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Author Topic: [2018-05-03] Goldman S. Will Trade Bitcoin, Bitcoin Futures Coming Within Weeks  (Read 41 times)
tyz
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May 03, 2018, 04:03:25 PM
 #1

Goldman Sachs Will Trade Bitcoin, Bitcoin Futures Coming ‘Within Weeks’

Wall Street investment bank Goldman Sachs has appeared to confirm it will offer Bitcoin trading. Speaking to the New York Times May 2, Goldman executive Rana Yared said that after being “inundated” by client requests, the bank had decided that Bitcoin “is not a fraud.”

http://bitcoinist.com/goldman-sachs-trade-bitcoin-futures/

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May 03, 2018, 05:26:47 PM
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Goldman executive Rana Yared said that after being “inundated” by client requests, the bank had decided that Bitcoin “is not a fraud.”

 Shocked

this was very strange, they did not do research before accusing bitcoin of being a fraud? they simply looked at bitcoin and said, "It's a scam." Wow, this is how a bank operates? joking, they have spoken less badly about bitcoin and at the for years it has been shown much less aggressive in relation to bitcoin

The bank’s first step will be trading Bitcoin futures, something due to occur “in the next few weeks.”

let's wait and see if they really will do, because we've seen many false promises and we've always been deceived and disappointed

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May 03, 2018, 07:11:14 PM
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Goldman executive Rana Yared said that after being “inundated” by client requests, the bank had decided that Bitcoin “is not a fraud.”

 Shocked

this was very strange, they did not do research before accusing bitcoin of being a fraud? they simply looked at bitcoin and said, "It's a scam." Wow, this is how a bank operates? joking, they have spoken less badly about bitcoin and at the for years it has been shown much less aggressive in relation to bitcoin

It's strange, and on the other hand not really that strange. From their perspective it's a scam or fraud if no one from the 'genuine' channels is interested in it. In this case they are very interested, and even consult their main bank to serve them in a better way when it comes to Bitcoin. Their clients could either be wealthy individuals, institutions, hedge funds holding their accounts there, etc.

Banks are like sluts, they are where the money is, and Bitcoin offers them that money. At some point every major bank will offer their clients the opportunity to buy and sell crypto. It's just a matter of time. I am quite sure that they will be going to compete with exchanges, and they might even gain somewhat of an advantage, especially when it comes to newbies trying to buy their first coins. No verification needed, no waiting before your wire transfer posts, etc.

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May 04, 2018, 03:30:58 AM
 #4

Goldman executive Rana Yared said that after being “inundated” by client requests, the bank had decided that Bitcoin “is not a fraud.”

 Shocked

this was very strange, they did not do research before accusing bitcoin of being a fraud? they simply looked at bitcoin and said, "It's a scam." Wow, this is how a bank operates? joking, they have spoken less badly about bitcoin and at the for years it has been shown much less aggressive in relation to bitcoin

It's strange, and on the other hand not really that strange. From their perspective it's a scam or fraud if no one from the 'genuine' channels is interested in it. In this case they are very interested, and even consult their main bank to serve them in a better way when it comes to Bitcoin. Their clients could either be wealthy individuals, institutions, hedge funds holding their accounts there, etc.

Banks are like sluts, they are where the money is, and Bitcoin offers them that money. At some point every major bank will offer their clients the opportunity to buy and sell crypto. It's just a matter of time. I am quite sure that they will be going to compete with exchanges, and they might even gain somewhat of an advantage, especially when it comes to newbies trying to buy their first coins. No verification needed, no waiting before your wire transfer posts, etc.

That's how new things usually come about... first, they are laughed at, then they are violently opposed, then they are accepted as a self-evident truth.
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May 04, 2018, 04:35:41 AM
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 #5

Now this is the reality where the bitcoin is unbeatable as the adage goes " if you can't beat them, join them" . This is very laughable situation of the Goldman "SUCK", they are trying to demote bitcoin as a fraud and scam last year but the bitcoin is still persist standing rock solid in its position as the dominant crypto but Goldman "SUCK" gives us benefit though as they join the bandwagon of this crypto industry, another ATH of bitcoin this quarter. Thanks Goldman.

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May 04, 2018, 07:30:46 AM
 #6

Goldman Sachs Will Trade Bitcoin, Bitcoin Futures Coming ‘Within Weeks’

Wall Street investment bank Goldman Sachs has appeared to confirm it will offer Bitcoin trading. Speaking to the New York Times May 2, Goldman executive Rana Yared said that after being “inundated” by client requests, the bank had decided that Bitcoin “is not a fraud.”

http://bitcoinist.com/goldman-sachs-trade-bitcoin-futures/

I doubt if something as big as this will be reported by crypto publications rather than the mainstream media. Big newspapers definitely have better access to these big companies. Plus Rana’s Comments hardly indicate that Goldman will take an active role in trading cryptos.


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May 04, 2018, 12:07:13 PM
 #7

The article cited its source, which appears to be this piece:

https://www.nytimes.com/2018/05/02/technology/bitcoin-goldman-sachs.html

From the original source:

Quote
While Goldman will not initially be buying and selling actual Bitcoins, a team at the bank is looking at going in that direction if it can get regulatory approval and figure out how to deal with the additional risks associated with holding the virtual currency.

Quote
In the next few weeks — the exact start date has not been set — Goldman will begin using its own money to trade Bitcoin futures contracts on behalf of clients. It will also create its own, more flexible version of a future, known as a non-deliverable forward, which it will offer to clients.

They will be trading futures contracts, not Bitcoin itself. Instances like this make it hard to trust crypto news sites. They need to be clickbait-y for traffic, it seems.

But yeah, they do seem to be looking at the possibility of trading actual Bitcoins, but not anytime soon. They're looking to secure regulatory approval from authorities first among many other things.

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