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Jamie Dimon Calls Cryptocurrencies "Pet Rocks" | Crypto Hate Continues

Dr. Ankur Pathak · 2022-12-08 · 유튜브 시청 196 · 게시판 조회 0 · 외국인

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oh our good friend Jamie dimon CEO of JP Morgan is at it again and it's great because these guys say one thing do another thing or they say one thing and believe it but still let other things go because it still provides them some Revenue so let's get into what he's saying I'm not going to share the actual clip last time I did that some copyright issues on YouTube so I'm not going to do that but this is pretty much what he's saying is that crypto is a complete Sideshow cryptocurrency tokens are like pet rocks that was his thing he also went on to say that you know we've got issues with anti-money laundering uh with uh financing bad people you've got trafficking and you've got tax evasion and all of those are supported or at least you know bumped up all because of cryptocurrency funny though that he's going to mention that all those things that have been in existence well before crypto came about they've been thriving because of cash right more than anything else so to pin it all of a sudden on crypto being the reason why those things are flourishing it's pretty interesting right and and pretty false actually there was one person on this panel there's three of them there uh three three actual news anchor people and one Jamie Diamond and one of them actually thankfully at the end said to that uh to that effect that hey look crypto's about two percent of influence of those problems that you mentioned all of those issues have been there and been thriving well before crypto came about but it was really the tail end they kind of just meandered over it and and he didn't address it and just went to the next topic and and here's the beautiful thing that he did say and I'm gonna ship this at the end as to why I think he said this is that because not just because he thinks that cryptocurrencies or Pet Rocks does not mean blockchain isn't viable doesn't mean that smart contracts aren't viable and does not mean that web 3 is not viable so he made a point to say that to separate cryptocurrencies from the technology aspect of it okay fair enough but here's the thing the cryptocurrency is what drives the blockchain that's the incentive on the blockchain and if you don't have those incentives as it's laid out today you're not going to have a blockchain that people want to insure with security there's no incentive for people to actually be on that blockchain but this is why I think he's saying blockchain smart contracts and web 3 are not viable the web theme part I don't think he really cares for that kind of means that you own your own information and you get to parse your information as you will I don't think him or banks are gonna love that we know that they want to be the center of everything they control things but where the blockchain and the smart contract comes is they want to create their own chain with their own smart contracts and create those Central Bank digital currencies so the cbdcs which is funny right that is in essence a cryptocurrency which he just said is a pet rock so the value or the pet rock part of it can be applied to cash there is no value inherent to cash as you and I decide or the public at large decides the entire world decides that this particular currency is what's going to be valuable and this is what we're going to trade in and this is how Services goods and services are going to be purchased that's it if you put your cash on a stack of on a table it's not going to do anything there's no there's no inherent value to it it's just what we decide is valuable together and then we can actually start using it to to move things around so that's the same thing that goes for anything but they don't address that part of it right they're saying cryptocurrency is terrible because there's no value to it cash has no value to it Okay so let's let's let's keep apples to apples here and kind of talk the same language but this is really where they're going right the JP Morgan is already doing things with their blockchain it's already doing testing in the background been doing it for quite some time cbdc's our real thing they will happen at some point and what better way for banks and the and and anyone tied to the financial services what better way to have control full out control over you than to have these cbdc's in place which they know where you're spending it they can suspend the accounts they can freeze them they can withdraw they can do whatever they want because that's where they find Value in the blockchain the transparency part locking up smart contracts that are going to favor them going forward where they don't have to have any manpower to to implement what the smart contract say is perfect for them so it's always interesting to hear when he comes on I mean they're JP Morgan is diving into polygon which is a layer two that's even further than just a Bitcoin or an eth and they're doing things with them why would you do this so if you felt this strongly why would you offer Bitcoin eth training any of these assets for your clients okay your clients want it but what do you get out of it fees that's what they want so they got to find a way to benefit from all this stuff in the meantime they're going to continue to poo poo anything that has to do with cryptocurrency that's it so that doesn't mean that everything in the space is great of course not but that doesn't exist in any industry in any Market in any Bank not everything in a bank is great I would I would argue that most things in a bank are not great but they come up here they have this condescending tone very arrogant about things and they know they know if he's saying that the technology is fine it's just a cryptocurrency that's the issue where do you think people found how did it become valuable the blockchain it was because of Bitcoin and then later on eth the incentive that was laid on the blockchain that's what made things popular yes the undertone the principles about transparency being trustless borderless all of that is there but the real adoption started to happen because of the value of the currencies so you can't dismiss that and say it's nothing but we're going to take the blockchain unless you like the technology because it's going to benefit you and you're going to guys they come out with their own JP Morgan coin they have their own token like he says is a pet rock they have that why go through that process if nothing is valuable so it's always the part about you know watch what they do not what they say he loves coming on here and he has for some time now years talking down about it but behind the scenes JP Morgan's doing what they're doing fully invested in this space they're in the metaverse for God's sakes I'm sure he doesn't think too favorably of that so check this out go on Twitter go on Google just type in Jamie Diamond crypto and this will pop up for you and check it out watch the whole thing

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