Wednesday, September 13, 2017

JPM is still not explaining crypto in the correct terms

JPMorgan Goes In On Bitcoin: Kolanovic Asks "Are Cryptocurrencies A Pyramid Scheme?"

Their clients are asking about bitcoin, etherum and bitcoin cash.  JPM has to distinguish between crypt technology and monetary standards.   

Crypto is not all block chain we have a crypto coin based on the gold standard, we have dollars being shipped around in crypto format and we have a full crypto coin tethered to the dollar.  All crypto, none of them bitcoin derivatives.

I cannot day what the ultimate value of bitcoin will be, but I can tell you that most, not all, but most purchases will be using the crypto format in a few years,  Crypto is just too efficient and secure to ignore as a transaction technology.

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