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re: Why is Bitcoin soaring?

Posted on 2/29/24 at 8:10 am to
Posted by UltimaParadox
Huntsville
Member since Nov 2008
44301 posts
Posted on 2/29/24 at 8:10 am to
Dimon didn't endorse Bitcoin.

Just take a look at tether's supposed market cap in this pump cycle
Posted by UltimaParadox
Huntsville
Member since Nov 2008
44301 posts
Posted on 2/29/24 at 8:26 am to
quote:

Can you post his actual comments?


quote:

Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum.


quote:

“I call it the pet rock,” Dimon said.
quote:

The bank chief said in 2021 at peak crypto valuations that bitcoin was “worthless,” and he doubled down on that sentiment last year in Davos when he told CNBC that the digital currency was a “hyped-up fraud.”


quote:

he added that there were real use cases for the virtual coin, which included upward of $100 billion a year caught up in fraud, tax avoidance and sex trafficking. “I defend your right to do bitcoin,” Dimon added, saying, “I don’t want to tell you what to do. So my personal advice would be don’t get involved. … But it’s a free country.”


quote:

Dimon added. “But you know this is what makes a market. People have opinions, and this is the last time I’m ever going to state my opinion.”


CNBC From Jan 2024

Seems pretty clear to me
Posted by LSU Grad Alabama Fan
369 Cardboard Box Lane
Member since Nov 2019
11545 posts
Posted on 2/29/24 at 8:33 am to
quote:

Why is Bitcoin soaring?



Rich men like to use it for hard to get escorts.
Posted by SlidellCajun
Slidell la
Member since May 2019
12271 posts
Posted on 2/29/24 at 10:16 am to
quote:

Seems pretty clear to me



Dimon has been a vocal critic of Bitcoin. That’s well established for anyone that pays attention to what he has to say.

My request was to Ohio who commented that the rise in price was to do with Dimon’s endorsement of bitcoin.

Where has he said that he endorses it?
Posted by SlidellCajun
Slidell la
Member since May 2019
12271 posts
Posted on 2/29/24 at 10:19 am to
quote:

He says that he regrets calling Bitcoin a Fruad.


Can you post the actual quote?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81179 posts
Posted on 2/29/24 at 10:23 am to
The problem you have is that no matter how many times someone says Bitcoin is not a currency, you still view it as a currency. Until you learn to let that media labeled term go, you will have trouble grasping it.
Posted by 21JumpStreet
Member since Jul 2012
14706 posts
Posted on 2/29/24 at 10:39 am to
People learning the technology and what it means for mankind which is increasing buying.
Posted by I Love Bama
Alabama
Member since Nov 2007
37922 posts
Posted on 2/29/24 at 10:47 am to
quote:

The problem you have is that no matter how many times someone says Bitcoin is not a currency, you still view it as a currency. Until you learn to let that media labeled term go, you will have trouble grasping it.


I still think this is where we end up. However, back to your point...

All someone has to do is read "The Bitcoin Standard".

There is a perfect correlation with people who "get" Bitcoin and hold some with those who have read the book.

I have yet to meet one person who has read the book who is a Bitcoin critic.

It takes time, energy and a child like curiosity to understand what the hell it is.
Posted by slackster
Houston
Member since Mar 2009
87780 posts
Posted on 2/29/24 at 11:00 am to
quote:

There were more individual trades in BTC ETFs yesterday than SPY. Keep in mind this is before options..


I assume this was just SPY and not all S&P 500 ETFs, but still impressive.
Posted by Art Blakey
Member since Aug 2023
211 posts
Posted on 2/29/24 at 11:24 am to
quote:


I still think this is where we end up. However, back to your point...

All someone has to do is read "The Bitcoin Standard".

There is a perfect correlation with people who "get" Bitcoin and hold some with those who have read the book.

I have yet to meet one person who has read the book who is a Bitcoin critic.

It takes time, energy and a child like curiosity to understand what the hell it is.


aka, proof of work
Posted by jizzle6609
Houston
Member since Jul 2009
7250 posts
Posted on 2/29/24 at 11:48 am to
A lot of folks who cannot afford to lose money are going to get mopped up if they are in this too deep.

frick sharks, watch for the whales.
Posted by SlidellCajun
Slidell la
Member since May 2019
12271 posts
Posted on 2/29/24 at 12:28 pm to
quote:

The problem you have is that no matter how many times someone says Bitcoin is not a currency, you still view it as a currency.


lol
Of course I view it as a crypto currency. Why wouldn’t I?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81179 posts
Posted on 2/29/24 at 12:40 pm to
quote:

Of course I view it as a crypto currency. Why wouldn’t I?

Because it isn't? Because the creator of it never mentioned it as a currency?

Why would you? What makes you think it is a currency?
Posted by JAMAC2001
Member since Jan 2013
2840 posts
Posted on 2/29/24 at 2:30 pm to
After all this time, I still cant go to my local grocery store and use it for purchases.
Posted by The Baker
This is fine.
Member since Dec 2011
16423 posts
Posted on 2/29/24 at 2:38 pm to
quote:

After all this time, I still cant go to my local grocery store and use it for purchases.


Along with infinite other assets
Posted by donRANDOMnumbers
Hub City
Member since Nov 2006
17070 posts
Posted on 2/29/24 at 2:48 pm to
all i know is i have once again missed the buy.

i lost a lot shitcoining.
if i would have just put everything i've had from the beginning into BTC or ETH and left it, i would be close to 7 figs.

im dumb
Posted by SlidellCajun
Slidell la
Member since May 2019
12271 posts
Posted on 2/29/24 at 3:07 pm to
quote:

Because it isn't? Because the creator of it never mentioned it as a currency?



lol

Ok. And so is what?

You realize that, despite what you think, and despite what you believe the originator of bitcoin intended, that it is being used as a digital currency right?
You also understand that it is priced as a digital currently right?
This post was edited on 2/29/24 at 3:36 pm
Posted by JAMAC2001
Member since Jan 2013
2840 posts
Posted on 2/29/24 at 3:22 pm to
quote:

After all this time, I still cant go to my local grocery store and use it for purchases.


Along with infinite other assets


Are we supposed to forget how a few years ago the bitcoin pumpers told us how it would be able to be spent on everyday purchases?

So now its basically just gold?
Posted by ynlvr
Rocket City
Member since Feb 2009
4785 posts
Posted on 2/29/24 at 4:11 pm to
Stay away. It’s not for you.
Posted by LordSaintly
Member since Dec 2005
39540 posts
Posted on 2/29/24 at 4:35 pm to
quote:

Are we supposed to forget how a few years ago the bitcoin pumpers told us how it would be able to be spent on everyday purchases?


Never happened
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