Gemini Exchange Moves Toward Launch With Twin NYDFS Approvals - page 2.

okae

legendary

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northern exposure

c'mon guys don't blame them just because it is taken so long, i really understand your frustration, i want this service now also Tongue

but im pretty sure that those twins are trying to bring it to us as fast as possible, but you guys should know how all those things are working, i mean really slow...

i hope that they open his service ( the day that it comes true ) with no restrictions, i mean that i dont want to see some restrictions for european people or something like that.

Mickeyb

hero member

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Move On !!!!!!

Quote from: Denker on October 04, 2015, 05:18:32 AM

To be honest I stopped following the twins closely when I realized that everytime you think the launch must be close and then the reality is it will take another few more months.
I will be happy when they open their doors and hopefully this will help to get new fresh money into the system and spreads adoption and usage.
But for now my big excitement and expectation is gone.

I wouldn't blame them. I think that they have the best intentions. It's the government, lawmakers and regulators. They can take as much time as they want and they have a great excuse, it's a new technology and it takes time.

Also this is the great way to stall us and to slow down the adoption of Bitcoin, of course if they want to do so. They can be doing it almost seamlessly.

Denker

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To be honest I stopped following the twins closely when I realized that everytime you think the launch must be close and then the reality is it will take another few more months.
I will be happy when they open their doors and hopefully this will help to get new fresh money into the system and spreads adoption and usage.
But for now my big excitement and expectation is gone.

NorrisK

legendary

Activity: 1946

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I would rather have them open sooner than later.. I think the twins will single handedly draw in the most capital to bitcoin ever just by opening this exchange.

Rule compliant and backed by known feel funded owners. Hardly a risk for investors.

poncho32

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Activity: 316

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Quote from: CoinBateman on October 04, 2015, 02:33:45 AM

Quote from: Chef Ramsay on October 03, 2015, 08:49:17 PM

Quote from: Preen on October 03, 2015, 08:20:18 PM

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.

CoinBateman

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Quote from: Chef Ramsay on October 03, 2015, 08:49:17 PM

Quote from: Preen on October 03, 2015, 08:20:18 PM

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.

Chef Ramsay

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Quote from: Preen on October 03, 2015, 08:20:18 PM

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.

gentlemand

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Welt Am Draht

My personal theory is that they want to make their parents proud by appearing to be doing exciting financial things when in reality they sit around playing video games all day while stringing along us chumps. I reckon they can drag it out for at least another five years.

Preen

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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.

CoinBateman

sr. member

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Sounds like a good step forwards on an extremely long process.

dloghwak

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Quote from: Lauda on October 03, 2015, 01:21:09 PM

Quote from: dloghwak on October 02, 2015, 12:47:35 PM

So launch in about two weeks ? Grin

Please read the thread before posting next time.

Quote

"This doesn't mean we're open for business. It's a formality, it's one step. It does not mean we can serve customers."

I doubt that we will see a launch 'very soon'. Sometime in 2016 is probable.

I read the thread. 3 Months ago they said in an interview, launch will be in about two weeks, I was obviously making fun off the next "soon".

Mickeyb

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Move On !!!!!!

Quote from: Febo on October 03, 2015, 01:28:14 PM

Quote from: Mickeyb on October 02, 2015, 06:49:26 AM

Quote from: spartacusrex on October 02, 2015, 03:47:47 AM

Is it just me, or is this whole Gemini / Bitcoin ETF thing taking FORRREVVEERRR...

It has literally been YEARS.

Is this the normal amount of time that someone needs to spend getting 'regulated' in the US ? Or are the twins just making it take ages.. ?

What happened to the Land of the Free.. (To do whatever you can, as long as we say you can )

( Regulation is a racket anyway. )

Yes it is taking forever, but this is how thing work in the US, and especially in the state of New York where you see what they did with the famous BitLicense thing. It's not surprising at all that it takes this much time. Bureaucracy is a b***h!

This is an awesome news though. Thanks OmegastarScream for sharing it! Slowly but surely we are getting there!

lol you should see some other countries. I dont think USA is famous by its birocracy, quite the opposite. Reality is that things in Normal world turns way slower then in Crypto world.

Yes you are right, France is for example worse bureaucracy wise then the US. Things here take twice as long and for finish everything, you need a stack of papers. I also noticed that there is no joking around in the US when it comes to money, questions about money, money licenses, etc. Over there everything has to be fair and square. In France on the other side, still many things can slide and go unnoticed.

Since the Gemini and ETFs are about the money, I am not surprised that all the regulations have to be followed in the US and that it takes this long.

LFC_Bitcoin

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#1 VIP Crypto Casino

The ETF is going to take a long time yet I fear. Looks like Gemini could finally be up & running soon though, hopefully no longer than a couple of months. We need some bullish news.

Febo

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Quote from: Mickeyb on October 02, 2015, 06:49:26 AM

Quote from: spartacusrex on October 02, 2015, 03:47:47 AM

Is it just me, or is this whole Gemini / Bitcoin ETF thing taking FORRREVVEERRR...

It has literally been YEARS.

Is this the normal amount of time that someone needs to spend getting 'regulated' in the US ? Or are the twins just making it take ages.. ?

What happened to the Land of the Free.. (To do whatever you can, as long as we say you can )

( Regulation is a racket anyway. )

Yes it is taking forever, but this is how thing work in the US, and especially in the state of New York where you see what they did with the famous BitLicense thing. It's not surprising at all that it takes this much time. Bureaucracy is a b***h!

This is an awesome news though. Thanks OmegastarScream for sharing it! Slowly but surely we are getting there!

lol you should see some other countries. I dont think USA is famous by its birocracy, quite the opposite. Reality is that things in Normal world turns way slower then in Crypto world.

Lauda

legendary

Activity: 2674

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Terminated.

Quote from: dloghwak on October 02, 2015, 12:47:35 PM

So launch in about two weeks ? Grin

Please read the thread before posting next time.

Quote

"This doesn't mean we're open for business. It's a formality, it's one step. It does not mean we can serve customers."

I doubt that we will see a launch 'very soon'. Sometime in 2016 is probable.

dloghwak

sr. member

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Merit: 250

So launch in about two weeks ? Grin

Mickeyb

hero member

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Merit: 1000

Move On !!!!!!

Quote from: spartacusrex on October 02, 2015, 03:47:47 AM

Is it just me, or is this whole Gemini / Bitcoin ETF thing taking FORRREVVEERRR...

It has literally been YEARS.

Is this the normal amount of time that someone needs to spend getting 'regulated' in the US ? Or are the twins just making it take ages.. ?

What happened to the Land of the Free.. (To do whatever you can, as long as we say you can )

( Regulation is a racket anyway. )

Yes it is taking forever, but this is how thing work in the US, and especially in the state of New York where you see what they did with the famous BitLicense thing. It's not surprising at all that it takes this much time. Bureaucracy is a b***h!

This is an awesome news though. Thanks OmegastarScream for sharing it! Slowly but surely we are getting there!

poeEDgar

sr. member

Activity: 299

Merit: 250

How long did it take for the Copper ETF to be approved? 2-3 years? Bitcoin should double or triple that, easy. New asset class and all. The SEC isn't known for being a fast mover. Cheesy

Lauda

legendary

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Terminated.

Quote from: spartacusrex on October 02, 2015, 03:47:47 AM

Is it just me, or is this whole Gemini / Bitcoin ETF thing taking FORRREVVEERRR...

It has literally been YEARS.
Is this the normal amount of time that someone needs to spend getting 'regulated' in the US ? Are are the twins just making it take ages.. ?

It is taking a very long time indeed. However, if it launches properly and it is fully regulated then we can expect Bitcoin to take off. Essentially ETFs take a good amount of time to get created, however this is taking a bit more. The first time that the ETF was mentioned was 2-3 years ago I believe.

Quote from: spartacusrex on October 02, 2015, 03:47:47 AM

What happened to the Land of the Free.. (To do whatever you can, as long as we say you can )

Anyone that still believes that the US is 'the land of the free' is deluded.

This is actually very good news even though this does not mean that Gemini is ready to be used by customers. We will have to wait a while longer, so I'm hoping that we see results in the first quarters of 2016.

coinpr0n

hero member

Activity: 910

Merit: 1000

Looks like it's coming along, albeit slowly. I'm sure they already have their "banking partners" lined up so hopefully it won't take too long for the next step.

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