[2017-10-20] First World Fat Cat Jamie Dimon Doesn’t Understand Poverty, Bashes

[cybersofts]

First World Fat Cat Jamie Dimon Doesn’t Understand Poverty, Bashes Bitcoin



It’s said how little Jamie Dimon knows about the needs of people who live in the countries of South America, Central America, Africa and Asia.

Dimon keeps finding new ways to show his lack of understanding of Bitcoin, and of the economic realities of most of the world’s population. He recently said:

    “If it can be done digitally with the Blockchain, so be it. But it will still be a dollar cryptocurrency. What I have an issue with is a non-fiat cryptocurrency. So crypto sterling, euro, yen, they are all fine. I don't personally understand the value of something that has no actual value.“

Fat cats

For an American millionaire with a narrow view of the world, he may be right. But for the inhabitants of more than 170 countries that do not have strong fiat currencies like sterling, euro, yen or dollars, Bitcoin definitely has value. An example from Brazil clearly demonstrates the benefits of transacting internationally with Bitcoin.

Developing countries are often saddled by their governments with capital controls, to prevent money from leaving the country.

Cost savings

A Brazilian who buys a product from Amazon pays a 6.5% “IOF Tax” retained directly on his credit card. This tax is levied on any international purchase or remittance of securities. In addition, this user is at the mercy of the exchange rate that will be applied by the operator of the credit card. Combined, transactional costs can exceed 10% of the purchase price, and that’s not even considering the import taxes that must be paid.

Now imagine a Brazilian who has decided to study the magnificent world of Blockchain and needs to buy a $100 item from Amazon. This person can use one of several Bitcoin-based websites to get a 15% discount on his purchase. Thus a $100 purchase, instead of costing $110 as it would by using his credit card, actually only cost $85. That’s a huge savings.

 Does Bitcoin have any value to the mega-rich like Dimon? Probably not. But in the developing world, where a few dollars can literally make the difference between feast and famine, Bitcoin has real value.


Source: https://cointelegraph.com/news/first-world-fat-cat-jamie-dimon-doesnt-understand-poverty-bashes-bitcoin

[oficman]

Rich people do not bypass bitcoin, as today it is one of the most popular types of investments. They simply have a different attitude to digital coins than ordinary people.

[iamTom123]

I firmly believe that Mr. Jamie Dimon is just protecting his own kingdom from the intrusion of the cryptocurrency movement but he has no choice as the more he is commenting against Bitcoin the more the value is surging high. The market has already learned to ignore anything he has to say partly because there is actually nothing new here and he has not presented any convincing arguments but just rehashed criticisms for the sake of criticizing.

I am sure that deep in his heart, he is actually laughing because without doing anything that much his fame surged up just like Bitcoin. Though the man has been a mainstay of the mainstream media for the past many years, the fame he got into is not on the same level that he has right now. In other words, he has many thinks to thank Bitcoin for.

Sooner or later, the mainstream media would not anymore cover anything that he has to say on Bitcoin as nothing is really new. Soon he would just fade into the oblivion and should just concentrate on fortifying his finance institution for the coming crash that USA will experience.

[peter0425]

Why are we still talking about Jamie Dimon, He's 5 minute of fame is already. We already found out that he is the real stupid here because he clearly doesn't understand what bitcoin is for the most part of the world. He is only here to protect their own backyard that is the old US o A. He doesn't know that in some parts of the world, bitcoin is being used as a currency and used it to purchased it to bring food in the table. He only knows about his banks, how fraudulent as it may sounds to make money, they will do it, for the sake of them making huge profit. And they think that bitcoin can disrupt that process and they are they are being threaten by bitcoin. So they must act fast and attack bitcoin before its too late.

[darkangel11]

He got bashed for his lack of understanding for those whose currencies are weak, but that's not all. He also said that he has trouble understanding the value of something that has no value, which is extremely arrogant, but what would you expect from a rich snob.
Bitcoin's value is clearly visible on the charts and millions of investors can see it. If Jamie can't then maybe it's time to see a doctor

[sock_info.doNOT.send.$]

Why are we still talking about Jamie Dimon, He's 5 minute of fame is already. We already found out that he is the real stupid here because he clearly doesn't understand what bitcoin is for the most part of the world. He is only here to protect their own backyard that is the old US o A. He doesn't know that in some parts of the world, bitcoin is being used as a currency and used it to purchased it to bring food in the table. He only knows about his banks, how fraudulent as it may sounds to make money, they will do it, for the sake of them making huge profit. And they think that bitcoin can disrupt that process and they are they are being threaten by bitcoin. So they must act fast and attack bitcoin before its too late.

Is this the guy from a month ago, a big US investor company? Why does he keep trying to bash BTC?
I will check...

JPMorgan CEO Jamie Dimon sparked a conversation about bitcoin among top Wall Streeters.
Since he called the digital currency "a fraud" in September, a slew of top Wall Streeters..
http://www.businessinsider.com/cryptocurrency-experts-on-dimons-critiques-of-bitcoin-2017-10

Yes he is the same one, we should be rid of people like him by now?
How to make the human side of BTC more secure from bad propaganda? Why not spend some of ETH magic money to help the ecosystem?

[Nameless27]

In the bitcoin community maybe Jamie Dimon will be voted as the most hated person of this year. From comments that is out of the logical thinking to an obvious depression case. Dimon started to do black propaganda for its own interests and for the company/bank he represents. Even being a father to her daughter who also have bitcoin herself give an unlikely comments towards her.

Putting names and calling bitcoins in many vulgar meaning he done all of that but it seems no effect at all.