Topic: JP Morgan CEO Jamie Dimon Hints "If Bitcoin Gets Big, Governments will Stop it!" - page 2. (Read 3250 times)
January 21, 2016, 02:43:14 PM
What about this: If Governments get too big, we will stop them!
January 21, 2016, 02:09:11 PM
I love his reasoning. Governments like to have control of their money supply. Since when has the government had any say in what the Fed does. The guy is either dumb or playing dumb. 
January 21, 2016, 01:34:37 PM
Interesting replies here. It's because of the US banking policy, that Bitcoin was invented. It is just another thing contributing to the demise of the dollar. If the US tries to shut down Bitcoin, then it will just strengthen it. A far bigger risk is if Jamie Dimon invents a Bitcoin based scammy derivative scheme, he'll be promoting it like mad then.
The US refused to let China into the IMF, and China got fed up, and created an Asiam equivalent.
The US imposed sanctions on Russia, and they were forced to trade oil in dollars. They have now reached a number of agreements with China and others, and there is an oil quote based on Rubles now
China is a massive buyer of physical gold, the US deals in paper gold. What will happen to the dollar if China ask for delivery of some of this paper gold? You can bet that a gold based Renminbi will replace the dollar as a reserve currency.
The US refused to let China into the IMF, and China got fed up, and created an Asiam equivalent.
The US imposed sanctions on Russia, and they were forced to trade oil in dollars. They have now reached a number of agreements with China and others, and there is an oil quote based on Rubles now
China is a massive buyer of physical gold, the US deals in paper gold. What will happen to the dollar if China ask for delivery of some of this paper gold? You can bet that a gold based Renminbi will replace the dollar as a reserve currency.
There is little chance of a country returning to the gold standard, short of a political and economic upheaval that isn't even on the horizon.
Being able to electronically create credit at will is the basis of the global economic system.
I am not surprised at Dimon being dismissive of BTC. It isn't big enough yet to even merit his attention.
At 10x present market cap, he would pay attention. If it became a significant threat, he would be leading the charge for regulation or an outright ban.
Why do you think NY state requires Bitlicenses? The banks have to buy money dealing licenses to trade Euro or Ringitt for dollars, so they argue: why shouldn't someone have to buy a similar license to trade BTC?
I do think BTC will evade the grasp of the authoritarians and regulators, but there will be significant challenges if/when BTC/USD increases significantly in value.
January 21, 2016, 01:16:51 PM
Isn't this the same guy who thought bitcoin was going to fail? I am not worried one bit 
, Big banks, Corporations, Governments of foreign states have to realize that decentralization and open-sourced is the way to go whether they like it or not. 
, Big banks, Corporations, Governments of foreign states have to realize that decentralization and open-sourced is the way to go whether they like it or not. January 21, 2016, 01:14:03 PM
This guy has been living the dream for so many years that he is out of touch with reality. He thinks he can stop anything, because he has so many millions on his bank account. They will fail to kill Bitcoin, just like they failed to kill BitTorrent, otherwise why do you think BitTorrent exists? It's not because they are nice, it's because they can't do shit about it.
January 21, 2016, 12:34:12 PM
I met this hilarious guy now and he's right! His government can stop Bitcoin! Just like they stop all other bad things in earth.
If they start to scare about you, now it's time. It's Bitcoin's time to shine baby!
If they start to scare about you, now it's time. It's Bitcoin's time to shine baby!
January 21, 2016, 11:44:48 AM
What do you think guys? Will governments stop Bitcoin?
They could stop it but in order to stop it they would have to set up such insane rules that they'd cause a revolution in the process anyway. After a revolution a new government would form to actually serve the people since it would likely be built on blockchain technology - like how we see the UK already looking into this possibility.
January 21, 2016, 11:03:41 AM
do these idiots not understand that bitcoin cant be blocked, yeah you might ban it in your country but you cannot stop it. Anyone with a computer and an internet connection can run a node and if the big mining farms where shut down they could mine it also, these people never surprise me in there arrogance........
It could be blocked, if the nodes end up as centralized as mining. They could send the military into the mining facilities now, but we still have the nodes across the world, but imagine if nodes were in big buildings too! That's why it's insane to raise block size unless it's the only, only, only solution.
January 21, 2016, 10:56:07 AM
It just shows you how arrogant these people has become. I wonder if Jamie has ever thought who the governments represents? Answer : The People. Once the "Dinosaurs" of
the financial world seize to exist, Crypto currencies will replace them. He thinks the old saying, "Money is Power" is going to save them. He cannot be further from the truth.
The people has already spoken, and they not asking for private "permissioned" Blockchains or the status quo. They are asking for more transparent governments and financial
freedom.
the financial world seize to exist, Crypto currencies will replace them. He thinks the old saying, "Money is Power" is going to save them. He cannot be further from the truth.
The people has already spoken, and they not asking for private "permissioned" Blockchains or the status quo. They are asking for more transparent governments and financial
freedom.
January 21, 2016, 10:52:19 AM
Stop me? lol, silly government. 
January 21, 2016, 10:50:59 AM
You guys are taking Jamie’s statement completely out of context. When he says “governments” he obviously means “foreign governments,” not the United States government silly.
USA President Obama is a champion of the spirit of scientific discovery, and here is the historical proof:
https://www.youtube.com/watch?v=rlLSBTAg0aM#t=22m59s
The Big O2:
“How do we re-ignite that spirit of innovation to meet our biggest challenges? When the Russians sent Sputnik into space 60 years ago, did we deny its existence? Did we argue the science? No, we (the American people) built a space program overnight, and put a man on the moon in 12 years. That spirit of scientific discovery is in our DNA. America is Thomas Edison, the Wright brothers, Silicon Valley, and every entrepreneur creating a better future. That’s who we are. We protected an open internet. We nurtured that spirit. We launched online tools: Everything that gives entrepreneurs the ability to start a new business in 1 day”
Yes, that's what Obama said, and even though there is indeed internet surveillance (to protect you from bad guys), you can still access your favorite website, so, therefore, it’s true you have total internet freedom, but no privacy.
At least Americans don’t get to go to prison just because of what is posted on their Facebook pages like some people in other countries get to do.
http://www.bbc.com/news/technology-31692914
(oops, sorry I was wrong, Americans obviously do face multi-year jail sentences for Facebook posts such as complaining about their jobmoney)
But, even though Americans chose “No prison for Facebook posts (in America only)” long ago. Other people in other countries around the globe choose differently, but that does not make you Americans better than us by any stretch of the imagination. Just different.
Back to Barak:
https://www.youtube.com/watch?v=rlLSBTAg0aM#t=14m48s
“In the coming years, we will offer every student the hands-on computer science and math classes that make them job ready on day 1”
The Big O1:
"Did you ever think how square you'd look standing in an unemployment line because skewel didn't interest you."
https://www.youtube.com/watch?v=empqp-RuGaE
See that world:
Americans embrace math and science, especially computer science because they learned from studying history that jobs are found in new technologies not in old ones. Other countries that do not embrace new technologies do so because they don't like having jobs, not because they are ignorant of history. Other countries criminalize computer science jobs simply because the people there don’t want tech jobmoney. Pure and simple.
But it is OK to have the same human history, but have a different ideology about it at the same time, and Americans should not hate them simply for having different opinions. Instead, Americans should thank them for allowing Americans to have all the new computer science jobs because Americans like to make jobmoney by working at a job instead of going to jail for the things they like to do like complaining on Facebook, and playing video games for crypto prizes.
One simple and easy way to accept, with love, the deep ideological differences between criminals and Americans concerning jobmoney is to remember the old saying (I’m sure it translates across all borders):
One man’s trash is another man’s treasure. Updated to 2016 = One man’s jobmoney is another man’s jailsentence.
See, now, you are learning tolerance. Yay!
So, Barak Obama, the President of the United States of America, just proved that Jamie Dimon was referring to “most” governments, not the American government. And this is simply because Americans like to get jobs so that they can trade their money for food so that they can eat food. Other countries who like to criminalize math jobs simply do not. This is just a historical fact, that’s all. But it’s not like the humans in those other countries who criminalize math don’t like to eat. On the contrary, they love like to eat, however, they just prefer to eat different things like cardboard and gutteroil.
Not that you should disrespect us for preferring different culinary cuisine. Discrimination is a very bad thing, so remember to love us all just the same even though we simply have different tastes.
So you see, we all still can have world peace if we respect each other’s different choices.
Case in point:
When American governments talk about Crypo Computer Science jobmoney, it is only to discuss “regulation” (never criminalization). Regulation helps the American Government make more taxes per person than other governments. This is because the American Government likes to collect taxes (USA government takes a percentage of the jobmoney of its citizens), whereas governments that talk about banning jobmoney, obviously do not want to collect jobmoney taxes from their citizens (otherwise they would silly). So since, this is our choice, then you should not look down on us simply for choosing to criminalize tech jobs so we will continue to imprison our citizens for trying to learn math for jobmoney.
This is not a prediction, this is already historical fact.
The game is already over, science is legal in the USA, and in Colorado and Oregon, you are finally allowed to grow and eat plants, or sell them for jobMoney. America loves jobMoney for the taxes it brings into the trough.
TLDR/ELI5:
Jamie Dimon is not referring to Americans because Americans like to buy food with jobMoney. The people in countries that ban crypto want to go to jail for trying to eat by learning math, but don't discriminate on us, please, because we love you anyway, and just be glad for the decreased tech job competition which directly allows more fatter Americans to get fat and fattier.
I proved that Obama loves bitcoin by donating bitcoins to his political party
http://www.nytimes.com/2014/05/09/us/politics/election-commission-votes-to-allow-bitcoin-donations.html?_r=0
so now you have not a thing to worry about because if computer science jobs get banned in the USA in the same manner that bitcoins are being banned in Bolivia, then, you won't be alone in a prison cell. Your big leader will be right there with you because he accepted bitcoins for jobmoney.
...
um... but one thing I wonder if maybe if your president might like to go to prison, then maybe he won't be afraid to take you in his cell!
OH SHIT YOU'RE RIGHT !
WE'RE ALL GOING TO JAIL!!!!
whoops, sorry, homophobic knee jerk reaction... I meant to say:
and further more tell them that Otis Redding sent ya
all I want it:
https://www.youtube.com/watch?v=S6fPgx0mFGM#t=52s
but just in case, you better practice
USA President Obama is a champion of the spirit of scientific discovery, and here is the historical proof:
https://www.youtube.com/watch?v=rlLSBTAg0aM#t=22m59s
The Big O2:
“How do we re-ignite that spirit of innovation to meet our biggest challenges? When the Russians sent Sputnik into space 60 years ago, did we deny its existence? Did we argue the science? No, we (the American people) built a space program overnight, and put a man on the moon in 12 years. That spirit of scientific discovery is in our DNA. America is Thomas Edison, the Wright brothers, Silicon Valley, and every entrepreneur creating a better future. That’s who we are. We protected an open internet. We nurtured that spirit. We launched online tools: Everything that gives entrepreneurs the ability to start a new business in 1 day”
Yes, that's what Obama said, and even though there is indeed internet surveillance (to protect you from bad guys), you can still access your favorite website, so, therefore, it’s true you have total internet freedom, but no privacy.
At least Americans don’t get to go to prison just because of what is posted on their Facebook pages like some people in other countries get to do.
http://www.bbc.com/news/technology-31692914
(oops, sorry I was wrong, Americans obviously do face multi-year jail sentences for Facebook posts such as complaining about their jobmoney)
But, even though Americans chose “No prison for Facebook posts (in America only)” long ago. Other people in other countries around the globe choose differently, but that does not make you Americans better than us by any stretch of the imagination. Just different.
Back to Barak:
https://www.youtube.com/watch?v=rlLSBTAg0aM#t=14m48s
“In the coming years, we will offer every student the hands-on computer science and math classes that make them job ready on day 1”
The Big O1:
"Did you ever think how square you'd look standing in an unemployment line because skewel didn't interest you."
https://www.youtube.com/watch?v=empqp-RuGaE
See that world:
Americans embrace math and science, especially computer science because they learned from studying history that jobs are found in new technologies not in old ones. Other countries that do not embrace new technologies do so because they don't like having jobs, not because they are ignorant of history. Other countries criminalize computer science jobs simply because the people there don’t want tech jobmoney. Pure and simple.
But it is OK to have the same human history, but have a different ideology about it at the same time, and Americans should not hate them simply for having different opinions. Instead, Americans should thank them for allowing Americans to have all the new computer science jobs because Americans like to make jobmoney by working at a job instead of going to jail for the things they like to do like complaining on Facebook, and playing video games for crypto prizes.
One simple and easy way to accept, with love, the deep ideological differences between criminals and Americans concerning jobmoney is to remember the old saying (I’m sure it translates across all borders):
One man’s trash is another man’s treasure. Updated to 2016 = One man’s jobmoney is another man’s jailsentence.
See, now, you are learning tolerance. Yay!
So, Barak Obama, the President of the United States of America, just proved that Jamie Dimon was referring to “most” governments, not the American government. And this is simply because Americans like to get jobs so that they can trade their money for food so that they can eat food. Other countries who like to criminalize math jobs simply do not. This is just a historical fact, that’s all. But it’s not like the humans in those other countries who criminalize math don’t like to eat. On the contrary, they love like to eat, however, they just prefer to eat different things like cardboard and gutteroil.
Not that you should disrespect us for preferring different culinary cuisine. Discrimination is a very bad thing, so remember to love us all just the same even though we simply have different tastes.
So you see, we all still can have world peace if we respect each other’s different choices.
Case in point:
When American governments talk about Crypo Computer Science jobmoney, it is only to discuss “regulation” (never criminalization). Regulation helps the American Government make more taxes per person than other governments. This is because the American Government likes to collect taxes (USA government takes a percentage of the jobmoney of its citizens), whereas governments that talk about banning jobmoney, obviously do not want to collect jobmoney taxes from their citizens (otherwise they would silly). So since, this is our choice, then you should not look down on us simply for choosing to criminalize tech jobs so we will continue to imprison our citizens for trying to learn math for jobmoney.
This is not a prediction, this is already historical fact.
The game is already over, science is legal in the USA, and in Colorado and Oregon, you are finally allowed to grow and eat plants, or sell them for jobMoney. America loves jobMoney for the taxes it brings into the trough.
TLDR/ELI5:
Jamie Dimon is not referring to Americans because Americans like to buy food with jobMoney. The people in countries that ban crypto want to go to jail for trying to eat by learning math, but don't discriminate on us, please, because we love you anyway, and just be glad for the decreased tech job competition which directly allows more fatter Americans to get fat and fattier.
I proved that Obama loves bitcoin by donating bitcoins to his political party
http://www.nytimes.com/2014/05/09/us/politics/election-commission-votes-to-allow-bitcoin-donations.html?_r=0
so now you have not a thing to worry about because if computer science jobs get banned in the USA in the same manner that bitcoins are being banned in Bolivia, then, you won't be alone in a prison cell. Your big leader will be right there with you because he accepted bitcoins for jobmoney.
...
um... but one thing I wonder if maybe if your president might like to go to prison, then maybe he won't be afraid to take you in his cell!
OH SHIT YOU'RE RIGHT !
WE'RE ALL GOING TO JAIL!!!!
whoops, sorry, homophobic knee jerk reaction... I meant to say:
and further more tell them that Otis Redding sent ya
all I want it:
https://www.youtube.com/watch?v=S6fPgx0mFGM#t=52s
but just in case, you better practice
January 21, 2016, 10:40:01 AM
Just like they closed Guantanamo !!!!!
All powerful governments are a joke.
All powerful governments are a joke.
except the jokes on us... both parties repeat the same "promises", deliver nothing, and constantly shift the blame to a new "problem"
January 21, 2016, 10:34:59 AM
Just like they closed Guantanamo !!!!!
All powerful governments are a joke.
All powerful governments are a joke.
legendary
Activity: 1302
Merit: 1004
Core dev leaves me neg feedback #abuse #political
January 21, 2016, 10:14:28 AM
These are simple questions but the BTC media ignores them. Why?
What about this:
The Governments have NO RIGHT, let me repeat: NO RIGHT, to interfere with Bitcoin.
ha! When did 'rights' ever stop Governments?
January 21, 2016, 09:16:40 AM
These are simple questions but the BTC media ignores them. Why?
What about this:
The Governments have NO RIGHT, let me repeat: NO RIGHT, to interfere with Bitcoin.
January 21, 2016, 08:39:11 AM
WHALE @ 4 O`CLOCK (PST)!
January 21, 2016, 08:04:04 AM
As long as it can be exchanged for cash or goods somewhere it will work.
For example lets assume it is banned in the US but remains legal everywhere else. You'd simply see people sending it to someone in Europe who would pay them in usd through paypal or some such. Sure, maybe paypal will crack down on it but as weve seen with every other form of money laundering or fraud, where there is money to be made people will find a way. Moreover, with something as anonymous and easy to send as bitcoin (compared to say drugs, illegal physical items or fraudulently obtained bank or creditcard funds) it would be exceptionally difficult for someone like paypal and law enforcement to to detect and crack down on the practice.
For a ban to work you'd need to make it illegal almost everywhere immediately. Otherwise you'll just have people operating a system such as the one above, which would dramatically -increase- the price due to the lack of supply caused by the closing of US exchanges and the ability of bag holders to name their price.
For example lets assume it is banned in the US but remains legal everywhere else. You'd simply see people sending it to someone in Europe who would pay them in usd through paypal or some such. Sure, maybe paypal will crack down on it but as weve seen with every other form of money laundering or fraud, where there is money to be made people will find a way. Moreover, with something as anonymous and easy to send as bitcoin (compared to say drugs, illegal physical items or fraudulently obtained bank or creditcard funds) it would be exceptionally difficult for someone like paypal and law enforcement to to detect and crack down on the practice.
For a ban to work you'd need to make it illegal almost everywhere immediately. Otherwise you'll just have people operating a system such as the one above, which would dramatically -increase- the price due to the lack of supply caused by the closing of US exchanges and the ability of bag holders to name their price.
many people like you does not understand a simple fact.
The Govs do not need to ban Bitcoin. The exchangers can be put in jail in the most of their own countries because they do not have financial license. You need a financial license to operate e-currency in all the countries( US, Europe, Asia, Australia as well). Most of the exchangers are out of law.
How many of them have a financial license? Maybe 3-4. So, if a GOV wants to "shut down" Bitcoin, they have to raid the exchangers and...done.
It's funny how the BTC media is trying to buzz about Bitcoin and exchangers but they don't say:
"OKcoin does not have financial license" or "Kraken is operating illegally in USA" or "how are BTC China/Lake BTC operating in China when the chinesse gov banned all the financial institutions to deal with exchangers?" or "Bitstamp is without financial license but they do operate in EU and USA..
It's well known that USA requires license if you want to deal with US citizens even the company is not based in USA.
We hear about a lot of money invested in these firms but we do not hear about REAL compliance which means financial license.
These are simple questions but the BTC media ignores them. Why?
January 21, 2016, 05:51:52 AM
As long as it can be exchanged for cash or goods somewhere it will work.
For example lets assume it is banned in the US but remains legal everywhere else. You'd simply see people sending it to someone in Europe who would pay them in usd through paypal or some such. Sure, maybe paypal will crack down on it but as weve seen with every other form of money laundering or fraud, where there is money to be made people will find a way. Moreover, with something as anonymous and easy to send as bitcoin (compared to say drugs, illegal physical items or fraudulently obtained bank or creditcard funds) it would be exceptionally difficult for someone like paypal and law enforcement to to detect and crack down on the practice.
For a ban to work you'd need to make it illegal almost everywhere immediately. Otherwise you'll just have people operating a system such as the one above, which would dramatically -increase- the price due to the lack of supply caused by the closing of US exchanges and the ability of bag holders to name their price.
For example lets assume it is banned in the US but remains legal everywhere else. You'd simply see people sending it to someone in Europe who would pay them in usd through paypal or some such. Sure, maybe paypal will crack down on it but as weve seen with every other form of money laundering or fraud, where there is money to be made people will find a way. Moreover, with something as anonymous and easy to send as bitcoin (compared to say drugs, illegal physical items or fraudulently obtained bank or creditcard funds) it would be exceptionally difficult for someone like paypal and law enforcement to to detect and crack down on the practice.
For a ban to work you'd need to make it illegal almost everywhere immediately. Otherwise you'll just have people operating a system such as the one above, which would dramatically -increase- the price due to the lack of supply caused by the closing of US exchanges and the ability of bag holders to name their price.
January 21, 2016, 04:47:51 AM
Interesting replies here. It's because of the US banking policy, that Bitcoin was invented. It is just another thing contributing to the demise of the dollar. If the US tries to shut down Bitcoin, then it will just strengthen it. A far bigger risk is if Jamie Dimon invents a Bitcoin based scammy derivative scheme, he'll be promoting it like mad then.
The US refused to let China into the IMF, and China got fed up, and created an Asiam equivalent.
The US imposed sanctions on Russia, and they were forced to trade oil in dollars. They have now reached a number of agreements with China and others, and there is an oil quote based on Rubles now
China is a massive buyer of physical gold, the US deals in paper gold. What will happen to the dollar if China ask for delivery of some of this paper gold? You can bet that a gold based Renminbi will replace the dollar as a reserve currency.
The US refused to let China into the IMF, and China got fed up, and created an Asiam equivalent.
The US imposed sanctions on Russia, and they were forced to trade oil in dollars. They have now reached a number of agreements with China and others, and there is an oil quote based on Rubles now
China is a massive buyer of physical gold, the US deals in paper gold. What will happen to the dollar if China ask for delivery of some of this paper gold? You can bet that a gold based Renminbi will replace the dollar as a reserve currency.
January 21, 2016, 04:23:50 AM
What do you think guys? Will governments stop Bitcoin?
Most they can do is to make it underground, but I wouldn't say that necessarily means price will drop because, remember, technically Bitcoin may be the the asset with best properties of all assets out there...
Jump to: