JPMorgan’s CEO claimed Bitcoin it is a fraud

Ewinsane

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Quote from: South Park on September 28, 2017, 01:41:40 PM

Quote from: voronint11 on September 28, 2017, 07:32:48 AM

I think that when a sales trader in investment bank front runs his clients orders, or sells junk bonds with lucrative yields, that is a fraud...

True but the problem is that kind of fraud is allowed and people no longer even see it as fraud, just look at the interest rates, people think of high interest rates as usury, but in the past any interest rates you were asked to pay was usury and it was illegal but now people are so used to being robbed that way they no longer see that as a crime.

Everybody has his own point of view. If bitcoin is a fraud then all the other digital currencies would also be fraud including ripple which is widely being used by banks. He is a banker and his fear is being reflected in his statement.

There are rumors about JP Morgan holding on some bitcoins also. If China has failed to destroy bitcoins, then Jamie is actually negligible.

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Quote from: voronint11 on September 28, 2017, 07:32:48 AM

I think that when a sales trader in investment bank front runs his clients orders, or sells junk bonds with lucrative yields, that is a fraud...

True but the problem is that kind of fraud is allowed and people no longer even see it as fraud, just look at the interest rates, people think of high interest rates as usury, but in the past any interest rates you were asked to pay was usury and it was illegal but now people are so used to being robbed that way they no longer see that as a crime.

voronint11

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I think that when a sales trader in investment bank front runs his clients orders, or sells junk bonds with lucrative yields, that is a fraud...

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Tom Lee, former JPMorgan Chase Manager Director, said to take the opposite site of Dimon..."strongly".

South Park

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Quote from: Tyrantt on September 26, 2017, 01:28:24 PM

Quote from: South Park on September 26, 2017, 01:11:12 PM

Quote from: Melquart on September 22, 2017, 05:11:15 PM

And the former JPMorgan’s CEO is a strong Bitcoin supporter. Bankers are just scammers searching their own profit.

This is why I think bitcoin may succeed in replacing banks while in theory banks and bitcoin are enemies the guys managing the banks are going to see a way to make profit with bitcoin and are going to adopt it then they are going to realize too late they sacrificed long term profits for short term profits.

I seriously doubt that bankers would allow that to happen so easily, they're prob just benefiting from this situation but I highly doubt that they wouldn't go all out if they see that the bitcoin is threatening their businesses. Because I think we all know that big banks aren't just like any other business out there.

Of course they are going to go all out against bitcoin but the issue is that they are not going to do that until it is too late, right now they see bitcoin as a thing that only nerds do, but wasn’t that the way people thought about video games in the past? So I think they are going to make the mistake of underestimating bitcoin.

ccowl

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JPMorgan is actually deep into crypto and these statements are just for money making. They have a blockchain technology called Quorum (https://www.jpmorgan.com/global/Quorum).

They probably wouldn't spend the resources to create it if they thought it was crap =)

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Quote from: South Park on September 26, 2017, 01:11:12 PM

Quote from: Melquart on September 22, 2017, 05:11:15 PM

And the former JPMorgan’s CEO is a strong Bitcoin supporter. Bankers are just scammers searching their own profit.

This is why I think bitcoin may succeed in replacing banks while in theory banks and bitcoin are enemies the guys managing the banks are going to see a way to make profit with bitcoin and are going to adopt it then they are going to realize too late they sacrificed long term profits for short term profits.

I seriously doubt that bankers would allow that to happen so easily, they're prob just benefiting from this situation but I highly doubt that they wouldn't go all out if they see that the bitcoin is threatening their businesses. Because I think we all know that big banks aren't just like any other business out there.

South Park

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Quote from: Melquart on September 22, 2017, 05:11:15 PM

And the former JPMorgan’s CEO is a strong Bitcoin supporter. Bankers are just scammers searching their own profit.

This is why I think bitcoin may succeed in replacing banks while in theory banks and bitcoin are enemies the guys managing the banks are going to see a way to make profit with bitcoin and are going to adopt it then they are going to realize too late they sacrificed long term profits for short term profits.

cryptoking710

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This guy at JPMorgan is sitting on the biggest fraud of them all... Check out the billions in fines they have already paid out this year!!!

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Quote from: Sir_lagsalot on September 20, 2017, 05:08:53 PM

If you ask me, it's not the fact that he believes that it's fraud, or a scan, or a bubble. He's scared shitless when it comes to Bitcoin. The fact that almost everything he's learned over his lifetime is changing with bitcoin bending economic concepts, He doesn't have that power he used to have. The fact that he is firing and threatening a divorce means that it's gotten to his head. It's just not rational.

Bitcoin is living in Jamie Dimon's head, rent-free.

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And the former JPMorgan’s CEO is a strong Bitcoin supporter. Bankers are just scammers searching their own profit.

South Park

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Quote from: Kakmakr on September 22, 2017, 02:21:01 AM

The CEO of JPMorgan, Jamie Dimon has officially tainted his reputation with these statements he made in public. If you point the finger to another technology or organization and your own operation is a dark pit of corruption and fraud, then you made a ass of yourself.

People are not stupid and they know JP Morgan is one of those banks who cannot point a finger at anyone else, because their history is tainted with fraud.

After the price dropped, they bought some more Bitcoin based derivatives. How ethical is that kind of behaviour? This is why people should stand up against these types of people and organizations and expose them for what they are. ^smile^

Most people do not care, those people are vastly responsible for the worst economic crisis in the last 80 years, a crisis that we are still going through and people still decide to invest in those dishonest organizations, to be honest I cannot wait for bitcoin to become mainstream and to see those institutions destroyed.

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The CEO of JPMorgan, Jamie Dimon has officially tainted his reputation with these statements he made in public. If you point the finger to another technology or organization and your own operation is a dark pit of corruption and fraud, then you made a ass of yourself.

People are not stupid and they know JP Morgan is one of those banks who cannot point a finger at anyone else, because their history is tainted with fraud.

After the price dropped, they bought some more Bitcoin based derivatives. How ethical is that kind of behaviour? This is why people should stand up against these types of people and organizations and expose them for what they are. ^smile^

FoxTheHuman

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Quote from: Robbert_b on September 18, 2017, 08:44:29 AM

Hi, what is your opinion about this ?
https://fxpmarkets.blog/2017/09/15/bitcoin-is-a-fraud-said-jp-morgan-ceo-jaime-dimon/
I heard JP Morgan bought a lot of bitcoins after the fall,
do you think is only manipulation ?

This is the bad behavior of those who want to redeem themselves, they try to make big waves that have a strong impact on btc, wait for them it down to buy and push it up for sale.
The way they do it is shy , I really hate this.

domgamer

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They just bashing bitcoin to get opportunity to buy lower Grin

pooya87

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Quote from: Merovius on September 21, 2017, 06:06:22 PM

Apparently there has been a complaint filed with the Swedish Financial Supervisory Authority against Jamie Dimon and JP Morgan over Dimon's bitcoin comments. An outfit called Blockswater is claiming that Dimon violated Article 12 of the European Union's Market Abuse Regulation by declaring that bitcoin was "a fraud":

http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments

i feel an odd satisfaction about this news. although i know that it won't matter in the end since they are good enough to throw the complaint in the trash and justify it somehow.
but the market manipulators like them should really be punished. it is actually illegal to manipulate market in any form and it is punishable by law.

Quote

Many forms of market manipulation are prohibited in most countries, in particular, it is prohibited in the United States under Section 9(a)(2) of the Securities Exchange Act of 1934, in Australia under Section 1041A of the Corporations Act 2001, and in Israel under Section 54(a) of the securities act of 1968.

no0dlepunk

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Actually, there is a group of bitcoin enthusiasts and supporters who already have filed a case against Dimon under the European Union. According to Florian Schweitzer which I have read from Twitter, Dimon's statement 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. Also, Schweitzer believes that Dimon has violated Article 12 of the European Union's Market Abuse Regulation (MAR) by calling cryptos a fraud.

Darker45

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Quote from: Robbert_b on September 18, 2017, 08:44:29 AM

Hi, what is your opinion about this ?
https://fxpmarkets.blog/2017/09/15/bitcoin-is-a-fraud-said-jp-morgan-ceo-jaime-dimon/
I heard JP Morgan bought a lot of bitcoins after the fall,
do you think is only manipulation ?

This is one way of huge investors to be able to buy cheap bitcoins. They are playing their cards well. Since he already has a name, he can easily spread FUDs that will have an impact to the price of bitcoin. News will then spread about his words. But the people are blind that behind such words, this man is a huge bitcoin investor.

Fourgh

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Quote from: Robbert_b on September 18, 2017, 08:44:29 AM

Hi, what is your opinion about this ?
https://fxpmarkets.blog/2017/09/15/bitcoin-is-a-fraud-said-jp-morgan-ceo-jaime-dimon/
I heard JP Morgan bought a lot of bitcoins after the fall,
do you think is only manipulation ?

Well I dont know, but one things for sure that they are afraid if a lot of people invest their money on bitcoion rather on depositing it to the bank.
Investing your money on bitcoin will have far more greater return rather than putting it in a bank for sure. Maybe that's their way of making people feel afraid of investing their money on bitcoin.

pucunghul

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yes they manipulate it, they make the rumors getting hotter over the ban from china. until finally they buy bitcoin. this is a game. yes i guess that's them

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