41–50 of 487 posts
Welp pretty much knew this would happen all along. I was hoping crypto would remain independent of banks, but nope. Not long before big banks take over crypto exchanges, develop dark pools, and manipulate it. Not much we can do now
Only if you make a crypto that runs on any device, needs tiny amounts of energy and therefore is impossible to take over.
They typically do this for a few reasons: 1. High net worth clients demanding such products. 2. Obvious FOMO. 3. In case this crypto thing becomes big they don’t want to be criticized. 4. All companies are seeing a nice bump in their share prices with any association to crypto
This kind of covers every conceivable case for doing this. If you list enough reasons you're bound to be right on one of them.
Earlier quoted context omitted.
HNWIs are definitely starting to talk about and ask for crypto products. EDIT: I work in the area, not a shill.
Best performing asset class over the last few years. Even if it is a bubble, you might as well allocate a few %'s of your portfolio to it if you're wealthy..
>Best performing asset class over the last few years.
Previous performance is not a predictor.
>Even if it is a bubble, you might as well allocate a few %'s of your portfolio to it if you're wealthy
If it's a bubble it's a terrible idea to allocate a few percentage points to it.
happy trading
Earlier quoted context omitted.
Best performing asset class over the last few years. Even if it is a bubble, you might as well allocate a few %'s of your portfolio to it if you're wealthy..
Well actually that's not what we advise but we're not GS either. >Best performing asset class over the last few years. Previous performance is not a predictor. >Even if it is a bubble, you might as well allocate a few %'s of your portfolio to it if you're wealthy If it's a bubble it's a terrible idea to allocate a few percentage points to it.
Why? The word 'bubble' has negative connotations, but the flip side is the only opportunity of a great multiplier on your investment in a short time is during a bubble. Caveat of course, you can lose a lot of money, but that's why you allocate 1% of your portfolio so you can still survive.
They typically do this for a few reasons: 1. High net worth clients demanding such products. 2. Obvious FOMO. 3. In case this crypto thing becomes big they don’t want to be criticized. 4. All companies are seeing a nice bump in their share prices with any association to crypto
I doubt they care about being criticized and until GS releases Goldman Coin I doubt they're trying to get a share price bump from this.
My best guess is that the "store-of-value that can't be manipulated by banks" is effectively over. Big banks it seems will take over the trading volume of the big crypto coins and develop their own exchanges.
They may be able to partially manipulate the price, but they can't influence the currency or money supply. That's the beauty of crypto.