Lost my faith

[Anon136]

why do you think coinbase is a "goldman sachs operation"?

Fred Ehrsam joins Coinbase

Prior to joining Coinbase, Fred worked at Goldman Sachs as a foreign exchange trader, where he traded both manually and managed their electronic market making platform, supporting in the $ billions in flow a day.  Fred has also worked at BlackRock, one of the largest asset managers in the world, and has been published in the Duke Journal of Economics.  Fred graduated with latin honors and departmental distinction in computer science and economics at Duke.

I find it hard to believe that a young man would leave a promising career at GS to work at a shitty little startup. He's been tasked to get bitcoins.

The Blackrock connection is a giveaway. They're the Jesuits of Money.

goldman sachs i could write off, blackrock i could write off. goldman sachs + blackrock not so much. thanks for the info. i think you are definately right then, they plan to buy quietly and slowly and at some opportune time dump it all in a split second.

if the bitcoin community understand this than it will be nothing more than a great buying opportunity, if they do not than it could start a panic. we shall see.

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[Severian]

they plan to buy quietly and slowly and at some opportune time dump it all in a split second.

I think they're planning to buy them and just keep them for their own private shorting sessions. They don't want the world to have Bitcoin unless they control Bitcoin and the world.

[franky1]

goldman sachs is a commercial investment bank not a central authority bank right?

[Severian]

goldman sachs is a commercial investment bank not a central authority bank right?

Goldman Sachs is whatever they wanna be.

[Anon136]

goldman sachs is a commercial investment bank not a central authority bank right?

the federal reserve bank is chaired by member banks like goldman sachs. so in a way they are the central bank also.

[BitChick]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors

+1 this

Unfortunately I seem to buy higher than the lows.  I guess the new "low" should eventually catch up to my average bitcoin price I paid of $120.  Hopefully anyways . . .

[bbit]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

Never loose faith!

[Liquid]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

Never loose faith!

Bitcoin does not need faith but numbers 

[franky1]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

Never loose faith!

Bitcoin does not need faith but numbers  

Bitcoin does not need faith, but needs acceptance

accepting that its a currency and not a pipe dream of coders
accepting of coins by merchants to increase usefulness
accepting that it will never overtake a government currency, but can work along side it, without government control
accepting that government currency is not the only way to trade

[BitChick]

Take heart people.  We are still early in this.

I just read this article, and posted it in the press section that shows we are all very early investors, which is great news!

http://www.huffingtonpost.com/michel-floyd/bitcoin-huge-hype-belies_b_3499192.html

[pizza]

you need to be baptized in a pool full of bitcoins my son

[QuantPlus]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

You should consider moving to Canada.

[Severian]

the federal reserve bank is chaired by member banks like goldman sachs. so in a way they are the central bank also.

Goldman Sachs has been part of the American central bank scheme since the beginning. GS and JPMorgan are two faces of the same beast anyway.

The scandal that many people do remember nowadays comes from the financial crisis of 2008. In September of that year, it looked like "all of Wall Street was literally imploding overnight," Cohan says, with Goldman Sachs and Morgan Stanley the last two remaining firms. The Federal Reserve decided to make those two bank holding companies, an unprecedented move that gave them access to the resources of the Federal Reserve.

Because so many of its former bankers have gone into government work, Goldman Sachs has an unflattering nickname — Government Sachs. One of the founding partners of the firm, Henry Goldman, was asked by the Cabinet members who would create the Federal Reserve system in 1913 how he would go about doing it, Cohan says, and they mostly followed his lead.

Cohan also points to Sidney Weinberg, a longtime Goldman Sachs partner, who advised presidents from Franklin D. Roosevelt to Eisenhower on financial matters. One day on the subway, Weinberg came up with the name of a man he thought should be Treasury secretary, Cohan says. Weinberg told Eisenhower, who had never heard of the man, and the president appointed him right away.

"This had been going on for a very, very long time, and just continued through every senior partner of Goldman Sachs up until Hank Paulson, as we know, when he was named Treasury secretary," Cohan says.

http://m.npr.org/news/Books/135246269

[coretechs]

Bitcoin is the first a global commodity that is available to anyone with internet access.  It is able to function as the first stateless world currency.  Cryptographic technologies are going to bring on globalization in a way that most of us didn't expect, and the truth is that the reality is ours to construct.  Bitcoin is so much bigger than any single group that uses it.  Find your faith and embrace the possibilities.   

[franky1]

Bitcoin is the first a global commodity that is available to anyone with internet access.  It is able to function as the first stateless world currency.  Cryptographic technologies are going to bring on globalization in a way that most of us didn't expect, and the truth is that the reality is ours to construct.  Bitcoin is so much bigger than any single group that uses it.  Find your faith and embrace the possibilities.   

that would have been the best bitcoin speech i seen. if used in the future though can you please change the word commodity for the words asset or currency. (you choose)

as a commodity is a raw material that has a world wide standard of quality, used in the production of other materials.

then you will have a great and accurate speech

[grue]

why do you think coinbase is a "goldman sachs operation"?

It prolly is...

"it's probably true therefore it must be true!"

[papaminer]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors

+1 this

Unfortunately I seem to buy higher than the lows.  I guess the new "low" should eventually catch up to my average bitcoin price I paid of $120.  Hopefully anyways . . .

When USD's reign is over (AND IT WILL)...

CRYPTO will take the crown..

[BitChick]

When USD's reign is over (AND IT WILL)...

CRYPTO will take the crown..

Hence why I will just keep on holding.  It is a very good idea to diversify investments.  Bitcoin is one of the best ways to do that right now!

[MrBubbles007]

I'm afraid I've lost my faith in Bitcoin. Somebody save me..

great, sell me your coins

[foggyb]

I'm afraid I'm lost my faith in Bitcoin. Somebody save me..

good, you should never have faith in anything. faith is the antithesis of reason and evidence.

Sounds like advice from Hannibal Lector's autobiography.

The word faith is derived from Latin, to trust.