When Banksters FOMO they launch their own shitcoin?
It seems to be that way.
After all JP Morgan CEO said that he doesn't give a shit about Bitcoin and now JP Morgan is here with their highly centralised 'JPMCoin.' Can he be anymore of a hypocrite than he's proven himself to be already?
“Bitcoin will not survive.”
"Bitcoin is going nowhere."
“Bitcoin is a fraud.”
Those are all quotes from Jamie Dimon, CEO of J.P. Morgan, said in separate appearances or interviews since 2015. Today, he announced J.P. Morgan's own blockchain-based currency, JPM Coin, making it the first major bank to issue a coin. -Marketwatch.
These Banksters sure change sides quickly? From writing off cryptocurrencies to creating their own shitcoin didn't take long!
According to Angellist
On the surface, Dimon's sudden bet on cryptocurrency seems like a giant reversal. If you look closer, however, you'll see that JPM Coin is philosophically in lockstep with Dimon's critique of Bitcoin—and may offer a glimpse into blockchain's near-future in finance.
JPM Coin functions very similarly to a #stablecoin, a coin that, while powered by blockchain, is tied to an asset like the dollar. Instead of existing independently from state-backed currency, every JPM Coin converts to one U.S. dollar, effectively eliminating the sudden value swings of other cryptocurrencies.
The value proposition of JPM Coin, unlike Bitcoin, isn't rooted in anonymity. JPM Coins real value, at this point, is speed. As Umar Farooq, J.P. Morgan's head of blockchain initiatives, explained to CNBC, the most immediate application for JPM Coin is in international payments. When investors deposit money with J.P. Morgan, they can elect to be issued JPM Coins, which allow them to conduct transactions around the world quickly—no more waiting on wire transfers.
Funny moment in history because it's the first American bank to launch their own cryptocurrency. Let's see where this goes from here.
But one thing is for sure you can't trust any investment bank or their CEOs out there. Look at the irony in this situation!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Why You Should Vote For Firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #65
Same here ...I also doesn't give a shit about JP Morgan.
AH :))) ...Sam bank is in the same game there in USA when they have.... 22-23 Trillion in debt :)))) HOW YOU CAN BUY OR MAKE THIS COIN WHEN THEY ARE BANKRUPT ????? Can some one tell me how ????
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This guy is SUCH a hypocrite. I saw this headline yesterday in the news and had to laugh. The banksters are just clamoring to figure out how to capitalize on blockchain but I don't think a centralized coin pegged to the USD will do it for them.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
So true! I forgot to write he's a freakin hypocrite in the post so thanks for mentioning that. Can't believe such morons run banks that control billions of dollars of investor funds.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha, my pleasure. I bet Chase was developing this coin the entire time he was crashing the market in 2018 with his FUD in the media. The big banks are SO used to having all the control and power I don't think they took cryptocurrency seriously until that epic late 2017/early 2018 bull run. I can almost bet Chase Bank was acquiring stacks of BTC as well each time Dimon suppressed BTC prices with his negative remarks.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah. They can't fathom some decentralised entity taking away all their powers. I'm hoping this will propel others to move in this direction. Not because we need centralised bankster shitcoins but it will get the word out that cryptocurrencies are here to stay and make it the new business as usual. Certain Banks in India also added to the FUD by suspending customer accounts. These things have to change and hopefully a rebound in prices will improve investor sentiments again bringing more users to the world of Bitcoin and decentralised cryptos.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
They are the reason that investors are loosing money.... always creative negative impacts....
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very true words ... "They are the reason that investors are loosing money"
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Right buddy...wish to see a bull run soon....
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Same ....and I think in this coin market we all want see it :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yup buddy just waiting for over a year so that market can go up ....
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
So far what info I have find ... then low times are 2 years and then all start go up... so this year is the last low year . But we see ,here can happen fast lot ... it can be next month when it all go up back.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Some of the greatest investors in the world are still against crypto currencies. But I guess these guys will gradually step inside the crypto world.
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If they step in this new Crypto world ... I think then we also soon start see very epic criticism of how everything is bad here, and they start say that they must have to regulate it all and they are only ones who can do it. Which leads to a very tragic ending for themselves. All banks not just JP Morgan :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
And it will no longer be decentralized. 😁😊
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
But it is not a problem because all of them are bankrupt... All USA banks... All Europe Banks And Japan Banks... jne... Soon you see, They simply can not print all of this money further.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
A slap in the face to Ripple JPM coin is. Check out thia video of I buying bitcoin at a coinstar machine in Idaho.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I've been saying to non crypto friends for a while when I get that 'long look and shake of the head' moment, "the powers that be will either get on board with Blockchain tech... Or try and appropriate it."
My biggest worry is that mainstream people won't educate themselves to the freedom they can find through using BTC and other 'real' cryptocurrencies. I worry that business especially will see the likes of JPM shitcoin as somehow more secure.
Only time will tell what's gonna happen with this development.
Posted using Partiko Android
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
nvestor education is a long and continuous process. Most people atleast know there is more to investing (stocks etc) than saving in a fixed deposit account, buying gold or real estate in current times. Hopefully in the years to come there will be greater liquidity and stability in prices bringing more mainstream users onboard to cryptocurrencies instead of a handful of users.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
He is really a Shakuni type guy telling Bitcoin is not a good investment in 2016 and cryptocurrencies are balloon. And look today he take an U-turn.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hahaha well said! :D
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha this is crazy. I remember when they were saying how it will all fail and the bubble will burst etc! Well, to be honest, the bubble did burst a year ago, but now we can see it will all build back up, bigger than ever!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Would be good to see BTC work itself up towards 5K for starters. :) I'm positive it will happen sometime in this year.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
So....is anyone going to audit JPM to show that their coin is pegged to the USD or are we just going to have to trust them on it? (lol)
This opens the door to fraud and corruption which is everything a bank stands for nowadays.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is good PR for crypto World 🌎 the rest of the World will know Cryptocurrency is real deal .It should get more people interested or newbies . A lot people still think it’s a scam . Once they hear JPMORGAN has a coin then I guess they will be ok . Any of us , we know it’s probably not decentralized.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit