We all already know that jamie dimon made bitcoin price to fall by just tweeting that bitcoin is a fraud and he bought some bitcoins quickly at cheap rate.
May be he would have thought to use the same formula once again to grab some more cheap bitcoins.
We could expect nothing more from a person belonging to financial institutions which has been shaken by bitcoin.
It might also be a continuous propaganda against bitcoin to weaken it.
But in reality,bitcoin is getting more powerful day by day.
Topic: Why JPMorgan CEO Demon is wrong about bitcoin (Read 398 times)
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Spot on analysis.
Jamie Dimon is criticizing bitcoin and putting it in a ad light because he needs to. He can't let bitcoin gain too much traction or otherwise, he may well go out of business. It's just like business rivals trying to fight each other, and he is obviously biased on the matter.
Sure, bitcoin price may be in a bubble. But that does not mean bitcoin is a fraud. Bitcoin as they said is simply a decentralized network for validating and recording transactions. How is that a fraud, especially when you consider central banks are the real fraud printing so much money and diluting the monetary supply?
JP Morgan as unusually have a secrets to hide ...
not under our code ...
JP Morgan as unusually have a secrets to hide ...
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It's important to understand that bitcoin and other digital currencies are simply software, a computer program designed to automatically verify and transfer value around the world — exactly the role that JPMorgan currently plays. In fact, JPMorgan moves about $6 trillion a day and they are pretty good at it — but bitcoin and blockchain technology are proving to be better.
I am not sure if he really knows what he is talking about, but coming from a Bitcoin holder, supporter and a diehard, Bitcoin is not better than the traditional ways to transmit "value". What makes it better is it can run and behave as a trustless payment system that is decentralized, immutable and permissionless. Its transaction throughput is worse if not the worst but who said decentralization was easy? It will take a lot of time and development for Bitcoin to reach the "Visa standard", if it does reach it.
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This is an interesting commentary contradicting the new epitome of the anti-Bitcoin movement named Jamie "Demon" Dimon and I could not agree more. Definitely, Demon is just one of the many (and there would be more expect on that!) people who are already disrupted by Bitcoin. And he is putting up a fight because he feared that he and the institution he is representing can be marginalized if ever Bitcoin can be going mainstream.
This is an interesting commentary contradicting the new epitome of the anti-Bitcoin movement named Jamie "Demon" Dimon and I could not agree more. Definitely, Demon is just one of the many (and there would be more expect on that!) people who are already disrupted by Bitcoin. And he is putting up a fight because he feared that he and the institution he is representing can be marginalized if ever Bitcoin can be going mainstream.
to be sure of this i would wait longer. right now it has been only a short while (during the dip) that they started attacking bitcoin like this.
wait a little while until this down-time passes and the next rally starts. if you saw them continue attacking bitcoin then it is clear that what you said about "anti bitcoin movement" is true. but i suspect it will all stop because simply he talked about fraud just to crash the market more to be able to buy cheaper coins.
You don't actually have to exert some effort responding to this man. This man is trying to bait some Bitcoin holders to sell their bitcoins. Those who have weak hands might have responded to it. And the next move of this man is to acquire more and more BTC in his portfolio.
Agree. FUD and accumulate.
You don't actually have to exert some effort responding to this man. This man is trying to bait some Bitcoin holders to sell their bitcoins. Those who have weak hands might have responded to it. And the next move of this man is to acquire more and more BTC in his portfolio.
My hope is that blockchain driven capital raising can disrupt VC, private equity and IPO level investment banking, totally castrating the ability of these ticketclippers to make any money. Sure, ICO's are scammy as hell at the moment, but if you can still raise more capital for less equity/tokens/whatever in the ICO market, companies will move in this direction.
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JPMorgan CEO Jamie Dimon is at it again, calling bitcoin worthless and predicting its spectacular collapse. As a hedge-fund manager focused on the new asset class of bitcoin and other digital currencies, I couldn't disagree more with Jamie Dimon. Perhaps I have fallen too far down the rabbit hole and my view is warped by my business interest — but there is a reason that I decided to take the career risk of shifting my focus to this new asset class. The reason is that I have seen this movie before with the emergence of the internet.
In the early 1990s, I was a fledgling trader who had moved to New York to make his mark on Wall Street. The internet, as I knew it, existed on a single computer at the end of the trading desk. This "internet" appeared only to be useful for something called email, which, to a trader with telephones on each ear seemed like a novelty. In hindsight, it's abundantly clear that I was too young and inexperienced (read: dumb) to understand the revolution that was happening right before my eyes. My view is not that Jamie Dimon doesn't understand the disruption that is happening in financial services — on the contrary, I think he is acutely aware. What I think is happening here (predictably), is that the CEO of one of the world's largest financial institutions is threatened by software that was developed to upend his position at the top of the food chain.
It's important to understand that bitcoin and other digital currencies are simply software, a computer program designed to automatically verify and transfer value around the world — exactly the role that JPMorgan currently plays. In fact, JPMorgan moves about $6 trillion a day and they are pretty good at it — but bitcoin and blockchain technology are proving to be better.
Read more of this here...
This is an interesting commentary contradicting the new epitome of the anti-Bitcoin movement named Jamie "Demon" Dimon and I could not agree more. Definitely, Demon is just one of the many (and there would be more expect on that!) people who are already disrupted by Bitcoin. And he is putting up a fight because he feared that he and the institution he is representing can be marginalized if ever Bitcoin can be going mainstream.
The main problem here is that the media is giving him the attention he is asking for. Well, the media is cooperating because soon the media would also be disrupted by the blockchain...we are just waiting for a good project for the media platform that would take advantage of the innovative blockchain technology.
The market is giving the kind of reaction that Demon is craving for and that is why he is doing it again and again. You can expect that the man would be using the media to promote his own bias and to cement his own legacy as an anti-Bitcoin propagandist.
Welcome to the world of the Demon! Pun intended!
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