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Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

bloomberg.com

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Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#301

Post by drcross »

jjeaff wrote: post #203
asenna wrote: post #168

What's with all the extreme negativity with Bitcoin and its trading price on HN? I've been noticing that in all the BTC related threads recently. Yes, this is possibly getting too large too fast. Yes there is a chance this is a bubble because the barbers and shoeshine boys are talking about it. But there is also a chance that we genuinely are at the beginning of the transition from Fiat currencies to crypto (beginnin…

>But there is also a chance that we genuinely are at the beginning of the transition from Fiat currencies to crypto Maybe, but the current price is no reflection of that. The current price is based on speculation, not utility. No "maybe" about it.

That's just your opinion. My opinion is that every dollar, euro and yen that stored outside the current financial system is being safely utilised in the bitcoin store of value.

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#302

Post by codinghabit »

MadSudaca wrote: post #219

There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…

Sure I'll give it a shot. My address is: xrb_3y1utuy93zxxmdj4inw1wbuudk7f34ty61ny8g1gwj569haicfebw84hdir5

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#303

Post by rtpg »

MadSudaca wrote: post #219

There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…

I just read the RaiBlocks white paper and it seems really interesting!

The one thing I didn't see in the paper is how you can make sure that other users have logs of your account. Bitcoin gives transaction fees as a way to pay for your stuff to be in the data, but how would I make sure mine is tracked?

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#304

Post by mccoyspace »

When it comes to Bitcoin, I think of Linux as an analogy. When it first emerged, many people questioned it's basic premise: "why is there a new operating system? Everyone uses Windows, or Mac". People didn't know or understand the idea of open source: "Doesn't that just mean people will find bugs and ways to hack it?" "Without a company behind it, how do I know I can trust it in the long term?" At first it's usability sucked. It took forever to get it up and running. It was confusing and hard to learn. It had a small, rabid fan base who kept obsessing about desktop adoption rates and wondering when it would take over. That is all kind of the same vibe as Bitcoin. But just as Linux showed, you don't need a monolithic, centralized entity to back it, it can start slowly and improve over time. "linux on the desktop" basically failed (cue all the linux desktop heads on HH....!) but it completely took over the whole back end of the Internet. Every server runs it. And it then morphed and took over almost all mobile/tablet/smartTV/etc/etc devices. I think something similar could easily happen with Bitcoin. It has securely held Billions of USD equivalents in value for years. The software continues to evolve. Its core technology has morphed into many other formats. And like Linux on the Desktop, maybe the early idea of digital cash will change into another idea, like a settlement layer. who knows? But I remain pretty optimistic about it.

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#305

Post by pyreton »

MadSudaca wrote: post #219

There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…

I'll bite in case it's not too late

xrb_1s5mrcxm7a9h3gduxmnfsbxjce3o7mu65owo8y59fhim9uw46gxc8kaaabug

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#306

Post by vardhanw »

MadSudaca wrote: post #219

There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…

I'll give it a try (was reading up on this on reddit): xrb_1ch1f7gc98rf6b1uekbpawfbtxdftwwhxae3hycdbgmtb9potr9x63p437ms

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#307

Post by vikascoder »

jakupovic wrote: post #197
forgotpassagan wrote: post #186

Earlier quoted context omitted.

For technical reasons, Bitcoin honestly sucks. The block rate is so low that transactions cost many dollars and take hours to confirm. This is only going to continue to get worse, as it turns out that having a global ledger is actually the opposite of a decentralized system. I can't do anything with Bitcoin that I can't do more easily with my credit card. It offers no value except a tool for rampant speculation. Bloc…

'I can't do anything with Bitcoin that I can't do more easily with my credit card.' That's false as your credit card issuer controls who you can and cannot transact with. With BTC you control whom you transact with.

In the absence of regulatory intervention. The biggest risk for Bitcoin is for a country like the USA to outlaw it.

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#308

Post by mulmen »

wslh wrote: post #184
mulmen wrote: post #166

Earlier quoted context omitted.

I honestly can't tell if this is a serious comment.

This is a very serious comment. I am wondering how to recruit professionals to build a trading desk inside my company where we specialize in secure cryptocurrency applications and are part of some venture funds but just don't do day trading. I am also wondering if your comment is serious of not because it doesn't add anything to the discussion.

Yeah I really couldn't tell if you were seriously looking for people or just sarcastically playing the part of someone who was. I'm not surprised it's hard to find qualified people because cryptocurrency is huge right now and there are a lot of people who want to be part of it.

The fact that things are changing so fast that I can't tell if a comment is serious on HN says something I think.

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#309

Post by Anderkent »

StavrosK wrote: post #192
pzxc wrote: post #188

Earlier quoted context omitted.

The lightning network could fix everything, or fail spectacularly. I think an even bigger danger than failing spectacularly is if they take too long to roll it out. Other cryptocurrencies are already gaining some favor because of the situation BTC is in now with the high transaction fees. It has a good chance of working, in my opinion (the lightning network), if they don't dawdle too long. But the clock is ticking.

> I think an even bigger danger than failing spectacularly is if they take too long to roll it out. Other cryptocurrencies are already gaining some favor because of the situation BTC is in now with the high transaction fees. Who cares? Honestly, who cares if BTC is the one that wins? I only care about some cryptocurrency seeing mass adoption, I don't care if that's BTC or any of the other thousand coins.

>Who cares? Honestly, who cares if BTC is the one that wins?

Well, everyone who is long on BTC.

Re: Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

#310

Post by AlexCoventry »

MadSudaca wrote: post #219

There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…

xrb_3ac6d84z89sd7ndxaeu397tb7iyr67jg7pbhqdish3ss76ekhznd9s9x3jco

Thanks!

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