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[–]NabyK8ta 198 points199 points  (16 children)

Not necessarily bullish. JP Morgan are masters of manipulating a price legally or otherwise. Look into their manipulation of silver for a real eye opener.

[–][deleted]  (2 children)

[deleted]

    [–]Perleflamme 20 points21 points  (0 children)

    At least his daughter didn't follow his path. It's pretty ruthless of him to use her so mindlessly. These people...

    [–]MgKx 1 point2 points  (0 children)

    Oh that demon

    [–]xDenimBoilerx 11 points12 points  (7 children)

    You know I thought this same thing. Once all the big players are into it and offering it to their customers, I kinda thought they had to be manipulating it big time. Doesn't seem like they'd be cool with BTC blowing up to 200k and their customers getting rich as hell. They're the ones that will be getting rich (er) as hell and their customers will get some scraps.

    I don't know enough about these things to know how they'd do it though. Maybe they'll have more data and be in control of the orders for their customers, which will allow them to short it easier?

    [–][deleted] 4 points5 points  (1 child)

    And take a %

    [–]Naerren 0 points1 point  (0 children)

    Only a "%"? wow that hoping a lot.

    [–]_SwanRonson__ 2 points3 points  (0 children)

    If they charge a % AUM, then they want btc to be high. A high price would also make them money on commissions, since high price and volume has thus far been associated with bitcoin.

    Zero-sum thinking. A lot of value is being created in this space, certainly you agree given that you are on a forum dedicated to it.

    [–]CrefloSilver999 1 point2 points  (1 child)

    Here it is in silver. Naked shorting futures contracts to smash the price down then buying at the bottom while it climbs a bit higher. CTFC (Rostin Benham) looks the other way because crypto (and silver) are competitors to the dollar. https://twitter.com/creflosilver/status/1387602699701653504?s=21

    [–]xDenimBoilerx 0 points1 point  (0 children)

    Damn. So then doing the same with crypto is very possible then. Fuck the world.

    [–]DJ_Beardsquirt 0 points1 point  (1 child)

    Seems like the pump has already begun

    [–]_Commando_ 1 point2 points  (0 children)

    pump and dump, be careful of the trap.

    [–][deleted] 0 points1 point  (0 children)

    Considering how knowledgeable they are/were they may be in for quite the surprise getting into the bitcoin market. There are lots of desperate hungry people willing and ready to eat that big money.

    [–]SnooRabbits4992 75 points76 points  (110 children)

    bitcoin cash?!?!?! hahaha

    [–]UnknownEssence 68 points69 points  (18 children)

    Better than Ethereum Classic

    [–]babossa77 19 points20 points  (1 child)

    thats not too hard, doesnt make it good

    [–][deleted] 2 points3 points  (0 children)

    I mean, is it??

    [–][deleted]  (9 children)

    [deleted]

      [–]TenshiS -3 points-2 points  (7 children)

      Everyone that compliments BCH has never transacted with Lightning or understood the importance of hash rate. Not to mention the minimal fees of a few sats.

      [–]_cryptodon_ 1 point2 points  (6 children)

      has never transacted with Lightning or understood the importance of hash rate

      Do I have to run my own node to use lightning non-custodial?

      [–]TenshiS 0 points1 point  (2 children)

      No, but your client/phone needs to be online most of the time while a channel is open

      [–]_cryptodon_ 2 points3 points  (1 child)

      That's not ideal, what happens if you lose a connection?

      [–]TenshiS 0 points1 point  (0 children)

      I'm not an expert on the matter, but afaik you can set a lock time when opening a channel, which is by default approximately 24h. This means you could be offline for 24h without anything happening. After that period, in theory the other party could close the channel unilaterally claiming to have received more from you than they actually did.

      I'm sure I heard there is a solution in the making for this, but I haven't read much about it in a while.

      [–]mitchcrypto 0 points1 point  (2 children)

      Why do you even need a custodial wallet for a 100-200 bucks? Assuming that's what you store on a lightning wallet.

      [–]_cryptodon_ 0 points1 point  (1 child)

      Well, that's the whole point of crypto really. Designed to remove the middle man.

      [–]mitchcrypto 0 points1 point  (0 children)

      I don't want a middle men if I'll be transacting thousands or tens of thousands. And assuming I'm not being charged more, I couldn't care less if there will be a middle man when I'm buying a coffee for $3.

      [–][deleted] 12 points13 points  (0 children)

      Bitcoin doesn't work, because throughput sucks and fees are awful.

      Bitcoin Cash full nodes probably are easier to run than ethereum full nodes even if bitcoin cash reaches full 32 megabyte blocks. Bitcoin Cash is just for value transfer, and uses a UTXO model, so the software performs far better than Ethereum.

      Ethereum's use case kinda needs short block times and an account model, plus it has the really bulky ethereum virtual machine. Of you think the current gas limit on ethereum is acceptable, then Bitcoin Cash's 32 megabyte blocks aren't that much of a stretch. Bitcoin Cash has scaling improvements over Bitcoin Core as well, that allows for it to have bigger blocks.

      [–]notimeformorons 11 points12 points  (78 children)

      This right here really proves they don’t have a f*ing clue what they’re doing. They’re really proving the case for DeFi.

      [–]Jebusura 34 points35 points  (67 children)

      Now I don't hold BCH myself but I bet every single person who laughs at it hasn't got a clue that it's the OG Bitcoin. As in, the OG Bitcoin that isn't hard forked away from Satoshi Nakamoto's whitepaper, the one he released himself into the wild.

      I don't think it's such a stupid thing to buy the original master copy of a thing. I personally don't think I'll be adding it to my portfolio, but I can understand why others would.

      [–]notimeformorons 21 points22 points  (23 children)

      I can assure you that most of us laughing are fully aware of bitcoins full history including the fork that lead to the creation of BCH.

      [–]Jebusura 16 points17 points  (21 children)

      So can you explain why it's stupid to buy something that is in actual fact the OG Bitcoin?

      [–][deleted]  (4 children)

      [deleted]

        [–]Pezotecom 6 points7 points  (0 children)

        ETC is the OG ETH.

        /s

        Not a football team guyzzz

        [–]DATY4944 1 point2 points  (1 child)

        I don't see BCH as an issue but who cares what vitalik thinks?

        [–]AM_Dog_IRL 6 points7 points  (1 child)

        The market has decided that BTC is bitcoin. This conversation is long settled. Who is still debating this?

        [–]Jebusura -1 points0 points  (0 children)

        The market has decided on the BTC blockchain is the best future for BTC, this is true. And no one is debating that BCH isn't the OG Bitcoin. So I'm not sure what point you're trying to make

        [–]throwaway742858 -1 points0 points  (1 child)

        cant imagine drinking the koolaid this hard about observance of originalism, I guess everybody has their own investment priorities. whether or not some things original has almost zero bearing on its worth

        [–]Jebusura 0 points1 point  (0 children)

        Plenty of people disagree with you. And that, right there, gives it is worth. Or do you believe that only the projects that you personally believe in should have value? What a strange take

        [–]LayingWaste 3 points4 points  (1 child)

        most dont know BCH is bitcoin, jpm does. watch price when it hits loll.

        [–]ratsmdj 3 points4 points  (1 child)

        Bch is the true to the nakamoto paper .. btc however has changed its narrative and is no longer nakamotos way

        [–]Jebusura 1 point2 points  (0 children)

        Exactly! Which is why you can understand why some people hold BCH. I'm not saying they are right or wrong to so. I just understand why they would

        [–][deleted]  (5 children)

        [deleted]

          [–]dhe69 8 points9 points  (1 child)

          He came to BCH after BTC refused to increase the block size. He funded alot of BCH project. Majority of people with his bag would probably retire to their own island. Very unselfish and passionate about P2P.

          [–][deleted] 3 points4 points  (0 children)

          Yea all these 2021 crypto people bashing the guy who saw cryptos potential wayyy before them and has been an advocate ever since and they throw shade...

          [–]blockpine 6 points7 points  (1 child)

          According to whom is Roger Ver the spokesperson of BCH?

          [–][deleted] -1 points0 points  (0 children)

          Why? Roger is great.

          [–]TenshiS 2 points3 points  (6 children)

          Wait, did you just say BCH was not hard forked away?

          [–]Jebusura 0 points1 point  (5 children)

          Was it hard forked after Satoshi went silent? I may have missed something, it was a few years that a did my due diligence so I may have forgotten

          [–]TenshiS 1 point2 points  (4 children)

          bch was forked from the btc blockchain in 2017 to increase blocksize

          [–]Jebusura 0 points1 point  (3 children)

          Oh that's what you meant. You got it wrong though. BTC is a fork away from BCH. But everyone decided that the group behind this new fork should lead the way for BTC. Since they had the majority, all exchanges listed this new fork as BTC and the old blockchain had to rename itself to BCH.

          The BTC that everyone supports now is a changed Bitcoin, it's not the one Satoshi made. BCH is the one Satoshi made

          [–]TenshiS 0 points1 point  (2 children)

          No, you got it wrong and you're twisting history. BCH is the fork. Satoshis code had a fixed block size of 1MB and BTC still does to this day.

          [–][deleted]  (1 child)

          [deleted]

            [–]TenshiS 0 points1 point  (0 children)

            I never claimed its the closest to satoshis vision of what bitcoin would become, but it is undoubtedly the same blockchain and the same rules he left when he disappeared. Its pretty stupid to claim anything else, you can literally follow the code. Or, you know, Google any "history of Bitcoin" article. Have you read anything at all?

            I've been here long before the blocksize was even a debate, I experienced all of it in real time.

            [–][deleted] 0 points1 point  (0 children)

            I always thought BSV seemed like the better choice, but I guess not since nobody gives a fuck about it anymore lol

            [–]educatemybrain[🍰] -1 points0 points  (3 children)

            Lol wat. A hardfork is when a chain is no longer compatible with clients from before the fork, BCH is a hard fork. If I get my Bitcoin wallet out from 2012 and send some transactions, guess what chain they will be on? BTC. Your fantasies don't change code.

            [–][deleted]  (2 children)

            [deleted]

              [–]educatemybrain[🍰] -1 points0 points  (1 child)

              Lol wow. I literally have a hardware device from pre fork. I use it to send BTC constantly, when I send a transaction the other person gets BTC and zero BCH.

              You live in fantasy land and if you continue to live there you're ngmi.

              [–][deleted] 16 points17 points  (6 children)

              Counterpoint: they don't actually care about Bitcoin Cash, and only hope rubes will buy into it because of the brand.

              [–]Hanzburger 0 points1 point  (0 children)

              TIL the word rubes

              [–]notimeformorons -2 points-1 points  (3 children)

              Totally agree, don’t think it’s a counterpoint at all just a blatantly transparent move on their part.

              [–][deleted] 0 points1 point  (1 child)

              Fair enough. I just think they have a clue, but don't care about the financial health of any but their biggest clients.

              [–]Thatstrue2 1 point2 points  (1 child)

              Also an easy on-ramp as it is available on basically every exchange including Robinhood, PayPal, etc.

              [–]coinfeeds-bot 42 points43 points  (1 child)

              tldr; JPMorgan Chase has opened up Bitcoin, Bitcoin Cash, Ethereum and Ethereum Classic fund offerings to its retail customers. The bank is the first major US bank to provide digital currency funds to all clients in the wealth management division. However, consultants will not be allowed to recommend cryptocurrency products.

              This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

              [–]reddit_1999 22 points23 points  (0 children)

              So Jamie Dimon was/is full of crap? I'm shocked, SHOCKED!

              [–]Killakoch 20 points21 points  (2 children)

              If theres money to made, the big banks will be there.

              I shared the same sentiments as Dimon once upon a time until I did research. I waited on the sidelines a long time. People can change their opinions.

              I agree with one of the other posters that JP Morgan are notorious for manipulation. Guess its to be expected though. The whales will play their games.

              [–]Ghawr 2 points3 points  (0 children)

              It's hard to sit on the sidelines while your friends make money.

              [–]parvicus 14 points15 points  (3 children)

              My real concern is that JP and the other institutions are going to sell these funds and they are not going to be backed by the same amount of crypto. Similar to what is/has occurred with institutions that were selling paper GameStop and AMC shares. I could see them selling BTC, ETH, BCH what they don't own. Somehow they may be able to get away with it from the magical, 'it's not a security loophole', that is going in the XRP suit.

              [–]Kristkind 14 points15 points  (1 child)

              I just realized there is an advantage of ethereum that bitcoin does not have regarding PoS. Buying ETH, people eventually will expect the yield of a validator node, so the ETH have to be there. Nothing the like to prevent paper bitcoin.

              [–]Airwin-Apollo11 12 points13 points  (4 children)

              Last time this happened the used futures to sink price.

              [–]NewSubWhoDis 4 points5 points  (3 children)

              Good. Sink it so we can all get our 32 eth.

              [–][deleted] 2 points3 points  (0 children)

              What if we just mint some more? We can call it the Ethereum Child Tax Credit or something

              [–]parobg 0 points1 point  (1 child)

              Word. Waiting for 1k to get in. Possible or not really?

              [–]NewSubWhoDis 0 points1 point  (0 children)

              Anything is possible with the crypto market. Govt crackdown could tank the price to $10

              [–][deleted] 7 points8 points  (2 children)

              Lol weren't they staunchly anti-crypto like 6 months ago?

              [–]Kherring3 3 points4 points  (0 children)

              Like 2 weeks ago.

              [–]Sir-Emik 7 points8 points  (4 children)

              1. Failure as a Payment Method Many might praise Bitcoin for its innovative features, but what’s so innovative about having higher fees and slower transaction times than any bank on earth? When this is mentioned, Bitcoiners will quickly change the subject to the fictitious “lightning network”, which is a typical red herring fallacy. Contrary to popular belief, the Lightning network is NOT Bitcoin. It’s a fully centralized system that isn’t settled on the BTC Network and can only sustain less than 0.00001% of users, which means it will never work on a large-scale population. It’s a common distraction BTC promoters use to avoid the elephant in the room, Bitcoin is expensive, slow, and unscalable. Fun fact: Bitcoin processes less than 4.6 transactions per second, while Visa does around 1,700+ transactions per second on average. Even with less than 1% of the world having dabbled in Bitcoin, we’ve seen so many instances of scalability issues, imagine what would happen on an even larger scale?

              [–]dhe69 4 points5 points  (3 children)

              This 100%. The fear of hard fork turn BTC into what it is today. Imagine ETH refuses to change.

              [–]Im_banned_everywhere 2 points3 points  (1 child)

              As long as money skelly controls the ETH I think we are fine.

              [–]Sir-Emik 0 points1 point  (0 children)

              ETH continues to find issues. The 2023-2024 date is where experts have clearly stated ETH 2.0 may launch https://twitter.com/theadaape/status/1420006487494209543?s=21

              [–]Sir-Emik 0 points1 point  (0 children)

              ETH continues to find issues. The 2023-2024 date is where experts have clearly stated ETH 2.0 may launch https://twitter.com/theadaape/status/1420006487494209543?s=21

              [–]jtsai943 4 points5 points  (0 children)

              Next headline- “jamie dimon goes all in on eth”

              [–]pkennard 1 point2 points  (5 children)

              Bitcoin Cash?? In other news Ford is re-releasing the Model T.

              [–]dhe69 2 points3 points  (2 children)

              Pretty sure BTC is the model T.

              [–]pkennard 1 point2 points  (1 child)

              That is probably right, but you can't deny the adoption.

              [–]dhe69 1 point2 points  (0 children)

              Agreed.

              [–][deleted] 1 point2 points  (0 children)

              Sales people sell shitty products to unsuspecting customers not infrequently.

              [–][deleted] 2 points3 points  (0 children)

              Now hows about that ETF huh?

              [–][deleted] 1 point2 points  (0 children)

              Speculation for sale from asshatMorgan.

              [–]Angoram 1 point2 points  (0 children)

              Let’s be real. JPM never cared for cryptocurrencies. If anything, they’re only doing this to keep their clients from going elsewhere

              [–]ALFAcashier 1 point2 points  (0 children)

              It's interesting how quickly FUD turns to HYPE 🚀

              [–]Substantial-Soft-642 -1 points0 points  (0 children)

              Did you forget ethereum classic is also in there. I ❤️ etc

              [–]FunCryptographer4761 -2 points-1 points  (1 child)

              Bankers are here to protect us! Bankers: “ want some Bitcoin Cash!” I really need to add the /s to my posts

              [–]mexercremo -1 points0 points  (0 children)

              Forgot all about bitcoin cash lol

              [–]tristamus 0 points1 point  (0 children)

              Yeah big fuckin suprise.

              [–]tatooine 0 points1 point  (0 children)

              This absolutely does not mean what you think it means. It’s a private placement through a Grayscale ETF. It would be pretty much the absolute worst way anyone could buy into crypto.

              This is not big banks doing crypto custodial services.

              [–]OTS_ 0 points1 point  (0 children)

              me, upvoting this article re-written by yet another “tech blog” and reposted yet again for karma

              [–]TrainingPerformance 0 points1 point  (0 children)

              Even Jpmorgan is already in game

              [–]Asianholic69 0 points1 point  (0 children)

              Screw them ny banks bra

              [–]SwigTheRome 0 points1 point  (0 children)

              J.P. Morgan is trash though.

              [–]Do_u_ev3n_lift 0 points1 point  (0 children)

              They filled their bags and now it’s read to sell their 30k btc for 60, 80, 100k.

              [–]mitchcrypto 0 points1 point  (0 children)

              Also ethereum classic (multiple 51% attacks) and bitcoin cash. They surely did their research. /s

              [–]Sweet-Zookeepergame -2 points-1 points  (0 children)

              Dogecoin is next.

              [–]Sir-Emik -1 points0 points  (0 children)

              Regulations will tame Bitcoin Ever since this bull run made global headlines, regulators from around the world have been focusing their efforts on the crypto markets. While some compliant projects will survive, the majority are in for a harsh reality. While regulators already know that regulating Bitcoin will be hard, if not impossible, they have something else they are going after. Stable coins. In the near future, countries will adopt strict policies that restrict stable coins like Tether, and USDC from engaging in certain activities such as money laundering, and price manipulation. While these regulations will be overall beneficial to the community in the long run as it eliminates fraud, they will still likely have a negative impact on the prices of many assets that are dependant on stable coins. Countries have been hinting at regulations for many months now, so don’t be surprised when they are eventually introduced. Just last week, America’s largest financial regulators met to discuss stablecoins, with Treasury Secretary Janet Yellen emphasizing “the need to act quickly to ensure there is an appropriate U.S. regulatory framework in place,” for these digital assets. In addition, the government has dozens of other options to tame Bitcoin. They can shut down centralized exchanges, ban Bitcoin mining, ban citizens from trading Bitcoin, restrict internet access to certain crypto platforms, and be more strict with KYC/AML requirements.

              [–]Severe_Writing5095 -3 points-2 points  (0 children)

              unleash the kraken 😂

              [–]satoshisfeverdream -3 points-2 points  (0 children)

              Bcash? Really?

              [–]spin_kick -4 points-3 points  (1 child)

              ok, so we love banks again lol

              [–][deleted] -1 points0 points  (0 children)

              No, read rhe actual article or at least the comments before forming an opinion