Today in Bitcoin (2018-05-03) - Goldman Sachs to trade Bitcoin - Sell in May? Not Today.

Here's a summary of the "Today in Bitcoin" podcast episode from May 3, 2018:

1. Narrative Summary

This episode of "Today in Bitcoin" covered a range of topics surrounding Bitcoin and the broader cryptocurrency landscape. The podcast began with a price update, noting a slight increase. A major headline was Goldman Sachs' reported plans to establish a Bitcoin trading operation, which the host viewed as a sign of Bitcoin's growing influence. The episode then explored the potential for a price increase in May, referencing historical data and Fibonacci retracement levels. Beyond price analysis, the podcast criticized the proliferation of Initial Coin Offerings (ICOs) as scams and highlighted the importance of holding your own cryptocurrency rather than relying on third-party platforms like Coinbase. The episode also touched on Square's Bitcoin financials, London police seizing cryptocurrency from a hacker, and the cyclical nature of Bitcoin adoption. Overall, the podcast maintained a generally optimistic view of Bitcoin's future while cautioning listeners about scams and the importance of understanding the technology.

2. Main Topics Discussed

• Goldman Sachs Trading Operation: The announcement and its implications for the future of Bitcoin and traditional finance.
• May Price Action: Analysis of historical May performance and potential price movements (upside breakout to $10,000 or downside to $8,490).
• ICOs and Investment Scams: Criticism of ICOs and warnings about fraudulent schemes capitalizing on Bitcoin's popularity.
• Holding Cryptocurrency: The importance of self-custody and avoiding reliance on third-party platforms.
• Square's Bitcoin Financials: Discussion of Square's Bitcoin revenue and costs.
• Bitcoin Adoption Cycle: The "Bitcoin revelation cycle" – the stages people go through when first encountering Bitcoin.
• HCPP 18 Conference: Announcement of the last ticket sale and information about the conference.

3. Key Quotes

• "Bitcoin is coming for you, old banks, even the old banks named Goldman."
• "It is the people's currency."
• "ICOs are cancer."
• "Once again, it's not Bitcoin that's the scam. It's the people."
• "You can't just simply say, we have Bitcoin on account. You actually have to have them now."

4. People Mentioned

• Thomas Hunt: Host of "Today in Bitcoin"
• Panos: Mentioned for a previous prediction about Bitcoin's price.
• Alex: Corrected a statement regarding Bitcoin Cash vs. Bitcoin.

5. Bitcoin Price (as of May 3, 2018)

• Price: $9,568
• 24-Hour High: $9,580
• 24-Hour Low: $9,056
• Satoshi Equivalent: 1 Bitcoin = 10,444 Satoshis