JP Morgan CEO calls Bitcoin a fraud and why that's good for us
Brilliant piece on the recent statement by Jamie Dimon. Shared from a FB group
After reading an article today about what Jamie Dimon (CEO of JP Morgan) said about BTC, it got me thinking...
Just so you know, Jamie Dimon was working in Futures and Options (F&O) in JP Morgan when there were just three people in the whole department globally. If he and others adopted the mindset that he has shown about BTC, F&O wouldn't be the multi-trillion dollar market it is today. His statement today was nothing short of a deflection from his company's slump in Q3 Trading turnover.
Now I will give an example: In the U.S 2016 Election campaign, so many analysts, financial and tech "gurus" including Mark Cuban and the media said that if Trump became President the Stock Market would crash. Now if you listened to them (THE NOISE) and shorted the Dow, you would have lost a ton of money. However, if you just "BLOCKED OUT THE NOISE", and looked PURELY at the fundamentals of Trump's economic policy, mainly Tax Reform and De-regulation, you would have seen that these two policies alone would have an incredibly strong positive impact on the markets.
You see from now on in, the noise is going to get more constant and a lot worse. Why? Because the crypto market is eating into the profits of every financial institution and government and they are running scared. They can see HOW sensitive the investors in the crypto market are because every-time there is a sniffle of a story we see un-precendented sell-offs. Hence why they are going to publish more stories and reel of more negative soundbites to try and suppress and kill the market off. And I am worried they could achieve this aim if they continue to see this kind of reaction in the crypto market every-time one of these whack-job stories comes out.
For Crypto's to succeed the market needs to succeed. And honestly the only way that can happen is for us to spread the message to "BLOCK OUT THE NOISE" to every crypto investor we speak to and just focus solely on the fundamentals. The strength of Crypto is the Tech and they can't mess with that.
So if you TRULY want to see any crypto succeed I would argue promoting this message is even more important than just promoting the coin itself.
https://www.coindesk.com/jamie-dimon-bitcoin-fraud/
We all know Bitcoin is here to stay, but we need to make sure we fight back against these people who have everything to lose when it comes to cryptocurrencies. Individually we can do nothing, but together we are a force that no world bank can topple. Ignore the fear-mongering and focus on what's happening, that crypto's are changing the world! You don't lose sight of that and everything will be fine.
"Because the crypto market is eating into the profits of every financial institution and government and they are running scared." You hit the nail on the head with this statement. Big business and Big Brother is taking notice now because people are slowiy but surely catching on, and crypto is beginning to impact their bottom line and controls. The negative statements of corporate idiots are intended to frighten and dissuade citizens.
Frighten and dissuade people they will at first, but there is a grand awakening coming as more and more people become fed up with how much of a bar-less prison cell the banks are to society. There could be a few more dips in the future yet as more bankers come out and shoot arrows at crypto, but that just gives us more opportunity to buy in while it's low and reap even bigger profits when it shatters their glass ceiling.