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

[flyingcarpet]

Dude's a complete ass when it comes to bitcoin and crypto in general. He's never really changed his stance when it comes to bitcoin, and thinks that it's the only asset that works 'against' the government through money laundering, scams, etc. It's obvious that he'll prefer fiat over bitcoin as this guy is a banker, and a CEO of a large bank at that. Of course, if people were to switch into crypto, he'll be losing his business and he doesn't want that to happen obviously.

Well obviously, he'll have no choice but to accept the consequences if bitcoin will become mainstream in the future. Banks might still be in operation but it's not all about fiat anymore, but bitcoin too being integrated in the banks. If he can't accept that, then he's free to leave his position and continue attacking bitcoin as long as he wanted to.

Jamie Dimon is no longer different from those people who talk a lot about bitcoin and continue throwing negativity on it. Well, that's also their stance and we can't take control of them but let's see when the whole world turns into crypto enthusiasts, will they'll be left behind and chose to stand against bitcoin for life.

There are many people who do not and will not like Bitcoin. Bitcoin will never serve these people's purposes. They will always be against Bitcoin because they cannot direct the money as they wish or because Bitcoin will disrupt the order they have established so far. In such a case, Bitcoin will never be the loser.

The fact that some people oppose Bitcoin is actually good news. Bitcoin does not only serve certain people. They will never like Bitcoin just because it doesn't serve them. As you said, when Bitcoin becomes mainstream, those who speak out against Bitcoin will regret it.

[spectre71]

Throwing stones Jamie?

Is JP Morgan the ethical barometer?

https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison

In September 2020, JPMorgan admitted to committing wire fraud in connection with: (1) unlawful trading in the markets for precious metals futures contracts; and (2) unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds. JPMorgan entered into a three-year deferred prosecution agreement through which it paid more than $920 million in a criminal monetary penalty, criminal disgorgement, and victim compensation, with parallel resolutions by the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission announced on the same day.

Two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) were sentenced today for engaging in fraud, attempted price manipulation, and spoofing as part of a market manipulation scheme that spanned over eight years, involved tens of thousands of unlawful trading sequences, and resulted in over $10 million in losses to market participants.

[Dump3er]

Throwing stones Jamie?

Is JP Morgan the ethical barometer?

https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison

In September 2020, JPMorgan admitted to committing wire fraud in connection with: (1) unlawful trading in the markets for precious metals futures contracts; and (2) unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds. JPMorgan entered into a three-year deferred prosecution agreement through which it paid more than $920 million in a criminal monetary penalty, criminal disgorgement, and victim compensation, with parallel resolutions by the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission announced on the same day.

Two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) were sentenced today for engaging in fraud, attempted price manipulation, and spoofing as part of a market manipulation scheme that spanned over eight years, involved tens of thousands of unlawful trading sequences, and resulted in over $10 million in losses to market participants.

This doesn't really sound any less criminal than Binance and their activities, but the penalty differs by a lot. The banks are still powerful and a penalty of $920 million doesn't hurt them either. They are making a net profit of around $15 billion per year and yet they are given a three-year deferred prosecution agreement? Why is that even the case? I am not sure why they would need a deferral why they are granted it at all? I guess they have enough liquidity to pay such a penalty with their pocket cash. But it is what it is, double-standards all the time.

[bbc.reporter]

@Dump3er. Where do you think CZ and the other hustlers in the cryptospace learned the bankers' tricks from? The banking industry controls much of the infrastructure for moving money around the world and they have laundered trillions of dollars for special clients. Would it be a shock on anyone in the forum that those special clients are billionaires and politicians who are also known as our rules? It would be headshaking if someone here is still not aware of the reality that our rulers are using the system against us.

[Emmanuelex]

Well, there are already people like him in government who have been wishing from day one to see Bitcoin fail, but it never worked out for them. Even if he was one of them, he still wouldn't be able to do anything, except ranting about how much he hates Bitcoin, and that wouldn't change anything. So right now, he's the least of my worries, if there's any.

[mamesso]

moneylaundering, tax evasion and hiding transactions are alibis often used as reasons for his dislike of Bitcoin. Behind all the alibis used there is a huge fear that it can destroy the system that has long been built by the government to ensnare the people with services offered by banks that always benefit one party. It is clear that the presence of Bitcoin poses a major threat to these government institutions.

Now he still speculates that using the words "if I am elected" he will fight Bitcoin and other crypto on the grounds that crypto assets have helped criminals. I feel his expectations are too high, he wants to use the power of power to fight Bitcoin, previously many have shown the same attitude towards Bitcoin but none of them have succeeded in killing Bitcoin.
If I could meet him in person, I would say "hey Jamie Dimon keep dreaming until you forget how to get out of your dream".

[kizlod]

Well, there are already people like him in government who have been wishing from day one to see Bitcoin fail, but it never worked out for them. Even if he was one of them, he still wouldn't be able to do anything, except ranting about how much he hates Bitcoin, and that wouldn't change anything. So right now, he's the least of my worries, if there's any.

That's what I love about Bitcoin. They can threaten it as much as they want, but they can't do shit. Even if they'll ban in there, people who need it will find a way to buy it, and everyone else simply won't care.

[digaran]

The only power he will have is to close the door to his bedroom, closing down Bitcoin might choke the old man, it's too big of a bite, he can't chew that.

[Alpha Marine]

I watched the video of this on X a few days ago and I just scrolled passes it. If the CEO of a global bank isn't against Bitcoin then who else will? They feel threatened by Bitcoin and they're powerless to stop it so this is all they can do.
This is one very big advantage of Bitcoin being decentralized. If Bitcoin wasn't centralized, by now powerful people and corporations like his and the people and corporations he works in collaboration with the government would have been fighting to bring the people or company that owns Bitcoin down, and they would have done so eventually because I don't know how powerful a person has to be to fight against such powers and win.

I think it was yesterday or so that I saw a post with a link to an article on this forum where the owner of Cardano says the crypto industry would be good without Bitcoin. This is something you expect people like this to say and frankly speaking, I don't know if I'd say something different if I was in his shoes.
There's no way he'll come out and say the coin he's preaching to investors as the future is dependent on Bitcoin.

So when we see people with companies that are competitions in whatever way (because it'll be a big disrespect to Bitcoin if I called Cardano its competition to Bitcoin) to Bitcoin saying the most predictable things we expect them to say about Bitcoin it shouldn't be a surprise to us.

[Abiky]

Its easier said than done. Making comments on shutting down Bitcoin is only limited to the circle of influence one controls, its not a global possibility. How do you tell the miners in various parts of the world to shut down their miners simply because you do not want it, when the whole world is in a warm embrace with the tech.

Comments like thes are reasons why most people loose elections and risk not having a career, it means you have no interest of the masses at heart and if allowed you will further impoverish the citizens.

The guy doesn't know what he's talking about. It takes more than one person's efforts to shut down Bitcoin for good. I think what Jamie Dimon meant was ban Bitcoin from mainstream use. US citizens won't be able to buy/sell Bitcoin if it's declared "illegal" in the country. At least through centralized exchanges. A workaround for this would be to either buy/sell BTC through a P2P exchange or a DEX. If Bitcoin wasn't decentralized/censorship-resistant, this wouldn't be possible.

I'd dismiss Jamie Dimon's comments as nothing more than pure FUD. With JP Morgan using Blockchain tech behind the scenes, you'll realize this is nothing more than drama to plunge Bitcoin's price. Banks and governments know crypto is the future of money. The question is: Will you believe the FUD or buy and "hodl" no matter what? Only those who're smart, will obtain huge benefits in the long run. Who knows if BTC ends up being the reserve currency of the world?

[oktana]

Everyone is entitled to their own opinion, at least we also have public figures who if they were the government wouldn’t shut Bitcoin down, eg: Elon Musk  . Well, what JP MORGAN CEO is saying is something we’re tired of hearing. We’ve heard how kidnappers prefer Bitcoin as ransom, we’ve heard about how Bitcoin is what Drug traffickers uses to mask their crimes, we’ve heard a lot and what I can say is that these things were already there before Bitcoin came. It’s choice if someone chooses to use Bitcoin for bad, but can you help it? No. After all, someone can use objects as offensives too.

[suzanne5223]

With every negative thing that Jamie Dimon has said about Bitcoin all this time I believe any BTC enthusiasts who still see his statement as a problem or threat to BTC advancement as the future payment system don't know the concept of BTC so well because the use of BTC is inevitable if not BlackRock, and others won't have had an interest in it.

[GideonGono]

There is nothing new to it, Government or banks has always seen Bitcoin as a threat to them, that is why they want to put it down.
But look at it, Bitcoin is still here and it is even stronger and well known today compare to how it was before.
I guess it just goes to prove that good or bad publicity is still publicity, and those who bad mouthed Bitcoin or crypto before, just helped spread out the word about it.

[bbc.reporter]

The rulers, who are the real people in power, have placed politicians like Elizabeth Warren in office to be their puppets. They use these puppets to maintain control and power over you and to forever to make you their slaves. You can argue that you are not a slave, however, this is reality. They own everything and the want more for themselves and less for you.

However, the cryptospace is causing them to lose control over money, the issuance and the distribution of money, also losing control on what is defined as money. This will be a blood feud. Do not be shocked if we find developers, founders and famous personalities in the cryptospace suddenly die because of suicide.

John McAfee did not kill himself.



United States Senator Elizabeth Warren (D-Mass.) announced an expanded coalition of Senate support for the bipartisan Digital Asset Anti-Money Laundering Act Monday. By expanding the coalition of support from the banking committee, Senator Elizabeth Warren is pushing the gas pedal for more regulation of digital assets. Furthermore, the bill is mitigating the financial risks that come with the crypto ecosystem.

In focus, the Digital Asset Anti-Money Laundering Act closes loopholes and combats illicit financial activities using crypto. These include money laundering, ransomware attacks, sanctions evasion, drug trafficking, and elder fraud. Senators Raphael Warnock (D-Ga.), Laphonza Butler (D-Calif.), Chris Van Hollen (D-Md.), the entire Senate Banking, Housing, and Urban Affairs Committee, and Senators John Hickenlooper (D-Colo.) and Ben Ray Luján (D-N.M.) joined the bill as cosponsors.

Source https://watcher.guru/news/elizabeth-warren-expands-coalition-for-crypto-crackdown-bill

[LogitechMouse]

He's the same person who said that Bitcoin is a fraud 6 years ago. Now the price of that "fraud" thing that he said a few years back is much, much higher now.
Another one is that, he's the owner of one of the largest banks, so I guess there's no surprise that he will be saying things like this in the public.

Luckily, he isn't a part of the government, and even he does, I don't think that he can do it. Bank owner have always look not only Bitcoin but crypto in general as a negative thing for them as it affects their business. Let them speak because at the end of the day, what they can do only is to just speak, but they can't do anything about it including stopping or closing Bitcoin.

If one day he will be in the government, I will be sharing 2 words for him if he will still try to close Bitcoin down. Good Luck. 

[exhort]

He's perfect for government; he has many years of experience being a big criminal who says stupid things. They can't shut down Bitcoin. If they could, they would. But they can't.

They can only call it crypto and whine over CNBC, so that's what they do.

[Abiky]

With every negative thing that Jamie Dimon has said about Bitcoin all this time I believe any BTC enthusiasts who still see his statement as a problem or threat to BTC advancement as the future payment system don't know the concept of BTC so well because the use of BTC is inevitable if not BlackRock, and others won't have had an interest in it.

He's only saying that because he's afraid of Bitcoin. We all know the government can't stop Bitcoin. What it can only do is introduce restrictions/limitations to prevent as much people as possible from getting access to it (particularly through CEXs). But that won't stop anyone from using it secretly. Bitcoin is decentralized, so it's virtually impossible to enforce regulatory action.

With countries gradually adopting BTC as legal tender, it should only be a matter of time before Fiat currencies (like the USD and EUR) become a thing of the past. I really hope Bitcoin beats down those greedy banks for good. Only then, we can have a truly-decentralized economy. The more people adopt BTC, the more Fiat will lose ground in the mainstream world. What will Jamie say once BTC becomes the reserve currency of the world? 

[The Cryptovator]

Those who become very rich through the fiat system and are involved with centralised organisations won't like Bitcoin. A few people will always oppose Bitcoin, but who cares? Also, we don't know if they want to accumulate Bitcoin at a lower price since there is huge potential for Bitcoin. They always blame Bitcoin for money laundering, but the largest part of money laundering occurs in fiat currency. Why aren't they preventing multibillion-dollar money laundering through fiat? Also, they never mentioned it anywhere. However, we don't have enough time to hear their nonsense.

[Ale88]

Throwing stones Jamie?

Is JP Morgan the ethical barometer?

https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison

In September 2020, JPMorgan admitted to committing wire fraud in connection with: (1) unlawful trading in the markets for precious metals futures contracts; and (2) unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds. JPMorgan entered into a three-year deferred prosecution agreement through which it paid more than $920 million in a criminal monetary penalty, criminal disgorgement, and victim compensation, with parallel resolutions by the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission announced on the same day.

Two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) were sentenced today for engaging in fraud, attempted price manipulation, and spoofing as part of a market manipulation scheme that spanned over eight years, involved tens of thousands of unlawful trading sequences, and resulted in over $10 million in losses to market participants.

This doesn't really sound any less criminal than Binance and their activities, but the penalty differs by a lot. The banks are still powerful and a penalty of $920 million doesn't hurt them either. They are making a net profit of around $15 billion per year and yet they are given a three-year deferred prosecution agreement? Why is that even the case? I am not sure why they would need a deferral why they are granted it at all? I guess they have enough liquidity to pay such a penalty with their pocket cash. But it is what it is, double-standards all the time.

Bankers, politicians, judges, they're all the same and they work together. I still remember the first time I watched the movie "The big short", at the end it was explaining that pretty much not a single banker got arrested. For me it was mind blowing, maybe because I was young, maybe because I had a different idea of the USA, I don't know, I just feel like that it doesn't matter whether you're a first or third world country, whoever has money always wins.

[Abiky]

Those who become very rich through the fiat system and are involved with centralised organisations won't like Bitcoin. A few people will always oppose Bitcoin, but who cares? Also, we don't know if they want to accumulate Bitcoin at a lower price since there is huge potential for Bitcoin. They always blame Bitcoin for money laundering, but the largest part of money laundering occurs in fiat currency. Why aren't they preventing multibillion-dollar money laundering through fiat? Also, they never mentioned it anywhere. However, we don't have enough time to hear their nonsense.

The corrupt, centralized banking system is on the brink of collapse. People are starting to lose faith in Fiat currencies due to banks' inability to put inflation under control. These giants claim inflation eased off, but the truth is that things are not as good as they seem. They will keep printing money even if that means the poor will get poorer in the long run. With Bitcoin, this level of inequality is no longer possible. That's why bankers spread negative comments against Bitcoin. They are afraid it will take over Fiat, effectively stripping them away from power.

Jamie Dimon, Warren Buffet, and Elizabeth Warren all are part of the corrupt system I've mentioned earlier. We should not underestimate these people, especially with the power/influence they have over the economy and politics. While they won't be able to shut down Bitcoin, they will introduce a series of obstacles to make it almost impossible for people to get access to it. At least, within the US. For other countries, it's another story. The future is widely unpredictable, so lets hope for the best.