Goldman Sachs informs: Bitcoin is not an asset class 👨‍🏫₿

Most of this is true, but 🤔🤔.. so??

Ya, Bitcoin doesn't generate cash like bonds do. Bitcoin also doesn't lay eggs like chickens do.


Hockey Pucks Including The Black Ones Are Not Household Cleaning Products.

(Just in case you were wondering.)

It's like the American Dental Association doesn't see a guy sitting over there on the park bench and feel like they should announce that he's not a dentist.

Oh, "he doesn't have a dentist degree", "he's awful at using the pick", "has no patience" blahblah.. okay? If clearly he isn't a dentist, why are we even talking about whether or not he's a dentist?

Don't worry about it lol

Note: I'm not a vacuum cleaner. 🤣🤣

I might be awesome and a dream, but I'm not a vacuum cleaner. I meet none of the characteristics, plz don't consider me to be such a thing.

But ya, they mostly are accurate statements. Except this one is kinda funky:

"We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment class for our clients."

Then stocks aren't suitable for them either, lol.

It always "depends on someone being willing to pay a higher price for it". That's just the mechanics of how buy --> sell/profit would work.

How would it ever not depend on that?

It's just with stocks, they realize the amount people are willing to pay is predicated on the fundamental profit generating ability of the company. And then with Bitcoin, it's too abstract and mind-bending to think about what factors predicate its value and what people are basing it on, so their brain skips to ".....someone randomly pays a higher price".

Or in other words this just amounts to an indirect way of suggesting there's no point or fundamental reason to hodl Bitcoin.

(And that's fine if they think that or want to assert that. The future isn't bound by what a few people writing a statement for a bank can currently imagine, so go ahead. But they could do it directly.)

They could say they don't find it suitable because it's weird and hurts our head and we don't see what the value is. Fine. Let's check the scoreboard in 20 years and see how you did. But all investments have the aspect of needing someone to pay a higher price for it in the future -- so it makes no sense that that would be a reason you don't find it suitable.

It's funny how Bitcoin can tilt people into making such weird statements. It's like, if you weren't lost in an effort to rationalize Bitcoin or guide how you want people to feel about it, you probably wouldn't have come up with that string of words.

"it's currency!" "it's an asset!"

"guys it's not an asset!!! doesn't meet the qualities of the asset class."



It's like there's always this quest to determine what to call it or what box to put it in.

It's math, of course.

Really really really really is just a piece of math.

And then why it matters and how it will be used is abstract, and not really built for what a bank might talk about in a PR statement.

Comments 3

Not an asset Class but "Above an asset" , No body can fail the people power, The blockchain and Bitcoin is the peoples money where no one can control but we have needed trusted platform for trading due to some scam project cause negative impression , We need project coming like Koinpro, will help to maintain trust and reputation of crypto overall

03.06.2020 16:42

Not an asset Class but "Above an asset" , No body can fail the people power

hehe ya, it kind of reminds me of a school teacher being like "oh that kid's trouble" and not approving, but really it's like the kid is interesting and curious and just too next-level 🤷

Never heard of Koinpro. Off the top of my head I'd say stay far, far away. Most of these things are scams and have no purpose.

(No offense, and best of luck. But I don't want anyone reading my blargh to see that and not see a reply to it.)

Crypto overall really deserves no trust lol. The math of how to do p2p transactions is all that matters, and can happen on one network. Maybe in the way future there will be some niche purpose to a side chain, idk. But in general these "projects" are just scams, they want you to send them money for their pointless token.

(The way Goldman Sachs sees Bitcoin is basically the right way to look at altcoins and all the Bitcoin forks and whatnot.)


03.06.2020 21:45

Ohhhh I see, all your comments talk about why we should be buying Koinpro 😴😴 Kind of figured that's what I'd find.

I bet you aren't really the pretty lady in the green blouse 😡😡


03.06.2020 21:54