When did people start caring what Goldman Sachs has to say about Bitcoin!?

[evok3d*]

Take this quote from an article:

"Apparently, the cause of this dump was Goldman Sach’s announcement that it is scraping off its crypto trading desk for now."

Source: https://cryptodaily.co.uk/2018/09/bitcoin-btc-falls-back-to-trend-line-but-will-it-fall-further/

When did people start caring what cartels have to say about bitcoin. have people forgotten what cryptocurrencies were suppose to do? have people really starting looking up to the same people that destroyed the global economy in 2008? This is just insane to me. It would be like Airbnb looking for approval from Hotel chains, or Uber looking for approval from taxi companies.

Seriously, people wake up. Bitcoin never did any of these peoples permission. If you are really looking for the same cartels that have been destroying lives for decades to come and "regulate" bitcoin, then you have fully misunderstood what power you have been given.

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[BTCHeadstone]

I don't think that we should give him attention based on this there are some people who are making it viral and give their unnecessary attention to that news which is bringing more drama to us so we should avoid such types of things.

[Pursuer]

I don't suppose it is that much about caring what Goldman Sachs, SEC, and others say about bitcoin. it is mostly about what they say can affect bitcoin price, in other words it is about speculation.
for example I assure you nobody in bitcoin world gives a flying fuck about what Jamie Dimon of JP Morgan says about bitcoin but bitcoin price dropped about 30% IIRC last year when he called bitcoin "fraud". in a way it has turned into a tradition among market players that whenever some FUD is spread about bitcoin, everyone panic sells. and the funny thing is they sell because they want to buy back more of it not because they think bitcoin is over!

[Initscri]

Because the Bitcoin market is primarily fuelled by hype. Good hype = market increase; bad hype = market plummets.

It's a sad reality, because this exact situation is what allows large corps like Goldman Sachs to manipulate the price.

[Lignxxx]

This is really heartbreaking for the cryptocurrency community. After showing plans to open a trading desk for Bitcoin earlier, Goldman Sachs has finally aborted his plan. According to the report, they are finding it difficult to regulate cryptocurrency. The whole cryptocurrency market is astound with this news. This is already affecting the prices of Bitcoin and other currencies.

[squatter]

More than the Goldman Sachs flip flop, all this gushing over ETFs was real a eye opener for me. Give me a break! They're paper markets where you trust institutions to back pieces of paper with a peer-to-peer currency! Just say that out loud. Have you ever heard of anything so nonsensical?

It raises some interesting questions about who Bitcoin investors are (at this point) and where their principles lie -- how easily they might be co-opted in the future. Many people are now so greedy for price gains that they're praying Wall Street involvement will pump the price, principles be damned. If they really understood Bitcoin, they wouldn't advocate for all the counterparty risk that paper Bitcoin markets will create.

[OgNasty]

In my opinion the dump had more to do with the recent large movement of coins from an old wallet than any GS statement.

[hatshepsut93]

Because noobs are very sensitive to any news, they think that everything can move Bitcoin's price, especially when Bitcoin is directly mentioned. This is probably because crypto news sites report anything slightly related to Bitcoin's price, and they also like to suggest a connection between price moves and some events, to boost their own relevancy. This might be especially notable now, during the bear market, because a lot of newcomers got #rekt by jumping into Bitcoin near the top of the bubble, so they desperately look for anything that in their opinion could trigger a new run.

[Pursuer]

In my opinion the dump had more to do with the recent large movement of coins from an old wallet than any GS statement.

the timing of it doesn't match the drops if you check the charts.
basically the news about SilkRoad $1billion bitcoin movement started on 30 August, price was $7050+ and went down to $6800ish and then from 31 to September 5 price continued rising after the "hiccup" up to ~$7400 then the news about GC came out and price dropped on the same day. here is the link with dates:

8 days ago (large movement of coins):
https://www.reddit.com/r/Bitcoin/comments/9bwsaf/investigating_the_1b_bitcoins_on_the_move_from_a/

4 days ago (GC):
https://www.bloomberg.com/news/articles/2018-09-05/bitcoin-drops-3-in-10-minutes-as-cryptocurrencies-join-selloff

link to price for comparison with dates: https://bitcoinwisdom.com/markets/bitstamp/btcusd

[figmentofmyass]

I don't suppose it is that much about caring what Goldman Sachs, SEC, and others say about bitcoin. it is mostly about what they say can affect bitcoin price, in other words it is about speculation.
for example I assure you nobody in bitcoin world gives a flying fuck about what Jamie Dimon of JP Morgan says about bitcoin but bitcoin price dropped about 30% IIRC last year when he called bitcoin "fraud". in a way it has turned into a tradition among market players that whenever some FUD is spread about bitcoin, everyone panic sells. and the funny thing is they sell because they want to buy back more of it not because they think bitcoin is over!

i'm sure it wasn't jamie dimon uttering a few words that caused BTC to drop 30%.

it might have coincided with the correction---IIRC, that story dropped right in the middle of it. but the drop had much more to do with general market conditions and profit taking because we had just made a new ATH and price was going parabolic. good traders expected a harsh pullback given the magnitude of the preceding rise.

[Getcoinsite]

Take this quote from an article:

"Apparently, the cause of this dump was Goldman Sach’s announcement that it is scraping off its crypto trading desk for now."

Source: https://cryptodaily.co.uk/2018/09/bitcoin-btc-falls-back-to-trend-line-but-will-it-fall-further/

When did people start caring what cartels have to say about bitcoin. have people forgotten what cryptocurrencies were suppose to do? have people really starting looking up to the same people that destroyed the global economy in 2008? This is just insane to me. It would be like Airbnb looking for approval from Hotel chains, or Uber looking for approval from taxi companies.

Seriously, people wake up. Bitcoin never did any of these peoples permission. If you are really looking for the same cartels that have been destroying lives for decades to come and "regulate" bitcoin, then you have fully misunderstood what power you have been given.

My question is why we should take it seriously when people here nowadays are not noob and illiterate about matters,cryptonians now are mature enough to learn that speculation is different from realizations and that is what we must accept

Goldman is just like any other people here that want popularization for hes own interest but concerns nothing but himself

[Kakmakr]

Let's just put this into some perspective here, because this statement is very broad. The "people" that you are referring to in your post is definitely not the old timers and early adopters. The "people" that are influenced by Goldman Sachs antics, is probably people who are also invested in Stock markets or Banks.

These "people" are your typical speculator/trader in fiat currencies and also other commodities. So let's just get this out in the open, before we talk about "people" in general. I will be one of the "people" who would be celebrating, when Goldman Sachs goes down. 

[Bryrsyrog]

We need to be more patient in this condition. The news is really heartbreaking. Goldman Sachs is scrapping off the plan of opening cryptocurrency trading desk. This news has already affected the market and left it astound. We need to be patient with Bitcoin and try not to make the price fall more.

[GoldenShark]

There will be people that will give unnecessary attention to news that will bring more drama to us. There seems to be no need to even give this guy a shed of attention, given his past history with the market.

[enellf]

This seems really absurd that people are actually giving Goldman attention. Have we not learned our fair share of the consequences of giving attention to the wrong news yet? I hope the people will not get themselves into it too deep before it is too late.

[bitcoindiary]

it is basically a place what explains you investment related details and security and it is a global platform but because of some previous unfortunate issues crypto users stop carring or believing on their decision, but I will suggested you to at least have their updates

[HistoryVampire]

I think this less trust issues are happening for the 2008 economic distroy , crypto currency users have not still forgot that incident that is why they are stop caring about their decision but I think we should have the updates

[cryptosmith03]

well as far I know it is group which provides suggestions and gives lead to investment markets , but some people claim that they were responsible for few economic dump so I think everyone is now stop caring about this because of that reason

[cryptogalaxy789]

bitcoin does not fall this aggressive since June 2018. it is more promising and reputable. it will be turn around and make sure good thing for investor.it will rest of the market into a long term bear trend.

[moschinot]

completely agree with the author. I think if we came for help to institutional investors, it means that we spat in the face of our creator