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Home / Business / Someone, please let Jamie Dimon know that his new Cryptocurrency is a scam JP Morgan Chase and Co. Announced Thursday it would be the first major institutional bank to release its own crypto competition. The new JPM Coin is an almost shockingly impotent reaction to Bitcoin and other cryptocurrencies of America's largest bank. Jamie Dimon gets a new toy Newsflash: Bitcoin Basher Jamie Dimon and JP Morgan just launched their own Cryptocurrency https: //t.co/VciDixDldH – CCN.com (@CryptoCoinsNews) 14 February 2019 JP Morgan says you can now give them a dollar, and they will give you a JPM coin, which you can redeem for your dollar with them at any time. So they use JPM Coin to keep track of how much money you have deposited and withdrawn. It is therefore difficult to overstate. It would be shocking, but for the fact that we already knew for many years how institutional bank head is about cryptocurrency, how it thinks about crypto, the knowledge of crypto it suppresses, and what it wants the world to think about bitcoin . 19659004] We know from such well-worn shibbolets as: "We are excited about the block chain technology behind Bitcoin. " Who wanted to be horse-drawn carriages a hundred years ago, they said they were excited about some of the underlying technology of these new horse-drawn carriages … But not the horseless part. And then a new "car" presents to the market that looks a lot like a model T car and copies some of its finer details, but it is drawn by horses. [19659002] Much idea of ​​JPM coin as currency is a scam They call it "coin" a coin that means buying a digital JPM coin from them, and "redeeming" the coin means selling it back to them for USA Dollar. This is almost too ridiculous to criticize convincingly. To begin with, you're not part of collecting anything. The use, in this case, lies in the realm of 100% fluffmetafhor. When bitcoin is inserted into your bitcoin wallet, the fact that it was transferred to your account is excluded in these bits. Once the transaction has cleared, it is irreversible. It is much more permanent and unchanging than a design stamped in a metal item with a coin door and press. But all that happens to JPM Coin, a stable coin associated with the dollar in a 1 to 1 ratio, is a client who gives JPM a dollar and JPM's computer remembers giving it a dollar and that they are committed to give it back when the customer wants to withdraw it. It is literally just how things were at JPM before this so-called crypto competition. Clients would give them their money and they would give it back when clients requested it. It's just called bank. The only meaningful difference may be that they've worked out some solutions to handle transfers between calculations faster and can verify faster if it's wrong. JPM Coin is just JP Morgan Optimizes its database software and calls it a crypto It is 2019 and JP Morgan Chase and Co. Finally, spend a bit of that TARP bailout money on computer software to improve its online record storage. And it has hilariously decided to transfer what JPM Coin, a new "cryptocurrency" brought to you by Jamie Dimon, the guy who called bitcoin a fraud. The answer from the crypto community was fierce and fun, ranging from "nothing like Bitcoin" (MIT Technology review) to "not even a true crypto competition" (CCN), to the 2019's most popular money laundering token: It most popular money laundering token this year will be JPM Coin – Pomp (@APompliano) February 14, 2019 shot fired! <3 @ APompliano pic.twitter.com/SBeuy2h0T9 – Logan [🗝🧙🏼‍♂️⚡💰] (@futjrn) February 14, 2019 JPM Coin will no doubt be used for Commit financial scams The tweet of Morgan Creek Capital partner Anthony Pompliano is no glib remark. Although billionaire CEO Jamie Dimon said "Bitcoin is a fraud" in September 2017, his company has paid billions and billions of dollars in what is incredibly slap-on-the-wrist fines in terms of how much money is being manipulated by JP Morgan for false purposes: "Since 2010, Bitcoin first began circulating, led by Jamie Dimon JP Morgan Chase has been charged with 48 different bank and security fraud violations. $ 28,675,456,874.00 is the sum they have paid out over the last 7 the years in police fines at the expense of politicians whose coupons they have filled with money. " They should have just called it FraudCoin because chances are, it will be used for it at some point. This is also just one way for JP Morgan, saying that the new bank token has been developed for wholesale financing between corporate major customers, to inflate reserves with new JPM dollars created by thin air and tell their customers: "Give us your money for those tokens. " What is the JPM Coin convertibility to Schrute Bucks? ] Get out with your so-called "Bitcoin Killer", Jamie Dimon

Someone, please let Jamie Dimon know that his new Cryptocurrency is a scam JP Morgan Chase and Co. Announced Thursday it would be the first major institutional bank to release its own crypto competition. The new JPM Coin is an almost shockingly impotent reaction to Bitcoin and other cryptocurrencies of America's largest bank. Jamie Dimon gets a new toy Newsflash: Bitcoin Basher Jamie Dimon and JP Morgan just launched their own Cryptocurrency https: //t.co/VciDixDldH – CCN.com (@CryptoCoinsNews) 14 February 2019 JP Morgan says you can now give them a dollar, and they will give you a JPM coin, which you can redeem for your dollar with them at any time. So they use JPM Coin to keep track of how much money you have deposited and withdrawn. It is therefore difficult to overstate. It would be shocking, but for the fact that we already knew for many years how institutional bank head is about cryptocurrency, how it thinks about crypto, the knowledge of crypto it suppresses, and what it wants the world to think about bitcoin . 19659004] We know from such well-worn shibbolets as: "We are excited about the block chain technology behind Bitcoin. " Who wanted to be horse-drawn carriages a hundred years ago, they said they were excited about some of the underlying technology of these new horse-drawn carriages … But not the horseless part. And then a new "car" presents to the market that looks a lot like a model T car and copies some of its finer details, but it is drawn by horses. [19659002] Much idea of ​​JPM coin as currency is a scam They call it "coin" a coin that means buying a digital JPM coin from them, and "redeeming" the coin means selling it back to them for USA Dollar. This is almost too ridiculous to criticize convincingly. To begin with, you're not part of collecting anything. The use, in this case, lies in the realm of 100% fluffmetafhor. When bitcoin is inserted into your bitcoin wallet, the fact that it was transferred to your account is excluded in these bits. Once the transaction has cleared, it is irreversible. It is much more permanent and unchanging than a design stamped in a metal item with a coin door and press. But all that happens to JPM Coin, a stable coin associated with the dollar in a 1 to 1 ratio, is a client who gives JPM a dollar and JPM's computer remembers giving it a dollar and that they are committed to give it back when the customer wants to withdraw it. It is literally just how things were at JPM before this so-called crypto competition. Clients would give them their money and they would give it back when clients requested it. It's just called bank. The only meaningful difference may be that they've worked out some solutions to handle transfers between calculations faster and can verify faster if it's wrong. JPM Coin is just JP Morgan Optimizes its database software and calls it a crypto It is 2019 and JP Morgan Chase and Co. Finally, spend a bit of that TARP bailout money on computer software to improve its online record storage. And it has hilariously decided to transfer what JPM Coin, a new "cryptocurrency" brought to you by Jamie Dimon, the guy who called bitcoin a fraud. The answer from the crypto community was fierce and fun, ranging from "nothing like Bitcoin" (MIT Technology review) to "not even a true crypto competition" (CCN), to the 2019's most popular money laundering token: It most popular money laundering token this year will be JPM Coin – Pomp (@APompliano) February 14, 2019 shot fired! <3 @ APompliano pic.twitter.com/SBeuy2h0T9 – Logan [🗝🧙🏼‍♂️⚡💰] (@futjrn) February 14, 2019 JPM Coin will no doubt be used for Commit financial scams The tweet of Morgan Creek Capital partner Anthony Pompliano is no glib remark. Although billionaire CEO Jamie Dimon said "Bitcoin is a fraud" in September 2017, his company has paid billions and billions of dollars in what is incredibly slap-on-the-wrist fines in terms of how much money is being manipulated by JP Morgan for false purposes: "Since 2010, Bitcoin first began circulating, led by Jamie Dimon JP Morgan Chase has been charged with 48 different bank and security fraud violations. $ 28,675,456,874.00 is the sum they have paid out over the last 7 the years in police fines at the expense of politicians whose coupons they have filled with money. " They should have just called it FraudCoin because chances are, it will be used for it at some point. This is also just one way for JP Morgan, saying that the new bank token has been developed for wholesale financing between corporate major customers, to inflate reserves with new JPM dollars created by thin air and tell their customers: "Give us your money for those tokens. " What is the JPM Coin convertibility to Schrute Bucks? ] Get out with your so-called "Bitcoin Killer", Jamie Dimon



The idea behind a Stable coin is an exercise in the futile.

Like to contemplate one of the absurd chances.

The coin is attached to the value of something else.

So why not just keep something else, which apparently will always have the same value as stablecoin, but is actually self and not just something redeemable for itself?

This is just so funny because Dimon and such institutional finances scoffed at Bitcoin compared to the Dutch tulipan, claiming that there is only a common hallucination of a larger stupid after another of some value in something with no intrinsic value .

Now they ask big players with a lot of money to buy their stablecoin, which they say is worth $ 1

, but why is it worth it? Stablecoins are just worth it as all those who share the hallucination agree, it's worth, but there is no intrinsic value in JPM Coin.

JPM Coin is so absurd, it's almost like a postmodern art project.

  JP Morgan, JPM Mynt, Ripple, XRP

Psst, Jamie. Your so-called cryptocurrency is an exercise in futility. | Source: REUTERS / Mike Blake / File Photo

JP ​​Morgan has just issued a digital certificate that you can redeem for another digital certificate that you have not been able to redeem for hard specie since Nixon was president.

Are we actually forgetting the banking system viciously satirizing itself?

Forget about World War 3, atomic agents, zombie apocalypse, rising sea levels, winter AI, space gamma rays or some kind of nano-biotic gray goo.

Is the real chtonic force that will overwhelm the world the unbearable hilarity and frightening blindness of dinosaur heritage institutions fumbling through our brave new world?

Disclaimer: The views expressed in the article are just the author's and not

Jamie Dimon AP Photo's picture / Jacquelyn Martin


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