nostranger on Nostr: Here's a list of all the dumb things Dipstick Dimon fits into this 2-minute video:- ...

https://www.reddit.com/r/Bitcoin/s/B1AmthGXNM

Here's a list of all the dumb things Dipstick Dimon fits into this 2-minute video:-

"This is the last time I’ll tell this to CNBC" - highly unlikely unless he gains a few braincells

"Blockchain is real, it’s a technology" - no shit Sherlock, it stores the Bitcoin ledger

"We use it, it’s going to move money, it’s going to move data, it’s efficient" - it's not "going" to move money, Bitcoin is a form of money and is already being moved from wallet to wallet within the blockchain, secured by mining work. It's NOT efficient when compared with a centralised ledger so there's no point using a blockchain for anything unless it requires decentralisation and high security.

"We’ve been talking about that for 12 years too and it’s very small, we’ve wasted too many words on that" - he's describing his long journey leading to little understanding of Bitcoin

"Cryptocurrencies, there are two types – those that might actually do something (smart contracts to buy and sell real estate, that may have value). Tokenising things that you do something with." - last I checked there've been 23,000+ crytpocurrencies or tokens. There are also smart contracts on Bitcoin.

"Then there’s one that does nothing, I call it the pet rock, the Bitcoin or something like that" - feigning ignorance of its name! One of Bitcoin's most important features IS that it is pure money and its supply and demand will not be affected by the ebb-and-flow and unpredictability of industrial, commercial or decorative uses.

"On the Bitcoin there are use-cases – AML, fraud, anti-money laundering, tax avoidance, sex trafficking – and you see it being used $50-100b a year for that" - On the Bitcoin?! First, he mentions anti-money laundering twice and lumps it together with fraud and sex trafficking as if it's an evil thing - not the first time, as he also said this to congress. Perhaps he's so fed up of those AML people bugging him all the time that he's forgotten they're supposed to be the good guys! As for the amounts he quotes, each year about $500b is lost in tax avoidance, $150b spent of sex trafficking and up to $2 trillion in fraud. This amounts to over $2.5T. If the global money supply is about $50T, that means 5% is spent on these illicit activities. Bitcoin pails in comparison, with less than 0.3% of Bitcoin used for illicit activities

"Everything else is people trading among themselves (speculating?)" - er... why would people trade Bitcoin among themselves, 1BTC = 1BTC. There's arbitrage, yes, but any speculation involves fiat and other cryptos as well. There are plenty of people trading their Bitcoin for goods and servces.

“I don’t care what Larry Fink finks so please stop talking about this shit" - ooh getting lairy, but JPM's happy to support Larry's ETF nonetheless.

"I don’t know what [Larry] would say about blockchain vs currencies that do something and Bitcoin that does nothing" - why does he think that a currency has to DO something other than be a currency?!?1