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Old 01-09-2018, 11:30 AM
 
Location: Los Angeles (Native)
25,303 posts, read 21,468,776 times
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So news is out today that Jamie Dimon , CEO of Chase Bank has backtracked on his negative comments about Bitcoin/Crypto.

Many people listen to 'experts' like Dimon as he's one of the top CEOs in America and has worked with government ,etc.

Do you imagine this having a significant impact on the market?
Clearly the current crypto market doesn't need Dimon to like them..but still.

"
  • J.P. Morgan Chase CEO said he regrets calling bitcoin a fraud.
  • "The blockchain is real," Dimon tells Fox Business.
  • Dimon remains concerned about how "governments are going to feel about bitcoin when it gets really big."


"


https://www.cnbc.com/2018/01/09/jami...n-a-fraud.html
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Old 01-09-2018, 11:33 AM
 
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That means it will probably crash soon, lol.
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Old 01-09-2018, 11:37 AM
 
1,715 posts, read 2,299,081 times
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If you cant fight them join them.
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Old 01-09-2018, 11:37 AM
 
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Chart on BTC looking pretty ugly right now.
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Old 01-09-2018, 12:04 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,468,776 times
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Quote:
Originally Posted by Jobster View Post
Chart on BTC looking pretty ugly right now.
Yeah. I don't know if i'll buy any bitcoin. I like Ether better. Most of the crypto companies are based on ethereum .
I bought some at $700 around Christmas eve ..and now it's like $1220 today..but didn't buy much.

The thing is you need ETH to buy other alt coins usually..so you end up spending it up anyways.

I hear predictions of bitcoin going to 100k, 500k stuff like that..who knows maybe..but seems the opportunity isn't in bitcoin today.
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Old 01-09-2018, 12:05 PM
 
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I don’t think he had issue with the technology from the start when he called bitcoin a fraud
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Old 01-09-2018, 12:14 PM
 
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Quote:
Originally Posted by Lowexpectations View Post
I don’t think he had issue with the technology from the start when he called bitcoin a fraud
Based on interviews I've seen, he didn't. I think his comments have been taken out of context to a certain extent.

JPM is already working on their own blockchain technology and have been for some time.
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Old 01-09-2018, 12:19 PM
 
3,271 posts, read 2,190,026 times
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Quote:
Originally Posted by jm1982 View Post
Yeah. I don't know if i'll buy any bitcoin. I like Ether better. Most of the crypto companies are based on ethereum .
I bought some at $700 around Christmas eve ..and now it's like $1220 today..but didn't buy much.

The thing is you need ETH to buy other alt coins usually..so you end up spending it up anyways.

I hear predictions of bitcoin going to 100k, 500k stuff like that..who knows maybe..but seems the opportunity isn't in bitcoin today.
Eth has been rising in the past few days, but unless there is now some sort of divergence, it has shown at times to be highly correlated with BTC, particularly when it is on a clear downtrend.

I would just be cautious for the moment. That's all I'm saying. There is a little too much FOMO right now in my opinion.

You can see it in the irrational evaluations of some of these projects where the tokens don't even serve any use case.

99% of these projects will probably fail in my opinion. If you're comfortable trading in this type of environment, jump right in, but just know that there will be a lot of volatility.

Last edited by Jobster; 01-09-2018 at 12:32 PM..
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Old 01-09-2018, 12:20 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,468,776 times
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Quote:
Originally Posted by Jobster View Post
Based on interviews I've seen, he didn't. I think his comments have been taken out of context to a certain extent.

JPM is already working on their own blockchain technology and have been for some time.
Well it is coming from media and we know how they like to twist things. The headline I used for post was from the article.

I know a lot of the big banks are working on their own blockchain tech like you said.

Of course Dimon wouldn't want the 'competition' ,since bitcoin and crypto is decentralized I could see it being threatening to them.
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Old 01-09-2018, 12:54 PM
 
Location: All Over
4,003 posts, read 6,102,242 times
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Quote:
Originally Posted by jm1982 View Post
Yeah. I don't know if i'll buy any bitcoin. I like Ether better. Most of the crypto companies are based on ethereum .
I bought some at $700 around Christmas eve ..and now it's like $1220 today..but didn't buy much.

The thing is you need ETH to buy other alt coins usually..so you end up spending it up anyways.

I hear predictions of bitcoin going to 100k, 500k stuff like that..who knows maybe..but seems the opportunity isn't in bitcoin today.
Ethereum isn't as scarce as Bitcoin ie higher supply however it's much more usable ie faster and cheaper fees plus you can do smart contracts and build Dapps on top of it. I just bought myself 3 crypto kitties last night.
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