Investing and Cryptocurrency?

JPM Coin is not even a coin lmao just a fake knock off, it has 0 to do with crypto and more so a marketing ploy. But banks are looking into crypto.

 

JP Morgan tries to brand their "JPM Coin" as a cryptocurrency, but in reality is far from it. One of the most prominent and IMPORTANT features of a blockchain-based currency is that consensus is maintained publicly through a democratic manner. This is known as decentralization- where there is no central entity running the system.

JPM Coin fails in every aspect because consensus is maintained PRIVATELY. They own all the means of block propagation (fully centralized), so therefore they have the ability to rewrite, delete, or modify data on their "blockchain" at their leisure. All in all, JPM Coin is no different than the digital fiat money banks lend out.

 

My Thoughts Exactly! This is a sham.

 

JPM Coin is an absolute joke. however they know no matter how stupid, because they are established they can launch almost anything and it will gain traction, even if for a short period of time.

 

Your guys' tribalism will get you nowhere. Big banks like JPM aren't going to use some shitcoin that they'd be paying premiums for from a bunch of sheep. That's not how central banking works, you should learn it first.

 

I am not arguing any of that. I don't think you understand that JPM is not even using a coin! it is just misleading the public. Also for your information the whole idea of centralization goes against the whole concept and fundamentals of cryptocurrency and Blockchain. So in essence JPM coin is bullshit and to be more specific it is more bullshit than the "Shit coins" you mentioned. Also you mentioned sheep but the only sheep here is the one defending JPM to the death even if it means blindly believing that they actually offer a legitimate cryptocurrency offering.

If you are arguing that the banks will have their own cryptocurrency offerings, that is not what any of us are arguing. Any bank can do whatever they want. No one disagrees with that. But what we are saying is JPM coin is not a real cryptocurrency. If I call dogshit "gold" it doesn't mean dogshit is now gold. Another bank might come out with a REAL cryptocurrency where the underlying technology is inline with what makes a cryptocurrency a cryptocurrency. But in the case of JPM it is just a blatant attempt to call dogshit as cryptocurrency and mislead people. It's just a marketing ploy with buzz words. Instead of telling us to learn about centralized banking how about you learn about cryptocurrency.

 

Centralization leads to efficiency. All systems are centralized, even those in your beloved crypto world. "Decentralized" is a false hope they give to get everyone to buy in thinking it'll be any different than the current centralized structure. I.e. Miners control what goes on with the coin. I'd call that centralization.

I'm not defending to the death LOL. Literally posted facts and that's it. You feel like you're beloved coins are getting attacked, so you have to defend them. I'm fine if JPM coin or any other coin goes to 0, it won't ruin my world.

Like I said, sheep will be sheep.

 

Yes I agree centralization leads to efficient manipulation by governments who are printing money out of their ass. Decentralization is happening and it is the future like it or not. Miners do not control what goes on with the coin, the fact you think they do showcases your lack of understanding on this subject.

Second of all you did not post any facts, it's just copy pasted misinformation which also show cases that you are misinformed.

I agree with you. Sheep will be sheep, keep baaing on till your shepherd arrives.

 

There is only one valid cryptocurrency imo and that's BTC. Fun long term experiment. One day everybody will want to own a bitcoin!