Bitcoin Spot ETFs approved, Bitcoin is not fraud. Where is Jamie Dimon?

[OcTradism]

Jamie Dimon said many times that Bitcoin is a fraud.

JPMorgan's Dimon says bitcoin 'is a fraud'
JPMorgan to give all wealth clients access to crypto funds.
Dimon’s many bitcoin moments of regret, in one chart.

Hours ago, SEC. approved 11 Bitcoin Spot ETFs and the big decision from SEC. is a valid recognition for Bitcoin. It is no longer a fraud and legally accepted in a biggest economic country USA.

‘Bitcoin Has No Value’: JP Morgan’s Jamie Dimon Says as Market Awaits ETF.

Bitcoin is not dead and Bitcoin is not a fraud. Since 2024, people in the USA. can invest in Bitcoin through Bitcoin Spot ETFs.

It is a very big win for Bitcoin and Bitcoin Spot ETF actually opens a new era for Bitcoin investors.

Gold ETFs changed gold price a lot.

[justdimin]

Jamie Dimon said many times that Bitcoin is a fraud.

JPMorgan's Dimon says bitcoin 'is a fraud'
JPMorgan to give all wealth clients access to crypto funds.
Dimon’s many bitcoin moments of regret, in one chart.

I do not know much about him, and why he would be related, but I see that as an issue to us. If we focus on what others are saying about us, we are not going to get anything done, we need to realize that this is not what we should be doing and we need to realize that we are at a point of turn in bitcoins history that if we could get this ETF actually approved, like it should be, then we are going to have something magnificent.

Price already took over to 47k levels and I think that should be the most important part, ignore who said what about bitcoin, we shouldn't be bitter about peoples opinions, let them all have their own opinion, as long as I keep making profit from bitcoin, I do not have any trouble with them saying anything at all.

[Lucius]

Why should anyone care what Jamie Dimon or any other banker thinks about Bitcoin? It is quite normal that all bankers (or the majority) have a negative opinion about Bitcoin, which is completely opposite to what they do and what they make profits from. Of course, as people who are always looking for ways to make money, bankers will look for ways to profit from Bitcoin, but never in a way that they will treat it as a currency.

I see that most people on this forum live in the illusion that the approval of spot BTC ETFs in the US is a sign that "they", and especially Gensler, think positively about Bitcoin, but the truth is that nothing has changed in this regard.

"We did not approve or endorse bitcoin," Gensler said. "Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto."

In fact, he said that bitcoin "is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware, money laundering, sanction evasion and terrorist financing."

[Ultegra134]

Why should anyone care what Jamie Dimon or any other banker thinks about Bitcoin? It is quite normal that all bankers (or the majority) have a negative opinion about Bitcoin, which is completely opposite to what they do and what they make profits from. Of course, as people who are always looking for ways to make money, bankers will look for ways to profit from Bitcoin, but never in a way that they will treat it as a currency.

I see that most people on this forum live in the illusion that the approval of spot BTC ETFs in the US is a sign that "they", and especially Gensler, think positively about Bitcoin, but the truth is that nothing has changed in this regard.

That's true; the ETF approval doesn't necessarily mean that they suddenly accepted Bitcoin as a currency or as an investment asset. The majority of bankers and politicians are against cryptocurrencies in general, and Bitcoin is not an exception either. Jamie Dimon isn't the first banker to state such an opinion; who is that guy anyway? Why should anyone bother? He's not the first, and he won't be the last either. How I see things is that they at least finally understood that they cannot stop the advancement of Bitcoin; thus, they're trying to have a share of that cake as well.

Personally, I expected a larger hype due to the ETF approval, which I find a little odd. Although it's still a positive event, if we suppose that it hadn't been approved, Bitcoin would still survive and would continue to progress.

[Liliana1304]

I see that most people on this forum live in the illusion that the approval of spot BTC ETFs in the US is a sign that "they", and especially Gensler, think positively about Bitcoin, but the truth is that nothing has changed in this regard.

That the SEC approved these spot ETFs only means they finally caved under the pressure from the likes of Black rock and Grayscale. The latter having won a court case of sorts over them and it will be unwise to think that because Gary Gensler approved those applications, it means he's now Bitcoin friendly
 
We're all aware of how much the SEC will do anything to have prolonged these ETFs but I guess the fact that many eyes are on them sort of changed the plan.

For Dimon's case, it's not news of how apathetic he is to Bitcoin and as long as people are entitled to giving their opinions, they should do it as it won't change the fact that Bitcoin is a moving train that can't be stopped and if for anything I guess that's the reason for his chronic displeasure.

Sometimes I wonder why they feel the financial institutions are less prone to money laundering or fraudulent activities and prefer to paint Bitcoin to be the bad guy. Is it that the financial institutions are more secure and have a tight security?

[Marvell1]

Where is Jamie Dimon?

One thing I saw is that after the ETFs were approved, many people gloated and started repeating the names of people who criticized bitcoin, calling bitcoin a scam to mock them. But does this make us better? Does it make us richer than them? And is there any guarantee that they are not secretly investing in bitcoin?

I think this will go nowhere and will not bring any benefit to our bitcoin investment. Instead, we should focus on our investments and improve our position and change our lives from our investments for the better.

[Fiatless]

Before now I used to read comments from people who have no knowledge about Bitcoin yet come up periodically with clueless predictions about the Bitcoin market. Jamie Dimon is an agent of FUD and anybody who believes these fake predictions will regret their actions later. It is a free world, however, where people are free to express their views about anything. So Jamie Dimon is free to say what he thinks about Bitcoin, but his views turned out to be wrong.

Personally, I expected a larger hype due to the ETF approval, which I find a little odd. Although it's still a positive event, if we suppose that it hadn't been approved, Bitcoin would still survive and would continue to progress.

I am also surprised that the price has not gone high after the approval. Could it be that the series of false approvals affected the confidence of potential investors? Nevertheless, these ETF firms just started trading today, hopefully, more money will be attracted to the market. But the price has remained stable which is a pointer that the market might be heading towards less volatility.

[Kelward]

Where is Jamie Dimon?

One thing I saw is that after the ETFs were approved, many people gloated and started repeating the names of people who criticized bitcoin, calling bitcoin a scam to mock them. But does this make us better? Does it make us richer than them? And is there any guarantee that they are not secretly investing in bitcoin?

I think this will go nowhere and will not bring any benefit to our bitcoin investment. Instead, we should focus on our investments and improve our position and change our lives from our investments for the better.

I think that it is ok to call out influencial people that criticized Bitcoin that it was a fraud, their stance on Bitcoin will undoubtedly influence multitude of people who follow them to think like them. So a milestone like this Bitcoin ETF that shows the SEC approval is a testament of the acceptance Bitcoin as a valued investment asset. So the likes of Jamie Dimon, who are renowned in the financial industry will understand that despite their personal negative opinions about Bitcoin that it's acceptance will keep increasing. I totally agree that we should concentrate more on our investment plans in Bitcoin, than on people that calls it a fraud.

[pakhitheboss]

Jamie Dimon said many times that Bitcoin is a fraud.

Why are you so upset about someone who never understood Bitcoin? Similar statements for Bitcoin, he made have been made before and that is precisely why Bitcoin remains strong. The idea of decentralization is a concern for someone holding the top position in a centralized infrastructure. As a community, we have encountered objections from people similar to him before. It's important not to dwell on these criticisms, as we know that Bitcoin will continue to grow and will one day become a legal tender worldwide. There's no need to complain to or engage with individuals who doubt Bitcoin's potential. I feel you would agree with my highlighted statement.

[franky1]

here is the way to imagine it

swap bitcoin for wheat
swap SEC for EPA
swap CEX/de-fi for local/independent farms
swap ETF for big agri
swap AP for industrial farms
swap asset for commodity

now here is the story
big agri commodity traders want to control wheat trade deals. control the price and such. so they lobby the EPA to restrict family farms from doing trade so that big-agri can have advantage. they want to unnaturalise wheat into two categories. dirty wheat and clean monsanto wheat

they send inspectors out to advertise people should clean their wheat and offer services. but then once clean they then claim the family farms are using wheat tainted with plague or not registering their wheat seed with monsanto as legitimate so sue the family farms. the EPA also come along and require family farms to meet higher standards of processing wheat than big agri. because big agri can self regulate

industrial farms wants the commodity wheat exposure for trading but doesnt want the local independent farms wheat as they sees it as dirty unregistered stuff

wheat is not fraud. it suppose to be natural and un-patent-able... but in big agri eyes they see it as plague wheat or monsanto wheat. both of which they dont want independent farms trading without their permission and higher standards and inspections


make sense?
the game is not new

[DooMAD]

Where is Jamie Dimon?

Last I checked, he was still running a company that, on more than one occasion, has been charged with fraud and market manipulation, which makes him a colossal hypocrite.    

I think he was just jealous that he wasn't allowed to interfere in our market (until now, anyway).  There was market rigging to be done and he clearly felt left out.   

https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-920-million-connection-schemes-defraud-precious-metals-and-us
https://www.bbc.co.uk/news/business-25641476
etc

[avikz]

His comments still matters??? I thought Bitcoin community had forgotten and forgiven Jemie for his childish comments long back. I remember Jemie's comment had actually made an impact on Bitcoin price back in 2017. But after that the cryptocurrency community have realised that he doesn't matter at all.

Late him speak, let him hurl all the abuses he knows. Let him weep and do whatever he wants to do. He does not matter. Success is best enjoyed in silence.

[Arkann]

His comments still matters??? I thought Bitcoin community had forgotten and forgiven Jemie for his childish comments long back. I remember Jemie's comment had actually made an impact on Bitcoin price back in 2017. But after that the cryptocurrency community have realised that he doesn't matter at all.

Late him speak, let him hurl all the abuses he knows. Let him weep and do whatever he wants to do. He does not matter. Success is best enjoyed in silence.

A person is successful in his activities and no one will dispute this. But it seems to me that all of Dimon’s recent actions are aimed at gaining popularity, fame and recognition. Although I could be wrong of course.

[OcTradism]

Last I checked, he was still running a company that, on more than one occasion, has been charged with fraud and market manipulation, which makes him a colossal hypocrite.

He lied just like many people from government and in society who dislike Bitcoin, want to find any reason to say Bitcoin is a fraud, is bad and so on.

Democrats Dissent On SEC Spot Bitcoin Approval, Gensler Distances Himself From 'Terrorist-Financing' Crypto.
The original source for Commissioner Hester M. Peirce's statement

Fifth, we have alienated a generation of product innovators within our space. Our unreasonable approach to these applications has signaled that regulatory prejudice against new products and services can lead us to sidestep the law and unreasonably delay product launches. The industry has logged hundreds of meetings, has filed submissions, withdrawals and amendments, and ultimately had to resort to a costly legal battle to get us to today.

Hester Peirce used very strong words to express her opinion on this issue, role of SEC. and what they did before this approval batch includes many shame faults. I consider her letter is like a direct strong slap against Gary Gensler.

Gary Gensler spread lies again even he voted Yes.
Statement on the Approval of Spot Bitcoin Exchange-Traded Products

Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware, money laundering, sanction evasion, and terrorist financing.

While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.

[Lucius]

His comments still matters??? I thought Bitcoin community had forgotten and forgiven Jemie for his childish comments long back.
~snip~

As strange as it may seem, many people have the need to constantly listen and watch people like Jamie, Buffett, Mr. Mars or Gates because they admire them for some reason. I believe that many respect their opinion to the extent that they want nothing to do with Bitcoin because of their views.

Sheep always follow the leader of the flock, so let's say that one Saylor has only 3.2 million followers on shitter, and Mr. Mars even has 169 million followers. There is no doubt about whose opinion people value more.

[Marvell1]

Where is Jamie Dimon?

One thing I saw is that after the ETFs were approved, many people gloated and started repeating the names of people who criticized bitcoin, calling bitcoin a scam to mock them. But does this make us better? Does it make us richer than them? And is there any guarantee that they are not secretly investing in bitcoin?

I think this will go nowhere and will not bring any benefit to our bitcoin investment. Instead, we should focus on our investments and improve our position and change our lives from our investments for the better.

I think that it is ok to call out influencial people that criticized Bitcoin that it was a fraud, their stance on Bitcoin will undoubtedly influence multitude of people who follow them to think like them. So a milestone like this Bitcoin ETF that shows the SEC approval is a testament of the acceptance Bitcoin as a valued investment asset. So the likes of Jamie Dimon, who are renowned in the financial industry will understand that despite their personal negative opinions about Bitcoin that it's acceptance will keep increasing. I totally agree that we should concentrate more on our investment plans in Bitcoin, than on people that calls it a fraud.

But we don't know what their real purpose is when they do those things. Rich people never want to share their wealth with others, so they will find ways to keep others away from ways to become rich like them. I mean, those who spread negative things about bitcoin don't mean they hate bitcoin and don't invest in it. Maybe they're just trying to keep people away from it so they can enjoy bitcoin for themselves. Honestly, I have a feeling that the people who talk bad about bitcoin are the ones who own it the most. So when we criticize them, it doesn't have any effect or benefit, and it's like we're falling into their trap.

[dothebeats]

Huge banks like Chase will probably look into bitcoin ETFs more carefully and intensely now that they have been approved. Their business is to make money, and I don't think Dimon's huge ego will stop this from manifesting. Financial collosals like Blackrock and Valkyrie  installing their permanent seats on this new venture will surely make bank executives to do a second take on whether they're going to bite the crypto bullet or just keep on meddling with their traditional investment vehicles. Give it some time, and once Dimon sees that bitcoin is just not another 'snake oil' like he's thinking, he'll certainly jump aboard the bitcoin ship.

[Ale88]

Jamie Dimon said many times that Bitcoin is a fraud.

Jamie Dimon has been talking trash about bitcoin for years now, but at the same time his bank, if I recall correctly, does offer some possibility to invest in bitcoin, I don't remember how and I don't care anyway. For me he just tries to manipulate a little the market with his declarations. Of course nobody should care about his opinions, he has nothing to share with the crypto world.

[kryptqnick]

Some people just enjoy making loud statements because it gives them publicity, and some think there's no such thing as bad publicity. Also, some people are against Bitcoin because they've made their wealth in traditional markets and consider Bitcoin a threat to those markets, something unnecessary and destabilizing. I don't know what kind of person he is, but I believe it's embarrassing to be so wrong about Bitcoin when you're supposed to be good at Economics and at understanding investments. It's either his emotions or a strategic choice to capitalize on publicity that prevent him from being objective about Bitcoin.

[Wind_FURY]

Some people just enjoy making loud statements because it gives them publicity, and some think there's no such thing as bad publicity. Also, some people are against Bitcoin because they've made their wealth in traditional markets and consider Bitcoin a threat to those markets, something unnecessary and destabilizing. I don't know what kind of person he is, but I believe it's embarrassing to be so wrong about Bitcoin when you're supposed to be good at Economics and at understanding investments. It's either his emotions or a strategic choice to capitalize on publicity that prevent him from being objective about Bitcoin.

It's absolutely OK to be looking for publicity, but he should definitely be careful in what he says. I can't find the video right now, but in that video, Jamie Dimon said that he believes SATASHI, yes he actually said SATASHI, will come back and either "increase" the Bitcoin supply or "erase" it.

¯\_(ツ)_/¯

He's very misinformed about Bitcoin and it's so laughable that he goes on T.V. talking like he has practical knowledge on the system. The smartest and the most technical people in Bitcoin couldn't sometimes agree what Bitcoin is or have the same viewpoint, but Jamie Dimon talks like he knows everything about it.