Goldman Sachs is flirting with bitcoin trading

[MWalk]

Seems Like this would be BIG news!!

http://www.businessinsider.com/goldman-sachs-is-flirting-with-bitcoin-trading-2017-10?

[Bitcoin Guy]

This is a good news.  Right now they are only exploring the possibility. 

We are waiting for institutional investors to join the party.  Once they join, the price will be bidded up.

[Merovius]

Yes, I just noticed that same story reported today in a different article:

http://www.zerohedge.com/news/2017-10-02/goldman-shuns-jpmorgans-dimon-plans-bitcoin-trading-operation

The article also mentioned that the head of the IMF Christine Lagarde made some rather favorable comments on cryptocurrencies:

... the technology itself can replace national monies, conventional financial intermediation, and even puts a question mark on the fractional banking model we know today... So I think it may not be wise to dismiss virtual currencies.

This would seem to be good news and suggests that we might be picking up more institutional investment into bitcoin soon.

[MakeMoneyBtc]

This are some great news. More and more business work with bitcoin and also a lot of popular persons involved in bitcoin this year. This shows that bitcoin is going to become the currency of the future. In next years I expect that every big business like google, youtube, ebay to add bitcoin as their currency. This would help bitcoin to grow more and more and become invincible

[pushups44]

This should not be a surprise. Bitcoin has started a blockchain revolution that will impact every industry. Only a fool would be dismissive of the potential of blockchain or of bitcoin's role in spurring new innovation.

[Euro1000]

The exploration of Goldman Sachs is on an early stage. It does not mean that they will definitly trade bitcoins in future - but they check the possbilities.
Anyway: It sounds good.

[krauzzer02]

That's a wonderful news from Goldman Sachs to make an idea of bitcoin trading shop unlike other people who discouraged bitcoin like Jamie Dimon, James Gorman and other people who have negative views about it, well we can't please everybody to believe in bitcoin but later on some of them will change their perspective once the bitcoin will become too successful that they can't reach it. There will be more to come in terms of this good news and bright ideas about this.

[ivrynx]

I just read this article on the web today, i hope there is truth behind this news, if goldman sachs, would consider doing a partnership with bitcoin it will make bitcoin more known, and possibly make the crypto world huge. I think this move will only prove to the world, that bitcoin is legitimate and will surely  give profits to those who invested on it,  if goldman sachs, succeeds with this move, hopefully other banks will follow, thus only showing that when it comes to bitcoins and other cryptocurrencies, there are a lot of possibilities for us to earn, in the same way, i think it will not be far from reality, that goldman sachs will also produce their own crypto coin, making it the first crypto coin made by a bank. I think with this move, goldman sachs, doesn't want to be threatened with cryptocurrencies, rather than bad mouthing bitcoin, they have welcomed bitcoin, i think the saying "if you can't beat them, join them" implies here.

[aardvark15]

Seems Like this would be BIG news!!

http://www.businessinsider.com/goldman-sachs-is-flirting-with-bitcoin-trading-2017-10?

I've heard this and it would be big news. It's ironic with Jamie Dimon making negative statements about Bitcoin. However, any smart investor has to seriously consider cryptocurrencies or they are going to miss out on a huge opportunity. They've already missed the last eight years of huge gains and there's no denying that it's here for the long term.

But of course it is good news when large banks want to invest in Bitcoin. It will probably help drive the price up some and make Bitcoin less volatile.

[wolfracer]

Seems Like this would be BIG news!!

http://www.businessinsider.com/goldman-sachs-is-flirting-with-bitcoin-trading-2017-10?

I like the idea of goldman sachs interested in bitcoin, this would attract big investors to the game and could project new highs for bitcoin, although it also causes me some fear since they are expert speculators. This in the ecosystem will only add one of two things or more stability or more volatility

[jseverson]

Woah, this is awesome! It's nice to actually get good news from bankers for once. I guess we've reached the point where Goldman Sachs can't ignore the rise of Bitcoin anymore, publicly jumping on board. A company as huge as them might just be what Bitcoin needs to get into the mainstream. I'm sure the idea would at least warm up a few doubters to Bitcoins. I hope they push through with this.

[bitcoinjames6]

I saw this article as well on the Wall Street Journal. If this does happen it would be huge.

Good post and share!

[AT101ET]

It's very ironic how something so centralised is showing interest in something created to battle the very essence of banking systems. Having spoken to people in finance almost all have had negative things to say about Bitcoin and most have said it's a bubble waiting to burst.
This is definitely good news. Even the banks know BTC's worth and regardless of their motivation for trading it, this definitely helps widespread adoption

[mbelosto]

another step in direction of global crypto adoption.
big international institutions entering crypto trading and simplifying access to trading for their clients should bring exponentially more new users.
great news!

[CryptoTamer]

this is good news and i think Goldman Sachs has chosen the right way to serve clients in digital currencies
service for clients is important in business, if more and more users of Bitcoin, then every industry will make service in cryptocurrency because the client is king 

[buwaytress]

Actually, they have been flirting with Bitcoin for quite a while now, it was just in July that they started making overt advances when they caved in to client pressure to start adding Bitcoin to their trading signals/predictions. After some remarkably good calls (the level of accuracy surprised even me) I guess it was only a matter of time before they gathered enough courage to ask it out on a first date with direct Bitcoin trading.

Bitcoin can be a tricky relationship, I'm sure they'll find out. She wants full commitment, not just fleeting encounters.

[iamTom123]

Seems Like this would be BIG news!!
http://www.businessinsider.com/goldman-sachs-is-flirting-with-bitcoin-trading-2017-10?

Yes, this can indeed be a big news especially in light with the many comments made by Mr. Jamie Dimon describing Bitcoin as just a fad and a possible scam later on. Here is a big financial firm looking on how to capitalize on digital currencies since they felt that there is a demand for it and of course they want to have a part of the pie of profits possibly they can get out of cryptocurrency.

In other words, Mr. Dimon even promoted Bitcoin because his comments put the currency on the radar and map of the popular media and people ere wondering what he was talking about. So to Mr. Dimon: thanks for promoting Bitcoin but since I don't like your face please stop commenting on Bitcoin because you are not that influential anyway.

If Goldman follows through, it will be the first blue-chip financial services firm to break into the cryptocurrency market, which this year has exploded in value.

Goldman's C-Suite has kept pretty quiet about digital coins. The rest of Wall Street has mixed reviews. On one hand, JPMorgan CEO Jamie Dimon called bitcoin "a fraud" and likened it to the tulip-bulb bubble of the 1600s. On the other, James Gorman, Morgan Stanley's CEO, has taken a more moderate position on bitcoin, saying last week it was "more than just a fad." Bitcoin, the largest cryptocurrency by market cap, is up 360% this year.

Source same as above...

[RoommateAgreement]

with the growth of bitcoin, specially this year with all the price rise and the biggest news of all being Japan adopting bitcoin this big, everyone is getting involved with bitcoin. some big names will obviously also come into the game. some do it publicly and positively and some of them do it hidden and show a false negative front like JP Morgan. but they are all getting involved with bitcoin and they are all accumulating more and more because they know the future of it.

[xskl0]

I was told when I started that Bitcoin was against banks and viceversa

[squatter]

It's very ironic how something so centralised is showing interest in something created to battle the very essence of banking systems. Having spoken to people in finance almost all have had negative things to say about Bitcoin and most have said it's a bubble waiting to burst.

It's not ironic. They are an investment bank and broker, not a central bank. People often confuse the former with the latter. I'll bet Goldman Sachs was accumulating positions on NVDA for years while watching the cryptocurrency economy blossom. They're good at what they do -- investing and trading. And they're happy to take a fee for brokering crypto investments for clients. Central banks probably don't like the smell of all this, but that's a different matter entirely.