Topic: The other thing getting "halved" every 4 years are the critics and nonbelievers. (Read 215 times)
August 03, 2021, 08:09:15 AM
I have been in crypto for quite a long time, but all the time I notice only a rise in the price and an increase in the number of active investors.
July 31, 2021, 03:19:40 PM
That's exactly the kind of scenario you get when people do not really/fully understand something, go ahead to criticize it, but later come to the realization that their initial thoughts were actually wrong and what they had at first criticized 'blindly' is more useful than they thought possible. Take a look at institutional investors and their influx into the network, I'm pretty sure prior to the pandemic so many of those institutions overtly or secretly criticized the Bitcoin network, but a change in the financial system/economic collapse drew their attention to a very good use case the technology possess (a hedge to inflation). Op to a large extent, I quite agree with your ideology, and I think it would continue that way, the network is definitely headed for the long term, thus there will still be quite a lot of 'change of hearts' going forward.
July 31, 2021, 03:02:15 PM
2. Dimon said that if any JPMorgan traders were trading the crypto-currency, “I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”
Sounds like a totally reasonable thing, daytrading crypto, escpecially shitcoins, is a good way to lose money, so if their workers were doing it, they have full right to fire them. I'm sure JPMorgan doesn't care what their traders do on their own private time.
While I agree with the title, JPMorgan giving their users access to crypto funds doesn't necessarily mean that Jamie Dimon did a total 180 with his opinions concerning cryptocurrencies. It could simply just mean that JPMorgan's users want crypto funds, so they're giving them access just for them to earn money off the fees. Their main goal is to make money in the first place, not to push their agenda to their users.
That's exactly what Jamie Dimon said earlier this year, he's still not a fan of cryptocurrency, but if his clients want it, he doesn't mind giving them access and taking fees. But I have an impression that his stance somewhat softened, if he believed that all crypto is a scam/ponzi, he wouldn't let his clients deal with it, that would be unethical.
July 31, 2021, 05:07:02 AM
While I agree with the title, JPMorgan giving their users access to crypto funds doesn't necessarily mean that Jamie Dimon did a total 180 with his opinions concerning cryptocurrencies. It could simply just mean that JPMorgan's users want crypto funds, so they're giving them access just for them to earn money off the fees. Their main goal is to make money in the first place, not to push their agenda to their users.
https://www.seattletimes.com/business/jpmorgan-chase-ceo-id-fire-traders-who-bet-on-fraud-bitcoin/
Originally published September 12, 2017 at 5:56 pm
"JPMorgan Chase CEO Jamie Dimon said Tuesday he would fire any employee trading bitcoin for being “stupid.” The cryptocurrency “won’t end well,” he told an investor conference in New York, predicting it will eventually blow up."
I don't know what a 180 is for you, but this to me is a 100% 180. It doesn't matter what Jamie Dimon wants neither did it matter what Steve Jobs wanted. The only thing that matters is what the customer wants. Jamie Dimon's mind might not have changed, but his mind isn't of any interest to anyone. What counts are his actions. And his actions did a 180 obviously. A 180 to me is if someone acts in a 100% opposite way to what he or she says. As Dimon used such harsh words against Bitcoin, his actions can present nothing else but a 180.
Would be the same if Buffet purchases a bag of rat poison and you would say it is not a 180 because it is only Buffet's customers who want rat poison and not Buffet.
July 31, 2021, 05:02:17 AM
I think Jamie Dimon is a bad example of someone who criticized Bitcoin from a high position - because everyone forgets that same man changed his mind just a few months later.
I think the man simply ran into his statement like many other people, but how many of them have admitted the mistake from then until today? Take a look at what Michael Saylor said about Bitcoin back in 2013, and today his company has over 100 000 BTC. There are as many critics and unbelievers as you want even today, that is completely normal.
Quote from: https://www.cnbc.com/2018/01/09/jamie-dimon-says-he-regrets-calling-bitcoin-a-fraud.html
J.P. Morgan Chase CEO said he regrets calling bitcoin a fraud. “The blockchain is real,” Dimon tells Fox Business. In September, Dimon called bitcoin a fraud. “I regret making” that comment, he said Tuesday on Fox Business.
I think the man simply ran into his statement like many other people, but how many of them have admitted the mistake from then until today? Take a look at what Michael Saylor said about Bitcoin back in 2013, and today his company has over 100 000 BTC. There are as many critics and unbelievers as you want even today, that is completely normal.
Quote from: https://www.investing.com/news/cryptocurrency-news/bitcoins-biggest-critics-and-their-concerns-2431219
Bitcoin’s critics are not slowing down in their criticisms against cryptocurrency.
Nouriel Roubini, Janet Yellen, Jack Ma, Warren Buffett, Ben Bernanke, amongst others, are part of Bitcoin’s fiercest critics.
Nouriel Roubini, Janet Yellen, Jack Ma, Warren Buffett, Ben Bernanke, amongst others, are part of Bitcoin’s fiercest critics.
July 31, 2021, 04:06:16 AM
I don't think so, although there are some that converts over time, I don't think that the detractors and haters of bitcoin are getting halved because if you think about it, there are people out there that doesn't know yet about bitcoin meaning that they don't have any opinions on it yet, now as it gets more recognition, people will start to form their own opinion.
July 31, 2021, 04:00:59 AM
But even if the day comes when Bitcoin is as normalized in society as gold (or as a currency, it doesn't matter) there will still be a few critics, just as there are still people who believe that the earth is flat (and we have examples of this in this forum).
I mean, even fiat has its own critics. There is no system where everyone happily accepts it without being skeptical of its future. Only time will tell whether the system can keep on running or it will become obsolete. Let's just enjoy the ride. 
July 27, 2021, 12:47:24 AM
Nice title.
It is quite logical. As Bitcoin continues to survive and the price continues to increase there are more and more of the former critics who come to believe in Bitcoin. Saylor or Mr. Wonderful would be two examples. As it becomes more and more adopted, there will be fewer and fewer critics. But even if the day comes when Bitcoin is as normalized in society as gold (or as a currency, it doesn't matter) there will still be a few critics, just as there are still people who believe that the earth is flat (and we have examples of this in this forum).
It is quite logical. As Bitcoin continues to survive and the price continues to increase there are more and more of the former critics who come to believe in Bitcoin. Saylor or Mr. Wonderful would be two examples. As it becomes more and more adopted, there will be fewer and fewer critics. But even if the day comes when Bitcoin is as normalized in society as gold (or as a currency, it doesn't matter) there will still be a few critics, just as there are still people who believe that the earth is flat (and we have examples of this in this forum).
July 26, 2021, 10:34:37 PM
Let me just start by saying that your example is not a "criticism" but "FUD" and although I would love to believe your title but I believe the number of FUD and misinformation in general is actually increasing every year specially as bitcoin's popularity grows more and threatens certain corrupt actors like your example from the head of one of the most corrupt banks in America.
~ doesn't necessarily mean that Jamie Dimon did a total 180 with his opinions concerning cryptocurrencies.
This wasn't his opinion, it was his FUD. You can only take back FUD not change 180 degree 
July 26, 2021, 10:07:13 PM
You got a merit from me just for the title alone....that was clever 
Regardless of the motive and personal opinion, these talking heads of financial institutions could not resists the benefits of bitcoin and cryptocurrencies. They already acknowledge the fact that people (clients/potential customers) are seriously into crypto.
Regardless of the motive and personal opinion, these talking heads of financial institutions could not resists the benefits of bitcoin and cryptocurrencies. They already acknowledge the fact that people (clients/potential customers) are seriously into crypto.
July 26, 2021, 10:02:21 PM
Interesting point!
It is how influential people, corporations change their minds and strategies. Please give me this chance to bring the ban on the Internet back.
Source:
25 years and let's see how things have been totally changed. The Internet changes the world, changes our lifes.
Nowadays, massive FUD on current and potential bans on Bitcoin and cryptocurrency. What will happen on Earth after next 25 years?
The growth of Bitcoin and cryptocurrency is faster than the Internet, so you can imagine something positively?
It is how influential people, corporations change their minds and strategies. Please give me this chance to bring the ban on the Internet back.
- https://www.newspapers.com/clip/78863144/the-signal/
- https://pessimistsarchive.substack.com/p/d50e0dc3-89d3-4797-8683-ff6c01de3a5c
25 years and let's see how things have been totally changed. The Internet changes the world, changes our lifes.
Nowadays, massive FUD on current and potential bans on Bitcoin and cryptocurrency. What will happen on Earth after next 25 years?
The growth of Bitcoin and cryptocurrency is faster than the Internet, so you can imagine something positively?
July 26, 2021, 09:53:07 PM
While I agree with the title, JPMorgan giving their users access to crypto funds doesn't necessarily mean that Jamie Dimon did a total 180 with his opinions concerning cryptocurrencies. It could simply just mean that JPMorgan's users want crypto funds, so they're giving them access just for them to earn money off the fees. Their main goal is to make money in the first place, not to push their agenda to their users.
It isn't a total 180 per se but it's a start. If you see one of the quotes he made in 2017, he was totally against any of the JP Morgan traders trading cryptocurrency.Quote
“I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”
But now;
Quote
JPMorgan's advisors can execute only "unsolicited" crypto trades, meaning advisors cannot recommend the products but are allowed to buy or sell on the behalf of a client's request.
SourceWhether they are just trying to make money through fees or not. The fact that they were totally against cryptocurrencies at first and now they accept their clients to trade them means the Bitcoin pressure is inevitable
July 26, 2021, 09:04:34 PM
While I agree with the title, JPMorgan giving their users access to crypto funds doesn't necessarily mean that Jamie Dimon did a total 180 with his opinions concerning cryptocurrencies. It could simply just mean that JPMorgan's users want crypto funds, so they're giving them access just for them to earn money off the fees. Their main goal is to make money in the first place, not to push their agenda to their users.
July 26, 2021, 06:00:01 PM
While the Bitcoin block mining rewards are halved every 210,000 Blocks (~4 years). A number of critics also tends to get "halved" during the course of the 4 years
I remember in 2017 when I officially started using Bitcoin. There was one Individual and bank name I recall that kept popping up in the crypto news sites. Always criticizing Bitcoin, Jamie Dimon, CEO of JP Morgan
Link: https://www.reuters.com/article/legal-us-usa-banks-conference-jpmorgan-idUSKCN1BN2PN
Quotes by Jamie Dimon
4 years later...
Link: https://www.reuters.com/business/finance/jpmorgan-give-all-wealth-clients-access-crypto-funds-business-insider-2021-07-
I remember in 2017 when I officially started using Bitcoin. There was one Individual and bank name I recall that kept popping up in the crypto news sites. Always criticizing Bitcoin, Jamie Dimon, CEO of JP Morgan
Link: https://www.reuters.com/article/legal-us-usa-banks-conference-jpmorgan-idUSKCN1BN2PN
Quotes by Jamie Dimon
Quote
1. “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”
2. Dimon said that if any JPMorgan traders were trading the crypto-currency, “I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”
3. “It is worse than tulips bulbs,” Dimon said, referring to a famous market bubble from the 1600s.
4.“Don’t ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.”
5. “Honestly, I am just shocked that anyone can’t see it for what it is.”
2. Dimon said that if any JPMorgan traders were trading the crypto-currency, “I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”
3. “It is worse than tulips bulbs,” Dimon said, referring to a famous market bubble from the 1600s.
4.“Don’t ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.”
5. “Honestly, I am just shocked that anyone can’t see it for what it is.”
4 years later...
Link: https://www.reuters.com/business/finance/jpmorgan-give-all-wealth-clients-access-crypto-funds-business-insider-2021-07-
Jump to: