Goldman Sachs drops the BTC bomb...

[murkster]

Goldman Sachs Sees Bitcoin Future in Payments Over Money

http://www.bloomberg.com/news/2014-03-12/goldman-sachs-sees-bitcoin-s-promise-in-payments-over-currency.html

Goldman Sachs drops the bomb: BTC represents potential annual Retail, E-Comm, Remittance savings of +$210 billion

https://pbs.twimg.com/media/BiifP-HCAAAeAZY.png:large

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[cedivad]

If you can't beat them, join them.

Bitcoin won already.
Posted from Bitcointa.lk - #9NWBUBQvKmNrdxO1

[LiteCoinGuy]

there were alot of good reports about btc from banks in the past months. the worst report was from JP, all others were quite positive.

[db]

Zerohedge posted the actual report in their article about it.

[kjlimo]

Zerohedge posted the actual report in their article about it.

Thanks for the link!  I'll look at this report soon.

[BitOnyx]

Eric Posner act like advocate of bitcoin in those reports.

Nice report to read for everybody interested. From Goldman Sachs I expected something more PR oriented then intellectual, but yeah....

They also put very important question, is bitcoin a currency? They answer is interesting, but i guess they haven't look on long period of time and mining difficulty factor. Also comparing it to traditional currencies is rather pointless. 

[tinus42]

This would mean a valuation of $16,786 per bitcoin (based on current amount of BTC) and $10,000 at the lowest (based on the maximum amount) considering these estimates alone.

To the moon!!! ┗(°0°)┛

[b!z]

Great news! It's good to see that banks are not completely against BTC.

[notthematrix]

Great news! It's good to see that banks are not completely against BTC.

Well people can not be against bitcoin , it does not need growth witch means more waste of earth resources to create this growth , the current system will collapse if there is no inflation/growth while resources are harder and harder to find.
so the questing is how to get out ALL TOGETHER out of this inflationary monster without a complete world war....
Answer ......... let the decentralized bitcoin develop and grow since it has the highest change also to be accepted by your enemy!
so bitcoin might be verry wel the LESSER evil even from a central bankers prespective!

[thutrant]

That is good news finally,  but I'm hoping JP would eventually follow suit because that's where I bank with.

[LiteCoinGuy]

The fail is strong with that logic. If market cap is 10 billion, it would not take another 10 billion inserted into the market to double the market cap (same applies to price per coin).
Bitstamps trading volume yesterday was approximately equivalent to $2.4 million usd. If a potential buyer had sunk in $100 million, or even $10 million, the price would have increased significantly.
  

This would mean a valuation of $16,786 per bitcoin (based on current amount of BTC) and $10,000 at the lowest (based on the maximum amount) considering these estimates alone.

To the moon!!! ┗(°0°)┛

agree. little money can move alot.

[Denton]

as more bitcoins are created, the mathematical computations required to create more become increasingly difficult

I'm disappointed that they got this simple thing wrong.