As cryptocurrency volatility continues, Steve Strongin, Charlie Himmelberg and Jeff Currie of Goldman Sachs Research reaffirm their cautious stance on the long-term viability of bitcoin and other first-generation cryptocurrencies. "This should be a battle of the best technology, and instead it seems to be a common wave of enthusiasm," says Strongin, head of GS Research, of the buzz surrounding the first generation. "Certainly these technologies offer some promise, but on the other hand, when you think about how much they will need to change to meet that need, you realize…how different those future generations are going to be." This podcast was recorded on April 10, 2018. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2018 Goldman Sachs & Co. LLC. All rights reserved.