It’s Happening: Goldman Sachs Just Dropped $50 Million Into a Bitcoin Startup

[TampaAnimusVortex]

http://observer.com/2015/04/its-happening-goldman-sachs-just-dropped-50-million-into-a-bitcoin-startup/

It was only last year that Goldman Sachs was telling investors that Bitcoin wasn’t a safe store of value. Looks like they’ve come around.

A bitcoin startup called Circle says that, as of yesterday, they’ve taken a $50 million in funding in an investment co-led by Goldman Sachs and a Chinese venture firm called IDG Capital Partners. Circle is a company that uses the blockchain—the technology that all bitcoin transactions rest on—to move money quickly with no lumbering transaction fees.

In tandem with the investment, Circle is adding more seamless transaction capabilities to make transferring bitcoin, U.S. dollars and the yuan faster and cheaper.

“We believe in a hybrid digital economy in which value moves freely around the world and converts into other currencies—including both crypto and fiat currencies—seamlessly, safely, and instantly,” Circle founder Jeremy Allaire wrote on the company blog.

[MannyGoldstein]

1. I *told* you that Bernie's a credible threat. nt

[Initech]

2. People who know crap about currency + people who know crap about investing = Bitcoin

Good luck keeping those servers secure.

[arcane1]

3. Goldman Sachs, known confidence-builder.

On the bright side, they can always come to us for another bailout if this goes sour.

[Cleita]

4. Why we need Bernie and a Democratic Congress in 2016 more than ever.n/t

[randome]

5. "We believe in a hybrid digital economy..."

That's what we have now! My god, can that last paragraph be any more obtuse? Full of nonsense words and zero content.

Sorry if you think I'm 'against' Bitcoin. I'm not. I just think it's hilarious to think that money is going to magically change the economy.
[hr][font color="blue"][center]"If you're bored then you're boring." -Harvey Danger[/center][/font][hr]

[TampaAnimusVortex]

6. Well, if we can cut the profits of credit card companies, I'm all for it.

Every penny that doesn't go to them stays in the pockets of people that really can use that money.

That said, Bitcoin isn't ready for prime time just yet. It can't support a full blown economy with billions riding on it. It can be upgraded over time to do it, but not just yet.

That said, there is some interesting things happening in the decentralized space overall, like Ethereum and Zerocash. Ethereum along will change the world I think.