Max Keiser became the latest in a long line of crypto pundits to criticize Jamie Dimon and JPMorgan’s JPM Coin. He also suggested that the announcement of Dimon’s new centralized stable-coin had spurred the latest price rally.
Never Bring A Noodle To A Knife Fight
In his , Keiser liked Dimon’s arrival on the crypto-scene holding JPM Coin, to “show(ing) up to a street fight… armed with a wet noodle.”
JP Morgan’s Jamie Dimon showed up to a street fight with armed with a wet noodle called JPM Coin. The market took one look and started buying aggressively. Wall St. will never catch up to ’s crypto dominance as it vies for global reserve status.
— Max Keiser, tweet poet. (@maxkeiser)
He suggested that the mere thought of JPM Coin (one assumes the ‘alternative’), convinced the market to aggressively buy . The past week has seen the price rally from around $3600, firstly up to the $4000 mark, then again to briefly hit $4200.
Join The Queue, Buddy
Since its unveiling on , JPM Coin has received its fair share of (varyingly) constructive criticism.
CEO, Brad Garlinghouse, …
misses the point – introducing a closed network today is like launching AOL after Netscape’s IPO.
…but then he would, as would appear to have most to lose if it is a success.
Nick Szabo likened the to Maduro’s Petro in Venezuela, due to the levels of trust required to use it.
There were those who insisted that by definition, the not open-and-permissionless JPM Coin shouldn’t be called a at all. Perhaps surprisingly, one of these people was notorious -sceptic, Nouriel Roubini, causing some crypto-lovers to start questioning their own beliefs.
In which way has the new alleged JPMorgan crypto coin anything to do with /crypto? It is private not public, permissioned not permissionless, based on trusted authorities verifying transaction not trustless, centralized not decentralized. Calling it crypto is a joke
— Nouriel Roubini (@Nouriel)
Where I Come From That’s Fighting Talk
Jamie Dimon has had a fraught relationship with the community, after calling a “fraud” back in 2017. He later had a change of heart, saying his words, presumably when realizing that there was money to be made.
Keiser has remained consistently unimpressed with Dimon. In an last December, while espousing his belief in , he urged us to “leave alts to dickheads like Jamie Dimon.”
Do you agree with Max Keiser? Share your thoughts below!
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Published at Sun, 24 Feb 2019 16:40:01 +0000
