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Topic: ETA for the ETF? (and Gemini Exchange speculation) - page 5. (Read 21160 times)

sr. member
Activity: 442
Merit: 250
Since Circle got it yesterday... Can we expect the same for Gemini by end of the week? "Soon"  Cheesy
legendary
Activity: 952
Merit: 1005
--Signature Designs-- http://bit.ly/1Pjbx77
itBit has insurance covering clients' funds, does Gemini offer the same protection?
yes if they have kept to the original idea
 https://blog.gemini.com/welcome-to-gemini/

It reads: "We are also thrilled to announce that we have secured a banking relationship with a New York State-chartered bank. This means that your money will never leave the country. It also means that US dollars on Gemini will be eligible for FDIC insurance and held by a US-regulated bank. Your US dollars on Gemini will be as safe and secure as they are in your bank account today."

Sounds like only US dollars are covered and cryptos aren't  Undecided

Can I guess that Gemini will open tomorrow on Wednesday the 19th?

Just checked their Twitter (https://twitter.com/GeminiDotCom), no definite dates. If Gemini is due to open soon, they would have given a date. So, expect at least a month. The twins are simply building hype now (bored of it already).
legendary
Activity: 1442
Merit: 1186
Can I guess that Gemini will open tomorrow on Wednesday the 19th?  What a perfect time to launch, price is low so there's only one way to go, up!  Grin
sr. member
Activity: 442
Merit: 250
https://twitter.com/GeminiDotCom/status/633307506765352960

They should stop with that bullshit and finally open it.  Roll Eyes
legendary
Activity: 1321
Merit: 1007
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
I wonder where them becoming a trust leaves the possibility of margin trading. I'm pretty sure Itbit said they couldn't provide leverage because of the terms of their creation.
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
The exchange sideshow is on schedule, when can we expect the main attraction to come? ETF is what everyone is longing for! Yet we still have no updates for more than 6 months. It's mid August now, I think it won't be traded in 2015, have to wait until Q2 2016 the earliest, round about time of the next halving. I hope the synergy of these 2 events could take bitcoin to new highs.

I also expect this is what is going to happen.

I do think we are going to see a corrected submission of the S-1A that should include a very much needed update on the ecosystem especially in regards to the exchanges cited. Gemini, Coinbase, itBit, Bitstamp should replace Mt.Gox, btc-e, and the other suspects.

Unfortunately this might indeed delay things until 2016 but the potential for the halving and a subsequent launch of the ETF to coincide is very interesting.
hero member
Activity: 672
Merit: 500
The exchange sideshow is on schedule, when can we expect the main attraction to come? ETF is what everyone is longing for! Yet we still have no updates for more than 6 months. It's mid August now, I think it won't be traded in 2015, have to wait until Q2 2016 the earliest, round about time of the next halving. I hope the synergy of these 2 events could take bitcoin to new highs.
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
You can't really compare itBit and Gemini, they are two different beasts.
ItBit is a foreign corporation from Singapore with very little backing and even less hype.
Gemini is a domestic NY Corp with lots of backing from the bitcoin community and a ton of hype.

ItBit did their thing, they were a company nobody ever heard of and they slid in out of nowhere to become the first licensed BTC exchange in NY, too bad nobody uses them.

I'm afraid you are slightly misguided.

itBit was one of the first company in the sector to receive venture investement back in 2013. At that point they were indeed based in Singapore but the backers were far from insignificant (RRE, Canaan)

Since then they have headquartered in New York and successfully obtained a banking trust charter with sponsor from, amongst others, former FDIC chairman Sheila Bair. All while raising an additional 25$m series A from new & existing investors. That makes them legal in all states, not only NY.

They are, by all account, a very significant player in the industry with some of the most important names in finance backing them. Trading hasn't picked up much on their exchange but I expect they will eventually become a major force seeing they have an extremely competent and experienced team behind them.

You don't "slide in" into a NY bank charter trust license. This indicates serious commitment and connections within the existing financial world.  

So far the only thing Gemini has against them is exactly what you've said : hype but not much to show for it.
legendary
Activity: 1442
Merit: 1186
You can't really compare itBit and Gemini, they are two different beasts.
ItBit is a foreign corporation from Singapore with very little backing and even less hype.
Gemini is a domestic NY Corp with lots of backing from the bitcoin community and a ton of hype.

ItBit did their thing, they were a company nobody ever heard of and they slid in out of nowhere to become the first licensed BTC exchange in NY, too bad nobody uses them.
member
Activity: 115
Merit: 10
I think there will be interest in Gemini over itbit. Its all about name recognition and FOMO as much as fundementals.

I agree. Gemini has hardcore bitcoin supporters, the Winklevosses, behind it and have ties to the ETF. They seems more geared towards institutional investors than itBit. The name matters too, Gemini sounds much better than itBit.

itBit has insurance covering clients' funds, does Gemini offer the same protection?

yes if they have kept to the original idea
 https://blog.gemini.com/welcome-to-gemini/
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Any idea if brits using GBP will be able to use Gemini with competitive exchange rates? Or will access for grits remain poor? Obviously Gemini will use USD.

I doubt they've made any extra provision for Brits. Everything is US based.

I don't think it'll be a very practical option. Their banking system is third world. Transferring money all the way there is painful.
legendary
Activity: 952
Merit: 1005
--Signature Designs-- http://bit.ly/1Pjbx77
I think there will be interest in Gemini over itbit. Its all about name recognition and FOMO as much as fundementals.

I agree. Gemini has hardcore bitcoin supporters, the Winklevosses, behind it and have ties to the ETF. They seems more geared towards institutional investors than itBit. The name matters too, Gemini sounds much better than itBit.

itBit has insurance covering clients' funds, does Gemini offer the same protection?
sr. member
Activity: 406
Merit: 250
Any idea if brits using GBP will be able to use Gemini with competitive exchange rates? Or will access for grits remain poor? Obviously Gemini will use USD.
legendary
Activity: 910
Merit: 1000
A institutional investor had to sign up on there site first.  Then they just received that email from them to get the process started.  So institutional investors have started the process and will be trading.  To say it will be "zero" makes you seem like a troll.
member
Activity: 115
Merit: 10
I wonder how much institutional money is ready to enter the bitcoin economy with Gemini?


The same that entered itbit.

nada, zip, zilch, zero

Why are  institutional investors requesting early access then?

not sure they are getting "early' access to the actual marketplace - the winklevii post indicates more to being just early form filling so they can trade at the same time as the small guys. maybe I am wrong.

I think there will be interest in Gemini over itbit. Its all about name recognition and FOMO as much as fundementals.
legendary
Activity: 1321
Merit: 1007
I wonder how much institutional money is ready to enter the bitcoin economy with Gemini?


The same that entered itbit.

nada, zip, zilch, zero

Why are  institutional investors requesting early access then?

Gemini is the one requesting to get "institutional investors" to trade on their platform so they can make more revenue off of volume. Like every other exchange.
legendary
Activity: 910
Merit: 1000
I wonder how much institutional money is ready to enter the bitcoin economy with Gemini?


The same that entered itbit.

nada, zip, zilch, zero

Why are  institutional investors requesting early access then?
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