Morgan Stanley CEO Rejects Dimon: "Bitcoin Is Certainly More Than A Fad"

Two weeks after JPMorgan CEO Jamie Dimon's now infamous "Bitcoin is a fraud" comments, Morgan Stanley CEO James Gorman told The Wall Street Journal today that Dimon is wrong and "Bitcoin is certainly more than a fad... the concept of an anonymous currency is an interesting concept."

Gorman added that Bitcoin faces questions over regulation and entry barriers... "There is a government risk to it... I don't think it should be illegal."

 

Full WSJ interview with Gorman below... (forward to 57:00 for bitcoin discussion)

Comments

FreeShitter Wed, 09/27/2017 - 09:33 Permalink

Demon bought the 3k dip, he knows what we know......its unstoppable. Decentralized exchanges, atomic swaps, smart contracts, no coiners bitching 24/7/365? Thats a fucking win no matter how you cut it.

runningman18 bwh1214 Wed, 09/27/2017 - 09:41 Permalink

"Bitcoin is certainly more than a fad... the concept of an anonymous currency is an interesting concept."Except, Bitcoin is not anonymous.  Never has been and never will be.  The banksters seek to perpetuate the original "anonymity" lie of cryptocurrencies because they are heavily invested in blockchain technology for their one world currency schemes.  

In reply to by bwh1214

UndergroundPost tmosley Wed, 09/27/2017 - 10:29 Permalink

Bitcoin...Shitcoin. I was in a Safeway last week for a gallon of milk, a couple pounds of ground beef and some toilet cleaner (no, not to clean up after taking a monster shitcoin dump - that will come later). I asked the cashier,  "Can pay in Shitcoin?" No, she said. "How about any Clepto-currency?" Again she replied in the negative giving me that look - you know, the kind pushy customers give you when you're holding up a line. "Ok, thanks" I said as I remembered that I had a bunch of tulips at home - maybe Safeway will take those.

In reply to by tmosley

Kotzbomber747 UndergroundPost Wed, 09/27/2017 - 11:55 Permalink

No, you paid with Dollars, but then a Dollar equivalent amount was subtracted from your Gold & Silver holdings at your GoldMoney account.SafeWay never got any Gold or Silver from you, but they received very normal everyday fiat Dollars instead.p.s. I'm not at all convinced of BTC either, and I think all the advantages (de-centralized) could also easily be fulfilled by Gold. The enormous advantage precious metals have is that they are tangible and will always have some sort of intrinsic value, something any crypto-currency lacks IMHO.

In reply to by UndergroundPost

runningman18 tmosley Wed, 09/27/2017 - 11:03 Permalink

He knows exactly what he is doing - continuing the kabuki theater around cryptocurrencies and pretending as if there is a "conflict" over their viability all while the banks are investing billions getting ready to use blockchain technology to centralize everything.   A cashless society is what the cabal wants and bitcoin is merely the beta-test.  

In reply to by tmosley

adr Bunga Bunga Wed, 09/27/2017 - 13:12 Permalink

Yeah it's a meritocracy where 5% control the vast majority of the supply, just like dollars. If you hold 100 shares of Apple, do you have any power in their organization? Based on the concept of stock ownership you do, but when one person owns billions of dollars worth, you don't count. Let's say that you want to change Bitcoin. You can if you want, but your version will fork from the rest, and good luck getting anyone else to follow. Bitcoin is exactly the same as the Rothschild banking empire, just in a different name and form. The Rothschilds extract something from every currency they create, those who control the Blockchain do the same. As far as we know the Rothschilds may control the crypto market. 

In reply to by Bunga Bunga

Bunga Bunga adr Wed, 09/27/2017 - 15:01 Permalink

But based on ability, skills, knowledge, diligence and not on power, connections, secrets, monopolies, corruption aso.To think that all people should own the same, is an illusion, it will never work. It's also called Communism and has failed so many times. Everyone can take part in the cryptorevolution, it's all based on free knowledge.

In reply to by adr

Golden Phoenix adr Wed, 09/27/2017 - 18:37 Permalink

>I did not buy or mine my own bitcoin when it was a fraction of a cent. People who did are evil and should be punished. When I make a mistake like not buying Apple I don't correct it, I seek revenge on those who did. Join me at HuffPo where we rail against 'the man' while accomplishing jack shit.No thanks. 

In reply to by adr

HRClinton runningman18 Wed, 09/27/2017 - 13:33 Permalink

Unless the CIA and NSA are burning a candle for YOU, it's damn anonymous enough.What's far more likely going on, is that these Banksters are seeking a Tactical Advantage, by getting into the mix.E.g. If they get involved, then sooner or later their attack dogs (FBI and IRS) get to "Tag, Track and Try" specific Perps, by tracking the pathways of the BTC that the banks sold.  By making an example of them, they send a clear message to Tax Evaders. IOW... a PsyOp program meets Forensic Law and Tax Enforcement process. (((They))) won't let you leave their Fiat Ponzi Casino.Of course this applies only to US SUBJECTS (Citizens and Lawful Residents). TROTW (The rest of the world) won't care, and will go on.

In reply to by runningman18

Son of Captain Nemo Wed, 09/27/2017 - 09:24 Permalink

I get it. It's THE GREATEST SHOW ON EARTH!

The only thing missing are the costumes and the exotic animals...

Just like Democrats and Republicans on the same Team playin "good" cop "bad" cop for the American lemmings!

tmosley AlexCharting Wed, 09/27/2017 - 09:46 Permalink

You have that backwards. It is the low liquidity that causes the volatility. As it sees greater and greater adoption, the amount of liquidity will increase while the volatility will decrease. The last "crash" was a testament to that fact. Previous crashes had it falling 90+%. This time, it only fell 40% from the high. Difference between 0.01% adoption 0.1% adoption.The sour grapes around here will only pucker more and more as that adoption rate finally approaches 100% over the next decade.

In reply to by AlexCharting

Exponere Mendaces Wed, 09/27/2017 - 09:27 Permalink

LOL, the ZH nutters won't know what to think about this one.Meanwhile, I'm happy with Bitcoin hitting 4k on the way to 5k and beyond.Hey, how's gold doing?$1,283 -- how embarrassing. We're on the brink of slapping North Korea in the chops, and gold can't even manage to get its flaccid metal cock to $1,500?Too funny.