Bitcoin Forum

Former Goldman Sachs partner and current Fortress Investment Group CIO Michael Novogratz says the smartest guys in the room have all turned their attention to Bitcoin.

http://www.businessinsider.com/novogratz-on-bitcoin-and-banks-2014-5

Yes former Google employees created twitter.

And don't forget former Microsoft employees created Steam.

just out of curiosity: what is Twitter's business model?

When I hear the word "Microsoft", I remember brown-colored Zune and Steve Balmer jumping and screaming "developers!" at the stage.. ..Both went down to tubes..

To make a pile of money in 140 characters or less.

they should quit that stupid idea and start mining coins.

I like getting reminded just how many people are involved in bitcoin.

Actually, I am not sure if it is such a good info. If many of these guys with millions to invest go onto national TV saying how great investment bitcoin would be - do you think they are about to buy it? Or rather bought as much as they want already?

Most GS partners ex or present are smart douchebags
He has no crystal ball into the future, he i just talking his book thatsall

My point was that investors make this kind of statements AFTER they bought in, not BEFORE. So the fact the so many institutional investors talk enthusiastically about bitcoin is not such a good sign. Normally, if something is talked about as being great investment on national TV (or in press) it is way TOO LATE to buy. Has nothing to do with this guy's intelligence level.

To provide a useful service and then sell advertising


So the value of bitcoin is to enable talent which has been lost or suppressed for one reason or another, is how Im reading that.  Seems a valid premise for an investment though he might want to just support/share in the businesses more directly rather to hold just the coins themselves

why isn't bitcoin prices going up? is it purposely being depress for hedge funds to buy more?

Well, based on their interviews, looks more like they try to inflate the price

If you look at this in the context of second markets ongoing investments, it looks to me like the only reason we're not dropping a lot more at the moment is because institutional investors are buying up when it's relatively low. How low will it go? Maybe a lot lower, but the overall pattern is bitcoins are being transferred from get-rich-quick individuals to long term investors who understand what a threat to the global banking industry bitcoin is. Strange that the best allies in the fight against the banks would turn out to be hedge funds and not cypherpunks.

Exactly. Hedge funds are not trying to pish the price down - to the contrary, they already have vested interest in it rising

The article specifically states that they have about 13 million invested in bitcoin. While 13 million dollars is quite a chunk of change, large companies could invest quite a bit more than that so I would expect that there is more room in their portfolio for bitcoin if they feel it's right to do so.

Finally some positive news !  ;D LOL actually we had only positive news in the last months, except our friends the chinese...

yay. greedy bankers cant be wrong, the price is too low now for them to make a killing selling them at current levels.

It looks to me that he is at loss and loosing momentum.

"...So there’s this open source community where there’s huge brain power, let alone all the VC money that’s going in. And so from Marc Andreessen and his company to Benchmark… there’s lots of smart money going in. I’ve never seen a small project with more human capital going into it, and so I kind of want to bet just on that alone."

Nice! Another example of the media cycle turning strongly positive.  :)

Fortress is like a typical bagholding tard, who bought at the top, has lost half of it's investments and now is trying to act like everything is super. I bet that there won't be long till they will start holding hands with Barry Silbert

hmm ... lets see ... i think once one hedgefund goes in .. others will follow suit

I agree, but it would not be smart to discern the fact that other funds might want to enter into bitcoin.

Of course it might. I think that we haven't had a period yet, where there wouldn't be a chance that new wealth might enter. "Everything is going super!" talks from Fortress doesn't increase the chance, that it might happen though. They are not neutral and their history doesn't exactly show them as competent in the subject.
I'm tired of these "someone has a really good feeling about bitcoin!" news, and the way how the cultists try to present these news as important.

Everyone here knows Bitcoin will change the world.  It is simply going through a rough patch, of which there will be many

A lot people outside here know that once adoption rate reach its limit, Bitcoin will collapse

When bullshit happens, remember what you said  :D

We really needed a new ugly troll, UglyTroll.
Welcome to the forums.  :)

http://www.skjoldlodge.com/images/trolls/ugly_troll.jpg

+1

There are in best estimates somewhere 30,000 individual programmers working on Bitcoin
Well that is a good bull signal  ;D

Does the Linux core have that many individual programmers, or any Open Source project?
Even 10 to 15K sounds like a lot.

Because your a$$ is not out there buying or spending more BTC...Everyone is hodling and we are on a slow boat to Bangkok right now~

All this good news is keeping the market from falling sharply.
Soon enough, China and Gox will not be able to scare the market any more.

China markets start to consider different bank services in place of those based in China.

China consumers are still most important factor for bitcoin price since they actually need some kind of alternative for yuan.

When it comes to anything related to Goldman Sachs, I can't believe any one is listening to them since 2008 events.