Jamie Dimon's ( "Bitcoin is a scam") Bank -JP Morgan Chase- Fined 1 Billion

[ChiBitCTy]

Well what do you know, more scams from one of the worlds most corrupt and immoral banks and their CEO Jamie Dimon.  Many of you of course remember how Jamie Dimon came out and called Bitcoin a scam. The funny thing is the day he came out and said this Chase Bank trader made moves to take advantage of the price drop.

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

https://www.cnbc.com/2020/09/23/jpmorgan-to-pay-almost-1-billion-fine-to-resolve-us-investigation-into-trading-practices.html

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[7788bitcoin]

Well what do you know, more scams from one of the worlds most corrupt and immoral banks and their CEO Jamie Dimon.  Many of you of course remember how Jamie Dimon came out and called Bitcoin a scam. The funny thing is the day he came out and said this Chase Bank trader made moves to take advantage of the price drop.

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

This is not the first time these traditional banks are caught doing fraudulent trading activities and even though they know that if they are caught they will be slapped with a huge fine they still carry on those practices. The reason some of these bankers are against bitcoin is because they know it is a decentralized platform and no one of power will voice their difference when they chirp against bitcoin and more over they get all the media attention for bashing bitcoin.

[mk4]

In other news, water is wet, and the pope is catholic. 

Relevant video: https://www.youtube.com/watch?v=v_wlZr1aBdI

[BrewMaster]

the funny thing is that when one dude does something illegal with bitcoin worth 10 bucks the media renders us deaf with the nonstop negative news but when these banks are caught in their illegal act worth trillions of dollars we only see a small article with a very mellow tone that nobody really reads either. in fact the topic is mostly discussed in bitcoin forums and not many place else.

[Upgrade00]

<...>

One of the reasons for this could be that people are less sensitive to scams related to banks as the whole system is built on it, so such news does not get much traffic when reported or is not reported broadly so as not to create panic. But when scams is related to Bitcoin, no matter how loose the connection is, it usually gathers lots of attention; The massive printing of money was reported by lots of media houses but was not debated heavily on general forums, such a supply hike in a currency like bitcoin would surely get much more interest.

There's also the case of government pushing the narrative that Bitcoin facilitates scams through media houses.

[blockman]

I still remember what he did before. And that opened my mind about what these big names from the financial industry that whatever they say, the people listens.

the funny thing is that when one dude does something illegal with bitcoin worth 10 bucks the media renders us deaf with the nonstop negative news but when these banks are caught in their illegal act worth trillions of dollars we only see a small article with a very mellow tone that nobody really reads either. in fact the topic is mostly discussed in bitcoin forums and not many place else.

Accurate. The media's create some salty headlines and articles whenever they had a scope of a transaction like that in bitcoin.

[dothebeats]

Not surprised that they find themselves in lukewarm (not hot) water again. This is just another mild slap on the wrist of these giant bankers and they will just repeat the cycle all over again unless none of them are charged with sentence and are put behind bars. Also, Jamie Dimon has always been that harsh against bitcoin, though at some point he had become considerate of what bitcoin offers. I will not be surprised if he continues his badmouthing BS with bitcoin because he gets the attention he wanted from it.

One of the reasons for this could be that people are less sensitive to scams related to banks as the whole system is built on it, so such news does not get much traffic when reported or is not reported broadly so as not to create panic. But when scams is related to Bitcoin, no matter how loose the connection is, it usually gathers lots of attention; The massive printing of money was reported by lots of media houses but was not debated heavily on general forums, such a supply hike in a currency like bitcoin would surely get much more interest.

There's also the case of government pushing the narrative that Bitcoin facilitates scams through media houses.

Because banks are the media and government's friends. Without these institutions providing financial support, they would be going under in no time considering that there's not a lot of money to gain solely on news reporting and by being good public officials.

[CarnagexD]

Well what do you know, more scams from one of the worlds most corrupt and immoral banks and their CEO Jamie Dimon.  Many of you of course remember how Jamie Dimon came out and called Bitcoin a scam. The funny thing is the day he came out and said this Chase Bank trader made moves to take advantage of the price drop.

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

https://www.cnbc.com/2020/09/23/jpmorgan-to-pay-almost-1-billion-fine-to-resolve-us-investigation-into-trading-practices.html

This has been long going on, probably why bitcoin was made in the first place. To combat these banking institutions that are stealing money away from their customers and once and for all put the power back to where it matters most. What's sad is the fact that the fines were never gonna be put to the victimized customers again and would instead be transferred to the pockets of the yet another corrupt institution.

[acroman08]

damn, the Irony. I wonder how stupid he feels every time someone mentions that he called bitcoin is a scam then turning out that he was a scammer himself.

Accurate. The media's create some salty headlines and articles whenever they had a scope of a transaction like that in bitcoin.

well, that is what they are being paid for. to create a bad image to those who they don't like.

[blockman]

Accurate. The media's create some salty headlines and articles whenever they had a scope of a transaction like that in bitcoin.

well, that is what they are being paid for. to create a bad image to those who they don't like.

Who could be paying them voluntarily for doing that? banks? I don't think that any establishment would do that anymore for an enemy or competitor that's no one is controlling and is automatically rolling through its community. I could understand if it's just another crypto exchange paying for bad publicity of another competitor exchange. But who knows if there really are establishments who are still doing this, knowing that they can't beat bitcoin.

[tunaduong]

Accurate. The media's create some salty headlines and articles whenever they had a scope of a transaction like that in bitcoin.

well, that is what they are being paid for. to create a bad image to those who they don't like.

Who could be paying them voluntarily for doing that? banks? I don't think that any establishment would do that anymore for an enemy or competitor that's no one is controlling and is automatically rolling through its community. I could understand if it's just another crypto exchange paying for bad publicity of another competitor exchange. But who knows if there really are establishments who are still doing this, knowing that they can't beat bitcoin.

Banks around the world are heavily involved in scandals and under mandatory investigation, with the form of money laundering or market manipulation so anything is possible.and bitcoin is not so because it cannot be controlled and its development seems to be ceaseless.

[davis196]

Well what do you know, more scams from one of the worlds most corrupt and immoral banks and their CEO Jamie Dimon.  Many of you of course remember how Jamie Dimon came out and called Bitcoin a scam. The funny thing is the day he came out and said this Chase Bank trader made moves to take advantage of the price drop.

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

https://www.cnbc.com/2020/09/23/jpmorgan-to-pay-almost-1-billion-fine-to-resolve-us-investigation-into-trading-practices.html

The big banks like JP Morgan are laundering trillions of dollars,and yet Bitcoin is still being called a scam.
What a hypocrisy.I knew that Jamie Dimon is a "rotten apple". Smart bankers never talk BS on interviews.The smart bankers usually don't give interviews at all.
That Chase Bank Trader just saw an opportunity and he took advantage of it.Is this illegal?I don't think so.
It would have been illegal,if the trader knew that Jamie Dimon will say this BS and dump the price of Bitcoin.

[Francis Freeman]

Well what do you know, more scams from one of the worlds most corrupt and immoral banks and their CEO Jamie Dimon.  Many of you of course remember how Jamie Dimon came out and called Bitcoin a scam. The funny thing is the day he came out and said this Chase Bank trader made moves to take advantage of the price drop.

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

https://www.cnbc.com/2020/09/23/jpmorgan-to-pay-almost-1-billion-fine-to-resolve-us-investigation-into-trading-practices.html

It's not something which is unknown or unexpected to be fair. Traditional banks have long been laundering money and involved in fradulent activities and they get fined in billions of dollars. They only want to avoid decentalised currencies because it threatens them.

[NeuroticFish]

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

Bitcoin is adopted by PayPal (well, not fully, but still) and JP Morgan Chase gets fined yet once again.
Bitcoin heads up, JP Morgan Chase goes towards the wall heads first. I don't mind.

[LogitechMouse]

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

A billion dollars is just nothing for them as have a huge amount of money already.

He is calling Bitcoin a scam while they are the true scammers. What an ironic thing to think but well, Bitcoin destroys their industry so what do you expect him to say . Its obvious that it will be negatives will be said by him towards Bitcoin. Yes banks are helpful as  of now but I don't use them TBH.

[pixie85]

I knew they were doing it when there were reddit threads years ago that when Bitcoin market reacted to the first tweet about Bitcoin by Dimon he quickly made tweets about bitcoin his habit.

He also said that he'd fire any employee engaged in bitcoin trading but his bank was found wiring money to exchanges to buy bitcoin. So was it all taking place behind CEO's back? I doubt it!

Then he admitted in some interview that his daughter is a Bitcoin trader. It really started to make sense.

If they were manipulating stocks and attacking bitcoin, they were also trading bitcoin, I'm sure of it.

[leoagro]

Maybe he got something wrong and meant banks and not bitcoin?

[kryptqnick]

Well what do you know, more scams from one of the worlds most corrupt and immoral banks and their CEO Jamie Dimon.  Many of you of course remember how Jamie Dimon came out and called Bitcoin a scam. The funny thing is the day he came out and said this Chase Bank trader made moves to take advantage of the price drop.

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

https://www.cnbc.com/2020/09/23/jpmorgan-to-pay-almost-1-billion-fine-to-resolve-us-investigation-into-trading-practices.html

Finally, some form of justice for these criminals! Big banks are the loudest to express concerns over the potential use of Bitcoin for fraudulent activities, but they're the biggest scammers! However, I think someone has to go to prison for this, and the bank should face severe oversight and restrictions if not get closed. It's not right that people commit crimes on such a huge scale, but end up just losing some money while still remaining rich and powerful. That's why Bitcoin is so attractive. No rich a-holes getting away with scam over and over again and legally (!) controlling lots of money that was given to them by other people.

[blockman]

Who could be paying them voluntarily for doing that? banks? I don't think that any establishment would do that anymore for an enemy or competitor that's no one is controlling and is automatically rolling through its community. I could understand if it's just another crypto exchange paying for bad publicity of another competitor exchange. But who knows if there really are establishments who are still doing this, knowing that they can't beat bitcoin.

Banks around the world are heavily involved in scandals and under mandatory investigation, with the form of money laundering or market manipulation so anything is possible.and bitcoin is not so because it cannot be controlled and its development seems to be ceaseless.

No proof and we're just giving an idea that they are the one that's controlling this. That explanation you have said, it's not being given that much attention because they all look at bitcoin being the bad currency.
The fine that's given is high. I think it's the first time that I've seen a company that's fined 1 billion dollars. Most of the fines that I've seen were hundreds of millions but didn't go through to billions.

[suzanne5223]

Once again his bank gets caught for fraudulent trading activities. So I ask, what's really the scam..bitcoin or traditional banks such as JP Morgan Chase

https://www.cnbc.com/2020/09/23/jpmorgan-to-pay-almost-1-billion-fine-to-resolve-us-investigation-into-trading-practices.html

Only naive individual will sees cryptocurrency as a scam while 95% of all scam are done through fiat due the document which exposed Billions of dirty money moved to a Bank and what hurt the most is that the institutions/Banks thats said Bitcoin was said are actually of the scammer operating behind the scheme. However, it good that Jamie Dimon scam activities was exposed and this make think this could be also among the thing that change the mind of paypal CEO through crypto.