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Recommended: Bitcoin faithful rage against Jamie Dimon - MarketWatch (
‘My memory is failing, was it bitcoin or was it J.P. Morgan that was bailed out by the government?’

Hell hath no fury like a bitcoin enthusiast scorned.

If J.P.  Morgan’s JPM, -0.20%  Jamie Dimon spent any time bouncing around the internet the past couple of days, he’d know all about that.
The whole thing started on Tuesday when he skewered bitcoin BTCUSD, -2.33%  as a fraud and a bubble: “It’s worse than tulip bulbs and won’t end well.

Read: Everything you need to know about digital currencies in one massive graphic.

Dimon then proceeded to fuel the fire at a Barclays conference when he went into the types of people who might actually find bitcoin useful.

“The only good argument I’ve ever heard… is that if you were in Venezuela or Ecuador or North Korea... or if you were a drug dealer, a murderer, stuff like that, you are better off dealing in bitcoin than in U.S. dollars, you are better off bypassing the system of your country even if what I just said is true,” he said at a Barclays conference.

“There may be a market for that, but it’s a limited market.”Oh, it’s on.First came the crypto execs...


Erik Voorhees @ErikVoorhees

My memory is failing, was it Bitcoin or was it JP Morgan that was bailed out by the government? …
7:55 PM - Sep 12, 2017

And the alt media...View image on TwitterDJp3szsWsAA0Pmm.jpg:small


Max Keiser @maxkeiser

The chart that will drive Jamie Dimon off the ledge, on the road to #Bitcoin $100,000.

4:25 AM - Sep 14, 2017

Even a former Citi employee chimed in...


Alex Gurevich @agurevich23

Jamie, you're a great boss and the GOAT bank CEO. You're not a trader or tech entrepreneur. Please, STFU about trading $BTC.8:50 PM - Sep 12, 2017 · San Francisco, CA

Then the op-eds started popping up...“Dimon’s comments encapsulate an outdated mentality whose very existence explains why there’s a demand and need for cryptocurrency in the first place,” wrote venture capitalist Bradley Tusk.

And the TV appearances...“I’m a bitcoin miner. We create bitcoins. It costs over $1,000 per coin to create a bitcoin,” John McAfee, the guy who bet his manhood bitcoin would top $500,000, told CNBC. “What does it cost to create a U.S. dollar? Which one is the fraud?”And the memes. Don’t forget the memes...

Finally, the charts...This one from Quartz’s story, “When Jamie Dimon warns against bitcoin, it’s usually a good time to consider buying some”:

Will Dimon’s latest take prove to be another contrarian signal? Too early to tell, of course, but it’s hard to argue with him considering recent price action.

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    Francisco Gimeno - BC Analyst OMG! I enjoyed this one. I laughed a lot and found myself nodding in affirmation on almost every line. Market watch has been one of my favourites since I don't know when and finding these small pearls is worthy.
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