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> Unfortunately Bloomberg as a whole doesn't know anything about cryptocurrency beyond the speculation side which is similar to their existing competencies. But

> Unfortunately Bloomberg as a whole doesn't know anything about cryptocurrency beyond the speculation side which is similar to their existing competencies. But that's all they see. They don't know anything? Even though they partnered with Mike Novogratz to create an index? https://www.bloomberg.com/professional/product/indices/bloomberg-galaxy-crypto-index/ https://www.bloomberg.com/professional/product/indices/bloom...

superkuh 8y ago
I never said they don't know anything about finance or speculation markets. But if you (and they) think that's all cryptocurrency is then you're missing 90% of what's up. Bloomberg keeps trying to predict crypto's behavior based entirely on the most traditional looking speculation markets. Speculation markets aren't really a part of cryptocurency at all (they aren't on the blockchain(s)) but they are the only part of the concept that traditional finance people can (or will try to) understand.
- atomical 8y ago
  I'm sure Bloomberg has a huge archive of speculative articles on stocks. Why are blockchain advocates so emotional? They should understand these articles because speculation is a core feature of the ICO boom and cryptocurrency in general.
  - JAlexoid 8y ago
    Sounds like "no true Scottsman" fallacy. No one really cares about bitcoin and etherium, after their wild value swings. Let alone - it's way too complicated for any layperson to grasp. Money is easy... but think about the distrust that many elderly people have with simple debit cards! Cryptocurrency will definitely be our nerdy wet dream
ramblerouser 8y ago
I agree Bloomberg knows a lot about it, but the financial industry as a whole would rather Bitcoin die because its a threat to their banking monopoly. Go read the Satoshi whitepaper. The recent buy-in from bloomberg and Goldman et al is just a "cant beat 'em, join 'em" strategy.
- atomical 8y ago
  You are saying that they are only in it for the money, but they also want it to fail spectacularly. It doesn't make sense and works against their interest.
  - ramblerouser 8y ago
    Why doesnt that make sense? They would rather it fail because it threatens their core business, but as long as it looks like it wont, they will invest in it.

superkuh 8y ago

I never said they don't know anything about finance or speculation markets. But if you (and they) think that's all cryptocurrency is then you're missing 90% of what's up. Bloomberg keeps trying to predict crypto's behavior based entirely on the most traditional looking speculation markets. Speculation markets aren't really a part of cryptocurency at all (they aren't on the blockchain(s)) but they are the only part of the concept that traditional finance people can (or will try to) understand.

atomical 8y ago
I'm sure Bloomberg has a huge archive of speculative articles on stocks. Why are blockchain advocates so emotional? They should understand these articles because speculation is a core feature of the ICO boom and cryptocurrency in general.
- JAlexoid 8y ago
  Sounds like "no true Scottsman" fallacy. No one really cares about bitcoin and etherium, after their wild value swings. Let alone - it's way too complicated for any layperson to grasp. Money is easy... but think about the distrust that many elderly people have with simple debit cards! Cryptocurrency will definitely be our nerdy wet dream

ramblerouser 8y ago

I agree Bloomberg knows a lot about it, but the financial industry as a whole would rather Bitcoin die because its a threat to their banking monopoly. Go read the Satoshi whitepaper. The recent buy-in from bloomberg and Goldman et al is just a "cant beat 'em, join 'em" strategy.

atomical 8y ago
You are saying that they are only in it for the money, but they also want it to fail spectacularly. It doesn't make sense and works against their interest.
- ramblerouser 8y ago
  Why doesnt that make sense? They would rather it fail because it threatens their core business, but as long as it looks like it wont, they will invest in it.