Highly Recommended: Bitcoin (BTC) price mostly rises after Jamie Dimon warns against it — Quartz
(qz.com)
Yesterday, Jamie Dimon, chief executive of JPMorgan Chase, told a conference that he thinks the cryptocurrency bitcoin is a “fraud” and “not a real thing.
” He declared that the open-source protocol would eventually “close.” He even went so far as to warn his employees that if they were caught trading bitcoin, they would be fired “in a second” for their “stupidity.
”Dimon has been a cryptocurrency Cassandra for years. He first raised the alarm (as far as Quartz’s use of search engines can tell) about bitcoin in January 2014, observing that it was “a terrible store of value” that was mainly used for illicit purposes.
Over the years he issued several more warnings. Here they are:
While Dimon’s original critique was prescient—at the time a major rally was turning into a crash—his other warnings haven’t been as profitable. If you’d ignored his advice and bought bitcoin when he warned against it, you’d be in the money two out of three times.
Date
Jamie says…Bitcoin price…12 months laterJan 23, 2014“Bitcoin is a terrible store of value, ”$854-73% Nov 5, 2015 “Bitcoin will not survive, ”$38882% Jan 20, 2016 “Bitcoin is going nowhere, ”$419113%Sep 12, 2017 “Bitcoin is a fraud,”$4,148
As for Dimon’s latest admonition? Well, if he got it wrong and the cryptocurrency revolution sweeps banks like his away, at least one member of the Dimon family is well hedged: He told the conference that one of his daughters bought bitcoin and is sitting on tidy profits.
“Now she thinks she’s a genius,” he said.... discover more stories on Quartz here: https://qz.com/1076254/bitcoin-btc-price-mostly-rises-after-jamie-dimon-warns-against-it/
” He declared that the open-source protocol would eventually “close.” He even went so far as to warn his employees that if they were caught trading bitcoin, they would be fired “in a second” for their “stupidity.
”Dimon has been a cryptocurrency Cassandra for years. He first raised the alarm (as far as Quartz’s use of search engines can tell) about bitcoin in January 2014, observing that it was “a terrible store of value” that was mainly used for illicit purposes.
Over the years he issued several more warnings. Here they are:
While Dimon’s original critique was prescient—at the time a major rally was turning into a crash—his other warnings haven’t been as profitable. If you’d ignored his advice and bought bitcoin when he warned against it, you’d be in the money two out of three times.
Date
Jamie says…Bitcoin price…12 months laterJan 23, 2014“Bitcoin is a terrible store of value, ”$854-73% Nov 5, 2015 “Bitcoin will not survive, ”$38882% Jan 20, 2016 “Bitcoin is going nowhere, ”$419113%Sep 12, 2017 “Bitcoin is a fraud,”$4,148
As for Dimon’s latest admonition? Well, if he got it wrong and the cryptocurrency revolution sweeps banks like his away, at least one member of the Dimon family is well hedged: He told the conference that one of his daughters bought bitcoin and is sitting on tidy profits.
“Now she thinks she’s a genius,” he said.... discover more stories on Quartz here: https://qz.com/1076254/bitcoin-btc-price-mostly-rises-after-jamie-dimon-warns-against-it/
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Francisco Gimeno - BC Analyst It is real! And a part of the struggle which will come from those who don't want any paradigm change, or want a controlled change (controlled by them of course....) block chain means more decentralization and democratization. Do we really believe this kind of people want that? -
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Robert Haastrup-Timmi Executive at Blockchaincompany.info Jamie's bank JPMorgan only exists today because they were bailed out by the tax payer during the financial crises of 2008, a deep problem still not solved, but only stitched up for now. This story and others today about his awful comments, reminds me we must be living in a simulation... it can't be real!