Goldman Sachs

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Goldman Sachs people

Top experts from the Goldman Sachs network.

Reviews by Goldman Sachs people

Cryptocurrency reviews from the executives, employees and alumni of Goldman Sachs.

  • Mike Novogratz on XRP CEO of Galaxy Investment Partners

    Full disclosure: I am a day one investor in Ripple Labs. I have said many times that you need to diversify bets in the crypto space. I just think we need to look at things correctly.

    Full review 🔑


  • Mike Novogratz on EOS CEO of Galaxy Investment Partners

    None of them [blockchains] are fast enough for industrial strength. We have one that just started called EOS, and that will be one of the first fast blockchains. One of the reasons why I think EOS has a shot is because it has a $5 billion-$6 billion war chest.

    Full review 🔑


  • Brendan Bernstein on EOS Founding Partner of Tetras Capital

    If the moat of Ethereum (ETH) is this easy to break by EOS, won’t EOS’s be as well? Just a month ago, people thought ETH would be worth 15x BTC.

    Smart contract platforms' battle will be fun to watch, but in the end, they’ll all commoditize each other. This is a prisoners dilemma in action.

    Full review 💩


  • Jill Carlson on Dentacoin Cryptocurrency Consultant at Juno LLC

    If you are buying Dentacoin, you are part of the problem.

    Full review 💩


  • Brendan Bernstein on Dentacoin Founding Partner of Tetras Capital

    The biggest question is if the entire market needs to be shaken out and if everything craters along with them.

    Institutional investors entering are a big part as well. I have a feeling they won't be investing in DeepBrain Chain and Dentacoin.

    Full review 💩


  • Jill Carlson on Bitcoin Cryptocurrency Consultant at Juno LLC

    Why will Bitcoin accrue value in a way that Ethereum won’t?

    Because in addition to being a protocol, it is a product.

    Full review 🔑


  • Murad Mahmudov on Decred Cyptocurrency at Adaptive Capital.

    The chances of Decred outcompeting Bitcoin are close to zero.

    Mob rule/the rule of the rich is not ideal for neo-gold.

    Full review 💩
    Show thread Murad Mahmudov on Decred


  • Brendan Bernstein on Ethereum Founding Partner of Tetras Capital

    Only four applications have more than 500 daily active users. Ethereum's supposed use case of "decentralized applications" is clearly not where the usage is coming from — and yet blocks are still nearly full.

    Full review 💩


  • Murad Mahmudov on Nano Cyptocurrency at Adaptive Capital.

    Speed is mostly irrelevant for SoV.

    It's all about security + disinflation + proven unchangeability . . . BTC beats Nano by an enormous margin.

    Holding Nano as a bet it can become a "SoV" when BTC exists is irrational, dangerous, risky.

    Full review 💩


  • Brendan Bernstein on Golem Founding Partner of Tetras Capital

    We're on the precipice of some major applications launching: Augur, Golem, MANA, CryptoKitties with $12m of funding, etc.

    Without Plasma and Sharding, I expect fees to go through the roof on ETH. And if fees are too high from low value "spam," real usage will be crowded out.

    Full review 💩


  • Brendan Bernstein on Augur Founding Partner of Tetras Capital

    Heard a lot of claims that Augur will bring obscure bets online or obsolete bookies but many don’t realize that (1) most sport books have “obscure bets” if there’s demand and (2) bookies don’t hang in back alley ways anymore...

    Full review 💩


  • Murad Mahmudov on Dash Cyptocurrency at Adaptive Capital.

    Dash sucks, premined, shit privacy. ZEC/XMR far better.

    Full review 💩


  • Jill Carlson on 0x Cryptocurrency Consultant at Juno LLC

    I’m a big fan of 0x and decentralized exchange.

    I’m also a big fan of enabling unique new things using this technology.

    I’m not a big fan of pretending old school financial engineering is one of those unique new things.

    Full review 🔑


  • Jill Carlson on Monero Cryptocurrency Consultant at Juno LLC

    Like Bitcoin before them, the assets that have met a real economic need have done so by enabling a form of ownership or transaction that was not previously possible. Zcash and Monero, which both implement privacy as a feature of transactions, are good examples of this.

    Full review 🔑


  • Fred Ehrsam on Numerai Co-Founder of Coinbase

    Numerai is one of the first examples I have seen where the clear endgame is a product for AIs.

    Full review 🔑


  • Joseph Lubin on Bitcoin Founder of ConsenSys

    Full nodes on the Bitcoin blockchain store every transaction made going back to the zero block; full nodes on the Ethereum blockchain additionally store the static code (if any) associated with a given account and that code’s current state in storage.

    Full review 💩


  • Murad Mahmudov on Bitcoin Cyptocurrency at Adaptive Capital.

    Bitcoin exists not only on the technological layer but even more importantly, on the social layer. It is open-source software. If there is truly a technological breakthrough, it can simply be added to bitcoin.

    Full review 🔑
    Show thread Murad Mahmudov on Bitcoin


  • Murad Mahmudov on Ethereum Cyptocurrency at Adaptive Capital.

    Ethereum is between a rock and a hard place.

    It isn’t as good at being SoV / Sound Money as BTC, and it is likely not going to be as smooth / cheap / frictionless at being a DApp platform as more centralized platforms like EOS.

    Full review 💩
    Show thread Murad Mahmudov on Ethereum


  • Murad Mahmudov on VeChain Cyptocurrency at Adaptive Capital.

    BTC has a clear pathway to becoming an actual money. The way value accrues to VET is totally unknown.

    Full review 💩


  • Fred Ehrsam on Ethereum Co-Founder of Coinbase

    Ethereum was the first thing to me to come along [after Bitcoin] and create something with capabilities so new that it was worth adding [to Coinbase]. Allowing arbitrary programs is amazing, fiddling with block time/inflation rate is not.

    [T]he future is thousands/millions of cryptoassets like we have millions of apps and websites but very few base networks. This mostly looks like assets being built on top of Ethereum at the moment.

    Full review 🔑
    Show thread Fred Ehrsam on Ethereum


  • Fred Ehrsam on Bitcoin Co-Founder of Coinbase

    [B]itcoin as a payment system is just one of the potential applications of the network. To cap Bitcoin’s value here would be like saying that the Internet, in the early days, was only as valuable as its ability to send email in a more efficient way than fax or snail mail. Bitcoin is valuable as a currency because of the economic efficiencies the Bitcoin network is already creating as transactions flow over it. As with the Internet, more applications will flourish which will make the Bitcoin network, and thus Bitcoin as a currency, valuable.

    Full review 🔑
    Show thread Fred Ehrsam on Bitcoin


  • Fred Ehrsam on Bitcoin Co-Founder of Coinbase

    The Internet enables decentralized distribution of data. Bitcoin enables decentralized proof and transfer of ownership.

    Full review 🔑
    Show thread Fred Ehrsam on Bitcoin


  • Brendan Bernstein on Kin Founding Partner of Tetras Capital

    [Kin is] catering to, and preying on, institutions that don't truly understand the space and likely have LP pressure to invest. It's much easier for them to get behind an investment with a CEO and a traditional user base. Kin was the first of this sort. I expect more to come

    Full review 💩


  • Joseph Lubin on Ethereum Founder of ConsenSys

    If a network like Bitcoin or Ethereum has thousands of nodes, we can be confident that these systems are harder to improperly manipulate than nearly any system in human history. We would achieve maximal decentralization of a blockchain network if every person on the planet owned precisely one full node device connected to the network.

    Proof of work systems are vulnerable to reduction in decentralization at the node network level due to costs of hardware and energy, preferential access to optimal hardware, and efficiencies of scale. A well designed proof of stake system will remove these asymmetries, enabling more people to own or control hardware on the network. The barrier to entry will be low enough so that nearly anyone will be able to validate transactions on the Ethereum network and help secure it.

    Casper proof of stake will bring breakthroughs in scalability, while enabling the network to be more decentralized and therefore more secure. Casper on the Ethereum Beacon chain is live on testnets now, and the 8 teams building their own implementations of the protocol should be in sync on a shared testnet within a small number of months.

    Full review 🔑


  • Joseph Lubin on EOS Founder of ConsenSys

    As has been debated endlessly, a platform controlled by 21 crypto bros is just not all that decentralized. They can collude and censor if they wish. Governments and other well resourced actors can bribe them or force them to act against their will and against the well-being and security of the people using the platform.

    It has been argued that if these block producers start behaving badly, they will be voted out, and that is the main source of decentralization in the system.

    Unfortunately, there is no good way for anyone to detect that they are colluding, or have been corrupted or forced into some sort of improper action. I can imagine EOS being used for some games, but not even for games that have high value tokens. It will be too easy to organize to steal value on this platform.

    Full review 💩


  • Joseph Lubin on Polkadot Founder of ConsenSys

    The Polkadot worldview sees Ethereum connected as a potential “virtual parachain” via a bridge. For any parachain to become attached to the Polkadot relay chain, it must be voted in by the holders of dots — the Polkadot system token. These voters can also choose to pause a parachain or remove a parachain from the system if it is deemed to be out of compliance with what the majority prefers. Effectively, this is a permissioned system, and white listing and blacklisting of entire parachain networks is a core tenet of the governance system of Polkadot.

    One could imagine a parachain choosing to be permissionless and allowing anyone to upload any dapp, but ultimately the DOT holders might take issue with this, as they might be considered by authorities to be responsible, so it would probably be too dangerous a policy for a parachain to offer. It is likely that this will be a permissioned and highly controlled blockchain platform.

    Full review 💩


  • Joseph Lubin on Cosmos Founder of ConsenSys

    Cosmos doesn’t really propose a base trust layer. It seems more focussed on enabling different sovereign platforms to interoperate side-by-side. And it doesn’t appear that there will be much interoperation between platforms in the next few years beyond enabling tokens to move back and forth across network boundaries. The Cosmos team feels that this will be the main and most important interoperation use case.

    I expect Cosmos to have good utility as a layer two solution, linked into the base trust layer when necessary. Cosmos also expects to interoperate with Ethereum through a token bridge.

    Full review 🔑


  • Joseph Lubin on Libra Founder of ConsenSys

    First, some context: I think the#blockchain space benefits from experimentation, including the Libra project. What does not benefit the space is a Facebook-led blockchain project, led in typical Facebook style....

    Mark Zuckerberg talks about Librain terms that are quite familiar (and validating) to the people already building blockchain systems: broadening financial inclusion & fixing a broken financial system.

    How they propose to achieve that with a consortium of a few dozen mega-corporations at the helm is less clear––to say nothing of their own track record with the public’s data and privacy rights, issues many on the Committee similarly raised.

    The Libra story is about dominant technology players trying to shoehorn themselves into what is going to be the future of the internet. Possibly they see the writing on the wall and want to make sure they have a seat at the table when new technologies like blockchain take hold.

    Full review 💩