JPMorgan CEO Says "Bitcoin Is A Fraud And Will Eventually Blow Up"

**MeanPeopleSuck** · 09-12-17, 09:31 PM

Don't worry about Jamie Dimon.

He's been predicting the collapse of Bitcoin nonstop since 2014, when it was priced in the $200's. You can buy into a pool at Reddit on when his next FUD proclamation will happen.

**xKMACKx** · 09-12-17, 10:40 PM

Originally posted by TheMoneyShot

So why is this guy so angry about Bitcoin?

He's the CEO of a major banking institution. No CEO likes a threat or competition in the market. Trying to scare people with his comments.

**ace7550** · 09-12-17, 11:16 PM

That damn bitcoin!

**trytrytry** · 09-13-17, 07:52 AM

JP Morgan talking about financial bubbles and scams. now that is funny. very funny they are afraid of the bitcoin currency application on the blockchain.

In her book Fool's Gold, Financial Times columnist Gillian Tett focuses on the “innovation evangelists” in the firm. A team within JP Morgan developed many of the financial products like credit derivative, which almost brought down the entire worlds financial system in 2008.

**USCPHILLYGUY** · 09-13-17, 08:40 AM

Bitcoin down a bit today

**JAKEPEAVY21** · 09-13-17, 08:50 AM

Originally posted by USCPHILLYGUY

Bitcoin down a bit today

I'm a bit concerned about the whole China deal.

**MaddyMax** · 09-13-17, 09:09 AM

if trump takes the same stance as china on bitcoin, it can fall hard.

**bigtymer56** · 09-13-17, 10:27 AM

Originally posted by trytrytry

JP Morgan talking about financial bubbles and scams. now that is funny. very funny they are afraid of the bitcoin currency application on the blockchain.

In her book Fool's Gold, Financial Times columnist Gillian Tett focuses on the “innovation evangelists” in the firm. A team within JP Morgan developed many of the financial products like credit derivative, which almost brought down the entire worlds financial system in 2008.

It's hilarious anybody would listen to him. This is from 2013 after the settlement for JPMorgan's role in the financial crisis.

"Dimon called the loss "painful" and warned that litigation costs could continue to be a drag on earnings for several quarters."

404 Page Not Found - CNNMoney

http://money.cnn.com/2013/11/19/investing/jpmorgan-mortgage-settlement/index.html

penetrate this guy.

**MeanPeopleSuck** · 09-13-17, 11:54 PM

Originally posted by JAKEPEAVY21

I'm a bit concerned about the whole China deal.

Hey, Jake, I definitely agree.

I'll try and update my China thread with each day's China news until the crisis passes or China acts.

**cog1018** · 09-14-17, 02:26 PM

So what else is this guy supposed to say? Pumping fiat and hating on crypto makes this guy money, its his job. Also, notice how he specifically singled out bitcoin and not cryptocurrencies. Could it have anything to do with the fact that JP Morgan is actually forming their own blockchain called quorum?

Background: I work with blockchain technology

**cog1018** · 09-14-17, 02:34 PM

The worst probably already happened. Everyone knew the announcement was coming, and they were ready to sell. Shouldn't be too long before it bounces back

**TheMoneyShot** · 09-14-17, 05:17 PM

Did it just drop around $1,000 in the past few days?

jesus

**ace7550** · 09-14-17, 11:07 PM

If you've been in btc for any significant amount of time I'm sure you've gained a lot more than you have lost.

**TheMoneyShot** · 09-15-17, 12:20 AM

Originally posted by ace7550

If you've been in btc for any significant amount of time I'm sure you've gained a lot more than you have lost.

I hear you. It's just odd that it was at $4,950 like... 14 days ago? Huge drop off.