
Goldman Sachs says the price of Bitcoin is never coming back - chollida1
https://markets.businessinsider.com/currencies/news/bitcoin-price-never-coming-back-goldman-sachs-says-2018-8-1027429844
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buahahaha
Not that I disagree with them, but their forecast is based on never believing
it would work in the first place. All their reasons for it continuing to fall
are reasons it should not have reached its ridiculous, frenzied peak.

> 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

Thanks guy; really went on a limb there with 80% of the world hesitating to
jump into bitcoin because they thought it was a bubble. Very newsworthy
opinion you have there. I'm glad you admit you had no idea on the timeline
either. That was generous.

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sp332
Yeah, I might believe that it's never coming back _after_ I see how the next
Christmas rush goes.

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tango24
Why would there be another Christmas rush?

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sp332
* shrug * Why was there even one?

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jraines
Nowhere in the article does it say _never coming back_.

Meanwhile their portfolio company Circle bought Poloniex, a deal that almost
certainly wouldn't have happened without some assurances from friends in high
places.

This isn't to say it's somehow nefarious. There are many teams/analysts and
"it will drop more" is the (reasonable) opinion of one.

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tango24
It’s been discussed here before that 9 of 10 venture capital investments fail,
and so you should make 10 potential big bets to make up for the losses. So
Poloneix could be one of those 9. Why do you assume there are assurances?

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jraines
Just because it's more likely than not part of their due diligence, and they
have the connections to do it. "Hey, before we sign off, call your ex-manager
Bob at the SEC and ask Bill from the CFTC at your dinner party tonight if the
hammer's coming down on this stuff."

Yes, big dumb bets and Theranos-type due diligence exist, but I'm just saying
my own estimation of it. "Assurances" might be too strong a word, maybe more
like "not-unfavorable insider reports on regulator sentiment"

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LyndsySimon
I've heard this before - multiple times.

As someone who started their involvement with Bitcoin in 2010/2011, the idea
that it comprises a measurable percent of the global GDP is fantastic.

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Proziam
Meanwhile, ICE is getting involved in BTC. Timing isn't at all suspicious
there. Nope.

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peter-m80
So it is time to buy again...

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jacknews
Golden Sacks are talking bitcoin down?

BUY BUY BUY!

(or maybe that's what they want you to think, the sneaks. lol)

