Topic: JP Morgan completely changes its stance on bitcoin - page 3. (Read 668 times)

Yeah, I also opened this thread to give a chance to the implausible idea that JP Morgan suddenly stopped only caring about itself and actually recognized Bitcoin. I am disappointed now, because nothing new happened. The article is indeed not names in the right way, because being 'bullish' about their own pseudo-coin they might want to call crypto is not the same as truly admiring the top cryptocurrencies. The name of the thread is even more misleading, since there's nothing about Bitcoin in the article at all.
So, to conclude: JP Morgan is still being a rich dick that wants to gain as much profit as possible and kill any attempts of participating in a free unregulated market.

On this JP Morgan issue, I have not really taken any stance yet. I am still observing JP Morgan and the decisions they make. In the world today everyone is after what will benefit them and sometimes have to critisize others just to have what they support rise. JP Morgan is just after what will profit them and since Bitcoin has refused to phase out despite all the negative news thrown at it, they decided to join the crypto world but then let's see how things will play in the future.

If the bank can't defeat or silence anything that threatens its existence, they will have to find a way around it and buy into the idea. This is to guarantee their business continuity and of course more profit making. Make no mistake, they don't mean well for their customers, just permanent interest.

The large populations of china will surely create a big impact to this industry, there's no question about that and moving back to what OP's statement, there's still no clear stand coming from JP even they are launching their own coin, there's still clarifications that we needed to see or hear from them,
we still need to assess and observed the next actions that they will take.

They didn't change their stance on bitcoin or the rest of the crypto.

What they did is have their own token, (I wouldn't call it a crypto), and take advantage of blockchain technology. Also, you have to understand that this is a private token and for their own personal used only. So there's nothing to celebrate with those news.

Who gives a fuck a bought JP morgan's moves anyway?

They decided to go down a dark park talked ill about BTC and cryptos last time round and now they are coming up with their own coin?
Well fuck them, Let them die with their garbage coin. We shouldn't even give them any sort of attention or something.

No. Their 'coin' is not a cryptocurrency. It's a dollar token that uses elements of cryptocurrency's technology to operate.

It has the exact same issues as the dollar itself with plenty of its own on top as an extra enticement. And it doesn't look like it'll be available to anyone other than the banks themselves for their internal operations.

The fact that they are releasing their own crytpocurrency means that they are bullush on crypto don't you think?

As far as JP Morgan changing its stance, do you recall this statement?

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he would fire any employee trading bitcoin for being “stupid.”

A U-turn if ever I saw one.

https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin

JP Morgan still sits by there stand against Bitcoin but not with the technology behind it, well I guess they putting the technology so that their reach can spread from the different part of the world.

Of course, if China participates in the game, it will be good for the price of the market, but you should not expect too much into China. If you have no faith in bitcoin , the potential of blockchain, but just waiting for salvation from Chinese , you should stop playing.

More like pragmatism. True money making people will have to sooner or later understand that the genie is out of the bottle, and the time has come for them to revise their business.

From time to time a technology comes that renders whole sectors of industry obsolete, and refusing to see whats in front of them just because their traditional business gave them profits for a century, doesn't mean they woun't be forced to change, they will, and so will the banks, which will shrink and or morph.

Perhaps sooner than later even banks will start thinking about a 100% reserve banking, exactly like the Austrian economists wished.

In such a bank: You would normally have to pay fees to keep your money stored (could be a single fee for each deposit/withdraw, like you see today with exchanges. That is unless you voluntarily lend your money, for a given period of time. During this period your money will be unavailable. Again, a few exchanges already do this.

So i maintain my posture that crypto exchanges and banks will come to fuse together, and they will bridge the transition from fiat to crypto for how many decades humanity may require. Those not doing so will be cast aside by progress, as many older but formerly lucrative business did.

The rest of the financing sector is more or less in the same situation, the world history has changed after Bitcoin.

Your topic and what it contains is a little different. You mean JP Morgan going back from not supporting bitcoin or supporting with there coin...


I rather would expect a major bull if China declares publicly, there turning around to endorse bitcoin. Chinese would immediately buy in and we know they have large population. This will bring increase demand.

I don't get it? Where's the "Bullish on Crypto" part on the article's title? Because I really can't see it. It's just a clickbait title if anything.

Also, your topic title states: "Re: JP Morgan completely changes its stance on bitcoin". But they didn't though?

I don't think they are fully endorsing cryptocurrencies immediately after releasing a press statement regarding their plans on the launch of their own coin. I'm still skeptical about JP Morgan's position in the cryptosphere as they--or should I say their CEO--are still on a badmouthing spree concerning bitcoin and crypto in general. For now, let them launch their own coin first and see whether after positive public perception, they will get their heads turned around for real for the first time, but I highly doubt that.

Its funny how after releasing their own JPM coin JP Morgan have done a complete u-turn and are now endorsing cryptos (providing you still use a normal bank sevice of course). When JP Morgan slated bitcoin last year there was a sudden price drop. Even though they were caught buying bitcoin on the dip for their clients the facade was allowed to continue. Pretending to rubbish publicly something whilst secretly working on it is the oldest trick in the book and its sad that so many people still take taken in by this game. I suspect that any day China is going to declare its support for crypto and lift its ban even though we all know its working on blockchain projects in the background. It just means we have to wait longer for the price to go up I guess.

Here is the JP Morgan article
https://www.newsbtc.com/2019/03/20/jpmorgan-executives-flip-bullish-on-crypto-after-jpm-coin-release/