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Author Topic: JPMorgan is launching its own cryptocurrency  (Read 266 times)
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February 22, 2019, 09:49:45 AM
 #1

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days.

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February 22, 2019, 10:34:19 AM
Last edit: February 22, 2019, 02:54:11 PM by deisik
 #2

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days

Where did you get that from?

Not that I assert they couldn't do that (technically speaking), I just don't see any sense in this effort. If they wanted to create private money (which as I suspect would be outright illegal in most jurisdictions around the world) backed up by hard assets like gold, diamonds or whatever, they could just go with receipts or certificates. But in that case they don't need the blockchain technologies as such. So what's the point? Are they riding the buzz or what?

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February 22, 2019, 01:13:33 PM
 #3

Actually we have too many threads about this, if you have seen those threads on Press you don't need to create this one.

(https://bitcointalk.org/index.php?topic=5110848.0)
(https://bitcointalk.org/index.php?topic=5112753.0)
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February 22, 2019, 01:45:53 PM
 #4

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days.
Finally, after making a story of claiming that he is Satoshi finally show the real colors of making a scene.
This is what I'm talking about why he keeps claiming without valid proof to show to the people.

Quote
Reading that article makes me laugh because i don't know if it is real or nah, they were just part of it trying to catch someone's attention again. lol



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February 22, 2019, 03:49:45 PM
 #5

Quote
Reading that article makes me laugh because i don't know if it is real or nah, they were just part of it trying to catch someone's attention again. lol

Guess it's settled that it's no crypto but more like their own internal blockchain. Not surprised that they saw the benefit. Still pretty hilarious after all this guy said to diss bitcoin and cryptos in general.

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February 22, 2019, 05:57:48 PM
 #6

No they are just trying to get the transactions cheaper.

Right now, they are not looking for cryptocurrency, they are working on a blockchain project simply because they want to send and receive money for cheaper than what they are doing right now.

That means they will not create something that is backed by something, no they are going to build a blockchain that would allow them to move their money around faster and cheaper than the options they have right now.

That is exactly the reason why bitcoin was started, so that people could have money that belongs to them and can't be controlled by others, JP Morgan just wants that same system but only for their own company so a smaller version of it. It is not the perfect idea but its still better than the current system in place.

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February 22, 2019, 07:16:15 PM
 #7

Right now, they are not looking for cryptocurrency, they are working on a blockchain project simply because they want to send and receive money for cheaper than what they are doing right now.

i seriously doubt that it has anything to do with what you just said here. of course it may be one of the hundreds of reasons that they did this but it certainly is not the main or among the biggest reasons.

i believe that the main reason they did this was because they didn't want to fall behind from the evolution that is currently going on. every real expert out there has already pointed out that bitcoin is growing and in the future it has a good chance of becoming a widely used currency. so any bank that starts getting involved with the "technology" even as a competitor would be 100 steps ahead of the rest of the banks in a couple of years that bitcoin grows and puts most of them out of business.

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February 22, 2019, 07:29:53 PM
 #8

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days.

Even Google is working on making their own private blockchain buddy. We will not agree and accept anyone fame person words as it is! Finally now there are in launching the JPM coin it is really does not require here in this industry. There are many emergence people who are all here to lead the crypto world.

If many number of boycott his coin and his crypto based projects then again he will be sharing the critics about the bitcoin and etc. We need to ignore and never mind about them.
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February 22, 2019, 08:31:15 PM
 #9

No they are just trying to get the transactions cheaper

Could you explain how it is going to work out in practice?

After all, Bitcoin has been around for over 10 years, and I guess this is sufficient amount of time to understand the technology. In other words, if it could actually contribute to make any transactions faster and cheaper (in case you refer to fiat transactions), that would have been done long ago already

Bitcoin is decentralized money while fiat is centralized one, and whenever trust is not an issue, fiat will beat cryptocurrencies in terms of efficiency. When two parties trust each other, they don't need the network to confirm their transactions as these will be considered "confirmed" once they have been made (i.e. reported as made)

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February 22, 2019, 08:43:14 PM
 #10

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days.
We understand what are they gonna create and how it is similar to cryptocurrency. The only purpose for creating new digital coins after changing so many ideas can be to earn more money. As you said, it will be backed up with valuable something and will avaible for ''biggers''. Anyway I do not think it has a similarity with crypto.

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February 22, 2019, 09:00:01 PM
 #11

JPMorgan it's launching it's own cryptocurrency but as far as the information in the press says, it is going to be different from bitcoin or other coins. That's because JPMorgan's coin will be running on its own blockchain, meaning the creator will have full control over it and not everyone will be able to use it.

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February 22, 2019, 09:03:47 PM
 #12

Quote
Reading that article makes me laugh because i don't know if it is real or nah, they were just part of it trying to catch someone's attention again. lol

Guess it's settled that it's no crypto but more like their own internal blockchain. Not surprised that they saw the benefit. Still pretty hilarious after all this guy said to diss bitcoin and cryptos in general.
I don't like this company and I don't trust them. They did what they could to push the prices down, and now they decided to benefit from blockchain, attempt to compete with unregulated true cryptos (I hope theirs fails regardless to their regulations) and even take the credit for pulling up the prices (see https://bitcointalk.org/index.php?topic=5112491)!
Right now, they are not looking for cryptocurrency, they are working on a blockchain project simply because they want to send and receive money for cheaper than what they are doing right now.

i seriously doubt that it has anything to do with what you just said here.
Well, I am on the opposite pretty sure that's the main reason. Why? Because others have been doing it as well (I can't find the examples of the banks, even though I remember reading articles about them before, but here are some general articles on this matter: https://www.bookingbug.com/blog/what-blockchain-will-mean-for-banks/, https://hackernoon.com/how-blockchain-is-changing-money-transfers-e9cb85e94932 ), and because the banking international fees are really significant, so reducing them is certainly among priorities.

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February 22, 2019, 09:41:23 PM
 #13

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days.

We all know for a long time that JPMorgan lied from the beginning. All banksters hate cryptocurrency, because there is no need for a trusted third party - so banks. JPMorgan are hypocrites who want to create a fake coin - something similar to a ripple, so it will only be their toy for speculation, nothing more.

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February 22, 2019, 11:00:30 PM
 #14

JPMorgan it's launching it's own cryptocurrency but as far as the information in the press says, it is going to be different from bitcoin or other coins. That's because JPMorgan's coin will be running on its own blockchain, meaning the creator will have full control over it and not everyone will be able to use it.
Yes right, I am increasingly convinced that JPM coin is not a Cryptocurrency but only a Shitcoin created by people who only want to make fake coins, because a lot of the information I read in the article about JPM coin is only Shitcoin.

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February 22, 2019, 11:10:03 PM
 #15

Before they said this they were speaking that Bitcoin and everything related to crypto is fraud, now they say this "Cryptocurrency was supposed to replace banks in the long run".  Never liked the at all but This could influence in current price on market, they are good on what they do after. Or this could be some marketing trick for JPM for there own blockchain platform. As they say it will be backed up with diamond and gold but if will be only for business customers.

Not many lines or articles are online for the moment but hopefully it will be in next few hours or days.

We all know for a long time that JPMorgan lied from the beginning. All banksters hate cryptocurrency, because there is no need for a trusted third party - so banks. JPMorgan are hypocrites who want to create a fake coin - something similar to a ripple, so it will only be their toy for speculation, nothing more.
Well said!

JP morgan had made some positive and negative inputs to Bitcoin and with that it would really be hard for us to believe on the things they would try to introduce and
now they are creating their own coin which i do believe and see that it would really be just similar to XRP. We might say that this coin might not get any interest but would possible
to reach up the same reputation or ranking with XRP.Who knows.?

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Farahtenan
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February 23, 2019, 02:05:46 AM
 #16

JPMorgan it's launching it's own cryptocurrency but as far as the information in the press says, it is going to be different from bitcoin or other coins. That's because JPMorgan's coin will be running on its own blockchain, meaning the creator will have full control over it and not everyone will be able to use it.
Yes right, I am increasingly convinced that JPM coin is not a Cryptocurrency but only a Shitcoin created by people who only want to make fake coins, because a lot of the information I read in the article about JPM coin is only Shitcoin.

The creation of the coin is indeed good while being able to promote blockchain can also have an impact on crypto, even though it was pessimistic. The use of JPM is limited so that it will only provide space for the community. We will see the development of JPM and will they be able to achieve their goals?
elda34b
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February 23, 2019, 05:01:11 AM
 #17

@Farahtenan I'm not sure they're really using blockchain, or even if they did it's maybe a private blockchain. That doesn't bring anything good for the market except probably fueling another speculative sentiment. Anyway, I no longer trust JPMorgan.

                                                                               
                 
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expertofexperts
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February 23, 2019, 05:11:13 AM
 #18

And they were among those who criticized crypto to extend they can. Soon you will find Warren Buffet will go after investing huge in btc. He was also major criticizer of cryptos.
orions.belt19
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February 23, 2019, 05:21:36 AM
 #19

Quote
Reading that article makes me laugh because i don't know if it is real or nah, they were just part of it trying to catch someone's attention again. lol

Guess it's settled that it's no crypto but more like their own internal blockchain. Not surprised that they saw the benefit. Still pretty hilarious after all this guy said to diss bitcoin and cryptos in general.

It’s true, they’ve said so much at first and made many criticizations. I find it ironic that they’ve decided to adopt the technology. But it’s no surprise since blockchain technology really is remarkable. I guess at first they made such comments so that in the public they would like they were right and superior. So that crypto won’t be a threat to them, they have done such actions. Everything’s probably just a publicity act.
judyrob
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February 23, 2019, 07:38:50 AM
 #20

@Farahtenan I'm not sure they're really using blockchain, or even if they did it's maybe a private blockchain. That doesn't bring anything good for the market except probably fueling another speculative sentiment. Anyway, I no longer trust JPMorgan.


JPM, which was initially very sensitive to crypto, but finally launched crypto tokens, JPM Coin was only for the community and it was very limited, while Crypto gave free space to anyone who participated in crypto technology. I also don't believe in JPM, all of this doesn't seem to stand long.
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