now we are all in pretty young in this crypto space i reckon cause no mainstream adaption as of yet (but we be getting there tho) but we got these fucken good for nothing mainstream news telling us shit like this.
note: i will not go over every thing said in the "news" article (more like corporate propaganda) but if any discrepcies appear in my little rant please tell me. read the article below too.
http://www.smh.com.au/business/markets/jpmorgans-jamie-dimon-says-bitcoin-is-a-fraud-20170912-gyg7de.html
"New York: Bitcoin "is a fraud" and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co , said on Tuesday.
from article:
Speaking at an investor conference in New York, Dimon said, "The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.""
look at this Sydney morning herald spreading fud (fear, uncertainty and doubt) trying to stop these early investors from getting in on it not providing any evidence. funny enough in Australia there is a large crypto presence online.
from article:
Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system.
Dimon said that if the supply were actually limited to 21 million bitcoins, it might be useful to drug dealers and murderers and people in countries with exceptionally unstable currencies.
That would be "a limited market," he said. "It is worse than tulips bulbs."
look at this as Sydney morning tries to push its ideals onto us with a "well known trusted person" , this person saying that bitcoin is only good for drug deals and murderers in shitty countries is just fear mongering, its almost like this person has a personal agenda cause if crypto replace cash someones banks gonna get fucked. what a claim tho its useless except for these low lives who drug deal and murder, can't the same thing be done with us dollars (biggest funder of terrorist) or any other or even video game items. the distances this guy and the article tries to create from the users of cryptocurrencies and regular people is so damn extreme like lets put then into a group and shame then. its like this guy knows nothing, crypto can help with inflation avoiding banks due to bad credit or what ever reason any many other applications (e.g eth smart contracts and other mumbo jumbo). these articles just only refer to bitcoin to the point where any one i talk to (in sydney) just thinks there only one cryptocurrency and reckon that its for drug dealers and such and then view me in some sort of "mr.robot" group or worse.
here comes the juicy conclusion:
Dimon predicted big losses for bitcoin buyers. "Don't ask me to short it. It could be at $US20,000 ($24,950) before this happens, but it will eventually blow up." Dimon said.
"Honestly, I am just shocked that anyone can't see it for what it is."
to say that is ridiculous how does one go about making a prediction like that what kinda math power he got on his side like some crazy quantum computer that can simulate whole fucken economies, well i want one of then. if there is a crash at $20,000 well we know who did it now, its must be a fucken engineered dump of the price for someone or people (wonder who) to buy in again. he is shocked that no one can see what it truly is, well fucken same here its a way to free the people from debt to avoid freedom crushing governments, have a sense of privacy with certain coins (e.g monero or whatever floats ones boat) and best of all freedom from the ever increasing sea of inflation we all try not to drown in cause there will come a time where shit gonna go down (e.g wars, trade wars yea china whooooo, and such and such) this nut job does not give any evidence at all for these claims.
hope this made sense
moral of the story look into crypto and economics and shitty politics.