Former Goldman Sachs Partner Bullish on Bitcoin (5/5/2014)

[Raystonn]

Former Goldman Sachs partner and current Fortress Investment Group CIO Michael Novogratz says the smartest guys in the room have all turned their attention to Bitcoin.

http://www.businessinsider.com/novogratz-on-bitcoin-and-banks-2014-5

[kireinaha]

[designfail]

Former Goldman Sachs partner..

[BitCoinDream]

Former Goldman Sachs partner..

Yes former Google employees created twitter.

[Arghhh]

Former Goldman Sachs partner..

Yes former Google employees created twitter.

And don't forget former Microsoft employees created Steam.

[designfail]

Former Goldman Sachs partner..

Yes former Google employees created twitter.

just out of curiosity: what is Twitter's business model?

[designfail]

Former Goldman Sachs partner..

Yes former Google employees created twitter.

And don't forget former Microsoft employees created Steam.

When I hear the word "Microsoft", I remember brown-colored Zune and Steve Balmer jumping and screaming "developers!" at the stage.. ..Both went down to tubes..

[cbeast]

Former Goldman Sachs partner..

Yes former Google employees created twitter.

just out of curiosity: what is Twitter's business model?

To make a pile of money in 140 characters or less.

[designfail]

Former Goldman Sachs partner..

Yes former Google employees created twitter.

just out of curiosity: what is Twitter's business model?

To make a pile of money in 140 characters or less.

they should quit that stupid idea and start mining coins.

[Alley]

I like getting reminded just how many people are involved in bitcoin.

[Bitcoin_is_here_to_stay]

I like getting reminded just how many people are involved in bitcoin.

Actually, I am not sure if it is such a good info. If many of these guys with millions to invest go onto national TV saying how great investment bitcoin would be - do you think they are about to buy it? Or rather bought as much as they want already?

[TrailingComet]

Most GS partners ex or present are smart douchebags
He has no crystal ball into the future, he i just talking his book thatsall

[Bitcoin_is_here_to_stay]

Most GS partners ex or present are smart douchebags
He has no crystal ball into the future, he i just talking his book thatsall

My point was that investors make this kind of statements AFTER they bought in, not BEFORE. So the fact the so many institutional investors talk enthusiastically about bitcoin is not such a good sign. Normally, if something is talked about as being great investment on national TV (or in press) it is way TOO LATE to buy. Has nothing to do with this guy's intelligence level.

[STT]

just out of curiosity: what is Twitter's business model?

To provide a useful service and then sell advertising

I’ve never seen a small project with more human capital going into it, and so I kind of want to bet just on that alone."

So the value of bitcoin is to enable talent which has been lost or suppressed for one reason or another, is how Im reading that.  Seems a valid premise for an investment though he might want to just support/share in the businesses more directly rather to hold just the coins themselves

[nangetsu]

why isn't bitcoin prices going up? is it purposely being depress for hedge funds to buy more?

[Bitcoin_is_here_to_stay]

why isn't bitcoin prices going up? is it purposely being depress for hedge funds to buy more?

Well, based on their interviews, looks more like they try to inflate the price

[spiderbrain]

If you look at this in the context of second markets ongoing investments, it looks to me like the only reason we're not dropping a lot more at the moment is because institutional investors are buying up when it's relatively low. How low will it go? Maybe a lot lower, but the overall pattern is bitcoins are being transferred from get-rich-quick individuals to long term investors who understand what a threat to the global banking industry bitcoin is. Strange that the best allies in the fight against the banks would turn out to be hedge funds and not cypherpunks.

[Bitcoin_is_here_to_stay]

If you look at this in the context of second markets ongoing investments, it looks to me like the only reason we're not dropping a lot more at the moment is because institutional investors are buying up when it's relatively low. How low will it go? Maybe a lot lower, but the overall pattern is bitcoins are being transferred from get-rich-quick individuals to long term investors who understand what a threat to the global banking industry bitcoin is. Strange that the best allies in the fight against the banks would turn out to be hedge funds and not cypherpunks.

Exactly. Hedge funds are not trying to pish the price down - to the contrary, they already have vested interest in it rising

[lyth0s]

The article specifically states that they have about 13 million invested in bitcoin. While 13 million dollars is quite a chunk of change, large companies could invest quite a bit more than that so I would expect that there is more room in their portfolio for bitcoin if they feel it's right to do so.

[Mythul]

Finally some positive news !  LOL actually we had only positive news in the last months, except our friends the chinese...