JPMorgan Launches JPM Coin, World’s First Bank to Launch Cryptocurrency

[abhinav94]

World’s First Cryptocurrency By Bank

Announced on Feb 14, 2019, JPM Coin’s headline surprised many crypto enthusiasts – since, in last few years, the name of JPMorgan’s Jamie Dimon appears on headline while criticizing the largest cryptocurrency, bitcoin. In fact, CEO Jamie Dimon called Bitcoin as a ‘fraud’. However, few Engineers at Bank have rolled a new coin on Bank’s name which intends to transfer the minimum payment in initial.

Read Here - https://coingape.com/jpmorgan-launches-jpm-coin-first-bank-launch-cryptocurrency/

[1715379853]

1715379853

[proTECH77]

For JPMorgan to come to the lime light of cryptocurrency make it clear to me that, there is much potentials on the Blockchain which is unspoken about. JPMorgan was know by his dooms and criticism against cryptocurrency particularly Bitcoin as a fraud which amounted Bitcoin to drop drastically. JPM Coin will be a better ideal but not sure will attract many investors because of the centralize platform the ideology is based. Just my own opinion.

Anythings is possible imagine "JPMorgan"

[kryptqnick]

World’s First Cryptocurrency By Bank

Announced on Feb 14, 2019, JPM Coin’s headline surprised many crypto enthusiasts – since, in last few years, the name of JPMorgan’s Jamie Dimon appears on headline while criticizing the largest cryptocurrency, bitcoin. In fact, CEO Jamie Dimon called Bitcoin as a ‘fraud’. However, few Engineers at Bank have rolled a new coin on Bank’s name which intends to transfer the minimum payment in initial.

Read Here - https://coingape.com/jpmorgan-launches-jpm-coin-first-bank-launch-cryptocurrency/

Well, it's not very surprising. They must've been criticising cryptocurrencies trying to dump the prices as well as fight decentralization and free market. Now they hope to benefit from the technology and keep it under control at the same time. The true cryptos pose a threat to banking system, so JPMorgan contributes to the bearish trend when it's able to do so. A regulated crypto, on the other hand, is potential profits. I hope the coin will not be taken seriously and will lead these scammers (see https://www.nytimes.com/2017/12/21/business/jpmorgan-money-laundering.html, https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/ and https://www.finextra.com/pressarticle/76846/hong-kong-central-bank-fines-jpmorgan-chase-for-money-laundering-failures) to their slow death.

[keyscore44]

Recently, JPMorgan CEO once again claimed that Bitcoin is a scam. I am curious on which blockchain platform will be created this coin.  
However, as I know banksters, they will probably do a Ripple clone and again it will be fake cryptocurrency.

[Yaunfitda]

I'm not surprised by this move, they have been attacking bitcoin in the past and now everything is really unfolding as they have their own agenda from behind, take advantage of the technology behind and then have their own crypto.

I'm sure that this will be private but it's really ironic, how those bankers are very hostile in the past and now realizing the true potential of blockchain technology and using it and try to look they're fully supported crypto's. lol.

[X7]

World’s First Cryptocurrency By Bank

Announced on Feb 14, 2019, JPM Coin’s headline surprised many crypto enthusiasts – since, in last few years, the name of JPMorgan’s Jamie Dimon appears on headline while criticizing the largest cryptocurrency, bitcoin. In fact, CEO Jamie Dimon called Bitcoin as a ‘fraud’. However, few Engineers at Bank have rolled a new coin on Bank’s name which intends to transfer the minimum payment in initial.

Read Here - https://coingape.com/jpmorgan-launches-jpm-coin-first-bank-launch-cryptocurrency/

https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html     <-- another source citing this same information.

Interesting times.

[DeathAngel]

Pointless centralized coin, leave me out. Not interested at all. Banks are clearly worried about bitcoin so are attempting to punt their own shitcoin via the blockchain.

It won’t work.

[angel55]

No serious crypto investors will be insterested in this coin.  Just another centralized scam that isn't even a real cryptocurrency.  They will probably give up when they realize no one is interested in their shitcoin.

[pawanjain]

World’s First Cryptocurrency By Bank

Announced on Feb 14, 2019, JPM Coin’s headline surprised many crypto enthusiasts – since, in last few years, the name of JPMorgan’s Jamie Dimon appears on headline while criticizing the largest cryptocurrency, bitcoin. In fact, CEO Jamie Dimon called Bitcoin as a ‘fraud’. However, few Engineers at Bank have rolled a new coin on Bank’s name which intends to transfer the minimum payment in initial.

Read Here - https://coingape.com/jpmorgan-launches-jpm-coin-first-bank-launch-cryptocurrency/

I always considered Jamie Dimon to be a double sided player. Though he always used to criticize bitcoin, he also has a good amount of bitcoins stored in his wallet.
I wonder what would JPM coin would bring us because if it is just another cryptocurrency then I am sure that it won't rise much and will be pumped and dumped soon.
All of this FUD won't last longer if JPM coin has no real value. Any such coin with no potential often tends to dump very soon in the crypto market.

[Upgrade00]

I do not listen to the FUD of financial experts regarding bitcoin and other cryptocurrencies, same way I also ignore their shills. This is an adoption of the blockchain and not bitcoin, and they are modifying it to be centralized and controlled, nothing to get really excited about.

[Kemarit]

World’s First Cryptocurrency By Bank

Announced on Feb 14, 2019, JPM Coin’s headline surprised many crypto enthusiasts – since, in last few years, the name of JPMorgan’s Jamie Dimon appears on headline while criticizing the largest cryptocurrency, bitcoin. In fact, CEO Jamie Dimon called Bitcoin as a ‘fraud’. However, few Engineers at Bank have rolled a new coin on Bank’s name which intends to transfer the minimum payment in initial.

Read Here - https://coingape.com/jpmorgan-launches-jpm-coin-first-bank-launch-cryptocurrency/

I always considered Jamie Dimon to be a double sided player. Though he always used to criticize bitcoin, he also has a good amount of bitcoins stored in his wallet.
I wonder what would JPM coin would bring us because if it just another cryptocurrency then I am sure that it won't rise much and will be pumped and dumped soon.
All of this FUD won't last longer when if JPM coin has no real value. Any such coin with no potential often tends to dump very soon in the crypto market.

It won't bring any to the table, as others have said, this is a centralized and bankers coins so I doubt that crypto enthusiast will join the bandwagon wagon. It's pretty obvious that Jamie Dimon is a manipulator, just remember this statements before specially in Sept 2017 wherein he went on a full attack but secretly their companies are buying huge amounts of bitcoin during the massive sell-off. And I'm sure majority of us remember that and so almost everyone will not be interested on this coin.

[Wasimalik]

Yea, just heard of this big news JPMCOIN is coming and i think it will be huge for whole crypto world. More exciting stuff to come this year.

[electronicash]

doesn't come a surprise though. jesus they betrayed themselves lol they call btc a scam all the time and yet creating their own cryptocurrency. what a victory. if its a stablecoin then its meant to scam. i wanna hear jaime defend themselves when someone fianlly shouted scam at them soon about thier coin being scam   can't wait for that.

[metalglowd]

No serious crypto investors will be insterested in this coin.  Just another centralized scam that isn't even a real cryptocurrency.  They will probably give up when they realize no one is interested in their shitcoin.

It seems like.. that if we see the coin only brought JP Morgan's name, but not prioritize the purpose of the coin. Just like the Alibabacoin case a few months ago, the hype was high because of the name "Alibaba". It seems like the same thing will happen here.

[tomahawk9]

Irrelevant news for the crypto market. A cryptocurrency created by a multinational is nothing but a centralized shitcoin.

If anything, this coin will compete directly with SWIFT. It also means that XRP will have more competition, in this case, the new player will be a well-established company with tons of clients worldwide (banks, big corporations and financial institutions) that would rather use JPM coin for internationals payments and whatnot rather than Ripple's services. In other words: XRP bagholders, I think it's time to sell.

I wonder what would JPM coin would bring us because if it just another cryptocurrency then I am sure that it won't rise much and will be pumped and dumped soon.

This coin won't be like the usual cryptocurrency that you're used to, this will be used by big corporations, not for people to invest and wait for the pump to dump.

[bartolo]

Their “do not smoke” strategy hasn't worked, so they have decided to sell their own cigarettes. I always thought they were spreading FUD over bitcoin in an attempt to push down the price and buy cheap, now it seems they had other motivations.

[KingScorpio]

World’s First Cryptocurrency By Bank

Announced on Feb 14, 2019, JPM Coin’s headline surprised many crypto enthusiasts – since, in last few years, the name of JPMorgan’s Jamie Dimon appears on headline while criticizing the largest cryptocurrency, bitcoin. In fact, CEO Jamie Dimon called Bitcoin as a ‘fraud’. However, few Engineers at Bank have rolled a new coin on Bank’s name which intends to transfer the minimum payment in initial.

Read Here - https://coingape.com/jpmorgan-launches-jpm-coin-first-bank-launch-cryptocurrency/

JP Morgan was created as an institution that was supposed to serve the people, not live off them.

if no one wants to lend, and not enough want to work hard for us dollar.

its time to shut it down,

i am expecting many glass palaces in the united states though.

[thecodebear]

Some of you are talking about how crypto investors won't be interested and won't support it and won't be picked up by the market.

Just to be clear, this is a private coin used only to facilitate money transfers for JP Morgan clients. It has nothing to do with the cryptocurrency market.

It is a stable coin that won't be used by the general public. It's a private centralized coin to be used internally by their business to replace JP Morgan's use of SWIFT and wire transfers and whatever legacy money transferring technology they normally use. It has nothing to do with crypto investors, or public coins (be they stable coins or bitcoin or whatever).

It is basically a competitor to Ripple but its only for use by JP Morgan. JP Morgan though apparently moves money for like 80% of the Fortune 500. Basically this is probably the first nail in the coffin for Ripple as banks will probably just end up using bank backed stable coins created by themselves rather than give their money transferring business over to Ripple.

It is hilarious that after years of Jaime Dimon attacking Bitcoin and cryptocurrencies they now release their own cryptocurrency. But now we know without a doubt their intent and purpose in bashing bitcoin - they hate the fact that it is a public good for the people. They don't believe in money that isn't centrally controlled by the banks. JPM Coin is centrally controlled by JP Morgan, that is what they believe in. They are afraid of open currencies like bitcoin. The ruse is finally 100% up now that they've shown all their cards by making their own cryptocurrency.

If anything this is a bold-lettered proclamation about bitcoin's relevance and power. JP Morgan is admitting cryptocurrencies have huge advantages over the legacy financial system and will be the future of money (even if the marketing behind their claim is that only coins they control are good). This proves bitcoin's use case - to be a public good that revolutionizes personal finance for the 7+ billion people in this world. This admission by one of the biggest banks in the world is probably one of the loudest bullish announcements for bitcoin's future ever. Major bank now backs cryptocurrency, bitcoin is the primary cryptocurrency for the public, the banking system (through JP Morgan) is saying bitcoin is the future.

[BestSSS]

This is not surprising, I think all these critics and negative about bitcoin and other crypto-currencies are more created to enter this market knowing that this is a gold mine. JPMorgan artificially criticized bitcoin not to go to the Hai, and now when the price has settled down after a frenzied growth is the time to buy.
By creating your coin Bank has the potential to earn another couple of billion dollars on this, why not try...

[stortz]

it's afraid