Goldman Sachs confirms launch of Bitcoin Futures Trading Desk

The investment bank Goldman Sachs has confirmed that it will launch a Bitcoin Trading Desk to meet its clients’ demand for crypto currencies.

We have already reported that there are rumours regarding Morgan Stanley planning a Bitcoin Trading Desk. Apparently, Wall Street companies are competing to determine who will be the first to release their product to the market. Goldman Sachs CEO Lloyd Blankfein confirmed that the investment bank will begin clearing futures in Bitcoin for “some futures clients” this year.

Goldman Sachs squints at Crypto Bitcoin profit

The launch of the Bitcoin Trading Desk is a significant Bitcoin profit change in the Bitcoin profit of Goldman Sachs CEO, who stated in an interview with Bloomberg last year that the digital currency is a “vehicle for fraud”.

Rana Yared, a Goldman Sachs executive in charge of overseeing the creation of the new Bitcoin trading desk, said in an interview with The New York Times that the organization has adopted a cautious stance on the crypto currency:

“I WOULDN’T CALL MYSELF A TRUE BELIEVER WHO WAKES UP AND THINKS BITCOIN WILL CONQUER THE WORLD. ALMOST EVERYONE INVOLVED WAS PERSONALLY SKEPTICAL.”

Fortune reports that Goldman Sachs will offer a limited number of derivatives that will trade Bitcoin futures. Yared confirmed to the New York Times that “Bitcoin is not a scam and does not have the characteristics of a currency”, explaining that the creation of the Bitcoin Trading Deks largely responds to customer demand:

“IT COMES TO US WHEN A CLIENT SAYS, “I WANT TO HOLD BITCOIN OR BITCOIN FUTURES BECAUSE I THINK IT’S AN ALTERNATIVE WAY TO STORE VALUE.”

In addition to requests from hedge funds to invest in the new volatile asset class, Yared stated that the bank had received interest from foundations that had received donations in crypto currency and were not sure how to deal with it.

Goldman Sachs Direct Bitcoin Trading in Ethereum code

Goldman Sachs has already started clearing trades for customers who buy and sell futuresĀ in this Ethereum code review via the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE), but with the introduction of the new trading desk, the bank will use its own capital for futures contracts. The Bitcoin Trading Desk is led by Justin Schmidt, who recently joined Goldman Sachs in the newly created digital asset trading position.

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New Ethereum programming language Vyper makes ETH blockchain more secure

Ethereum programming language Vyper makes Ether blockchain safer

The new Ethereum language Vyper was published in the beta and receives enthusiastic comments in the social media. The language offers developers an alternative to Solidity with some improvement.

Vyper Beta ready for testing

Like Solidity, Vyper compiles bytecode down to the Ethereum Virtual Machine (EVM). Vyper was developed to simplify this process with the goal of creating more understandable smart contracts with fewer points of attack and more transparency.

For a code targeting EVM, it is important that it is very efficient to execute intelligent contracts, as inefficient code becomes costly in certain applications such as microtransactions. Vyper, in this case, is logically similar to Solidity and syntactically similar to Python.

This v0.1.0-beta.1 from Vyper has three major improvements over previous languages verified by Blockgeeks. First, it is pointed out that many of the constructs known to programmers have been omitted. The pursuit of simplicity has eliminated the inheritance of classes, the overloading of functions, the overloading of operators and recursion, since none of them are technically necessary to create a Turing language.

Vyper aims for simplicity, but for Bitcoin Revolution

While the first listed improvements are all aimed at simplifying the language, the next steps will increase the complexity in which a Bitcoin Revolution review is needed. In the words of the Vyper developers:

“…will intentionally prohibit or complicate things if it is deemed appropriate for the purpose of increasing safety.”

Vyper was designed to be as similar as possible to Python, but is not yet a replacement for Python or Solidity, but a language that can be used when maximum security is required. For example, Smart Contracts, which contain metadata on the patient’s health.

Those who have already started to experiment with the language have mostly left positive reactions via Reddit. While some question the need for a different language to create intelligent contracts, others agree on the need to address security issues.

As one user wrote: “With all the crap being done in crappy intelligent contracts, I’m really glad nowadays that Ethereum supports a smaller language that focuses on readability and security.

Vyper was not created to replace Solidity, but to be used on the side, as it uses the same byte code to increase security. According to a recent study, more than 3,000 endangered contracts contain security gaps. Vyper has the potential to play an important role in the future of Ethereum.

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Avenue Capital Group: Bitcoin rises towards $40,000

One Avenue Capital Group executive stressed that he believes Bitcoin will surpass the 2017 highs. Mark Lasry claimed that the largest crypto currency continues to penetrate the mainstream and that the introduction of additional opportunities for traditional investors will help push the price to new highs

Hedge fund manager holds one percent of personal assets in Bitcoin

Mark Lasry was interviewed yesterday on CNBC’s Squawk Box. In the segment, the Moroccan-born hedge fund manager explained that the Bitcoin share price will reach a new high between 20,000 and 40,000 dollars. As reasons for his bullish forecast he cites the fact that Bitcoin is moving towards mainstream and there are more and more opportunities for traditional investors to enter the Bitcoin market.

Mark Lasry currently serves as CEO of Avenue Capital Group. The distressed debt investment company has impressive assets of $9.6 billion. He is also co-owner of the NBA team, the Milwaukee Bucks. Lasry makes no secret of his interest or investment in Bitcoin. He also told CNBC that he holds about one percent of his personal net assets in the most popular digital assets. The entrepreneur had already invested some years ago, but only in the last few months really increased.

Probably[my average purchase price] is between 5,000 and 7,500 US dollars.

Lasry was asked what he thought was the intrinsic actual value of Bitcoin. He simply replied: “I have no idea.” He was also asked how he felt about a government-backed digital currency. Lasry also stressed that he did not know whether a digital token issued by the US would replace the dollar, confirm Bitcoin or make it redundant. Finally, he defended his interest in the most successful digital currency to date as follows:

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