Jamie Dimon: Why Bitcoin WON'T WORK and "STUPID" Investors will PAY PRICE
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- Опубликовано: 11 янв 2021
- Clips filmed on Oct. 2017, Nov. 2017, and Nov. 2015 respectively. In this video, Jamie Dimon talks about why he thinks bitcoin should not be taken seriously and that its biggest problem is government regulation.
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Higher doesn't mean safety.
I agree with him.
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•
He knows how I feel about bit coin 😂😂😂
I bought 15K Bitcoin (actually, GBTC) three or four years ago. About eight months ago, it's value went to 22K so I sold off 7.5K, which cut my exposure to loss to 7K, leaving me with 15K value. Recently, the value once again went to 22K. I could sell off another 7.5K, which would bring my exposure to loss to zero, but instead I'm bequeathing it to my grandchild. I'll risk 7K on the chance it could make my grandchild a millionaire some day. You be the judge.
I bet this experienced billionaire banker will feel the wrath of those teenage, poor, asset-less btc lovers.
Is the WEF plan for a one world currency falls through, bitcoin will be the only way to prevent tyranny
Poor 😮
aged well
Lol and how is that?
Yes, yes it did.
One day you guys may understand what a 4 year cycle is. Maybe after the 20th pump you’ll go and have a second thought about why every 4 years bitcoin pumps
Because its deflationary and acts like precious metals?@SchwarzesEis
@@SchwarzesEis people have a short memory, I first heard of bitcoin at 3k so clearly it was dead at 16k and is dead now at 64k
Govt simply won't allow it as simple as that.
It's banned in my country 😢, we still own it
He keeps saying he has ‘no idea’ and ‘I don’t know’ but he also keeps saying with certainty that Bitcoin is dead in the water
My USD is backed by the entire tax base of the USA for eternity...and you bitties are backed by ?
@@chevinbarghest8453 scarcity. Security. Decentralisation. Private capital
@@Fantabiscuit ....Rocking horse dung is scarce too, and it isn't government and it is decentralized too.... I will stick with my USD and Euros
@@chevinbarghest8453 well your imaginary dung has no utility or a storage of private wealth. Btc is global. When China banned it, it recovered elsewhere on the planet. It’s hack proof. It cannot be corrupted
@@Fantabiscuit FACTS...it DOESNT WORK...its value is based soley on someone saying its worth something..the minute the investers leave & invest in a crypto that actually works & solves a problem you are all WRECKED !!!!! Its ANCIENT ANTIQUATED GARBAGE...the greatest PONZI SCHEME out there besides ETH...commit errors...suspect to a 51% hack...slow...EXPENSIVE...will never ever SCALE...controlled by china...ohhhh & its not on the new financial banking mandated system ISO20020 List...man i could go on & on...not enough available to be used as a currency which it was designed to be...it FAILED !!!!! Lets see you try & buy a coffee w it..cost you $40 in energy fees lol !! PROOF OF WORK IS GARBAGE it & eth will never be able to scale or compete w the iso20020 coins that are allready out there !! Why? because they dont work against the banks or govts !!
The lesson of Bitcoin is to always bet on stupid.
The first guy was talking bout those countries like Venezuela needing it. Why? Cuz of inflation… uhh someone wanna tell him what’s going on in the USA?
I agree
That blackrock's larry fink on his right is now advocating everywhere that Bitcoin is digital gold and the great store of value.
There will be a one world currency one day. And I'm thinking that everything we have will have to converted to it in order to be able to buy and sell. Is predicted!
It already exists. It's called the US Dollar.
Bitcoin and selective crypto currencies will definitely go up. It's not because they make sense but because institutions, mafias and business lobby needs a money transfer mechanism which cannot be traced to do money laundering and this is the only way!
The blockchain is trackable that's the point
@@jerejarvinen625 Exactly
Just commenting so you can revisit this comment.
You can look up the bitcoin blockchain for every, you see every transaction that has been made on the blockchain. You guys just have absolutely no clue what you are talking about. But yeah keep your fiat that gets worth less and less every year because they print as much money as they want. In the last 2 years over 40% of all dollars ever existed were printed. You just have no clue how they rob you. Sure that a banker likes that and doesnt like the software that will bring an end to their criminal activities.
It will go up and down as the big investor's see fit. Pump (so it grabs people's attention) and dump (to cash out).
Dad you shouldn't have.... I'm okay 👌 pietro dumped me anyways
At least Dimon is consistent. He'll sacrifice any morals and convictions to make money. In 08' he dumped MBSs on his clients to make money, he's been fined over 38 billion for fraud, and now he filed to be a custodian for Bitcoin with the man to his left.
Why don’t you look at the history of stocks
And 1928 crash
When talking about all the negatives of BTC he describes exactly what stocks were back then and probably are still now
More like commodity markets in the 1970s. If the Fed raises rates BTC will tank.
@@TheMantisShrimp Can you explain me why is it similar to the commodities market in the 70s? And what happened backed then?
@@tomasb3048 US dollar went to fixed to floating so a lot of assets moved into commodities because the dollar devalued. Then they raised interest rates, increasing the value on the dollar, which caused value of commodities to drop.
Stocks aren't worth anything either. You have to unload it. Greed prevents people from unloading because iT'S going tO gO uP. As long as it's locked in, it's worth nothing until you pull out and spend it. Name one person who wants to sell. - that's what makes it have zero value in the real world. Speculative worth isn't worth anything.
@@TheMantisShrimp COMMODITY ? HAHAHA To be a COMMODITY you have to have a USE....this thing doesnt FUNCTION ..it cost more to try & use it.....like heres $10 transaction....your fee = $40 WTH is wrong w people......only IDIOTS invest in this...only the RICH accredited investers can afford it & are making it worth anything..pump & dump ....like nobody knows the tech before they buy...they look at the markets like a dumbazz & assume its good tech...its a ponzi scheme of epic proportions !! I would never invest in something that doesnt work....its competetors DESTROY it....the public will catch on eventually !! its a certified SHITCOIN
How exactly is the government going to "ban" bitcoin? I mean drugs are illegal and banned. Is there no cocaine in the entire United states?
In order for a currency to truly be a currency, it must be universally accepted by everyone within a nation. It doesn't matter which form of currency we are talking about; dollars, bitcoin, euros, gold coins, rice corns or seashells. From mega corporations buying giant solar farms to a single grandmother going down to the store to buy a loaf of bread; in order for a currency to be a currency, _everyone_ must accept it for any kind of transaction.
This will become a very big problem for bitcoin if a government just straight up says that using bitcoin within their country is illegal, because now a huge percentage of the population will immediately refuse to use it. For example, the company buying solar farms or grandmother buying bread from before, neither of them would accept bitcoin for those transactions in fear of persecution. Assuming that nation’s fiat currency remains viable, that it has not been simply destroyed like the Venezuelan bolivar has for example, they would both revert back to fiat.
Yes, bitcoin will absolutely still be used in underground circles by criminals or people who just wants to stick it to the man, but on a nation-wide level, bitcoin would have been effectively rendered inviable as a true currency.
If the government bans Bitcoin it will go 📉📉📉📉📉📉
@@Ashadow700 Exactly. Outlawing its use would basically change bitcoin from being a currency to nothing more than the equivalent of a digital pet rock.
They'll start by forcing play store and app store to ban any apps helping ppl trade in bitcoins. And no company can legally accept bitcoin for anything. Then using heatmaps and power supply data to find and bust the mining rigs. There are hundred ways to enforce it and maybe some new way to use the blockchain itself to destroy bitcoin
@@Ashadow700 you cannot ban bitcoin, its a code, a sofware, and thats language and its not allowed to ban language
He was absolutely correct. Today, the 11th of June 2024, BITCOIN is crashing. Blockchain is great and being used, but ETH is king. BTC is doomed to die.
How this is aging...!😂
Crypto is like video poker.
😅😅 so many stupid people here it hilarious
Inorder to use btc like currency it must be stable. But it behave like a stocks , this is what ridicules me and unethical.
Oh boy oh boy,
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
I love you so much dad❤
Thank you. Crypto is like the Ca$h app scam. I put morevin. Then you do the same. Then other people do it to dtive the price up. Realistically crypto coins are worthless. The blockchain transaction technology is not the same thing. The tech is simply 256 Hash P2P Data Share.
J P Morgan???? Hmmmm....
So he trusts the USD? Lmao
But you use USD to buy bitcoin hahahhahah you Bitcoin bots are hilarious 😂
I trust the USD over Bitcoin lmao
@@kerrybuns5892 in germany you could buy houses with the mark in one year you couldnt even buy a bread with that same amount of mark
So
He leads JPM, what do you do?
When did he say he 'trusts the USD'?
Ofcourse you want fiat digital currency
Ultimately Bitcoin in the end inspired a government backed digital currency that arrives sooner and isn't inflationary at it's inception because everyone will demand value rather then quantity.
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
One of the smartest minds...but public just doesn't like bankers but this guy is a genius
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
He is not, he just has no clue about bitcoin or maybe he has and thats why he talks so much bullshit.
😂😂😂
He's not wrong.
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
He definitely is wrong though. He does not understand the basic principles of what money is. Portable, durable, divisible, etc. If he did he'd be balls deep by now.
Says a fake Account, he is sooo wrong
@@jackwatts5204yes the CEO of JP Morgan does not understand money 😂😂😂
Tech stocks propped up by non investors.
I have made a lot of money on Tesla and BTC and I never invested in my life. I knew that these kinds of tech are the future! Investing experts have been saying for the last ten years that BTC and Tesla will fail, bad investments etc. and yet here are all these tech nerds that know nothing about the markets ignoring the investing experts and making tons of money of these investments. Does that make someone like me a non-invester? I think it makes me a new kind of investor. A smart person knows what tech is the future without knowing anything about the markets. We are entering a new era that has never existed before. Traditional investors don't like change, but big change is coming!
@@doggydeeds I have made money too. Right now; TPR, GTLS, NMM.STFU.
@@9to5trader97 Our constitution is being destroyed by Democrats and this is what you offer? Get lost, moron.
@@bwoodward9564 this was a fraudulent account, it has been banned from commenting on channel
@@InvestorTalk Really?
Scammer says what?
most of countries dont look bitcoin like a money, but look like a shit actually, so dont waste ur time on something like that, and dont believe people who say his is getting rich by bitcoin
Oh, I love this, BTC is crashing soon hard. He was so right, USDT is done, delisted and that's the only value of BTC. Stupid investment because these diamond hand guys are so cultish about it.
No more arranged marriages please❤
These videos are old "Bitcoin $100bn maket cap" it's $610bn currently! Japan did make Bitcoin a legal tender on 1 April 2017 allowing savers to store their wealth in it to escape inflation. I predict US will do the same!
@Mr Brightside the relative value of btc will be higher and you will have preserved your buying power
@Mr Brightside I always entertain well framed arguments. I'm still waiting on yours sir...
@Mr Brightside Hey, let's keep the discussion civil alright?
Before addressing the specifics of value increase vs currency devaluation, is there a hedge that is a 100% guarantee?
@Mr Brightside
1. Fair enough it was snide. It was in response to your terse and patronizing "don't be gullible".
2. Gotcha. Yeah, I can't guarantee it. Based on my understanding of it, I do think it's worth making a reasonable bet towards. Not a huge percent of your portfolio.
3. Nice. I learned something. I'll check those out. I think the bitcoin design still is smart and worth investing in.
Although a lot of the early adoption of bitcoin was from illicit activity, that is changing.
Now the video is even older.
Let’s see what happens in the future. 30% Inflation ok the USD does not really seem so great on 3 years. I‘m betting on BTC. 21 mill
cap. decentralized, backed by physical energy… ect. Non of that backs Fiat. Post 2008 and 2023 I get a feeling that the dollars don’t look so good 🤣
Cryptocurrency is not practical.
Believe me, there are a lot of countries that would LOVE to stop the internet because they want to control the information. But it's just too big, they can't. It's going to be a bit the same with cryptocurrencies.
Dinosaur n salty
I'm glad you all hate bitcoin 😊, gives me hope
This is old
Does it matter how old it is the fundamentals remain the same
So you’re telling me you can track a cash transaction? Fiat currency was created before the technology of the internet… same with precious medals. Yet, cash is the peoples on means of working “under the table” ever heard of that? It’s untraceable… so this guy kinda sounds like a Moran lol. Drugs are criminal and illegal… we have that all over the world through CASH transactions “in case you haven’t noticed” 😂. poor fella. At the end of the day, he’s trying to protect his own pockets
Cryptocurrency is the dumbest thing I have ever heard of in my life
He duth protest too much.... (while the banksters secretly accumulate as much BTC and ETH as they can)
Is he righr?
Truth
This is going to age very badly
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
It hasn’t lol
I heard a whisper.....FTX...
lol its aging badly jp morgan is using crypto😂😂😂
@@IT_RUN1 Since when did Bitcoin become FTX?
AHAHAHAHA
This will not age well.
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
Sike!
@@coleycole5344 Sike back at you in the next Bitcoin halving!
@@pomp4401 If you knew the origins of Bitcoin, then you would not support it.
@@coleycole5344 If you know the origin of money and currency, you would support a free market money.
"Bitcoin is not propped up by authoritarians, therefore I reject it!" This guy really wears his severed balls on his sleeve.
$59K and climbing.
$64k and climbing
Yeah, so USD is King. People only talk about how much USD you can get for whatever their chosen coin is.
@@instanturbannews $32k and dropping
28k and tanking 😝
19k and still falling like an anvil. Ha ha suckers !!
Tell me Jamie, what gives the dollar value?
Government mandate?
That's failed 10 thousand times throughout history
Backed by the economy is better than backed by nothing.
My hooker takes dollars, you show me one which accepts BTC. That gives dollar the value.
The need to do transactions. As long as there is 1 standard to do transactions in (whether gold coins or sea shells or dollar), there is no need for other standards
@Greg Smith the belief that someone more stupider will buy it for more value
Lol, like btc can even begin to be more trustworthy than the dollar.
Ethereum is money
Dogecoin is next
Lets see you use it at the grocery & the gas pump
Crypto currencies should be banned completely.
Bitcoin is software and software is language, you cannot ban language.
Crypto is always a scam 🤣
he's scared of bitcoin
He is, but he doesnt even understand how brilliant bitcoin is and how it will change our world. We are still very early, the adoption rate is over 15% in the first ten years, that means the next 10 years we see an adoption rate from 10 to 90%, you can imagine how bitcoin will perform when it happens. Will be worth many millions 1 single bitcoin, feel free to come back to that comment kn 2029 and we will see how it turned out.
@@13hubi13 most of the world banks and big business are test piloting XRP/HBAR/HEDERA/XDC/XLM,
any tokens aligned with ripple, because it is safe, fast and efficient, cheaper and greener than bitcoin and ETH.
I don't hear banks and big business talking about using bitcoin or ETH as their main global tokens for the world, and that alone should worry bitcoin/ETH holders there are big issues with these tokens that would hurt banks in the long run,
it's too slow, transactions would take days depending on the amount being transferred and it will be expensive to use because the gas prices(taxes) will be high that's bad for everyone.
with XRP/HBAR/HEDERA/XDC/XLM using the ripple network instant transactions, billions even trillions in seconds, it's clean and green no gas taxes, it's perfect for everyone using crypto, it just pisses off black rock because they are heavy investors in bitcoin/ETH and know about this, they haven't developed a blockchain network as fast and efficient as ripple hence the hate and constant delays, and the failed SEC lawsuits they are afraid.
this is the only reason why i hate bitcoin/ETH, the biggest holders of these tokens are blackrock
to see them get angry and upset about ripple having a better more efficient system than there own is priceless, all the money in the world and still..
non-believer, boy was he wrong.
I bet thats what the guy who bought bitcoin at 15k value in december 2017 said when it went up to 19k.
I also bet he didn't boast about bitcoin from februari 2018 to november 2020.
I know its easy to pick my numbers from the past now. But there is always someone behind the trade that makes the current price. People bought this at 39k today with the only believe someone else will pay more tomorrow and this is still the same and only reason people bought it years ago. History has shown thats not always happening. The history will repeat. Just that noone can tell you when or at what price it will tumble back down. So i wish you good luck. Its all you need to trade btc.
@@senorjojo thanks for the comment. For an active trader the market has been great and i'm active in all markets. When it stops money will flow somwhere else. By the way I think BTC will climb higher 100K or more sometime in the future, might be 1, 5, 10 years from now.
@@theOneTheHunter don't you understand the internet? You are supposed to question my intelect and get into an endless discussion that has only losers in the end.
@@senorjojo I'm not your enemy i'm your friend, lol
@@theOneTheHunter Pure speculation. No tangible value.
A fraud which his company trust to support now. Check out his latest interview. This is too funny. Thx for the upload
Wh••=app••=+••=1••=7••=8••=1••=4••=3••=6••=0••=8••=4••=2•.
He sounds VERY BITTER.
Truth is always bitter!
The only people who talk shit about Bitcoin are those who, I think, are frustrated because they never got in early. According to this guy, Gold is no different by this logic - its value is determined by what others are willing to pay for it. The truth is - we will never know how it will turn out, predicting one or the other is as silly as a coin flip. Paypal, for instance, has already announced that it will start to offer bitcoin as a payment method soon. This only further cements Bitcoin's credibility.
Yeah that's probably true to some extent but ya know there are legitimate arguments against Bitcoin and other Crypto. Right now, it's not much different then gambling as far as I can see and my best friend is addicted as Hell to it. He don't shut up about the stuff and if you don't want to talk about it he doesn't want to talk to you. That's infuriating on a human level..it's just like bro you and everyone else aren't ALL gonna get rich. At the very least he diversified his portfolio so that's good. It's really only worth something as long as people think it's worth something..which I know is basically the case with the USD but the USD has government backing. You don't have to wonder
Or maybe they just see that the concept behind it is unrealistic. Are you planning to use cryptocurrency or just sell it for what we currently use?
Except, gold exists.
Companies like PayPal only do that for their users it doesn't really have anything to do with making bitcoin a more credible currency
I know exactly how its going to play out...its not controlled by the govt its DONE...its old tech & allready cannot ever compete with the tech out there ...it has so many flaws its laughable...its a PONZI SCHEME ...heck ya..if you got in early like any ponzi scheme you can make a killing...but you better know when to get out.....& the only other of those FRUSTRATED are the ones that know this is TRUE & that BITCOIN is on LIFE SUPPORT...XRP can run circles around that crap !! Bitcoin & Eth are junk & will never be on the ISO20020 banking mandate ..because they DONE WORK or SOLVE any PROBLEMS...investers been lied to for years about bitcoin lighting lol & eth 2....oh its comming...7 yrs later....oh mow its gunna be 6 more years & wont be any faster...sharding prevents either from doing anything.....but yall want the investers to wait for that crap when we allready have coins that actually WORK....transact in seconds & costs pennies...stop being so FOOLISH......these are .PONZI SCHEMEs & the all will go away !! They will perish !! If its PROOF of WORK its TOAST !! Govt is comming for you !!
Totally arrogant and ignorant to don't say an Idiot. He will swallow his words. Time will say
u right....time telling :D