'Fraud,' or the Future of Finance?

[Avdotiy]

'Fraud,' or the Future of Finance? What do you think?

JPMorgan May Not Rule Out Bitcoin After All

 Chief Executive James Dimon is one of the most outspoken critics of bitcoin, indicating that if any of the bank’s traders bought or sold the digital currency he would “fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”   https://www.youtube.com/watch?time_continue=61&v=40OuVyVGdIM

Yet despite its leader’s strong distaste for bitcoin, the Wall Street bank is reportedly looking at business opportunities in the planned bitcoin futures market. (See also: Bitcoin's Potential Is Underestimated: Thiel.)

The Wall Street Journal, citing a person familiar with the matter, reports that JPM is considering whether to provide its clients access to CME’s new bitcoin product through its futures-brokerage unit. Chicago-based exchange operator CME Group Inc. is set to launch bitcoin futures by the end of 2017, subject to regulatory approval. The addition of bitcoin futures would carry the virtual currency one step closer to the financial mainstream, facilitating financial firms and retail investors in trading. CME’s smaller rival Cboe Global Markets Inc.
CBOE is reportedly also looking into launching bitcoin futures.

'Fraud,' or the Future of Finance?

While other big banks, including Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and Bank of America Corp. (BAC), who offer their customers access to CME’s markets through their futures-brokerage arms, must decided whether to support CME’s bitcoin futures, none have a CEO as opposed to bitcoin as Dimon. The CEO has deemed bitcoin a “fraud” and warned at a conference last month that “if you’re stupid enough to buy it, you will pay the price for it one day.” Dimon’s stance on bitcoin comes at a time when many institutional investors are changing their minds regarding the digital currency, with true bitcoin bulls expecting prices to reach $200,000.


https://www.investopedia.com/news/jpmorgan-may-not-rule-out-bitcoin-after-all/

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[Avdotiy]

If you ask me, yeah, it is a future of finance and a really good investment, but there are many different opinions. Like that:
Crashing Yesterday!
Bubble!

And where are Wall Street, are they already in the market?

[meer45]

I'm thinking we are slowly moving past the "fraud" stage, because people have started to see that cryptocurrencies are not a fraud. We are currently experiencing the "it's a bubble" wave, which I think will continue until the price stabilizes. It is currently unknown how strong a player bitcoin will be in the finance world in the future, but it will definitely continue to be influential.

[queenbes]

I'm thinking we are slowly moving past the "fraud" stage, because people have started to see that cryptocurrencies are not a fraud. We are currently experiencing the "it's a bubble" wave, which I think will continue until the price stabilizes. It is currently how strong a player bitcoin will be in the finance world in the future, but it will definitely continue to be influential.

agree with this point of view. but i think we never past "it's a bubble" stage

[dothebeats]

I'm thinking we are slowly moving past the "fraud" stage, because people have started to see that cryptocurrencies are not a fraud. We are currently experiencing the "it's a bubble" wave, which I think will continue until the price stabilizes. It is currently how strong a player bitcoin will be in the finance world in the future, but it will definitely continue to be influential.

Most people still tag bitcoin as a bubble since they still don't get i or haven't studied it thoroughly--and honestly, even if they do, they'd still be unsure! My take is that the price will never stabilize until big merchants and names in the world economy starts using bitcoin for their enterprises. For now, it will be another medium of investment and value, but for exchange? Not so much.

And the only fraud in here are the banksters who have been scamming us since their inception.

[HasHe]

Banksters are the real fraud and they fear that bitcoin will not let them in future to do so.So,jamie dimon is screaming at bitcoin.

Here we should notice an interesting aspect that JP MOrghan CEO is shouting that bitcoin is a fraud and his company JP Morgan has been issued a notice last week for money laundering purposes.This shows the true face of such banksters.

Whatever the critics say about bitcoin,bitcoin has traveled very high far away from their reach and CEOs like him are helpless.

[darkangel11]

The Wall Street Journal, citing a person familiar with the matter, reports that JPM is considering whether to provide its clients access to CME’s new bitcoin product through its futures-brokerage unit.

I remember when Jamie said that if an employee of his was caught trading BTC he'd be fired. Soon a time will come when Jamie will have to fire himself. The memes are going to explode if he really goes through with those futures. I mean how dumb do you have to be to first go publicly against something and a month later find yourself supporting it.
People like him are their own worst enemies when it comes to PR.

[AmXProX]

I'm thinking we are slowly moving past the "fraud" stage, because people have started to see that cryptocurrencies are not a fraud. We are currently experiencing the "it's a bubble" wave, which I think will continue until the price stabilizes. It is currently how strong a player bitcoin will be in the finance world in the future, but it will definitely continue to be influential.

Most people still tag bitcoin as a bubble since they still don't get i or haven't studied it thoroughly--and honestly, even if they do, they'd still be unsure! My take is that the price will never stabilize until big merchants and names in the world economy starts using bitcoin for their enterprises. For now, it will be another medium of investment and value, but for exchange? Not so much.

And the only fraud in here are the banksters who have been scamming us since their inception.

If you could buy the coin for $5,000 why buy it while the price is at $8,000? If you know that your statement will cause panic on bitcoin's owner that will cause it's price to go down a bit why not give that statement then buy the coin when the price goes down. We know how businessmen plays the market as much as possible they want to save a dime from a purchase before getting into it.

[eCrypto]

Bitcoin=Blockchain=Future

[adamcro]

It's not a fraud, but it's only matter of time when countries will want to centralize and control crypto-anything, otherwise country won't be able to control banks, hospitals or whatever is in their jurisdiction.  I highly doubt that countries like America will embrace crypto just like that and let it run around untamed

Americans love to be in control one way or another

[Hydrogen]

I think that when JP Morgan says there could be a future in blockchain. What they mean is, there is a possibility create their own altcoin which is exactly like fiat in every possible way. The centralized mentality and business model of banks may be incompatible with true crypto currencies which utilize decentralized design and power structure.

Bitcoin has built a sterling reputation for producing long term value and reliability. Central banks could use that reputation to push their wealth redistribution, profiteering campaigns by building unreliable, regulated, systems using blockchain technology. One might compare it to ethereum which many believe to be stable and reliable as bitcoin, despite ethereum being far more like a fiat currency which can be printed ad infinitum into hyperinflation.

Blockchain technology may also be more affordable and easier to deploy than traditional electronic banking systems. It could boast higher reliability. There are reasons which make blockchain an attractive design from an engineering and business model standpoint.

[50ouncebrew]

It's not a fraud, but it's only matter of time when countries will want to centralize and control crypto-anything, otherwise country won't be able to control banks, hospitals or whatever is in their jurisdiction.  I highly doubt that countries like America will embrace crypto just like that and let it run around untamed

Americans love to be in control one way or another

While there has been an unbelievable amount of fraud in the crypto world, it is clear that crypto itself is not a fraud, but instead only the Humans who use it for nefarious purposes, unfortunately.

[doch]

If you ask me, yeah, it is a future of finance and a really good investment, but there are many different opinions. Like that:
Crashing Yesterday!
Bubble!

And where are Wall Street, are they already in the market?

You are right the future of finance will be good because of bitcoin, bitcoin become the top cryptocurrency and that’s why the condition is finance also become better, the fact of fraud I really didn’t get because fraud like things I never seen in bitcoin still now and I am sure that it will be rubbish .

[Agostosmori]

I think that when JP Morgan says there could be a future in blockchain. What they mean is, there is a possibility create their own altcoin which is exactly like fiat in every possible way. The centralized mentality and business model of banks may be incompatible with true crypto currencies which utilize decentralized design and power structure.

Bitcoin has built a sterling reputation for producing long term value and reliability. Central banks could use that reputation to push their wealth redistribution, profiteering campaigns by building unreliable, regulated, systems using blockchain technology. One might compare it to ethereum which many believe to be stable and reliable as bitcoin, despite ethereum being far more like a fiat currency which can be printed ad infinitum into hyperinflation.

Blockchain technology may also be more affordable and easier to deploy than traditional electronic banking systems. It could boast higher reliability. There are reasons which make blockchain an attractive design from an engineering and business model standpoint.

It is quite confusing how can a bank like JP Morgan embrace something that is a big threat on their main business. We know that bitcoin's main purpose is to become a currency that can be used in the whole world and people are embracing it because of the fact that it is decentralized and I know that JP Morgan is aware that if they are going to create their own crypto currency it will be a centralized one will is impossible to surpass bitcoin.

What I'm seeing here is that JP Morgan already invested in Bitcoin and they are protecting their investment.

[icanscript]

I think that bankers say and do, only what is beneficial to them.
Customers want to earn on crypto-currencies, this will force bankers to give them this service.
Crypto currency-future, ortrodci will soon die out

[montefalco09]

Well we pass the fraud stage then bitcoin now goes to the "bubble" stage they were talking until the price stabilize bitcoin will be the future of finance.

[LoyceV]

Most people still tag bitcoin as a bubble since they still don't get i or haven't studied it thoroughly--and honestly, even if they do, they'd still be unsure!

Considering how Bitcoin went up in value, it sure looks like a bubble. But, if you consider it went up one million fold in the past 7 years, there's no reason it can't go up one hundred fold again in the coming years.

My take is that the price will never stabilize until big merchants and names in the world economy starts using bitcoin for their enterprises.

If it ever stabilizes, it'll lose the inflow of fresh money caused by speculation. Just like most people don't buy dollars or pounds to speculate on a price increase, this phase will eventually end for Bitcoin too.
By then, the people who own some already are rich, and others will just earn it the way they earn fiat money now. Either way, the future potential is too big to risk not getting in now.

Bitcoin itself is no fraud. It can't be, it's a technology that works. For the tulip comparison, it's like saying tulips are a fraud. That's impossible, they're just flowers!

[jseverson]

Well it's pretty obvious that banks are starting to consider the fact that Bitcoin could be the future of finance. They have resisted, and even bashed it as a collective, but are now facing the reality that they can either adapt, or be left behind. You just know things are starting to get really serious for them to have made this 180. Either way, I welcome it, and if nothing else, I do believe that it's an indication that the future for Bitcoin is bright.

[krauzzer02]

He is the real fraud here, he buys 75 million worth of bitcoin then spontaneously bashing it to the public, making it clear that he is into something, the motives are selfishly undeniable that he wants a dip to buy a lot of coins then bash again to dip it then the cycles continue as long as people bite to this FUD's he never really stops for doing it. Well, it looks like your fraud are going to 10k or more by the end of this year so what's the magic word that you will tag? I'm really excited to hear and see what are his review for this pump.

Bitcoin=Blockchain=Future

That's cool mathematical formula, I have one also: BTC+ETH=Future*blockchain=Monetary Innovation

[Alns]

It is not a fraud mate, it is only speculation, they all knew that bitcoin is going to be the new revolution of money, and we all agree with that.

But it is not going to replace fiat, no matter what, and that is the main reason of why all those banks and governments, and of course, all those ceo's from different companies are now supporting bitcoin, because they want more money, and of course, more power.

And yes, the price is going to be much more higher than now, it is just matter of time until we can see another big bull trend on the market (wow, we are into one right now) but lets just wait. i dont think that all this thing from the CME is dangerous.