Jamie Dimon said he would close Bitcoin down if he was in government - page 3.

Bananington

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Quote from: Oasisman on December 15, 2023, 12:40:33 AM

Quote from: btc78 on December 06, 2023, 10:21:18 PM

Quote from: SquirrelJulietGarden on December 06, 2023, 09:51:45 PM

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.

DYING_S0UL

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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.

Oasisman

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Quote from: btc78 on December 06, 2023, 10:21:18 PM

Quote from: SquirrelJulietGarden on December 06, 2023, 09:51:45 PM

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.

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Quote from: suzanne5223 on December 13, 2023, 06:41:47 PM

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!

Zoomic

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Quote from: _BlackStar on December 14, 2023, 05:11:05 PM

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

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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.

shield132

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Quote from: bbc.reporter on December 06, 2023, 09:29:43 PM

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.

Renampun

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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.

Baofeng

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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

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Quote from: Natsuu on December 14, 2023, 02:55:20 AM

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.

Natsuu

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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

CODE200

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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.

Quote from: zaim7413 on December 14, 2023, 12:15:48 AM

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.

SquirrelJulietGarden

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Quote from: zaim7413 on December 14, 2023, 12:15:48 AM

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.

zaim7413

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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.

bbc.reporter

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Quote from: Abiky on December 13, 2023, 01:40:03 PM

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.

suzanne5223

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Quote from: Abiky on December 12, 2023, 04:37:11 PM

Quote from: suzanne5223 on December 11, 2023, 06:48:43 PM

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.

Quote from: Abiky on December 12, 2023, 04:37:11 PM

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.

Quote from: Abiky on December 12, 2023, 04:37:11 PM

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? Roll Eyes

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

Abiky

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Quote from: The Cryptovator on December 12, 2023, 05:16:10 PM

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.

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Quote from: Dump3er on December 10, 2023, 05:18:08 PM

Quote from: spectre71 on December 10, 2023, 04:59:00 PM

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.

The Cryptovator

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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.

Abiky

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Quote from: suzanne5223 on December 11, 2023, 06:48:43 PM

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? Roll Eyes

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