Bitcoin: Mother of All Bubbles, Don't Bet Against Goldman Sachs

2018年1月23日

Well, this is just another reality check. Fundamentals not technicals. The whole space is a trader's dream, no regulation, easy manipulation. Well, the world's largest are getting into the game and they are calling bitcoin out and everyone should take notice. Goldman Sachs is someone that can make it happen. There is too much money flow into crypto from the real markets and that is worrisome for funds and former investment banks. Either way, GS is not a bunch of dummies or hypsters, they know the game and are calling bitcoin out. To be fair, they're calling them all out. The following is only one article of many being written now and that means something. The tide is shifting to big money calling this a bubble, which isn't good.

marketwatch.com/story/the-bitcoin-bubble-now-dwarfs-tulips-and-dot-com-stocks-goldman-warns-2018-01-22

Goldman issues a warning on bitcoin—and an even bigger warning on Ethereum

“We think the concept of a digital currency that leverages the blockchain technology is viable given the benefits it could provide: ease of execution globally, lower transaction costs, reduction of correction since all transactions could be traced, safety of ownership, and so on,” Goldman wrote. “But bitcoin does not provide any of these qualities.”

Goldman has weighed how effective bitcoin is for the various purposes that its advocates argue it can serve. Ultimately, it concluded that bitcoin is too volatile to function as a store of value, and too inefficient to replace traditional currencies as a means of transferring value.

I wouldn't take this lightly, GS is creating their own trading desk for this space and they will be taking their massive leverage and AI based trading systems to crush this space. I'm hoping SwissBorg can accelerate as the true wealth management fund in this space, before anyone else can. After the bubble bursts, the real players will emerge, just like previous bubbles.

2018年1月23日

註釋

I should have elaborated that I would keep money off the table, to wait for the big short to enter. Bitcoin's not going away, but the dream of 100K to 1M is ludicrous. The handful of elite bitcoin holders want the herd to drive bitcoin to 1M so they can become the world's richest for doing nothing, but manipulating ;)

2018年1月23日

註釋

Now Stripe is dropping Bitcoin:

coindesk.com/stripe-to-end-support-for-bitcoin-transactions/

Payment Processor Stripe to End Support for Bitcoin Transactions

Payment processor Stripe announced Tuesday that it will end support for bitcoin as a payment method in April.

Product manager Tom Karlo wrote in a blog post that Stripe would transition away from bitcoin over the next three months, fully ending support for the largest cryptocurrency on April 23, 2018.

Stripe first enabled bitcoin transactions in 2015, a move that came a year after first testing the technology. At the time, residents from more than 60 different countries could pay merchants on Stripe's network using bitcoin.

However, lengthy transaction times, an increasing transaction failure rate, and growing fees mean bitcoin is becoming less popular among Stripe's merchants and users, Karlo wrote.

He continued:

"Because of this, we've seen the desire from our customers to accept Bitcoin decrease. And of the businesses that are accepting Bitcoin on Stripe, we’ve seen their revenues from Bitcoin decline substantially. Empirically, there are fewer and fewer use cases for which accepting or paying with Bitcoin makes sense."