Circle (Goldman Sachs Backed) buys Polniex

[squatz1]

Circle (now owned by Goldman Sachs) is buying out Poloniex, do you think they're finally going to push back into the crypto game and try to make some real money again? I'd think that circle has pretty much been doing nothing since they stopped selling crypto and left all of the business to Coinbase.

I think with the backing of a large company like Sachs, they're bound to do well if proper management and guidance is given (which of course should happen under them)

Here's the link - https://www.bloomberg.com/news/articles/2018-02-26/goldman-backed-circle-buys-digital-exchange-poloniex

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[mrproblem]

We can say that big boys trying to join the game.
Hope it effects crypto markets well and can be a fresh blood for all and we may see all coins as green but I don't think it can be just happens with only circle..

[Andrey123]

The main thing is that the new owners have not introduced any restrictions, as it was before on the stock exchange. Either they didn't steal all the money and they didn't run away.)

[ss890]

Yes heard this news recently on the random website. It seems that circle is pushing themselves hard to get into crypto business with this act. But anyway, any of you does know for how much this deal was closed? I mean that would be astonishing to know what a exchanger itself could be worth. We are not speaking about tokens today but the whole exchanger itself. Lol.

I hope it won't make any aftermath go in bad way as poloniex has been very reputed exchanger until now.

Here is another backing news for this one: https://www.google.co.in/amp/s/www.slashgear.com/bitcoin-price-jolts-as-poloniex-acquired-by-circle-26521109/amp/

[Herbert2020]

the owners of Circle have no idea how to run a business. they are more like children playing adults. they had a crappy service which could not compete with the alternatives such as Coinbase and they didn't make enough money from it. then instead of finding where the problem lies and trying to compete they started whining about how bitcoin is bad. i remember the owner even spreading some FUD about bitcoin's future.

it seems like they couldn't succeed without it and now they are trying to take over a big altcoin pump and dump central called poloniex to make money that way! with the way they have been performing i wouldn't be surprised if they ruin poloniex too!

[Leonard2016]

It's been sold 400 million $ wow!
now the power of crypto is revealing! i think it's a good sign that the number is big.

[ss890]

It's been sold 400 million $ wow!
now the power of crypto is revealing! i think it's a good sign that the number is big.

That's huge money for exchanger which can get them tgeir investment in very short period of time. Seems to me a good deal after all.

the owners of Circle have no idea how to run a business. they are more like children playing adults. they had a crappy service which could not compete with the alternatives such as Coinbase and they didn't make enough money from it. then instead of finding where the problem lies and trying to compete they started whining about how bitcoin is bad. i remember the owner even spreading some FUD about bitcoin's future.

it seems like they couldn't succeed without it and now they are trying to take over a big altcoin pump and dump central called poloniex to make money that way! with the way they have been performing i wouldn't be surprised if they ruin poloniex too!

....But this one is not good.

I read about the circle foundation but the articles says that the founder is very cleanest person and might take the exchanger in right direction.

However I believe poloniex was already good firm with ever growing business. After reading your thoughts on it I think i should rethink about this pumper and dumper exchanger.

We will see the whole scenario getting another direction soon as the circle starts operating it.

[Zsywt1024]

There are also capital from China
This is a good trend, the industry can no longer ignore bitcoin
With the deepening development of blockchain technology, Bitcoin will be more robust

[Kingofbitcoin12345]

Been part of those whom advertised one of Goldman Sachs project before but I totally forget the date or the said ICO (not 💯 sure) as I have so much participation to others.. If this news will spread as this company is a big one that will change the game in trading and poloniex will rise again.. Its a good news for competition means more chances of lesser fees..

[kevoh]

This is a definitely a game changer for poloniex traders and the possibility of having coins/tokens that are usually ignored from being listed now on the list is a welcomed development.

In the meantime, I will love to see how the owners of Circle steer this poloniex ship to success with the number of existing exchanges that are already in competition.

[hasmukh_rawal]

I was getting a happy feeling too when I first read the news. It has been so many days since there has come a positive news in the market. This news has definitely boosted BTC's price since we can see a bug green candle in the charts. Poloniex now might be re-developed again with better interface and customer support. The big people are now turning their heads towards cryptocurrencies. This might be the thing we have been waiting for , for BTC to boom in 2018.

[lockept93]

Good for all other exchanges, many people will leave. In these days there are more exchanges than a few years ago where only a few big exchanges lead the market.

[colake]

The plan of joining the game so that they can have even more control has started.. Decentralization will be even harder to reach day by day. Now investing in this exchange seems to me the same as using a traditional bank because in the end the profits go to the same crowd

[abas_ir]

i hope by this goldman sach support poloniex exchange could add market capitalization and liquidity.if this 2 things realize, thats not be a dream that bitcoin price could hit $40.000 by this year.

[hollie1982]

The plan of joining the game so that they can have even more control has started.. Decentralization will be even harder to reach day by day. Now investing in this exchange seems to me the same as using a traditional bank because in the end the profits go to the same crowd

Off course banks are trying to ride this opportunity. But history tells us that dinosaurs are going to die because of there inability to adapt. New players are going to take over and a lot of bad ideas are not going to make it. Darwin called it survival of the fittest.

[palle11]

It's been sold 400 million $ wow!
now the power of crypto is revealing! i think it's a good sign that the number is big.

This is one of the confirmation that the cryptocurrency is the next lucrative business that investors have now identified. Rather than looking at how to acquire banks, hotels, shopping malls etc, people who have caught the dream are now waking up to acquire crypto trading companies with such large capital. This is surely a good news and more reason to invest as early adopters before the prices go sky high.

[BitHodler]

Good for all other exchanges, many people will leave. In these days there are more exchanges than a few years ago where only a few big exchanges lead the market.

There are more exchanges because this ecosystem has grown significantly in such a short period of time. This however doesn't mean that quantity represents quality, because that's definitely not the case.

I have never experienced a time where even the worst possible noob hole exchanges manage to attract hundreds of thousands of users. It just shows how much greed there is flowing through this market.

Poloniex has a lot potential with Goldman Sachs being more or less the controlling party, but it won't be an overnight transition to change from its current state to a top tier exchange on the level of GDAX for example.

It might even turn out to be a complete flop at the end of the day, so we have to wait and see how Poloniex is stepping up its game.

[desmodiAN]

big established companys buying into crypto is another winning signal.
they wont afford the risk and long time to build such a big central exchange and rather buy a running service.

wait another 3 month and we see more of such moves.

[slothboy]

Decentralized exchange (i.e. kyber.network) should be the mainstream crypto exchange  

[swissgang]

The main thing is that the new owners have not introduced any restrictions, as it was before on the stock exchange. Either they didn't steal all the money and they didn't run away.)

They already want all users to verify their accounts, and verification process is really hard, what any other measure can they take? Overall, this is very good news for the crypto industry.

[MV7]

Goldman has been eyeing crypto for a while now, and has been one of the few major banks that were neutral/positive about crypto, unlike JP morgan and the like.

People haven't been using polo as much as they used to in the past, but it'll interesting to see what happens after this acquisition.

[tomahawk9]

This will help legitimise cryptocurrencies in the U.S, and I think this move could create a snowball effect in the corporate world as more companies might be looking to invest in crypto.And hopefully, we'll see a new customer service in Polo since one of the biggest issues this exchange had (way back when it was still relevant) was the terrible customer support.

[richardsNY]

I have never experienced a time where even the worst possible noob hole exchanges manage to attract hundreds of thousands of users. It just shows how much greed there is flowing through this market.

I think it's pretty easy to find the actual reason for people to massively flow into shitcoin exchanges in the more recent months. If we look at the majority of the higher level exchanges, then basically all people are more or less forced to verify themselves in order to utilize that platform, which a large group of these people understandably don't want for privacy reasons. Their only option is basically to sign up at Yobit, HitBTC, C-CEX, etc. If you think we have seen the worst already, then prepare for the moment the higher level exchanges go really ham on their users due to constantly changing and stricter regulatory requirements. Also, that's what made Binance grow out to be the giant that it is right now, because they are still allowing people to trade and withdraw without verification.