Goldman Sachs to clear bitcoin futures: spokeswoman

[Eugene]

Source: Reuters

#BUSINESS NEWS DECEMBER 7, 2017 / 5:00 PM / UPDATED 7 MINUTES AGO

Goldman Sachs to clear bitcoin futures: spokeswoman

Reuters Staff
1 MIN READ

NEW YORK (Reuters) - Goldman Sachs Group Inc. (GS.N) is planning to clear bitcoin futures for some clients as the new contracts go live on exchanges in the coming days, a spokeswoman for the bank said on Thursday.

The bank, which helps clients buy and sell derivatives, is “evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process,” Tiffany Galvin, the Goldman Sachs spokeswoman said.

Reporting by Anna Irrera; editing by Diane Craft

https://www.reuters.com/article/us-bitcoin-futures/goldman-sachs-to-clear-bitcoin-futures-spokeswoman-idUSKBN1E1333

[Cicada]

1. Would this reduce the environmental damage of bitcoin mining?

I was amazed to learn about the huge amount of energy needed to run computers which “mine” bitcoins. Maybe derivatives tied to the value od a bitcoin would lower the energy consumption?

As to value: won’t the ever increasing alternatives to bitcoin lower demand and price?

[JNelson6563]

2. All good questions

But I think the answer in most cases is "time will tell". Uncharted territory and all that.