This needs to stop. A supporter of Bitcoin vs coins JPMorgan

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2019-03-03 13:30:08

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This needs to stop. A supporter of Bitcoin vs coins JPMorgan

One of the largest U.S. Bank JPMorgan JPM own cryptocurrency Coin. The news triggered a lot of criticism and hype cryptosuite, as the Bank's CEO Jamie Dimon has long had the reputation of a staunch opponent of Bitcoin. Not so long ago Anthony Pompliano in his podcast Off the Chain shared his thoughts about the currency and its stated methods of application. It will be based on a private blockchain and backed by the U.S. dollar in a 1:1 ratio.

When Mr. diamond was asked how he sees the future of the JPM Coin, he said that once the retail consumers will use it for everyday payments. This statement is very different from what actually was meant for this coin.

According to the Bitcoin supporter and co-founder of Creek Digital Capital, JP Morgan a much more daring plans to capture the market. Pompliano, suggests that the coin Bank will be successful enough to suchevane its institutional clients and partners to conduct transactions. And after companies will sit down to a Coin JPM, the Bank will distribute it and retailers.

As soon As JPM Coin will gain sufficient acceptance, JP Morgan will come up with a clever reason to temporarily move away from the concept of dollar liquidity. Remember how Nixon in 1971, argued that the dollar is necessary to briefly deviate from the gold standard?

According to Paliano, thus the Bank will have full control over the digital currency. In this case, despite wide acceptance, JPM Coin will not be able to boast of a sufficient level . And since a peg to the dollar be devalued, the Bank will be able to print as many blank digital coins.

I think we should do everything possible to resist this.

More data to search for .

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