“The Feds Need to Close Down Bitcoin” – JP Morgan CEO
TL;DR
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JP Morgan CEO, Jamie Dimon says the Feds ought to ‘shut down’ Bitcoin. Bizarre factor is, JP Morgan have their very own cryptocurrency…so why would he say this?
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We will not make certain with out coming into the thoughts of Jamie himself, however from the place we’re standing – it stinks of regulatory seize.
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The regulatory seize playbook goes like this: You will have a competitor → you sic the regulators on them → the regulators reduce/destroy their enterprise → your corporation begins capturing the worth left behind.
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The cheek!
Absolutely the nerve!
JP Morgan CEO, Jamie Dimon says the Feds ought to ‘shut down’ Bitcoin.
Which is not that scandalous at first look – your gold bug of an uncle has been saying the identical factor for years…
However your uncle Terry does not run a blockchain with its personal cryptocurrency, Jamie Dimon does.
So what’s up with that?
Properly, we won’t make certain with out coming into the thoughts of Jamie himself, however from the place we’re standing – it stinks of regulatory seize.
The regulatory seize playbook goes like this:
You will have a competitor → you sic the regulators on them → the regulators reduce/destroy their enterprise → your corporation begins capturing the worth left behind.
For instance:
As an instance you’ve got simply began a Search Engine.
You might promote it the quaint method…
OR, you can go to regulators, declare that Google has a monopoly on Search, get regulators to interrupt Google’s Search enterprise up, then swoop in and fill the void.
Jamie’s name for the feds to ‘shut down’ Bitcoin is beginning to really feel veeeery handy now, no?
