JP Morgan buys Bitcoin (after Dimon crashed the market)

peter0425

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Quote from: redsun114 on October 21, 2017, 05:44:55 AM

Quote from: aesma on October 20, 2017, 01:40:53 AM

Quote from: MadMac on September 16, 2017, 09:22:22 AM

Well, how often can you do that? He did it now and he burnt himself. Nobody will listen to this clown afterwards. But maybe he thought the timing was right. They bought in massively, riding on the Chinese uncertainty. So probably not a bad move for JPM.

If they bought in massively that's not what we're being shown.

Half a million is chump change for JPMorgan.

Probably one trader given the authorization to play with 0,1% of his portfolio on BTC, or something like that.

Whatsoever is the case; Jamie should have taken a good look of his banks first and then come out giving some statement about bitcoin. He simply hates bitcoin because he is fully aware of the threat that lays in bitcoin to the whole banking system.

On contrary to this, JP Morgan understands the importance of digital gold and could not resist its benefits for long. It would be much better for the bank and CEO to accept and support bitcoin, which is the future of money.

One time of another banks will really have to give in with crypto, and it will be really hard for them to really ignore of even treat it as an enemy. Both of bitcoin and banking system should have like sort of compromised or a middle ground so that we, the people can harness the benefits of both system. We have to admit, bitcoin or cryptocurrency won't make them disappear in the face of the earth, never, banking system has been with us thousand of years. So there's no way that bitcoin can replaced them.

redsun114

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Quote from: aesma on October 20, 2017, 01:40:53 AM

Quote from: MadMac on September 16, 2017, 09:22:22 AM

Well, how often can you do that? He did it now and he burnt himself. Nobody will listen to this clown afterwards. But maybe he thought the timing was right. They bought in massively, riding on the Chinese uncertainty. So probably not a bad move for JPM.

If they bought in massively that's not what we're being shown.

Half a million is chump change for JPMorgan.

Probably one trader given the authorization to play with 0,1% of his portfolio on BTC, or something like that.

Whatsoever is the case; Jamie should have taken a good look of his banks first and then come out giving some statement about bitcoin. He simply hates bitcoin because he is fully aware of the threat that lays in bitcoin to the whole banking system.

On contrary to this, JP Morgan understands the importance of digital gold and could not resist its benefits for long. It would be much better for the bank and CEO to accept and support bitcoin, which is the future of money.

okala

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He was pay for that comments he made and many investors has directed him to go and study very well as he has little knowledge about bitcoin.If Jamie is sounds on cryptocoins he will not called bitcoin a fraud. His daughter has also invested in bitcoin and thank God JP Morgan his pay master has also buying bitcoin. Who is a fraud now?

aesma

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Quote from: MadMac on September 16, 2017, 09:22:22 AM

Well, how often can you do that? He did it now and he burnt himself. Nobody will listen to this clown afterwards. But maybe he thought the timing was right. They bought in massively, riding on the Chinese uncertainty. So probably not a bad move for JPM.

If they bought in massively that's not what we're being shown.

Half a million is chump change for JPMorgan.

Probably one trader given the authorization to play with 0,1% of his portfolio on BTC, or something like that.

matchi2011

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Lol. Expect nothing less from these bankers. Of course they know where the money is. I'm not going to be surprised if dimon is releasing those statements just to try and manipulate the price. The timing is quite impeccable as it was made almost at the same time china cracked down on exchanges.

jaysabi

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Quote from: neurotypical on September 16, 2017, 09:01:13 AM

Quote

JP Morgan, the global banking giant, has bought 19,102 bitcoin shares in the Swedish Nasdaq traded bitcoin ETN, translating to around 95 bitcoins, worth some half a million dollars.

They also sold around 9,000 shares, translating to some 40 bitcoins, seemingly keeping the rest, at least for now, according to data provided by the ETN.

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

How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired.

Price crashes and hours later the buy a lot of BTC.

Looks like panic sellers got played out by the whales again.

It's not funny at all if you have all the facts. JP Morgan didn't buy any shares with its own money. These trades are executed on behalf of their clients. Dimon is anti-bitcoin, and he means it. He's not putting any of the bank's money into it. JP Morgan still runs a business though, and if their clients want to buy bitcoin, they will facilitate that trade for a fee. The average person on this board wants to believe in conspiracies so bad that they are predisposed to take partial information and scream about what a racket it is.

franco123

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Quote from: neurotypical on September 16, 2017, 09:01:13 AM

Quote

JP Morgan, the global banking giant, has bought 19,102 bitcoin shares in the Swedish Nasdaq traded bitcoin ETN, translating to around 95 bitcoins, worth some half a million dollars.

They also sold around 9,000 shares, translating to some 40 bitcoins, seemingly keeping the rest, at least for now, according to data provided by the ETN.

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

How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired.

Price crashes and hours later the buy a lot of BTC.

Looks like panic sellers got played out by the whales again.

Yup. This is a surprising news given that the company, JP Morgan, are making statements that Bitcoin is a big joke and everything. But I did expected this because the positive and consistent performance of Bitcoin has been going for the past 5 years. Maybe it is still riskt, but all the investments are risky. You can manage the risk by just knowing when to buy or sell. And to do this, you need to have both your technical and fundamental analysis. JP Margon must have realized that.

YellowRiver

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Quote from: esatceza on October 17, 2017, 01:40:07 PM

Perhaps it is the effect of JP Morgan on the user, they want to make the user nervous and sell all Bitcoin at a low price and the acquisition of Bitcoin will become extremely easy. They say Bitcoin is a fraud and Bitcoin users are idiots while they have bought and stockped a lot of Bitcoin, which denied what they said, and everything was just fabricated and they wanted to stimulate consumer demand make profit

As JP had bought bitcoin this will be very good for the sake of new investor and now the people who are following him will surely come toward the bitcoin and I don’t know why he was talking false if he was interested in it and now he is also in community he must get what other gets and one day he will give the statement that he is sorry upon his statements.

CryptoBry

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Quote from: PizzaBTC on October 19, 2017, 03:51:58 AM

Quote from: Orsenise on October 16, 2017, 07:56:48 AM

Jamie has already turned back on many of his promises. He started by stating that Bitcoin is a fraud. Then changed that to Bitcoin's underlying technology (blockchain) might be actually useful. Next he said that he'll never talk about BTC again, and the next day, he starts talking about BTC again saying how useless it is (since it's not backed by a legal institution/government). In my opinion the man has no idea of what he's talking about. He might be good in finance, but he's old, and out of touch regarding technological evolutions. Stay at what you're good at Jam

This is the thing many of us predicted that he will be attracted toward bitcoin as he will know about its advantages and that time has come he knew that he cannot turn things against bitcoin because bitcoin is name of faith and believe so he just started into bitcoin so that he can also get benefits as other are enjoying and on behalf of this he must apologize the bitcoin community.

Jamie Dimon is just a man who loves some attention thrown into him and he did it by issuing controversial statements which the mainstream can immediately cover more so because Bitcoin is still new and they know that in covering the news anything novel can be get more views from the public's curiosity. However, after what happened in September the Bitcoin market and community is not anymore interested with anything he has to say or anybody from the financial sector attacking Bitcoin as they are just saying something in common like a choir in chorus.

Faroxx

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Quote

How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired.

Price crashes and hours later the buy a lot of BTC.

Looks like panic sellers got played out by the whales again.

hmm, is it me or after that CEO of JP Morgan can be called a liar and a cheat?

PizzaBTC

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Quote from: Orsenise on October 16, 2017, 07:56:48 AM

Jamie has already turned back on many of his promises. He started by stating that Bitcoin is a fraud. Then changed that to Bitcoin's underlying technology (blockchain) might be actually useful. Next he said that he'll never talk about BTC again, and the next day, he starts talking about BTC again saying how useless it is (since it's not backed by a legal institution/government). In my opinion the man has no idea of what he's talking about. He might be good in finance, but he's old, and out of touch regarding technological evolutions. Stay at what you're good at Jam

This is the thing many of us predicted that he will be attracted toward bitcoin as he will know about its advantages and that time has come he knew that he cannot turn things against bitcoin because bitcoin is name of faith and believe so he just started into bitcoin so that he can also get benefits as other are enjoying and on behalf of this he must apologize the bitcoin community.

Biggapp

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Quote from: Orsenise on October 16, 2017, 07:56:48 AM

Jamie has already turned back on many of his promises. He started by stating that Bitcoin is a fraud. Then changed that to Bitcoin's underlying technology (blockchain) might be actually useful. Next he said that he'll never talk about BTC again, and the next day, he starts talking about BTC again saying how useless it is (since it's not backed by a legal institution/government). In my opinion the man has no idea of what he's talking about. He might be good in finance, but he's old, and out of touch regarding technological evolutions. Stay at what you're good at Jam

The more people are being a part of the bitcoins are increasing so buy the bitcoin and then invest in the bitcoin. The people who are getting into the bitcoin and then being the part of the bitcoin so be the part of the bitcoin so the importance of the bitcoin is increasing more and more, bitcoin is getting more high so it is the time to have the money and buy the bitcoin to the high price.

esatceza

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Perhaps it is the effect of JP Morgan on the user, they want to make the user nervous and sell all Bitcoin at a low price and the acquisition of Bitcoin will become extremely easy. They say Bitcoin is a fraud and Bitcoin users are idiots while they have bought and stockped a lot of Bitcoin, which denied what they said, and everything was just fabricated and they wanted to stimulate consumer demand make profit

Kevin77

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Quote from: AmXProX on October 16, 2017, 04:57:06 AM

So it was a step to have the price go low so that they can buy coins and hold them until price is high. This banking tycoons are seeing the coins potential,

What were you really expecting in the first place. These are the guys who have always found a way to usually manipulate the market for their own gains. Countries, top guys and everyone knows bitcoin is unstoppable, but due to their position, most of them, probably felt left out for not believing it could work and ended up trying to find the right time in.

The support though is growing stronger, weaker hands are even getting stronger, and there is little no one can do now with FUDs. Most reasonable ones who have nothing to hide such as bill gate, already said it is an innovation that will disrupt and nothing can stop it.

azguard

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Quote from: Orsenise on October 16, 2017, 07:56:48 AM

Jamie has already turned back on many of his promises. He started by stating that Bitcoin is a fraud. Then changed that to Bitcoin's underlying technology (blockchain) might be actually useful. Next he said that he'll never talk about BTC again, and the next day, he starts talking about BTC again saying how useless it is (since it's not backed by a legal institution/government). In my opinion the man has no idea of what he's talking about. He might be good in finance, but he's old, and out of touch regarding technological evolutions. Stay at what you're good at Jam

Market and price manipulation you say one big lie to drop something that you want to buy in large amount then you say opposite and price is boom.
And you are right he dont know what he is saying and what that is even mean if he need to answer a single question that is related to crypto think that he would say to buy it.

Orsenise

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Jamie has already turned back on many of his promises. He started by stating that Bitcoin is a fraud. Then changed that to Bitcoin's underlying technology (blockchain) might be actually useful. Next he said that he'll never talk about BTC again, and the next day, he starts talking about BTC again saying how useless it is (since it's not backed by a legal institution/government). In my opinion the man has no idea of what he's talking about. He might be good in finance, but he's old, and out of touch regarding technological evolutions. Stay at what you're good at Jam

nomad1109

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He obviously did not do this to dump the prices of Bitcoin to get a good entry point. And IF he had done that, why the hell would he purchase for only pocket change? In his world those kinda numbers are not even remotely worth the damage his and his company's reputation would take. The purchases are probably just on behalf of customers who insisted on getting into bitcoin.

Gozie51

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Quote from: AmXProX on October 16, 2017, 04:57:06 AM

So it was a step to have the price go low so that they can buy coins and hold them until price is high. This banking tycoons are seeing the coins potential,

"We "should have known better that making money is strategy.When you are informed and have financial power, you can manipulate the market and this is what has been done . You use money to trap money, this is why rich people keep getting rich because they have the financial strength to get to investment hugely while the low income earners can only invest minimally.

Meanwhile, everybody who bought in September should be smiling now. Is generally about foresight, to invest while the rich are also investing Grin

farmerandmore

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And after his saying, they take a lot of profit. The price of BTC increase more than people can imagine Lips sealed

AmXProX

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So it was a step to have the price go low so that they can buy coins and hold them until price is high. This banking tycoons are seeing the coins potential,

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