JP Morgan Chase and Co is one of the biggest banks in the world.
Cryptocommunity may mostly remember their CEO saying that he will fire any of his company workers who trade Bitcoin. He also said BTC is a fraud that will die.
Lately he started saying he regrets calling Bitcoin a fraud.
Now sides changed but funny how Reuters just said how JP Morgan is getting sued.
The reason is in January it stopped letting customers buy cryptocurrency with credit cards and began treating the purchases as cash advances.
The fees were as high as 20-120USD range during this time.
JP Morgan Stock Trading
Be aware (i told that many times) that you can anonymously trade stocks and forex with cryptocurrency on SimpleFX. This is their chart for JP - so far this lawsuit didnt do much damage. Its worth having account and some BTC/BCH/LTC/DASH (they allow all those) just in case something important happens and you need to long or short stocks. THery have BTC and others too.
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stop spamming posts please
I guess the bots don't listen that much do they?
these banks are all crooks let them all BURN!!!!!!!!!!
evil banks are the reason why bitcoin (and crypto, in general) got invented.
This is for JP Morgan
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There is something to be said about Karma. It's a bitch sometimes and it has it's teeth in JP Morgan's ass. Hopefully we'll see it bite off a chunk.
JP Morgan is saying something and doing just the opposite it simply is scared of BTC gaining central monetary place
It's a waste of time and money sueing them.The bank will find a way to neutralize it. At least they changed their stance on Cryptocurrencies so it's not all bad
This is no surprise, they are use to lie and deceive every time they open their mouth, always looking for little tricks to f*ck with people
True.
News is really new but Betquin became the currency most countries want to fight and America neglected
We do not know what Hua her future
JP Morgan has gone from “bitcoin is a fraud” to comitting bitcoin fraud.
Life comes at ya fast
Saw the article. This is absolute fraud and while the number of people suing is not known to me, but i am sure they have defrauded plenty of people. When it seems fit, everyone who does not think of bitcoin as a currency begins treating it as one. Specially in this case - bitcoin purchase was equated to a cash advance.
Banks havent learnt their lesson since 2008. Still defrauding customers every chance they get.
Great article and very informative, thanks for sharing. I've smashed the upvote button for you!
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This shouldn't hold water and this story isn't complete.
A cash advance is a way to get around chargeback the concerns with credit cards, which is the leading problem when paying with a credit card and sending someone an immutable currency. JPMorgan, like Coinbase (also does this now), if faced with a chargeback and don't win, lose out on the money if they're unable to recoup it from the customer they sent, say, Bitcoin to.
Coins mentioned in post:
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Nice post, really helpful thanks again
If is one of the biggest.... they know what to do to maintain their power. Now they are doing this, tomorrow who knows....
The banks are threatened by Crypto and at the same time continue to rip off their customers. JPM and other banks left wake in their path during the housing crises and the abuses continue.
Weel done a hit to one of the biggest thieves in the world. Great reading ty
I was not aware of this information, it was very surprising, but it was also expected, thanks for sharing
Regrets come at late that's what they say. Maybe he's not the only who's now regretting calling Bitcoin a fraud. Others just don't wanna admit it maybe because their image is at stake.
Until the peasants say no more, they will continue to rape them. As long as the peasants go out and demonstrate against capitalism maaaan..and push government and regulations and antifreedom ahead of them, while proclaiming to be "anarchists" or "antiracists" or whatever misunderstood term of their choosing..they will always just be peasants.
Unless people understand that freedom and opportunity means responsibility and hardship and work..they will always be peasants.
same thing is happening my country India , our govt. has siezed bank account of Fiat excanges like zebpay and other exchanges
Lets hope something good in future
JPM moral compass is beyond broken.
These institutions must just accept the crypto reality before it forces itself upon them.
Market has been morganised
JP Morgan has had their share of backlash and trips to the court in relation to cryptocurrency, not to mention their contribution to the 2008 Housing Crisis... At Blockbasis we recognise that as the cryptocurrency blockchain matures, so will the fraudsters that aim to cheat many investors. Though this will not last for long as there are many strong forces working towards eliminating these problems. This stands as yet another example of big banks taking advantage of unknowing consumers in an effort to get rich off the unsuspecting.