From thinking about Bitcoin to being open to it, Lloyb Blankfein seems to be coming around.
Last month Blankfein made headlines when he tweeted that he was "thinking about bitcoin".
It was fairly cryptic but was a welcome response at a time when other investment bankers were outright condemning bitcoin/cryptocurrencies.
(I'm looking at you Jamie Dimon)
More on that tweet by Blankfein can be read here:
https://steemit.com/bitcoin/@jrcornel/lloyd-blankfein-still-has-bitcoin-on-his-mind
Now, it looks like Blankfein is coming around even more.
In an interview with Bloomberg, Blankfein was quoted as saying:
“I have a level discomfort with [bitcoin], as I have a level of discomfort with anything that’s new. But I’ve learned over the years that there’s a lot of things that work out pretty well that I don’t love.”
Not exactly a ringing endorsement just yet, but much softer words than that of Jamie Dimon calling it a fraud and something that his traders would be fired for trading.
In fact it looks like Blankfein may be looking to hire some bitcoin traders in the near future as opposed to firing them as Goldman is very strongly considering offering bitcoin related products to their customers in the near future.
Blankfein is not going to let his personal reservations get in the way of potentially disruptive technology, and probably more importantly, profits for his firm.
The future of money?
That is far from decided, but Blankfein was unwilling to bet against it.
He even offered these thoughts:
"Maybe in the new world, something gets back by consensus. Instead of a government fiat, maybe it’s a consensual arrangement by people that agree that it’s worth something."
Now that would be interesting...
Not comfortable but not willing to go against it?
Blankfein said he wasn't completely comfortable with it yet, but he knows it's not smart to stand in the way of disruptive technology.
He also said that he could see how we could get to the point where something like bitcoin eventually takes over.
He expanded on those thoughts a bit in the interview, saying:
“If we went into the future and bitcoins were successful, I would be able to explain how it was a natural evolution from hard money."
So, basically he is saying that it makes sense to him.
“Maybe 200 years from now even someone like me might be comfortable with it, but right now, I tell you: I don’t have an investment in it, but I’m not willing to pooh-pooh it and that’s why I say I’m open to it."
There you have it.
One of the most powerful CEO's on Wall Street is open to bitcoin, though admittedly he's not its biggest cheerleader.
That is great news for bitcoin bulls and crypto enthusiasts alike. I would not be surprised to see Goldman offering some form of bitcoin derivatives or bitcoin trading product at some point in 2018.
In fact that is one of the bigger bitcoin rumors circulating around Wall Street right now.
Stay informed my friends.
Sources:
https://www.cryptocoinsnews.com/im-open-to-bitcoin-goldman-sachs-ceo-lloyd-blankfein/
Image Sources:
https://news.bitcoin.com/goldman-sachs-ceo-lloyd-blankfein-latest-exec-flirt-bitcoin/
http://kingsreview.co.uk/articles/bitcoins-utopianism-and-the-future-of-money/
Follow me: @jrcornel
Pff. This guy with a new bitcoin statement every day lol. Bitcoin is here to stay, and they (banking guys) have known this to be true for quite some time now.
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Have to admit I really like what he had to say. Much better than Jamie D
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Me too, I have more respect to Lloyb Blankfein than Jamie D.
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Way better than Jamie D, who just took the opportunity to create more FUD at the time when the market was shaky already only to buy up some coins with his company.
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Never trust a bankster! I'd rather he come out against it.
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one banksters said is good, and another said is bad. But... the bitcoin was created by MIT and banksters, especially Rothschild.
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So... the family who owns the central banks wants us to ditch their monopoly product to use a decentralized free-market cryptocurrency? Right...
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no, they have supercomputers that put probability that fractionary reserve continue, and say no, then find another way to mantain their power using encryptation. use a plan a dont work, use plan b, dont work use a plan c. Bitcoin is plan b. Many people know that the money is created from nothing by banksters.
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Dude, encryption is just math used to prove something happened, and it puts power in the individual's hands.. the opposite of what a power-hungry banker wants.. The cryptowars were waged to put cryptography in the hands of the people. Bitcoin sucks but that is just absolutely nonsensical.
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power in individuals hands? http://www.zerohedge.com/news/2017-09-19/cryptocurrency-concentration-just-4-own-over-95-bitcoin?page=1
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I know all about that - it's heavily manipulated. That being said, encryption is not the problem, nor is crypto. The problem is mining, fiat crypto, and overhyping of this old Bitcoin technology. Cryptocurrency is a banker's worst nightmare - especially now that we have anonymous transactions on Bitshares.
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i think that blockchain was created by banksters, but they dont think that appear so many coins, now are 400 or more coins, that dilute the control over the market, but... maybe the game is only recognize less than 10 coins , and that is doing by countries and presidents.
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I see what you're saying, we do live in a winner-takes all market, and there are a load of crappy ICO's rn. I think they want a shitcoin to win so when it crashes they can label cryptocurrency dangerous. That way they can justify massive government regulation and the rollout of a Fed-coin or UN Phoenix-coin.
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zzzzz.....Conspiracy detected!
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same conspiracy theories that do that Bill Clinton say sorry about experiments in open population by CDC.
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He has no choice... it's a part of history now.
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Hey ,
Thanks for the great content
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If he is fine with Bitcoin, it s a trap 😉
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I think you are right that Goldman Sachs will try to capitalize and offer new products and I think the primary reason is there is money to be made on new fees inside the products. I think Llyod is covering his but on his bitcoin remarks and really doesn't understand what is going on... could be wrong tho!
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He said it's mostly based on customer demand. If their customers want it bad enough, they will provide it for them. :)
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But if customer not demand it what will be happen then let me know @jrcornel
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I have to admit this is good news for bitcoin overall, but there's a part of me that would rather not have these banker types coming into the mix. Long term, we're gonna get fooked somehow.
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Yep This Man is Old School :D
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Finally one of these guys is getting on board. Upped and Foll
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img credz: pixabay.com
Nice, you got a 9.0% @minnowbooster upgoat, thanks to @jrcornel
Want a boost? Minnowbooster's got your back!
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The @OriginalWorks bot has determined this post by @jrcornel to be original material and upvoted(1.5%) it!
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He's no dummy when BTC is at $7000 he's not going to bash it when there's money to be made. Just like the mortgage backed securities (a more risky trade than BTC) that the firm was buying for their clients while they shorted the market for themselves. The profit motive is all that matters for him.
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100%
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Better believe it. Oh they definitely do invest in bitcoins as well as ethereum, and several others.. Russia, China, and Brits and others are in on it as well. A few billionaires are in on it.
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..... and who paid to those "mortgage gambling" mistakes?......
boom: taxpayers! = Government saved "to big to fail" boys.....
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This could be a key step in cryptocurrencies going mainstream. Investors generally look to big investment firms for direction on what sort of investments to proceed on. With Blankfein showing a general interest, hopefully there will be more mainstream interest in the whole space. Can't wait to see how this turns out!
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Those who are and who were against bitcoin will need to adjust their sails to new wind. Slowly but surely.
"The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails."
— William Arthur Ward, Writer
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Look how he smiles, he is smelling money ;D.
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lol, crypto is full of potential
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bitcoin is one of the greatest part of money
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Well this is type of battle, Some top ceo are supporting and some are against it...let us see ho wins it
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well that's one honest banker atleast (the rest are probably hiding under a blanket and buying bitcoins while shouting out against it in the open).. :)
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He is actually more interested in the monetary benefit of the Crypto currency. AS you said, we can soon except a crypto currency product from them.
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If you can't beat them; join them!
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They only bash it until it can provide more profit than the given model, then they turn around, eat their own tail and proclaim it the best thing to come along in ages.
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This is a healthy attitude to deal with anything new.
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I thought this was pretty huge. Just to have a CEO of one of the biggest Wall Street institutions to not instantly dismiss Bitcoin and crypto currencies in general. He admitted he doesn't have a good understanding of the technology. And I'm sure he would admit he has a bias to the old and current system. He also acknowledged the term "consensus" and it's not such a crazy idea to maybe one day have a coin or money who's value is decided by the people who transact in it, not by a government that says "This is worth $1 because we said so."
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Its just about that time. when all the haters will take back there words and say. Bitcoin is a great concept.
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Finally few guys coming to support !!!
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They only bash it until it can provide more profit than the given model, then they turn around, eat their own tail and proclaim it the best thing to come along in ages.
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Commerce is evolving. A few years from now, digital currencies will play a central role in our lives, replacing coins, cash, cards and cheques. They will enable us to transact more easily, more cost-effectively and with greater security than ever before.
So Lloyd Blankfein understands that, and start approaching to that direction.
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With Gorman stating late last month that he thinks bitcoin is "more than a fad.
upvoted
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I simply love your articles, what great content and quality of posting you offer the community here on Steemit and abroad.
Thanks a lot :)
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What makes a currency work is faith of people using it, and now is the time for decentralised currencies great post 👌👍
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One of my cousins who works for an investment firm messaged me and told me Jamie D said bitcoin was a scam and that bitcoin was done. I told him i bought the dip when everything was dropping and told him it would go right back up. A few weeks later i texted him saying " I thought you said bitcoin was dead"? He ended up leaving me on read and not replying back LOL
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Definitely a good news. BTC is getting strong day by day and soon corporations will accept it as a part of regular functioning.
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If blankfein is looking into bitcoin, it's a good news..
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Good to hear he is open minded not like Jamie Dimon
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Really
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I'm sure that the banksters own some Bitcoin just like the steemster even if they will never admit it. If Bitcoin could potentially hurt their existing business they probably already looked into banning it but found it almost impossible to do. Decentralization!!
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i woudlnt listen to bankers at all
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Hint Hint ... yup I really think he beyond open to it. Blockchain is a done deal. Blockchain HE IS ALL Iw. Now is his Wallet "Open To It"? RESTEEMED UPVOTED and FOLLOWED.
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That's good news. Nice
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Until Amazon will start to accept bitcoin as a form of payment, I believe many will get on board.
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OF course he would not be totally against it. If anyone understands how fiat currencies, he would. His predecessors came up with the idea, for pulling the world off the gold standard in order to control the wealth of the world via the Federal Reserve Note in their New World Order for greed of power and wealth.
Digress: Now with Coin Base on the market, you know they're still controllers via the globalist banking system and in collusion with the US Government's regulation via the internal revenue service. In the meanwhile Coin Base is still another option, but only use it for investing, buys and trades, but not for something such as online gaming of any sort unless you want to risk your assets with them getting frozen...and keep good records for tax purposes.
Anyhow, the guy knows this is technology to stay, and he knows wealth to be made. I would not be surprised that those globalists had come up with the idea of cryptocurrency, because they know that physical fiat monies are failing, and their own greed has cause great debts worldwide that not even the USA, UK, nor Europe will ever recover from. I would not be surprised if they instigated it to make like it was all Satoshi's idea, or whatever his name is just to get this thing going and to distract the world from them, the man behind the curtain. Even the Bible details about a cashless society, and this is the precursor to it be fore the anti-Christ ever takes over.
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hi you guy can check my article
https://steemit.com/bitcoin/@pichreachsey/bitcoin-the-rage-at-us-universities#comments
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hi you guy can check my article
https://steemit.com/bitcoin/@pichreachsey/bitcoin-the-rage-at-us-universities#comments
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surprise surprise! LOL
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I reckon a lot of back tracking from certain people in the future
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its growing up and up.. can anyone predict it will go further up or will come down
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The face of money 👽
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I'm late at the party as always:) now that there are people from Wall Street that state they are open to Bitcoin, its price decreases. Just as when Jamie has blamed Bitcoin and its price increased, I start to see a pattern here!
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Congratulations @jrcornel!
Your post was mentioned in the hit parade in the following category:
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