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‘They’ll Close It Down.’ Jamie Dimon’s Ruthlessly Realistic Bitcoin Call
On Tuesday, Jamie Dimon had some rather incendiary things to say about Bitcoin.
Specifically, he sa
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Dimon is both a quantitatively illiterate idiot, and a symbol of everything that is wrong with this society. And his industry is threatened by crypto. Look at what RIPPLE is designed to do to the SWIFT system, and you get the drift. When your FED can’t specify what money is and you get immense transaction inefficiency throughout the economy, what is to be expected? In China, a union card at Maccau gets capital out as well as anything. The Chinese have bigger problems than crypto, much bigger.
this is simple.
you cant control the dark net (second layer)under).
the more gov tax–the stronger it gets.
DM/AM markets are going to fail.
good luck all.
Seems there are some strong opinions by those with money in the bitcoin game.
The other day the 20 something in front of Walmart was telling his buddy on the phone about how you have to buy Bitcoin anytime it comes down. 5 minutes later he is talking about the bar fight he was in….
I don’t think he cared about the dark net, or blockchain or if the SWIFT water was turning in to a RIPPLE ….. he was speculating.
There are strong opinions on both sides. Those who bought it obviously want returns. Those who didn’t and consider themselves experts abhor the idea that they didn’t see the next big thing and will lose face if it succeeds.
Personally I see it as extremely risky but my investments are small. I see the potential and I see the risks. I saw the potential at $4 but could not for the life of me figure out how to buy any. When it collapsed after MT GOX I studied the history and saw the collapse in value was tied to a misunderstanding which conflated trusting a random person to hold your money and the technology itself. One is obviously a bad idea. Systems that made Crypto more user friendly came out and I instantly bought in at around $200.
Maybe governments ban it, maybe they confiscate gold and guns, maybe they ban selling stocks or bonds, maybe they build a massive intelligence system to monitor and record the actions of every living person on earth and turn the planet into a massive prison. I don’t see how BTFD is any safer than BTC. The world’s an unpredictable place.
Government will indeed likely fight this (and other freedoms) and ultimately lose, but not before first turning against its own people and screwing them (save the parasites in the broader public sector).
Those governments, Dimon and the banksters will be on the wrong side of history.
In contrast, numerous other governments, particularly in the East, are embracing this technology and crypto.
Having a front porch view of China from Singapore and Hong Kong, I see the Chinese situation is again rather misrepresented by the western MSM tools who parrot nonsense from their various puppet masters. A moratorium on new coins in China is far different than shutting down bitcoin, which continues to be used fine. Meanwhile, marrying the truly revolutionary new blockchain-based Aadhaar system (India Stack) architecture with crypto will be uber-revolutionary and the way of the future. Watch and learn, padres, or be left behind in the financial middle ages
And yes bitcoin is indeed a bubble but that’s a different issue. Internet 1.0 was also a bubble which wiped out most investors, but the internet nevertheless flourished and internet 2.0 made billionaires of some in its second wave.
Govts banned drugs. Look what happen to prices of those items. A govt ban or two should be a good thing…wake people the hell up about what’s been going on.