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.

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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.

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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,

intrader

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Quote from: Granxis on September 17, 2017, 09:18:13 PM

Each price falls during the decline, after the price decline, this kind of rumor is happening, but I think it does not reflect the truth, JP Morgan just said his opinion, and therefore a lot of people hurt, but everyone can say own opinion.

He said his shit opinion for his own interest

maydna

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i think weak hands will be panic again, i see the price is down again. i think bitcoin is too easy to be played by some bad people, they only have makes bad news and spread in many places especially in big websites, everybody read the news and they think that the price will jump down and makes them panic. actually this makes small traders and new people got panic because they see that the price is not going anywhere after the bad news is out. and yes big whales is making a lot of money out there and we are only hold tight while the price is up and down too fast.

cryptocrusher

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I don't think that JP Morgan would intentionally crash the market and only invest 500k. If they were to plan such an event they would be investing hundreds of millions. 500k is nothing to them.

Savik

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Quote from: Pab on September 21, 2017, 07:55:29 PM

Bitcoin didnt crash after Dimon statment and JP is not buying btc however wall street traders make huge money on crypto market after houres

Exactly, these traders are the types who will jump into crypto and make millions developing sophisticated trading algorithms and bots.

BenOnceAgain

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Well well well... looks like European regulators are looking into possible market manipulation: http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments

This is a good quote from the story:

Quote

"Jamie Dimon's public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system,” said Florian Schweitzer, managing partner at Blockswater.

Pab

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Bitcoin didnt crash after Dimon statment and JP is not buying btc however wall street traders make huge money on crypto market after houres

DuaLipa

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Nothing surprised me here with this news, companies like them always make negative news on the market and then buy from the dip. Then they maximize their profits. Good method frankly.

_Dawid_

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Guys, It doesn't work this way...
JP Morgan is just a brand which allows common(rich players) trade on the Sweden Stock Exchange.So CEO of the JP Morgan could be related to that operations, but for sure these operations are made by traders who use JP Morgan as entry. Maybe they did what he said, no one knows.

Hydrogen

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I don't mind what Jamie Dimon did.

Yes, they manipulate the market to decrease the price.

But they also manipulate the market to raise prices higher.

The main concern is whether Jamie Dimon and the chinese announcement coincided to put pressure on bitcoin devs in order to force them to accept bizarre conditions of the november fork such as the lack of replay.

Future fork conditions are a bigger threat than market manipulation, in my opinion.

player514

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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.

I saw this and isn't it possible that one of their clients wanted to put money into bitcoin? Are we sure that JP Morgan themselves put this buy order or do we know if this was for some customer who potentially had a lot of money to dump into BTC?

I think it's also a tactic that the CEO used to get the BTC price lower to buy.

posternat

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It seems like they are doing something to try to break a consistent value to the price of a commodity. Since Bitcoin is considered a commodity, there needs to actually be a reason for its value besides the sheer fact of what someone is willing to pay for it. The trying to bring it into the markets that there's no comparison value and at least there's some sort of foundation under that value. This is a nice move to again stabilize the higher price of bitcoins.

intrader

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Looking at his face also can tell actually he is a big scammer.
He can do whatever he like for remaining days

rjbtc2017

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Quote from: zikabra on September 17, 2017, 01:52:23 PM

What else to expect?
They spread FUD in just right time(china) and shake the market, price dropped and only logical thing to do is to buy more bitcoins. Now, new news has been launched(OP) and people will start to buy bitcoins again instead of dumping them and price will go up. Who earned money? JP Morgan...

Exactly! That's why i'm enraged with this news, he is so smart on manipulating and he can do that anytime he wanted to and with this kind of process i will now predict that a lot of big companies will do the same for their own benefit! which is not good!. Very very unfair.

Granxis

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Each price falls during the decline, after the price decline, this kind of rumor is happening, but I think it does not reflect the truth, JP Morgan just said his opinion, and therefore a lot of people hurt, but everyone can say own opinion.

entrepmind23

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Quote from: Jake052478 on September 17, 2017, 08:07:51 PM

What JP Morgan did is so unfair to small Bitcoins player in the market. What they did is to make Bitcoins look so vulnerable so that the price will drop down and afterwards grab the opportunity when bitcoins prices went low so that they can buy at low prices and when the prices went up.... they will probably gain a lot of it... tsk tsk tsk.... so bad....

That is their strategy to make the bitcoin price lower. China started it and they saw it as an opportunity to make it more low and since they knew that bitcoin price is so volatile and market sentiment affect the bitcoin price that much, they started attacking it again and they saw the effect of it. When they see that it's already lower so they started buying and the people knew it.

I hope it would be a lesson to the people who would immediately panic sell when there are news like this, many sold below $3k below thinking that bitcoin would not go back up again while others saw it as an opportunity to add more to their position. As for me, I just hold my coin and didn't budge even if the price go down because seeing that it is still higher than the price I bought my bitcoin, I am still in profit.

Jake052478

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What JP Morgan did is so unfair to small Bitcoins player in the market. What they did is to make Bitcoins look so vulnerable so that the price will drop down and afterwards grab the opportunity when bitcoins prices went low so that they can buy at low prices and when the prices went up.... they will probably gain a lot of it... tsk tsk tsk.... so bad....

Aventhe

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Well, JP is just always full of BS. They manipulate the whole market however they want.

However, I do not think that bitcoin crashed because of JP's statement, calling bitcoin a fraud. It was most likely a result of China's ICO ban, which is what I hear set out to be 'temporary'. I certainly hope that that will be resolved sooner than later and things can get back to 'normal'.

Ligareaux

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Speculation is now the first tool biggers can use to move markets, it's only a matter of time, so cryptocurrences are strong enough not to be affected by this kind of disinformation ...

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Quote from: Lmaooo on September 17, 2017, 06:10:07 PM

JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper. Cool

The market didn't crash because of JP Morgan, it crashed because of China. I'd be surprised if JP Morgan knew China was going to close the exchanges - they have good connections, but even they don't have connections in the PBOC.

Yakamoto

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Quote from: Lmaooo on September 17, 2017, 06:10:07 PM

JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper. Cool

It makes sense though, as for why'd they do that, as I have said in another post they're capitalizing on the timing and trying to buy whatever they can so they can make money off of the market. They've seen the trends, they have to believe that they're (the market) going to do it again, so they see a great money-making opportunity. I don't know if I can even be mad at them about this. It also gave us a correction that was sorely needed. Glad that we got that, but it was probably too extreme.

Lmaooo

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JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper. Cool

intrader

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Quote from: zikabra on September 17, 2017, 01:52:23 PM

What else to expect?
They spread FUD in just right time(china) and shake the market, price dropped and only logical thing to do is to buy more bitcoins. Now, new news has been launched(OP) and people will start to buy bitcoins again instead of dumping them and price will go up. Who earned money? JP Morgan...

People will never learnt from lesson next time he will say bitcoin is bubble again and buy another cheap btc

zikabra

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What else to expect?
They spread FUD in just right time(china) and shake the market, price dropped and only logical thing to do is to buy more bitcoins. Now, new news has been launched(OP) and people will start to buy bitcoins again instead of dumping them and price will go up. Who earned money? JP Morgan...

intrader

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Quote from: pereira4 on September 17, 2017, 11:54:50 AM

Quote from: Betwrong on September 17, 2017, 10:34:20 AM

Quote from: intrader on September 17, 2017, 04:28:35 AM

Quote from: Nerman on September 17, 2017, 03:22:40 AM

Since they have money and they are very influecial many people will listen to them and they know that the price will dip.Most likely they intentionally announce that to have an entry point to invest. Sneaky sneaky sneaky.

They can’t build they happiness on someone else’s pain, Karma will get their.

I agree. Some say it was a smart move on their part, but I don't think taking advantage of people's trustingness will bring one anything good. They knew well that people would listen to what they are saying and they were right, people indeed started panic selling after JPMorgan CEO Jamie Dimon called bitcoin a "fraud". I'm sure some people lost money because of that and that's JPMorgan's fault.

One would at least hope that people that panic sold in the hands of Jp Morgan and China's ban would learn as JP Morgan has bought the dip heavily, but don't never underestimate how stupid people are. They see in front of their eyes that they got scammed by Jamie Dimon, and im sure that the next time Jamie Dimon goes on national TV to say how BTC is a scam, people will dump again because people are drones. It will take a lot of times until the common folk realize that they are getting their BTC scammed from the same people that are calling it a fraud, but meanwhile they will get intimidated by them and will continue selling, until then, let's rise again to new heights to prove them wrong.

JPM scammer pretty sure will using this trick again for next tv show, I feel like to throw shit on his face for this culprit

pereira4

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Quote from: Betwrong on September 17, 2017, 10:34:20 AM

Quote from: intrader on September 17, 2017, 04:28:35 AM

Quote from: Nerman on September 17, 2017, 03:22:40 AM

Since they have money and they are very influecial many people will listen to them and they know that the price will dip.Most likely they intentionally announce that to have an entry point to invest. Sneaky sneaky sneaky.

They can’t build they happiness on someone else’s pain, Karma will get their.

I agree. Some say it was a smart move on their part, but I don't think taking advantage of people's trustingness will bring one anything good. They knew well that people would listen to what they are saying and they were right, people indeed started panic selling after JPMorgan CEO Jamie Dimon called bitcoin a "fraud". I'm sure some people lost money because of that and that's JPMorgan's fault.

One would at least hope that people that panic sold in the hands of Jp Morgan and China's ban would learn as JP Morgan has bought the dip heavily, but don't never underestimate how stupid people are. They see in front of their eyes that they got scammed by Jamie Dimon, and im sure that the next time Jamie Dimon goes on national TV to say how BTC is a scam, people will dump again because people are drones. It will take a lot of times until the common folk realize that they are getting their BTC scammed from the same people that are calling it a fraud, but meanwhile they will get intimidated by them and will continue selling, until then, let's rise again to new heights to prove them wrong.

EdenHazard

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Quote from: ecnalubma on September 16, 2017, 09:09:25 AM

Thats how they make money from creating massive panic. For sure some dumpers and amatuers will learn a lesson from that, but for those veterans its just the same old game.

I see that coming, these giants are still using old and seasoned tricks just to flip the market. They're using criticism to make large chunk of profits.

yes it is just an old way to get a dirty money from a dirty mind game.

but i think still people feel insecure with chinese exchanges get forced closure by the government , and considering most bitcoin miner are come from china , the bitcoin mining activity could be slower than usual , and bitcoin holder there in fluster to secure their asset. the choice are to sell them all and the market will remain get dumped.

Betwrong

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Quote from: intrader on September 17, 2017, 04:28:35 AM

Quote from: Nerman on September 17, 2017, 03:22:40 AM

Since they have money and they are very influecial many people will listen to them and they know that the price will dip.Most likely they intentionally announce that to have an entry point to invest. Sneaky sneaky sneaky.

They can’t build they happiness on someone else’s pain, Karma will get their.

I agree. Some say it was a smart move on their part, but I don't think taking advantage of people's trustingness will bring one anything good. They knew well that people would listen to what they are saying and they were right, people indeed started panic selling after JPMorgan CEO Jamie Dimon called bitcoin a "fraud". I'm sure some people lost money because of that and that's JPMorgan's fault.

intrader

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Quote from: Xester on September 17, 2017, 10:05:20 AM

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.

I knew it. These people are all bunch of greedy. Considering their wealth they know how to play the price of bitcoin. It is their tactic to buy more bitcoin because of its current price. Many who are knew to bitcoin panicked and sold their bitcoins which is the main reason why Dimon do it. And he succeed. Thankfully I got wiser now.

I just wonder whether next time people will fall to his trick again or not

Xester

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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.

I knew it. These people are all bunch of greedy. Considering their wealth they know how to play the price of bitcoin. It is their tactic to buy more bitcoin because of its current price. Many who are knew to bitcoin panicked and sold their bitcoins which is the main reason why Dimon do it. And he succeed. Thankfully I got wiser now.

rjbtc2017

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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.

He is really a manipulative jerk. Same with those mainstream media who continously putting bitcoin as a bad thing and painting bitcoin a bad color.
Weak hands do not deserve bitcoin and with these big people knows that bitcoin is a big thing. It is really funny and at the same time it is also disappointing yet amusing. He is manipulative smart. He is a businessman we shouldn't be shocked if he will do this again.

batang_bitcoin

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I've been seeing this news all around the forum and this is the popular thing in the bitcoin world today. Dimon is a real marketer and strategist, he knows how to play in the market and make a good amount out of his mouth. He knows how to play with supply and demand and by saying that bitcoin is a fraud, it's planned and he knows many will panic when it came out on the mainstream news.

olushakes

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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.

If that is the case, then the people who make the whales to continue to be relevant, have been successful once again and they need to be commended to have made another win. I don't blame him but the ones that made his FUD possible and not only the panic sellers but also the bloggers, the Ops, the news site, tweeters and retweeters that makes his comment so popular that could cause panic all over the globe because without them, then nothing of such could have happened.

MadMac

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This guy probably soon retires, before the Dollar completely crashes and he likely will end up in jail. One last stunt.

BitcoinNational

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Join The Blockchain Revolution In Logistics

He did it on purpose, he knew that he was about raising fear, accordingly price decreased and so easy for him to buy with an interesting price.
It's just a question of strategy

intrader

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Quote from: Nerman on September 17, 2017, 03:22:40 AM

Since they have money and they are very influecial many people will listen to them and they know that the price will dip.Most likely they intentionally announce that to have an entry point to invest. Sneaky sneaky sneaky.

They can’t build they happiness on someone else’s pain, Karma will get their.

MadMac

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Maybe after all it will be a good thing. Banks now actively go into Coins, meaning the acceptance will widely increase and it becomes something else than money for murderers and drug dealers.

Nerman

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Since they have money and they are very influecial many people will listen to them and they know that the price will dip.Most likely they intentionally announce that to have an entry point to invest. Sneaky sneaky sneaky.

intrader

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Quote from: MadMac on September 17, 2017, 02:29:45 AM

JP Morgan is a fraud, so they just made sure that Bitcoin is compatible

Actually he is a big scammer,but people will forget and fall to his trick again in the future,he will make statement again stay tunned

MadMac

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JP Morgan is a fraud, so they just made sure that Bitcoin is compatible

intrader

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Everytime I saw his face on internet I feel like to throw shit to his face

masterwakokok7

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Well, that's how a businessman's mind works. Dimon targeted the emotional imbalances of the investors stating that this industry is fraud. What Dimon did was an emotional blackmail, instead of holding onto their coins they were forced to believe in something that this industry will fall and the result is as expected. A lot of investors sold their coins to contribute to the downfall of the price of Bitcoin in the market. JP Morgan uses that as an advantage to buy coins for themselves. I will not be shocked if Dimon suddenly reverses his statement towards Bitcoin. That's how manipulative a man and his company can be.

Pearls Before Swine

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I get it; this is what they all do, and they're all market manipulators. In the
case of cryptocurrency I think this is still legal for JP Morgan to do. If this was
the stock market it would be blatantly illegal, because stocks are securities
and are regulated by the SEC. So they can use the media to their advantage
with their opinions (which carry great weight) and can trade off that. It's
insane to me, but for now that's the way it is.

feelmuhtoy

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That is mr.dimon's demonic act on how to manipulate bitcoin price

yugyug

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that's the big advantage if you have the power, influential and famous and most of all the boss of one of the biggest financial institution in the US, you can easily distort the fact by using media and manipulate the market in order to gain the favorable and desirable position, so when everyone got panic and staying out of their position selling their shares thinking that it will crash sooner, then Mr. Dimon buys BTC at cheaper price - he has his last laugh.

Jake052478

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I will do wonder for YOU!!!

it is business strategy then.. they wanted to shake the bitcoins prices so that they can buy more then sell it afterwards at a higher price.... so... you see.... this is what big players do to gain big... tsk tsk....

Carlsen

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This all looks a little bit strange to me.
A CEO playing with the reputation of his whole company just to get a few cheap bitcoins? That is very far fetched if you ask me.
I think I have read somewhere that 'jp morgan securities ltd' changed their name to 'jp morgan securities plc' back in 2012.
Why would they buy under the old name bitcoins?

SvenBomvolen

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That is clear now that JPMorgan's general director Dimon is just the biggest speculator of bitcoin prices. Obviously that it was his target to announce in his interview to Bloomberg that bitcoin is only for stupid. He just moved the price to go even more down and in the result they bought bitcoins by very good prices. Smart strategy.

GreenBits

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Quote from: mast3rm1nd on September 16, 2017, 10:03:12 AM

I wouldn't put it past the banking bastards to do something like this. but if every time a CEO says some crap like that, the community falls into their hands; it doesn't look good for the bitcoin community.

i wouldnt either, and this should be illegal, as it would be if they did this to a registered security. with that being said, his opinions really matter for naught; and to listen to his actual full comments on the matter, it sounded like he had butthurt because his daughter invested and he didnt. . i was looking to confirm this story, it popped up on my linkedin feed when I first woke up. this still doesnt confirm it, per se, but it does lend credence.

but seriously, they really have to do something legally about the FUD, it literally drives the price. Fud, and uncurbed enthusiasm are the basis of our price Wink

tyuner4

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Quote from: Lmaooo on September 16, 2017, 10:26:27 AM

Quote from: thoham on September 16, 2017, 10:16:35 AM

Haha Jamie Dimon made easiest profit in his life. Easiest 30% investment in a week and all people who trusted JD are now fucked up. Haha

The easiest 30% discount, indeed! The big whales always wins! Newbies always got panic to fake FUDs and loose their profits in return! Cool

Yes absolutely, the worst thing to do is to trust a banker.

Qiuyue201

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Quote from: TryNinja on September 16, 2017, 09:51:34 AM

As other people already pointed out in other threads, this doesn't necessarily mean that JP Morgan is buying Bitcoin for themselves:

"This is Nasdaq OMX in Stockholm. JPM (as a broker) probably bought this Bitcoin fund on behalf of it's clients. Once something is listed on an exchange it's not very common for brokerages to discriminate what you can and cannot buy." - /u/TheDJFC

"That could be for clients through brokerage services. Not necessarily buying for corporate holdings. Big difference and misconception." - /u/ent4rent

"This is the list of brokers. Anybody whose ever traded knows what this screen is. Brokers are buying for clients, the purchases are their,s not the brokers." - /u/BTCrob

https://www.reddit.com/r/Bitcoin/comments/70e63z/dimon_called_bitcoin_a_fraud_and_told_he_would/
https://www.reddit.com/r/btc/comments/70e101/ceo_jamie_dimon_also_said_hed_fire_in_a_second/

Is that means they are buying the bitcoin to the clients and that was not related to the companies? Because a lot of people are misunderstanding with it. But i just try to find the truth about that.
Some people believing in a and others in b.

Lmaooo

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santacoin.io

Quote from: thoham on September 16, 2017, 10:16:35 AM

Haha Jamie Dimon made easiest profit in his life. Easiest 30% investment in a week and all people who trusted JD are now fucked up. Haha

The easiest 30% discount, indeed! The big whales always wins! Newbies always got panic to fake FUDs and loose their profits in return! Cool

thoham

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Haha Jamie Dimon made easiest profit in his life. Easiest 30% investment in a week and all people who trusted JD are now fucked up. Haha

mast3rm1nd

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I wouldn't put it past the banking bastards to do something like this. but if every time a CEO says some crap like that, the community falls into their hands; it doesn't look good for the bitcoin community.

BillyBobZorton

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Quote from: BrewMaster on September 16, 2017, 09:19:32 AM

there has been a couple of confusing explanation about what really JPMorgan is doing regarding that picture but even if those explanations regarding this are true, that doesn't change anything!

even before this proof came to light, i had my suspicious that they must have been heavily involved with bitcoin and must have plans to make some profit from the ongoing situation.

otherwise there was absolutely no reason for him to talk about bitcoin being fraud out of nowhere there must have been some benefit in it for them.

It doesn't in fact change anything. The bottom line is, Jamie Dimon said that anyone trading Bitcoin is an idiot and should be fired from his company, yet HIS OWN COMPANY IS BUYING BITCOIN!!!!

I mean it doesn't take rocket science what's going on in here. CEO says something, then his company does the opposite. Someone is lying, or they are all together in this buying cheap BTC from the idiots that always sell on FUD. Pick one.

TryNinja

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As other people already pointed out in other threads, this doesn't necessarily mean that JP Morgan is buying Bitcoin for themselves:

"This is Nasdaq OMX in Stockholm. JPM (as a broker) probably bought this Bitcoin fund on behalf of it's clients. Once something is listed on an exchange it's not very common for brokerages to discriminate what you can and cannot buy." - /u/TheDJFC

"That could be for clients through brokerage services. Not necessarily buying for corporate holdings. Big difference and misconception." - /u/ent4rent

"This is the list of brokers. Anybody whose ever traded knows what this screen is. Brokers are buying for clients, the purchases are their,s not the brokers." - /u/BTCrob

https://www.reddit.com/r/Bitcoin/comments/70e63z/dimon_called_bitcoin_a_fraud_and_told_he_would/
https://www.reddit.com/r/btc/comments/70e101/ceo_jamie_dimon_also_said_hed_fire_in_a_second/

btcdevil

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JPMorgan Dimon statement was to create panic as he knows that if he comment anything that will move the market and same the market reacted it. But it is the weakness of the weak hand traders who sell their coins on this type of fake news.

MadMac

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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.

azguard

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Yea they said that bitcoin is fraud, but what is this now they are now "so called murderers, drug lord and people of north Korea" if i recall the article correctly, or it was south.
What do they think they are with some false news and now when thing are backed to normal now what. They didnt do anything with bitcoin, hardly.

BrewMaster

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There is trouble abrewing

there has been a couple of confusing explanation about what really JPMorgan is doing regarding that picture but even if those explanations regarding this are true, that doesn't change anything!

even before this proof came to light, i had my suspicious that they must have been heavily involved with bitcoin and must have plans to make some profit from the ongoing situation.

otherwise there was absolutely no reason for him to talk about bitcoin being fraud out of nowhere there must have been some benefit in it for them.

boyptc

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★Bitvest.io★ Play Plinko or Invest!

It's now popular in the forum and the same thread here https://bitcointalksearch.org/topic/m.21894881

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

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.

Very funny indeed, he puts his reputation and said everything he can just to give a fearful entry point for the upcoming investors as if he wants to get some more at good entry point.

MadMac

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He openly lied. If you would do this with any stock exchanged company he would probably go to jail.

ecnalubma

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www.Artemis.co

Thats how they make money from creating massive panic. For sure some dumpers and amatuers will learn a lesson from that, but for those veterans its just the same old game.

I see that coming, these giants are still using old and seasoned tricks just to flip the market. They're using criticism to make large chunk of profits.

MadMac

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Jamie is probably full of things that make his life easier, but not necessarily a sound brain working.

neurotypical

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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.

Topic: JP Morgan buys Bitcoin (after Dimon crashed the market) (Read 2619 times)