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Goldman Sachs warns bitterly against Bitcoin Blase

Wednesday, January 24th, 2018 | bitcoin updates

read articles: In the January report by Goldman Sachs (GS) all investors are warned most urgently against the Bitcoin and the unstable "cryptocurrency mania". The expected price losses are said to be more extreme than the crash of the dot-com bubble in the year 2000. Again, the tulip mania is remembered. In the PDF document, which appears on a monthly basis, the analysts cautioned customers in cryptocurrencies invest. Comparisons with the Dutch tulip mania are drawn and it is assumed that one will laugh later about the investors who were willing to put their money into the really worthless coins these days. In the long term, cryptocurrencies will not be able to maintain their current price, believe the staff of the global securities trading firm. The paper also claims that Bitcoin transactions can take up to ten days. There are too big price differences when comparing the prices of the individual online trading platforms. The comparatively high transfer costs of Bitcoin are also considered a minus point. After all, the analysts do not assume that a possible crash of Bitcoin & Co. could bring the global economy to collapse. Apparently, the wind has been turned in the past few months at GS: In October of last year, the company announced that they are in the meantime with The idea was to offer your own customers trading in various cryptocurrencies. By the way, far less negative is set in terms of blockchain technology. Goldman Sachs manager Don Duet said in 2016, one must ask himself why the Blockchain was not invented earlier. This innovation would drive change and have the potential to improve the financial industry everywhere. For banks, this is the "only truth," Duet said in a podcast two years ago. Over the past week, warnings of cryptocurrencies have been heard from all sides. For example, a message from Deutsche Bank to its customers explicitly warned against the high level of volatility that cryptocurrencies entail. Also, an American Nobel laureate for economics, Robert Shiller, had voiced his concerns over bitcoin as the dominant cryptocurrency. After all, the managers of Goldman Sachs are in agreement with the management consultancy Roland Berger in the matter of Blockchain – a recent study showed that the technology will increasingly find its way into the financial industry in the coming years.BTC-ECHOAbout Lars SobirajLars Sobiraj began in 2000, to work as a career changer for various computer magazines. In 2006, gulli.com added new priorities: network policy and copyright. After leading the editorial team until October 2012, he now works freelance for various online magazines and of course for his own project, Tarnkappe.info. In addition, Lars Sobiraj teaches students on Sustainable Marketing & Leadership (M.A.) at Cologne University of Applied Sciences Fresenius how to use the Internet and social networks. Some time ago there was a growing interest in cryptocurrency, which fortunately works without the control of central banks. He would like to do his part to ensure that Bitcoin & Co. are not only of interest to pure speculators, but also to the woman and the man next door. All contributions by Lars Sobiraj Image sources gold man_sachs_shutterstock_733106050: https://www.shutterstock.com/ de / image-photo / milan-italy-august-10-2017-goldman-733106050? src = 4FBcti_-xuJyP3aYK7LQTQ-1-23

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