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Goldman Sachs invests in bitcoin company
05-07-2015, 12:45 AM #1
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
Leading a US$50 million investment round, Goldman Sachs has shown that it finds Boston-based Circle Internet Financial, Inc.'s global vision promising.

http://cointelegraph.com/news/114130/cir...and-others
05-07-2015, 01:37 AM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,283 Threads:1,438 Joined:Feb 2011
“This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.”

It'll never happen here lol. Some hillbilly internet Stateside compared to Europe.

wonder.gif
05-07-2015, 02:18 AM #3
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
Hello JR!

There is some interesting stuff going on here.

You can be labelled as a terrorist by having like a beard or something, but replacing the dollar is cool - at least in Boston.
failboat Show this Post
05-07-2015, 03:36 PM #4
failboat Incognito Anonymous
 
(05-07-2015, 02:18 AM)CmdrDraco Wrote:  Hello JR!

There is some interesting stuff going on here.

You can be labelled as a terrorist by having like a beard or something, but replacing the dollar is cool - at least in Boston.

beards are full of poop anyway: http://nypost.com/2015/05/04/science-pro...al-matter/
05-07-2015, 03:53 PM #5
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
Hello Failboat :)

05-07-2015, 04:01 PM #6
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
The TBTF banks are heavily invested in a cashless society. I'm guessing for the main reason that when/if a massive collapse occurs (a la Lehman Bros on steroids) bank runs will be impossible. Works for the gov too, they can track every transaction and tax it.
05-07-2015, 05:20 PM #7
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
Hello Shadow!

Next Lehman Bros would pretty much be USA driving off the cliff with the default of $150 trillion in debt. Central Banks would be powerless in that scenario, so your money would just be vaporized. That most certainly would explain Goldman Sachs interest in virtual currencies as a store of value.

The main problem with any major nation is that they are not going to hyperinflate away their power because nobody has ever done that. A more likely scenario is that they will self-destruct by attacking their own citizens.
05-07-2015, 05:34 PM #8
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
I agree they won't hyperinflate away their currency until unsustainable debt makes it necessary and profitable, but not until an alternate currency is in place. SDR? Bitcoin? Certainly not the renminbi or the ruble. When it happens though, the sheepsies will welcome it out of desperation. go figure.

eta, Keeping in mind most US external debt is US$ denominated.
05-07-2015, 05:57 PM #9
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
If you have time to arrange an alternative not-debt-based currency :)

Rome or Germany were not able to pull off such an arrangement...
05-07-2015, 06:00 PM #10
Accidental Stoner Member
Posts:8,819 Threads:70 Joined:Feb 2011
(05-07-2015, 04:01 PM)Shadow Wrote:  The TBTF banks are heavily invested in a cashless society. I'm guessing for the main reason that when/if a massive collapse occurs (a la Lehman Bros on steroids) bank runs will be impossible. Works for the gov too, they can track every transaction and tax it.

yup.gif

Also will be muuuch more difficult to get off the grid.
And how the heck am I gonna pay the man for doobie.gif ...?

Among 100 other aspects.
Corruption will be absolutely monolithic and untouchable.
05-07-2015, 06:01 PM #11
Accidental Stoner Member
Posts:8,819 Threads:70 Joined:Feb 2011
And yeah, people will love it and line up for their chip.
"So convenient!"

sad2.gif
05-07-2015, 06:10 PM #12
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(05-07-2015, 05:57 PM)CmdrDraco Wrote:  If you have time to arrange an alternative not-debt-based currency :)

Rome or Germany were not capable to pull off such an arrangemet...

All fiat fails unless backed by tangibles. The good news is, an underground economy will emerge if it hasn't already. Where all transactions are barter not gov or central bank issued debt.
05-07-2015, 06:25 PM #13
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
Yeah, the underground economy kinda has emerged already - but it's measured in billions and it would need to be scaled up to trillions.

There's about 500 different cryptocurrencies floating around on the internet at the moment, here is a list:

http://www.coinmarketcap.com
05-07-2015, 06:33 PM #14
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
(05-07-2015, 06:00 PM)Accidental Stoner Wrote:  Also will be muuuch more difficult to get off the grid.
And how the heck am I gonna pay the man for doobie.gif ...?

War on Cash is quite real around here...
Between 2010-2013 doobie.gif was the only thing you could buy with bitcoin though :)
Now 2015 you can get food from 3 different K-markets in this country,

And we have in Jyväskylä the only off-the-grid bitcoin-company in the world, these will definetly buy you some doobie.gif

http://denarium.com
05-07-2015, 06:34 PM #15
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
There's a new kleptocurrency coming, and it's backed by gold

If you don't hold it, you don't own it.



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