Jamie Dimon said he would close Bitcoin down if he was in government

[mv1986]

Some of his reasons for wanting the shutdown of Bitcoin are actually valid. The important features of Bitcoin like Anonymity can certainly be abused by the bad guys   I expected a responsible community to come together and work out a transparent countermeasure against criminal use by now. Ofcourse, couple of effective & workable solutions were proposed in the past but so far nothing has been done with them. Certain people within the Community seem to think that criminals have that rights too, probably forgetting that the features were created to protect people from criminals/evil. Criminals are not entitled to the thesame protection otherwise it would be hard to find and get them arrested.

If thats the argument why not "shut down" Cash? it is used far more than Bitcoin by criminals?

I'm fairly certain that anyone buying and selling drugs on the verious streets of rhe world
are paying in Cash not Bitcoin for example.

Dimon isnt worried about criminals using Bitcoin he is worried about the perceived threat
it might have on his interests and as others have pointed out, they cannot control it. They
use buzzwords like "Criminal behaviour" to seek validity to their arguments among their peers.
Its nonsense.

The funny thing is that he is contradicting himself all the time. Remember this one:

"Jamie Dimon would fire any employee trading bitcoin for being 'stupid'"

Let me give this a wild guess and say that I am sure JP Morgan Chase would have to close their doors if all employees who are trading Bitcoin or have traded Bitcoin in the past / will trade Bitcoin in the near future would be fired with immediate effect!

As far as I know they are offering trading support or even custody to their customers? I am not certain about that, but I like this one as well:

"JP Morgan Grew Its Crypto Team By 200%, Amid CEO’s Criticism Of Bitcoin"

These contradictions get me thinking because I can't find out what agenda Jamie Dimon is pursuing. What is his goal when he bashes Bitcoin publicly while his company is actively involved in the crypto space?

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[batang_bitcoin]

IMHO, Jamie is still experimental despite all of his efforts to tell nasty things about Bitcoin. He's actually doing the opposite and he wants the best out of those people that are buying his words. Because no matter what he tells, the market is doing its own thing and rises every single time he'd say some shit towards the media. When I say experimental, it's about on how he can maximize all of the exposure that he gets for himself and his entire company to maxed out the benefits they're getting with for being vocal.

[Abiky]

IMHO, Jamie is still experimental despite all of his efforts to tell nasty things about Bitcoin. He's actually doing the opposite and he wants the best out of those people that are buying his words. Because no matter what he tells, the market is doing its own thing and rises every single time he'd say some shit towards the media. When I say experimental, it's about on how he can maximize all of the exposure that he gets for himself and his entire company to maxed out the benefits they're getting with for being vocal.

It's all FUD. Jamie wants to tank Bitcoin's price so he can buy more coins at a discount. But that's never going to happen. Especially when spot ETFs are on the brink of approval. Turns out Blackrock named JP Morgan as an authorized participant for its spot ETF offering. You can read all about it here: https://news.bitcoin.com/gofrom/icymi/blackrock-names-jpmorgan-as-authorized-participant-for-spot-bitcoin-etf-despite-jamie-dimon-wanting-to-ban-crypto/

I wonder what Jamie has to say now that Bitcoin will experience massive institutional adoption? Will he still claim BTC is used for illegal activities? With Bitcoin having legitimate use cases, its enemies will have no choice but to join it. As it's said in the real world, "if you can't beat them, join them". The future is bright for Bitcoin and the whole crypto industry.

[ChiBitCTy]

I've spoken about Jamie here quite a bit, and my opinion still stands.  Jamie Dimon should be rotting in a jail cell right now, however he runs one of the worlds largest and most profitable scams.  Just take a look at how much JP Morgan Chase has in fraud violations since the year 2000.  Nearly 40 BILLION dollars   https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  That's not a type.  This man is pure evil scum.  He doesn't like bitcoin because it goes against how he makes his millions. 

[amishmanish]

JPMorgan Chaseis the biggest bank in America. It is odd the way that someone like Jamie Dimon who has presided over this empire for so long, can be so foolishly opposed to an idea.

A bank is in the business of managing the movement of money but the more important function that banks perform is managing the credit cycle that leads to the multiplier effect. Bitcoin is simply not in that same business and has nothing against the work that banks do.

This is also the reason that a lot of these institutions are now gradually starting to accept that Bitcoin is here to stay. Yes, there is a need to dissuade bad players but that a law and order issue which is definitely not exclusive of Bitcoin. Instead of rallying against bitcoin in such stupid manner Jamie should use his clout and the enormous resources to find a way to better integrate bitcoin into his services.

His opposition is almost like a hatred, an emotional stance, rather than a well-thought out, rational one.

[Zoomic]

JPMorgan Chaseis the biggest bank in America. It is odd the way that someone like Jamie Dimon who has presided over this empire for so long, can be so foolishly opposed to an idea.

A bank is in the business of managing the movement of money but the more important function that banks perform is managing the credit cycle that leads to the multiplier effect. Bitcoin is simply not in that same business and has nothing against the work that banks do.

This is also the reason that a lot of these institutions are now gradually starting to accept that Bitcoin is here to stay. Yes, there is a need to dissuade bad players but that a law and order issue which is definitely not exclusive of Bitcoin. Instead of rallying against bitcoin in such stupid manner Jamie should use his clout and the enormous resources to find a way to better integrate bitcoin into his services.

His opposition is almost like a hatred, an emotional stance, rather than a well-thought out, rational one.

If Jamie Dimon shuts down Bitcoin totally, will it stop the the bad guys from operating? No it won't,  they will definitely turn to Fiat for all their transactions.  Why not shut down fiat too?
This is a proof that there is more to Jamie's claims, all he wants is total control!. He wants to know what comes in and out, how to tax Bitcoin earners, how to earn from transaction charges and give Bitcoiners tough time. Bitcoin is just a threat to them all because they cannot control it. To even think of it, which government will approve what they cannot control? The ones who know what's up have approved it and are seeing the benefits already while those who are just interested in control are wasting their efforts fighting it. Bitcoin has come to stay, no going  back!

[Abiky]

I've spoken about Jamie here quite a bit, and my opinion still stands.  Jamie Dimon should be rotting in a jail cell right now, however he runs one of the worlds largest and most profitable scams.  Just take a look at how much JP Morgan Chase has in fraud violations since the year 2000.  Nearly 40 BILLION dollars   https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  That's not a type.  This man is pure evil scum.  He doesn't like bitcoin because it goes against how he makes his millions. 

That's the main reason why Jamie hates Bitcoin. The cryptocurrency's level of transparency would reveal his corruption to the public. With the USD, he can hide his activities without leaving any trace. Only the government will be able to know his tactics. I guess being a banker does have its benefits.

I'm yet to see what will be Jamie Dimon's reaction after spot ETFs are approved by the SEC. BlackRock already named JP Morgan as an "authorized participant" in its ETF application. Would he retract his comments of Bitcoin being a cryptocurrency used by criminals? Only time will tell us. I'd hold on tight as this is going to be a "bumpy" ride.

[ChiBitCTy]

I've spoken about Jamie here quite a bit, and my opinion still stands.  Jamie Dimon should be rotting in a jail cell right now, however he runs one of the worlds largest and most profitable scams.  Just take a look at how much JP Morgan Chase has in fraud violations since the year 2000.  Nearly 40 BILLION dollars   https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  That's not a type.  This man is pure evil scum.  He doesn't like bitcoin because it goes against how he makes his millions. 

That's the main reason why Jamie hates Bitcoin. The cryptocurrency's level of transparency would reveal his corruption to the public. With the USD, he can hide his activities without leaving any trace. Only the government will be able to know his tactics. I guess being a banker does have its benefits.

I'm yet to see what will be Jamie Dimon's reaction after spot ETFs are approved by the SEC. BlackRock already named JP Morgan as an "authorized participant" in its ETF application. Would he retract his comments of Bitcoin being a cryptocurrency used by criminals? Only time will tell us. I'd hold on tight as this is going to be a "bumpy" ride.

See that's the funny thing or irony of the whole situation.  Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF.  The main is a massive hypocrite on top of being one of the worlds biggest scumbags.  I can't stand this piece of human filth. 

[Abiky]

See that's the funny thing or irony of the whole situation.  Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF.  The main is a massive hypocrite on top of being one of the worlds biggest scumbags.  I can't stand this piece of human filth. 

Banks are only interested in Bitcoin's core Blockchain tech. Not the cryptocurrency itself. JP Morgan has been experimenting with its own version of the ETH blockchain for the implementation of its very own cryptocurrency/token. Yet, Jamie Dimon criticizes Bitcoin as being a cryptocurrency used for criminal activities. If that's the case, why care about Blockchain tech at all? Pure hypocrisy like you've said.

Eventually, these bankers will launch a CBDC with the government to proceed with their plan of a "global reset". The rich will become richer, and the poor, poorer. Once CBDCs rule the world, we should expect a full blanket ban for decentralized cryptocurrencies like BTC and ETH. At least, in the future. Lets all enjoy the spot ETFs hype while it lasts.

[TimeTeller]

See that's the funny thing or irony of the whole situation.  Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF.  The main is a massive hypocrite on top of being one of the worlds biggest scumbags.  I can't stand this piece of human filth.  

Banks are only interested in Bitcoin's core Blockchain tech. Not the cryptocurrency itself. JP Morgan has been experimenting with its own version of the ETH blockchain for the implementation of its very own cryptocurrency/token. Yet, Jamie Dimon criticizes Bitcoin as being a cryptocurrency used for criminal activities. If that's the case, why care about Blockchain tech at all? Pure hypocrisy like you've said.

Eventually, these bankers will launch a CBDC with the government to proceed with their plan of a "global reset". The rich will become richer, and the poor, poorer. Once CBDCs rule the world, we should expect a full blanket ban for decentralized cryptocurrencies like BTC and ETH. At least, in the future. Lets all enjoy the spot ETFs hype while it lasts.

They are hypocrite indeed, but that's how they handle business here.
As long as they can gain something out of it, sure, they will explore such path even if it is like against what they previously said to the public.
Business is business, so long they can exhaust some profits, they will be hypocrite persons.
With such attitude, we can already see who's trustworthy or not, so it depends on you as a user who to follow when it comes to possible financial advice.

[Ryu_Ar1]

Who is he?
I know JP Morgan because it's one of the biggest companies and I'm always up to date with what it's doing but not the people.
Well he is a very great person because indeed he is currently highly regarded for his position but what is his capacity to comment on bitcoin and by saying "if he is in the government" is with this statement to be seen as someone who can sit in the seat of government in his country

He points out an argument made by Sen. Elizabeth Warren that its true use is to aid criminals, including drug traffickers, and those in tax avoidance, due to its instant, near-anonymous transactions.

Statements like this have actually lost interest if used as an excuse because this is an old-fashioned way to destroy bitcoin because however such a way has always been done but in the end it does not provide significant results for them to destroy bitcoin.
In addition, when talking like this, it can also backfire on itself because after all, if you talk about bitcoin and argue like that then what is the company doing, is it really very clean from criminals? of course not only that it is not exaggerated because it will interfere with activities, especially in matters of trust in banks.

[ChiBitCTy]

See that's the funny thing or irony of the whole situation.  Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF.  The main is a massive hypocrite on top of being one of the worlds biggest scumbags.  I can't stand this piece of human filth. 

Banks are only interested in Bitcoin's core Blockchain tech. Not the cryptocurrency itself. JP Morgan has been experimenting with its own version of the ETH blockchain for the implementation of its very own cryptocurrency/token. Yet, Jamie Dimon criticizes Bitcoin as being a cryptocurrency used for criminal activities. If that's the case, why care about Blockchain tech at all? Pure hypocrisy like you've said.

Eventually, these bankers will launch a CBDC with the government to proceed with their plan of a "global reset". The rich will become richer, and the poor, poorer. Once CBDCs rule the world, we should expect a full blanket ban for decentralized cryptocurrencies like BTC and ETH. At least, in the future. Lets all enjoy the spot ETFs hype while it lasts.

Ehh I certainly agree that they are mostly interested in the blockchain technology and how this could be implemented in to their systems and how it could improve things, but banks tend to be interested in anything they can make money on.  I have no doubts that Chase financial adivsors will start putting people in to bitcoin ETFs.  As an FA who hears from clients all the time on bitcoin, they want to own it and they want to own it as safely and easily as possible so an ETF where they don't have to worry about the key control, will be extremely enticing.  Can't wait to see how Jamie reacts to this.  He certainly wont stop it, if there's money to be made, he's there for it.   

[Assface16678]

I've spoken about Jamie here quite a bit, and my opinion still stands.  Jamie Dimon should be rotting in a jail cell right now, however he runs one of the worlds largest and most profitable scams.  Just take a look at how much JP Morgan Chase has in fraud violations since the year 2000.  Nearly 40 BILLION dollars   https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  That's not a type.  This man is pure evil scum.  He doesn't like bitcoin because it goes against how he makes his millions. 

That's the main reason why Jamie hates Bitcoin. The cryptocurrency's level of transparency would reveal his corruption to the public. With the USD, he can hide his activities without leaving any trace. Only the government will be able to know his tactics. I guess being a banker does have its benefits.

I'm yet to see what will be Jamie Dimon's reaction after spot ETFs are approved by the SEC. BlackRock already named JP Morgan as an "authorized participant" in its ETF application. Would he retract his comments of Bitcoin being a cryptocurrency used by criminals? Only time will tell us. I'd hold on tight as this is going to be a "bumpy" ride.

See that's the funny thing or irony of the whole situation.  Jamie has continuously bashed bitcoin and cryptocurrency yet his company created their own cryptocurrency coin as well as doing things such a filing for an ETF.  The main is a massive hypocrite on top of being one of the worlds biggest scumbags.  I can't stand this piece of human filth. 

True you will see the fun part in his statement, its only proven that they can't beat or they can't get into the level of bitcoin that's why they resort to bad mouthing or pulling bitcoin down little he knows that no matter what he says or how influential he is people with right mindset and very know to bitcoin will not believe in what will he says, and based on the others opinions or post this person is a big scum and have a quite bad image proving that he is only saying things that could tarnish the image of bitcoin, but yeah sad part we can't do anything to that, there are no laws protecting bitcoin so even if someone like him saying false information and false accusations to bitcoin we can't sue him or what. The only thing we could do is not believe in this kind of person.

[Maslate]

The question is when he will gain a government position? However, closing bitcoin will not be done if there’s only one official who will go against it, as there should be a harmonious decision from all officials in order to close bitcoin and stop its function. But, we should also know that even government cannot completely ban bitcoin. You need to shut down the whole internet connection first so that bitcoin will not be able to function again, which I think is highly impossible since the whole universe will be affected as well.

[Abiky]

Ehh I certainly agree that they are mostly interested in the blockchain technology and how this could be implemented in to their systems and how it could improve things, but banks tend to be interested in anything they can make money on.  I have no doubts that Chase financial adivsors will start putting people in to bitcoin ETFs.  As an FA who hears from clients all the time on bitcoin, they want to own it and they want to own it as safely and easily as possible so an ETF where they don't have to worry about the key control, will be extremely enticing.  Can't wait to see how Jamie reacts to this.  He certainly wont stop it, if there's money to be made, he's there for it.   

With spot ETFs approved by the SEC, the US government will finally be able to control a large portion of BTC's supply. Jamie Dimon should be happy now. I know most people won't care about this, as long as they see market prices grow in the long term. They're missing the bigger picture of what will ultimately (God forbid) lead to the demise of Bitcoin in the future. Wasn't BTC meant to be the anti-thesis of the existing monetary system empowered by banks and governments alike? By opening the doors to "Wall Street" we have moved away from Bitcoin's original vision.

It's likely Jamie will keep bashing Bitcoin while buying it in secret. The more negative pressure is exerted over the cryptocurrency, the lower market prices will be. This means bankers and the "Elite" will be able to grab BTC at a huge discount. Don't fall for their moves. Lets see how much BTC these institutions (BlackRock, Fidelity, etc) will accumulate over time. With such a finite supply of 21m coins, it's likely they will "own it all" (sort of). The future can't be predicted, so lets hope for the best.

[Mr. Magkaisa]

           -   If the government can't shut down Bitcoin because they don't have the ability to do it, then he is not an official of the government.  
This Jamie Dimon is too funny. And he also feels too entitled or invincible.

Then, if he really has the ability to shut down Bitcoin, before he does that, he should first run for a high position in the government as a politician before he brags that he can actually do what he says. Maybe because of his campaigning and becoming a politician, he is no longer an effective and he will lose immediately. That's what he is saying. This Jamie Dimon is really funny; his statements for our communities are bad for what he says, where the sound of his surname "DIMON" is the sound of "DEMON." No wonder