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JPMorgan CEO Jamie Dimon questions 21 million bitcoin cap

JPMorgan CEO Jamie Dimon questions 21 million bitcoin cap



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  1. > I’ll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don’t know, I’ve always been a skeptic of stuff like that,

    If anybody is interested, the relevant code is here: https://github.com/bitcoin/bitcoin/blob/1790a8ddacae0d52135f5020894ef1ceef625cf9/src/validation.cpp#L1068

    Good advertising for Bitcoin though.

  2. how can you spend $500,000 on a watch if you don’t know humanity will stick to 24-hour days forever?

    what if we decide to have 27-hour days in the future?

    i don’t know, i’ve always been a skeptic of stuff like that”

    -jamie dimon on keeping time

  3. At this point its just plain misdirection and not even ignorance anymore; Dimon says this absolute stupid shit, meanwhile JPM is buying BTC behind the scenes and is launching BTC etfs..

  4. The fact that all these bankers are getting into it (e.g. Fidelity) or FUDing it (e.g. JPMorgan) is telling. They wouldn’t all be taking positions if it wasn’t front and center in executive board meetings.

    We’re watching them feel the crucible of BTC game theory in real time. Embracing bitcoin makes it more likely to succeed – which (as the largest holders of dollar denominated debt) could destroy them. Failing to embrace it will *guarantee* their destruction if BTC succeeds without them. Each bank that jumps in applies more pressure to the others to do the same – a positive feedback loop.

  5. Yes, I’ve read the algorithms, aka source code, since it’s all public and open for everyone to see.

    I can understand how he might think like that, because the legacy financial systems do work based on trust and closed sources.

    But that’s the great thing about Bitcoin, there’s no need to trust anyone.

  6. > Dimon said that he still feels bitcoin is “worthless,” but elaborated that his opinions on cryptocurrency do not determine JPMorgan Chase’s approach to offering crypto products

    This phrase right here, come on man. He believes that what he’s selling is worthless, but he’s happy to charge his clients for it.

    Also, why on Earth would you need JPMorgan to get Bitcoin anyway?

  7. >but elaborated that his opinions on cryptocurrency do not determine JPMorgan Chase’s approach to offering crypto products.

    The more important cryptocurrency becomes for JP Morgan, the more the shareholders will feel that they have the wrong CEO to steer things going forward.

  8. tldr; JPMorgan Chase CEO Jamie Dimon challenged bitcoin bulls to prove that the cryptocurrency is not limited in quantity. Dimon said that he still feels bitcoin is “worthless” but elaborated that his opinions on cryptocurrency do not determine JPMorgan Chase’s approach to offering crypto products. He added that the bank can offer clients some “legitimate” access to the crypto space if they want.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  9. It’s amazing to be how all these dissenters are so incredibly against something while being so incredibly uninformed about it. It’s everything that’s wrong with the way humans think – in a world where it’s easier than ever to challenge our narratives.

    You’d think Jamie Dimon would be able to read an if-statement in C++ considering he employees thousands of engineers and the concept is pretty fundamental to all things code. These fucking people are programmed to be clueless I swear to god…

  10. He’s absolutely clever. Most people will have this question about Bitcoin: “But isn’t it all just computer code and made out of 1 and 0? That’s worthless!!!”

    However, some people will begin to think more about fiat money and eventually realize, it’s made up, too.

  11. The most surprising thing about Jamie Dimon is how mathematically challenged he is. I thought that if you were the top executive of a huge bank, you would for sure be good at economics or math.

    The statement is so dumb, it actually made me chuckle because it just exposed how little he understands about what blockchain is and how it is secured.

What do you think?

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