Why JP Morgan CEO Jamie Dimon's comments are bullish

[T.Stuart]

Bitcoin has one of the most important bankers in the world very flustered. Why? He knows the potential and is scared stiff. This is bullish!

And what kind of criticism can he level at Bitcoin?

"Terrible store of money"

Bitcoin made more money than any other storage system on the planet in 2013.

“Used to fund illegal activities”

Silk Road was closed down ages ago. But anyway, it would appear that police all over the world prefer criminals to use Bitcoin over fiat – easier to track. Makes for a nice neat trail of evidence when a case comes to court. Come on Dimon, catch up!

"Governments put a huge amount of pressure on banks: know who your client is, did you do real reviews of that. Obviously it's almost impossible with something like that".

But Bitcoin businesses are crying out for regulation so they can get on with making money without worrying.

It is interesting to see the head of one of the biggest banks open up and expose his ignorance to the world. He's a year or more in the past. Anyone who knows anything about Bitcoin can see that either:

1. He doesn't get the concept at all.

2. He gets the concept and is scared.

I think it is the latter.

But what about his competitors? Wells Fargo is quietly gathering people as fast as it can. Why? To learn what's going on! They know they've got catching up to do.

I predict that many senior bankers with only a few years to go until their careers wind up will leave their profession without ever accepting Bitcoin. They will pretend it's bad or refuse to learn about it properly, a bit like an older relative refuses to use e-mail or a computer.

In my office there's an old guy who refuses to use a computer. Everything has to be on paper. He refuses to accept that a computer is useful. He loves the smell of paper. That's exactly the same with some of these bankers. Bitcoin is odourless; they love the smell of fiat too much!

Needless to say most sane people in the banking profession will grasp the enormity of Bitcoin as soon as it is explained to them. And they will want their bank to be ready.

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[tarmi]

I agree.

He is looking for cheap coins.

[T.Stuart]

I agree.

He is looking for cheap coins.

Ha ha! That's what I meant - thanks for putting it so succinctly! 

[proudhon]

I agree.

He is looking for cheap coins.

Ha ha! That's what I meant - thanks for putting it so succinctly! 

Not at all.  Dimon sees through all the good news FUD and confirms the bad news true facts as confirmed by verified sources.  In short, he's just telling it like it is and will be.  Thank you Dimon, I hope you have maximally leveraged SHOTR positions in place.  We will do well.

[T.Stuart]

I agree.

He is looking for cheap coins.

Ha ha! That's what I meant - thanks for putting it so succinctly! 

Not at all.  Dimon sees through all the good news FUD and confirms the bad news true facts as confirmed by verified sources.  In short, he's just telling it like it is and will be.  Thank you Dimon, I hope you have maximally leveraged SHOTR positions in place.  We will do well.

He he! I'm sure he's shotred as much as he can afford, and more! He will be so happy in the future.

[tarmi]

I am sure he will, with his golden BTC parachute.

[knightcoin]

[podyx]

haha gonna keep that one

[joulesbeef]

“Used to fund illegal activities”

lol the US dollar is the prefered currency for the entire worlds black markets.. BTC ISNT EVEN CLOSE.