JP Morgan Coin Isn't an Attack on Bitcoin... It's An Attack On???

JP Morgan just announced the creation of JPM Coin, a "digital coin designed to make instantaneous payments using blockchain technology". Naturally, people are freaking out (myself included) over the announcement. But looking at it objectively, what does it mean for cryptocurrency, Bitcoin, Ethereum and Ripple?

Read the official announcement: "J.P. Morgan Creates Digital Coin for Payments" https://www.jpmorgan.com/global/news/digital-coin-payments

** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.**