Skip to comments.Dimon Disses Bitcoin, and Bitcoiners Diss Back
Posted on 01/24/2014 7:42:26 AM PST by Errant
Jamie Dimon isnt very impressed by bitcoin. Bitcoiners, in turn, dont appear terribly impressed by Jamie Dimon.
The virtual currency, which a year ago at this time was known only by a small band of enthusiastic libertarians, techies, and alleged drug traffickers, has gotten so much larger in the intervening time that it gets talked about at the big Capitalismpalooza called the World Economic Forum at Davos. That in itself is interesting.
But J.P. Morgan'sJPM -1.35% Jamie Dimon and U.S. Treasury Secretary Jacob Lew were both asked their opinions and both talked it down, and both harped on its use in drug trafficking. The reaction from bitcoiners was just as dismissive.
(Excerpt) Read more at blogs.wsj.com ...
The point that drug traffickers might use bitcoin is not a fatal charge. The US dollar is the single most widespread currency in the drug trade.
"Earlier this week we reported that at JPMorgan, the many will pay for the crimes of the few, after the bank revealed that compensation for most workers would be flat with 2012, and no raises were planned for the bank's employees as a result of the massive, $20+ billion legal bill the bank has raked up in recent months as one after another market manipulation, fraud and malfeasance by current and former JPM workers has been revealed. One person, however, will be exempt from this blanket punishment: the firm's CEO Jamie Dimon, of course. Because there is always a reason Jamie is richer than you..."
Holy Crap..20 BILLION in legal fee’s???
It's amazing to me just how stupid people in this world really are...
It is exciting to be at the very birth of the undoing of the global elites. Bitcoin may not be the vehicle, but there is no stopping the decentralization of monetary power in the future.
Boy do I ever hope you are right - for the sake of humanity. It will be tumultuous times though, to say the least.
Bitcoin No Bargain as 47% of Investors Go Bearish in Poll
But can you roll a Bitcoin into a straw to snort coke?
Precisely. If the mere fact that a currency is used by drug dealers is the issue the US dollar should be stripped of its reserve currency status for that reason alone.
“Capitalismpalooza called the World Economic Forum at Davos.”
More like elitismpalooza.
Do me the favor of not posting your same old outdated harassment garbage to me, please. Matter of fact, since you never have anything of value to add and only waste bandwidth with your tired graphics, please don’t post to me again period!
Stop posting your self serving hype. Frauds are bad, dontcha know?
Despite your arrogant and baseless assumptions, there are many on FR who are keenly interested it the latest Bitcoin/Cryptocurrency developments. If you are offended by that, then I suggest you spend your time on threads that are more appealing to your self-centered ideology. You’ve crossed the line into nothing more than harassment with bandwidth robbing tired graphics, adding nothing of value to any of our discussions.
You got a problem with tulips?
Nobody’s forcing you to buy bitcoin. They are, though, forcing you to buy half your income of things for other people.
Fraud is bad.
The volatility has declined as adoption has spread, and will continue to do so.
Services like bitpay perform daily clearing into the local fiat currency of your choice if you’re concerned about volatility.
Lastly, do you have a graph for the purchasing power of USD over the last 100 years (since the institution of the Federal Reserve)?
That will be the most pertinent comparison moving forward.
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