When bitcoin started to build its foundation, Critics were piling-up and prophesying its end. They understimate the potential of bitcoin in the world's economic arena. Currently, Bitcoin penetrates into businesses and even huge companies convinced to join the bandwagon going to the future of currency evolution.
One of the hard-hitting critic of bitcoin was Jamie Dimon, who is the head of JPMorgan Chase , one of the largest American Banks. He does not only hate Bitcoin but also he thinks that it's a bubble and a fraud. He even threatened to fire anyone who thinks of using cryptocurrencies. He stresses that anyone using Bitcoin is a crook, stupid and they're probably from North Korea. He is just simply a bitcoin persecutor, he hits not only bitcoin but also those who are using it.
Recent news from The Wall Street Journal says that JPMorgan Chase is now heavily considering to offer its clients access to the CME Bitcoin futures market through their own futures platform essentially increasing the reach of Bitcoin through traditional markets. Jamie was so dramatically outspoken and there was a point where he was talking about it every single day and kept on saying that he didn't care cryptocurrencies and then suddenly he's doing all this stuff. It's funny how people can change their tone when money is involved and they realized that they've been incorrect from the beginning. He's just upset that he didn't get into Bitcoin at $10 like so many other heavy investors.
This will give a great impact on bitcoin when those big names of business world will engage in cryptocurrencies. Surely, the bitcoin price will skyrocket as never been before and this will encourage other businesses to join the crowd of cryptonians and there making bitcoin as the major component of world's economy.
Source: earncryptocurrencies.com
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@steemcleaners, Actually, they are the one who copied my article. They copied 2 of my article. Just please check the picture - they cropped it. Its very obvious that they copied my article and im the one in the right position to complain for plagiarism.
OK, thank you for explaining.
Thanks @steemcleaners for being fair and i really appreciate that.
A good push to Bitcoin to hit 10k ;)
Currently, BTC is hitting $9.5k and rising...
I would love to see dimon shorting BitCoin and burn his fingers.
lol
Thank you guys for your upvotes.
Bitcoin is amazing and full of surprises
It was half the price when he was calling it doomed... I’m sure he must feel like a bit of an eejit
JP Morgan bought more than 45000 bitcoins the day after dimon declared it a fud. It is a trick to fool people and buy cheap.
@rksumanthraju that was a smart move bh jp morgan buying 45000 bitcoins, this will pay off in no time. I guess
Yes but innocent small investors must have sold those coins in panic created by dimon.
"It was half the price when he was calling it doomed... I’m sure he must feel like a bit of an eejit"@jeffjagoe (58)
And now trending up and still people are sceptical of it success @jeffjagoe
I think a lot of investors are upset they didn’t get on the train early either. They are really starting to see the amount of money that could have been invested in the current investments they have
I hope you're right that the CME futures market will be good for bitcoin. I'm worried that it could be a double edged sword. It will possibly cause great volatility and damage bitcoin's reputation when the blame should be on market manipulators. Maybe Jamie Dimon now supports this move because it will give him the chance to prove his statements right by rigging the market.
It is a pity that two years ago I did not buy bitcoin (
True! you are not alone sistah, many of us felt the same. But anyway, its not too late to invest in cryptocurrencies
yeah becuse very expencive rightnow
@ekaterinka how much would you have invested in bitcoin 2 years ago, if you new it will be a huge investment today?
Many would have taken loans from banks etc to buy bitcoin
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Money talks bullshit walks :)
Everythings is negotiable in terms of $$$ LOL🤣
Hopefully money will be a forgotten entity soon .... it’s the greatest lie ever ... a great con job
This JD , is a shitbag
Agree LOL 🤣
He s no dummy rest assured there's plans to sell short via the futures exchange to curb bitcoin prices. Look at Gold and silver future prices -"the current spot price is more than the future price"! ie.. not a lot available and though this is a simplistic view there s more on this subject knowns as Backwardation and Cantango; see James Turk explanation on the subject. They naked short sell all the time consistently , last I read one ounce of gold for every one-hundred people; 100:1. The elite fraudsters are looking to control bitcoin its a thorn in their ass and any attempt to gain control on the subject of money is and always will be priority #1. Jamie Demon is suiting, these guys see themselves as "money gods" in fact it was ex-treasury secretary Timothy Geithner who stated as much.
Agree.....these guys will ensure that cryptos will be like any other fiat currency ... not now but soon .....
i think just 1000k till 2025 lol
If that's so, then all of us will be happy LOL
i think you buying too much coin for future planing lOl
Right now im focused more on ICO's. It gives more than 500% profit if we choose the right coin 😄
ICO's stands for wht..?
i dnt know about that kindly tell me
Better later .... than never! ..... right?
yup, thats absolutely true!
great ! @elizahfhaye
thanks :)
welcome
😄
Those people or people of the organization who preached Bitcoin to bad, are now attracted to Bitcoin because they know that its acceptability gains more to everyone. . But those who are criticizing. They do not have ears to hear. Only time wasted..
I do agree with yah buddy.They are just wasting their time criticizing bitcoin and later on they will engaged to it. LOL
wow i see .Let's see what happens next @elizahfhaye
I think it's dangerous to come out vehemently against something that you don't fully understand, especially so publicly as Dimon did. All it can do is come back later and embarrass you in equal measure.
I believe that a lot of the people in the traditional financial industry are legitimately smart people, but they are out of their depth when it comes to cryptocurrency. Well, with the exception of some huge investment companies like Goldman Sachs whose only goal is to manipulate markets by bashing them, so they can cash in on the fallout.
He is just eating his words in front of the public, LOL
all these big names a figuring out. if you cant beat them join them
He's just mad because he knows people are going to leave the banking system and move to digital currencies and his bank will collapse into nothing. I read, that after he bashed BitCoin the first time that he bought 10M worth of BitCoin when the price was low.
Jamie himself is a crook, a hater, and an idiot for not doing his research and I don't know how he made it to the top CEO position of a bank, but he honestly doesn't deserve his job. But it made me happy, his bashing and buying low because of him.
Thats absolutely true! There will be massive exodus on their clients due to the blockchain system thats supports bitcoin. We dont need the banking system now for our transaction since we can do it by ourselves.
Banks refused for long to consider bitcoin and other cryptocurrencies as serious currencies until a few months ago where big banks have started to open crypto accounts for their clients! Some are even creating their own crypto! The economic world is evolving and they'll have no other choice than to adapt!
Banks must adapt to the advancement of technology in currencies otherwise they will be left behind scratching their heads. They dont have a choice whatsoever - adapt it or banned it but if they will choose the latter, they will be doomed into bankruptcy.
I sat with my banker last week at ask her if the bank was considering cryptos as a legitimate issue to her bank. Her response was that the world is changing in that direction. She admits it is for real but had no plans of implementing at this point.
For now, they didnt see and feel the sad reality of the banks' future. Bitcoin users is just a fraction of world's population but definitely, it will spread throughout the continent soon and its practically fast-pace spreading. That time, banks will be force to adapt the cryptocurrency otherwise they will get bankcrupt.
My bet is that these big banks create trading instruments in order to short cryptocurrencies. I hope that they're wrong and lose a lot of money just like they will on silver.
Banks now were devising ways on how to come-up with good platform to jump in crypto world, LOL
Happy to see a lot of Steemians from the Philippines
Mainstream adoption and new buyers across the globe are pushing the price higher and higher !!!
Plus the huge business company were now considering bitcoin as part of their market
They have to do that eventually else they will loose the business. The early adopters of bitcoin will gain interms of volumes due to liberal spending of bitcoins once the price increases.
bitcoin simply leveled the business field. Before we cant even compete to those big businessman out there, but now at least we have a pinch of investment that will somehow parallel to theirs :)
Try investing on ICO's, you will earn big if you hit the right coin.
Iam already invested in Electroneum and trying to identify good icos. Bro, let me Know if you find any better icos.
Only crazy people don't change their minds.
Anyway, I'd like to know how Jamie Dimon feels today. Does he now consider himself a crook, stupid or North Korean? I'm just asking.
I'm also upset that I did not hit $ 10 in Bitcoin, like many other heavy investors. And I think that the bitcoin rate will skyrocket up to 100 000 $
Dont worry buddy, you are not alone, we're so many lol
i learned bitcoin when its $3000 per piece
Eating up his own words is not easy, at least he's not blind enough to not offer his clients Bitcoin and calling them "stupid" ahahaha.....
At early stage of bitcoin, JD looks so confident in his words and persecute bitcoin that much but lately, he swallowed his pride and submit himself to the new currency that reining in the market today.
pues uno no sabe nada con seguridad, hay que estar preparados poniendo los huevos en varias canastas-
Bitcoin has had soo much negative media attention yet it still moves higher and higher, because its a disruptive technology which no one can stop!
They just underestimate the value of bitcoin but now they are thinking twice on it.
They havent a clue what to do. They must be scared, the amount of money that is coming into crypto. They don't know whether to hedge in various ways or cling to fading dreams of destroying crypto.
yup, i agree with yah buddy. If they will not join the crypto bandwagon they will be left behind since crypto is spreading like gangrene in the market today
nice post @elizahfhaye
Poor Jamie Dimon - Everyone is always pickin' on the guy! ha ha ha
Well ... perhaps the reason he is so aggressively against Bitcoin is simply to cause a stir, and an interest in the cryptocurrency. All the while, he's secretly been holding since 2010! ha ha ha
Before, For him it was just a pocket change, now that its worth a thousand a sudden change of mind. A true sign of a businessman. Everything is about money.
its simply money talks!
I do see one thing with this that is consistent with Dimon's hatred of Bitcoin. He could short on Bitcoin in the hopes that it collapses. If it does, he makes a lot of money.
Say for example, that Bitfinex folds. It's a serious possibility. This could send crypto into a downward spiral much like the Mt. Gox crash. It's possible he could short on that possibility and make a lot of money if it happens.
One thing is sure, he is eating his words now, LOL
When Jamie Dimond says one thing publicly, he's really doing the opposite privately.
have you invested on this ??
yup, i do. and also i invested in ICO's that are legit.
Nice @elizahfhaye
That’s quite comical to hear because Jaime dimon said he would fire anyone who traded bitcoin for J.P. Morgan.
If what your saying is completely true that is awesome news.
He's now eating his words 🤣
We have now over 1320 Cryptocurrencies / 6988 Markets out there.
Which coin could be the next bitcoin and tell my why?
For now, nothing beats bitcoin since it is the backbone in all currencies. Before you can even purchase some coin, you need to go through bitcoin or etherium
Its schoolyard psychology. You tease the person you secretly like.
its reverse psychology? :)
I'm scared that the futures market will lead to a derivatives market and we all know what happens then.
hoping not.
Good luck to all who plan on holding through $10,000. I'll be out with my little piece of BTC this week and will feel fortunate to have sold something with a value of zero for $9,000+.
Bitcoin now is reaching $9.5k and still rising... :)
Es un universo muy interesante y desconocido para muchos hasta hoy. Gracias por compartir sus conocimientos sobre el tema de las criptomonedas.
gracias amigo :)
Great post! Thanks.
That Jamie photo is banging. I would love to see his face now.
LOL
Thanks for your thoughts;)
Proponents of the fractional reserve system can't stand the idea of Bitcoin!
https://steemit.com/bitcoin/@xsid/bitcoin-and-banks-the-fractional-reserve-system
i follow you. i upvote this post and also resteem. thanks.@elizahfhaye cryptocurrency is the future currency use for best and safe compare to the paper currency and this is best source of earning. your information is very nice thanks.
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This man should go to heal...