HOUSE_OVERSIGHT_025677.jpg
1.06 MB
Extraction Summary
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People
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Organizations
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Locations
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Events
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Relationships
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Quotes
Document Information
Type:
Presentation slide / financial analysis
File Size:
1.06 MB
Summary
A Goldman Sachs Investment Management Division presentation slide discussing why Bitcoin is an unreliable unit of account. It uses the purchasing power of Bitcoin relative to Bosch dishwashers between January and November 2017 to illustrate 'severe deflation' of the currency, arguing that this volatility encourages hoarding rather than spending. The document bears a House Oversight Committee Bates stamp (HOUSE_OVERSIGHT_025677).
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Goldman Sachs |
Investment Management Division created the presentation
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| House Oversight Committee |
Implied by Bates stamp 'HOUSE_OVERSIGHT'
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| Bosch |
Products used as a unit of value comparison
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| Bloomberg |
Cited in footer
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| Cryptocompare.com |
Cited in footer
|
Key Quotes (2)
"Bitcoin’s rapid appreciation makes it an unsatisfactory candidate as a unit of account."Source
HOUSE_OVERSIGHT_025677.jpg
Quote #1
"In deflationary environments, people hoard their money in order to buy goods more cheaply at a later date, which has prompted most people to hoard their bitcoin."Source
HOUSE_OVERSIGHT_025677.jpg
Quote #2
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