[2015-12-07] GS Stock: The Goldman Sachs Group, Inc. Wants to Take Down Bitcoin

[Sturgeon]

There are few certainties in this world, but one of them is that The Goldman Sachs Group, Inc.
(NYSE:GS) will always be one step ahead of the pack. That is an unflinching truth that will keep GS stock atop the financial pyramid, especially now that the company is patenting its own version of Bitcoin.
Goldman Sachs filed a patent application for its own cryptocurrency settlement system, meaning it intends to challenge Bitcoin for digital dominance. I’ve been known to be a little pessimistic about Bitcoin (because it will never work) and cryptocurrencies in general; however, this is a little different.

http://www.profitconfidential.com/stock/gs-stock-the-goldman-sachs-group-inc-wants-to-take-down-bitcoin/

[LiteCoinGuy]

lol news...

[virtualx]

There are few certainties in this world, but one of them is that The Goldman Sachs Group, Inc.
(NYSE:GS) will always be one step ahead of the pack. That is an unflinching truth that will keep GS stock atop the financial pyramid, especially now that the company is patenting its own version of Bitcoin.
Goldman Sachs filed a patent application for its own cryptocurrency settlement system, meaning it intends to challenge Bitcoin for digital dominance. I’ve been known to be a little pessimistic about Bitcoin (because it will never work) and cryptocurrencies in general; however, this is a little different.

http://www.profitconfidential.com/stock/gs-stock-the-goldman-sachs-group-inc-wants-to-take-down-bitcoin/

Yet another altcoin?   Everyone is creating a new coin these days. Taking down bitcoin is impossible even if you are the richest person of the world. Sachs noticed he can earn money in the cryptospace, that is why he is creating an altcoin instead.

[TraderTimm]

Prediction: Banks and Financial Institutions re-inventing the wheel will eventually wake up and use the global hashpower of the Bitcoin network. But not until they've spent a LOT of money spinning their wheels. That's fine, I prefer them not to wake up to the reality until after the next halving, when price will start soaring (if it hasn't already).

The funny thing is, by having a "not invented here" mindset, they are throwing out the most important part, the nearly exo-hashing securing part of the system. Besides, their settlement coin requires another party for trust, which turns their alt-coin into another Ripple-esque centralized nightmare. Should be amusing when they realize that.

[1Referee]

Because Bitcoin will never work? Guess what.... It has been working fine for many years now. Is this article written by a clown?

It's normal that Banks will do everything to avoid using Bitcoin as they would not have the control that they so deeply love. They think creating their own form of digital currency will be enough to surpass Bitcoin, but they will never achieve what Bitcoin has. And at some point they will come back to Bitcoin. It's just a matter of time.