JP Morgan completely changes its stance on bitcoin

[magneto]

Its funny how after releasing their own JPM coin JP Morgan have done a complete u-turn and are now endorsing cryptos (providing you still use a normal bank sevice of course). When JP Morgan slated bitcoin last year there was a sudden price drop. Even though they were caught buying bitcoin on the dip for their clients the facade was allowed to continue. Pretending to rubbish publicly something whilst secretly working on it is the oldest trick in the book and its sad that so many people still take taken in by this game. I suspect that any day China is going to declare its support for crypto and lift its ban even though we all know its working on blockchain projects in the background. It just means we have to wait longer for the price to go up I guess.

Here is the JP Morgan article
https://www.newsbtc.com/2019/03/20/jpmorgan-executives-flip-bullish-on-crypto-after-jpm-coin-release/

It's obvious that they are simply trying to do what is best for their corporation, which is often to give off the impression of something that you're not, or take a false stance.

It doesn't matter what other corporations think about bitcoin, no matter how large they are. This is the fundamental thing that most people are getting wrong, in my opinion, which is caring too much about what executives of certain companies have to say. The BTC network is decentralised for a reason, and that reason is exactly that of no one is able to ban, restrict, or manipulate the bitcoin network regardless of whether they're a centralised institution on a mass scale or not.

JPMorgan is probably only interested in BTC as a means of making profits, not so much so as an actual viable means of payment or currency. Thus, it is easy for them to shift stances like this, and it makes sense given that they are also somewhat invested in having a crypto venture at this stage. I would personally pay no close attention to any of this, because Dimon or other execs could come out tomorrow and say something completely different, should they change their own outlook regarding their crypto project.

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[Herbert2020]

OP seems to be one of those people who immediately believes what he hears/reads from the news. worst part is that any bitcoin-related news sources have always been so shitty with what they publish.
JPM never changed their stance about bitcoin, they continue bashing it BECAUSE they created the centralized shitcoin called JPCoin and the more they advertise that, they more they will continue bashing anything that doesn't belong to them or controlled by them which includes most other cryptocurrencies too.

[Kakmakr]

Do not be fooled by JP Morgan's public antics, because it is perfectly timed and orchestrated attacks on it's biggest competition. They have crunched the numbers and already saw how Blockchain based technologies can save them millions. The savings will end up in the shareholders pockets, so it is a easy sell for them to pitch this to the board.

It is not uncommon for big companies like this to do a 360 on decisions like this, because they want to mislead their competition with their public statements. A month ago IBM were saying good things about Bitcoin and now they are partnering with Banks to develop their own coin. 

[fiulpro]

They just want to regulate the Bitcoins price and since they have a say in the market and people actually think about what they said they use it in a very negative way.

Just because you have access to things like this doesn't mean you should misuse this but at the same time what do we have to prevent this on a large scale ?

We can only aware large section about the not so good tactics of people like them.

Its our choice to hold and sell , but interfering is super bad.
I recently stumbled upon this article

https://www.newsbtc.com/2019/03/22/report-bitcoin-and-crypto-markets-more-regulated-than-widely-thought/

' maybe we all can do something and let the normal flow of inflation and deflation run through the market .

[talkbitcoin]

They just want to regulate the Bitcoins price and since they have a say in the market and people actually think about what they said they use it in a very negative way.

https://www.newsbtc.com/2019/03/22/report-bitcoin-and-crypto-markets-more-regulated-than-widely-thought/

' maybe we all can do something and let the normal flow of inflation and deflation run through the market .

lets not confuse the market with bitcoin.
market is two parts the centralized part which is exchanges like Coinbase for example which has been regulated for ages. there is also a decentralized part of the network which is the P2P trades which is not and can not be regulated.
but all of that is only a small part of bitcoin itself. bitcoin on its own is still the same decentralized and unregulated payment system and it will remain that way.

[tippytoes]

Do not be fooled by JP Morgan's public antics, because it is perfectly timed and orchestrated attacks on it's biggest competition. They have crunched the numbers and already saw how Blockchain based technologies can save them millions. The savings will end up in the shareholders pockets, so it is a easy sell for them to pitch this to the board.

It is not uncommon for big companies like this to do a 360 on decisions like this, because they want to mislead their competition with their public statements. A month ago IBM were saying good things about Bitcoin and now they are partnering with Banks to develop their own coin. 

Bottomline, it is all about money. They can always change their stance on every situation that they are in as long as the company will benefit from it. And yes, they might have became aware that blockchain technology will significantly cut down their operational expenses. So they are just taking advantage of the situation to earn more for the company.

[Dreamchaser21]

OP seems to be one of those people who immediately believes what he hears/reads from the news. worst part is that any bitcoin-related news sources have always been so shitty with what they publish.
JPM never changed their stance about bitcoin, they continue bashing it BECAUSE they created the centralized shitcoin called JPCoin and the more they advertise that, they more they will continue bashing anything that doesn't belong to them or controlled by them which includes most other cryptocurrencies too.

That’s true, they will continue to create FUD news in this market because they want to attract investors to their own coin though they adopt cryptocurrency i can’t still see a support for bitcoin. Well, goodluck for JPMCoin i know they can’t still beat bitcoin. 

[xWolfx]

Its funny how after releasing their own JPM coin JP Morgan have done a complete u-turn and are now endorsing cryptos (providing you still use a normal bank sevice of course). When JP Morgan slated bitcoin last year there was a sudden price drop. Even though they were caught buying bitcoin on the dip for their clients the facade was allowed to continue. Pretending to rubbish publicly something whilst secretly working on it is the oldest trick in the book and its sad that so many people still take taken in by this game. I suspect that any day China is going to declare its support for crypto and lift its ban even though we all know its working on blockchain projects in the background. It just means we have to wait longer for the price to go up I guess.

Here is the JP Morgan article
https://www.newsbtc.com/2019/03/20/jpmorgan-executives-flip-bullish-on-crypto-after-jpm-coin-release/

It's pretty interesting when your opinion can change the actions of a lot of capable people, isn't it?

That of course affects a lot of things, because everyone else will probably follow them. Except of course they rivals who would try to compete and you can't blame them.

But this is extremely good for Bitcoin and Cryptocurrency in general. They might change it in the future to profit more, but seriously, Bitcoin still needs more time to mature - There's not rush yet.

[richminded]

Do not be fooled by JP Morgan's public antics, because it is perfectly timed and orchestrated attacks on it's biggest competition. They have crunched the numbers and already saw how Blockchain based technologies can save them millions. The savings will end up in the shareholders pockets, so it is a easy sell for them to pitch this to the board.

It is not uncommon for big companies like this to do a 360 on decisions like this, because they want to mislead their competition with their public statements. A month ago IBM were saying good things about Bitcoin and now they are partnering with Banks to develop their own coin. 

Bottomline, it is all about money. They can always change their stance on every situation that they are in as long as the company will benefit from it. And yes, they might have became aware that blockchain technology will significantly cut down their operational expenses. So they are just taking advantage of the situation to earn more for the company.

They have to or else no one will believe to them anymore. They can change it anytime they want, depends on the opportunity that they will grab, this market can be a great new place for them to attract investors and for sure they will try to do everything just to make their coin listed on much higher position.

[kodtycoon]

finally they want crypto by launching jpmcoin, they know the benefits but are anti- progress well cryptocurrencies are advances in technology that are increasingly sophisticated.
by the way benefits are much they know that, instead using bank services to collect funds from crypto its right but still they want crypto for benefit from being bullish I think not flipping

[clonely]

Its funny how after releasing their own JPM coin JP Morgan have done a complete u-turn and are now endorsing cryptos (providing you still use a normal bank sevice of course). When JP Morgan slated bitcoin last year there was a sudden price drop. Even though they were caught buying bitcoin on the dip for their clients the facade was allowed to continue. Pretending to rubbish publicly something whilst secretly working on it is the oldest trick in the book and its sad that so many people still take taken in by this game. I suspect that any day China is going to declare its support for crypto and lift its ban even though we all know its working on blockchain projects in the background. It just means we have to wait longer for the price to go up I guess.

Here is the JP Morgan article
https://www.newsbtc.com/2019/03/20/jpmorgan-executives-flip-bullish-on-crypto-after-jpm-coin-release/

Just like many financial institutions in JP Morgan, they are only aiming for profit. They invested in creating FUD. Now they're trying to get a share of the market.

[ethereumhunter]

OP seems to be one of those people who immediately believes what he hears/reads from the news. worst part is that any bitcoin-related news sources have always been so shitty with what they publish.
JPM never changed their stance about bitcoin, they continue bashing it BECAUSE they created the centralized shitcoin called JPCoin and the more they advertise that, they more they will continue bashing anything that doesn't belong to them or controlled by them which includes most other cryptocurrencies too.

I hope their plan will not succeed in the future and people will know who are they and will leave them alone. JPM can say anything but the important is we don't have to believe them before we research the truth.
I think that is normal for JPM says negative about bitcoin because he has a plan to use JPCoin as the best coin in cryptocurrency, but people will see the truth later. Meanwhile, we can search for other news about the market and let that news remain as news.

[Huskarls]

JP Morgan still sits by there stand against Bitcoin but not with the technology behind it, well I guess they putting the technology so that their reach can spread from the different part of the world.

Actually this kind is ironic enough to see JP Morgan's attitude towards Bitcoin, they opposed crypto but instead made their own version of coin. Even some people call their coins useless. Well for me i think they are just said the fact.

[coolcoinz]

Don't tell my you bought that whole charade by Jamie Dimon. Do you even know who this guy is? His father made a lot of money on Wall Street and pushed little Jamie up the ladder. But at least Jamie kept dad in the company until the end. Jamie is a socialist who likes to tell fake stories, like how he achieved everything all by himself. He's also a socialist. When asked what he would do if he were to become a president, he answered that he'd tax the rich and give money to the poor. He's so full of shit, like when he said Bitcoin is fake money and won't survive, and later admitted that his daughter is a crypto trader. It's hard to say if this guy is just bending the truth or straight up lying.
One thing is certain, he's making money in the process.

[Malsetid]

JP Morgan still sits by there stand against Bitcoin but not with the technology behind it, well I guess they putting the technology so that their reach can spread from the different part of the world.

Actually this kind is ironic enough to see JP Morgan's attitude towards Bitcoin, they opposed crypto but instead made their own version of coin. Even some people call their coins useless. Well for me i think they are just said the fact.

We can't yet tell whether their coin will be useless or not at this point since it usually takes time for any coin to really show it's value. But i agree with alosafidel58. These people know that blockchain will be the future so they adopt the technology that runs bitcoin. These people know how the money industry works and damn if they don't get themselves into blockchain.

[kingpin4321]

JP Morgan is a business man and the number one priority of a businessman is to promote his business that why I do not pay apt attentions to most of there postulation because more often than not its just to promote or shill their project

[Beerwizzard]

JP Morgan still sits by there stand against Bitcoin but not with the technology behind it, well I guess they putting the technology so that their reach can spread from the different part of the world.

Actually this kind is ironic enough to see JP Morgan's attitude towards Bitcoin, they opposed crypto but instead made their own version of coin. Even some people call their coins useless. Well for me i think they are just said the fact.

We can't yet tell whether their coin will be useless or not at this point since it usually takes time for any coin to really show it's value. But i agree with alosafidel58. These people know that blockchain will be the future so they adopt the technology that runs bitcoin. These people know how the money industry works and damn if they don't get themselves into blockchain.

I'm sure that it is gonna be some stablecoin that will allow people to send fast one-way international transactions and those  coins would be backed by the bank. In this case banks would be able to awoid all those swift bullshit.
So if you want to speculate on their coin and get some profit then it will be useless for you.

[figmentofmyass]

Its funny how after releasing their own JPM coin JP Morgan have done a complete u-turn and are now endorsing cryptos (providing you still use a normal bank sevice of course).

i wouldn't put it that way at all. back in 2017, JPM analysts were saying that bitcoin might become a traditional store-of-value asset like gold: https://www.telegraph.co.uk/business/2017/12/04/bitcoin-could-new-gold-says-jp-morgan/

like stablecoins, their coin is probably aimed at sucking in collateral they can rehypothecate or profit from via trading commissions. i'd say their approach is further confirmation that they think crypto markets will continue to grow.

[maxreish]

JP Morgan seems to be convinced that cryptocurrency will be a good investments. That is why it was easy to change his mind and create his own coin. He has a positive outlook throughout of his studies about crypto. Therefore, he has a critical expressions about bitcoin before, here he is now. Already a part of this kind of technology promoting his own crypto coin and supporting bitcoin.

[PlusOne88]

It always happen to people that are too proud of themselves and their intelligence. The result is that they eat what they spit. But anyway it is good for the community since this would give a boost at people's minds to keep believing in cryptocurrency and on what it could potentially do in the future. If China could see the possibility of cryptocurrency for establishing better opportunities especially in the field of business, it is for certain that they will be one of the biggest users of cryptocurrency in the future. They are known to be good traders even during the ancient times.