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Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: Goldman Sachs is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier, two of the people said. Another said it's still trying to work out security issues as well as how it would hold, or custody, the assets. The move positions Goldman Sachs to become the first large Wall Street firm to make markets in cryptocurrencies, whose wild price swings and surging values have captured the public's imagination but given pause to established institutions. Goldman Sachs is now assembling a team in New York, one of the people said. While the bank hasn't made a decision where to house the desk, one possibility is that it will operate within the fixed-income, currencies and commodities unit's systematic trading function, which conducts transactions electronically, two people said.
Opening up into new ways to scam the world
It's hilarious to me how proponents of technologies like crypocurrencies and git go on and on and on about how supposedly great it is that they're supposedly "decentralized" and "distributed", yet in practice we've seen those technologies revert back to very centralized, non-distributed usage patterns!
With git the centralization happened at GitHub, or for some projects/businesses it's a master repo they host on their own server(s) using something like GitLab. For end users it's really no different than when they were using CVS or SVN with a provider like SourceForge or their project's/company's server. All of the developers push to the central repo, all pull changes from the central repo, and all throw a shit fit when the central repo goes down for some reason!
With cryptocurrencies we're seeing the same thing happen. The centralization is around the exchanges, and now even well-established existing financial institutions!
Any time anybody starts bragging about how their preferred technology is "decentralized" or "distributed", I have to laugh at them! We've always seen supposedly decentralized and distributed technologies revert back to some form of centralization.
In fact, this phenomenon needs a name:
Cockfoster's Law: A decentralized, distributed software system will always revert back to some form of centralization in order to achieve even just a minimal level of usability and usefulness.
recentralization
It's off-topic, but I don't think git is a good example. While we use BitBucket at my company, its simply a way to get all the developers synchronized on the same set of commits. The nature of git, every developer has a complete copy of the repo and they can commit and all they like to their copies. If the central goes down, you can restore it not only from backup, but copies sitting on any of the devs systems. It also allows flexible backups by setting up remotes to multiple locations that can still be local just another drive.
Without a central repository how would you make sure all the devs have the latest copy? Make them all do a web of pulls, rebases and merges to make sure everyone is up to date?
Goldman Sachs... Currency... What could possibly go wrong?
Run, buddy, run. Goldman sucks, those guys who stole billions from all over the place, you guys are doomed. You know what is coming, you know what they will do, you know they will fuck you over, it is hard wired into their nature. They'll be blowing up that bridge that traps you on the other side as they strip mine you of assets. Don't say you haven't been warned, again and again and again.
Chaos - everything, everywhere, everywhen
Hell, that's mainstream baby, no matter who's in or of the White House.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
If one of those trading accounts gets heisted....
Ol' Harry Weinstein is quite the angel by comparison, I, for one, am fascinated. Even while the mechanics are as simple as can be (nature always is), to watch it happen and the mild reaction is such an amazing spectacle. There's a certain beauty to it all. I mean, you look at the guy's face, and you think, "Yech!", but he flashes some bling, and next thing you know, you're on your fucking knees, you whore! What the fuck is wrong with you?! And then you're gonna come back a fucking half a century later and complain?! About what?!
So here you are doing the same thing with the big mean banks, bitch bitch bitch, while giving blow jobs to their man servants... You people are trippin', man!
The point still stands. You've just proved his point, actually.
Please refer to Cockfosters Law: A decentralized, distributed software system will always revert back to some form of centralization in order to achieve even just a minimal level of usability and usefulness.
There are advantages to centralization, and to decentralization. It seems to me a lot of things tend to naturally move to take advantage of both with a hub-and-spoke architecture. The internet is decentralized, right? If you look at a map of fiber lines in the US, you'll see all the fattest pipes converge at a very few hundred locations, each feeding smaller sub-hubs.
Amazon needs to have their products close to consumers for fast delivery, but big centralized warehouses that have everything also make sense. The map of Amazon's distribution network looks similar to the internet map - several primary warehouses and 100 or so sub distribution centers, basically one for each major city. A lot of things are distributed clusters like that.
Git is kinda a bad example of "no benefit to decentralization" because the original Git repo, Linus's Linux repo, got wiped in a disk failure once. No need to restore from backup, he just pulled from someone else's repo. His isn't "central" in any way technology wise, that's a purely social concept that isn't based on the technology - there's nothing that marks it as different from any other copy.
At work I regularly pull from co-workers' repos and send them pul requests. Maybe half my work isn't pushed directly to "corporate" repo that ships to customers. Instead, a co-worker does a pull request and in code review (looking at their repo) I see a change that would improve their work. I then pull from them, make my updates, and send them a pull request. They pull my changes to their changes into their repo. Another co-worker might do the same. When we're done working on the feature, whoever owns that feature sends a PR for the repo that goes to customers. So work moves around from co-worker to co-worker directly, without involving any central repo.
turning out for you? You know, you can't drain it when there's a billionaire with a sewage pump twice the size of your drain, right? If you thought they were going to just let you go do your own thing, well, I can't even rightly call that naive. There's got to be another word for it. Maybe in German. They've got long words for bad things, right?
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
GS would not want the exposure so they must have a plan to hedge it.
Clusters, hubs and spokes are attributes of hierarchical centralisation. They aren't decentralisation. They're actually a degenerate case of centralisation, where not all nodes are directly linked with one another. Decentralisation can only happen in exactly one case, and that's when each node is directly linked to all other nodes. If even just two nodes in a network aren't directly linked then there is no decentralisation.
I have never seen the value of cryptocurrency (as commonly implemented today.) The way that the systems are designed require that all transactions be made public on the network and tied to a unique set of numbers corresponding to particular "wallets." There is ultimately zero anonymity with cryptocurrency long-term. Decentralization doesn't matter once the currency becomes widespread. It was always destined to become the same kind of gambling that Forex trading tends to be: dump in money, wait for increase in value due to others dumping in money, bail out with their money if they don't bail first with yours. If I wanted to do that, I may as well just be a penny stock day trader.
Cryptocurrency as commonly implemented today has been garbage from the start and anyone who tries to make money off of it does so at their own extreme peril. This just reeks of a way for really rich people to be in greater control of it as they are with Forex.
These guys are fucking morons. The cryptocurrency game has been "on" for so many years it's hard to ignore how these morons that previously decried them as "insubstantial" and are now eating their feet. There is no way in hell I would trust them to understand how this market works. They proved they had no clue previously.
With zero intrinsic value, and an infinite supply of alternative schemes, Bitcoin is truly idiocy. Who cares if it has market share today -- it takes near zero effort to support others. If people are worried about the dollar, they should not go near bitcoin. The concept is beautiful, a limited number of coins, with the supply calibrated to expand.... Except that anyone can create another system, so the supply of systems is infinite. Oops. Goldman could make money arbitraging this -- maybe. But anyone long on these things is, to quote Buffet, buying a nonproductive asset. Worse, bitcoin is literally useless -- you cannot make Jewelry out of it, you cannot make circuit boards out of it. Bitcoin could go up to $100k tomorrow, but that does not mean it's a good investment. It's a gamble, and what you are gambling on is that there are people out there who are stupider than you if you are long. It will be interesting to see if Goldman can actually make money on this. It's not easy to secretly short bitcoin. How will they hedge?
Wow, you really smoked some bad S**T in the third reich but you lost, remember? Instead of bitching about a tiny religion with an outsized impact on the world because of its emphasis on study, why don't you learn something other than hatred? Do something, make some money, get a life? I wish I had some of that power you speak of but not all us class 4 Jews are in the loop I guess. I particularly enjoy that bit about Jews controlling the music industry. All those damn Jews: Snoop, 50 cent, Janet Jackson, Madonna, ...
We did have a good run in Nobel prizes that you forgot to mention. Rabi, Einstein, Feinman, .... All no doubt awarded by those damned Swedish Jews you hate so much. But sadly, as the US immigrants assimilated, that has gone away. Now the people doing the research are more Chinese, Indian, Pakistani and Iranian Jews. Do you hate them too?
It wasn't said he hated jews. Big fail 'godwin' try on nazis but many nations banished jews (not nazi). Anyone can verify history proofs he posted. I have money. I don't make it my God as jews do (gold). You class 4 jews as you call it were tossed under a bus by your own (soros). Shouldn't have spoken of Madonna. She likes the jewish book of mysticism the Kaballah. I notice you won't touch the rest of that post's details either. Poor try on the selective critique but as anyone can see and can verify as to my statements above against yours? You were very easy to tear apart. No 'subterfurge wording' your own talmud speaks of as it says us non-jews are cattle and pigs to be murdered and robbed plus enslaved in can fool us.
Those predatory fuckers are getting in the game!
I'm waiting for them to start sending people to play roulette in Vegas. I mean, $$$.
When you hate people, you make claims about how "they" are all .... You don't have to say the word hate to make it clear. You clearly hate me, even though I've never done anything to you, never controlled the media, cheated any "gentiles" out of their life savings.
I'm not going to refute you point by point. I am not interested in your obsessions. I know a lot of Jews, and I don't know any that behave the way you describe. And I'll bet you don't know any personally, because you hate us so much in the abstract. You hate us so much that you consider Madonna tainted just because she's into Kaballah, though she's also into piercings, Bondage and Discipline, and displays of public sexuality, not exactly behavior sanctioned by orthodox Judaism. Madonna's been into quite a few things. Don't worry, I'm sure she'll grow out of it.
I live a middle class life, worry about retirement, college for the kids, what we will do when computers make labor obsolete, all the usual things slashdotters do.
"We Jews" are not all anything, any more than non-jews are pigs. *You* are a pig, and I'm sure you would make excellent bacon, but that doesn't make your neighbors pigs. Everyone has to earn the epithets by their behavior. You certainly earn yours.
As I asked, is it only Jews? Are there any other groups you have a high opinion of?
keeps on sucking
putting the 'B' in LGBTQ+
*All* speculation in the world for everything that exists is speculation. The question is: Did you capitalize on it and built yourself up?
From your response I'm guessing your're a poor little dumbass that doesn't know foot from mouth and is now jealous of those who profited from intelligence.
Even if you were right (which you're not), there's no need to be mean about it.
"Speculation" is used in investing as distinct from "investment." Investment generally refers to putting money into a company based on some meaningful information and guesses about what the company is going to do and how well it is going to perform--for example, you look at the Amazon echo and Amazon financial statements and decide you should invest in Amazon. Speculation refers to primarily uneducated guessing about which way the numbers are going to move, especially in a way which is disconnected from meaningful metrics. Following the herd to ride the bubble is speculation.
Jews believe this of all they call goyim/gentiles (any non-jew): Jews = biggest racists of all (for which they "jew guilt" you for no less! They're hypocrites known as thieves all thru history or were Argentines in the 1940 under Perrone, Spanish inquistion, France (1306), Egypt (despoiled/robbed by jews), Arabs (pre & post 1948), England (1330 Edward longshanks), Romans under titus, Russia pogroms and Germany who got rid of them from their nations nazi german's too? No. Driven into DESERTS ages ago! Don't wonder why after all those exilings above. Should anyone doubt any of this see Jacob Javits' crony Rosenthal spill the beans on it https://www.youtube.com/watch?v=D4zMVZ8HnFI/ where he called all Christianity fools for helping Israel and the biggest scam of all time per their beliefs below from their Talmud. This is the province of the synagogue of Satan (Khazar/Pharisees whom Jesus Christ himself kicked to the curb out of the temple & they killed him for it. Jeremiah did the same to them also + the Essenes could not stand them either breaking away from the pharisee corruption):
Barbara Spectre, a jew, tells everyone it's jews orchestrating the muslim migrant problem in Europe https://www.youtube.com/watch?v=MFE0qAiofMQ/ . No migrant raping of women in Poland. Tons in Sweden. Do the math. Use common-sense. This is to get muslims and other goyim/gentiles to wipe one another out as incompatible cultures that will clash and always have.
George Soros who funds groups to create division in the USA?? A jew. One who sold his own jew people into death for the nazis. Zucker @ CNN is another frying publicly for lying about "russians" and John Bonifield a producer @ CNN said it is bs. Van Jones did also.
What World-famous Men have said About the Jews https://www.youtube.com/watch?v=4MYPzKNQUE0/
Harvey Weinstein the sexual predator tops it all off.
There are 4 types of people who call themselves Jews:
1. True Torah Jews = Descendants of Prophet Jacob-Israel (Jacobites or Israelites) (about 5%-10% of all Jews)
2. Khazarian or Ashkenazi Jews: these are the descendants of a Turkic idol/phallic worshiping tribe who migrated to Russia in the 7th Century A.C. and whose nobility converted to Judaism in the 8th Century A.C. and now inhabit mostly Europe. (about 90%-95% of all Jews)
3. Sephardic Jews = Persian descent.
4. Zionist Jews: these are the ones from the 2 above who are pretending to be Jews for political reasons but whoâ(TM)re are actually Illuminists-Luciferian-Masonic-Satanists as Harold Wallace Rosenthal admits in this interview.
They are led by the neo-Pharisees (occult-priest-banklords). They want to establish a Zionist Luciferian state from the Nile to the Euphrates from where they plan to rule the Earth. The new Israeli Supreme Court funded by the Rothschilds Banklords is full of Masonic Symbols, just like the B.I.S. Bank of International Settlements in Basel, Switzerland, which is the Mother of All Private Central Banks.
The hexagram symbol on the Israeli flag is the ancient Star of Moloch, a Satanic-Baal deity to which people were sacrificed. There is no such thing as a Star of David which the modern Jews have been fooled into believing; however, the True Torah Jews are not fooled by the Zionists Illuminatis and you can visit their websites for more info .
1. Sanhedrin 59a: "Murdering Goyim is like killing a wild animal."
2. Abodah Zara 26b: "Even the best of the Gentiles should be killed."
3. Sanhedrin 59a: "A goy (Gentile) who pries into The Law (Talmud) is guilty of death."
4. Yebhamoth 11b: "Sexual intercourse with a little girl is permitted if she is three years of age."
5. Schabouth Hag. 6d: "Jews may swear falsely by use of subterfuge wording."
6. Hilkkoth Akum X1: "Do not save Goyim in danger of death."
7. Hilk
Again you use jew 'subterfuge wording'. Not all jews are zionist which is pointed out in the post you bitch of. You hate yourselves. Proof is cutting off your noses in plastic surgery. You expect others to accept you and you can't even accept yourselves as you are? You expect others to accept you when YOUR OWN BELIEFS outright say non-jews/goy/gentiles are cattle to be robbed, raped, and slaughtered?? Please. I though you jews were smart (and I know you're a matriarchically driven by mama culture who selects whom you marry or no inheritance. Don't even TRY tell me differently. I know many a jew and saw it happen). I am sure you have the same worries some folks do. It's your beliefs that are in question. Calling me a pig? Please. It shows you have no valid defense against all of what is in the post you cry about. Bacon? Hey, I was never put into an oven to bake (but I know who was and who was kicked nation to nation many times in history. Why is that? The great men of history bookmark in the post you cry about show why and so do your written beliefs in the talmud). Again, you show you are simple to dismantle. Especially your avoidance of proofs that post puts out. Accept defeat. You defeat yourself, again. The sad part is this. Sociologically provable in fact. In jail like type people pool together and have to. Very few can stand alone in that circumstance. Hence when push comes to shove? You will pool even with zionist jews. Even when they toss you under the bus as Soros did for the nazis. Why? You know that nobody else will trust you. Your own methods and modus operandi, history, and culture do that for you in your own words. You do it to yourselves.
Being dragged kicking and screaming I see. Just the other week they were shitting on all of this. Dinosaurs.
I agree
Wow someone read that shit? He could have saved everyone from reading all the hitlersplaining and just posted a picture of his shit caked asshole with the pubes shaved like a toothbrush
1 thing we can always count on is that when exposed and caught with their pants down the JUDE will be crude (their true nature of crooked thieving slime banished nation after nation throughout history).
If you want mine your own crypto currency, you need a motherboard with 19 PCIe 1X slots to plug in 19 GPUs and a couple of 1200W PSUs.