Jamie Dimon bashes Bitcoin again

[KingCanuck5]

https://www.c[Suspicious link removed]m/2017/09/22/bitcoin-jpmorgans-jamie-dimon-lays-into-bitcoin-again.html

This time he says it is "worth nothing" because it was made out of thin air.  He also talks about the importance of government backing in a currency and says again that Bitcoin will "end badly".  And adds that more governments will move to shut it down.

 I wish a reporter would ask him about the discovery that JPM was trading Bitcoin after he said he'd fire everyone he caught trading Bitcoin.

He was bashing bitcoin in 2014 too. He just can't see it coming, sad!

[StockBet.com]

I wonder if he realizes the words coming out of his month are negatively affecting his own employees as well as JP Morgans customers? The first house in the usa was purchased with bitcoin.  The customer, agent, and title company said it was the easiest closing they ever did 10 minutes and money was available.  it was in Texas if u want to check me.  so he is very scared.  The banks would normally be right in the middle.  Jamie should be figuring out a way to embrace it not try to bully over it.  People are tired of being bullied by these greedy people.  This is perfect time to get in if u have been on the fence.  

JP Morgan customers might be fleeing to other brokerage houses, in order to diversify into this new asset class.

Fidelity CEO took the exact opposite approach.  She's enabling customers to view their crypto holdings in Fidelity's system.

[Baofeng]

i believe this time it is more like a middle finger to everyone since recently (i think it was yesterday) that they said Jamie Dimon is going to get in to trouble with the Swedish financial authorities over manipulating the market.

it would be very interesting to see how this ends though.

ref: https://news.bitcoin.com/jamie-dimons-bitcoin-statements-reported-as-market-abuse-in-sweden/

Yes, I also read that news and I was laughing because someone take Dimon one on one. LOL. It would be interesting how he will defend himself. But I think nothing will happen out of it because its really hard to substantiate, its a free market after all.

He defies the true form of a Businessman. He doesn't care how others will feel especially to the new investors in this industry as long as he gets what he wants. This new attack that he made for sure will bring another mark down to the value of Bitcoin which in this he could take advantage of it and bought again. A typical strategy to manipulate the market especially if you are the CEO of one of the controversial bank in the world. He smells money in this field that's why he penetrates it no matter what will it cost to others.

He is after all the very definition of a businessman/opportunist. Definitely his statement will affect the price as I see it going down to $3500 now. And we still have the local Chinese exchange closing its operation at the end of the month. So it gonna be another bumpy ride starting today up to the end of the month.

[HashFace]

I doubt anything will come of it, but the story also mentions a Swedish firm has filed a complaint against Dimon for market manipulation. 

BTW, why does my post now say "suspicious link removed?".  It was cnbc.com ... a pretty well known financial news website, if anyone wants to see the story for themselves.

[YuginKadoya]

I think this is a well executed plan in giving bitcoin another storm, you can surely see that the fake news back then is no laughing matter anymore many is surely believing about this kind of statement, and it is from a well known  people and company that are keeping giving FUD about bitcoin, you can surely see the amount of damage that has done by it, and now the value is depleting again, we can see the outcome of this kind of bad comments about bitcoin.

[Carlton Banks]

it would be very interesting to see how this ends though.

ref: https://news.bitcoin.com/jamie-dimons-bitcoin-statements-reported-as-market-abuse-in-sweden/

No it won't, it's 100% predictable that Dimon will either face no consequences at all, or that the consequences will be so meager that they'll never affect him or JP Morgan seriously.

Most likely outcome: Swedish watchdog/ombudsman says, "Bitcoin is unregulated, therefore Dimon can say what he likes"

[Hamilcar]

Maybe banks start to loose clients and they feel endangered because of cryptocurrencies.

[joseafonso123az]

These guys are bankers and investors at the same time. These guys understand how the bubble works, and if they can profit by talking bad about bitcoin, why wouldn't they? it's reasonable from them, but also using the same tactic again and again won't be so profiting for them!

[shiningstar]

Who the hell is he? I don't know him but ugh, i already dislike him.
I know bitcoin is abstract, in which i mean it has no shape, or we can directly touch and sense it.
But that doesn't mean bitcoin is useless and will end badly. And even ask the goverment to shut bitcoin down.
I'll never ever agree with that! There're many people that put their hope in bitcoin, why should him bother interfere if he even doesn't use btc? I'm confused.

[harizen]

https://www.cnbc.com/2017/09/22/bitcoin-jpmorgans-jamie-dimon-lays-into-bitcoin-again.html

This time he says it is "worth nothing" because it was made out of thin air.  He also talks about the importance of government backing in a currency and says again that Bitcoin will "end badly".  And adds that more governments will move to shut it down.

 I wish a reporter would ask him about the discovery that JPM was trading Bitcoin after he said he'd fire everyone he caught trading Bitcoin.

Overall, no impact. Let them voice out their thoughts or so called FUD. We have freedom of speech.

On the positive note, do they really think they can wrecked the moral of bitcoin investors by spreading negative thoughts. Are they powerful enough to do it? They are nothing compared to BCH developers which is way more impact than them in terms of creating FUD.

[J. Cooper]

He clearly hasn't properly researched bitcoin or just feel threatened by it. I'm assuming it's the latter. I don't know who this guy is but it's probably a banker or someone who will be irrelevant if bitcoin and crypto currency become big.

[Xester]

https://www.cnbc.com/2017/09/22/bitcoin-jpmorgans-jamie-dimon-lays-into-bitcoin-again.html

This time he says it is "worth nothing" because it was made out of thin air.  He also talks about the importance of government backing in a currency and says again that Bitcoin will "end badly".  And adds that more governments will move to shut it down.

 I wish a reporter would ask him about the discovery that JPM was trading Bitcoin after he said he'd fire everyone he caught trading Bitcoin.

I bet this time no one will believe him.  He is like a dog that keeps on barking.  Anyways they said that he bought some bitcoins and maybe he wany to buy more bitcoin.  He just want other people to panic sell their bitcoins so the price will go down and it is an oportunity for him to buy more.

[Kprawn]

Once a large enough amount of traders (and the public) understand Bitcoin well enough (and it's differences with the dollar), Dimon might instead end up crashing JP Morgan shares. Or even the dollar....


If Dimon eventually crashes the dollar talking Bitcoin down, the Streisand effect might get re-named Dimon effect instead

Jamie Dimon would probably be bankrupt and in jail by now if the government did not back the Banks and people like him.

The Banks were funded by Taxpayers money to keep their doors open. They already failed, and now they are pointing fingers

at Bitcoin. It is either that or he knows the government is going to back him again and fight with him against Bitcoin. 

[Carlsen]

I think that people who already have bitcoin are a little bit informed about what they did with their money.
None of them is going to sell because some guy they probably never heared the name before gave an interview or two. At least I don't think so.
Everything Dimon can achieve is to stop a few people from buying.
Personally I don't think his fairy tales have much influence on the market.

[Crypto-in-tha-blood]

He bashes it to insight panic.  When in reality, he and his company are probably buying up everything they can with accounts that aren't linked to them.

[Coldsnap4457]

I love John McAfee's new name for him:  Jamie Demon.

[mr.mister]

In all seriousness,


Lets face it, the China events, the recent attacks by Dimon and other heads of funds and institutions, have taken a toll on cryptos.

The reality is, that these folks are out to destroy bitcoin before it destroys them. So as a pro Crypto Community, how can we be more proactive, to rebuttal these sometimes phony attacks and inform investors?

[e-coinomist]

Who the hell is he? I don't know him but ugh, i already dislike him.
...

Same reaction! Who the frog is that Foucard?! 'Scuse my french.

Now he catched himself some Market Abuse Report filed against the very Mr. Dimon, from a company labelled "Blockwater" and that's ingenious. I am a sucker for branding. Sounding similar to that private military company run by former SEALs. Let us hope they are on occasion equally short tempered.

[Zuilhsa]

How can Jamie Dimon say that Bitcoin is worth nothing if it has a proof of work? Bitcoin miners spend thousands of dollars just to make 1 Bitcoin. He's just making statements like this to influence people to not buy and the bitcoin price will go down then his JP Morgan will invest in bitcoin. This man has no credibility and he is the real fraud.

He is really a fraud, he has been continually giving negative points about bitcoin, he may have a thought that by saying bitcoin to be worth nothing people will get scared and the price will drop down so that he can buy more coins, may be this can be the truth behind it.

[HashFace]

Who the hell is he? I don't know him but ugh, i already dislike him.
...

Same reaction! Who the frog is that Foucard?! 'Scuse my french.

Now he catched himself some Market Abuse Report filed against the very Mr. Dimon, from a company labelled "Blockwater" and that's ingenious. I am a sucker for branding. Sounding similar to that private military company run by former SEALs. Let us hope they are on occasion equally short tempered.

Unfortunately, he's regarded in the financial world as somewhat of a hero.  He's the CEO of JP Morgan Chase, a huge US bank, but is best known for standing up to congress during the "bailout" hearings of 2009ish when congress was frothing at the mouth to find a villian at the banks to pin that on.  But he's not a clean player, either, JPM has been fined for their actions in the financial crisis.  But, unfortunately, his status makes people listen to him.  He's pretty influential.