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Author Topic: JPMorgan Chase bank backs Square's $50m Bitcoin investment  (Read 305 times)
LogitechMouse
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October 17, 2020, 01:06:41 AM
 #21

With regards to Jamie Dimon's stance though, you should look at where he is coming from. He is a banker, so of course they will attack bitcoin at any cost. However, it was uncovered that the attack was well orchestrated, After the Boss Calls Bitcoin a 'Fraud' — JP Morgan Buys the Dip . And obviously they make a lot of money from their investors and clients back then.
I still remember the time where he said that Bitcoins is a fraud and that is way back 2017 where Bitcoin's price is surging up.

Bankers are the greatest enemies of Bitcoin that is why I will not change what I know against these bankers. They will support Bitcoin for a moment and then they will attack it because that is what destroys their business. They are destroying it but probably they are buying or at least holding some Bitcoins so in short they are gaining profits from it too. Stupid bankers.

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Bitcoin_bullish (OP)
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October 17, 2020, 04:15:57 AM
 #22

With regards to Jamie Dimon's stance though, you should look at where he is coming from. He is a banker, so of course they will attack bitcoin at any cost. However, it was uncovered that the attack was well orchestrated, After the Boss Calls Bitcoin a 'Fraud' — JP Morgan Buys the Dip . And obviously they make a lot of money from their investors and clients back then.
I still remember the time where he said that Bitcoins is a fraud and that is way back 2017 where Bitcoin's price is surging up.

Bankers are the greatest enemies of Bitcoin that is why I will not change what I know against these bankers. They will support Bitcoin for a moment and then they will attack it because that is what destroys their business. They are destroying it but probably they are buying or at least holding some Bitcoins so in short they are gaining profits from it too. Stupid bankers.

The way I see it, the banks discovered they can make money from this by adding Bitcoin and perhaps other cryptocurrencies as assets in investment portfolios that they will give a catchy name and sell them to institutions. They saw that Grayscale was successful and want a piece of the pie. It will be a trend as I've seen a reverse in the banking opinion for Bitcoin in Germany and Switzerland with banks given license to operate trading desks and perhaps have more options. It will all be custodial services of course.
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October 17, 2020, 04:43:34 AM
 #23

Bankers are the greatest enemies of Bitcoin that is why I will not change what I know against these bankers.

Maybe its just semantics but "bankers" aren't the enemy. Bankers as individuals are buying up bitcoin. The investment bankers that i know, they have all individually owned bitcoin at some point and some are holding. For more examples, you know that Stone Ridge actually bought bitcoin because the employees at the asset management firm won't stop buying it. JPM had to issue an advisory warning employees not to invest in bitcoin. Bankers are the people who see most of the shit going down at these places and some of them would prefer anything that brings a bit of method to the madness.

Banks as institutions though are now trying to wrap themselves around bitcoin, cryptocurrencies and the funding methods involved so that they can keep themselves relevant. They make money by siloing access to information, products and opportunities while taking the most profit out of it by funding the so called MNCs. Today as an individual, if a malaysian wants to sell something that a german will buy at a premium, they won't allow the exchange and let the poor guy gain from it. The silos are useful to them to keep a check on everything from world politics to demography. That is way too much power for someone to give away voluntarily. This is what bitcoin has challenged by enabling the common man to be part of a world economy without having to go through the hoops that they have placed for us. This is also one of the most important reasons that we must keep our privacy when it comes to all the KYC drama.

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