Topic: A good example of elite manipulation of Bitcoin - page 2. (Read 520 times)
The stock exchange is also subject to manipulation, not by whales, but by the media, the world economy and governments.
Goldman & Sachs are at it again. They just love bashing anything that doesn't seem to fit into their economic model of "make the rich richer and the poor poorer".
What they say is just another good example of war against everything new and revolutionary, which is brought by blockchain and bitcoin in particular."these cryptocurrencies ... are not a store of value."
The main goal of cryprocurrencies is that they provide a kind of self-control of the whole system - nothing can be altered in blockchain.
In my opinion, this is the greatest value of crypto together with anonymyty and decentralization.
Quote
"Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been borne out much sooner than we expected," the team lead by chief investment officer Sharmin Mossavar-Rahamani said.
"We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value."
"We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value."
who can deny this? they are very correct if you really think about it. there are nearly 2000 altcoins and tokens in the market these days and these two statements are 100% correct about 99.99% of them. if you think otherwise then show us cases where these shitcoins are being used as a tradition sense of a "currency"! none of them have any use case apart from some old ones such as Litecoin but even that is not even big enough to be considered enough number of use cases.
the only thing that remains is bitcoin and when they talk about "cryptocurrencies" in general they are rarely talking about bitcoin. and we already know that bitcoin has the "actual use case as a currency" and you can find thousands of examples by doing a quick search on the internet.
Lucky for us, we do not care what our competition think about our technology. You cannot expect Goldman & Sachs to come
out in favour of their competition.. right? They will use all the dirty tricks in the book, to sabotage Bitcoin and that includes
sabotaging them around every corner. One of these are statements like this and even trying to copy cat the technology and
calling it their own.
It is hilarious to see, to what levels these desperate companies will stoop to retain their
control and dominance in the financial sector.
out in favour of their competition.. right? They will use all the dirty tricks in the book, to sabotage Bitcoin and that includes
sabotaging them around every corner. One of these are statements like this and even trying to copy cat the technology and
calling it their own.
It is hilarious to see, to what levels these desperate companies will stoop to retain their control and dominance in the financial sector.
It only has an effect on us if we let it do so. Goldman has demonstrated yet again that they clearly have no idea about crypto and are envious about those that do. They want to appear as an authority on the subject but they can only make shallow remarks that don't have any depth to them or validity if you look at the fundamentals.
I find it hard to understand why they think they have the answers. It sounds like they're actually afraid of the potential of crypto and have to make cheap shots in order to try and look good. Oh well...
There are people, even the famous ones who will not favour the crypto market, for the sole purpose that it will be the reason to reduce the rich poor gap of the countries. This will seize them of their power and they will make claims to plant fear among the people. Avoiding such news is the better and wiser option.
I used to get annoyed when reading articles like this as it’s so obvious the reasons they are doing it but now I just find it amusing. Looking forward to what they are all going to say in 5 years when it’s got a lot more adoption and they explain why they are heavily invested 😂
I think users of BTC should rise above arrogant elitist manipulation. Who knows maybe a new economic order is coming.
It is better to not pay heed to these news. They are just making the headlines for the sheer reason of seeding panic among us, because crypto has made a huge contribution in bridging the rich poor gap, which they simply detest.
"Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been borne out much sooner than we expected," the team lead by chief investment officer Sharmin Mossavar-Rahamani said.
"We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value."
https://www.zerohedge.com/news/2018-08-04/bitcoin-battered-back-below-7000-goldman-expects-further-declines
“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks. As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.”
Isnt this a similar line as that stated by the Dutch Central Bank? Which was reported
in this thread > https://bitcointalksearch.org/topic/m.43440013 Hielkema, the Division
Director Payments and Market Infrastructure at the Dutch Central Bank stated:
“If something wants to be treated as money, you have to be able to spend, save and calculate with it.”
Looks like they are trying to use the same ammunition. These statements by
people looking to damage Bitcoin will be ignored by us who see potential,
useability and value in Bitcoin. Their statements will only reach so far.
We had these attacks throughout 2017 but we are still here.
This is definitely not something to be concerned of. However, we cannot always stop everyone from panicking. These sort of news are why the market gets manipulated but we also need to know which news to believe in and the Starbucks news is related to their recent partnering up with ICE and Microsoft and I feel like this should be the news that the community should focus in.
This is an opinion contrary to the cryptos, not unique, but that increasingly contains less adepts. It is normal for banks to be against this financial revolution, but some are gradually realizing that it is better to paddle in favor of the tide than against. This GS guy will deeply regret this statement.
It’s a interesting thread. The users of bitcoin need to rise above arrogant manipulation. Its here to disrupt and also rise. A new order is ongoing also hear peoples brething.
Goldman Sachs is made up of what must be tens of thousands of people. No doubt someone else there will pop along with an opinion that overturns that soon enough.
By this stage of the game I really don't see why any old finance person bothers weighing in on the future of crypto when they had absolutely nothing to do with its creation or rise. They should put a sock in it and sit back and watch.
And if they're bright they'll have some provision in place if it goes where many of us expect it to. I'm sure there are many mind blowing projects and plans joints like this will unveil when the tide turns. They're not stupid.
By this stage of the game I really don't see why any old finance person bothers weighing in on the future of crypto when they had absolutely nothing to do with its creation or rise. They should put a sock in it and sit back and watch.
And if they're bright they'll have some provision in place if it goes where many of us expect it to. I'm sure there are many mind blowing projects and plans joints like this will unveil when the tide turns. They're not stupid.
I think those who are passionate about cryptocurrency, will ignore these statements. They just spread negativity which is unacceptable.
Goldman and Sachs are not understanding or more appropriate to say they denying the fact that crypto market have a great potentiality in future. Many like them are saying that crypto currency doesn’t have the features that an accurate currency should have.
It is impossible to understand what this company is. One explanation goes against the other. Is there no manager at the head of this company?
Elite manipulation is something there has been from the very beginning and currently we cannot do anything about it since majority of the community is dancing to their tune. However, news like ICE partnering up with Microsoft and Starbucks is something that the crypto scene should be excited about.
It is definitely and obviously that those are manipulating the prices but we as employee here need to just try to adapt to that, otherwise the other option would be to become a whale. Which is not so easy btw 
Something like this already happen many times, but people who need/want decentralization, anonymity pseudonymity, immutability, uncensorable or simply fiat alternative surely will keep using Bitcoin.
Looks like trader/investor still easily manipulated with FUD/negative news.
It sure is off with the big news of ICE trying to bring a new solid steady Bitcoin third party with Microsoft and Starbucks backing it a simple GS sentence is enough to drop the price 6%.Looks like trader/investor still easily manipulated with FUD/negative news.
that is hardly the reason in my opinion because this news came out late and price was already on a small downtrend before it. not to mention that it really ins't such a big bad news targeting bitcoin. it is focusing on "cryptocurrency" in general which mostly includes altcoins which i even partly agree with since they are really useless!
Interesting thread. Bitcoin users need to rise above arrogant elitist manipulation. Bitcoin is here to disrupt, change, and rise. A new economic order is on her way, in these forums I hear her breathing.
Jump to: