Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk

Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by MadSudaca on Thursday December 21, 2017 @09:19PM (#15984771)

The total market cap of all cryptocurrencies is .6 trillion USD. There's dozens of coins with teams and communities trying to make them succeed and provide value. There's a lot of work and creativity involved in providing new technological solutions to overcome the limitations of older cryptocurrencies. I think you should give the cryptoscene another chance and do some research on what's going on. Saying that all this work, money and effort is something that will only benefits scammers is a bit unfair.

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by rifung on Friday December 22, 2017 @03:26AM (#15986036)

First of all I didn't mean to put down anyone's work. I am sure the technology is fascinating. Someone asked about the reason for negativity and I gave them my reasons.

> I think you should give the cryptoscene another chance and do some research on what's going on. Saying that all this work, money and effort is something that will only benefits scammers is a bit unfair.

I suppose the issue is that I don't really see anything wrong with our existing currencies but there are hurdles and issues to using cryptocurrencies (I can't actually use it to buy many things and its value fluctuates too much for my stomach to handle).

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by Anderkent on Thursday December 21, 2017 @10:47PM (#15985134)

Market cap is irrelevant when significant percentage of the coins aren't being exchanged or used for anything, and are just sitting in cold wallets.

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by spookthesunset on Thursday December 21, 2017 @09:41PM (#15984847)

> Saying that all this work, money and effort is something that will only benefits scammers is a bit unfair

It's entirely fair. Bitcoin is a solution in search of a problem. The only "solution" it's solved so far is lining the pockets of the folks at the top of its pyramid. Bitcoin has been around for, what, 9 years now? If it was going to see mainstream adoption, it would have happened a long time ago.

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by tlrobinson on Thursday December 21, 2017 @10:15PM (#15985002)

9 years is a very short time for a foundational technology to go mainstream. The internet took ~25 years.

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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk by bennytjia on Thursday December 21, 2017 @10:51PM (#15985146)

Which is a good thing. A "foundational technology" is foundational because it lets the new one builds on top of it faster. It reduces marginal time for new ones to become mainstream.

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