Category Archives: jamie dimon

Jamie Dimon: ‘Governments Will Crash Bitcoin’

Even though Bitcoin has been rapidly rising in the last days, Jamie Dimon thinks that the decentralized cryptocurrency has no future.


Does Bitcoin Have a Future?

Many experts and analysts were very skeptical with the sudden price surge of Bitcoin. The popular cryptocurrency had a very impressive price surge this week. Bitcoin hit a new all-time high of $5,835 and a market capitalization of $97 billion. Financial analysts like Novogratz believe that this is just the start. According to the hedge fund manager, Bitcoin could easily hit the price of $10,000 in 6 to 10 months. But JPMorgan CEO Jamie Dimon believes that the price of Bitcoin doesn’t matter and that it will fail. In a recent conference, Jamie Dimon argued that people who invest in Bitcoin will “pay the price for it one day.” He further stated:

The only value of bitcoin is what the other guy’ll pay for it. Honestly I think there’s a good chance a lot of the buyers out there are out there jazzing it up every day so that maybe you’ll buy it too, and take them out.

He also remarked:

I quite mean that by the way. People are very good at manipulating the press these days and getting news out. Every day, you have CNBC, nonstop bitcoin — Who cares about bitcoin? The world economy’s so big, JPMorgan alone, $6 trillion, we move all this money, and bitcoin in total, all these currencies, $50 billion dollars, maybe a billion dollars trades a day.

This isn’t the first time that the JPMorgan CEO commented about the digital currency. Back in September, he called Bitcoin a “fraud” and “tulip mania 2.0.”

Jamie Dimon

Governments will crash Bitcoin

In the last couple of months, more and more governments have taken a stance regarding Bitcoin, cryptocurrencies, and ICOs. The most effective measures were taken by the Chinese government. According to an article, Chinese regulators forced several cryptocurrency exchanges to shut down their operations until a proper regulatory framework is introduced. Jamie Dimon believes that regulations will just be the start. Governments are going to effectively crash Bitcoin since they can not properly control the currency.

What are your thoughts on Jamie Dimon’s statements? Do you think that Bitcoin will be crashed by governments? Let us know in the comments below!


Images courtesy of Pixabay, Wikimedia Commons

The post Jamie Dimon: ‘Governments Will Crash Bitcoin’ appeared first on Bitcoinist.com.

JP Morgan CEO, Jamie Dimon breaks Bitcoin silence after just one day — http://smartereum.com/jp…

JP Morgan CEO, Jamie Dimon breaks Bitcoin silence after just one day — http://smartereum.com/jp-morgan-ceo-jamie-dimon-breaks-bitcoin-silence-just-one-day/ — #Bitcoin, #Blockchain, #Cryptocurrency, #Interview, #JamieDimon, #JPMorgan, #Regulators


JP Morgan CEO, Jamie Dimon breaks Bitcoin silence after just one day — http://smartereum.com/jp… was originally published in Smartereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

JP Morgan CEO, Jamie Dimon breaks Bitcoin silence after just one day — http://smartereum.com/jp…

JP Morgan CEO, Jamie Dimon breaks Bitcoin silence after just one day — http://smartereum.com/jp-morgan-ceo-jamie-dimon-breaks-bitcoin-silence-just-one-day/ — #Bitcoin, #Blockchain, #Cryptocurrency, #Interview, #JamieDimon, #JPMorgan, #Regulators


JP Morgan CEO, Jamie Dimon breaks Bitcoin silence after just one day — http://smartereum.com/jp… was originally published in Smartereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

Bitcoin is a Scheme and “Fraud”: Jamie Dimon BTC Criticism

Jamie Dimon, the chief executive of JP Morgan Chase – has put on another strong support on his previous criticism towards bitcoin, saying that the crytocurrency leader is a “fraud” and he would choose firing anybody who would trade it.

During an even hosted by Barclays, based on the information from Bloomberg and CNBC J Dimon did announce out his feelings for Bitcoin. In November 2015, the long-time critic of the digital currency, stated that Bitcoin will not be able to survive when it was trading at around $400.

“I’m not saying ‘go short bitcoin and sell $100,000 of bitcoin before it goes down,” he said. “This is not advice of what to do. My daughter bought bitcoin, it went up and now she thinks she’s a genius.”

He hoisted up for remark those that have said the cryptocurrency in the market is at a bubble territory. Dimon was quoted saying:

“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”

During the same appearance he did add up that Bitcoin will “be blowing up” and that he would find stupid anybody trading it and terminate them.

After the news spread, based on the data from Bloomberg, many have noticed a drop in bitcoin price. Tanking the price value is still the fear that China will move to close domestic virtual currency exchanges.


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The post Bitcoin is a Scheme and “Fraud”: Jamie Dimon BTC Criticism appeared first on Ethereum World News.

Bitcoin at $900: Let’s Remember The Naysayers…

As Bitcoin straddles the $900 mark, now seems a good time to remember the naysayers who made it clear they thought the currency would never succeed – or was even already dead.


More FUD, Naysayers?

Bitcoin has faced its fair share of naysayers since its inception, but some are more vocal in their disdain than others. While there are far too many to mention by name, here are a few who will likely not be forgotten in a hurry.

Mike Hearn

Mike Hearn used to be firmly on the side of the Bitcoin community, but ended up – somewhat dramatically – losing faith. His post in January on his decision to ‘quit Bitcoin’ and resign as developer now reads like a notorious speech from history.

hearn

But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly,” he wrote.

The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards.

While predictions of Bitcoin’s imminent doom are amusing to read, the comedy soon turns to heartbreak in Hearn’s post as he announces he’d sold off his entire Bitcoin holdings:

I will no longer be taking part in Bitcoin development and have sold all my coins. Why has Bitcoin failed? It has failed because the community has failed.

Professor Bitcorn

From the sublime to the ridiculous, and Professor Bitcorn was a leading light in denouncing Bitcoin until his abrupt silence earlier this year.

mark-t-williams

A Boston university lecturer by day, Mark T. Williams put the cat among the pigeons in 2013 as he brought his Bitcoin doom-mongering to the mainstream press.

I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play,” he wrote in an article for Business Insider.

His more recent reticence could well be a result of Bitcoin not going to $10 in any of the subsequent three years, as one Reddit user points out.

Jamie Dimon

Who could forget Jamie Dimon? It appears that Bitcoiners won’t have the luxury any time soon, as under its CEO JPMorgan Chase is experimenting more and more with the Blockchain.

On the topic of Bitcoin, however, Dimon was always ready to nay.

“Virtual currency, where it’s called a bitcoin vs. a U.S. dollar, that’s going to be stopped,” he told Fortune in 2015. “No government will ever support a virtual currency that goes around borders and doesn’t have the same controls. It’s not going to happen.”

Several legalizations of Bitcoin later, it appears all Dimon can do to save face is hide behind his Blockchain experiments along with the majority of global banks.

genesis-mining-banner

The ‘Blockchain Not Bitcoin’ Crowd

Dimon is a prime example of the corporate and financial reaction to disruptive fintech. Where it is taboo or financially undesirable to embrace Bitcoin, Blockchain is brought forward as the go-to compromise.

This camp includes a huge number of companies, not to mention banks, which continue to champion the virtues of Blockchain and play down Bitcoin’s inherent advantages over legacy finance. For us regular folks however, we can’t help but echo the tweet of International Blockchain Real Estate Association Founder, Ragnar Lifthrasir: 

Honorary Mention: r/Buttcoin

As the icing on the cake, r/Buttcoin is a hater mill that doesn’t stop turning. There is enough naysaying material to run to several volumes, but such is the comedy gold to be mined from reading it in present times that now is a great opportunity to get on board.

“Is this where the poor people hang out?” one post reads.

What would you like to say to the Bitcoin naysayers? Let us know in the comments below!


Images courtesy of businessinsider.com, genesismining, bbc.com, shutterstock

The post Bitcoin at $900: Let’s Remember The Naysayers… appeared first on Bitcoinist.com.

Jamie Dimon Named Chairman Of Business Roundtable Scoring Another Key D.C. Post For Wall Street

zerohedge.com / by Tyler Durden / Dec 7, 2016 1:55 PM

Just days after being appointed to Trump’s “Strategic and Policy Forum,” JP Morgan CEO, Jamie Dimon, has been named Chairman of Business Roundtable.  Obviously, this is yet another prominent D.C. position for Wall Street just as Trump gets set to take the White House amid promises to “drain the swamp.”

Per a press release posted to the Business Roundtable website, Dimon will take over the Chairman position from Doug Oberhelman, the CEO of Caterpillar, and will serve a two-year term that will last through December 21, 2018.

“Jamie is one of the most accomplished business leaders in America,” Oberhelman said. “He is a strong and positive force for sound economic policies and the need for a diverse and skilled workforce. His depth of understanding and optimistic vision of America’s future make him exactly the right person to lead Business Roundtable to work with the new Administration and Congress.”

“It is an honor to be selected to lead Business Roundtable,” Dimon said. “Given the quality and diversity of its membership, the organization is uniquely positioned to advocate for meaningful solutions that create economic growth and opportunity for all. With a new President and Congress soon to take office, there is a real opportunity for Business Roundtable to be a positive influence and show how business plays a critical role in this growth.

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The post Jamie Dimon Named Chairman Of Business Roundtable Scoring Another Key D.C. Post For Wall Street appeared first on Silver For The People.

This Could Kill the World’s Most Popular Cryptocurrency

fortune.com / Lauren Silva Laughlin / MARCH 3, 2016, 1:33 PM EST

Bitcoin-aggedon could be coming.

Last fall, J.P. Morgan Chief Executive Jamie Dimon ominously told a group at the Fortune Global Forum that Bitcoin would likely be stopped by the U.S. government before it became a true currency of use. It might not [...]

The post This Could Kill the World’s Most Popular Cryptocurrency appeared first on The Bitcoin Channel.

Jamie Dimon: Bitcoin Doomed While Blockchain Is for Real

Jamie Dimon

JP Morgan CEO Jamie Dimon is back in the Satoshi spotlight. Speaking during an appearance on CNBC’s coverage of the World Economic Forum meetings in Davos last month, Mr. Dimon once again pronounced his lack of faith in Bitcoin.

Also read: Supreme Court Justice Antonin Scalia Deat at age 79

Jamie Dimon: Bitcoin Going Nowhere

“Bitcoin the currency, I think, is going to go nowhere,” Dimon said, “And it’s not because of anything to do with the technology. Governments, when they form themselves, form their currency. Governments like to control currency, know where it goes, and who it goes to, and control it for monetary purposes. There is nothing behind a Bitcoin, and I think if it was big, the governments would stop it. I mean that’s my own personal belief, I may be dead wrong.”

Despite this rather cynical view of “the currency”, the other side of the coin, Mr. Dimon argues, is the potential of blockchain technology:

“The Blockchain is a technology, which we’ve been studying (along with a couple of other people up here) and yes it’s real. It could probably reduce the cost of real application in certain things. It’s keeping a single file, as opposed to each of us keeping our own files, and it has certain security measures. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff. Not for everything; it is not useable for certain types of things.”

First off, with regards to Mr. Dimon’s comments around Bitcoin: Mr. Dimon is understandably speaking out against the potential of Bitcoin, given his unique position as a leader in the Wall Street banking world. Bitcoin represents an ideological shift away from reliance on consumer banking to track funds, towards empowering individuals to act as their own bank. Given the threat that Bitcoin poses to the future of JP Morgan’s business, Mr. Dimon is engaging in his legal duty to serve the best interests of shareholders. Governments like to regulate, control and track currency, and reasonably so.

Bitcoin, however, represents something newer and increasingly important. Bitcoin is simply a scare digital asset represented within a globally distributed and un-mutable database. The inherent value behind a Bitcoin is the recognition by millions that this groundbreaking innovation, which is the culmination of over 40 years of computer science research, to trade digital assets without need for intermediary oversight possesses ideological and practical value to them.

Yes, governments can and likely will try to usurp Bitcoin if it ever gets big. Challenges arise, however, around the fact that the cat is already out of the technological bag. No matter how much governments try and stop Bitcoin, individuals with knowledge of the peer-to-peer technology will (likely) always find ways around restrictions towards its use, similarly to how people still share music files illegally. This is challenging for the financial and legal communities to deal with, and is it crucial that policymakers and financial institutions understand the true potential here and act proactively without recognizing the economic benefits it provides, so that our communities and financial systems can flourish while remaining safe.

Moreover, with regards to Mr. Dimon’s views of Blockchain technology: the conversation around Blockchains in the banking world is continuing to shift. Increasingly, Wall Street is coming to terms with the real business applications of Blockchain technology and its potential to significantly cut settlement costs, lower latency times, and reduce security vulnerabilities. There is, however, a deeper underlying reason why Mr. Dimon and lawmakers often feel a need to separate Bitcoin from Blockchain technology, and it has to do with secrecy. Blockchain applications do not threaten the sacred kernel at the core of this regulatory dilemma, that being the potential for anonymity. As Mr. Dimon points out: Yes, Blockchains will be used for certain things, but not the ones that require AML, KYC, taxation, and licensing by law.

Lastly, Mr. Dimon’s comments reflect an increasingly popular idiom in regulatory and banking circles, that of private versus public blockchains. This juxtaposition has been a hot topic of discussion at this week’s San Francisco Blockchain Conference.

Recent investments by banking institutions such as Goldman Sachs, J.P. Morgan, and Citi in blockchain technology initiatives signals interest that comments such as those above by Mr. Dimon are having an impact on views towards these technologies within the larger financial space.  Perhaps, if the focus by traditional institutions keeps shifting away from Bitcoin and towards the Blockchain, talent behind its workforce will increase tenfold.  In the long run, proactive and honest conversations between Wall Street, Washington D.C., and Silicon Valley will make determining how to best regulate Bitcoin without stifling the beneficial qualities it brings (global payments system, kind of like a WhatsApp for money or 1990’s email) a lot easier and more effective for everyone involved.

What do you think of Jamie Dimon’s comments? Are they accurate? What does this hold for the future of the relationship between Bitcoin and Blockchains? Share your thoughts below!


Images courtesy of Wikimedia Commons, Aspen Ideas Festival

 

The post Jamie Dimon: Bitcoin Doomed While Blockchain Is for Real appeared first on Bitcoinist.net.

Jamie Dimon: Bitcoin Doomed While Blockchain Is for Real

Jamie Dimon

JP Morgan CEO Jamie Dimon is back in the Satoshi spotlight. Speaking during an appearance on CNBC’s coverage of the World Economic Forum meetings in Davos last month, Mr. Dimon once again pronounced his lack of faith in Bitcoin.

Also read: Supreme Court Justice Antonin Scalia Deat at age 79

Jamie Dimon: Bitcoin Going Nowhere

“Bitcoin the currency, I think, is going to go nowhere,” Dimon said, “And it’s not because of anything to do with the technology. Governments, when they form themselves, form their currency. Governments like to control currency, know where it goes, and who it goes to, and control it for monetary purposes. There is nothing behind a Bitcoin, and I think if it was big, the governments would stop it. I mean that’s my own personal belief, I may be dead wrong.”

Despite this rather cynical view of “the currency”, the other side of the coin, Mr. Dimon argues, is the potential of blockchain technology:

“The Blockchain is a technology, which we’ve been studying (along with a couple of other people up here) and yes it’s real. It could probably reduce the cost of real application in certain things. It’s keeping a single file, as opposed to each of us keeping our own files, and it has certain security measures. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff. Not for everything; it is not useable for certain types of things.”

First off, with regards to Mr. Dimon’s comments around Bitcoin: Mr. Dimon is understandably speaking out against the potential of Bitcoin, given his unique position as a leader in the Wall Street banking world. Bitcoin represents an ideological shift away from reliance on consumer banking to track funds, towards empowering individuals to act as their own bank. Given the threat that Bitcoin poses to the future of JP Morgan’s business, Mr. Dimon is engaging in his legal duty to serve the best interests of shareholders. Governments like to regulate, control and track currency, and reasonably so.

Bitcoin, however, represents something newer and increasingly important. Bitcoin is simply a scare digital asset represented within a globally distributed and un-mutable database. The inherent value behind a Bitcoin is the recognition by millions that this groundbreaking innovation, which is the culmination of over 40 years of computer science research, to trade digital assets without need for intermediary oversight possesses ideological and practical value to them.

Yes, governments can and likely will try to usurp Bitcoin if it ever gets big. Challenges arise, however, around the fact that the cat is already out of the technological bag. No matter how much governments try and stop Bitcoin, individuals with knowledge of the peer-to-peer technology will (likely) always find ways around restrictions towards its use, similarly to how people still share music files illegally. This is challenging for the financial and legal communities to deal with, and is it crucial that policymakers and financial institutions understand the true potential here and act proactively without recognizing the economic benefits it provides, so that our communities and financial systems can flourish while remaining safe.

Moreover, with regards to Mr. Dimon’s views of Blockchain technology: the conversation around Blockchains in the banking world is continuing to shift. Increasingly, Wall Street is coming to terms with the real business applications of Blockchain technology and its potential to significantly cut settlement costs, lower latency times, and reduce security vulnerabilities. There is, however, a deeper underlying reason why Mr. Dimon and lawmakers often feel a need to separate Bitcoin from Blockchain technology, and it has to do with secrecy. Blockchain applications do not threaten the sacred kernel at the core of this regulatory dilemma, that being the potential for anonymity. As Mr. Dimon points out: Yes, Blockchains will be used for certain things, but not the ones that require AML, KYC, taxation, and licensing by law.

Lastly, Mr. Dimon’s comments reflect an increasingly popular idiom in regulatory and banking circles, that of private versus public blockchains. This juxtaposition has been a hot topic of discussion at this week’s San Francisco Blockchain Conference.

Recent investments by banking institutions such as Goldman Sachs, J.P. Morgan, and Citi in blockchain technology initiatives signals interest that comments such as those above by Mr. Dimon are having an impact on views towards these technologies within the larger financial space.  Perhaps, if the focus by traditional institutions keeps shifting away from Bitcoin and towards the Blockchain, talent behind its workforce will increase tenfold.  In the long run, proactive and honest conversations between Wall Street, Washington D.C., and Silicon Valley will make determining how to best regulate Bitcoin without stifling the beneficial qualities it brings (global payments system, kind of like a WhatsApp for money or 1990’s email) a lot easier and more effective for everyone involved.

What do you think of Jamie Dimon’s comments? Are they accurate? What does this hold for the future of the relationship between Bitcoin and Blockchains? Share your thoughts below!


Images courtesy of Wikimedia Commons, Aspen Ideas Festival

 

The post Jamie Dimon: Bitcoin Doomed While Blockchain Is for Real appeared first on Bitcoinist.net.

JP Morgan CEO: Bitcoin is Going Nowhere

cryptocoinsnews.com / Samburaj Das / 21/01/2016

Noted Bitcoin skeptic Jamie Dimon was asked about Bitcoin during a recent televised interview. He doesn’t see the cryptocurrency going anywhere, although he does state blockchain technology “is real.”

JP Morgan CEO Jamie Dimon appeared in a CNBC interview at the World Economic Forum in Davos, where the interviewer [...]

The post JP Morgan CEO: Bitcoin is Going Nowhere appeared first on The Bitcoin Channel.

JP Morgan CEO: Bitcoin is Going Nowhere

Noted Bitcoin skeptic Jamie Dimon was asked about Bitcoin during a recent televised interview. He doesn’t see the cryptocurrency going anywhere, although he does state blockchain technology “is real.” JP Morgan CEO Jamie Dimon appeared in a CNBC interview at the World Economic Forum in Davos, where the interviewer brought up the subject of electronic […]

The post JP Morgan CEO: Bitcoin is Going Nowhere appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

JPMorgan Memo: $9 Billion Slated For Studying Blockchain And Robotics

An internal JPMorgan memo reveals that the lender plans to invest $9 billion in technology like robotics and the blockchain, according to Business Insider, which claims to have seen the memo. Daniel Pinto, the head of JPMorgan’s corporate and investment bank, sent the memo, which claims a major priority is to pursue innovative technologies in […]

The post JPMorgan Memo: $9 Billion Slated For Studying Blockchain And Robotics appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin’s ‘blockchain’ tech may transform banking

dailymail.co.uk / AFP / 05:49 GMT, 19 December 2015

The technology that drives the shadowy cryptocurrency bitcoin is drawing interest from the established banking industry, which sees a potential to revolutionize the sector.

Although bitcoin and related virtual currencies are limited to a small set of transactions and are often associated with the underground economy, [...]

The post Bitcoin’s ‘blockchain’ tech may transform banking appeared first on The Bitcoin Channel.

Does The Bitcoin Price Matter?

examinerunion.com / 17 Dec, 2015

Does it matter whether the price of Bitcoin goes up or down and, in so doing, steadily or drastically?

This is a question that both the enthusiasts who have invested their souls alongside their worth in Bitcoin and skeptics who are more than excited to hear JPMorgan CEO Jamie [...]

The post Does The Bitcoin Price Matter? appeared first on The Bitcoin Channel.

Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

insidebitcoins.com / By Kyle Torpey / Nov 30, 2015 2:30 PM EST

Digital Currency Group (DCG) Founder and CEO Barry Silbert was recently interviewed on RT’s Keiser Report, and he shared his thoughts on the recent trends for Bitcoin in the banking industry. At one point during the conversation, Host Max Keiser brought up JP [...]

The post Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin appeared first on The Bitcoin Channel.

Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

insidebitcoins.com / By Kyle Torpey / Nov 30, 2015 2:30 PM EST

Digital Currency Group (DCG) Founder and CEO Barry Silbert was recently interviewed on RT’s Keiser Report, and he shared his thoughts on the recent trends for Bitcoin in the banking industry. At one point during the conversation, Host Max Keiser brought up JP [...]

The post Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin appeared first on The Bitcoin Channel.

Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

Digital Currency Group (DCG) Founder and CEO Barry Silbert was recently interviewed on RT’s Keiser Report, and he shared his thoughts on the recent trends for Bitcoin in the banking industry. At one point during the conversation, Host Max Keiser brought up JP Morgan Chase CEO Jamie Dimon’s comments related to bitcoin, in which he... View Article

100 Banks Approach Blockchain.info

100 Banks Approach Blockchain.info

Banks have been odd towards Bitcoin from the get go. At first they all laughed at the currency and now it’s an entirely different story. Legacy banking institutions seem to be very interested in the protocol, and this can be seen throughout mainstream media publications. One Bitcoin company Blockchain.info says they have been approached by over 100 banks about Bitcoin and its underlying technology.

Also read: BlockNotary Integrates Factom to Optimize Digital Fingerprint Storage

Anything a bank does today can eventually be done on this protocol.”—  Peter Smith, Blockchain.info

Blockchain.info’s CEO, Peter Smith, had a lot to say to the media on a CNBC’s “Future of FinTech” broadcast explaining the many benefits Bitcoin can offer banks. The company believes it’s the world’s most popular bitcoin wallet now has almost 5 million wallets in use. Because the service is so popular in the industry Smith says they have been approached by 100 banks so far. To Smith he feels it’s going to be a “radical departure for bank strategy.

Partly as a result of our leadership in the space and our tech staff. We’ve been approached by probably at least a 100 banks at this point including most tier one banks.” — Peter Smith, Blockchain.info

Many traditional finance institutions have been looking heavily into the technology behind bitcoin. It’s very well known that more and more of them are coming out of the woodwork daily. Banks like Goldman Sachs, Citi, Wells Fargo, Santander and countless more. Smith says the collaboration with these big institutions will take some years, and the “technology itself has some growth to do as well.” Smith says that the banking road maps with this technology are some years away, he says if it were his guess to when these collaborations will happen he’d say “at least three years.”

Being a leader in the space has brought quite a few banks to Blockchain.infos door. This would make one wonder how many other Bitcoin companies have been approached by these institutions? Wall Street executives like Blythe Masters have been all about the new digital landscape however people like Jamie Dimon have not. With Bitcoin’s reputation some banks feel the currency is too much like the Wild West right now, and these businesses may be guiding them towards positivity. Banks, Smith say have always been a “very closed platform”, and they need to realize that “anything a bank does today can be done on this protocol.” The network he says is far more efficient and cost effective for services to use in contrast to traditional systems.

The New York company was also asked how they felt about themselves with the current competition within the wallet industry right now. Smith says “currently today we probably have more wallet users than the other competitors combined” and that their product is a better “mousetrap” by keeping it’s crypto-applications simple. The executive has a positive outlook on the currency itself and his own company’s expectations. Blockchain.info’s CEO says that his service will capitalize on a strong “network effect” like Bitcoin, and it’s this reason his company will remain confident in the crypto-space. 

What do you think about Banks approaching Bitcoin companies? Let us know in the comments below.


Images courtesy of Redmemes, and Shutterstock

 

The post 100 Banks Approach Blockchain.info appeared first on Bitcoinist.net.

Video: JP Morgan CEO Sees Bitcoin as a Waste of Time

Bitcoin skeptic Jamie Dimon, CEO of JPMorgan has once again spoken about the decentralized cryptocurrency, Bitcoin - by dismissing it. He sees potential in blockchain, however. “Separate currency from blockchain,” Dimon said. “My belief is that there’s not going to be virtual currencies. They may be small,” he added dismissively, stating that governments will not put up with it. “Government like to control (currencies). They have central banks, they like to control the supply. They also generally like to know where it (currency) is and where it goes.” Bitcoin, cryptocurrencies and virtual currencies are slowly being seen as innovations by […]

The post Video: JP Morgan CEO Sees Bitcoin as a Waste of Time appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Jamie Dimon: Virtual Currency Will Be Stopped

fortune.com / Stephen Gandel / NOVEMBER 4, 2015, 4:44 PM EST

The JPMorgan CEO explains why he thinks the government will crack down on bitcoin and other virtual currencies before they get big.

Jamie Dimon isn’t on board with bitcoin.

Speaking on Wednesday at the Fortune Global Forum, the CEO of JPMorgan Chase JPM 1.08% [...]

The post Jamie Dimon: Virtual Currency Will Be Stopped appeared first on The Bitcoin Channel.

Silver Massacre 4 Years Later: Our Current Silver “SitRep”

Keeping our Eyes on the Prize:
I remember very well, where I was on this day, 4 years ago
.  I was flying high throughout the entire month of April. I’d just started a new job, but on May 1st, 2011, like many of you, I was glued to the computer screen all day long, with a gut-wrenching feeling in the pit of my stomach.  Because, 4 years ago today…..Blythe Masters and Jamie Dimon, along with various agents of the US government, began a carpet bombing of silver that lasted nearly a whole business week.  Instead of having a pathetic pity party today though, I’m going to do something veeeeeery different!
I’m going to give you a “Silver SitRep” in the struggle we’re in, from a bird’s eye view.  I want to draw attention to what you and I are up against, in order to acquire our silver.  What we face in getting our silver, is getting more difficult by the day.  By the way, I’m not talking about the banks making it more difficult, but other, very different factors.  You see, I’m convinced we’re closer than ever to the end of Bretton Woods II, and the Great Reset, and I say that because of silver.  Silver is my main barometer.

Click here for more on the Silver Massacre Anniversary:

Jamie Dimon’s Bitcoin Rejection Ignored by JPMorgan Alumni

NEW YORK (InsideBitcoins) — Although JPMorgan Chase CEO Jamie Dimon has let it be known that he is not a fan of bitcoin as a currency, the TwoBitIdiot recently pointed out that at least three past executives from the bank have joined bitcoin companies over the past two years. Goldman Sachs is also represented in... View Article

Jamie Dimon’s Bitcoin Rejection Ignored by JPMorgan Alumni

NEW YORK (InsideBitcoins) — Although JPMorgan Chase CEO Jamie Dimon has let it be known that he is not a fan of bitcoin as a currency, the TwoBitIdiot recently pointed out that at least three past executives from the bank have joined bitcoin companies over the past two years. Goldman Sachs is also represented in... View Article