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

[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.

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.

He's afraid of Bitcoin? I don't believe that, when BTC never chased him out of the office or stopped him from living. I believe he's doing this for personal interest which I believe is about investment and one thing I notice is that these people never want people from the lower class to have access to something that will give them liberation.

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.

No, USD and EUR will never be a thing of the past and this exact belief is the reason why some government officials are against BTC which was created to complement fiat currency.
Fiat currency may be redefined but it won't be 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? 

Bitcoin never be a world reserve currency but it may beat down greedy banks.

[bbc.reporter]

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.

I very much agree and many people who are more closely following the news updates on the SEC's campaign against the cryptospace have also begun to notice this corruption and the conspiracy.



ELIZABETH WARREN VIOLATED HER OATH

As a Senator, sitting on the Banking Committee,
@ewarren violated her oath. Her job is to provide and engage in actual oversight of the
@SECGov.

Instead, she conspired with her close friend @GaryGensler, not only giving him the exact questions she would ask before a hearing, but also the suggested answers to those same questions.

That isn’t oversight - it’s  fraudulent, coached testimony before Congress. She literally said that she didn’t want to place Gensler in a tough spot. Are you f’ing kidding me?

HER JOB is to place the Chairman of the SEC in a tough spot -  asking hard hitting or “tough” questions.

Source https://twitter.com/johnedeaton1/status/1733526012955074899


This grandma Elizabeth Warren should be removed from her position in the senate banking commitee.

[zaim7413]

He is only a small part of the people who can't come to terms with Bitcoin, his mindset may be right according to him but for the majority of other people never view Bitcoin the way he estimates. I have never seen a big influence in him other than just banning Bitcoin in every business he owns, he also can't intervene with his employees to hate Bitcoin because everyone has their own views on Bitcoin.
His words are just a passing gust of wind, so far Bitcoin has existed for more than a decade but there has not been a single installation that has succeeded in shutting down Bitcoin, let alone the war being carried out by one person.

[SquirrelJulietGarden]

He is only a small part of the people who can't come to terms with Bitcoin, his mindset may be right according to him but for the majority of other people never view Bitcoin the way he estimates. I have never seen a big influence in him other than just banning Bitcoin in every business he owns, he also can't intervene with his employees to hate Bitcoin because everyone has their own views on Bitcoin.
His words are just a passing gust of wind, so far Bitcoin has existed for more than a decade but there has not been a single installation that has succeeded in shutting down Bitcoin, let alone the war being carried out by one person.

Jamie Dimon is like a vitamin for Bitcoin growth. The world always are two sided and Bitcoin market is two sided too. There are people who like and support Bitcoin but there are other who dislike and don't support Bitcoin.

Fortunately for Bitcoin, it has strong community with support increases with time. The adoption of Bitcoin has been growing exponentially since 2009 and it as most steadiest and impressive in history.

[CODE200]

Too bad for us he isn't in there because he knows that there's less control there than being in the bank, he's likely planning something big for his companies and cronies which resulted to this stupid and arrogant statement. I'm sure that if this becomes the case, there's going to be a backlash on the people that are in their jurisdiction and US can't easily move regards to this one request from their client Jamie.

He is only a small part of the people who can't come to terms with Bitcoin, his mindset may be right according to him but for the majority of other people never view Bitcoin the way he estimates. I have never seen a big influence in him other than just banning Bitcoin in every business he owns, he also can't intervene with his employees to hate Bitcoin because everyone has their own views on Bitcoin.
His words are just a passing gust of wind, so far Bitcoin has existed for more than a decade but there has not been a single installation that has succeeded in shutting down Bitcoin, let alone the war being carried out by one person.

He is a small part but he is an influential person and a rich one in terms of resources to make anything come true for him and it's not like Dimon isn't the only one that shares these sentiments about bitcoin, I am sure that there are other people that are as influential as him that are itching to get rid of bitcoin because they know that it's a threat to the banking system that they're making billions out of, with bitcoin, these banks know that so they do this kind of stuff. Sure he can't influence the employees, there's always a thousand more that he can hire that shares his sentiment to replace that person that he can't change their mind, that's the reality.

[Natsuu]

It's not uncommon for industry leaders to express concerns about new technologies. Jamie Dimon's stance on Bitcoin is just like the usual sentiment among traditional finance people. They should try to open their minds. It's a waiting game to see how rules and public views change the game for traditional and the crypto world.
Even in our country, they often emphasize potential misuse of cryptocurrencies such as money laundering and tax evasion. But with thorough research, the blockchain technology can bring transparency and financial inclusion. Government people should do their jobs

[South Park]

It's not uncommon for industry leaders to express concerns about new technologies. Jamie Dimon's stance on Bitcoin is just like the usual sentiment among traditional finance people. They should try to open their minds. It's a waiting game to see how rules and public views change the game for traditional and the crypto world.
Even in our country, they often emphasize potential misuse of cryptocurrencies such as money laundering and tax evasion. But with thorough research, the blockchain technology can bring transparency and financial inclusion. Government people should do their jobs

For governments except for the taxes and the foreign investment they can get, almost everything else that is related to bitcoin is something undesirable for them, they do not like the idea of each person becoming their own bank, the pseudonymous nature of bitcoin or the ability to make a transaction without the need of a third party overseeing them and blocking them if necessary, so it is not surprising that governments and those that benefit from the current system are not happy with bitcoin.

[Baofeng]

Lol, if we hear personalities like Jaime Dimon is talking negative about Bitcoin, it's just to buy more and just HODL on it, hehehe.

We all know what his intentions are and so are other entities attacking Bitcoin, it means that they want the price to go down so that they can buy millions and then enrich themselves. So in this case, I wouldn't be affected, again, we have seen him and his company did before in 2017 and it was very effective and so he is taking advantage of the situation again by bad mouthing bitcoin.

https://www.trustnodes.com/2017/09/16/jp-morgan-buys-bitcoin-price-rises-20

[Renampun]

Does he realize what he said, Bitcoin will not be able to be shut down (If anyone could shutdown Bitcoin then it would have happened a long time ago), the reason why Satoshi has not appeared is to avoid people like Dimon, besides that Bitcoin has become a part of the lives of many people in the world, doing a shutdown on Bitcoin is just it's just going to be a load of bullshit. I'm willing to bet that even if Jamie Dimon becomes President of the United States, he will never be able to shut down Bitcoin.

[shield132]

Jamie Dimon spoke in front of the senate and congress to talk about the banking industy and it appears bitcoin was mentioned. According to him, bitcoin should be closed down and it is only good for moneylaundering, tax evasion and hiding transactions. This is always their argument hehehehee.

Of course, it's only good for money laundering, that's what you'll hear from Jamie Dimon. What is he going to say else? Btw I wonder, up to 500 billion American dollars were laundered through JP Morgan and how much was laundered through Bitcoin? I am afraid, that's a huge number.
Another link from justice.gov talks everything about JP Morgan - https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-920-million-connection-schemes-defraud-precious-metals-and-us

It's a result of competition to say that Bitcoin is an enemy. I am amazed that millions of people support shady people like Jamie Dimon and support shady money laundering banks like JP Morgan.

[_BlackStar]

Bitcoin has become his competitor in the financial system - so perhaps it is of no use to him at all.
I'm not surprised by what he wants to say every chance he gets - but I would be very surprised if people like this end up breaking their vows. Jamie Dimon must repent and look at the fact that the world continues and does not stop - so that new systems will continue to improve. The financial system needs a revolution considering that more and more people in the future will lose their trust in banks.

[Zoomic]

Bitcoin has become his competitor in the financial system - so perhaps it is of no use to him at all.
I'm not surprised by what he wants to say every chance he gets - but I would be very surprised if people like this end up breaking their vows. Jamie Dimon must repent and look at the fact that the world continues and does not stop - so that new systems will continue to improve. The financial system needs a revolution considering that more and more people in the future will lose their trust in banks.

Those in power will not stop until they gain full control of all the cryptocurrencies (which I doubt is possible). Cryptocurrency (especially bitcoin) is a big threat to them. Their worst nightmare is that they might start  losing revenue especially from tax if all tax payers  adopt bitcoin. Their only problem with Bitcoin is it's decentralized nature which denies them the opportunity to be in control and know what's going in and out of a person's account, they are not happy with the mass adoption of BTC . But the good news is, bitcoin has come to stay, with time all those opposing bitcoin and cryptocurrencies as a whole will bow to the pressure  and adopt Bitcoin and  Altcoins like every one else

[pooya87]

He's afraid of Bitcoin? I don't believe that, when BTC never chased him out of the office or stopped him from living. I believe he's doing this for personal interest which I believe is about investment and one thing I notice is that these people never want people from the lower class to have access to something that will give them liberation.

It doesn't have to be one or the other. It is both.
Central banks are definitely worried about bitcoin's adoption and phenomenal growth, in fact the most corrupt banks are the most worried about this because they see their power ebbing away!

[Oasisman]

First, he is not a government staff nor a President of any country.
Second, JP Morgan is a big commercial bank but it is not the only bank globally.

well it makes so much sense that he, of all people, would hate bitcoin

bitcoin goes against what exactly a bank is of course they bankers would hate bitcoin, they are losing clients and in result they are losing profit

Or they can adopt to it and use it to take advantage of it. I knew a handful of local banks in here who have adopted into crypto and added direct bitcoin purchase using a banking app. Any banks could all do the same, but I think there's something more reason why JP Morgan and Dimon totally go against bitcoin. Just like what has been stated as they think bitcoin is nothing good but a tool for money laundering, funding criminals, and stuff like these. Well, I don't think they like the competition though for as we all know a lot of banks have been involved in money laundering and other criminal stuff.

[DYING_S0UL]

Nobody wants a competitor, and that's a fact. If I were in a business and someone opened a shop beside my shop, I would surely take that as a negative thing.

And as for money laundering, tax evasion, hiding transactions, or any other criminal offense, it's everywhere. It doesn't matter whether it's fiat or crypto. Money laundering or tax evasion existed long before the creation of bitcoin or crypto. And then there was a thing called banks for those activity, so everyone is aware of who the real threats are, lol. Today I saw a news of a man who took 5 million (50 lakhs in bdt) loan from a bank. He paid over 10.5 million in 10 years more then double the amount. But the bank is still demanding 2.5 million from that poor guy, threatening the person. And for Bitcoin it has only been around for a decade.

From my perspective, I think banking institutes and crypto serve the same purpose in a way, which is a method of payment. The only difference is that banks are centralized, meaning you don't have control over your own money, and crypto (bitcoin) is decentralized, meaning you are in control of your money.

[Bananington]

First, he is not a government staff nor a President of any country.
Second, JP Morgan is a big commercial bank but it is not the only bank globally.

well it makes so much sense that he, of all people, would hate bitcoin

bitcoin goes against what exactly a bank is of course they bankers would hate bitcoin, they are losing clients and in result they are losing profit

Or they can adopt to it and use it to take advantage of it. I knew a handful of local banks in here who have adopted into crypto and added direct bitcoin purchase using a banking app. Any banks could all do the same, but I think there's something more reason why JP Morgan and Dimon totally go against bitcoin. Just like what has been stated as they think bitcoin is nothing good but a tool for money laundering, funding criminals, and stuff like these. Well, I don't think they like the competition though for as we all know a lot of banks have been involved in money laundering and other criminal stuff.

Anyone can say whatever they think about BTC or cryptocurrency in general or sing about it being a complete tool for only criminals and money laundering, but everyone can see the uses and benefits and have been able to distinguish it as money of the future.
Banks accepting cryptocurrency or allowing their channels to buy crypto have done so because the government allows it and maybe considering adopting it as a legal tender it they get to see how the progress report and statistics of volatility that made it better still.

[DeathAngel]

Dimon is just scared of the unknown, he's enjoyed a system that has served him very well over many years. He’s a bit of a boomer & probably doesn’t enjoy change. Unfortunately for him he’s going to have to alter his way of thinking or people will move from JPM to Blackrock or similar. Move with the times or lose Jamie.

[Wind_FURY]

JPMorgan CEO said “I’ve always been deeply opposed to crypto, bitcoin, etc.”

Because they want us to continue using their legacy systems, and their plans to "upgrade" that is through CBDCs. A centralized digital currency they control programmatically, and "guided" by their rules.

Bitcoin, enforced by the consensus rules of the network, gives us the faculty to actually own our own digital assets, and therefore functioning as a right to actually own property in the internet.

[Dump3er]

JPMorgan CEO said “I’ve always been deeply opposed to crypto, bitcoin, etc.”

Because they want us to continue using their legacy systems, and their plans to "upgrade" that is through CBDCs. A centralized digital currency they control programmatically, and "guided" by their rules.

Bitcoin, enforced by the consensus rules of the network, gives us the faculty to actually own our own digital assets, and therefore functioning as a right to actually own property in the internet.

Jamie Dimon has several reasons to attack crypto, but I think he would also have several reasons to embrace it if he was smart and visionary. If something can't be stopped, I guess embracing is always better than opposing it unless it is something evil to humanity, which I believe he doesn't really think BTC is.

They are losing out on transaction business and they are also losing out on investment business because the younger generation isn't going to buy shares or ETFs when they can one-click buy crypto in their apps. Owning BTC is becoming a thing among the younger people. That's what I see in my closer environment. The number of questions I get asked by young people has been significantly increasing over the last few years. They find the topic interesting and they want to own some. The tendency to own digital assets takes away business from in-house brokers of banks like JP.

BTC doesn't charge a fee for owning an account. For a bank it makes a difference if someone parks 100k USD in the bank account, which can then be used to give out loans and earn money, or whether someone parks it in their own BTC wallet. And the whole trend is just starting and I think Jamie Dimon knows it.

But I have been asking myself this question countless of times, do these people really not own any BTC? They are rich already, yes. But if they see a growing trend and it doesn't cost them much to buy a small share in that movement as I would call it, would they really not do it for ideological reasons? If I hated art, but I would still be convinced it is going to explode in price, would I refrain from owning some? I think I wouldn't.

[Abiky]

No, USD and EUR will never be a thing of the past and this exact belief is the reason why some government officials are against BTC which was created to complement fiat currency.
Fiat currency may be redefined but it won't be a thing of the past.

Some countries have either adopted BTC as legal tender (eg: El Salvador, Central African Republic) or are about to do it (eg: Argentina). These are signs that BTC will become the world currency in the future. I know most governments want to push their agenda of rolling out CBDCs (Central Bank Digital Currencies) to the public. But the thing is, people are getting tired of ever-rising inflation rates (despite claims from central banks that inflation is easing off). This will cause distrust in the banking system patronized by mainstream governments worldwide.

You can see why Bitcoin has so many enemies. Particularly those within the banking sector (Jamie Dimon) and in the government itself (Elizabeth Warren). They don't want BTC to prevail, otherwise that would mean people will ditch Fiat (in this case the USD) in favor of a decentralized cryptocurrency governments can't get ahold of. Lets see what Jamie has to say after BTC goes all the way to $1m. Maybe he will change his mind once Blackrock gets its spot ETF approved by the SEC?