Bitcoin Exchanges: Amateur hour is over

pawel7777

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Quote from: N12 on January 25, 2015, 05:29:13 PM

People will feel much more comfortable sending money to regulated exchanges run by people who know what they're doing and backed by venture capitalists (remember that NYSE recently invested in Coinbase) with a big stake in Bitcoin. The amateur exchanges will either professionalize or be left in the dust.

In my view, this may well be the biggest news story in a long time.

This will be a game-changer. But both, Gemini and Coinbase will be limited to US only. So all the other 'amateur' exchanges will remain a decent market share and will have some time to re-think their long term strategies.

Bitstamp will be the one that have to adjust quickly. Wouldn't be surprised if they implement other fiat/crypto currencies. They won't last long with one BTC/USD pair.

NUFCrichard

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Quote from: myself on January 26, 2015, 05:35:37 AM

Code:

{"open":"246.12000000","high":"307.46000000","low":"245.32000000","volume":"1571.00011200"}

https://api.exchange.coinbase.com/products/btc-usd/stats

Trade will be important, and hopefully it isn't just moved from one exchange to another. We can't underestimate the good press that there is at the moment either though.
People are really talking about Bitcoin being the future and safe, instead of funny internet money for drugs and hackers!

myself

legendary

Activity: 938

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chaos is fun...…damental :)

Code:

{"open":"246.12000000","high":"307.46000000","low":"245.32000000","volume":"1571.00011200"}

https://api.exchange.coinbase.com/products/btc-usd/stats

BitCoinNutJob

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Quote from: N12 on January 25, 2015, 05:29:13 PM

With the advent of two professional exchanges by the Winklevosses and Coinbase (which opens up tomorrow), people will finally be able to trust Bitcoin exchanges not to scam them out of their money or do blatant inside trading.

People will feel much more comfortable sending money to regulated exchanges run by people who know what they're doing and backed by venture capitalists (remember that NYSE recently invested in Coinbase) with a big stake in Bitcoin. The amateur exchanges will either professionalize or be left in the dust.

In my view, this may well be the biggest news story in a long time.

Only takes 1 big whale to decide to pump bitcoin and we are off to the moon, great news imo. Wonder what bearwhale is thinking right now, hope he bought back in cheaper.

myself

legendary

Activity: 938

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chaos is fun...…damental :)

Quote from: Melbustus on January 25, 2015, 11:24:26 PM

Quote from: myself on January 25, 2015, 11:18:30 PM

Quote from: Melbustus on January 25, 2015, 08:27:30 PM

Quote from: myself on January 25, 2015, 08:19:34 PM

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:

Quote from: myself on October 27, 2012, 12:24:36 PM

...
the only positive aka price increase on the short term (1-2 years) will be a total stop of bitcoin production since that is not going to happen the effect will be negative

You missed the trade of a lifetime.

nope, u still dont get it a exchange i a heavy regulated country cant compete with a exchange in a less regulated country

Mellnik

sr. member

Activity: 242

Merit: 250

Quote from: Melbustus on January 25, 2015, 11:24:26 PM

Quote from: myself on January 25, 2015, 11:18:30 PM

Quote from: Melbustus on January 25, 2015, 08:27:30 PM

Quote from: myself on January 25, 2015, 08:19:34 PM

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:

Quote from: myself on October 27, 2012, 12:24:36 PM

...
the only positive aka price increase on the short term (1-2 years) will be a total stop of bitcoin production since that is not going to happen the effect will be negative

You missed the trade of a lifetime.

Owned & Pwned Wink

.

JamesBrown

member

Activity: 98

Merit: 10

now that coinbase exchange is probably 7hours away from being accessible form half the states how do you see this unfolding? How fast I mean?

Melbustus

legendary

Activity: 1722

Merit: 1004

Quote from: myself on January 25, 2015, 11:18:30 PM

Quote from: Melbustus on January 25, 2015, 08:27:30 PM

Quote from: myself on January 25, 2015, 08:19:34 PM

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:

Quote from: myself on October 27, 2012, 12:24:36 PM

...
the only positive aka price increase on the short term (1-2 years) will be a total stop of bitcoin production since that is not going to happen the effect will be negative

You missed the trade of a lifetime.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: Melbustus on January 25, 2015, 08:27:30 PM

Quote from: myself on January 25, 2015, 08:19:34 PM

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

freedomno1

legendary

Activity: 1806

Merit: 1090

Learning the troll avoidance button :)

Quote from: N12 on January 25, 2015, 05:29:13 PM

With the advent of two professional exchanges by the Winklevosses and Coinbase (which opens up tomorrow), people will finally be able to trust Bitcoin exchanges not to scam them out of their money or do blatant inside trading.

People will feel much more comfortable sending money to regulated exchanges run by people who know what they're doing and backed by venture capitalists (remember that NYSE recently invested in Coinbase) with a big stake in Bitcoin. The amateur exchanges will either professionalize or be left in the dust.

In my view, this may well be the biggest news story in a long time.

I agree with you on this one because honestly seeing so many exchanges collapse and also stock exchanges is really not a good sign for usage, with the recent virtex (not cavirtex) and egopay issues alongside mintpal vircurex mtgox and all these other giant failures, a regulated option seems like an inevitable choice we will need in order to ensure future development in Bitcoin.

ivyleague1985

newbie

Activity: 56

Merit: 0

Quote from: N12 on January 25, 2015, 05:29:13 PM

With the advent of two professional exchanges by the Winklevosses and Coinbase (which opens up tomorrow), people will finally be able to trust Bitcoin exchanges not to scam them out of their money or do blatant inside trading.

People will feel much more comfortable sending money to regulated exchanges run by people who know what they're doing and backed by venture capitalists (remember that NYSE recently invested in Coinbase) with a big stake in Bitcoin. The amateur exchanges will either professionalize or be left in the dust.

In my view, this may well be the biggest news story in a long time.

It is so happy to finally say good-bye to manipulative and unscrupulous Chinese exchanges.

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

It's good to see Americans get their own exchanges.

We Canucks have been spoiled for years with government-regulated Cavirtex.

cypherdoc

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Merit: 1002

Quote from: seleme on January 25, 2015, 06:08:12 PM

Quote from: BldSwtTrs on January 25, 2015, 06:07:07 PM

What about Buttercoin? They sounds like decently serious US exchange.

It's not about geography, it's about legitimacy of those that run it.

true but given the fact that the US has been by far the source of the vast majority of capital invested into Bitcoin, having our own exchange should not only perpetuate that fact, but accelerate it.

it's very bullish news for the US in general as it means we can take a center stage role in the development of Bitcoin.

oblivi

hero member

Activity: 700

Merit: 501

Im not sure if this is good, too much profesionalization leads to forex sharks rigging the price.. will they be able to do it with Bitcoin?

But then again, its sure better than Magic the Gathering collectors running the show.

jaberwock

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Merit: 1074

It alone is enough to make the last ATH appears ridiculous.

Hope it spread to the rest of the world

Melbustus

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Quote from: myself on January 25, 2015, 08:19:34 PM

dear OP: nope

OP is very likely correct.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

dear OP: nope

hector3115

sr. member

Activity: 481

Merit: 251

This is huge, the OP title says it all.

seleme

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Duelbits.com

Quote from: BldSwtTrs on January 25, 2015, 06:07:07 PM

What about Buttercoin? They sounds like decently serious US exchange.

It's not about geography, it's about legitimacy of those that run it.

criptix

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Merit: 1145

Quote from: oda.krell on January 25, 2015, 05:56:18 PM

Quote from: criptix on January 25, 2015, 05:34:34 PM

Bullish

That's not even the biggest part, in my opinion. "Bullish" implies it will increase market price by some amount. Sure, that's great.

But if it works out as intended, for traders it means their counter party risk will be drastically lower. That's huge. New classes of traders and/or investors will be able to join, that simply never had any interest in our little amateur market until now.⁽¹⁾

⁽¹⁾ Sidenote: that doesn't mean they will pump price straight up. That's not how the professionalization of trading works, not at all. But it *does* in all likelihood mean liquidity increases, volatility will (slowly, over time) decrease, and Bitcoin will become more useful as an all-around currency.

that is why i actually used the bigger size font, which happened so far like 3 times of my history here Grin

i agree that we wont necessarily see a pump in price but for the longterm it is definitly huge by all means.
it creates alot of safety for possible influx of money.

Topic: Bitcoin Exchanges: Amateur hour is over (Read 2685 times)