Posted on 12/21/2017 4:15:57 PM PST by x1stcav
Goldman Sachs is planning to get into the business of trading digital currencies such as bitcoin, Bloomberg News reported Thursday, citing sources familiar with the matter.
"In response to client interest in digital currencies, we are exploring how best to serve them," a Goldman spokesperson said in a statement to CNBC about the report.
The new trading desk would "make markets" in the cryptocurrencies and is set to get up and running by the end of June, if not earlier, two of the sources said in the report.
The bank is still trying to work out security issues on how it would hold the assets, which are notoriously volatile and prone to hacks, another source told Bloomberg.
(Excerpt) Read more at cnbc.com ...
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I think they’re already investigating insider trading with Bitcoin ,LOL
I think I’ll stick with doubloons.
It is a bubble...just electronic...gold is real.
It might as well be chuckecheese tokens.
Beware what happened as a result of the real estate bubble. Here we go again.
It’s between the trading desks for bridges and unicorn meat futures.
They’ve figured out a way to short it.
A.K.A We are looking to take money from all chumps possible.
James Rickards once commented once that Bitcoin was like Madoff's scheme, but with no one in charge.
However, he recently wrote that perhaps there is "someone" in charge of it all along.
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Excerpt:
Yet the crypto-hysteria is distracting you from a scary truth no one is talking about. There is every indication that governments, regulators, tax authorities, and the global elite are moving in for the crypto-kill. The future of Bitcoin may be a dystopia in which Big Brother controls what’s called “the blockchain” and decides when and how you can buy or sell anything and everything.
– Furthermore, cryptocurrency technology could be the very mechanism used by global elites to replace the dollar based financial system.
…. Something similar is going on with Bitcoin and the Distributed ledger technology (DLT) today. Governments have been patiently watching blockchain technology develop and grow outside their control for the past eight years. –
Libertarian supporters of blockchain celebrate this lack of government control. Yet, their celebration is premature, and their belief in the sustainability of powerful systems outside government control is naïve. –
Governments don’t like competition especially when it comes to money. Governments know they cannot stop blockchain, in fact they don’t want to. What they want is to control it using powers of regulation, taxation, and investigation and ultimately more coercive powers including arrest and imprisonment of individuals who refuse to obey government mandates with regard to blockchain. …
A group of major companies, all regulated by government, have announced a joint effort to develop an open-source blockchain as a uniform standard for all blockchain applications. The group includes JPMorgan, Wells Fargo, State Street, SWIFT, Cisco, Accenture, the London Stock Exchange and Mitsubishi UFJ Financial. That’s not exactly five guys in hoodies working in a garage. That’s a sign of the corporate-state consortium taking over.
I am going to start collecting vintage bitcoins sounds like a fun hoppy
Hobby dang spell check
Hahaha, fiat blockchain, I can feel the heads exploding already.
Is it time to have some silver and/or gold safely stored somewhere, in ones own possession?
If GS is jumping in it. Probably is a bubble and they want to rip off a lot of people before they jump aback out.
The whole point of bitcoin is to NOT need a Goldman Sachs.
And Goldman manipulates that too for its own ends. So it will be with Bitcoin.
Creepy, like a familiar science fiction novel plot.
All of the cryptocurrencies have one thing in common the blockchain.
The blockchain has the ability to change the way accounting is handled and it would basically eliminate the need for banks when paying bills or buying stuff.
But the money Bitcoin is still just ones and zeros. The difference between it and digital dollars is everyone who is using Bitcoins or Etheriums or Ubiqs etc is keeping the books. THAT is the part everyone glosses over.
Forget about the money part... if the blockchain gets adopted by a recognized currency like the US Dollar it will be a paradigm shift bigger than digital technology and the internet combined.
That being said there is nothing magical about Bitcoins or any other cryptocurrency.
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