Jamie Dimon Vs. Bitcoin - Keeping Score

Keeping Score...

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Yesterday during JPMorgan's earnings call, CEO Jamie Dimon relayed the following...

"I wouldn’t put this high in the category of important things in the world, but I’m not going to talk about bitcoin anymore."

It seems 'anymore' to Dimon means 'less than 24 hours' as during a panel at an IIF event today, the outspoken bank boss - apparently still feeling threatened by the disruptive technology - lashed out again at the cryptocurrency...

  • *DIMON: PEOPLE WHO PURCHASE BITCOIN ARE STUPID
  • *DIMON: "WHO CARES ABOUT BITCOIN?"
  • *DIMON: I DON'T UNDERSTAND THE VALUE OF SOMETHING WITHOUT VALUE
  • *DIMON: I COULD CARE LESS ABOUT BITCOIN
  • *DIMON: BITCOIN IS `A GREAT PRODUCT' IF YOU ARE A CRIMINAL'

And then he ended with another promise...

  • *DIMON: THIS IS THE LAST TIME I TALK ABOUT BITCOIN

We wonder how long that will last.

Image courtesy of CoinTelegraph

And then Larry Fink piped in...

*FINK: BITCOIN IS AN INDEX TO MONEY LAUNDERING

We have to say for 'something' that is not worth talking about and he "couldn't care less about," the big status-quo-sustaining banking elite sure do talk about Bitcoin a lot!!

Perhaps this is why...

And even more upsetting for the 'master of the universe' is that his words had zero effect as Bitcoin is now immune to bankers' bleating...

Comments

IH8OBAMA hestroy Fri, 10/13/2017 - 14:43 Permalink

I think I would revise Dimon's comment to read, "People who HOLD Bitcoin are stupid."  It's OK to trade for spurts but holding Bitcon for long periods is a fools game.Bitcon's value is only what the next fool is willing to pay for this worthless asset until the market runs out of fools.  So far, so good but.....I can't wait until Donald Trump starts talking about Bitcon.  We all know what he is going to say when he starts talking about it.  Ha ha ha ha.

In reply to by hestroy

AllBentOutOfShape Pinto Currency Fri, 10/13/2017 - 16:02 Permalink

Not a fad, but a banker scam is what it it.https://np.reddit.com/r/btc/comments/743qb8/is_segwit2x_the_real_banker…

  • DCG's Board of Directors and Advisors is almost entirely made up of Central Bankers including one currently sitting Member of the Federal Reserve Bank of New York and another who was Chief Economist at the World Bank.
  • The CEO of the company spearheading the Segwit2x movement (Barry Silbert) is an ex investment banker at Houlihan Lokey. Also, Mastercard is an investor in the company DCG, which Barry Silbert is the CEO of.
  • The company overseeing development on Segwit2x, Bitgo, has a product/service that seems to only have utility if transacting on chain and using 0-Conf is inefficient or unreliable.
  • Segwit2x takes power over Bitcoin development from core, but then literally gives it to central bankers and Mastercard. If segwit2x goes through, BTC development will quite literally be controlled by central bankers and a currently serving member of the Federal Reserve Bank of New York.

In reply to by Pinto Currency

maxblockm IH8OBAMA Sat, 10/14/2017 - 01:54 Permalink

"People who HOLD Bitcoin are stupid." That is mostly correct.The ones that HODL know what's really going on.Even if it were a bubble, and the market were to run out of fools, before then, if Donald Trump starts talking about BTC, hello $20-100k.But as far as the supposed bubble, learn about the S-curve of technological adaption.

In reply to by IH8OBAMA

covfefe MICdotard tmosley Fri, 10/13/2017 - 17:02 Permalink

hence ~ the 'arrogant blowhard' tag (someone who presumes to aggregate [his own] opinion & thrust it forward as if doctrine). Thx 4 the confirmation As of this timestamp, you're 32 comments DEEP (comments you published), on a thread that has only been open for 55 minutes, (just trying to prove to yourself & everyone that you're right). BITCOIN is your personal prison Papillon FFS ~ I'd be shopping 4 islands (especially ones with deaf seagulls flying around, so if you were stupid enough to bring your bandstand there, you wouldn't end up like Tippi Hedren).

In reply to by tmosley

covfefe MICdotard tmosley Fri, 10/13/2017 - 17:22 Permalink

You abuse everybody & all the time, & on practically every thread. Nobody likes you. The seagulls that come to your private island are probably gonna gang up just to use you as target practice. I hope you don't act the same way in face to face relationships in the real world. I doubt you do, because by now, odds are that somebody would have probably beat the shit out of you. So the question is, why do you bring that game here? Behind your cyberwall? Only cowards act that way.  

In reply to by tmosley

bwh1214 covfefe MICdotard Fri, 10/13/2017 - 18:17 Permalink

covfefe, Funny, you say no one likes him, but you are getting down voted and he is getting up votes.  I have watched over the years as pro bitcoin has slowly started to outnumber those who are against it, and for good reason.  No one has ever said crypto should be the bedrock of a portfolio from the begining, only that some allocation makes sense, and those who have acted on that common sense approach have been rewarded.  Those who can't admit they may have made a mistake are being severly punished. Oh well good luck.  

In reply to by covfefe MICdotard

covfefe MICdotard bwh1214 Fri, 10/13/2017 - 21:51 Permalink

I'm getting downvoted because mosley is the pied piper of bitcoin and the odds are that 80% of the users that come to these threads that bitcoin is the subject are the bitcoiners. Band of Brothers so to speak. I'd also speculate that because of his obnoxious nature, mosley, many other users patently avoid trying to mix it up in any conversation where mosley is present (because it's usually not worth the time & hassle). I mentioned before that in 55 minutes, mosley had already pumped 32 comments into this thread. Think about that one for a minute, It's about a comment every 90 seconds. & they weren't all replies to the same person. That was hours ago, & I haven't bothered to look at the final count. About the downvotes. Ha! That can be expected, when you get mosley, & Raffie, and a few others going, thats always what you get. None of these automatons does much thinking or soul searching. They act as if every downvote is gonna make the price of bitcoin rise higher. What's worse is that it's not only on these bitcoin threads. Once you get on their shit list, they'll hunt you down on other threads not related to bitcoin at all and just junk your comment for no reason without leaving a comment themselves. My theory (now vs. 2012 when it was just fonestar), is that that most of the bitcoin touts on this site are very young. Many probably still in their teens. That probably has a lot to do with the tail end of what I was saying in the last paragraph. These 'types' are a product of social media. Some may pretend to diss it or pretend to not be involved, but let's be honest. How many 16-24 year olds do you know that don't have a cell phone, or have been involved with social media for most of their lives. Think about that one. If you're, say, 21, you were 10 years old when the first iPhone came out and probably begged your parents to buy you one. I had the first iPhone (none thereafter), but I remember I was like a hero to my 10 year old niece at the time. Anyway, if that's your profile, then you've been into the 'LIKE ME', 'SELFIE', 'TWITTER', 'INSTAGRAM', 'SNAPCHAT',  or whatever for more than half your life. Anyway ~ My point there is to profile these 'types' and how they've been conditioned to behave. They're always hiding behind walls (so, common courtesy never became anything they learned or applied). If, say, 4 friends, were all in a bar together, it would probably be the typical scenario where each of the 4 was sitting at a table and they were all into their fones. As for the bitcoiners, since most of them are probably technically saavy. How the hell else do you think they washed up on the shores, eventually, of ZH? At some point, they were probably searching for bitcoin material on the web and stumbled on ZH, then got themselves usernames. mosley is the pied piper because he predates the 'Raffies' of the world. mosley was around here (& TFMetals) touting silver while half the rest of these geek squadders were still getting stuffed in their lockers by the varsity. Anyway ~ my main point with all of that is to say that mosley is rude & obnoxious. Notwithstanding, Raffie & company seem content to tolerate that if, for no other reason, than it might be bad voodoo to rock the boat. That kind of stuff happens to everyone in a CASINO. Have you ever been at a raucous craps table in Caesars Palace or any other large big casino? That experience will tell you anything you need to know. When there are a lot of chips on the table, you'd better not walk in and dump a lot of chips on the DON'T PASS line. But even if you do, even the people at the table are more courteous and any of these online gigs. Your other points I have watched over the years as pro bitcoin has slowly started to out number those who are against it, and for good reason.  I haven't noticed that at all. To a small degree, & mostly on ZH, yes, & especially on these threads. What the hell else would you expect? But in aggregate, it's a biased POV which is wholly dependent on exactly where you are at any given moment. If you don't believe me, go to a college football game tomorrow and try telling all the fans around you that you've 'noticed' that the football viewership interest is down (you'll get a lot of strange looks). In my RL, I still don't know anyone who owns any bitcoins, and more than half have either never heard of it, or have heard the word, but think it's just one of those 'tecchie' things. I know someone who makes 6 figures a year coding for cybersecurity and she doesn't even own any. No one has ever said crypto should be the bedrock of a portfolio from the begining, only that some allocation makes sense. Who says it makes sense? You? Try selling that concept to the OVER 62 crowd who are just trying to live comfortably with what they've accrued. It makes no sense whatsoever even to have 'some' allocation that 40% price swings in a matter of 2 weeks. & therein lies the problem where 20 year old bitcoin owners have no concept whatsoever what it's like to be 62 and those who have acted on that common sense approach have been rewarded. Did you say 'common sense'? You didn't say common sense did you? Those who SPECULATED got LUCKY (you can use the word 'rewarded' if you want, but it's more accurate to use 'speculate' and 'lucky'. 'Common sense' & Reward are reserved for those who sock away 6 months of food supply, maybe a shotgun, candles, etc. and then some unusual event occurs. Those who can't admit they may have made a mistake are being severly punished. I asked my grandmother if she thought she was being punished for not buying any bitcoin. She said "What's bitcoin". So I told her, then asked her again. She just laughed   

In reply to by bwh1214

tmosley covfefe MICdotard Fri, 10/13/2017 - 19:48 Permalink

I give what I get times ten. If you are respectful to me, I will be respectful to you. Remember our first interaction, when you were asking seemingly genuine questions about bitcoin and crypto? I answered you politely. But then you started acting like a little shit, like a 60 Minutes reporter interveiwing Cernovich or something, and that was it. Demolition mode.

In reply to by covfefe MICdotard

covfefe MICdotard tmosley Fri, 10/13/2017 - 21:57 Permalink

That's not what happened at all. I asked you questions, and when my questions had any degree of detail in them (like my reply above), you got irritated and started being a smart ass like you usually are 24/7 IOW ~ Your 'patience' in trying to exist outside of your 'smart ass' bubble lasted less than 5 minutes and quickly defaulted back to the ADD state of mind.  

In reply to by tmosley