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> Yet every day there are stories (such as this article) showing crypto becoming more deeply ingrained in mainstream circles. For all intents and purposes, thi

by anonu 9y ago

> Yet every day there are stories (such as this article) showing crypto becoming more deeply ingrained in mainstream circles. For all intents and purposes, this is fake news. The value in GS opening a bitcoin trading operation is mostly in them publicizing and having people write articles about it. It looks like they're on the avant-garde of new technology and prospective hires - especially the engineers and techies - pay attention. Are they actually opening a trading operation? Probably. But as the article points out - its far less glamorous than it sounds - some new dude is sitting on the FX desk waiting for compliance and regulatory approval. And the truth is - many hedge funds have been trading crypto for years now - and I'm pretty sure other bigger broker dealers have gotten into the game already as well.

ThomPete 9y ago
You go to any trading floor today and compare it with 20 years ago youll find no one there. Does that mean trading stocks is overhyped?
- abritinthebay 9y ago
  Yes. Yes it is. Which is why so many people think it’s a magical get rich quick thing.
  - ThomPete 9y ago
    Yes what is? The stock market is better than ever it's alive and well.
    - abritinthebay 9y ago
      It is over-hyped. Has been for decades. Is it also alive and well? Yes. They aren't mutually exclusive.
      - ThomPete 9y ago
        Not sure I understand your definition of overhyped then. What's the correct non-hyped version of the stock market?
Nursie 9y ago
> For all intents and purposes, this is fake news. Not sure about fake, but it certainly seems to have the usual layer of hype and obfuscation. It looks like they're opening a futures-trading platform, with potential plans to go into actual cryptocurrency trading later, if they can get the licenses, risk and logistics figured out.
tim333 9y ago
>The value in GS opening a bitcoin trading operation is mostly in them publicizing and having people write articles about it I think it's more about providing their customers with what they want. Or “It resonates with us when a client says, ‘I want to hold Bitcoin or Bitcoin futures ...” as the article says. You've got to remember Wall St mostly makes money charging fees on the public investing and much of the public buys what's gone/is going up. Even if that's overpriced dotcoms in 99 or dubious bitcoins now they are happy to facilitate and take a percentage.

by anonu 9y ago

ThomPete 9y ago

You go to any trading floor today and compare it with 20 years ago youll find no one there. Does that mean trading stocks is overhyped?

abritinthebay 9y ago
Yes. Yes it is. Which is why so many people think it’s a magical get rich quick thing.
- ThomPete 9y ago
  Yes what is? The stock market is better than ever it's alive and well.
  - abritinthebay 9y ago
    It is over-hyped. Has been for decades. Is it also alive and well? Yes. They aren't mutually exclusive.
    - ThomPete 9y ago
      Not sure I understand your definition of overhyped then. What's the correct non-hyped version of the stock market?

Nursie 9y ago

> For all intents and purposes, this is fake news. Not sure about fake, but it certainly seems to have the usual layer of hype and obfuscation. It looks like they're opening a futures-trading platform, with potential plans to go into actual cryptocurrency trading later, if they can get the licenses, risk and logistics figured out.

tim333 9y ago

>The value in GS opening a bitcoin trading operation is mostly in them publicizing and having people write articles about it I think it's more about providing their customers with what they want. Or “It resonates with us when a client says, ‘I want to hold Bitcoin or Bitcoin futures ...” as the article says. You've got to remember Wall St mostly makes money charging fees on the public investing and much of the public buys what's gone/is going up. Even if that's overpriced dotcoms in 99 or dubious bitcoins now they are happy to facilitate and take a percentage.