Jamie Dimon calls Bitcoin a giant fraud, it crashes again

>DIMON: BITCOIN IS A "FRAUD"; "WORSE THAN TULIP BULBS"
>DIMON: BITCOIN WILL EVENTUALLY BLOW UP
>DIMON: BITCOIN WON'T END WELL
>DIMON: WOULD FIRE ANY TRADER TRADING BITCOIN FOR BEING STUPID

zerohedge.com/news/2017-09-12/bitcoin-tumbles-after-jamie-dimon-calls-it-fraud-would-fire-anyone-trading-it

Peter Schiff wins again.

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youtube.com/watch?v=XbZ8zDpX2Mg
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you seem to have mistaken Sup Forums for /biz/

Is now the time to buy

SHITCOINERS ON SUICIDE WATCH

Daily reminder that crypto-currencies are the future.

>bitcoin will crash any day now...

This is actually good for bitcoin.

Always is the time to buy.
>For those who "wasted their time" since Dimon's threat, Bitcoin is up 1,018%.

>open source currency that takes away the biggest power the jew posses

IT'S A FUCKING SCAM YOU DUMB GOYIM TRUST THE BANKS

Big surprise, the banker with the 20% drop in revenue is throwing another fit about cryptocurrencies he has no control over.

Poor (((Jamie Dimonberg))) and his diminishing bonus.

This pisses me off. He shits on bitcoin when I don't have any money to buy

Well crypto would put him and his ilk out of work, so it makes sense for him to say this.

Well he's right.
Open source currency the value of which is based on pure speculation and is not even used for everyday transactions.
It could still go up to 10-20k, but it's not going to be used as money or be relevant.

>worse than tulip bulbs
god damn "professional investors" are so full of their own shit

>not going to be used as money or be relevant

I use it as money every day though.

>value of which is based on pure speculation

Like Gold then?

Multiple retailers accept bitcoin.
If amazon started accepting it you can bet it would go up far more than 20k.

Shit better check his podcast of late, I do love his disputes with bitcoiners

Drugs don't count.
You're not going to buy stuff in stores with it due to the high fees and transaction times, you're not going to use it to pay taxes, you're not going to use it to hedge in times of economic uncertainty, etc.
Yes, but worse.
Don't fall for the "gold was always stable" meme, it behaves like any other commodity in the long term.
Amazon accepting it would have little effect on the price, they just convert it back to USD once the payment is received.

>crash
Just kys. You're too fucking stupid to see the fluctuations in Bitcoin. Up nearly 10x the value in 1 year. I don't hold any and nor would I buy at this point, but you're retarded.

Firstly, neither you or Jamie Dimon know what Fraud means. Secondly you don't know how to read charts, because it didn't crash, it barely went down.

I've never owned any but surely they have some kind of value since they're useful when you dont want your transactions to be traced.

>Drugs don't count

I get paid in BTC and use my xapo card to withdraw GBP. The fees are not that bad, better than being a bank cuck.

I pay my rent with bitcoin

This has been repeating since the start of bitcoin. I'll give it a week before everyone forgets and things return to normal.

gyft.com
bitpay.com

Bitcoin is a fraud. It's the absolute worst form of fiat and isn't back by anything at all. At least state endorsed currency is backed up by the existence of a state for fuck sake... Bitcoin is nothing. Diversify your portfolio with a strong preference for real estate.

Why dont we see the num ers down to 0? Why do graphs do this?

You sound like proper cuck tbqh senpai.

>a kike calls an alternative to (((fiat))) a fraud
Why am I not surprised?

This isnt 2011 anymore, many online retailers accept bitcoin

Do you keep your savings in bitcoin, do you buy groceries with bitcoin, taxes, etc?
The point is that as long as the govts don't accept it and the transactions and fees are not brought down it won't be "money".
You're still converting it to USD, the merchants aren't actually holding or receiving BTC.

hashing power confirming a decentralized ledger who's code is based on consensus across the world
take it or leave it

>This isnt 2011 anymore, many online retailers accept bitcoin
And it's worse than fiat.

>Canuck education

the ones that held btc are rich but not many do, overstock.com holds

>Alternative to (((fiat)))
Coiners are delusional

I sound like someone that holds tangible assets and demonstrable wealth. The only cucks are the ones that throw their money at fake currency and pretend they're well off because they can use it on two or three website to buy ona holes and girlfriend pillows.

its marketed as a crypto currency. it lacked a proper buy in phase. the fluctuations in the value are in the range of hundreds to thousands of dollars american . currencies fluctuate in the range of cents typically

and the final nail in the coffin people get bitcoins from "mining" a process by which your computers GPU guesses a shape. its a fucking artificial commodity with no capacity to be formed into anything or and cannot be eaten. a commodity that cant be used for anything has no real value

This

Even if the price dropped to 3300 i wouldn't consider it a crash as long as it bounced off that level

>ahaHAHAhA YOU CANT PAY TAXES WITH IT SO IT HAS LITERALLY NO VALUE AT ALL

I don't know or care about bitcoin but your graph indicates a less than one percent drop in bitcoin relative to gold

I sent 15k for 5 cents earlier today

>Do you keep your savings in bitcoin

Yes, it has served me well. I also have trading bots that help avoid volatility.

>do you buy groceries with bitcoin

Yes, I topup my xapo debit card with BTC then buy things.

>taxes

Fuck off commie.

watch this picture than kill yourself pls
it goes up and down

Bitcoin is the gold standard.

The Silver in this market is Etherium.

One is created out of thin air by politicians and bankers.

The other is created out of thin air by an objective and impartial system anyone can inspect and verify.

Take your pick.

lets meme drive down bitcoin so that we can all purchase it cheap then drive the price back up and cash out

He just wants to create volatility so that he can get in on a dip, because he's a moron who didn't get in early

Excellent news since Rhothschilds bought a shitload a while ago meaning they lost money, right?

I said it's not money, not that it has no value.
>Yes, it has served me well. I also have trading bots that help avoid volatility.
Well as long as you're not worried about it crashing overnight I suppose.
>Yes, I topup my xapo debit card with BTC then buy things.
You're buying things with GBP here.
>Fuck off commie.
One of the main reason money is money.

is this some sort of meme im not aware of?

I pick the one that is backed by a heavily armed state entity that has the power to end Bitcoin at its leisure... But you're making me choose between currencies as a form of investment.

I invest primarily in real estate. I turned a $23,000 down payment into $229,000 in less than two years. Bitcoin is cool shit and all, but my investment is fucking real... It's an object with inherent value, something that people can use.

Yours is bullshit.

youtube.com/watch?v=XbZ8zDpX2Mg
>ITT

You can also sell it for (a lot) more fiat than you bought them for.

too bad you can't turn it into real cash

BUY ON RUMOR, SELL ON NEWS!

Oh no it's only worth $4163 per USD now
Bitcoin btfo and so on

You can if you're not brainlet. I can sell my btc and get money transfered on my visa card right now. Or I can just go to darknet and trade it offline.

a professional conman telling me something is a fraud?

now is a good time to buy btc

Are we ever going to start using Ligthning in Bitcoin? I thought it would have been ready to run in some form or another as soon as Segwit became active

a heavily armed state entity has the power to end your ownership of real estate at its leisure
at least bitcoin has encryption that can't be cracked

you're choosing between a state enforced currency and free market when you compare the two

can I have some bitcoins? I am hungry and want to buy food

The fuck kind of real estate is that?

Do you mean you paid a mortgage after putting a down payment?

I remember when Peter Schiff told people to buy silver and a year later it was down 50%

i sold off some bitcoin to buy a fiat 500

There are these things called exchanges, such as whaleclub.io where you can trade crypto for cash - other currencies and even ETFs. Real pro's take it to the darknet for drugs and you can always turn drugs into cash.
I don't know why I'm wasting time telling you this after all you were born retarded.

shit isnt that every market

>mfw conservatives actually invested in gold

wow the bottom fell out of your bit coins. ohh oooooh ohh

It's gonna moooooon

Gold has uses outside of monetary exchange. It's used for jewelry and plating objects to prevent corrosion. Bitcoin has no value other than what people ascribe to it; it's a speculation bubble and when it drops next time hardcore on a major recession there is no indication that it will survive. There are a basket of shitcoins now with better technology behind them that could take over from Bitcoin or spread between the entire lot. BTC only survived the last crash because it was the only serious one in the market. There is no real assurance it would survive another major crash this time and any belief that it's going to hold value when the dollar or other major currency takes a shit is just pure cult worship. Go look on stocktwits and see how many morons hype stocks and proclaim "it's going to go up today huge pop HUGE" and realize that BTC has merely gathered all of these dullards into a single place hyping the same shit.

BTC is a fucking cult.

This. Anybody who says differently is a fat NEET who's never had any real life experience managing money and assets.

>It's an object with inherent value, something that people can use.
So you think currency in general is useless?

4163USD I mean, durr

Reminder that you can literally trade your bitcoin in to MICROSOFT and they will pay you back for it on a card.

Microsoft.com/ then go to accounts and payment options.
Bitcoin is there

>put your savings in buttcoins they said
>its the future they said
And here I am now meme'd to death.

Maybe you could have bought some good taste first faggot. Are you that cuck looking beta with the poser tattoos and the purple rims on you squawk box abbarf?

western countries regularly appropriate land forcefully for false crimes and otherwise

property tax on primary residences jis also abject theft. 2%property tax amounts to resale of the property to the state over a 20 year horizon

>it crashes again
no it didn't. bitcoin frequently goes up and down a few hundred dollars every single day. something like this doesn't qualify as a crash. it's still hanging around the 4000 area where it has been for a while. going up to 5000 was a very shortlived oddity, but it will climb back up soon.

that said, I hope schiff is right about it and I hope it dies already because crypto seems like a much more blatant example of creating money out of thin air than even fiat does

I'm sick of talentless, lucky fucks """"investing"""" money in bitcoin and actually making a profit because what they're actually doing is just speculation. they aren't creating wealth in the world, they're just making money off suckers

fuck crypto. get a real job cryptofucks

>at least bitcoin has encryption that can't be cracked
Preventing people from buying things with it/converting it into money has the same effect.
Banks report most of your activity to the govt. for tax purposes.

Maybe you could have bought some good taste first faggot. Are you that cuck looking beta with the poser tattoos and the purple rims on you squawk box abbarf? You look gay as fuck, btw. And you got burned by 01 crv LOL

>down 1.6% for the day

ITS ALL OVER ITS ALL OVER SELL SELL SELL AHHHHHHHH

fucking retards ITT holy fuck

>Jamie Dimon
>credible
Might as well cited George Soros.

>crash
>goes down 1%

fix it again tony. people dont actually buy those death traps. ez bait

he said crash, i was expecting it to be back to 500€ still 3400+


FUCK YOU OP, FUCK YOU!

>Preventing people from buying things with it
bitcoin literally gained notoriety from trading controlled substances and information so the government really doesn't have that kind of power.
There's always have been a demand on localbitcoin which can be either cash trades at coffee shops to cash deposits into bank accounts to trading giftcards etc.

the government can flag you for literally anything due to the 1000s and 1000s of pages of law
bartering is illegal in america if you don't report the exchange to the IRS so it's really something that the government can't keep up with.

my back wasn't all itch till i got in this bitcoin thread.

Its like im really on /biz/

FAKE NEWS

Accidentally the whole post again.

I drive an 87 MR2 and I hate this one guy with those fiats

hey real estate leaf, i remember you, who in the fuck are you, always saying real estate is a better investment, this is all debatable, literally one of the most recognizable posters here

>1.5% fall
WOW IT'S FUCKING NOTHING
AND PETER SCHIFF IS A KIKE

How do I buy bitcoin?

Isn't it obvious the Jew hates btc because it takes the power away from banks and the kikes? Anybody who shits on cryptocurrencies is an obvious jidf shill

>>DIMON: WOULD FIRE ANY TRADER TRADING BITCOIN FOR BEING STUPID

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

HOW WILL /BIZ/ EVER RECOVER?

How so

>People say something bad about bitcoin
>price plummets
Why are crypo-traders such pussies.

you don't buy them, you find them.

They are thrown out of helicopters at random over various towns, cities....etc. Lucky people who find them can cash them in at any retailer who accepts bitcoin.
Best way to do it is buy a metal detector with headphones and sweep gutters and alleys that where most people don't typically go.

It derives it value from providing liquidity for illegal transactions, essentially acting as a vehicle for money laundering. If and when criminal enterprises find a method that returns more cents on the dollar when converting to hard currency they'll switch, and BTC will implode.