Bitcoin Forum

Bloomberg: Credit Suisse CEO - Tidjane Thiam on Bitcoin Bubble!

https://instagram.flos1-1.fna.fbcdn.net/t51.2885-15/e35/23101719_1735210173449279_3174512020414267392_n.jpg

What a week it's been for bitcoin. The cryptocurrency topped $7,300 on Thursday and is up more than 650% this year.

It's managed to pass the $100 billion total value mark despite government crackdowns and mainstream skepticism.

Goldman Sachs CEO Lloyd Blankfein isn't sure what to make of bitcoin. He says he isn't willing to reject it just yet and can see a world where it is a form of currency.


Source: https://www.instagram.com/p/BbEtC6CF7A6/?taken-by=bloombergbusiness

What should he say? Bitcoin is a good currency and you have to give up dollars which became paper and are worth nothing. Now we see how all the financial analysts are in an information war against bitcoin, but it is only barrage. I'm sure that will soon connect the heavy artillery in the form of government. They will never accept the existence of bitcoin.

Not agreeing with its existence is a better term to speak of. It's impossible for any governmental authority to not accept/acknowledge its existence, because they are well aware of how much potential there is. Back in the days they didn't take Bitcoin serious as they thought it would fade away after a while, but now they see that even the average person is starting to get involved in Bitcoin, and thus Bitcoin is starting to prove governments wrong, they realize that it's impossible anymore to think lightly about Bitcoin. Bitcoin offers people an escape from this rubbish system, and that's what people slowly but surely start to realize -- this is just the beginning of what has to come.

I think we're already witnesses the first attempts to get banks to join the bitcoin market. They do their typical marketing to be able to buy cheaply, trigger a wave of negative comments to the bitcoin and buy during corrections. I'm very curious if another correction will be in the range of 30-40% as the last two of this year, after the bitcoin started to be interested in the mainstream :)

I really thought a guy like that would be smarter and refrain from saying bullshit that will make him a laughing stock.
If trading just to make money is the definition of a bubble then what in your view, Mr. Thiam is the definition of a stock market? Are people buying stocks to contribute to some great cause? To support the issuing companies out of generosity? No, stocks are being traded in order to make the investors money, which is the very proof of the fact that you are an imbecile and should let others do the talking.