Jamie Dimon said he would close Bitcoin down if he was in government - page 5.

Abiky

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Quote from: YUriy1991 on December 06, 2023, 11:52:38 PM

This happened after bitcoin rose and will become the currency of the future. It's simple if you look at the direction of Jamie Dimon's conversation. The government cannot possibly allow the currency to exist without regulated supervision and the government wants to control the amount of their money.

Jamie Dimon is just another hater. He is a banker, so it's normal to see him spreading negative comments of Bitcoin. Warren Buffet is another hater that belongs to the old generation. These "dinosaurs" will eventually become history, as the new generation embraces digital payments for their own benefit.

Like or not, crypto is the future of money. Bankers, the elite, and governments are afraid of Bitcoin because it provides people the ability to become their own bank (true financial freedom, and sovereignity). Since it's decentralized, no one can control/manipulate it to his/her own will. That's the main reason why Bitcoin has its enemies.

Ultimately, BTC will continue to grow until it beats Fiat currencies for good. Some countries went as far as adopting it as legal tender, so either you join the revolution or get left behind in the dust. What will be closing down is not Bitcoin, but the US Dollar once inflation spirals out of control. A devalued USD would be completely worthless. Bad for Jamie, but good for Bitcoin overall. Just my opinion

yazher

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Quote from: KiaKia on December 07, 2023, 11:55:29 AM

Bitcoin is now looking like it will eradicate the banking sector but I don't see how banks wont still be needed anyway, they should just stop the hate already.
I am more bullish than ever for this coming from JP Morgan, maybe he is confused by the crazy queen Elizabeth who knows? You guys should be expecting more as Bitcoin value grows higher, I guess people like them don't expect the Bitcoin to make it this far, and their business is also threaten by the existence of Bitcoin, its so obvious.

Obviously, they want to monopolize the profit and they don't want any competitors as we can see, they do everything they can to eradicate and make Bitcoin as abs as they can to the public eyes but those who know the truth won't really pay attention to these kinds of guys because clearly, they can see the good result in the crypto market nowadays where bitcoins price are increasing once again. Once the people see the price will create another legendary historical ATH, they won't gonna listen to these bank owners but instead, they will just simply buy their own bitcoins and join the revolutionary financial trend.

bbc.reporter

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Quote from: DooMAD on December 07, 2023, 02:35:24 PM

I see he's not getting any smarter with time.

Delusional idiocy around "closing down Bitcoin" aside, did he somehow forget that his company offers "an in-house passively managed bitcoin fund"? What a fucking hypocrite! Cheesy

https://finance.yahoo.com/news/jpmorgan-let-clients-invest-bitcoin-110851292.html
https://www.cnbc.com/2021/08/05/bitcoin-jpmorgan-led-by-jamie-dimon-quietly-unveils-access-to-a-half-dozen-crypto-funds.html
https://www.nasdaq.com/articles/jpmorgan-jpm-offers-in-house-bitcoin-fund-to-wealthy-clients-2021-08-05

He doesn't like bitcoin, however, he likes the fees that JPMorgan gets from their clients for investing in bitcoin hehehe. This is certainly why we shouldn't trust any words that come out from his mouth about bitcoin or other cryptocoins. People like Jaime Dimon are only there to do what is profitable for them. They want more wealth for themselves and less for you.

Ale88

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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.

In any case, do they feel threatened? It appears that they do not like competition on their moneylaundering, tax evasion and off the books transactions operations that they do for their rich clients hehehe.

It is okay for them if the rich do this, however, if given this type freedom to the poor, they will say this is evil.

People like Jamie Demon are the exact reason why a tool like bitcoin was created in the first place. How any banker can have the guts to mention things like money laundering and tax evasion is a mystery to me. At least keep doing your dirty stuff while you hide and keep your mouth shut but no, he's actually bothered that a few people may do the things they usually do through banks using another way.

Anyway "close down bitcoin" doesn't really mean anything.

dothebeats

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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.

TimeTeller

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Quote from: Sanitough on December 07, 2023, 03:53:10 PM

Now, that people know his stance on bitcoin, for sure bitcoin enthusiasts will never support him so he won't be seen gaining a position in the government. His stance on bitcoin shows a lot of hatred, that's why I came to think what is there in fiat that he needs to protect it just like himself. If he's running a monkey business with fiat, then it's obvious why he's behavior towards bitcoin is like that.

But this is just his part of the plan. And we still don't see him in the government yet, so this still remains an illusion for him.

By now, he should already know that no one can totally shutdown bitcoin operations because of its decentralized nature.
So yes, it will just be an illusion for him. And the possibility of changing his stance in the future will always be there.
Because if this technology goes to mainstream, it means, he will encounter people or businesses that are into this market, and he can't totally avoid them.

mv1986

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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.

In any case, do they feel threatened? It appears that they do not like competition on their moneylaundering, tax evasion and off the books transactions operations that they do for their rich clients hehehe.

It is okay for them if the rich do this, however, if given this type freedom to the poor, they will say this is evil.

JPMorgan CEO Jamie Dimon says he would close down Bitcoin and crypto if he were the US Government. Speaking to senators today, the JPMorgan CEO said “I’ve always been deeply opposed to crypto, bitcoin, etc.” 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.

“If I were the government I’d close it down,” Dimon concludes about Bitcoin and crypto as a whole. Jamie Dimon has been vocal in his opposition to Bitcoin especially, saying in the past that Bitcoin was “a fraud.” The top cryptocurrency has been leading the charge of a surge for multiple crypto on the current market over the past month, with SEC approval of Bitcoin ETFs on the verge of becoming a reality.

Read in full https://watcher.guru/news/jamie-dimon-would-close-down-bitcoin-if-he-were-in-government

This may be true for Jamie Dimon, but I am sure he has countless of customers storing their hundreds of millions of dollars made with Bitcoin at JP Morgan Chase Tongue

Jamie Dimon isn't the government and he doesn't seem to know all that much about Bitcoin, but here is someone who says something that I am sure the government will listen to carefully:

"Bitcoin is of ‘national strategic importance’ says US Space Force officer"

Opinions can differ, but this US Space Force officer understood that Bitcoin is much more than just digital money being shuffled around and speculated on. The network is groundbreaking with the entire security and incentive (infra-)structure it features.

Honestly, it is somehow shocking to still see a genius mind like Jamie Dimon (I assume he is pretty intelligent) to still talk that way about Bitcoin. So many banks have taken a U-turn now. But he refuses to do it either for ideological reasons, or for being the typical Homo economicus trying to protect their own interest, or for being about to become senile. Someone like him should be able to reconsider a point of view, but he doesn't. He probably paid for dinner with Warren Buffett too often.

BenCodie

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I love this clown. Every time he speaks, he makes a mockery of himself that ages like a nice red wine.

Someone needs to update this graph up to date with his latest comment:

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

Jamie Dimon and JP Morgan have ridiculous history against Bitcoin.

JPMorgan's Dimon says bitcoin 'is a fraud'
JPMorgan to give all wealth clients access to crypto funds.

From 2017 to 2021, JP Morgan changed a lot and what changes will they do in next years?

This one is more interesting. Dimon’s many bitcoin moments of regret, in one chart.

In all seriousness. JP Morgan have their ETF application as well as the other institutions. While people are excited for their decision, it is concerning that these parties are accumulating Bitcoin. If they share similar opinions, what will they try/what are they capable of doing to Bitcoin's market later on, maybe via their ETFs collaboratively?

Sanitough

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Now, that people know his stance on bitcoin, for sure bitcoin enthusiasts will never support him so he won't be seen gaining a position in the government. His stance on bitcoin shows a lot of hatred, that's why I came to think what is there in fiat that he needs to protect it just like himself. If he's running a monkey business with fiat, then it's obvious why he's behavior towards bitcoin is like that.

But this is just his part of the plan. And we still don't see him in the government yet, so this still remains an illusion for him.

South Park

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Quote from: DooMAD on December 07, 2023, 02:35:24 PM

I see he's not getting any smarter with time.

Delusional idiocy around "closing down Bitcoin" aside, did he somehow forget that his company offers "an in-house passively managed bitcoin fund"? What a fucking hypocrite! Cheesy

https://finance.yahoo.com/news/jpmorgan-let-clients-invest-bitcoin-110851292.html
https://www.cnbc.com/2021/08/05/bitcoin-jpmorgan-led-by-jamie-dimon-quietly-unveils-access-to-a-half-dozen-crypto-funds.html
https://www.nasdaq.com/articles/jpmorgan-jpm-offers-in-house-bitcoin-fund-to-wealthy-clients-2021-08-05

Bankers and politicians have never distinguished themselves for their honesty, and if anything it is a characteristic that will hold them back on their attempt to gain more money, influence and power, so it should not be that surprising that he is badmouthing bitcoin at every opportunity that he has while at the same time his company is offering bitcoin products to their clients, still it is not as if he has the power to close bitcoin down and if anything I would like to see him try.

Stepstowealth

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

It is okay for them if the rich do this, however, if given this type freedom to the poor, they will say this is evil.

Since bitcoins are decentralized assets, neither organizations nor the government can ban them. JP Morgan and Jamie Dimon discussed eliminating cryptocurrencies, but they neglected to discuss the underlying technology. It's fascinating to hear that Jamie Dimon and JP Morgan regret not investing in cryptocurrencies sooner after realizing the promise of cryptocurrencies. It is in the same exact manner that some others will regret their current actions against bitcoins later when they could have started earlier.

Finestream

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This is expected for someone who don't really see the true potentials of bitcoin and for someone who don't understand why bitcoin exists. And to be honest, with all his actions, it's clear as a crystal ball that he is triggered with the existence of bitcoin because it can gradually stop money laundering with fiat. Which I think Dimon probably knows about it that's why he's protecting fiat over bitcoin.

But let's see if they can actually shut down bitcoin if he's now already sitting in the government. Sometimes, decisions change when you are actually in the position, so let's wait and see.

abel1337

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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. It does not have super powerful power to do anything that can harm and shut down Bitcoin.

Jamie Dimon and JP Morgan have ridiculous history against Bitcoin.

JPMorgan's Dimon says bitcoin 'is a fraud'
JPMorgan to give all wealth clients access to crypto funds.

From 2017 to 2021, JP Morgan changed a lot and what changes will they do in next years?

This one is more interesting. Dimon’s many bitcoin moments of regret, in one chart.

This shows how his comments and opinions don't really affects the market even if he/his company is well known in the finance industry. Those who believe him would probably has a regret in not buying some bitcoin.

With this chart, the market or his followers will just invalidate his opinion about bitcoin. His comments don't make sense at all and didn't even touched the reality.

With all the negativity that Jamie Dimon showed on bitcoin over the years, I wonder if he is doing this with the intent of plummeting the price to accumulate and buy some. We don't know, but he might be a bitcoin whale or some sort or just showing that he is anti-bitcoin just to evade the possible taxes he might face with the government. Just my speculative thoughts.

DooMAD

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Leave no FUD unchallenged

I see he's not getting any smarter with time.

Delusional idiocy around "closing down Bitcoin" aside, did he somehow forget that his company offers "an in-house passively managed bitcoin fund"? What a fucking hypocrite! Cheesy

https://finance.yahoo.com/news/jpmorgan-let-clients-invest-bitcoin-110851292.html
https://www.cnbc.com/2021/08/05/bitcoin-jpmorgan-led-by-jamie-dimon-quietly-unveils-access-to-a-half-dozen-crypto-funds.html
https://www.nasdaq.com/articles/jpmorgan-jpm-offers-in-house-bitcoin-fund-to-wealthy-clients-2021-08-05

coolcoinz

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Quote from: mk4 on December 06, 2023, 09:59:18 PM

"The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance."

I mean — if he thinks that, obviously he wouldn't want bitcoin to exist; because if you're in a certain business, why would you want a competitor that could potentially destroy your business?

"Since 2000, regulators fined banks 7,400+ times totaling to fines of $380+ Billion, about 1/3rd of the total crypto market capitalization today. Either banking is criminal by definition or the rules are broken. The crypto space looks like a nunnery by contrast." — Gabor Gurbacs (https://twitter.com/gaborgurbacs/status/1726974307405033840)

Let's not forget Jamie's daughter. She bought bitcoin a few years ago. He should've thought of that before calling her a criminal Wink

Since we're talking about criminals... I remember Jamie saying he'd fire anyone who trades bitcoin and then a year or two later his company was caught trading while Jamie used his influence to tweet negative things about bitcoin and make money shorting the price when market reacted.

Stupid bankster who thinks he owns everything.

KiaKia

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Coming some a company that have broken the law too many times in the past and this company is one of the most law breaking company that I know, bravo, they nailed that very effectively.

Bitcoin is now looking like it will eradicate the banking sector but I don't see how banks wont still be needed anyway, they should just stop the hate already.

I am more bullish than ever for this coming from JP Morgan, maybe he is confused by the crazy queen Elizabeth who knows? You guys should be expecting more as Bitcoin value grows higher, I guess people like them don't expect the Bitcoin to make it this far, and their business is also threaten by the existence of Bitcoin, its so obvious.

Hamza2424

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Quote from: adaseb on December 06, 2023, 11:01:17 PM

His stance on bitcoin was never positive. Just like Warren Buffet. I don’t think he will ever come to terms and accept it.

However besides banning businesses and customers of his bank from acquiring crypto, there isn’t more harm he can do. He doesn’t have enough influence of the SEC to get it from being approved.

Whenever he mentions something about bitcoin, just ignore it.

Hmm, well I've noticed it with many of the personalities, TBH we can consider such people as not open to talk are are just on the oneway road and in ego the fire of ego hehe they wont even take a U-turn. In end i just ignore them as who cares haha.

NeilLostBitCoin

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I don't think even if someone is in the government, they have the power to stop Bitcoin. Those who have ulterior motives would still use it anonymously even if it were banned. It does not make sense to ban Bitcoin as it benefits many people. I am certain that many government officials use Bitcoin for the same purposes that they claim to want to ban it for. It is clear that many of them benefit from its use.

Kakmakr

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" JPMorgan Chase has been fined nearly $39 billion for all kinds of claims of misconduct, including anti-competitive practices, securities abuses, cheating worker pay, and other violations." - Source : https://goodjobsfirst.org/jpmorgan-chase-has-paid-38995000000-in-fines-for-banking-securities-and-additional-violations-as-new-sec-enforcement-action-kicks-in/

" In 2020, JPMorgan Chase was fined $920 million for trading misconduct and deceptive behavior. U.S. regulator The Commodity Futures Trading Commission said that the bank had engaged in deceptive trades over the last 8 years.. " : Source https://www.enzuzo.com/blog/biggest-aml-fines

So, if you point fingers at someone..... make sure 4 fingers are not pointing back at you. Do I need to say anything else?

Franctoshi

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This is not new to the crypto or first of its kind, that we saw people made similar statements or the first time he had talked some negative things about Bitcoin.The bull market is around the conner and we should expect or prepare to see statements like this in the coming days to actully fool the fools, Follow the money and don't follow what they say. Even for the government itself, it hasn't been easy for the government to ban Bitcoin because it's truly decentralized. However, he is entitled to his opinion or view about Bitcoin but in the end the statement won't hold water.

Topic: Jamie Dimon said he would close Bitcoin down if he was in government - page 5. (Read 1014 times)