[2015-05-03] TheMotleyFool: You'll Never Guess Who's Investing in Bitcoin

whenwhatwherewhyhow

newbie

Activity: 45

Merit: 0

Quote

Some people say Banks invest into Bitcoin startups to fight their enemies from the inside. They find out what's all about with the Blockchain etc and then they come up with their own technology and Bitcoin will go down. Wink

I don't think that is anything to wink or smile about, but I agree with you. It feels like the oil industry buying the electric trolley's so they can kill them.

Lethn

legendary

Activity: 1540

Merit: 1000

While it's definitely no long term project, Goldman Sachs gets money directly from the federal reserve, so short term it might be fun to ride the hyperinflation wave and trade up your coins, it'd be risky though.

Kprawn

legendary

Activity: 1904

Merit: 1074

They going to create something with NO anonymity and full centralized control. {Who wants to bet on that?}

It will not be a public ledger. {It cannot be, with NO anonymity} and the hardware/software to run and maintain this will be hosted by IBM. {Data Centres}

The core principle would be built around, Ripple. Sad

Chef Ramsay

legendary

Activity: 1568

Merit: 1001

They want more profits and they know what's about to be going on in this league. Better and cheaper to play with us than to shut it down (if they could) and start from scratch.

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote

Some people say Banks invest into Bitcoin startups to fight their enemies from the inside. They find out what's all about with the Blockchain etc and then they come up with their own technology and Bitcoin will go down. Wink

They don't need to invest in start-ups to learn about blockchain. And, in fact, IBM is allegedly working on some blockchain-like technology that is supposed to change the financial system:

http://www.reuters.com/article/2015/03/12/us-bitcoin-ibm-idUSKBN0M82KB20150312

unamis76

legendary

Activity: 1512

Merit: 1012

No wonder these guys want in. They're not the first banking institution/stock related company to approach Bitcoin, in one way or another.

As I've said before on other threads, I think this is proof they see Bitcoin as something dangerous for them. And it's like they say, if you can't beat them...

pawel7777

legendary

Activity: 2436

Merit: 1561

You'll Never Guess Who's Investing in Bitcoin

http://www.fool.com/investing/general/2015/05/03/youll-never-guess-who-is-investing-in-bitcoin.aspx

Quote

Goldman Sachs recently announced that it was partnering with a Chinese investment firm to lead a $50 million investment into Bitcoin start-up Circle Internet Financial. This deal represents the first large investment of its kind by a major bank, and it definitely could make a big difference in the Bitcoin space as well as the way we transfer money in our everyday lives. So what does Circle Internet Financial do, and why is it the first Bitcoin company to attract an investment from a major bank?
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