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number one I don't care so just please stop talking about this welcome back to another episode we are what are we doing we are looking at an interview with CNBC and the CEO of JP Morgan Chase and Fred armon's Grandpa Jamie Diamond I got my ripple milk right here so let's check this video out Bitcoin um this ETF was approved uh just about a week ago now and I think a lot of people are trying to understand what it ultimately means JP Morgan I imagine uh if you're a client of JP Morgan you could call your broker and say uh get get get me some of the CF U what are you telling what are you telling your Brokers to tell them back when they make that call I would this is the last time I've ever talk about this in CNBC okay so help me God blockchain is real it's a technology we use it it's going to move money it's going to move data it's efficient we've been talking about that for 12 years too and it's very small cryptocurrencies there are two types there's a cryptocurrency which might actually do something think of a cryptocurrency has an embedded smart contract in it and then we can use it buy and sell real estate and move data that may have value the idea of tokenizing things tokenizing things that that you do something with so I'm with him on that point because tokenization is going to make things more efficient we've talking about tokenization before on this channel and then there's a one which does nothing I call it the pet rock the Bitcoin or something like that I'm not trying to make a joke here there are use cases AML fraud anti-money laundering tax avoidance sex trafficking those are real use cases and you see it being used for hundreds maybe 50 hundred billion dollars a year for that that is the end use case everything else is people train among themselves shelves what is he talking about he's not trying to make a joke and yet he doesn't acknowledge all the benefits there are to bitcoin all the fud that's surrounding Bitcoin the last time I ever talk about Bitcoin is I defend your right to do Bitcoin my personal advice was be don't get involved but I don't want to tell anyone of you what to do it's a free country you make up the other firms the black rocks of the world that that look at that dude on the left he's like so upset obviously and and L Larry changed his view of this obviously and maybe he changed his view because you think he genuinely believes in Bitcoin or gen or believed it because he thinks that there's a Marketplace for it and he wants to be part of that market number one I don't care so just please stop talking about this how do you not care if if you have somebody who has the most assets under management out of all companies doing something how can you be somebody who manages financials be like H I'm not going to pay attention to that the only the only way that makes sense is because he is a bank and Banks quite naturally hate the idea of Bitcoin I don't know what he would say about blockchain versus currencies that do something versus Bitcoin that does nothing it maybe that not different than me but you know this is what makes a market people have opinions gold really didn't do anything either got him yeah but Gold's limit in Supply so it's bitco and it's been used it uh so you think so huh he sounds like your grandpa when you're trying to explain technology to him oh oh you think so huh how the hell do you know it's going to stop at 21 I think there's a good chance when we get that 20 Milli bit to 42 no that satachi satachi satachi bro oh my gosh this reminds me of this SNL clip man who do you think is cuter Rabbi Ronaldo or champ craw daddy Oh you mean Ryan Reynolds or Chase Crawford going to come on there he's going to come on where don't don't even repeat it don't even say that in the comments you know what I was talking about is hysterically go quiet all Bitcoins going to be erased what are you talking about unless we have some Advanced life preserving technology he's going to be dead and maybe I don't understand Bitcoin but to erase Bitcoin at this point you would have to destroy every single computer that's connected to the network every year we have increasing hash rates with Bitcoin which means the connection the network is growing stronger which makes it more difficult to bring down but correct me if I'm wrong in the comments he's implying that he doesn't want to get into Bitcoin because he's fearing that a century from now it's all going to go away is that good logic can you not invest a small portion of your portfolio into Bitcoin get the appreciation get the blow up tuations use that money to buy other assets what are you talking about you don't have to keep it in Bitcoin matically it's it it's not it can't happen because by the last one will be mined in 2150 and it it it gets harder and harder every time there's another having the six characteristics that make gold valuable for 4,000 years they're all present in Bitcoin that's all I saying for those of you who are investing in gold over Bitcoin what's your return on investment looking like let me know in the comments this is not a joke it's not a bash on gold I have some gold but I want to I want to I want to hear specifically from the gold bugs who have no Bitcoin whatsoever what's your return on investment looking like but I think there's another RI to bitcoin if if you can't solve the bad use cases the government's probably going to have to close it down the number was 20,000 I think for US dollar for dollars in money laundering and it was 35 for how much is done with Bitcoin so at this point the but the the dominant why do you have to take his gloves off for that I know historically the dominant currency for money laundering has been I understand okay I just also want to point when when I go to DC all the time remember we spend a lot of time on I would call the wing nuts there are a lot of Centrist Republicans Democrats if they sat here you'd it might be a majority might be 80% it might be well partially you guys invite the wing nuts on more not you guys I'm not talking about you I'm talking about like CNN and just gave you a half hour shots fired bro all right if you enjoyed this one let me know in the comments pay that like tax share this with a friend are you team Jamie Diamond or are you team that old guy at the end let me know and until the next one remember to smile because you are beautiful peace
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