Goldman Sachs Restarts Cryptocurrency Desk, Will Begin Dealing Bitcoin Futures (reuters.com) 34
Goldman Sachs Group has restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients from next week, Reuters reported Monday, citing a source. From the report: The team will sit within the U.S. bank's Global Markets division, the person said. The desk is part of Goldman's activities within the fast-growing digital assets sector, which also includes projects involving blockchain technology and central bank digital currencies, the person said. As part of this work, the bank is also exploring the potential for a bitcoin exchange traded fund and has issued a request for information to explore digital asset custody, the source said. The trading desk reboot comes amid growing interest by institutions in bitcoin, which has soared more than 470% over the past year. The largest cryptocurrency is seen by investors and some companies as a hedge against inflation as governments and central banks turn on the stimulus taps.
Yeah, the earth is too cold anyway (Score:1)
This has to be one of our worst inventions ever.
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Producing electricity via fossil fuel power plants? I agree.
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Even that wouldn't be so bad if these crypto-crap assholes weren't shunting it directly to ground
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wouldn't be so bad if these crypto-crap assholes weren't shunting it directly to ground
This isn't an issue with the crypto, and it's not really an "Assholes" problem, as they're just following human nature.
If the miners are creating unreasonable demands on electricity, then this calls for a correction of electricity pricing for the mining operations -- Probably, in the form of local taxes on operation of large-scale mining facility above a certain size as percentage of units mined, And some form of
hahhaa don't bark about "legitimacy" (Score:3)
This is zero risk for Goldman, they'll make money going long or short even to augering into ground. Alrighty suckers, pony up. Don't be a bag holder.
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You think it's unstable now? You ain't seen nothing until the pros get involved. With any luck this will be the beginning of the end for Bitcoin.
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haha, yeah I wouldn't touch this bucking bronco of a game token with a ten foot pole, it's toxic shit long, short or hold. ditto for all of the cryptocrap.
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Goldman Sachs got a bailout in 2008, turn that crystal ball the right way up.
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Why not use the volatility to your advantage? You can set up a trading robot and take small profits many times per day. I'll be sad if many crypto assets become stable because I'll lose a nice source of passive income.
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Transactions take too long to clear, can go to hours when the system bogged with panic or buyer frenzy since bitcoin infrastructure doesn't scale.
Like I said, the shit is way too toxic to be involved with at all.
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That would only be a concern when transferring crypto in or out of an exchange and converting it to/from fiat.
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No, it's a concern paying someone else too. With money (as opposed to this game token) I can pay someone in seconds.
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You could at least post something that was current [99bitcoins.com] (not even updated since 2017 lolz!):
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> My favorite part of your post is that you made it in 2021, complaining about a web site that stopped bothering to aggregate Bitcoin death predictions in 2017.
My favorite part is how you tried to claim they stopped in 2017 to try to get the last word in.
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that's a future based on BBR, bitcoin reference rate which is once a day thing in one hour window 4pm London time
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That's correct, but so?
"oh, yeah... huh... you're totally right... but... well... huh... who cares anyways, right?"
Tell him the good part (Score:2)
Obligatory Trading Places [youtube.com] scene.
Why do business with Goldman? (Score:1)
Seriously, after 2009, why the hell would any sane individual do business with GS? Institutions maybe and governments certainly....
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If you're a gazillionaire then Goldman Sachs is your best buddy, they have alumni sprinkled like magic fairy dust throughout the upper echelons of a dozen governments that ensure you and your investments will never be damaged in any way and that there will always be plenty of taxpayer money available to bail you out if you do something stupid on your own. Plus their tax avoidance and money laundering services are second to none, and the aforementioned alumnus fairy dust ensures your protection. Sure, thei
Non deliverable forwards ... (Score:2)
That's not plain gambling how?
Itchy and Scratchy Land (Score:2)
I don't know why but this is the first thing that came to mind:
"...where nothing could possiblie go wrong. Oh. That's the first thing that's ever gone wrong."
Bank wins (Score:1)
A veneer of purpose (Score:2)
ultimate investment product (Score:3)
Cypto-currencies are the ultimate investment product.
They represent absolutely nothing.
They cost a fortune (of real money) to create and maintain.
They can disappear in a puff of IT smoke.
Futures and non-deliverable forwards just take them to the next order of non-existence.
Betting on a few electrons, the ultimate casino.
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