let your daughter invest into something if you think its fraud?? His comments baffles me.

[waru96]

finally they have some btc on theier hands

[virasog]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject.

Hope I can count on you guys for this.

So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well.

Let me know your opinion on the matter.

What are you based at information on? Where do you get your information from? How are you making this statement with any sort of proof? These are the questions that people have to ask these are the questions that have to be asked in order for the rumor mill to stop pushing information wrong direction. Everyone knows what JP Morgan's CEO  commented earlier and than later about bitcoins.

[Thymoty]

I guess he just wants to make bitcoin prices down with an obscure issue, so when it comes down to price he can buy it, hehehe

[affigne]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject.

Hope I can count on you guys for this.

So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well.

Let me know your opinion on the matter.

What are you based at information on? Where do you get your information from? How are you making this statement with any sort of proof? These are the questions that people have to ask these are the questions that have to be asked in order for the rumor mill to stop pushing information wrong direction. Everyone knows what JP Morgan's CEO  commented earlier and than later about bitcoins.

Got it from a cryptocurrencies news webpage, and the poll is to know about what could have been the reason behind his comment... There's nothing misleading about that.

[Barcode_]

This guy is getting more and more absurd with his comments, yesterday he commented that governments will close down bitcoin and crypto-currencies if they get too big, warns Jamie Dimon. And after his comments, bitcoin price dropped again but slowly gaining back the values today, I think this guy just want to manipulate the market and cause bitcoin price to drop so his clients in JP Morgan could buy some bitcoin at cheaper rates, I will never ever use JP Morgan investment service no matter how attractive the returns are because of this CEO.

[random8888]

that bastard is trying to manipulate the market, causing the price to free fall so he can buy Bitcoin on the cheap. He knows Bitcoin is a real threat and there is no way around it, it is gonna happen. But meanwhile he needs to stock up on BTC!

[Sithara007]

that bastard is trying to manipulate the market, causing the price to free fall so he can buy Bitcoin on the cheap. He knows Bitcoin is a real threat and there is no way around it, it is gonna happen. But meanwhile he needs to stock up on BTC!

He has already stated that his daughter is a Bitcoin enthusiast. He may not be buying Bitcoins directly, but he may be providing funds to his daughter to purchase and hold BTC. This guy must be investigated and jailed for insider trading and financial fraud.

[iram3130]

1st and 3rd, one of them are definitely true. He just knows that his blind followers will dump if he say something like that and he thought people may leave crypto for his one statement. He doesn't know that we're here for the qualities of bitcoin not because of someone's statements.

[Dhaaaw]

To be the CEO of JPMorgan Banks you have to be smart and have alot of ruse thats why i think that he knew about his influence and decieded to act on it but i kinda hope that he uses it in a positive way.

[random8888]

that bastard is trying to manipulate the market, causing the price to free fall so he can buy Bitcoin on the cheap. He knows Bitcoin is a real threat and there is no way around it, it is gonna happen. But meanwhile he needs to stock up on BTC!

He has already stated that his daughter is a Bitcoin enthusiast. He may not be buying Bitcoins directly, but he may be providing funds to his daughter to purchase and hold BTC. This guy must be investigated and jailed for insider trading and financial fraud.

and that makes HIM the "fraud"!

[Svelto]

My opinion is:

He knows about his influence and coin market volatility and wanted to profit on it

It is fishy that JP Morgan invest in BTC right after he mentioned all this about BTC. And I cannot imagine a high level staff say that he will sack those staffs who buy BTC.

[thilinanamal]

Jimie realy hates btc....he has again done a announcement on btc that governments will ban BTC if it goes too high...LOL

[avikz]

Hi everyone! I've been thinking on ways of learning and teaching about bitcoins and cryptocurrencies, and can't come with a better idea than prompting you, the bitcointalk community, to participate in polls about the cryptoworld, so everyone can vote and post their opinion on the subject.

Hope I can count on you guys for this.

So, here's the first poll I'm doing, and it has to do with JP Morgan CEO, James Dimon, and his comment about how bitcoin and the tulip bubble are similar, if not, the same, and how it was a big fraud as well.

Let me know your opinion on the matter.

We just voted on the possibilities and no one actually aware of the real reason. James is a smart banker who knows a lot about bitcoin and its market cap. It is very much possible that he wanted to buy bitcoin at a lower price. So he started with a shocking statement which actually shook the market and bought down the price at a optimum low level where he entered the market to make a huge profit.

Another chance may be, he is just worried about the amount of investment is flowing in to bitcoin. So if bitcoin doesn't exist, that amount of money should have flown in to a proper banking channel where his bank and other peer banks could have benefited.

[mozillaspez]

that bastard is trying to manipulate the market, causing the price to free fall so he can buy Bitcoin on the cheap. He knows Bitcoin is a real threat and there is no way around it, it is gonna happen. But meanwhile he needs to stock up on BTC!

Please mind your language because don't use vulgar words for someone but something like fall price it is not actually falling it is actually going upward and people are attracting that's why bitcoin giving opportunity to everyone.

[Herbert2020]

there is a pretty good change that they had some plans behind the curtains to make a large amount of profit from bitcoin. a $1000 dip is not a small profit! imagine if they have invested about a million dollar in bitcoin and that would be a tiny investment on their part. with that they could have made a very large sum of money in just a couple of days and only by puling a public stunt like that.
it was easy money that makes anyone want to use any power they have to take advantage. of course we will never have any kind of proof!

[pawanjain]

I have opted to vote for the fact that he knew about his influence and the coinmarket and wanted to profit out of the volatility. That's the reason why Jamie made that statement. In fact I just read today on cointelegraph that some of the executives from JP Morgan made transactions to buy Bitcoin at the lowest point just after Jamie Dimon made that statement. So that just proves the fact that Jamie actually used his influence on the market to profit out of the volatility.

[ivrynx]

I think he understand the volatility of bitcoin and how he can benefit from it, he knows that he can use his influence in order to lower down the price so he can buy as much bitcoin as he wants, i think being the ceo of a bank, he might have just said those words to protect his business and for his people to have more confidence in him, but thr fact is, he knows a good investment when he sees one, since they can also manipulate the prices on the stock market, why not try bitcoin, and i think it is not a coincidence that he made his statement during the time when china was bannung ICOs, the could not just be right, to aid in loering the price of bitcoin, and as we all know, what happened, bitcoin took a dip, wherein in someway it is a good thing, since we can buy bitcoin at a lower price and hopefully those who havr weak hands already learned their lesson. Let's not try to forget that some if the tactics companies use to help them increase the value of shares, one is to hype the company, and the other one is to bad mouth your opponent, it seems to be true to bitcoin as well, but the banks will certainly have a hard time in doing so, since most people who have bitcoins now are investors already and in time, they might want to join us or they might be already part of the community.

[Freshmen]

I think he understand the volatility of bitcoin and how he can benefit from it, he knows that he can use his influence in order to lower down the price so he can buy as much bitcoin as he wants, i think being the ceo of a bank, he might have just said those words to protect his business and for his people to have more confidence in him, but thr fact is, he knows a good investment when he sees one, since they can also manipulate the prices on the stock market, why not try bitcoin, and i think it is not a coincidence that he made his statement during the time when china was bannung ICOs, the could not just be right, to aid in loering the price of bitcoin, and as we all know, what happened, bitcoin took a dip, wherein in someway it is a good thing, since we can buy bitcoin at a lower price and hopefully those who havr weak hands already learned their lesson. Let's not try to forget that some if the tactics companies use to help them increase the value of shares, one is to hype the company, and the other one is to bad mouth your opponent, it seems to be true to bitcoin as well, but the banks will certainly have a hard time in doing so, since most people who have bitcoins now are investors already and in time, they might want to join us or they might be already part of the community.

Everyone in this world has his own thoughts about different things. But I wonder why the developers, controllers and all the bitcoiners give so much importance to the statement of this man. I think it is just his personal view and opinion about opinion. Why are we so panic? I can also say many things which will not be in favor of bitcoin. Then what would happen, the people will stop inviting in bitcoin, fool.

[d1ceplayer]

I have opted to vote for the fact that he knew about his influence and the coinmarket and wanted to profit out of the volatility. That's the reason why Jamie made that statement. In fact I just read today on cointelegraph that some of the executives from JP Morgan made transactions to buy Bitcoin at the lowest point just after Jamie Dimon made that statement. So that just proves the fact that Jamie actually used his influence on the market to profit out of the volatility.

I am sure he played a role many companies do in stock exchange. First demote something so the people will keep themselves far from that particular thing, then buy as much as he can on a very low price and then promote that specified thing in the market and make a huge profit.

I am 100 percent sure that the truth behind the Jamie Dimon statement was just for that as we heard that his people have bought a lot of bitcoin.

[AmXProX]

I have opted to vote for the fact that he knew about his influence and the coinmarket and wanted to profit out of the volatility. That's the reason why Jamie made that statement. In fact I just read today on cointelegraph that some of the executives from JP Morgan made transactions to buy Bitcoin at the lowest point just after Jamie Dimon made that statement. So that just proves the fact that Jamie actually used his influence on the market to profit out of the volatility.

I am sure he played a role many companies do in stock exchange. First demote something so the people will keep themselves far from that particular thing, then buy as much as he can on a very low price and then promote that specified thing in the market and make a huge profit.

I am 100 percent sure that the truth behind the Jamie Dimon statement was just for that as we heard that his people have bought a lot of bitcoin.

he just tested the waters, when it was not shook because of his statement then it is a green flag for him to put an investment on it.

[dwwbit]

Voted for "He knows about his influence and coin market volatility and wanted to profit on it"

as per news, he made a negative comment about bitcoin to make bitcoin price crashed then he can buy the dip and make a huge profit.

[cpfreeplz]

Who cares. The prices didn't drop because of some dumb CEO toddler whining about something that does his job than him. He's supposed to help people move money, invest money and Bitcoin does that all for free without him and 10x better. Of course he's going to be like a scared animal, piss of himself and get the claws out.