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Goldman Sachs Explores a New World: Trading Bitcoin (wsj.com)
Several readers share a report: Goldman Sachs is weighing a new trading operation dedicated to bitcoin and other digital currencies, the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market (Editor's note: the link from WSJ, which originally reported this development, could be paywalled; alternative source), according to people familiar with the matter. Goldman's effort is in its early stages and may not proceed, the people said. The firm's interest, though, could boost bitcoin's standing among investors and fuel the debate around digital currencies, which were initially viewed as havens for illicit activity but are pushing further into the mainstream investment world. China in recent weeks has banned exchanges that trade bitcoin, fearing the virtual currency could provide an avenue for capital flight. J.P. Morgan Chase & Co Chief Executive James Dimon, whose bank is the largest dealer in global currencies, last month called bitcoin a "fraud" and said he would fire any employee who traded it. Yet Japan's government has embraced bitcoin, creating regulations to legitimize its trading. India and Sweden have mused about creating their own virtual currencies, and the U.S. Federal Reserve has studied bitcoin and the technology underpinning it.
incorrect. You cannot hop online and purchase real goods and services with 'speculation.' I can actively trade back and forth between gold bullion and BTC, you can't do that with 'speculation.' Give me any definition of currency that doesn't involve the US government and I can tell you how BTC fulfills it.
How long will it be before the geniuses at the too-big-to-fail banks can find a way to totally screw up bitcoin?
CUR ALLOC 20195.....5804M