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Author Topic: [2018-07-20]JPMorgan Bets On Bitcoin, Five Other Cryptos to Survive Long Term  (Read 138 times)
richardsNY
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July 23, 2018, 09:33:28 PM
 #21

The purpose of signaling in bitcoin has been abused by miners by making it a political tool, instead of a tool for showing readiness to fork.

Signalling in Bitcoin is nothing more than a bunch of big shots barking to 'prove' a point, where in case of Bitcoin they have no other option than to follow and go with what's better for the protocol. Miners aren't totally stupid, they only care about the price to sky rocket and have their mining rewards be as valuable as possible, and looking back, the price did sky rocket. Miners should be respectful and thoughtful, because they are the ones with millions and millions in hardware running all day long -- messing up Bitcoin means messing up their operational results and that's not something they will allow to happen....
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July 24, 2018, 08:23:56 AM
 #22

Multinational banking giants JPMorgan Chase is betting on six cryptocurrencies: Bitcoin, Ethereum, Ripple, Dash, Cardano and Litecoin to survive in the long term.

Strange selection.

The design fundamentals for Ethereum & Dash are pretty terrible, it's amazing they've survived this long (Dash probably only because there's so little transaction activity to abuse).

Litecoin is going to lose any small utility is has on a far shorter timeframe once Lightning becomes more developed & popular.

Ripple doesn't really have much of a use case; it's essentially a SWIFT/ACH competitor, but any problems in SWIFT or ACH-like networks will cause fiat to become less stable, making Bitcoin compare far more attractively (people have mostly heard of Bitcoin, however unsure they are of it, you can't say that for Ripple).

And Monero's not on the list? Strange list (never looked at Cardano, anyone know something about it?)

Maybe because the ETH and Dash have good community support.
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July 24, 2018, 08:53:58 AM
 #23

What is this a sudden change of heart? On the first part of 2018 we have seen news regarding their CEO, Jamie Dimon, calling their employees stupid if they buy such cryptocurrencies and now they have some "bets" in the market. What you are seeing is the classing bash and buy where influential people will say trash and then buy it when it goes down. Obviously the company and the people behind it has maybe bought their fair share in the market and is now ready for the big price rally which I think will be happening soon.

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July 24, 2018, 08:27:41 PM
 #24

Bitpay are heading down a dead end with their continued disdain for BTC. It's only a matter of time before someone pops along who is actually interested in doing business rather than fulfilling Bitmain's doomed agenda.

They probably realized their whole business model is untenable. If Bitcoin/cryptocurrency actually sees mass adoption, nobody needs a payment processor. And what is that, 10 years out? Maybe less? They'll be looking like Pets.com. I assume that's why they only care about the immediate future (big blocks/cheap fees now).

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