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JPMorgan Chase is closely following the plot of Mr. Robot, says Andreas Antonopoulos




JP Morgan Chase is closely following the plot of Mr. Robot, says Andreas Antonopoulos
Source: Unsplash

Andreas Antonopoulos, the author of Mastering Bitcoin and a well-known Bitcoin influencer, discussed whether bank coins such as JPMorgan Coin [JPM Coin] would become more mainstream, during his recent Q&A session on YouTube. He also spoke about the impact it would have on other coins.

On bank coins, Andreas stated that they would definitely become mainstream, adding that they will have more market capitalization and users [in the short term]. Nevertheless, these coins would provide “less financial freedom,” decentralization, censorship resistance, and neutrality, when compared to non-bank/corporate coins.

This was followed by the author remarking that the “primary” competition for bank coins would be fiat and other bank coins, with factors such as freedom, decentralization, neutrality and censorship resistance being the primary differentiators. This, according to him, are the main aspects that bank coins “cannot and will not ever offer.” Ergo, Bitcoin will not be its competition.

He said,

“Does that mean they may be “bigger” and “richer”? Absolutely. Fiat is already bigger and richer. But that doesn’t matter. The measure of success is not market capitalization or how fast you shed principles, or compromise to absurd regulations that impoverish people both financially and in terms of their freedom.”

Andreas added that these entities will subject its users to surveillance capitalism and the “rapacious corruption of dictators around the world.” He further added that there were several problems with fiat and that banks would “keep coming anyway.” He said,

“[…] That is a race to the bottom. We should be strengthening our principles with cryptocurrencies, introducing better privacy, anonymity, fungibility, security, and usability. This is already happening in the crypto space. JPM Coin can have their [market capitalization].”

Additionally, the author stated that banks “fundamentally misunderstand” the value of cryptocurrencies and blockchains, adding that they are simply doing “business-as-usual,” which is disguised as innovation.

“[…] when it really doesn’t change [anything]… about the power imbalance, which is what cryptocurrencies are all about. “E-coin,” yes. Evil Corp. It is really funny how JPMorgan Chase is quite [closely] following the plot of Mr. Robot, the exact plot line of [the second season], even though we know that it ends with their offices in flames.”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin Cash

Bitcoin SV’s Craig Wright withdraws email evidence submitted to court as he could not verify date of email exchange





Bitcoin SV's Craig Wright withdraws email evidence submitted to court as he could not verify date of exchange
Source: Unsplash

Craig Wright, the self-proclaimed Satoshi Nakamoto, has been in the limelight for the past few days. Apart from the news surrounding a lawsuit over a defamation case, Wright also made headlines due to the news pertaining to the Dave Kleiman case.

Earlier this week, a Reddit user stated in a post that Wright “purposely” submitted a fake email as evidence to the court for the Kleiman -Wright lawsuit. The lawsuit alleges that Wright had stolen $1 million Bitcoin from Dave Kleiman after his death, and Wright was being sued for billions of dollars.

The Redditor had stated,

“Craig Wright’s fraud continues. Yesterday, he submitted into evidence an email he says was from Dave Kleiman to Uyen Nguyen asking her to be a director of his ‘bitcoin company’ in late 2012. It is provably fake. Craig didn’t realize that the email’s PGP signature includes a signing timestamp along with the ID of the key used as metadata.”

Source: Reddit

Source: Reddit

Apart from this, it was also pointed out that the spelling “Kleiman” was misspelled in the letter, as the from address spelled it “Klieman”. Now, according to a new court document, Wright has withdrawn this evidence by stating that he cannot verify the date of the email exchange.

The court letter said,

“Dr. Craig Wright respectfully notifies the Court that he withdraws Exhibit A to his Motion for Judgement on the Pleadings for Lack of Subject-Matter Jurisdiction […] Wright is not withdrawing the motion and maintains that this Court lacks subject-matter jurisdiction over this action”

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