[2017-10-02] Goldman Shuns JPMorgan's Dimon - Plans Bitcoin Trading Operation

Carlton Banks

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Quote from: DooMAD on October 03, 2017, 01:35:12 AM

The thing I don't get is, if ETFs are struggling and subsequently failing to gain regulatory approval, and those things don't even trade real, spendable Bitcoins, how would known criminals like Goldman Sachs get the okay from the bureaucrats at the red tape factory to trade real, spendable Bitcoins? It seems just a little bit nonsensical.

The Goldman Sachs firm are only criminals in the sense that they've never been prosecuted for acts that, perpetrated by just about anyone else, would be prosecuted, convicted crimes.

So you're not really seeing this for what it is: organised crime, and Goldman Sachs are the capo di capo of those in the too big to jail category. The US SEC financial regulators are the same organisation that failed to adequately punish banks like JP Morgan and Goldman Sachs, and that let the employees of those banks escape individual culpability entirely. If anyone can start Bitcoin trading on Wall Street, it's those with political connections. And so that means not the Winklevoss Twins launching an ETF.

kskaclord

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jp morgan clearly showed how unreliable he was. The statements you made after the news in china are very inconsistent with the moves you made right now. Crypto currency enthusiasts will now do the exact opposite of what jp morgan says.

bubblebit

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After what, Jaime Dimon CEO JpMorgan has said and done. Is it right to talk about him this days because even hearing or reading his name on every topic makes me sick. He is the head of that institution, he has the right on what policy he will implement but do you think most of his employees will follow. NOPE. Do they have the capacity to know and investigate each one, NO again. So let his illusions eat his pride and ego into pieces.

DooMAD

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Leave no FUD unchallenged

I don't see this as particularly noteworthy as Goldman Sachs are merely clutching at straws. They know that if they can't serve these investors who have expressed an interest in Bitcoin, the investors will find another way to buy Bitcoin and Goldman Sachs won't get a cut. That's all it is. Dinosaur Middlemen being Dinosaur Middlemen. Obviously they're going to say they'll look into it. But I'm pretty sure that's about as far as they're going to get. Looking. At their potential customers going elsewhere, most likely. They'll probably hit some regulatory wall or another, then accept the fact they're not equipped to get involved with the real thing and they'll go back to playing with their silly derivatives and monopoly money.

The thing I don't get is, if ETFs are struggling and subsequently failing to gain regulatory approval, and those things don't even trade real, spendable Bitcoins, how would known criminals like Goldman Sachs get the okay from the bureaucrats at the red tape factory to trade real, spendable Bitcoins? It seems just a little bit nonsensical.

error08

hero member

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JPMorgan CEO Jamie Dimon isn't a trusted person because what he said about bitcoin worth nothing but they buy in the dip at the last crash in September due to China bad news. Even Goldman Sachs ever prdicted bitcoin can't rise up more than $4800, but they just lucky about the crash.
Whether they are involved or not, bitcoin value will constantly increase, but the most annoying thing is FUDs that comes out from their statement.

aso118

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★Nitrogensports.eu★

Quote from: Coin-Keeper on October 02, 2017, 03:45:00 PM

Its tough to imagine how this CEO feels he has the right to fire an employee that trades in BTC while on their own personal time. I am encouraged by how robustly the Japanese scenario is going. China will end up with regrets as well. In the long run we need all the big countries in the BTC mining game, and to be supportive of the operators (within their borders) willing to launch enterprises.

It all boils down to the contract you sign when you take up the job. The Wall Street firms typically make sure that they own every piece of you. And if they say that you can't buy bitcoins, then you can't.

1Referee

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This could actually be a major step forward when it comes to deep pockets entering the Bitcoin world. Traditional minded investors add value to anything being offered, or at least 'supported' by their banks, and this could be the trigger leading to more capital flowing into the Bitcoin ecosystem. If Goldman Sachs ends up launching its own trading platform for crypto currencies in whatever form or shape, this should give people enough reason to ditch the current incompetent exchanges eventually. I have always said it, and I will say it again -> this market will change significantly when institutions hop on board, and this is definitely a decent step in the right direction. Goldman Sachs is a big deal in the financial world.

Coin-Keeper

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Its tough to imagine how this CEO feels he has the right to fire an employee that trades in BTC while on their own personal time. I am encouraged by how robustly the Japanese scenario is going. China will end up with regrets as well. In the long run we need all the big countries in the BTC mining game, and to be supportive of the operators (within their borders) willing to launch enterprises.

pixie85

hero member

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Good for them. Japan decided to embrace Bitcoin, while China decided to ban it. We can see now how it has turned out. A lot of traders moved from China to Japan and Japanese exchanges have increased their trading after the bans in China. Same thing will happen to Jamie's bank. When they'll see that Goldman is making money on Bitcoin they'll fire Jamie and join in. Policies aren't important for banks, the money is.

BenOnceAgain

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🌐 www.btric.org 🌐

Excerpt:

Quote

While JPMorgan CEO Jamie Dimon said he "would fire" any employee found trading Bitcoin, Goldman Sachs' leadership is embracing reality as WSJ reports the bank is weighing a new trading operation dedicated to bitcoin and other digital currencies.

Source:
http://www.zerohedge.com/news/2017-10-02/goldman-shuns-jpmorgans-dimon-plans-bitcoin-trading-operation

Referenced article (WSJ paywall, unfortunately):
https://www.wsj.com/articles/goldman-sachs-explores-a-new-world-trading-bitcoin-1506959128

Topic: [2017-10-02] Goldman Shuns JPMorgan's Dimon - Plans Bitcoin Trading Operation (Read 2525 times)