JPM Coin

[spngebob]

What does everyone think about the new JPM (JP Morgan) Coin? Is this an attempt to adopt true decentralization or is this just another money grab by the greedy banking system? I find it intriguing that their CEO has been nothing but critical of bitcoin and cryptocurrencies. Curious to hear everyone’s thoughts.

Banks and decentralization doesn't go together in one sentence.
The moment JPM start promoting their coin in bitcointalk will be the moment I will leave this forum, but that probably won't happen. That is my opinion on their coin.

[jimskiy]

JP Morgan created new coin JPM coin, we will see how much interested by investor to buy and invest at JPM coin, how much their coin will sold out on ico time, will be investor buy all in of JPM coin or not, interested for waiting how this coin could be grow up or not.

[keanne_isaac]

What does everyone think about the new JPM (JP Morgan) Coin? Is this an attempt to adopt true decentralization or is this just another money grab by the greedy banking system? I find it intriguing that their CEO has been nothing but critical of bitcoin and cryptocurrencies. Curious to hear everyone’s thoughts.

I dont think JPMorgan create jpm coin to earn more money for it. They create it to be competitive with the current blockchain technology and its price is 1:1$ and it is a stable coin and available only internally so i think it could  not draw negative impact to crypto market as a whole since its price is fixed.

[nreal]

JPM coin is simply a coin used internally in JPMorgan's system, and it is only for large customers. That is, most of us will not have the opportunity to use it.

[Caladonian]

JPM coin is simply a coin used internally in JPMorgan's system, and it is only for large customers. That is, most of us will not have the opportunity to use it.

They are simply testing the functionality of blockchain and try the advantage of the system, if they prosper for sure it will make it quicker for them
to do transactions and the business will flow perfectly, it will affect cryptocurrency as it is a good way of advertising the chain, JP morgan would not
take the risk without studying the consequence.

Surely They have additional plan just in case things won't work right, but if this will bring them huge money the impact will also be felt around the crypto community.

[mjacer]

The JP Morgan's new coin operates privately and will be used for money transfers between the lender and its clients.  According to the article, it would not operate on a public network in the same way that cryptocurrencies do.  All users of this coin must be approved by JP Morgan.

[puremage111]

I don't get why would they need to have their own coins except for getting more funds or transfer/remittance money faster

But if thats the reason, they could just remitt with ripple, why their own coin hmm

[Jpti]

We cannot be always that much of critical about cryptocurrency. The former critic of cryptocurrency is itself turning to digital currency, and it is good new for the entire world of cryptocurrency. We may see this attempt from a positive angle. Relevance and importance of cryptocurrency is increasing far and wide, and it will make its strongest presence across the world over time. 

[Thomas-s]

They just understand that cryptocurrency threatens to their existence very much and they try to protect themselves

[mrdeposit]

What does everyone think about the new JPM (JP Morgan) Coin? Is this an attempt to adopt true decentralization or is this just another money grab by the greedy banking system? I find it intriguing that their CEO has been nothing but critical of bitcoin and cryptocurrencies. Curious to hear everyone’s thoughts.

There will only be a digital currency that can benefit the bank itself and will not positively influence to the market. It is like another state that was set up at another planet. Anyway if it will have an effect, it will cause prices to fall. 

[zulfi125]

As the news is circulation by JP Morgin,it will be centralize coin because banks will not allow to decentralization of JPM Coin.

[xianbits]

I don't think it is available externally, sounds like it is an internal coin that they will use within the company for money transfer. One dollar is tied to 1 JPM so it's not for investing in, unless they decide to change it into a ripple type coin

If it's really that thing, then JPM is no more than a stable coin. What profit could we get from it unless it will be traded under a JPM market traded with a number of fluctuating crypto.

[EscrowService28]

What does everyone think about the new JPM (JP Morgan) Coin? Is this an attempt to adopt true decentralization or is this just another money grab by the greedy banking system? I find it intriguing that their CEO has been nothing but critical of bitcoin and cryptocurrencies. Curious to hear everyone’s thoughts.

Actually, I was amazed when I heard of this. This is literally the first ever Crytpcurrency created by a banking institution. Somehow, it is securing to think that is created by a bank.
They are experimenting with the usage of blockchain for instant cross-border payments and the use for its corporate debt insurance business.

[Natalim]

I don't think it is available externally, sounds like it is an internal coin that they will use within the company for money transfer. One dollar is tied to 1 JPM so it's not for investing in, unless they decide to change it into a ripple type coin

If it's really that thing, then JPM is no more than a stable coin. What profit could we get from it unless it will be traded under a JPM market traded with a number of fluctuating crypto.

It's a stable coin according to the article I read, but if it will be traded in crypto like any other coins then it will still give a good effect to the market.
People would not enjoy it's volatility since it's a non volatile asset, but the new people it will bring to the market will give positive effect in terms of adoption.

[Commitments]

How interested by investor at JP morgan coin, will be many investor make invest at their coin or not, we have wait how the future of JP morgan coin because we will see is profit for investing or not.

[befriendmywater]

What does everyone think about the new JPM (JP Morgan) Coin? Is this an attempt to adopt true decentralization or is this just another money grab by the greedy banking system? I find it intriguing that their CEO has been nothing but critical of bitcoin and cryptocurrencies. Curious to hear everyone’s thoughts.

I think that's both 2. when JPM enters the crypto market, it will also have a lot of benefits because the trading volume of the crypto market is up to several billion dollars per day. that will increase their revenue further and they still have room for greed for some tax related things.
participating in the crypto market will bring many benefits to JPM.

[Kevin77]

I still think even though I hate ripple to my core this new blockchain method that JP Morgan will use is nothing better than ripple, they could have just went with ripple if the blockchain technology all they care about for their transactions. It would be cheaper and faster and would yield about the same result. Working on creating a system from ground up would be a lot more expensive and will come with a lot of troubles (bugs and glitches and so forth) that they will need to fix whereas ripple already figured those out and works perfectly.

Of course it will not be as simple as just building a blockchain and in the long run (lets say 20 years) they will say they are glad they switched but for now it is not a major news for bitcoin or crypto in general since its only on its baby steps, we need to see it work perfectly before we can say this is what blockchain can change even in huge companies.

[ujinice]

Probably we will not see any decentralization as in the case of XRP and Stellar, this is another attempt to digitize the dollar. A completely useless coin for the crypto community, but without a doubt it will be in demand as a speculative tool.

[SafeSpell]

AOL onboarded millions of Americans to the internet. Eventually people wanted more freedom and without the bloat (not so much these days, but I digress). Let JP Morgan, etc make it something that the consumer uses regularly, then they may come to appreciate the value of decentralized alternatives.

[xianbits]

I don't think it is available externally, sounds like it is an internal coin that they will use within the company for money transfer. One dollar is tied to 1 JPM so it's not for investing in, unless they decide to change it into a ripple type coin

If it's really that thing, then JPM is no more than a stable coin. What profit could we get from it unless it will be traded under a JPM market traded with a number of fluctuating crypto.

It's a stable coin according to the article I read, but if it will be traded in crypto like any other coins then it will still give a good effect to the market.
People would not enjoy it's volatility since it's a non volatile asset, but the new people it will bring to the market will give positive effect in terms of adoption.

So it means to me, they are just taking advantage of JP Morgan's popularity. They might believe a lot of people will invest in them since JPM is an influential individual. I would like to say, we already have ripple with (I think) the same function.