원문 보기
one of the biggest names in finance recently took shots at Bitcoin again you probably already know who it is but in case you're still wondering it's none other than JP Morgan's CEO Jamie Diamond people are very good at manipulating the press these days and getting news out know every day you know you have CNBC non-stop Bitcoin who cares about Bitcoin now Diamond has never been shy about expressing his dislike for the king of crypto but in a recent interview he really took things to another level he said some interesting things about Bitcoin from claims that only enables crime to even speculating it could all be erased by its creator as someone who's been in the space for years I've heard it all before but Diamond's fud was a especially Next Level this time around but you know what they say any publicity is good publicity right so instead of getting mad I decided we should address his arguments headon and give a balanced perspective in this video I'm going to break down exactly what Diamond said about Bitcoin then push back with facts on each of his points by the end we should have more people feeling even more bullish on crypto's future so go ahead and smash that like button grab some coffee and let's do this the crypto Community is not going to take these shots lying down all right first up diamond called Bitcoin a pet rock that does nothing crypto is a complete Sideshow okay and you guys spent too much time on it and I've made my views perfectly clear about crypto tokens are like pet rocks and there and and and people hyping this stuff up a pet rock now come on man it's 2024 are we still implying crypto has no uses Jamie seems to be stuck in the past because Bitcoin has proven itself as so much more than just a store of value we've seen it used as real currency from buying coffees to Teslas developing nations use it to send remittances for cheaper than Alternatives and the entire crypto economy wouldn't be exploding if it did nothing plus as programmable money Bitcoin is laying the foundations for smart contracts decentralized finance and who knows what future Innovations it's triggering bipartisan support to bring blockchain technology into our outdated systems you don't get to a$1 trillion dollar market cap by being useless seems to me diamond couldn't be more wrong in dismissing bitcoin's evolving utility the evidence is all around us this Tech is here to stay and change the world whether he likes it or not on the Bitcoin you know there's First of and I'm 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 5050 hundred billion dollar a year for that so Diamond claims the main uses of Bitcoin are for moneya laundering tax avoidance and sex trafficking now while anonymity can enable some Bad actors studies actually show that the vast majority of Bitcoin is used for legitimate purposes and then again the analytics guys at chainalysis estimate that criminal uses make up less than 1% of transaction volume and let's be real does diamond really think cash is an also used extensive ly for Crime should we ban the dollar to then of course not I might be wrong but the solution isn't to vilify the technology but rather work with the crypto Community to curb illicit activity through regulation while preserving user privacy meanwhile traceability Tech is improving all the time to flag suspicious funds plus crypto exchanges now comply with kyc and AML laws in my humble opinion if Diamond wants to solve problems maybe he should offer Solutions instead of spreading fud I guess that's too much to ask for these days overall the good Bitcoin enables overwhelmingly outweighs any negatives on to the next Point governments are going to crush it one day governments like to know where the money is who has it and what you're doing with it and you in case you haven't noticed okay and governments like to control their currency like to control their own in economy Jie's stance doesn't seem to have changed much since this interview back in 2018 with his more recent warning that governments May shut down Bitcoin if the illicit use issues aren't solved now while governments do have power an outright ban of the entire crypto industry seems very unlikely at this point it's simply too large integrated globally across too many influential companies and countries that want Innovation and then of course the Bitcoin ETF has been approved and to me that's a final nail in the coffin instead there are constructive efforts to solve these problems onchain analysis continues refining methods to flag illegal activity on public ledgers crypto exchanges comply with regulations while still respecting principles of decentralization and privacy overall crime rates are also decreasing as the space matures cooperation between crypto companies and policy makers studying these challenges will lead to balanced solutions that don't compromise the core decentralized nature of Bitcoin a total ban just isn't realistic given the momentum and benefits the technology provides most see that and want to ensure its development remains within legal and ethical guidelines Diamond could offer to help with that versus outright fuding without Solutions moving on to Diamond's claim that the creator of Bitcoin could erase it all come on Jamie do some research Bitcoin is designed so that no single person not even Satoshi controls the network the code is open- source and improved over time by countless independent developers all around the world even if Satoshi magically appeared with a key it wouldn't be possible to arbitrarily change the rules of the protocol with without the support of nodes and miners enforcing the updated rules erasing all coins goes against the decentralized principles built into Bitcoin Additionally the supply cap is mathematically certain based on bitcoin's code no one can change that regardless of what Diamond thinks it's secured by the consensus of users running validated software so really this is just fud with no technical basis in reality Bitcoin was designed from the start to have no single point of failure making Diamond scenario pretty much impossible maybe he should try to understand the tech before fearmongering about such implausible things all right Diamond Point number five is you saying Bitcoin can't be a store of value like gold because well you don't actually give a clear reason but let me tell you why that comparison doesn't hold up scarcity is critical for a store of value and just like gold only 21 million BTC will ever exist both are decentralized difficult to counterfeit and their supplies are predetermined but Bitcoin improves on Gold by being infinitely visible extremely portable without physical storage issues and is a truly Global asset not tied to Any Nation blockchain verification makes it trustless compared to relying on intermediaries with gold history shows Bitcoin has held its value extremely well despite volatility like any emergent asset would with a market now over $1 trillion it's clearly found demand as a new digital Reserve more and more major investors agree so while gold will always have value saying Bitcoin categorically can't match it is shortsighted the market seems to very much disagree with diamond there for me this last Point really shows Diamond's frustratingly close-minded view on bitcoin his please to stop talking about this demonstrate he's not open to reasonable discussion but instead of reacting angrily I think it's best to rebut his most dismissive claims respectfully calling Bitcoin a pet rock and questioning if anyone really knows its limits reduces legitimate debate to name calling diamon is a skilled Banker but clearly hasn't done his crypto research however dismissing an entire emerging industry doesn't Aid understanding rather than fear what we don't comprehend an open dialogue examining pros and cons leads to wiser conclusions if he took the time to explore use cases and Technical merits with an open mind Diamond might realize Bitcoin is far from Mere speculation his perspective could evolve by acknowledging both sides instead of shutting down talk I'm sure there's room for even Crypt Bulls like us to keep learning too well guys I hope this video addressed jimie Diamond's arguments while giving you even more reasons to stay bullish on crypto's bright f future as always discussions like this help all of us expand our knowledge even veterans like me if you want to keep talking crypto make sure to join my telegram group for conversation questions and signals on promising coins you can find a link to that in the video description below and please help spread more positive discussions in the space by hitting that like button also consider subscribing to the channel so you don't miss upcoming episodes covering all things crypto thanks so much for watching everyone and until next time keep stacking SATs
Comments 0