#jpm enthusiasts!

[vizjpmdose]

when the jpm fandom so small that almost everyone who posts about him is my moot and we can fit in one house

[taintandviolent]

this is for your character x kink prompt, i’m not sure if you’re still accepting requests

JPM x him worshipping you (I don’t know exactly what the kink would be called)

written to this (very short, sorry!)

The record crackled in the corner of the room; soft, melodic jazz drifting out from the phonograph's trumpet. The morning sunlight peeked in through the crack in the curtains, and it was these lazy days where James was uncharacteristically demure in nature. Miss Evers was shunned from his bedroom, ordered to polish every light fixture in the hotel, or something else tedious in nature. Something that would allow both of you to enjoy uninterrupted time together. James rarely liked to be bothered when he was working; this was no exception.

His large fingers explored the curve of your thighs, squishing down between them to feel the soft meat that resided there. Gradually, he gripped the skin there until you protested with a soft mewl; he'd been too enthusiastic and dug his fingers in too deep.

"Exquisite," he murmured into the curve of your side. Goose flesh erupted over your torso at this tender whisper, as it had every time he murmurously spoke into your skin. Any insecurities were blown away with the gentle huff of his breath as he peppered tiny kisses along your stomach.

"Marvellous." he said between your breasts. Your eyes opened, lids heavy with arousal. Your hand lifted to his hair, petting it tenderly.

Somehow, there was still a sinister connotation to his actions; like he was surveying you a little too closely; the way he lingered any time your body made a sound -- the thump of a heartbeat, the thud of a pulse or a hitch of breath. He'd focus hard for a moment with his jaw clenched before resuming his exploration. But you always took it at surface-value; he was worshipping your body, paying every inch it attention.

And that, for now, was what mattered.

[tea-with-evan-and-me]

OMG, i would eat this up. just seeing him styled in such a way, because he's so lowkey himself. imagining evan in a less traditional style suit with his hair styled.. yes pls.

Between JPM’s 1920s styled attire and Mr. Gallant’s flamboyant flair Evan would make pussies drip for days styled on a runway, y’all already know…..🤤💦💦💦

any fashion houses want to make this happen? the tweam is ready to hype it up enthusiastically

[ailtrahq]

JPMorgan Chase & Co. is delving into the realm of blockchain-based digital deposit tokens, aiming to enhance cross-border payments and settlements. However, regulatory approval remains a crucial hurdle for this innovative payment method. According to a Bloomberg News/articles/2023-09-07/jpmorgan-jpm-explores-blockchain-deposit-token-for-payment-settlement" target="_blank" rel="noopener">report, the New York-based Investment bank and financial advisor is deepening its roots in the blockchain ecosystem and rolling out a new blockchain-based deposit token to enhance payments on its platform.  In simple terms, deposit tokens are digital representations of deposits held by Customers in commercial banks. These tokens are designed to streamline transactions and settlements by leveraging Blockchain Technology. This means that when you use a deposit token, your transactions happen almost instantly — a feature that has the potential to reduce transaction costs significantly. While JPMorgan is enthusiastic about the prospect of its deposit tokens, the company’s new solution is yet to be greenlighted by regulators. Deposit tokens vs. JPM Coin The proposed deposit token serves a different purpose than the JPM Coin, the bank’s attempt to float a dollar-backed Stablecoin for bank transfers. While JPM Coin primarily facilitates the movement of funds within JPMorgan’s corporate clients, the deposit token is designed to enable easy fund transfers to clients of other banks. Additionally, it’s particularly well-suited for settling trades involving tokenized Securities or Financial instruments on a blockchain. The deposit token and JPM Coin are meant to integrate seamlessly with JPMorgan’s compliance systems, ensuring adherence to essential checks like know-your-customer, anti-fraud measures, and regulatory reporting. JPMorgan blockchain journey JPMorgan is no stranger to Blockchain Technology. They introduced the JPM Coin in 2019, which has already facilitated the transfer of dollars and euros among its select corporate clients. In February 2023, JPMorgan expressed its belief that deposit tokens could find a place in the Decentralized Finance (defi) space, potentially Trading alongside stablecoins. The bank sees the Tokenization of fiat deposits as a game-changer that can enhance accessibility across major blockchains. Last June, JPMorgan further solidified its global presence in the blockchain arena. Firstly, the bank joined forces with six major Indian banks to unveil a cutting-edge blockchain-driven platform tailored for interbank dollar transactions in India’s rapidly growing international financial hub. This groundbreaking pilot initiative is slated to operate for an extended period, symbolizing a noteworthy stride in the worldwide embrace of Blockchain Technology. Shortly after that, in the same month, JPMorgan made a strategic move by broadening the horizons of its blockchain-based payment system, JPM Coin. Their expansion efforts focused on accommodating euro-based transactions, catering to their corporate Clientele. This strategic move showcased their commitment to innovation and underscored their growing influence in the realm of blockchain-powered finance.  Dimon still not Bullish on bitcoin While JPMorgan is making strides in blockchain adoption, the firm’s CEO, Jamie Dimon, has expressed mixed sentiments regarding Cryptocurrency, including bitcoin (BTC), calling it a “hyped-up hoax” among other harsh terms. Still, Dimon has praised the boundless promise of Blockchain Technology.  At the time of writing, the Price of BTC is hovering around $25,876, with a Market capitalization of $504.08 billion, according to CoinMarketCap.

[truthblockchain]

JP Morgan Seeking The Blockchain Proficient

U.S. mega-bank JPMorgan has 34 open blockchain job positions posted on its website.

It’s quite possibly a record for any company in the space (JPMorgan has been noted for its enthusiastic blockchain hiring in the past).

The majority of the job openings, posted this month and last, are spread across the U.S., India and Singapore. Many of the jobs relate directly to Onyx, the division created in October of last year to oversee JPM Coin, the bank’s wholesale payments token.

A number of the blockchain engineer roles are focused on integrating both JPM Coin and Liink (previously known as the blockchain-based Interbank Information Network, and which now counts over 400 other banks as participants) into JPMorgan’s payments architecture.

When Onyx was launched, JPMorgan said the new division housed around 100 jobs.

https://www.google.com/amp/s/www.coindesk.com/jpmorgan-posts-34-blockchain-jobs-as-it-beefs-up-jpm-coin%3famp=1

[preciousmetals0]

Tech Development, Investments and NFT to Drive Crypto Adoption in 2020

Tech Development, Investments and NFT to Drive Crypto Adoption in 2020:

As the end of the year draws closer, discussing what the future holds for the crypto industry becomes increasingly relevant. In particular, how global financial and technological trends will affect the adoption of cryptocurrencies in the coming year.

Despite the critics, the number of industry experts and crypto enthusiasts who foresee a promising future for cryptocurrencies has been on the rise. Institutional investors are now paying more attention to crypto-related projects and products, and universities have even started to offer courses on cryptocurrency and blockchain technology.

Now, talks of how emerging technologies like artificial intelligence and the Internet of Things can influence crypto have emerged, with possibilities for new applications coming to the fore. Furthermore, a global trend toward a cashless society is set to have a real impact on how privacy and freedom are perceived. Could cryptocurrencies provide a much-needed solution as early as 2020?

Increased use of AI and the IoT 

No matter the industry, experts are more than willing to proclaim that artificial intelligence is the next big thing in their industry. The ubiquity of datasets, not to mention machine learning and high-performance scalable computing, are truly propelling the world into an age of AI. Many even consider the technology to be a sure sign of the incoming fourth Industrial Revolution.

However, despite the fast rise of AI technology, few practical applications are being discovered at present. A report called “The State of AI 2019” shows that projects associating themselves with the AI buzzword receive up to 50% more funding. This overwhelming hype around AI has led to a scenario where real applications are outnumbered by projects that only claim to be AI-related.

The good news is that the crypto industry has various applications where AI can be used to make cryptocurrencies attractive to the mainstream public. For instance, efficiently optimizing energy consumption during the mining process. For the most part, the energy it takes to mine Bitcoin has been a concern, and certain programs can reduce the energy costs. This provides increased profit margins to miners, who reduce transaction fees as a result.

Once implemented, AI can potentially compute the probability of a particular node’s performance and recommend methods that can be used to enable faster and cheaper transactions on the blockchain. Furthermore, when combined with IoT tech, different nodes will be able to communicate autonomously, achieving an increase in efficiency in terms of consensus protocols on the blockchain.

Al, IoT and blockchain can be used to make electronic devices completely autonomous, so that instead of using credit cards, these devices can be programmed to use cryptocurrencies to transact with one another. 

On the subject, Cointelegraph reached out to Dominik Shiener, the founder of Iota — a cryptocurrency project that seeks to integrate cryptocurrencies to IoT. Shiener said that he believes autonomy should be the ultimate technological goal:

“The ultimate vision of all these technological advances is it to move from automation towards autonomy, and turn machines into autonomous economic agents. By simply giving a machine a wallet and way to verify, receive and send payments, we are creating an entire new Machine Economy where machines provide services and data to each other.”

Shiener also added that by combining IoT, AI and DLT, new and groundbreaking applications will become available, and as such, “we move away from today’s centralized networks with single points of failure, towards ‘Smart Decentralization’ where our networks are decentralized, resilient, secure, and smart.”

Institutional investors’ increased interest in crypto

Another trend that will likely take cryptocurrencies to the mainstream in 2020 is the increased interest in crypto-related projects from institutional investors.

A survey by Fidelity investment reveals that out of 441 United States-based institutional investors, 47% “appreciate that digital assets are an innovative technology play.”

The survey also showed that more than 70% of respondents view digital assets favorably, and four in 10 respondents said that they are open to future investments in digital assets.

What’s even more interesting is the fact that 22% of institutional investors already own digital assets. Basically, interest in cryptocurrencies or digital assets has matured from a reserve group of early adopters to financial advisors, traditional hedge funds, and family offices taking a keen interest in the industry.

For instance, JP Morgan issued its customers the JPM Coin as a newly released cryptocurrency aimed at facilitating international money transfers among its institutional clients.

Furthermore, Morgan Creek Digital Assets (an asset management firm) partnered with two pension funds that have a combined $5.1 billion in assets under management. Through the partnership, Morgan Creek Digital Assets reportedly raised $40 million that will go into a venture fund that invests in Bitcoin and other blockchain-related companies.

Another study conducted in the last quarter of 2018 by the Global Custodian and BitGo states that 94% of financial endowments have been making investments in crypto-related projects.

The report further showed that only 7% of the endowments “anticipate a decrease in their allocation in the next 12 months” and that the rest were optimistic about increasing their allocation. What’s most fascinating is that despite the heavy regulatory pressure and volatility that the cryptocurrency industry has been facing, these institutional investors and endowment fund managers are hardly showing any signs of stepping away.

Because a crypto-asset fund needs to exhibit sufficient capital flow, not to mention liquidity, the increased interest from financial endowments is a clear indicator that the crypto industry is growing. The University of Michigan, for instance, has planned this year to increase its stake in the crypto fund managed by Andreessen Horowitz. 

Other top-ranking universities whose endowments have shown interest in cryptocurrencies include Havard and Yale. In 2019, Harvard, together with two pension plans in Virginia have bought about 95.8 million tokens of Blockstack, a digital rights protection platform, valued at about $11.5 million at the time. Furthermore, Blockstack’s token sale managed to make history by being the first token sale to get qualified by the SEC.

For Yale, in particular, the move to invest in crypto seems to have been inspired by a study conducted by Yale economists (Aleh Tsyvinski and Yukun Liu). In their study, the Yale economists reported that although cryptocurrencies demonstrate a lot of volatility, they also show a return that is higher than the risk implied by volatility.

Increased microchipping and use of cashless systems globally 

All over the world, the movement toward a global cashless society is picking up speed. From Africa to Europe to Asia and America, there is no shortage of countries that are replacing banknotes for the convenience of electronic or plastic money.

In places such as Sweden, the move toward a cashless society has been so efficient that cash in circulation in the country has dropped to just 1% of GDP. Furthermore, Swedish legislation has made it possible for various retailers to refuse cash payments altogether. 

Related: Crypto Vs. Cash: Which Countries Expect to Go Digital Soon?

To keep up with the changes, the Swedish central bank has set up plans to issue a digital version of its national fiat currency dubbed ‘e-krona.’ Add that to the increased popularity for microchipping among the Swedes and, in a few years, experts predict that the country could be among the first in the world to go completely cashless, bringing about several major advantages.

Swedes who make cashless payments with microchip implants report that they can pay for train tickets, eat at restaurants, and even open office doors without the inconvenience of pulling out their wallets, phones or keys. However, the price for this level of convenience is the threat of surveillance and safety of personal information. 

Although electronic payment methods might offer convenience, a detailed record of the user’s purchases, location and time are recorded. This data can be sold and marketed by a user’s payment provider, retailers, and payment processors.

In China, the ubiquity of digital payments has become so instrumental that the country’s social credit system has been built around it. So far, cash payments in China have been reduced from 96% in 2012 to 15% as of 2019.

As countries further embrace the cashless movement, people will gradually lose the ability to transact value without the involvement of third parties or government entities. A cashless society might enable governments to better protect their people from crime, but it comes at the cost of each citizen’s data privacy and autonomy. On the subject, Cointelegraph spoke with Ray Wang, founder, chairman and analyst at Constellation Research, who said:

“This is the paradox. The companies contending to win our trust to manage our digital identities all seem to have complementary (or competing) business models that breach that trust by selling our data.” 

Cryptocurrencies like Bitcoin could provide a hedge against the cashless movement, allowing people to transact value without the involvement of third parties or the government. Although not as private as cash payments in terms of user data, Bitcoin payments — much like cash payments — are decentralized and do not require a third party, thanks to the blockchain. Therefore, as societies go cashless, the demand for alternative payment methods such as what Bitcoin and other cryptocurrencies offer will be in demand. 

Furthermore, with increased global economic uncertainty (keeping in mind that fiat currencies are affected by government policies), cryptocurrencies will likely provide a hedge against negative interest rates.

2020 and ahead

Even though global trends can highlight significant changes that are yet to come, the future remains highly unpredictable, and what happens in 2020 and beyond is anyone’s guess. 

The rise of key Industry 4.0 technologies like AI, IoT and blockchain can shift the scales of power quickly and in directions previously unexpected. As much as the increased interest in blockchain technology is worth considering as a telltale sign of what the future has to offer, one still has to take multiple other factors into account before concluding with a definitive answer on whether crypto will go mainstream.

Hopefully, with the increasing flow of institutional capital, not to mention the influence of the trends mentioned above, the industry will be legitimized in the eyes of the mainstream public.

[goldira01]

As the end of the year draws closer, discussing what the future holds for the crypto industry becomes increasingly relevant. In particular, how global financial and technological trends will affect the adoption of cryptocurrencies in the coming year.

Despite the critics, the number of industry experts and crypto enthusiasts who foresee a promising future for cryptocurrencies has been on the rise. Institutional investors are now paying more attention to crypto-related projects and products, and universities have even started to offer courses on cryptocurrency and blockchain technology.

Now, talks of how emerging technologies like artificial intelligence and the Internet of Things can influence crypto have emerged, with possibilities for new applications coming to the fore. Furthermore, a global trend toward a cashless society is set to have a real impact on how privacy and freedom are perceived. Could cryptocurrencies provide a much-needed solution as early as 2020?

Increased use of AI and the IoT 

No matter the industry, experts are more than willing to proclaim that artificial intelligence is the next big thing in their industry. The ubiquity of datasets, not to mention machine learning and high-performance scalable computing, are truly propelling the world into an age of AI. Many even consider the technology to be a sure sign of the incoming fourth Industrial Revolution.

However, despite the fast rise of AI technology, few practical applications are being discovered at present. A report called “The State of AI 2019” shows that projects associating themselves with the AI buzzword receive up to 50% more funding. This overwhelming hype around AI has led to a scenario where real applications are outnumbered by projects that only claim to be AI-related.

The good news is that the crypto industry has various applications where AI can be used to make cryptocurrencies attractive to the mainstream public. For instance, efficiently optimizing energy consumption during the mining process. For the most part, the energy it takes to mine Bitcoin has been a concern, and certain programs can reduce the energy costs. This provides increased profit margins to miners, who reduce transaction fees as a result.

Once implemented, AI can potentially compute the probability of a particular node’s performance and recommend methods that can be used to enable faster and cheaper transactions on the blockchain. Furthermore, when combined with IoT tech, different nodes will be able to communicate autonomously, achieving an increase in efficiency in terms of consensus protocols on the blockchain.

Al, IoT and blockchain can be used to make electronic devices completely autonomous, so that instead of using credit cards, these devices can be programmed to use cryptocurrencies to transact with one another. 

On the subject, Cointelegraph reached out to Dominik Shiener, the founder of Iota — a cryptocurrency project that seeks to integrate cryptocurrencies to IoT. Shiener said that he believes autonomy should be the ultimate technological goal:

“The ultimate vision of all these technological advances is it to move from automation towards autonomy, and turn machines into autonomous economic agents. By simply giving a machine a wallet and way to verify, receive and send payments, we are creating an entire new Machine Economy where machines provide services and data to each other.”

Shiener also added that by combining IoT, AI and DLT, new and groundbreaking applications will become available, and as such, “we move away from today’s centralized networks with single points of failure, towards ‘Smart Decentralization’ where our networks are decentralized, resilient, secure, and smart.”

Institutional investors’ increased interest in crypto

Another trend that will likely take cryptocurrencies to the mainstream in 2020 is the increased interest in crypto-related projects from institutional investors.

A survey by Fidelity investment reveals that out of 441 United States-based institutional investors, 47% “appreciate that digital assets are an innovative technology play.”

The survey also showed that more than 70% of respondents view digital assets favorably, and four in 10 respondents said that they are open to future investments in digital assets.

What’s even more interesting is the fact that 22% of institutional investors already own digital assets. Basically, interest in cryptocurrencies or digital assets has matured from a reserve group of early adopters to financial advisors, traditional hedge funds, and family offices taking a keen interest in the industry.

For instance, JP Morgan issued its customers the JPM Coin as a newly released cryptocurrency aimed at facilitating international money transfers among its institutional clients.

Furthermore, Morgan Creek Digital Assets (an asset management firm) partnered with two pension funds that have a combined $5.1 billion in assets under management. Through the partnership, Morgan Creek Digital Assets reportedly raised $40 million that will go into a venture fund that invests in Bitcoin and other blockchain-related companies.

Another study conducted in the last quarter of 2018 by the Global Custodian and BitGo states that 94% of financial endowments have been making investments in crypto-related projects.

The report further showed that only 7% of the endowments “anticipate a decrease in their allocation in the next 12 months” and that the rest were optimistic about increasing their allocation. What’s most fascinating is that despite the heavy regulatory pressure and volatility that the cryptocurrency industry has been facing, these institutional investors and endowment fund managers are hardly showing any signs of stepping away.

Because a crypto-asset fund needs to exhibit sufficient capital flow, not to mention liquidity, the increased interest from financial endowments is a clear indicator that the crypto industry is growing. The University of Michigan, for instance, has planned this year to increase its stake in the crypto fund managed by Andreessen Horowitz. 

Other top-ranking universities whose endowments have shown interest in cryptocurrencies include Havard and Yale. In 2019, Harvard, together with two pension plans in Virginia have bought about 95.8 million tokens of Blockstack, a digital rights protection platform, valued at about $11.5 million at the time. Furthermore, Blockstack’s token sale managed to make history by being the first token sale to get qualified by the SEC.

For Yale, in particular, the move to invest in crypto seems to have been inspired by a study conducted by Yale economists (Aleh Tsyvinski and Yukun Liu). In their study, the Yale economists reported that although cryptocurrencies demonstrate a lot of volatility, they also show a return that is higher than the risk implied by volatility.

Increased microchipping and use of cashless systems globally 

All over the world, the movement toward a global cashless society is picking up speed. From Africa to Europe to Asia and America, there is no shortage of countries that are replacing banknotes for the convenience of electronic or plastic money.

In places such as Sweden, the move toward a cashless society has been so efficient that cash in circulation in the country has dropped to just 1% of GDP. Furthermore, Swedish legislation has made it possible for various retailers to refuse cash payments altogether. 

Related: Crypto Vs. Cash: Which Countries Expect to Go Digital Soon?

To keep up with the changes, the Swedish central bank has set up plans to issue a digital version of its national fiat currency dubbed ‘e-krona.’ Add that to the increased popularity for microchipping among the Swedes and, in a few years, experts predict that the country could be among the first in the world to go completely cashless, bringing about several major advantages.

Swedes who make cashless payments with microchip implants report that they can pay for train tickets, eat at restaurants, and even open office doors without the inconvenience of pulling out their wallets, phones or keys. However, the price for this level of convenience is the threat of surveillance and safety of personal information. 

Although electronic payment methods might offer convenience, a detailed record of the user’s purchases, location and time are recorded. This data can be sold and marketed by a user’s payment provider, retailers, and payment processors.

In China, the ubiquity of digital payments has become so instrumental that the country’s social credit system has been built around it. So far, cash payments in China have been reduced from 96% in 2012 to 15% as of 2019.

As countries further embrace the cashless movement, people will gradually lose the ability to transact value without the involvement of third parties or government entities. A cashless society might enable governments to better protect their people from crime, but it comes at the cost of each citizen’s data privacy and autonomy. On the subject, Cointelegraph spoke with Ray Wang, founder, chairman and analyst at Constellation Research, who said:

“This is the paradox. The companies contending to win our trust to manage our digital identities all seem to have complementary (or competing) business models that breach that trust by selling our data.” 

Cryptocurrencies like Bitcoin could provide a hedge against the cashless movement, allowing people to transact value without the involvement of third parties or the government. Although not as private as cash payments in terms of user data, Bitcoin payments — much like cash payments — are decentralized and do not require a third party, thanks to the blockchain. Therefore, as societies go cashless, the demand for alternative payment methods such as what Bitcoin and other cryptocurrencies offer will be in demand. 

Furthermore, with increased global economic uncertainty (keeping in mind that fiat currencies are affected by government policies), cryptocurrencies will likely provide a hedge against negative interest rates.

2020 and ahead

Even though global trends can highlight significant changes that are yet to come, the future remains highly unpredictable, and what happens in 2020 and beyond is anyone’s guess. 

The rise of key Industry 4.0 technologies like AI, IoT and blockchain can shift the scales of power quickly and in directions previously unexpected. As much as the increased interest in blockchain technology is worth considering as a telltale sign of what the future has to offer, one still has to take multiple other factors into account before concluding with a definitive answer on whether crypto will go mainstream.

Hopefully, with the increasing flow of institutional capital, not to mention the influence of the trends mentioned above, the industry will be legitimized in the eyes of the mainstream public.

[cryptobrief]

Some in the cryptocurrency space have wondered if the appearance of the new big bank issued stablecoins will make cryptocurrencies disappear. Ripple has the ambition to create a new worldwide payment system.

But detractors wonder if the prevalence of stablecoins will solve the same problem XRP is meant to solve. A popular Twitter cryptocurrency trader and enthusiast known as The Crypto Dog asked what does Ripple’s XRP have over a coin like JPM, the crypto project of JP Morgan.

Not hating on this tweet, just genuinely curious:

Why would any bank use a volatile currency like $XRP over a “bank approved” stablecoin like JPM coin?

— The Crypto Dog

[cryptswahili]

Who Wins? Ripple and XRP or the “Bank Approved” Stablecoins?

Some in the cryptocurrency space have wondered if the appearance of the new big bank issued stablecoins will make cryptocurrencies disappear. Ripple has the ambition to create a new worldwide payment system.

But detractors wonder if the prevalence of stablecoins will solve the same problem XRP is meant to solve. A popular Twitter cryptocurrency trader and enthusiast known as The Crypto Dog asked what does Ripple’s XRP have over a coin like JPM, the crypto project of JP Morgan.

Not hating on this tweet, just genuinely curious:

Why would any bank use a volatile currency like $XRP over a “bank approved” stablecoin like JPM coin?

— The Crypto Dog

Telegram Channel | Original Article ]

[brettzjacksonblog]

Bitcoin Educator Jimmy Song Isn’t A Big Fan Of Ethereum (Or JP Morgan Coin)

Over the past weeks, some of the world’s largest institutions, namely Facebook and JP Morgan, have announced intentions to launch blockchain ventures. While many crypto enthusiasts have welcomed this news, there’s one caveat, these projects are likely going to be centralized beyond compare.

And to some, this simple fact isn’t something to be excited about.

Ethereum, JPM Coin, FB Coin — It’s All Permissioned

In a recent debate at South By Southwest 2019 — a tech-heavy, crypto-friendly conference held in Austin — Jimmy Song argued that there are only two subsets of blockchain technologies: private (permissioned) and public (permissionless). In reference to the whole “if you control your own keys, you control your own Bitcoin” argument, Song explained:

 “You either have control over your stuff or you don’t. It’s a zero or a one… Blockchain is really useful for bitcoin. Everything else has a central point of failure.”

Per CoinDesk, the longtime Bitcoin educator and industry commentator then went on to draw attention to Ethereum, noting that he believes it is entirely permissioned. He cites the hack of The DAO, especially the part of the story where developers and other stakeholders reversed the effects of the game-changing imbroglio through a blockchain rollback.

Decentralized: no one can take your property away.

Centralized: someone gives you permission to keep possession of said property.

That's why decentralization is binary, not a spectrum. You either have self sovereignty over your own property or you don't. There is no in between.

— Jimmy Song (송재준) (@jimmysong) March 14, 2019

While Song didn’t explicitly mention cryptocurrencies backed by corporate America, like Jamie Dimon’s newfangled stablecoin or the rumored social media-centric offering from Facebook’s bustling blockchain team, his logic can be extended here.

As the Bitcoin Core client developer isn’t a fan of Ethereum, it would hard to argue why he would be amicable towards JP Morgan’s iteration of Quorum, a private ledger based on Ethereum’s technologies.

Related Reading: Facebook’s “Crypto” Currency Expected to Add Up to $19 Billion in Revenue

Some Crypto Insiders Beg To Differ

Although Song is vehemently against centralized blockchain systems, some industry insiders have been a bit more open to the concept. Per previous reports from NewsBTC, Ari Paul, the founder of BlockTower Capital, noted that while the so-called “coporatecoins” will operate in an intranet-esque fashion, they aren’t all bad per se.

Paul elaborates that while these assets are inherently “uninteresting” to fervent crypto crusaders, who are enamored with censorship resistance, immutability, security, and peer-to-peer systems, centralized cryptocurrencies will “increase global interest dramatically.”

Laying out a hypothetical scenario, the BlockTower chief investment officer notes that 30 million of Facebookcoin users (10% of Paul’s hypothetical audience of 300 million) could eventually “stumble across Bitcoin,” meaning that the (decentralized) cryptocurrency’s community could double in size, no questions asked. Not only would this bolster adoption, but this influx of users would also increase Bitcoin’s network value, thus increasing the actual value of BTC.

Featured Image from Shutterstock

The post Bitcoin Educator Jimmy Song Isn’t A Big Fan Of Ethereum (Or JP Morgan Coin) appeared first on NewsBTC.

from CryptoCracken SMFeed https://ift.tt/2JmpuaL via IFTTT

[michaelbennettcrypto]

Bitcoin Educator Jimmy Song Isn’t A Big Fan Of Ethereum (Or JP Morgan Coin)

Over the past weeks, some of the world’s largest institutions, namely Facebook and JP Morgan, have announced intentions to launch blockchain ventures. While many crypto enthusiasts have welcomed this news, there’s one caveat, these projects are likely going to be centralized beyond compare.

And to some, this simple fact isn’t something to be excited about.

Ethereum, JPM Coin, FB Coin — It’s All Permissioned

In a recent debate at South By Southwest 2019 — a tech-heavy, crypto-friendly conference held in Austin — Jimmy Song argued that there are only two subsets of blockchain technologies: private (permissioned) and public (permissionless). In reference to the whole “if you control your own keys, you control your own Bitcoin” argument, Song explained:

 “You either have control over your stuff or you don’t. It’s a zero or a one… Blockchain is really useful for bitcoin. Everything else has a central point of failure.”

Per CoinDesk, the longtime Bitcoin educator and industry commentator then went on to draw attention to Ethereum, noting that he believes it is entirely permissioned. He cites the hack of The DAO, especially the part of the story where developers and other stakeholders reversed the effects of the game-changing imbroglio through a blockchain rollback.

Decentralized: no one can take your property away.

Centralized: someone gives you permission to keep possession of said property.

That's why decentralization is binary, not a spectrum. You either have self sovereignty over your own property or you don't. There is no in between.

— Jimmy Song (송재준) (@jimmysong) March 14, 2019

While Song didn’t explicitly mention cryptocurrencies backed by corporate America, like Jamie Dimon’s newfangled stablecoin or the rumored social media-centric offering from Facebook’s bustling blockchain team, his logic can be extended here.

As the Bitcoin Core client developer isn’t a fan of Ethereum, it would hard to argue why he would be amicable towards JP Morgan’s iteration of Quorum, a private ledger based on Ethereum’s technologies.

Related Reading: Facebook’s “Crypto” Currency Expected to Add Up to $19 Billion in Revenue

Some Crypto Insiders Beg To Differ

Although Song is vehemently against centralized blockchain systems, some industry insiders have been a bit more open to the concept. Per previous reports from NewsBTC, Ari Paul, the founder of BlockTower Capital, noted that while the so-called “coporatecoins” will operate in an intranet-esque fashion, they aren’t all bad per se.

Paul elaborates that while these assets are inherently “uninteresting” to fervent crypto crusaders, who are enamored with censorship resistance, immutability, security, and peer-to-peer systems, centralized cryptocurrencies will “increase global interest dramatically.”

Laying out a hypothetical scenario, the BlockTower chief investment officer notes that 30 million of Facebookcoin users (10% of Paul’s hypothetical audience of 300 million) could eventually “stumble across Bitcoin,” meaning that the (decentralized) cryptocurrency’s community could double in size, no questions asked. Not only would this bolster adoption, but this influx of users would also increase Bitcoin’s network value, thus increasing the actual value of BTC.

Featured Image from Shutterstock

The post Bitcoin Educator Jimmy Song Isn’t A Big Fan Of Ethereum (Or JP Morgan Coin) appeared first on NewsBTC.

from Cryptocracken WP https://ift.tt/2JmpuaL via IFTTT

[joshuajacksonlyblog]

Bitcoin Educator Jimmy Song Isn’t A Big Fan Of Ethereum (Or JP Morgan Coin)

Over the past weeks, some of the world’s largest institutions, namely Facebook and JP Morgan, have announced intentions to launch blockchain ventures. While many crypto enthusiasts have welcomed this news, there’s one caveat, these projects are likely going to be centralized beyond compare.

And to some, this simple fact isn’t something to be excited about.

Ethereum, JPM Coin, FB Coin — It’s All Permissioned

In a recent debate at South By Southwest 2019 — a tech-heavy, crypto-friendly conference held in Austin — Jimmy Song argued that there are only two subsets of blockchain technologies: private (permissioned) and public (permissionless). In reference to the whole “if you control your own keys, you control your own Bitcoin” argument, Song explained:

 “You either have control over your stuff or you don’t. It’s a zero or a one… Blockchain is really useful for bitcoin. Everything else has a central point of failure.”

Per CoinDesk, the longtime Bitcoin educator and industry commentator then went on to draw attention to Ethereum, noting that he believes it is entirely permissioned. He cites the hack of The DAO, especially the part of the story where developers and other stakeholders reversed the effects of the game-changing imbroglio through a blockchain rollback.

Decentralized: no one can take your property away.

Centralized: someone gives you permission to keep possession of said property.

That's why decentralization is binary, not a spectrum. You either have self sovereignty over your own property or you don't. There is no in between.

— Jimmy Song (송재준) (@jimmysong) March 14, 2019

While Song didn’t explicitly mention cryptocurrencies backed by corporate America, like Jamie Dimon’s newfangled stablecoin or the rumored social media-centric offering from Facebook’s bustling blockchain team, his logic can be extended here.

As the Bitcoin Core client developer isn’t a fan of Ethereum, it would hard to argue why he would be amicable towards JP Morgan’s iteration of Quorum, a private ledger based on Ethereum’s technologies.

Related Reading: Facebook’s “Crypto” Currency Expected to Add Up to $19 Billion in Revenue

Some Crypto Insiders Beg To Differ

Although Song is vehemently against centralized blockchain systems, some industry insiders have been a bit more open to the concept. Per previous reports from NewsBTC, Ari Paul, the founder of BlockTower Capital, noted that while the so-called “coporatecoins” will operate in an intranet-esque fashion, they aren’t all bad per se.

Paul elaborates that while these assets are inherently “uninteresting” to fervent crypto crusaders, who are enamored with censorship resistance, immutability, security, and peer-to-peer systems, centralized cryptocurrencies will “increase global interest dramatically.”

Laying out a hypothetical scenario, the BlockTower chief investment officer notes that 30 million of Facebookcoin users (10% of Paul’s hypothetical audience of 300 million) could eventually “stumble across Bitcoin,” meaning that the (decentralized) cryptocurrency’s community could double in size, no questions asked. Not only would this bolster adoption, but this influx of users would also increase Bitcoin’s network value, thus increasing the actual value of BTC.

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The post Bitcoin Educator Jimmy Song Isn’t A Big Fan Of Ethereum (Or JP Morgan Coin) appeared first on NewsBTC.

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Voices What JPMorgan's JPM Coin means for <b>crypto</b> accounting

When JPMorgan Chase announced the launch of JPM Coin in February, the effect was nearly instantaneous. Crypto enthusiasts immediately set ... from Google Alert - Crypto https://ift.tt/2Havlxc via IFTTT

[adrianjenkins952wblr]

Why News of JPM Coin Resulted in Bitcoin (BTC) Gaining in the Crypto Markets

Why News of JPM Coin Resulted in Bitcoin (BTC) Gaining in the Crypto Markets

On Valentines day, crypto traders and enthusiasts woke up to news that the biggest bank in the United States, JP Morgan Chase, will be issuing its own cryptocurrency known as the ‘JPM Coin’. The digital asset will be an internal cryptocurrency used to ease the flow of payments by the bank by instantly settling transactions between clients of its wholesale payments business.

Bloomberg Reports that the Current Bitcoin Rally Was due to the JPM Coin Announcement

5 days later, and on the 19th of February, Bloomberg reported that the recent gains by BTC from $3,600 levels to its current value of around $3,900 was a delayed response frto the news of JP Morgan launching its own cryptocurrency. The Bloomberg report stated the following:

Bitcoin is approaching $4,000 for the first time since the start of the year, as the largest cryptocurrency gets a delayed boost from the announcement last week that JPMorgan has developed a prototype digital coin that it plans to use to speed up payments between corporate customers.

Immediate Backlash from Crypto Twitter

As soon as Bloomberg tweeted the news, crypto enthusiasts responded by ridiculing the report. One user went as far as claiming the report was fake news. The tweet can be found below.

Perfect example of … Fake News

— Mr Coins

(@CryptoDabbler) February 19, 2019

JP Morgan Launching a Crypto Legitimizes Bitcoin 

According to the Abacus Journal, news of JP Morgan launching a cryptocurrency brought renewed interest in the investment of Bitcoin. Proof of this can be seen with the CME Group reporting a record number of Bitcoin futures contracts traded on the 19th of February.

One hedge fund source told Abacus Journal the following.

Every adult with a bank account and a job knows who JP Morgan is. So the announcement of a native cryptocurrency brought interest to a renewed and fresh level that had been diminished throughout nearly all of 2018. My wife even asked me about it the day after it was announced. The huge bounce in volumes in Bitcoin and, for example, Bitcoin futures at the CME are indicative of the wave the announcement caused.

Another source was quick to predict that the JPM Coin might be the catalyst the crypto markets needed to bounce back.

It isn’t that far fetched to foresee a look back in six months and point to the $JPM coin as the catalyst that busted the bear market. Sentiment and narrative play a huge role in what remains a pretty small markets at this point. The JP Morgan news pushed prices higher across the board and those price increases were seriously validated by a surge in volumes.

Summing it Up

Many crypto enthusiasts were quick to dismiss the Bloomberg report that the current increment in value of Bitcoin to near $4,000 levels was a delayed response of the news that JP Morgan was launching its own cryptocurrency. However, with news of a record day of trading for CME’s Bitcoin futures on the 19th of this month, and the input of hedge fund sources to the Abacus Journal, it is worth concluding that the JPM Coin might just have catalyzed renewed investor interest in BTC and other cryptocurrencies.

What are your thoughts on the idea that news of JP Morgan launching their own cryptocurrency is the reason we are seeing Bitcoin (BTC) and all our favorite digital assets gaining in the markets? Does JPM Coin legitimize cryptocurrencies as viable investments? Please let us know in the comment section below. 

[Feature image courtesy of Pixabay.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Original Source https://ift.tt/2SiFXMc

[mccartneynathxzw83]

Why News of JPM Coin Resulted in Bitcoin (BTC) Gaining in the Crypto Markets

Why News of JPM Coin Resulted in Bitcoin (BTC) Gaining in the Crypto Markets

On Valentines day, crypto traders and enthusiasts woke up to news that the biggest bank in the United States, JP Morgan Chase, will be issuing its own cryptocurrency known as the ‘JPM Coin’. The digital asset will be an internal cryptocurrency used to ease the flow of payments by the bank by instantly settling transactions between clients of its wholesale payments business.

Bloomberg Reports that the Current Bitcoin Rally Was due to the JPM Coin Announcement

5 days later, and on the 19th of February, Bloomberg reported that the recent gains by BTC from $3,600 levels to its current value of around $3,900 was a delayed response frto the news of JP Morgan launching its own cryptocurrency. The Bloomberg report stated the following:

Bitcoin is approaching $4,000 for the first time since the start of the year, as the largest cryptocurrency gets a delayed boost from the announcement last week that JPMorgan has developed a prototype digital coin that it plans to use to speed up payments between corporate customers.

Immediate Backlash from Crypto Twitter

As soon as Bloomberg tweeted the news, crypto enthusiasts responded by ridiculing the report. One user went as far as claiming the report was fake news. The tweet can be found below.

Perfect example of … Fake News

— Mr Coins

(@CryptoDabbler) February 19, 2019

JP Morgan Launching a Crypto Legitimizes Bitcoin 

According to the Abacus Journal, news of JP Morgan launching a cryptocurrency brought renewed interest in the investment of Bitcoin. Proof of this can be seen with the CME Group reporting a record number of Bitcoin futures contracts traded on the 19th of February.

One hedge fund source told Abacus Journal the following.

Every adult with a bank account and a job knows who JP Morgan is. So the announcement of a native cryptocurrency brought interest to a renewed and fresh level that had been diminished throughout nearly all of 2018. My wife even asked me about it the day after it was announced. The huge bounce in volumes in Bitcoin and, for example, Bitcoin futures at the CME are indicative of the wave the announcement caused.

Another source was quick to predict that the JPM Coin might be the catalyst the crypto markets needed to bounce back.

It isn’t that far fetched to foresee a look back in six months and point to the $JPM coin as the catalyst that busted the bear market. Sentiment and narrative play a huge role in what remains a pretty small markets at this point. The JP Morgan news pushed prices higher across the board and those price increases were seriously validated by a surge in volumes.

Summing it Up

Many crypto enthusiasts were quick to dismiss the Bloomberg report that the current increment in value of Bitcoin to near $4,000 levels was a delayed response of the news that JP Morgan was launching its own cryptocurrency. However, with news of a record day of trading for CME’s Bitcoin futures on the 19th of this month, and the input of hedge fund sources to the Abacus Journal, it is worth concluding that the JPM Coin might just have catalyzed renewed investor interest in BTC and other cryptocurrencies.

What are your thoughts on the idea that news of JP Morgan launching their own cryptocurrency is the reason we are seeing Bitcoin (BTC) and all our favorite digital assets gaining in the markets? Does JPM Coin legitimize cryptocurrencies as viable investments? Please let us know in the comment section below. 

[Feature image courtesy of Pixabay.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Original Source https://ift.tt/2SiFXMc

[bobbynolanios88]

Why News of JPM Coin Resulted in Bitcoin (BTC) Gaining in the Crypto Markets

Why News of JPM Coin Resulted in Bitcoin (BTC) Gaining in the Crypto Markets

On Valentines day, crypto traders and enthusiasts woke up to news that the biggest bank in the United States, JP Morgan Chase, will be issuing its own cryptocurrency known as the ‘JPM Coin’. The digital asset will be an internal cryptocurrency used to ease the flow of payments by the bank by instantly settling transactions between clients of its wholesale payments business.

Bloomberg Reports that the Current Bitcoin Rally Was due to the JPM Coin Announcement

5 days later, and on the 19th of February, Bloomberg reported that the recent gains by BTC from $3,600 levels to its current value of around $3,900 was a delayed response frto the news of JP Morgan launching its own cryptocurrency. The Bloomberg report stated the following:

Bitcoin is approaching $4,000 for the first time since the start of the year, as the largest cryptocurrency gets a delayed boost from the announcement last week that JPMorgan has developed a prototype digital coin that it plans to use to speed up payments between corporate customers.

Immediate Backlash from Crypto Twitter

As soon as Bloomberg tweeted the news, crypto enthusiasts responded by ridiculing the report. One user went as far as claiming the report was fake news. The tweet can be found below.

Perfect example of … Fake News

— Mr Coins

(@CryptoDabbler) February 19, 2019

JP Morgan Launching a Crypto Legitimizes Bitcoin 

According to the Abacus Journal, news of JP Morgan launching a cryptocurrency brought renewed interest in the investment of Bitcoin. Proof of this can be seen with the CME Group reporting a record number of Bitcoin futures contracts traded on the 19th of February.

One hedge fund source told Abacus Journal the following.

Every adult with a bank account and a job knows who JP Morgan is. So the announcement of a native cryptocurrency brought interest to a renewed and fresh level that had been diminished throughout nearly all of 2018. My wife even asked me about it the day after it was announced. The huge bounce in volumes in Bitcoin and, for example, Bitcoin futures at the CME are indicative of the wave the announcement caused.

Another source was quick to predict that the JPM Coin might be the catalyst the crypto markets needed to bounce back.

It isn’t that far fetched to foresee a look back in six months and point to the $JPM coin as the catalyst that busted the bear market. Sentiment and narrative play a huge role in what remains a pretty small markets at this point. The JP Morgan news pushed prices higher across the board and those price increases were seriously validated by a surge in volumes.

Summing it Up

Many crypto enthusiasts were quick to dismiss the Bloomberg report that the current increment in value of Bitcoin to near $4,000 levels was a delayed response of the news that JP Morgan was launching its own cryptocurrency. However, with news of a record day of trading for CME’s Bitcoin futures on the 19th of this month, and the input of hedge fund sources to the Abacus Journal, it is worth concluding that the JPM Coin might just have catalyzed renewed investor interest in BTC and other cryptocurrencies.

What are your thoughts on the idea that news of JP Morgan launching their own cryptocurrency is the reason we are seeing Bitcoin (BTC) and all our favorite digital assets gaining in the markets? Does JPM Coin legitimize cryptocurrencies as viable investments? Please let us know in the comment section below. 

[Feature image courtesy of Pixabay.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Original Source https://ift.tt/2SiFXMc