Topic: Gemini Exchange Moves Toward Launch With Twin NYDFS Approvals (Read 2196 times)
To prevent spam , I'am going to close this topic and let's continue discussion about this Exchange here : https://bitcointalk.org/index.php?topic=1201174.40
Wow that's the great news.
Like many other people, believes in Gemini exchange is to save bitcoin from the falling price. I also have belief on Winklevoss brothers, they will definitely will take bitcoin into moon. Lets watch how and what difference could make into bitcoin community as it is a long awaited exchange.
Like many other people, believes in Gemini exchange is to save bitcoin from the falling price. I also have belief on Winklevoss brothers, they will definitely will take bitcoin into moon. Lets watch how and what difference could make into bitcoin community as it is a long awaited exchange.
well....no. good news but it is not the ETF. maybe you are confused.
and for my part: i cant see a falling bitcoin price
big whoop...I get an email on this from them.....they are gonna open thurs oct 8th and the price goes up 2 bucks for btc
now if they annouced in the same email that they had gotten 'unapproved" btc price would have dropped imho about 50 bucks
go figure
with only price movement on bad news . say in 2016 I'm looking at 150 buck btc at the rate this seems to be working out ...at least from a real world press FUD point of view
Price wouldn't have dropped 50 bucks on "unapproved" e-mail. First, they would never send it like that and second, market was already factoring a scenario where it would take months more to release. Also, if other bitcoin companies got approved, gemini should have no problem at all to get it.
Wow that's the great news.
Like many other people, believes in Gemini exchange is to save bitcoin from the falling price. I also have belief on Winklevoss brothers, they will definitely will take bitcoin into moon. Lets watch how and what difference could make into bitcoin community as it is a long awaited exchange.
Like many other people, believes in Gemini exchange is to save bitcoin from the falling price. I also have belief on Winklevoss brothers, they will definitely will take bitcoin into moon. Lets watch how and what difference could make into bitcoin community as it is a long awaited exchange.
well....no. good news but it is not the ETF. maybe you are confused.
and for my part: i cant see a falling bitcoin price
big whoop...I get an email on this from them.....they are gonna open thurs oct 8th and the price goes up 2 bucks for btc
now if they annouced in the same email that they had gotten 'unapproved" btc price would have dropped imho about 50 bucks
go figure
with only price movement on bad news . say in 2016 I'm looking at 150 buck btc at the rate this seems to be working out ...at least from a real world press FUD point of view
Wow that's the great news.
Like many other people, believes in Gemini exchange is to save bitcoin from the falling price. I also have belief on Winklevoss brothers, they will definitely will take bitcoin into moon. Lets watch how and what difference could make into bitcoin community as it is a long awaited exchange.
Like many other people, believes in Gemini exchange is to save bitcoin from the falling price. I also have belief on Winklevoss brothers, they will definitely will take bitcoin into moon. Lets watch how and what difference could make into bitcoin community as it is a long awaited exchange.
well....no. good news but it is not the ETF. maybe you are confused.
and for my part: i cant see a falling bitcoin price
The twins won't be too late to launch this exchange for the big players. Maybe for us, it would rather have been yesterday, but I still think this will have a massaive impact on bitcoin investments from the big guys.
This opens the gates to VC and other money, and the Twins will use their connections to draw them in.
This opens the gates to VC and other money, and the Twins will use their connections to draw them in.
The gates have been wide open, and itBit has been there to welcome them with their NYDFS charter. Gemini just barely showed up.
Trust charter confirmed:
http://blogs.wsj.com/moneybeat/2015/10/05/bitbeat-winklevoss-twins-gemini-exchange-gets-trust-license/
edit:
To open on thursday
This thursday? I'm quite surprised because of the initial comments. I was expecting it in 2016. If they launch in 3 days and it gets media coverage we could be heading somewhere. Let's hope that everything works out as planned. http://blogs.wsj.com/moneybeat/2015/10/05/bitbeat-winklevoss-twins-gemini-exchange-gets-trust-license/
edit:
To open on thursday
Trust charter confirmed:
http://blogs.wsj.com/moneybeat/2015/10/05/bitbeat-winklevoss-twins-gemini-exchange-gets-trust-license/
edit:
To open on thursday
http://blogs.wsj.com/moneybeat/2015/10/05/bitbeat-winklevoss-twins-gemini-exchange-gets-trust-license/
edit:
To open on thursday
Quote
Gemini will be begin operations on Thursday. The exchange will allow customers to buy, sell, and hold bitcoins. Bitcoin deposits will be held in an offline vault; fiat deposits will be held with New York-based commercial bank Signature Bank. The exchange is open to both individual and institutional investors, but the twins are keenly focused on attracting institutional business.
I thought the ETF was meant to be ready for the end of 2014. In that time, someone else has beaten winklevoss to launching a bitcoin ETF.
Pretty sure the last quarter of 2015 is what they were mentioning and shooting for. We're just entering this quarter and things seem to be progressing.What is it stopping them from launching sooner? First mover advantage is now lost.
They have to get approval from a US government body called the securities and exchange commission (SEC)
This is where the hold up is... The government does not operate at the speed of private companies, if the wheels are not greased.
...Well that is how things operate in my country. If you want to push your request or application... you have to oil the palm. They obviously have to wait for the government to understand the issue, and play the waiting game.
They are still in front of other competition trying to do the same thing, so it's safe to say that they will be the first company to do this in NY.
The twins won't be too late to launch this exchange for the big players. Maybe for us, it would rather have been yesterday, but I still think this will have a massaive impact on bitcoin investments from the big guys.
This opens the gates to VC and other money, and the Twins will use their connections to draw them in.
This opens the gates to VC and other money, and the Twins will use their connections to draw them in.
So why were they beaten to market, there is already a Bitcoin ETF?
There's a tech ETF that holds 0.25% of its fund in Bitcoin. That's a rather different proposition.
I thought the ETF was meant to be ready for the end of 2014. In that time, someone else has beaten winklevoss to launching a bitcoin ETF.
Pretty sure the last quarter of 2015 is what they were mentioning and shooting for. We're just entering this quarter and things seem to be progressing.What is it stopping them from launching sooner? First mover advantage is now lost.
They have to get approval from a US government body called the securities and exchange commission (SEC) before they can launch the ETF. The SEC moves at a glacial pace and can take years to decide whether to grant or deny approval. There is nothing the twins can do to make the SEC speed up, they can only wait for its decision.
The Gemini exchange could open before the ETF but that still needs to wait untl it gets permission to open from some other regulators.
So why were they beaten to market, there is already a Bitcoin ETF?
There is nothing on the market that resembles anything on the scale of their proposed NASDAQ ETF.
I thought the ETF was meant to be ready for the end of 2014. In that time, someone else has beaten winklevoss to launching a bitcoin ETF.
Pretty sure the last quarter of 2015 is what they were mentioning and shooting for. We're just entering this quarter and things seem to be progressing.What is it stopping them from launching sooner? First mover advantage is now lost.
They have to get approval from a US government body called the securities and exchange commission (SEC) before they can launch the ETF. The SEC moves at a glacial pace and can take years to decide whether to grant or deny approval. There is nothing the twins can do to make the SEC speed up, they can only wait for its decision.
The Gemini exchange could open before the ETF but that still needs to wait untl it gets permission to open from some other regulators.
So why were they beaten to market, there is already a Bitcoin ETF?
SEC is known to be a slow department filled with red tape everywhere. Judging from the previous ETF's by various bigger companies, Gemini's actually on a pretty respectable timeframe.
no funds insurance??
now that just went from a legit investment company, to a MTGox clone... im guessing no one cares about the impact of not insuring deposits..
now that just went from a legit investment company, to a MTGox clone... im guessing no one cares about the impact of not insuring deposits..
That's pretty strange. If Itbit can do it, so can they.
They are leaving the fiat insurance to their prospective banking partners. As for the Bitcoins, I'm not sure how or if they intend to insure them. Bitcoin insurance must be a difficult proposition with the volatility inherant to Bitcoin. If they get an insurer to insure them and later Bitcoin shoots up in value would the insurer be prepared to pay their full value after a hack? Gemini might have to sue in that eventuality. Bitpay lost when it tried to sue its insurer after it was hacked, though it lost due to its own gross negligence.
no funds insurance??
now that just went from a legit investment company, to a MTGox clone... im guessing no one cares about the impact of not insuring deposits..
now that just went from a legit investment company, to a MTGox clone... im guessing no one cares about the impact of not insuring deposits..
That's pretty strange. If Itbit can do it, so can they.
They need to wake up and start getting this thing operative yesterday. I mean we've been waiting for what, years now? for a good exchange to arrive, and there's little time before people start refering to Gemini as some sort of vaporware thing. At this point im not sure if it will have any impact on the price at all. I just hope old money and traditional people with lots of dollars find an easy way to securely invest in Bitcoin with this.
I don't see why yet another exchange is such a big deal at all. Simply because it comes from two public figures it's no reinvention of the basic concept and there's no reason to believe it will be fundamentally better or more secure than the existing exchanges.
If you ask me, the twin are too late to the show to land a major success with their exchange. The same applies to their ETF, if it takes another 1-2 years to launch, because investment vehicles for Bitcoin will only be needed for a transition period until Bitcoin becomes mainstream and direct ownership will be the norm.
ya.ya.yo!
I wouldn't be so quick to dismiss the importance of connections. I think the Winklevoss confidence and part of the hype around their projects stems from the proposition that they have felt a strong interest from old money investors and they know "if they build it they will come". A fully compliant, institution friendly, exchange promising to become a source of liquidity for a NASDAQ trading ETF is something that will raise eyebrows.
You speak of "yet another exchange" but I'm curious what do you consider the competition to be? For an American-based institutional investor there's really no one but itBit & Coinbase. Then again, Coinbase being a Silicon Valley product I don't believe they are an appealing offering for NY pockets, yet.
So if you ask me, the twins are still very much on track to establish an household brand in the Bitcoin ecosystem and considering next year's halving they may do so with remarkable timing.
To be fair I've been under the impression that they were a little taken aback by itBit's charter announcement. Remember that back in the 1st quarter of this year they were up in the medias confident that the BitLicenses were the last working mile for launch of Gemini.
Then itBit's trust company charter happens in early may. Two months later we learn Gemini begins seeking approval for a similar charter.
My question is: if that was their plan all along why bother with the BitLicenses? From what I have gathered the trust status supersedes, at least to an important extent, the license.
I still trust that their projects will become centrepiece in Bitcoin's next ride but this one aspect raised a little doubt. I think they have the connections to make this thing work though. In fact I'm sure a lot of bigger players are now driving this venture from behind the scene.
Then itBit's trust company charter happens in early may. Two months later we learn Gemini begins seeking approval for a similar charter.
My question is: if that was their plan all along why bother with the BitLicenses? From what I have gathered the trust status supersedes, at least to an important extent, the license.
I still trust that their projects will become centrepiece in Bitcoin's next ride but this one aspect raised a little doubt. I think they have the connections to make this thing work though. In fact I'm sure a lot of bigger players are now driving this venture from behind the scene.
They need to wake up and start getting this thing operative yesterday. I mean we've been waiting for what, years now? for a good exchange to arrive, and there's little time before people start refering to Gemini as some sort of vaporware thing. At this point im not sure if it will have any impact on the price at all. I just hope old money and traditional people with lots of dollars find an easy way to securely invest in Bitcoin with this.
I don't see why yet another exchange is such a big deal at all. Simply because it comes from two public figures it's no reinvention of the basic concept and there's no reason to believe it will be fundamentally better or more secure than the existing exchanges.
If you ask me, the twin are too late to the show to land a major success with their exchange. The same applies to their ETF, if it takes another 1-2 years to launch, because investment vehicles for Bitcoin will only be needed for a transition period until Bitcoin becomes mainstream and direct ownership will be the norm.
ya.ya.yo!
They need to wake up and start getting this thing operative yesterday. I mean we've been waiting for what, years now? for a good exchange to arrive, and there's little time before people start refering to Gemini as some sort of vaporware thing. At this point im not sure if it will have any impact on the price at all. I just hope old money and traditional people with lots of dollars find an easy way to securely invest in Bitcoin with this.
no funds insurance??
now that just went from a legit investment company, to a MTGox clone... im guessing no one cares about the impact of not insuring deposits..
now that just went from a legit investment company, to a MTGox clone... im guessing no one cares about the impact of not insuring deposits..
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