Topic: [2017-10-04] ‘Try Ethereum!’ Crypto Tells Goldman Sachs CEO ‘Thinking’ On Bitcoi (Read 2232 times)

I don't know if they are really into crypto's. Goldman Sach's CEO decision is still in limbo. Ethereum doesn't have the fan based as bitcoin is. So if they are going into trading Ethereum, I think it will not be a complete success as most of their client want's them to have a trading operations for bitcoin. But its a good headstart because they will know how cryptocurrency trading works as opposed to stock trading. Yes Ethereum has more 'exponentially more useful than bitcoin', but that's not what investors wants. They want bitcoin because there are in for one thing only, to profit. They don't care if its useful or not, as long as they see that their investment is growing, they will go for it. And that was bitcoin can offer to them. Its too early to tell though as the CEO of Goldman Sach is weighing his options here. Let us see what direction the company goes.

Goldman Sachs CEO Lloyd Blankfein has said he’s “still thinking” about Bitcoin as the cryptocurrency community suggests he “understands” Ethereum.

In a rare tweet Tuesday, Blankfein said that when fiat currency displaced gold, consumers were “skeptical,” hinting Bitcoin may be in a similar position in 2017.

“No conclusion - not endorsing/rejecting,” he wrote about the number one virtual currency.

“Know that folks also were skeptical when paper money displaced gold.”

His tone marks a stark contrast to that taken by similar industry figures, notably JPMorgan CEO Jamie Dimon, who last month described Bitcoin as a “fraud.”

Responding to what was clearly perceived as a positive stance on Bitcoin despite Blankfein’s disclaimer, ConsenSys engineer Andrew Keys wasted no time in advising him on the need to “understand” Ethereum.

“[...] You need to understand [Ethereum]. It’s exponentially more useful than bitcoin,” he wrote.

What will result from Blankfein’s “thinking” meanwhile is pure speculation.

Goldman nonetheless announced this week it was mulling the idea of allowing investors direct trading opportunities for Bitcoin. This caps a string of more encouraging activities related to cryptocurrency in general, the financial giant clearly keen to keep tabs on the potential of the explosive market.

The trading hint comes as Goldman’s traditional fiat desk reported a massive 40% drop in bond trading revenue for Q2 this year.

https://cointelegraph.com/news/try-ethereum-crypto-tells-goldman-sachs-ceo-thinking-on-bitcoin