HOUSE_OVERSIGHT_025676.jpg
1.17 MB
Extraction Summary
1
People
8
Organizations
0
Locations
0
Events
1
Relationships
5
Quotes
Document Information
Type:
Presentation slide / financial analysis report
File Size:
1.17 MB
Summary
A Goldman Sachs Investment Management Division presentation slide (page 13) analyzing Bitcoin's inefficiency as a currency. The document argues that Bitcoin has high transaction fees (~$3.40), slow processing times, and low merchant acceptance compared to Visa/Mastercard, while also noting IRS tax implications. The document bears a House Oversight Committee Bates stamp (025676), suggesting it was part of a larger document production to Congress.
People (1)
| Name | Role | Context |
|---|---|---|
| Daniel Heller | Author/Researcher |
Cited in footnote as author of 'Do Digital Currencies Pose a Threat to Sovereign Currencies and Central Banks?'
|
Organizations (8)
| Name | Type | Context |
|---|---|---|
| Goldman Sachs |
Investment Management Division created the presentation
|
|
| Visa |
Used as a benchmark for transaction speed and acceptance
|
|
| MasterCard |
Used as a benchmark for transaction speed and acceptance
|
|
| IRS |
Internal Revenue Service mentioned regarding tax implications of crypto
|
|
| PIIE |
Peterson Institute for International Economics (associated with Daniel Heller)
|
|
| Bloomberg |
Listed as a source for the data
|
|
| Cryptocompare.com |
Listed as a source for the data
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| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'
|
Relationships (1)
Goldman Sachs cites Heller's paper in footnote 1.
Key Quotes (5)
"Bitcoin is an Inefficient Medium of Exchange"Source
HOUSE_OVERSIGHT_025676.jpg
Quote #1
"Processing is expensive. The average transaction cost is ~$3.40"Source
HOUSE_OVERSIGHT_025676.jpg
Quote #2
"Processing is slow. Transaction processing typically takes a minimum of 10-20 minutes, but can take up to 18 hours"Source
HOUSE_OVERSIGHT_025676.jpg
Quote #3
"Bitcoin is not broadly accepted."Source
HOUSE_OVERSIGHT_025676.jpg
Quote #4
"A mere 9k merchants accept bitcoin, compared to the 37mil that accept Visa and MasterCard"Source
HOUSE_OVERSIGHT_025676.jpg
Quote #5
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