We pretty much always have some crypto conversation with you.
I'm just curious because I don't think we've talked to you since--
I think all that's been a waste of time
and why you guys waste any breath on it is totally beyond me.
Because you just think the whole thing just is--
- Going to zero? - going to zero and is fake?
Bitcoin itself is a hyped up fraud.
- It's a pet rock. - You're back to that?
- Yeah, of course. Yeah. - Really?
Welcome to BitBoy Crypto!
My name is Ben.
Today, we're going to be taking a look at Jamie Dimon, the head of JPMorgan,
calling Bitcoin trash and spreading FUD and nonsense, which he's been known to do.
So, first and foremost, he is in Davos right now for the World Economic Forum.
You guys can see that here,
we've got some of the common CNBC folks including the scammer Andrew Ross Sorkin here.
But let's take a look at what Jamie Dimon had to say about Bitcoin.
He mentioned Bitcoin.
You said you didn't know what we're talking about.
We pretty much always have some crypto conversation with you.
I'm just curious because I don't think we've talked to you since--
I think all that's been a waste of time
and why you guys waste any breath on it is totally beyond me.
Because you just think the whole thing just is--
- Going to zero? - going to zero and is fake?
Bitcoin itself is a hyped up fraud.
- It's a pet rock. - You're back to that?
- Yeah, of course. Yeah. - Really?
So, what do you make then of BlackRock and other firms
- that are investing in infrastructure of-- - No, that's different.
- Blockchain is a technology ledger system - Right.
that we use to move information.
We've used it to do overnight repo--
- intraday repo. - Right.
We use it to--
we're going to use it--
- we've used it to move money. - Right.
So that is a ledger.
That's a technology ledger type of thing that we think will be deployable.
- Remember, we-- remember, we've been talking about that for 12 years, too, - But what it's based on is distributed ledger.
and very little has been done.
So interesting.
We have here,
we have Jamie Dimon talking about Bitcoin is not really where it's at.
He's saying it could go to zero,
but blockchain, the ledger on Bitcoin-- that Bitcoin is built on,
that's where the real technology is.
But if you actually listen to the question,
they asked about BlackRock's investment in Bitcoin.
And then he misdirects and acts like it's all in blockchain.
It's not. They have a Bitcoin investment fund.
But Bitcoin is based on a distributed ledger.
- Yeah, but Bitcoin-- - It has all--
but it has all the characteristics of a store of value.
- It's immutable. - I--
It's scarce.
- It-- - Totally untrue. It's--
- It's 21 million. - Yeah, really?
How do you know it's going to stop at 21 million?
- Because it's Satoshi-- - I've mentioned this to people who tell me.
Everyone says that.
Well, maybe it's going to get to 21 million
then Satoshi's picture is going to come up and laugh at you all.
This is the stupidest, most asinine statement I've ever heard anybody make about Bitcoin.
Like, the idea that, all of a sudden,
Bitcoin's just going to start printing more and minting more Bitcoin at the end
because a picture of Satoshi Nakamoto comes up and laughs at people?
That makes zero sense.
And it shows the willingness of Jamie Dimon to FUD Bitcoin.
Why?
Well, we're going to look at a lot of reasons why here in just a minute.
But Bitcoin cannot create more than 21 million Bitcoin?
But, no, Jamie, the supply cannot go over 21 million,
unless a consensus of miners over 50% of the network,
51% or more,
agree to create more Bitcoin at the end,
which, by the way, won't be till 2140,
so we'll all be dead.
So, what is this guy even talking about?
He's just talking nonsense and drivel.
He's acting like the blockchain ledger technology is so great,
but then, on the other hand, he's saying,
well, even though it's immutable and it's transparent,
and everything about it is good, blockchain,
Bitcoin is not.
But yet it's the power of the ledger that locks Bitcoin into the 21 million!
So it makes absolutely no sense.
But we know he's got quite the history of doing this before.
Here's Dimon's many takes on Bitcoin.
Back in 2014, "Bitcoin is a terrible store of value."
November 5, 2015, "Bitcoin will not survive."
"Bitcoin is going nowhere."
"Bitcoin is a fraud."
"I'm not going to talk about Bitcoin anymore."
"I regret making that comment."
Look at this.
As its starting on its way down from the 2017 bull market,
that's when he says,
"Oh, man, I regret making that comment. I guess it's good now."
Boop!
And then here, it says,
"I don't really give a," you know, "a hoot about Bitcoin."
That would have been 2019.
So he's got a history of saying a lot of stuff.
And he just looks stupid.
But the question is,
is he doing this for a reason?
Is he trying to FUD Bitcoin for a reason?
Of course, we have this.
JPMorgan spinoff Kadena hits all-time high after rising 210% in a week.
That is back on November 7, 2021.
Kadena, a project we've talked about a lot of times on the channel,
this is a spinoff from JPMorgan.
We also know JPMorgan uses Quorum,
which is the private enterprise blockchain of Ethereum as well.
So check this out.
Here, we have Onyx by JPMorgan transforming the future of banking.
Onyx by JPMorgan is at the forefront of a major shift in the financial services industry.
Not the technology industry, the financial services industry.
We are the first global bank to offer a blockchain-based platform
for wholesale payment transactions.
Here we go.
Jamie Dimon again slams crypto, calls blockchain "real."
This is back from October 13.
The head of the largest US bank by assets spoke during an IIF event Thursday in Washington, DC.
You can see it says,
JPMorgan CEO Jamie Dimon surprised no one as he held the stage
at the Institute for International Finance,
again calling crypto tokens "decentralized Ponzis"
even as he praised aspects of blockchain technology.
Now, why are they doing this?
What is the goal?
What's the end goal here for Jamie Dimon?
CBDCs
That's the goal here.
What they want to do is they want to portray blockchain as being great for payments
but Bitcoin and other crypto coins are not good.
They're decentralized Ponzis.
Yet, them and the US government are involved
with running the biggest Ponzi in the history of the world,
which is called fiat currency.
All this is taking place, of course, in Davos, where they're having the World Economic Forum.
Now, remember,
Jamie Dimon,
he only speaks to people that are the mainstream media.
He goes on CNBC and he makes these comments because you know what?
They try to orange pill him, but at the same time,
they're just patting him on the butts saying, "Thanks for coming on the show, Jamie."
I'm going to leave you guys with this.
Here's Klaus Schwab, who's in charge of the World Economic Forum,
showing you only media that fits their narrative is who they'll talk to.
Chairman Schwab!
I'm from Japan.
- May I ask you for-- - From?
- I'm from Japan. - Yeah?
And may I ask you for a comment?
- No. No, thank you. - We're on our way to the next thing.
- We're a bit late. But thank you. Thank you. - Well, I can just walk with you
- and then ask questions. - I think we're going to--
we're going to rush actually, but thank you.
Thanks very much.
- But-- - Which media are you with?
- I am an independent journalist from Japan. - Yeah. No, thank you very much.
- I have to rush. Thank you. - Yeah. Yes. But--
- Thanks for-- thank you. - May--
- Do you know the voice that worry about globalism? - Thank you. Thank you.
- Thank you. Thank you. - There are many concerns.
Nice evening! Thank you.
Thank you.