There will be a global cryptocurrency, but not bitcoin says EX Goldman Sachs

[brickafterbrickwalldpt]

There is nothing difficult in using Bitcoin, especially if you use a proper wallet. People don't need to understand how mining works. Is he trying to say that we will have something similar to Ripple as a global currency? That wouldn't be so interesting. Some governments may try to aim for cryptocurrencies which are partialy centralised. Bitcoin does not allow them to block certain transactions and wallets so it shouldn't surprise anyone that they are against it. PoW might be not a good solution. There are many other protocols which could be used

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[BChydro]

Finally they admit that some cryptocurrency will be traded globally in the future and it is a contrast on what they said earlier about the entire market, if they can come out and claim that bitcoin wont be the globally traded currency in the future, which decentralized coins have that ability, they can just close their eyes and say anything but the world will move on.

[eaLiTy]

Cohn believes that world will have global cryptocurrency in future but it will not be a Bitcoin. 
The future will have simpler global cryptocurrency

The solution for a simpler global cryptocurrency is available with bitcoin, they need some great front end development and wallets that can be used by anyone and it will happen in the near future, even now we have mobile wallets which is easy to use and transact the coins without much fuss and i am sure in the future we will have some integration with mobile phones where you could send money to your contacts with the help of an app which could link every contacts to the wallet.

“I'm not a big believer in bitcoin. I am a believer in blockchain technology. I do think we will have a global cryptocurrency at some point where the world understands it and it's not based on mining costs or cost of electricity or things like that”.

He has the wrong idea about things as the price of bitcoin is not based on mining cost or cost of electricity, it is simply supply and demand.

[HabBear]

Of course it won't be Bitcoin, according to Goldman Sachs, it would have to be a Goldman Sachs created cryptocurrency. They'll keep denying and it'll just bring great free press and push people to the strongest competitor against the big banks.

Any believer in Bitcoin, any hodler, knows that the big banks can redeem themselves through simply adopting blockchain to find a way to make more money.

Saying "I believe in blockchain, but Bitcoin isn't going to survive" is the most cliche response from corporations and governments. They can't accept the great idea, unless it comes from their own brain trust.

[pitiflin]

I think that much like fiat currencies, there will be multiple global cryptocurrencies that will enjoy mass adoption.

The difference is that these currencies will not be bound by imaginary borders within specific countries like fiat currencies.

Technically we are in such a situation. Bitcoin and every other crypto is global. Anyone can use it. It is not bound by imaginary borders. There is mass adoption of bitcoin and the other cryptos. So what is this discussion all about?

[xiboothrezi]

Finally they admit that some cryptocurrency will be traded globally in the future and it is a contrast on what they said earlier about the entire market, if they can come out and claim that bitcoin wont be the globally traded currency in the future, which decentralized coins have that ability, they can just close their eyes and say anything but the world will move on.

The good news, cryptocurrency is being accepted. It's just that "they" want to make a competitor for bitcoin they can control, maybe to get a lot of benefits. I do not know, a decent decentralized system would definitely be the top choice. We need change.

[bukikbarisan]

this is the necessity of the times. There should be a decentralized digital currency. But Goldman says there will be cryptocurrency but it will not be a bitcoin. Bitcoin is the oldest crypto and I think it should be a global currency but Goldman says otherwise in the article.

[RoftheN]

Bitcoin is the first of its kind and that it has been field tested for almost a decade, proving its usability and performance capabilities in the process, is just inappropriate.

Of course, it has run into a lot of issues along the way. Bitcoin mining truly is very energy-intensive, it has problems with handling high volumes of transactions and it has become slower as such. It’s also true that there are currently existing alternatives which perform better in certain aspects.

But I still don't support EX Goldman Sachs's views.

[Kakmakr]

A lot of the replies focus on him being a former Goldman Sachs employee, but I think what is important is that he was a advisor to Donald Trump. So he might paved the way for a GovCoin and that is why he is saying that Bitcoin will not be the global crypto currency.

I think in his advisory capacity to the president, he might have focussed on introducing a new coin to supplement the US Dollar.

[pat4cryptoreal]

In His speech He stated that he does not like bitcoin that much so he will say anything to discredit bitcoin. Even in the future we have a more popular and globally accepted coin than bitcoin I will still acknowledge bitcoin and satoshi nakamoto as the greatest. There is still room for improvement for anyone.

[Gabb]

Of course, no one agrees that the entire economy of the world should be concentrated on a single cryptocurrency, as this would imply a paradoxical centralization that would converge many interests around the bitcoin that could jeopardize its viability, in addition to the fact that the btc does not seem to have the enough capacity to meet the great demands of the global economy.

[cryptohunter]

Sounds like a person that knows zero about crypto currency

[LastHope99]

Bitcoin is already a value storage, so it may not be the payment means, but it will retain the role as a storage of value, which is equally important to playing with crypto.

[Nunii]

Maybe, who knows? We need a much more simplified method wherein everybody can understand it or somehow really use it without further complications. Bitcoin is widely known and has become popular since it began all this stuff and technology. As of now, we see blockchain technology improving and maturing while targeting different industries it can reach for innovation and efficiency. Soon enough, this tech will be at much more higher position which will receive the well deserved respect from every community. Further, they should look at the security side of the users while adopting this tech for a faster adoption.

[pawanjain]

It's his opinion and it may or may not be true. We can only wait to see what actually happens in the future. Even if BTC won't be accepted as a global cryptocurrency then according to him some cryptocurrency will surely be accepted globally. This is a good news because any cryptocurrency if accepted globally will definitely boost the sales of BTC in the market as it will be traded with the BTC pair too. So in an indirect BTC will be benefited whatever the case is. 

[carlisle1]

Well everyone has their right to express what thy think is true but this is just a showing of respect,i am not one of those believers,because for me only bitcoin fits everything in regards future currency and technology

That former president literally said that he is now a believer of bitcoin so its given that he has a bias outview about matters here

[Dexion]

I don't know, I will not think in the future of new digital currencies other than bitcoin.

I am part of a person who is late knowing the crypto world, I don't want to forget bitcoin.

I just want to make a good contribution to bitcoin, so that the value of bitcoin can survive and become a legal payment instrument.

I will not comment long, but I feel that everything I do today can bring the value of bitcoin to the global market.

[coolcoinz]

When will you learn not to follow the banksters. Their mentality is crooked from the years of dealing with printed and devalued fiat money, fictional debt and futures.
All these things have no actual value and exist only because the bankers and governments need them to keep screwing with people's minds.
Most bankers will say that bitcoin is a bubble and a scam but if they block your account with your hard earned money it's not a scam, it's policy.

[dablatair]

Hello,

It is easy to criticise BTC and it surely not perfect even his huges advantages. Perhaps another crypto will take the lead over BTC but I think it will be in many years if it will happen because we are still at the beginning of te markets, quite confused one with projects for everything, but things will evolute and a clearer picture will rise. then we will see if the first is the best or if another one manage to overpassed it.

[Kakmakr]

Yes, their idea of a global Crypto currency is a currency that are centralized in every aspect of the coin from development to the hosting of the nodes to the decision making. They will also strip ALL anonymity from each address being used, because anonymity takes away the control and they need to be in control.

The R3 Group with the help of Mike Hearn are already working on the solution for their centrally controlled global crypto currency.