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bitcoin a fraud

1,144 164 October 13, 2017 at 05:55 PM
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#2
Dimon is one of those people that just seems incapable of admitting when he's wrong. His fellow execs probably made millions on this latest bull run, but Dimon just keeps yelling about how they'll be sorry. You know who's sorry? The guy who bought a pizza with 10,000 BTC. Every person that sold BTC when it hit $5. Every single one of us that called BTC "fake money" when you could buy a s**t ton of it for next to nothing. Anyway, no one is listening to Dimon at this point except to mock him.
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#3
My stupidity has made me lots of money.
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#4
Thanks for the laugh this morning.
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#5
lol to the people with real replies. This was an obvious troll post when it's being posted when BTC is hitting new highs
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#6
Quote from justsaver
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lol to the people with real replies. This was an obvious troll post when it's being posted when BTC is hitting new highs
Of course it's a troll post just like his last post in Finance. However, Dimon's comment was made while BTC was hitting new highs as well. And yes, Dimon is trolling also. At this point I think Dimon just wants attention.
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#7
Bitcoin is a massive Ponzi funding crime and adversarial states. The bubble will burst and I'll be laughing at all u idiots. Do u really think u all are smarter than Dimon? Trumpsters I bet.
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#8
Quote from SummerSoFar
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Bitcoin is a massive Ponzi funding crime and adversarial states. The bubble will burst and I'll be laughing at all u idiots. Do u really think u all are smarter than Dimon? Trumpsters I bet.
Dimon is one of a very small group of wealthy businessmen that believe BTC is destined to collapse. There are far more people of equal or greater wealth and stature on the other side of the debate. In fact, J.P. Morgan is knee-deep in BTC and other crypto currencies so it seems even Dimon's immediate peers think he's off-base. Russia just announced it's own crypto currency. BP and Microsoft are heavily vested in Ethereum. IBM just signed a partnership with Stellar. Sweden is expected to go fully cashless in the coming years and is considering using crypto as their primary currency. The world is evolving whether you're on board or not.

As an aside, I do think crypto is a bubble atm. If you overlay the gold chart with BTC the patterns are incredibly similar. However, I am keeping an open mind it's also entirely possible that crypto continues to climb upward with only normal corrections. Regardless, even if the bubble bursts, the market will simply reemerge as a more mature market. It's not a fad any more so than the internet was a fad. the bubble argument only really pertains to those who are holding indefinitely anyway. It will be around long after you and I are dead. And anyone that is concerned that it may be a bubble (as I am), can simply buy the dips and sell the peaks instead of holding ("hodling") indefinitely.
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#9
Quote from ManUpOrShutUp
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Dimon is one of a very small group of wealthy businessmen that believe BTC is destined to collapse. There are far more people of equal or greater wealth and stature on the other side of the debate. In fact, J.P. Morgan is knee-deep in BTC and other crypto currencies so it seems even Dimon's immediate peers think he's off-base. Russia just announced it's own crypto currency. BP and Microsoft are heavily vested in Ethereum. IBM just signed a partnership with Stellar. Sweden is expected to go fully cashless in the coming years and is considering using crypto as their primary currency. The world is evolving whether you're on board or not.

As an aside, I do think crypto is a bubble atm. If you overlay the gold chart with BTC the patterns are incredibly similar. However, I am keeping an open mind it's also entirely possible that crypto continues to climb upward with only normal corrections. Regardless, even if the bubble bursts, the market will simply reemerge as a more mature market. It's not a fad any more so than the internet was a fad. the bubble argument only really pertains to those who are holding indefinitely anyway. It will be around long after you and I are dead. And anyone that is concerned that it may be a bubble (as I am), can simply buy the dips and sell the peaks instead of holding ("hodling") indefinitely.
While I appreciate your thoughtful response, my point is simply that Bitcoin is currently a vapor speculative, NOT a currency. Block chain indeed has great potential, but crytocurrencies are currently so over-hyped that there will be great change ahead and the idiot 'investors' will lose their shorts.

Edit: And to make any type of comparison between BTC and precious metals is a fallacy. I would hope u already realize that.
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Last edited by SummerSoFar October 17, 2017 at 07:49 AM.
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#10
Quote from SummerSoFar
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Bitcoin is a massive Ponzi funding crime and adversarial states. The bubble will burst and I'll be laughing at all u idiots. Do u really think u all are smarter than Dimon? Trumpsters I bet.
another jokester.

PS: not too late to get some bitcoin <3
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#11
Quote from SummerSoFar
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While I appreciate your thoughtful response, my point is simply that Bitcoin is currently a vapor speculative, NOT a currency. Block chain indeed has great potential, but crytocurrencies are currently so over-hyped that there will be great change ahead and the idiot 'investors' will lose their shorts.
BTC has established itself as a speculative asset, but I don't believe it will ever take hold as a currency. There are other crypto currencies in the works better suited to that and more will arise as time goes on. Actually, I think most of the major world governments will eventually establish their own crypto currencies as Russia is doing. There's really no reason why paper money should even exist anymore. Sweden is on the right track with its aim to go cashless. Anyway, crypto is absolutely speculative and there is certainly the opportunity that those holding may find themselves holding a worthless token in the end. I don't believe it's likely if we're talking about the major crypto currencies like BTC, ETH, LTC, ZEC, XRP, etc., but sure, it's possible.

Quote from SummerSoFar
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Edit: And to make any type of comparison between BTC and precious metals is a fallacy. I would hope u already realize that.
Both are speculative investments, but gold is obviously a much safer investment as it has established itself over a far longer period of time. The purpose of my comparison, however, was not to compare the actual assets, but rather to compare their charts. Bubbles exhibit the same chart patterns whether we're talking about stocks, precious metals or crypto currencies. You could overlay BTC, gold and Nvidia stock charts, for example, and the patterns will all look very similar if you adjust for the difference in time periods. We already know gold was a bubble because it burst and if you bought at the peak in 2012 you still haven't broken even. The same may happen to those buying BTC at $5-6K or we may see it rise to $10K+ before that happens. I have no idea, but I don't really concern myself with it since I am primarily a trader, not an investor.
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Quote from ManUpOrShutUp
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BTC has established itself as a speculative asset, but I don't believe it will ever take hold as a currency. There are other crypto currencies in the works better suited to that and more will arise as time goes on. Actually, I think most of the major world governments will eventually establish their own crypto currencies as Russia is doing. There's really no reason why paper money should even exist anymore. Sweden is on the right track with its aim to go cashless. Anyway, crypto is absolutely speculative and there is certainly the opportunity that those holding may find themselves holding a worthless token in the end. I don't believe it's likely if we're talking about the major crypto currencies like BTC, ETH, LTC, ZEC, XRP, etc., but sure, it's possible.



Both are speculative investments, but gold is obviously a much safer investment as it has established itself over a far longer period of time. The purpose of my comparison, however, was not to compare the actual assets, but rather to compare their charts. Bubbles exhibit the same chart patterns whether we're talking about stocks, precious metals or crypto currencies. You could overlay BTC, gold and Nvidia stock charts, for example, and the patterns will all look very similar if you adjust for the difference in time periods. We already know gold was a bubble because it burst and if you bought at the peak in 2012 you still haven't broken even. The same may happen to those buying BTC at $5-6K or we may see it rise to $10K+ before that happens. I have no idea, but I don't really concern myself with it since I am primarily a trader, not an investor.
You clearly have an educated head on your shoulders and see right thru the noise, and because of that I wish u all the best. Cheers.
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#13
Dimon is a banker. Of course he's gonna say that. Cryptocurrencies are taking over. Take a look at the National debt clock. That's The real bubble.
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