Community post
Don't Do What Dimon Does
Don't Do What Dimon Does
Seems Dimon may be in trouble for "market abuse" in Sweden now because of his "remarks" being perfectly timed with a fall in bitcoin price and his company JP Morgan buying Bitcoin during that dip. You can read more on this story at Bitcoin.com here.
I think I have made my thoughts about such declarations pretty clear in the past what surprises me is that some people still seem to panic sell based on these kind of bullshit "opinions".
Suffice it to say you should not trust people who stand to benefit from these kind of announcements. They are likely profiting off your fear.
(N.B. Meme image taken from Bitcoin.com article).
Replies (110)
Oh nooooo its siiiinking! Please stop lol Dimon is part are the fraud that inspired the creation of bitcoin in the first place. I can see why he doesn't like it very much. When btc hits 10k I hope he cries himself to sleep
Good article @thecryptofiend
Not if they (JP Morgan) keep buying when it dips.
http://bitcoinchaser.com/wp-content/uploads/2017/09/Anatomy-of-The-Jamie-Dimon-Attack-on-Bitcoin.jpg
I thought that originally, but after reading a bit more about it, it sounds like another bank was just routing orders through JPM's market maker for that market, no? JPM was not actually buying that security and neither were their clients, right?
From what I understand they actually were. I think Kevin had a link for some of their purchases a few days ago.
Great post and I wish steemit had a sticky or pin option because this is one of those special posts. ??
Oh, ok. I haven't followed it for a few days as I was working on a post about it, until I stumbled upon this:
http://www.businessinsider.com/bitcoin-price-jpmorgan-looked-like-it-was-buying-after-dimon-called-fraud-2017-9
ts typical :)
Actually I think that might be the screenshot I saw but I think this goes deeper. JP Morgan are shilling their own blockchain platform right now - so either way the announcement is iffy. We will have to see if this investigation is confirmed - if it is that would suggest something more.
But he's the reigning expert on fraud (being one himself doesn't hurt) Do you think anybody in the crypto world believes or pays attention to him? Most of us are here to get away from people like him!!!
I was not one of JPMs customers, but I owned some Bitcoin eTF´s on the stockholm exchange. The same ETF´s that JPM was buying up that day. I wrote an article about it that same day showing that they bought 10 times more Bitcoin ETFs the day after that statement than the days before.
Fishy indeed.
We will have to see what the investigation finds or if we get more news. I doubt they would do this unless they thought there was some kind of relationship between what Dimon said and those purchases.
Yes agreed. It was odd the harsh rhetoric he used. I mean the guy is investing big money in blockchain technology yet he had nothing nice to say about it?! From a guy in his position, knowing that every word he speaks gets dissected and analysed, it was very odd for him to be so over the top critical of Bitcoin.
In fact, my initial reaction upon hearing him was.... "this guy is short Bitcoin in a big way..." lol :)
True but there is a large quota of idiots in crypto too who panic sell on pretty much anything anyone says no matter what their reasons for saying it or where their "vested" interests lie.
Yes it just doesn't make sense and seems very hypocritical. Also ironic that a banker would use the term fraud after what happened in the financial crisis a decade ago - JP Morgan was a part of all that. People in glass houses and all that.
brova @thecryptofiend
https://s26.postimg.org/i8lp3f0vt/U5driz_URs_P98rt_Ci7vrx9_Jg_XBp_JVc_AJ.gif
Thanks for the perfect post! @thecryptofiend
lol, guy is such a fool like after all the crap with JP Morgan for the stock exchange you really think they wouldn't do it for blockchains.
You're welcome:)
Cool thanks for the link!
Seems they can't help themselves.
Whoops! Looks like somebody got caught! Ha!
excellent work dear friend @thecryptofiend, thank you very much for sharing this information and your personal opinion.
In these situations it is best to stay calm, inform yourself of various sources or as in this case go to friends on the web for a second opinion.
are moments of great uncertainty, you have to be pasiente, soon everything back to normal, do not take departures by only one information.
I really appreciate the great work you do in the community. thank you very much
I wish you a beautiful day
Hopefully.
Jamie and the entire banking system is the FRAUD! I knew this shithead was playing the market and used the downdraft to buy buy buy ! Jaime can go to HELL HELL HELL
The people who are FUD-Panic Selling are probably the same ones that pulled into CryptoStation on the FOMO train in May. The run up this summer was obviously unsustainable, and when Jamie "The Fraud" Dimon performed his stunningly public act of projection on Bitcoin, a lot of those people probably got scared, "Oh The Fraud is the head of a huge US Bank. he's gotta know what he is talking about."
People who didn't want to miss out on the action are trying to bail before they "lose it all."
This is totally insane and not acceptable behaviour, Dimon should be ashmed of this cheating. JP Morgan is no more a name which can be trusted. They have lost all of their incredibility.
Bankers are the worst type of scum. Most of them don't give a shit about anyone and all they want to do in line their pockets with other peoples cash. Cryto will save us from this but Bitcoin will not. Developers behind bitcoin are tweaking the code so that it is more easily regulated and Centralised, which is completely destroying what the initial purpose of bitcoin.
Bankers are worried that their fait bullshit will ACTUALLY BE WORTHLESS. Its really just history. EVERY single national currency has failed. ............EVERY SINGLE ONE THE USD IS NEXT> BUY BITCOIN STEEM LITECOIN DASH ETHER PAY GNT SELL USD
he did the opposite of the 'pump and dump', he used his position to lower the price of a commodity to buy low - classic securities exchange commission violation. he belongs in a federal prison not a swank corner office
I feel like those people are probably the buyers that traditionally purchase stocks and bonds, and when they seen Bitcoin taking off this summer, they didn't want to miss out.
Now, since they had so little faith in it aside from a "get rich quick" scheme, they are trying to bail on it. Oh well, their loss is my position addition.
Even if not it is very convenient to say that Bitcoin is a fraud. Since that "fraud" will replace their "fraud".
Sadly you may well be right. Those people exist in all markets.
Well that is if they ever had any. Their racket is coming to an end anyway.
That is scandalous. This guy has no morals at all. Just sickening. Slime ball.
I hope you are wrong but this is possible. At least we have other options.
Exactly.
Right and to be honest I doubt he is the only one who has done this sort of thing (assuming it turns out to be true).
Yes good point. There are more and more of those people who are desperate for returns which can beat inflation - that is becoming harder and harder with traditional investments.
Well he is a banker lol. Nice to see you are back!
We were literally just talking about this in steemstocks discord server last night....lol.
Big banks have been doing this with stocks for years, despite all the regulation. It's a no brainer they are doing it with crypto without the worry of U.S. big brother right now.
Yes absolutely!
buy the dip. thanks for sharing
Yes. You're welcome.
You should see the reply of John McAfee to Dimon in the video I posted in Alt-News #11, its almost at the end of the video, pretty priceless!
I also think the same.
It is almost like when the Rothschilds(I think it was them) spread a rumor about a competitor bank going bankrupt causing masses of people taking their money out of the bank, lying to the masses to make yourself rich
Bitcoin is a fraud!! 👅👅👅
Thanks for sharing.
I personally think them market rallies and dips are "avalanche" effects. There is so much uncertainty around at all times that the smallest bit of news can turn the the tides. China announces ban on crypto (now even miners apparently!) and Dimons calls it a scam - people sell in anticipation of a dip. Then more people follow to buy back cheaper. Then people panic and the price crashs 50%. Same works the other way round.
So my point is, I don't think people really sell because of Jamie Dimons and co., I think most are just traders who take advantage of news like this, triggering an intended panic sell-off.
https://scontent.fjnb4-1.fna.fbcdn.net/v/t1.0-9/21766497_10155497383010937_3607077576682604657_n.jpg?oh=e4138925c958ec157642362a5c4e2fd6&oe=5A47742D
The masses fall for it all the time @thecryptofiend.
I agree with you totally...this is much ado about nothing. The banksters are known for saying one thing publicly while doing the exact opposite in private.
The fact that Dimon slammed BTC even going so far as to saying any trader of JPM who traded in BTC would be fired immediately (which is a lie since Dimon would trade in people's livers as long as the trader made a profit) should have alerted people of his interest in this currency.
I hope Sweden throws Dimon in jail and fine JPM $100 billion. That would be justice.
I didn't know he did a reply. I will check it out.
I didn't know about that. I will need to read upon it thanks!
Yes you may well be right.
Exactly that is one of the reasons the establishment hates it.
Well I doubt it would be anything so severe but maybe they will surprise us.
Jaime Dimon should have been in prison from the massive financial fraud and lies that he committed back in 2007/8.
Instead he received billions of dollars of tax payers money to bail him out so that he can just carry on commiting his fraud for the next 9 years.
He is one of the reasons for Bitcoins invention and the massive boom in popularity in the last 12 months due to lack in confidence in Dimon and the dollar at the minute.
Ultimately, I decide by myself and exchange.
I think that it is incorrect to complain that "I have failed because I heard his opinion."
Yes.
Not sure what you mean here or how it even relates if you did something based on your own opinion.
Ha ha yeah Bankers. Not my favourite people that´s for sure.
Thanks man. My "selling" season at my gallery is over now. Now is my time to paint and do other stuff so dont be surprised if you see me around here on Steemit again. Good to see you are still going strong my good fellow.
I hope they surprise us. We all know the US does nothing to them.
No crime is worthy of conviction when it comes to the big banksters.
I'm sorry.
Trades are self-responsibility to the last.
I should have expressed it.
Wow nice write ups, thanks for sharing.
Dimon is a certified douche. But we already knew that... he's already shown himself to be the master of dubious financial practices back almost 10 years ago. I hope the Swedes rake him pretty publicly over the coals...
Yes me too.
Of course but people have to be responsible for that say too.
Sadly that is the pattern.
I don't have as much time these days but am trying to post at least once or twice a week.
You're welcome.
Yes....we can only hope that the blockchain and cryptocurrencies really put a hurting on the banks. It has the potential to revolutionize the way transactions are done.
Will banks go the way of record stores? Perhaps they will survive but adapting is going to be necessary.
I like this article...gave you a follow...keep up the good posting.
Thanks:)
How am I not surprised.
yeah, that's the problem right there with cryptocurrency speculation. The US Fed has to be very circumspect in any declarations, but Bitcoin is sort of like the Wild West. Any one who appears to be someone can sway the gullible.
We are all too busy these days. Will look out for your posts. Tale it easy.
It was basically what started the great depression, well it happened just before the great depression.
Yeah, he could also have shorted it. 😀 😃 😄 😁
Well my friend- I put it like this... If I have to pick between you and Jamie Dimon to take crypto advice from, you win hands down!
Yes exactly. It is a double edged sword in that sense.
Don't take advice from anyone including me :)
Dips are only for buying they are the opportunity to hold on but why the market is low today any special reason or normal :)
In so much trouble:
https://news.bitcoin.com/jamie-dimons-bitcoin-statements-reported-as-market-abuse-in-sweden/
Do NOT do as Jamie Dimon says. Do what he does ... well, as long as its ethical. Nuff said.
Congratulations @thecryptofiend!
Your post was mentioned in the hit parade in the following category:
taking advice from Jamie Dimon is like listening to postmen's view on e-mail. Cryptocurrency is eating away his Bonus salaries he feels threatened, id be worried if he was promoting bitcoin.
Cryptocurrency is really news driven. When good news comes out a coin rallies sometimes.Here we have to learn and ride the waves of the dip when bad news comes and goes.
Seriously
He did this
Thanks for this
It's also a political way to govern by the fear : Choc Strategy. We make you scary about some thing, and then you are open to do what we want.. That's all. Manipulating people for their benefits, then manipulate the market for their benefits. . Thanks for sharing
Lol right but I don't think he does anything ethical hence don't copy him.
Exactly. The funny thing is that JP Morgan are promoting their own blockchain platform at the same time without a hint of irony.
Has been going on forever I think.
Sure, since the time where human used to making things profitable for all the group... A long, long time ago ;) It seems that is after the sedentarisation that we started being indivualistic.
Some see a bad thing in a dip.. But look at it the other way. Just buy and your earning will increase :D
This is why people should not invest in crpyto if they don't understand the technology!
People who read the whitepapers HODL with little/no fear. People who flock to the "next big moneymaker" get their coins shaken out when they have weak hands.
Right.
I agree with not doing what Dimon does....except for buying the dip ...Always BTD. But if you want to try your hand at his job and Bank in the new crypto economy give P2P lending a try!
https://steemit.com/bitcoin/@btcpopco/bitcoin-will-kill-banks-not-banking
Thanks . Thanks a lot for sharing this
keep an eye on Dimon, and make an opposite thing :D
I just wonder if the fact that he did that got exposed on main stream media over here like on CNBC and all that. They should put him on the spot and grill him over it and see him squirm on TV.
Check Blockchain Dude's new episode about Jamie Dimon the FUD Master, https://youtu.be/k5PjtCiU-O8
This is totally something dad would do.
Yes they should but those kind of situations are rare these days.
Hey Jamie Demon!
Now is NOT the time to take SELL actions but BUY actions as this chart shows:
thanks for this
i don't understand why people care when a fraudeur calling something a fraud :P?
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By badmouthing the crypto space, Dimon creates an opportunity for JPM and his affiliated cronies to pick up Bitcoin and other coins more affordably. Don't fall for it.