[2018-01-09] JPMorgan CEO Makes Unclear Statements On Bitcoin and Government ...

[cybersofts]

JPMorgan CEO Makes Unclear Statements On Bitcoin and Government, Suddenly Likes Blockchain



Today, Jan. 9. the Chairman & CEO of JPMorgan Chase, Jamie Dimon, spoke ambiguously about cryptocurrency, noting he regretted calling Bitcoin a “fraud” earlier, and was not particularly interested in the subject. He made his comments in an exclusive interview with Fox Business at the JPMorgan Health Care Conference in San Francisco.

In September 2017 at a banking conference, Dimon called Bitcoin a "fraud" and said that he would fire any JPMorgan employee who traded Bitcoin on the company’s accounts, in part for being “stupid”.

He also told Fox Business today that he “regrets” making the September comments, but is “not interested that much in the subject at all.”

However, despite his lack of interest, Dimon made an ambiguous statement about the government’s relationship to Bitcoin, telling Fox Business:

    “The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people.”

Though it is unclear exactly what Dimon intended to say with these words, in the context of his earlier comments on the subject from 2015, he may have meant that cryptocurrency would eventually become fully government-controlled.

In 2015, responding to a question about the potential for a decentralized “shadow economy” of cryptocurrencies, Dimon stated more clearly:

    “It’s just not gonna happen, you’re wasting your time. This is my personal opinion. There will be no real non-controlled currency in the world. There’s no government that’s gonna put up with it for long.”

During the Jan. 9 interview with Fox, Dimon asserted, as he did in 2015, that the viable digital currencies will be those that are government-backed, or fiat, such as a digital yen or dollar:

    “You can have crypto yen and dollars and stuff like that. ICO's you have to look at individually.”

Dimon seemed optimistic about Blockchain technology, noting:

    “The blockchain is real.”

In 2017, multiple governments around the world announced that they were considering implementing a national digital currency. Others, such as Venezuela, have already done so.

An earlier version of this article implied that Dimon's 2015 statements were in fact made Jan. 9, 2018. The text has been edited to clarify timing. We apologize for any confusion.


Source: https://cointelegraph.com/news/jpmorgan-chase-ceo-all-crypto-will-be-government-controlled

[Kakmakr]

Jamie Dimon did not make a 360 for no reason. I think his daughter <Bitcoin owner & supporter> and some of his employees might have influenced his decision. In the US, Bitcoin is defined as a commodity and Bitcoin has been the best performing commodity for the last two years. If you ignore that, then you should not be in his position in the financial world.

Yes, he will support Blockchain technologies, because they <the Banks> can exploit it for more profits, by building their own private Blockchains. ^grrrrrrr^

[8270thNinja]

Finally, He can now see that there is money in Bitcoin and in Blockchain. In Business, you should know how to surf the waves and make profit from it, Jamis Dimon is now acknowledging the trend and gearing up his mind on creating different Businesses with the integration of Blockchian, which makes me excited because it will help the CryptoCommunity and may open up a lot jobs that can attract the different Countries/Government that banned Bitcoin/CryptoCurrencies.

[igordemin]

In my oppinion, such huge financial organisation, like JPMorgan can't exist without connection tothe government. Especially after recent financial crysises. So I think this change of oppinion may be a result not just a change of his personal oppinon, but a change in oppinion of US government.
Or I'm too paranoid?

[jseverson]

Are people still actually listening to Jamie Dimon? Wasn't JPMorgan caught buying dips? Lol. That should give us an indication as to how Dimon really feels about Bitcoin.

Either way, this regret statement seems to set him up for a 180 sometime in the future. For someone who doesn't care about the subject, he seemed to have strong feelings against it a few months ago.

   “It’s just not gonna happen, you’re wasting your time. This is my personal opinion. There will be no real non-controlled currency in the world. There’s no government that’s gonna put up with it for long.”

I agree with him, at least in the governments' resistance to uncontrolled currencies. They are already starting to test the waters with regulations. I don't want to use the word control, because they obviously can't control Bitcoin, but it remains to be seen how much they can directly influence it.