Crypto Exchange Poloniex Acquired By Payments Startup Circle here.
That's already cool news but it becomes even more interesting when you consider that Goldman Sachs is a big investor in Circle.
This doesn't really match the bubble rhetoric we have been hearing from them for some time.
I'm wondering if this move will spark more banks to get interested to take a bigger stake into this space.
If that would happen then things can move fast.
It's an interesting development at least and I wonder how it will unfold in the upcoming months.
I talk (speculate) about it more in my vlog.
Starts @2:40.
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This will help expand crypto and everyone will want to become part of this cycle . The government will have no choice
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@exyle,
Seriously "$400 million" :O That's huge! Anyway I think this might be a good news for the entire crypto industry as well! Thanks for sharing this great update!
Cheers~
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I agree! They call it a bubble until they get invested, then they call it a revolution! Very true!!
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I always enjoy your vids...they've become part of my daily education!
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Thanks, man! That's cool of you to say.
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https://steemit.com/lifeinfiction/@tolababy/my-real-life-story-part-1.
Please I need your upvote. Please help me
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@exyle, I told you on your post last week that the banks and the government has no option, they either join us making money in the cryto-world or they loose it all and die of ignorance.
crytocurrency is the hope of future economy, the early birds will continue to enjoy and earn more.
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I think the same. Great comment.
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Mark @exyle even though I am not a fan of Goldman it is probably a good sign for Crypto that they are getting involved in Poloniex. I know now that would probably be the last Exchange I would consider using.............
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Who knows, maybe they will fix their STEEM wallet now :)
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Or kill it.
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Cool info and perspective. My G.K. is becoming stronger regarding crypto because of your vids. Cheer!!!
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around $400 million
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Yes, may be....
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Excellent video friend and it's great to hear that steem team working on scalability problem and ya scalability is one of major issues and once projects get control over it then it give an edge over the rest and i hope steem team will overcome this problem soon and it's also great to hear that Goldman Sachs is the biggest investor in circle and it means banks are also taking interest in cryptos indirectly and it is surely beneficial for the whole crypto space, thanks for sharing your knowledge with us friend and wish you all the best in all of your future endeavors! Stay blessed
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I think the acquisition of poloniex by goldsach is a welcome development to the crypto verse. Meaning more awareness and investors for crypto but i hope they didn't acquire for their personal gains i.e to seek a form of control or something but they were the same people that spread fud against crypto sometime ago
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Well..I am sure they did not do it from the goodness of their heart :)
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😊 i think you are right
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Oh yes, this is a great step towards the revival of the former trust in the Poloniex, as recently a lot of negativity was connected in this exchange. I very much hope that all the conceived actions that were outlined by the new owner will soon be seen and all the problems that have been arranged! Thank you Mark.
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Co-founders of Boston-based Circle, Jeremy Allaire and Sean Neville, said that they had completed “extensive due diligence” ahead of the agreement with Poloniex and intended to create a “multi-sided distributed marketplace that can host tokens which represent everything of value”
Circle has raised $140m in venture capital from investors including Goldman Sachs and IDG Capital Partners.
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I hope that Steemit will solve the scaling problem or else you are going to buy more and more servers.
With this news, I think that bankers will start to invest in cryptocurrency soon enough. Time will tell. A beautiful weather no doubt, exyle. Upvoted!
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The hope is that this acquiring of Poloniex would make the banking system more interested in this system
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I have been worried about the risk that poloniex would get hacked for some time. This would have created a meltdown in the markets. I have a bit more confidence now.
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Very interesting considering Circle dropped Bitcoin usage a while back...
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Am not at all surprised, the banks have started waking up to cryptos. Last year Jamie Dimon of JP Morgan said bitcoin was a bubble and caused the price to dip. JP morgan then went ahead to buy a shit load of it. Goldman Sachs has come to the same realization. As the stock market dips we should see more money flowing into the cryptos- this is just the beginning-more banks will follow :)
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Banks are notoriously corrupt. I will watch for price fixing and selective bias in preferential coins. Banks can control the price of Silver and Gold by buying and selling large quantities. A large exchange might do the same...
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This is one the great development where institutional investors are getting into cryptos. Few days back J P Morgan also came out with Dos & Donts in the cryptocurrency market for their investors. One of my friend also informed me that many of JPM clients were asking to trade in Cryptos but they didnt have the product or services to do so. So their clients were moving to banks/financials institution who provide themand they were losing their clients. Now you will see more and more banks coming out with these type of services.
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The specialists will find some solution to the scale problem, because if we are going to grow, then we will need a lot of space.
The cryptocurrency bubble is having more and more lovers, this time was Goldman Sachs changing opinion, but many will follow, because this is the future. Even Vladimir Putin said that the stone age didn't end because we run out of rocks. It ended because the technology forced it.
Obviously, a lot of projects will die, probably most of them, but the good and fundamented projects will succeed, and after that moment we start to get into the bubble, just like all the others. Sell High and you will be just fine, don´t be greedy, its the best advice!
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Thanks for this very interesting post!
When I hear the name G-S, I can't help but be reminded of the current US Treasury Secretary's background with this company.
The fact that this bank is getting involved, speaks loudly for the path of crypto. Every time I hear news such as this I am reminded that crypto is a bit like virtual reality...and more virtual decentralization (lol).
Once I moved past this thought, I remembered your thoughts on the following.
In the last 'bubble' when all were saying Power Up, Power Up, you were among the few who had a more reasonable approach. When the air started leaking out of the Steem value, and the exchanges closed the doors to new users, many lost, and would have been better served had they not put all of their eggs in the 'one' basket.
Sharing what works for you is very helpful for those new to trading. Thanks, again.
Peace.
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Great news that you could pay for your Servers with Steem. Hope these scaling challenges get sorted soon. I would be a bit ironic if the block chain failed due to inefficient technology.
Not sure how I feel about the banks getting involved. Doesn't that threaten decentralisation? T thought the whole thing was getting away from control of the banks.
Apart from legitmising crypto does crypto need banks? Can't really understand why this is a good thing. Is there not enough money coming in from investors?
Somehow I'm going to need to get myself an investing plan. I like the approach of looking at it for the long term but right now, other than Steem, I'm not sure where to start.
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I agree. Banks (or governments) don't come to crypto as retail players. They come to control. They can't control the blockchain, since it's decentralized, but they can control the hubs (exchanges). Unless the exchanges themselves are decentralized, and I know that's their future.
I used to do freelancing for a financial media company in New York. There were a few (about the same number as many fingers we have at one hand) huge international financial players which had their hands in pretty much every deal going on in the markets I was covering. GS was one of them. GS is in this for two things: control and profit.
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I suppose @exyle's comment "you can't keep them out if they want in" says it all. So are we hoping for decentralised exchanges then? Isn't that what Bittrex and Binance are? I've never traded so have no experience of them.
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No they are centralized exchanges. Practically all well-known exchanges are centralized, to my knowledge, but decentralized exchanges started to rise as well.
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So much to learn, Thanks for helping @gadrain! 😁
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You are welcome! And don't worry, we are all on a learning journey here. Glad I could help!
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Crypto does not need banks to work. But you can't keep them out if they want in. They can invest just like anyone else. I would just be weary to anything they say :)
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If Goldman Sachs is a big investor in Circle, then we can expect more volatility in the crypto market, now they have acquired a platform, from there they can manipulate and create more FUD and ultimately buy some good coins for cheap prices...
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you are right.
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Ah cRaP not goldman sux..........
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interesting
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This is great but it raises some concern . Goldman sach's involvement in the purchase of poloneix could mean two things . Either that they are begining to buy into the idea of crypto currency of they are here to control the crypto world like the bankster always do. These were the same concerns that were raised when ripple coins came out.
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Very cool use case for steem and sbd - I may have to check that out 👍
As far as scaling goes, I'm not sure if the steem blockchain can infinitely scale in this way. Implementing off-chain solutions, in a different way to Bitcoin, may help.
Instead of using off-chain solutions to increase transactions perhaps we can indefinitely split the data up into parts and store on connected servers.
Thoughts?
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Users who want an unparalleled selection of altcoin trading pairs will enjoy Poloniex. The exchange’s setup suits more experienced cryptocurrency traders,it isn’t the place to make your first Bitcoin purchase. If you’re looking to use fiat currencies to purchase cryptocurrencies, then you’ll need to invest in another platform such as Coinbase.Payments to and from Poloniex are only done in crypto currencies. While this limits the potential for attracting less experienced enthusiasts, its transactions are also a bit tricky ....
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Cece ek raya hai
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I have chosen @exyle
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This I think, is a welcome development, sometimes, I'm baffled by the ingenuities involved in cryptocurrencies and the crypto world generally
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ETE, I SIGHT YOU, how are you doing, mkpo abadie?
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Idioke, ekom doh
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wonderful life story.
go ahead
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wow.
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@gotit i sight you thanks for the comment
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Good one sir i really appreciate this work of yours i wish to be popular as your
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It will an interesting development if this move will spark more banks to get interested to take a bigger stake into this space. @exyle
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thanks for sharing this news....
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I believe hence Goldman Sachs is now involved, other banks will follow suit... No time wasting... Great info... Cheers!
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Nice post.. I support this, the world is changing and one has got to adapt to it and make progress with it.. @exyle
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This is a really cool news for investor . Every investor should follow you to be success in this platform. Your informative idea and description really impressed me. Thank you for sharing this post with us.
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Expecting another good news.If financial organization starts accept crypto then it will be very good for the crypto market.Thank's to @exyle for always providing some hope for us.@upvoted and resteemed
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As we can never get to know true reasons behind it, we can hope it's a step forward to make crypto more successful resulting in growth of Steem.
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i always support you man..
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I always respect your ideas about this platform....
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With the unfolding of events in the crypto market, the banks will soon have no other choice than to desire to take a bigger stake
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Counting on you to keep us updated on that😇
Have a great, very very cold day ✌🤗
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Circle, a cryptocurrency-focused financial-services firm, will announce today that it is buying crypto exchange Poloniex—a move that immediately makes Circle one of the largest and most influential companies in the industry. Fortune’s Robert Hackett profiles a company that hopes to leverage the technology behind Bitcoin to become the bank of the next century.
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Thanks for giving some unknown information.
I saw your dtube video....
Your explanation is amazing..
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Nice too see your content sir..
Awesome article and greapoat.
Thanks for your share..
Well done and keep going on..
Have a nice day sir. 👍
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This is a great,
I upvoted you as a witness :) good luck!
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thanks for sharing this news )
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Around $400 million
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Exciting stuff
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It's interesting, I know little about the subject, thanks for sharing, I will continue to update
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wow
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Good news.!
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sir i am a Modern beggar. So, I am not give upvote for you. keep it.
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This is great for investors. Thanks for sharing @exyle!
@iamjimmy
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Excellent video friend,crypto world like a bank. I think crypto go ahead, never stop it.
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I have been worried about the risk that poloniex would get hacked for some time. This would have created a meltdown in the markets. I have a bit more confidence now.
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@exyle!this post is awosome
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"This doesn't really match the bubble rhetoric we have been hearing from them for some time."
Why not? FUD - > market going down - > better entering point.
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very amazing story.
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Keep Steeming! And don't forget to check us out for exclusive sports content :)
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Money, money, money, money that's great but don't we wont to escape from the phycological brainwash of false values through money and its acknowledged destruction and false value, on top of that doing exactly the same ?? it's to say isn't greed behind everything? even anti-money coin?
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Good videos
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very informative & interesting blog★
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Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste, you have my vote :D greetings
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Well that sure is a good news for all the people out in related in crypto !All the latest news updates related to crypto are indeed available out in your blog !thanks for that !
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nice
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Memory and storage aren't a bottleneck these day's arent they? I don't know if thin-provisioning is a option for server capacity? I know it will and can be for storage. But then you are able to be prepared for growth and you don't have to worry for the short term :)
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who use poloniex now i don't know they are simply moving down each day but cool to have a update along hopefully they will work on taking care of their users
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wow very nice
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I don't think this is very good for Crypto currencies. What stop the Cabal bankers to manipulate Crypto currencies through this exchange since they can print endless FIAT money. If I had a account with Poloniex, I'll cancel it.
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With coinbase giving info to the IRS people are going to look at alternatives.
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Goldman Sachs... really... thats one of the most powerful banks in the world. This speaks alot about crypto currencies
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Estas son buenas noticias para el mudo criptograficos querido amigo @exyle.
Muchas gracias por compartir la información del enlace
Te deseo un gran día
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