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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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12750811 No.12750811 [Reply] [Original]

https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html

only use our coins goyim

>> No.12750824

>>12750811

RIP XRP

This is literally their death

>> No.12750862

>>12750811
Fuck banks and bankers

>> No.12750883

>>12750811
oh nooo muh xrp

>> No.12750887

I mean it was only a matter of time before banks released their own coins, but as I said before to one of these topics addressing this issue, All they're gonna do is bring more credibility to bitcoin and the crypto space for your average joes.

>> No.12750889

Don't let your memes become dreams:

>>/biz/thread/7555935

Couldn't call it JPMC after biz got involved.

>> No.12750900

>>12750889
2017 was fun

>> No.12750902

>>12750811


>Only our trusted friends are allowed to handle our coins directly
>Trust us these coins are backed by assets

So if a bank frac reserves 10 percent in cash per loan, does that mean they can frac reserve the coins with ten percent of ten percent?

This jewing gets confusing. But they are greedy fucks and are gonna charge the same old high fees and pocket their savings from block chain.

>> No.12750909

>>12750811
Why would anyone buy this shit. Probably more centralized than even xrp.

>> No.12750912

>>12750887
this will not be visible to your average joe at all.

>> No.12750915

>>12750909
it's a stablecoin for banks

>> No.12750922

this makes bitcoin completely useless tbqh

>> No.12750926

>>12750811
>RIPPLE
AHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAH

>> No.12750930

>>12750922
it won't compete with bitcoin at all.

>> No.12750948

>>12750912
Not any time soon, I'm talking 5-10 years down the line.

>> No.12750958

Bitcoin is trash, cryptocurrency is a dream by retards. Everything related to it will die

Btw guys, we just launched our own coin. Buy it

>> No.12750964

>>12750922
haha how retarded are you? first, they buy shitcoins, then they buy bitcoin, because their shitcoin won't work. private blockchains are literally unusable. blockchain=bitcoin.

>> No.12750974
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12750974

>>12750958

>> No.12750999

>>12750964
>he thinks it's going to be a private blockchain
wew your not too brite

>> No.12751291

>>12750999
enlighten me. a public chain needs some form of reward. are they using PoS or PoW? you don't know, because they didn't say, implying they are using some shitty private chain tech.

>> No.12751321

So REQ is useless?

>> No.12751323

https://www.jpmorgan.com/global/news/digital-coin-payments
>The JPM Coin will be issued on Quorum Blockchain and subsequently extended to other platforms. JPM Coin will be operable on all standard Blockchain networks.
I actually looked it up for you. this is just another stablecoin that, if it wants to be something at all, needs to be on other platforms, making atomic swaps etc with an actually decentralized protocol like BTC possible. if anything, this is bullish for bitcoin.

>> No.12751333

>>12751321
when was it ever not useless

>> No.12751411

>>12750912
>>12750948
I agree, and it does. Bitcoin has a reputation with normies to make them overnight millionaires, and they missed out. Major companies still being involved in crypto will give them confidence. The next bull run will be insane. I bet in years to come people will look back at now and be jealous and sad that they ignored crypto because they thought it was dead.

>> No.12751823
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12751823

The XRP shill army has finally been defeated! Banks will NOT use XRP.

One of the World's biggest banks is making own stablecoin for settlements --> proof that XRP is worthless trash.

Please grab a napkin and wipe the drool off of your chin. Instead of just yelling "shitcoins!!!" like sanjeev and ranjesh just actually use your brain and consider how you can make money off of such "SHITCOINS!"

If banks are not using XRP and XRP shills have done nothing but spam "BANKS WILL USE XRP!!!" how can you make money?

***SPOILER for droolers***
Answer: Short XRP.

>> No.12751861

>>12751823
Only retards took XRP seriously. I think this should be a wake up call to any of you geniuses who think your currency coin is worth dick... because it's not. Stablecoins blow all of these out of the water and this is confirmation.

>> No.12751968

RIPPLESCUM on suicide watch