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Jamie Dimon: "I Regret Calling Bitcoin A Fraud"

 
SAYS THE FRAUDSTER
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01/09/2018 11:52 AM
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Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
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Less than four months after Jamie Dimon lashed out at bitcoin, warning that it was would "eventually blow up" because it was "worse than tulip bulbs" and that "any trader trading bitcoin" will be "fired for being stupid", the JPMorgan CEO said he "regrets" his infamous criticism of bitcoin, in which he called the cryptocurrency a "fraud."

In an interview with FOX Business' Maria Bartiromo, Dimon repented, softening the comments he made in a September banking conference, saying "I regret making them."

While Dimon said that he personally is still "not interested in the subject at all" he conceded that blockchain "is real." Dimon also softened his tone on initial coin offerings, saying that ICOs need to be reviewed “individually”.

"The blockchain is real. You can have crypto yen and dollars and stuff like that. ICO's you have to look at individually", Dimon told Bartiromo.

"The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people. I'm not interested that much in the subject at all."

Until today's recantation, Dimon was one of the highest-profile bitcoin skeptics on Wall Street. His remarks in September were met with anger from many in the cryptocurrencies community, but also echoed by other top executives, including Larry Fink, chairman and chief executive of BlackRock.

Since then, the acceptance of bitcoin has moved to the institutional arena with both the cboe and CME launching bitcoin futures, while Goldman is preparing a cryptocurrency trading desk. It was only a matter of time before Dimon realized all the potential lost revenue, and rushed back in to avoid losing even more market share.
Anonymous Coward
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01/09/2018 11:55 AM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
He's an idiot. It was always a pyramid scheme and always will be until it gets shut down.
SAYS THE FRAUDSTER (OP)
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01/09/2018 11:57 AM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
:money:
Anonymous Coward
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01/09/2018 12:06 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Sell now ...total sign
SAYS THE FRAUDSTER (OP)
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01/09/2018 12:15 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Sell now ...total sign
 Quoting: Anonymous Coward 49439340


hesright
Anonymous Coward
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01/09/2018 01:03 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
:money:
 Quoting: SAYS THE FRAUDSTER 71188595


hesright
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01/09/2018 01:11 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"


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Rest
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01/09/2018 01:13 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"


[link to www.youtube.com (secure)]
Anonymous Coward
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01/09/2018 01:16 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Buy Dragons drgn




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Anonymous Coward
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01/09/2018 01:17 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
H t t p s : / / t . M e / d r a g o n t a l k
Anonymous Coward
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01/09/2018 01:18 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
I regret nothing.
Anonymous Coward
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01/09/2018 01:21 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Sell now ...total sign
 Quoting: Anonymous Coward 49439340



yup... when the last bear turns bullish, that's the top.
DRGONZO

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01/09/2018 01:26 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Translation....

"Now that JP Morgan has accumulated enough cheap BTC for itself I no longer think BTC is a fraud.."

I mean how fucking obvious is this guy...?
Anonymous Coward
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01/09/2018 01:27 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Translation....

"Now that JP Morgan has accumulated enough cheap BTC for itself I no longer think BTC is a fraud.."

I mean how fucking obvious is this guy...?
 Quoting: DRGONZO


agent
DRGONZO

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01/09/2018 01:32 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
useless
DRGONZO

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01/09/2018 01:35 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
From the fuckers that brought you
"Subprime is contained"
Anonymous Coward
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01/09/2018 01:45 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Bitcoin only exists as long as it is profitable to mine it. The minute no-one can mine and make a profit all mining shuts down, and then bitcoin is STONE DEAD. No transactions can be made, no-one can get any real money for their bitcoins, and the value of your bitcoin is now zero.

How long will it take before mining becomes unprofitable? No-one knows for sure, but math guarantees that it must happen sooner or later. Bitcoin has a limited shelf life by design. It becomes harder and harder to mine as time passes. At some point breakeven can't be reached for the miners, and bitcoin is history.

When bitcoin dies, all altcoins will likely die too, since the entire crypto ecosystem is built around bitcoin.

The exception will be digital currencies supported by central banks and financial institutions.
Anonymous Coward
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01/09/2018 01:46 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"


[link to www.youtube.com (secure)]
Anonymous Coward
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01/09/2018 01:48 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Dragonchain dragonchain dragonchain...
Anonymous Coward
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01/09/2018 01:55 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Dragonchain dragonchain dragonchain...
 Quoting: Anonymous Coward 68884531


At last somebody fuckin' gets it. Asshats!
The Rickest Rick Sanchez

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01/09/2018 01:56 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Sell now ...total sign
 Quoting: Anonymous Coward 49439340


Absolutely not

Wait for Dimon and Blankfein to inflate the bubble first

They will sell crypto to the American Public
 Quoting: Open Your Eyes 36412953


correctscience
The universe is basically an animal. It grazes on the ordinary. It creates infinite idiots just to eat them.

The Rickest Rick Sanchez comments are meant for entertainment purposes only and should not be construed to reflect the feelings and opinions, implied or expressed, of the author.
The Comedian :D

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01/09/2018 02:19 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
:nelson:
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Anonymous Coward
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01/09/2018 02:25 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
He's an idiot. It was always a pyramid scheme and always will be until it gets shut down.
 Quoting: Anonymous Coward 75716984


There's so much irony in your comment.
Anonymous Coward
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01/09/2018 02:29 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
another thread, where most people show they still don't understand how crypto works or what determines it's price.

it's not a fucking secret.
Anonymous Coward
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01/09/2018 02:58 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
another thread, where most people show they still don't understand how crypto works or what determines it's price.

it's not a fucking secret.
 Quoting: Anonymous Coward 70869817


JP Morgan Chase has a long history of FUCKING the muppets.

You don't understand how JP Morgan works, generations of banking and money handling that you cannot comprehend.

If you don't think that JP Morgan can take every last cent from cryptotards chasing whatever 0 or 1 just went up.... well enjoy the ride.
Anonymous Coward
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01/09/2018 03:01 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
why is such a dumb smuck in this job anyways?
humbird

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01/09/2018 03:05 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
they clued him in that the banking cartel now controls the cryptos. He wins. You lose
"Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria."
John Keel
Sir France's Beercan

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01/09/2018 03:12 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Dragonchain dragonchain dragonchain...
 Quoting: Anonymous Coward 68884531


At last somebody fuckin' gets it. Asshats!
 Quoting: Anonymous Coward 76097742


What’s dragon chain?
Sir France's Beercan

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01/09/2018 03:22 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Translation....

"Now that JP Morgan has accumulated enough cheap BTC for itself I no longer think BTC is a fraud.."

I mean how fucking obvious is this guy...?
 Quoting: DRGONZO


Yep they’re a bunch of wankers, they know exactly what they’re doing. Didn’t Dimon’s own bank show up as have bought millions of dollars of bitcoin in the plunge following his previous comments?
Anonymous Coward
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01/09/2018 03:37 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
Bitcoin only exists as long as it is profitable to mine it. The minute no-one can mine and make a profit all mining shuts down, and then bitcoin is STONE DEAD. No transactions can be made, no-one can get any real money for their bitcoins, and the value of your bitcoin is now zero.

How long will it take before mining becomes unprofitable? No-one knows for sure, but math guarantees that it must happen sooner or later. Bitcoin has a limited shelf life by design. It becomes harder and harder to mine as time passes. At some point breakeven can't be reached for the miners, and bitcoin is history.

When bitcoin dies, all altcoins will likely die too, since the entire crypto ecosystem is built around bitcoin.

The exception will be digital currencies supported by central banks and financial institutions.
 Quoting: Anonymous Coward 74859192



Fundamental misunderstanding of the technology. The fewer the miners, the lower the difficulty, therefore the easier it is to mine. The more miners, the higher the difficulty.

There will always be a supply/demand equilibrium based on this system.

"Profitable" vs. "unprofitable" is situationally unique to every miner.

The sweeping generalization of a (false) specific notion applying to the whole of the diverse alt-coin ecosystem is a complete abandonment of logic.

Then, to end with that a centralized fiat coin is somehow superior to the technologies that are a direct antithesis of centralized banking is merely a shill-point in disguise (the success of and demand for the antithesis indicate the level of desire for it as an alternative to centralized banksterism).

Why don't you go stamp your boot on someone's face, I think you are able to understand that process better.
Anonymous Coward
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01/09/2018 03:39 PM
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Re: Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
its not a fraud, its a trap a few tards walk into. In the end all will suffer from those tards.





GLP