But the question becomes, would people who know about bitcoin in America really would want to use it?? I'm still on the fence about this whole thing, I would really not like to have some website that's indirectly controlled by the government to have all my personal information and know exactly how much I buy and what I buy it with... What good is that when bitcoin is supposed to be a "global cash unit"? The benefits of bitcoin in the beginning was that it was to have the benefits of cash, without the inflation... now the whole thing is just becoming sketchy to me.
It still has all those benefits - Gemini isn't going to fundamentally change what BTC is.
For me, Gemini opening is like US (institutional and private) investors having access to Luxembourg funds managed by a US asset management firm - there's nothing to stop little people (us) dealing direct with Luxembourg firms (or buying European stocks directly), but for larger investors it gives the comfort and security of dealing with a firm headquartered in the US. (I picked Luxembourg because it seems to be where US big finance sets up funds, even if their European bases tend to be in other European cities, but I could probably have used Singapore, Tokyo, Hong Kong etc as examples too).
I think that this is why Gemini will mostly be a failed launch. It's just too late to offer the things that it has to offer. Gemini would have had hope if it would have launched near the 2013 goxcoin driven rally. Then there were some people in larger financial firms, that didn't quite understand the financial mechanics of bitcoin yet, so they basically just panic bought. During this time Gemini would have attracted more buyers who would have weight to throw around. Now, in the financial world, bitcoin and it's buyers are a joke. Only thing that is taken seriously is the implementation of the blockchain technology to more practical applications then bitcoin the currency.
Now the only potential greater fools can be found among the average Joes, who don't operate inside the financial information sphere and who could be tricked with the same promises of easy riches as it was done before. So, if bitcoin wants some new money, then back to pumping and dumping and publishing articles how "bitcoin could make you filthy rich!!".
