Jamie Dimon Should Do ‘Some Homework’ on Crypto, Says Blockchain Capital VC

Jamie Dimon should do ‘some homework’ on crypto, says Blockchain Capital VC

  • Bart Stephens is the co-founder and managing partner of Blockchain Capital, the oldest and most active venture capital firm dedicated to blockchain technology and the cryptocurrency ecosystem.
  • “We’re not betting on the price of Bitcoin, we’re betting on the adoption of blockchain technology,” Stephens says.
  • While Jamie Dimon was making those comments, I was an invited speaker at JP Morgan’s offices in San Francisco to give a talk with other fund managers and clients of JP Morgan who are really curious about cryptocurrencies and the underlying blockchain technology.
  • But I would note that for every negative Jamie Dimon, I could point you to two positive Wall Street CEOs like Lloyd Blankfein at Goldman Sachs and Abigail Johnson at Fidelity, who are making constructive comments on both cryptocurrency and the blockchain.
  • There’s a deafening silence coming from Sand Hill Road when it comes to blockchain technology, cryptocurrencies, and certainly ICO technologies.

Jamie Dimon Should Do ‘Some Homework’ on Crypto, Says Blockchain Capital VC
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Blockchain Capital founder: Jamie Dimon is a hypocrite about bitcoin

  • JPMorgan CEO Jamie Dimon has been publicly dismissive of bitcoin, calling it a “fraud” that will not survive.
  • “It’s just not a real thing, eventually it will be closed,” Dimon said at the Delivering Alpha conference in September presented by CNBC and Institutional Investor.

“It is not a Ponzi scheme. It’s a robust technology that is going to impact multiple industries,” says Bart Stephens, co-founder of Blockchain Capital.

Continue reading “Blockchain Capital founder: Jamie Dimon is a hypocrite about bitcoin”

Blockchain Capital founder: Jamie Dimon is a hypocrite about bitcoin

  • JPMorgan CEO Jamie Dimon has been publicly dismissive of bitcoin, calling it a “fraud” that will not survive.
  • “It’s just not a real thing, eventually it will be closed,” Dimon said at the Delivering Alpha conference in September presented by CNBC and Institutional Investor.

“It is not a Ponzi scheme. It’s a robust technology that is going to impact multiple industries,” says Bart Stephens, co-founder of Blockchain Capital.

Continue reading “Blockchain Capital founder: Jamie Dimon is a hypocrite about bitcoin”

Don’t dismiss bankers’ predictions of a bitcoin bubble – they should know

  • Jamie Dimon, the chief executive of JP Morgan, said last week that the ascendancy of the virtual currency bitcoin – which has risen in price from just over $2 in 2011 to more than $4,000 at points this year – reminded him of tulip fever in 17th-century Holland.
  • Taking out a mortgage denominated in bitcoins is not advisable and, luckily for those stupid enough to try it, you won’t find a high street bank willing to underwrite it.
  • But some of the perceived flaws behind bitcoin that alarm Dimon – no central authority, a public ledger of transactions – point to the foundations of a new financial establishment.
  • Dimon, a modern high priest, faces a rival value system in bitcoin.
  • Households might cope with a move to 0.5%, but if a rate increase augurs a sustained move against cheap borrowing and persistent inflation, then a wider rethink of ambitions, from getting further up the housing ladder to buying a new car, will be needed.

The virtual currency’s success reflects the continuing lack of trust in traditional banking following the credit crunch
Continue reading “Don’t dismiss bankers’ predictions of a bitcoin bubble – they should know”

The National Bank of Canada Just Joined An Alliance to Develop Ethereum

The Bank of Canada Just Joined An Alliance to Develop Ethereum - Motherboard  #Ethereum

  • On Monday, the Enterprise Ethereum Alliance announced 86 new members that will work together to develop business applications on the Ethereum blockchain, including Toyota, Deloitte, Samsung SDS, and the National Bank of Canada.
  • But while bitcoin has become a haven for speculators trying to win big by trading coins, Ethereum’s promise is that its blockchain—the public ledger that records all transactions—is chiefly a platform for developing apps, powered by economic incentives.
  • Read More: The Bank of Canada Slipped the Konami Code Into a Bank Note Announcement

    The alliance, which was founded in February of this year, is a global foundation with more than 100 members which include financial institutions like JP Morgan, Credit Suisse, and Banco Santander.

  • The bank ran a pilot using an in-house digital currency to conduct interbank transactions on a blockchain in 2016, snubbing the existing bitcoin currency.
  • Ethereum still might not be as valuable as bitcoin (one coin is worth over $2,000 USD at the moment, while one denomination of Ethereum, called ether, is worth $163), but it could be a whole lot more useful for banks.

Why not bitcoin?
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JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise

  • JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise
  • JP Morgan expects Scotland to split from Britain and establish its own currency.
  • Willie Fleming, director of the Scotcoin Project, an organization meant to promote and disseminate the cryptocurrency Scotcoin to the people of Scotland, concurs with JP Morgan’s stance on a successful independence referendum happening in the near future.
  • You’ll get 2000 satoshi for each new reader at the first 2 hours after article publishing and 1000 satoshi after this.
  • “The question of fiat currency is more complex and much will depend upon the relative performance of the pound and euro over the next few months.

Read the full article, click here.


@NextLevelFlash: “#Read – “JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise” #Bitcoin #New #BTC #Upd…”


JP Morgan expects Scotland to split from Britain and establish its own currency. Could Scotcoin, the Scottish cryptocurrency, rise to the top?


JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise

JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise

JP Morgan Expects Independent #Scotland, New #Currency, Bolstering #Scotcoin’s Rise

  • JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise
  • JP Morgan expects Scotland to split from Britain and establish its own currency.
  • Willie Fleming, director of the Scotcoin Project, an organization meant to promote and disseminate the cryptocurrency Scotcoin to the people of Scotland, concurs with JP Morgan’s stance on a successful independence referendum happening in the near future.
  • You’ll get 2000 satoshi for each new reader at the first 2 hours after article publishing and 1000 satoshi after this.
  • “The question of fiat currency is more complex and much will depend upon the relative performance of the pound and euro over the next few months.

Read the full article, click here.


@CoinTelegraph: “JP Morgan Expects Independent #Scotland, New #Currency, Bolstering #Scotcoin’s Rise”


JP Morgan expects Scotland to split from Britain and establish its own currency. Could Scotcoin, the Scottish cryptocurrency, rise to the top?


JP Morgan Expects Independent Scotland, New Currency, Bolstering Scotcoin’s Rise