Jamie Dimon: "I Regret Calling Bitcoin A Fraud" - Excuse Me While I Laugh For 5 Uninterrupted Minutes, Thank You

in bitcoin •  7 months ago

Financial Times just revealed one of the most interesting comments in the history of the crypto world.

The comment belongs to Jamie Dimon, a well-known figure amongst crypto aficionados, specifically for the harsh comments he made last year, when he called Bitcoin "a fraud" on national television. Days later, a few people found out that JPMorgan Chase, to which Dimon still serves as a CEO, bought the dip formed as a result of that statement.

But, according to news cited above, Dimon softened his comments, declaring that he "regrets calling Bitcoin a fraud". Even more, according to the same source:

However, he said that blockchain, the ledger system that powers bitcoin and is also being used by an increasing number of companies for record keeping, “is real”.

Oh, te joy of seeing the light emerging in other people minds! Oh, the epiphany! The unforgettable "a-ha" moment when you realize something is "real"...

In September 2017, Bitcoin traded around $4k. After Dimon's statements, it rose almost 4 times, reaching $20k.

Now, what to do with this public remorse? Should we expect Bitcoin to rise 4x again, to $60k?

I'll try to figure that out after I stop laughing.

I think it will take me at least 5 minutes of uninterrupted, healthy and unapologetic laughter.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

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Definitely growth would much faster now, as people already heard the name "BITCOIN" even in negative way, any publicity either positive or negative is turning out in favor of Bitcoin.

Hahahahaha Man I knew he was going to end up eating those words!

laughing is healty ;)

So when Bitcoin was first unleashed back in 2009 I called it "Fake Money! A geeks pipedream that would never take off."

Back then people were giving them away mainly because nowhere accepted them. I refused to have anything to do with this "Pretend Money." Boy do feel stupid now turning down all those coins I was offered. "Here Pete, get yourself a wallet and I'll give you a couple of coins to get you started."

image source

Hindsight is a wonderful thing!


Regrets, I've had a few...




I'll bet Frankie would have seen the lights on buying BTC early on!

Mine is the case of ignoring all my inner yens to research and buy when BTC was ~.75...smh...

Let's pray that Steemit is a second woo (window of opportunity) moment. ;+)!


I do not trust Jamie Dimon, I wonder why he said this.

so on the face of it, it looks like a setup to me.

He trashed bitcoin, it dipped, his company bought up large, then he praised it and it went up, as did his profits.

This is less about him admitting Bitcoin is real, and more about how to manipulate a market for fun and profit.

Watch for the next big announcement by 'someone in the know' about how Bitcoin is a bubble and will crash on Thursday, and get ready to buy the dip!


This is less about him admitting Bitcoin is real, and more about how to manipulate a market for fun and profit.


He better watch this space because bitcoin is unstoppable


With more than a thousand other coins competing, I'd say the odds of continued Bitcoin dominance are at the very least, a bit lower than before.

So funny, but as we all know that "news rules this crypto world" so the big boys in the games pretty much advantage of it to get the best out of it.

jamie dimon hahah

To respond to your "4x" claim:

Bitcoin has been stagnating for a while and I've seen plenty of news and events that I can summarize the best way as "the first cracks on the shield".

Unless something world-trembling happens, Bitcoin entered its dawn, its own decline, the final phase, the end, etc.

The time for alternate, better cryptocurrency standards has come.

And I'm fucking happy to see it. This is how we can and will achieve the $1000B market cap and even more.

Now, what to do with this public remorse? Should we expect Bitcoin to rise 4x again, to $60k?

I really hope it doesn't happen so quickly because then big bankers and investors will keep releasing public statements about Bitcoin and crypto to pump the prices. Now, if a country's government releases such statements, the price could easily hit $60k within days.

Haha. Well, it's so cool that everyone is coming to their senses about crypto currencies overall!

This is another sign of crypto showing their potential in front of bankers!

Jamie DImon is a joke. If he just flip flops his opinion like that, it's hard for me to take him seriously.

Jamie Dimon: "I Regret Calling Bitcoin A Fraud"
How I've laughed, thank you @dragosroua had days that did not laugh like that XD

It's very interesting to watch. December 1 year ago I talked to a friend who is an edward jones financial advisor and said something similar to this.

I know Bitcoin is too volatile for your company, but you may want to start learning the technology. It will be coming to your industry before you know it and revolutionize the way you and everyone else does business.

He admitted during Christmas this year a bunch of advisors sat around during a meeting and confusingly talked about Bitcoin. Sadly I feel like this won't be the last story like this. He could have been ahead of the game and been able to talk to his colleagues and customers intelligently about Bitcoin.


He could have been ahead of the game

The saddest part is this is an example of why you don't trust your monetary investments to strangers, without a track record for success.

Those sitting in the room were under the tutelage of people with closed minds; unable to believe the wisdom of millennials raking it in with little or no college exposure.


That is the way to buy cheap..

I'm actually pretty sure he was just said that BTC was a fraud but most likely he was buying some himself or thinking how to position JPMorgan Chase to benefit from BTC's rising price.

you might be laughing - but around the time he said that, the bitcoin price did drop a bit - and you can almost bet your bottom dollar he bought in on that drop.

Another example of why it pays to always do the opposite of what financial heavyweights tell you to do. Why do people even have the slightest belief that they have our best interests in mind?

The five stages:





acceptance YOU ARE HERE JAMIE DIMON how much did the Bankers pump and dump Bitcoin?

are a part of the framework

=)))))) that was funny

That's too funny. I'm pretty sure he said he would fire his employees if he found out they were investing in it too.

This man has no control in this tongue And Every Statement Of His Make Big Impacts On Market.

Should we expect Bitcoin to rise 4x again, to $60k?

Shouldn't it be 80k?! (the max price until now was 20k right?)

The big players know what they're doing. He can issue a statement, buy in, issue another, and clean up on the movement it creates. People are fearful and easily swayed.

I follow you to keep me informed. Good comment at the end of laughter @dragosroua LOL

Bitcoin is runing like a racer car. Catch Bitcoin if you Can.

Thats sad for Jamie Dimon

he had put all the market in red once i hate that man badly