Topic: Gemini's launch and impact on Bitcoin price (Read 5200 times)

If Gemini prove themselves to be a decent conduit that people can use to move sizeable amounts through, then that would be positive, but I don't see why it would impact the price on it's own that much (maybe upwards a little).

We need use cases that have been fully developed to show the real value of the concept, and that will take time to see how it pans out.  I'm thinking multiple years at least.

The scope of its (Gemini) user base on a world wide view needs to be a lot more to impact the market in a significant way.  USA is only 5% of the world population, and if they only have access to half of the states at the moment, then changes will not be that significant from an individual users point of view.  Maybe institutional investors could skew that a little, but I think most would just test the waters for a while before going in with both feet perhaps, sometime in the future.

Yes it's always the same. People have no patience.Everything must happen quick. But here in this space this won't work out well.
Let them complain.If they will not learn that things need time to evolve they will leave the playground.

people here only look for quick profits. they don't see that an exchange can't generate thousands of bitcoins worth of volume on just day 1.

wow guys give the exchange a chance

come back and look in 12 months, instead of 12 hours

There's no doubt that the recent rise to 248 is in some part due to Gemini. Problem is many people here expected a rocket to the moon and it didn't happen. Now, most people have moved on to either the ETF or the next halving. They will be sorely disappointed again when their expected rocket doesn't materialize. Greedy people shall find out their greediness has killed the golden goose.

no because if bitcoin, is growing only because of these guys, we are doomed anyway

it should be used as a currency first not as a trading tool for manipulators

Right now Gemini is following the price of the other exchanges fairly well considering its lack of liquidity. I think that's very positive. That will facilitate more interest and volume over time.

Also, the fact that the price hasn't moved much on the other exchanges since trading began on Gemini leaves little reason for a lot of volume to show up on a brand new exchange anyways.

All the people spouting crap about how it is a failure seem pretty pathetic to me. Nothing better to do?

That is the problem we are here often facing. People show absolutely no patience! everything has to happen quick.
But this is not how a solid business and solid price of Bitcoin can thrive.
I believe in a time period of 6-12 months Gemini can have an influence in price. Even more when the ETF is in the game.

Agreed. If it was still that level of volume after one month it would be a reason for concern

Winklevoss twins are a flop; Gemini is a flop; ETF will be a flop. Flop, flop, flop. Does that make bitcoin a flop too?

Now the investor should trusth on BTC
its a new step, keep calm guys

There will be simple positive impact on the price but let the exchange be fully functional give it little time to see the results.We can not judge anything in few hours or few days after its launching.I see it positive anyway for Bitcoin on long term.

What on earth are you expecting after hardly a day? People didn't even had a chance to fund their accounts yet, and it is currently severely limited to several states in the USA as well.

Things take a little time to get of the ground..

I don't know mate, although I can agree with you that in every market, especially new market there is and there was many manipulations, speculations, etc, I think that you can go just about the certain level with all of this. 

Everything in life is about balance. I even argued that allegedly Willy the bot that was running on Mt. Gox has helped us a lot, but imagine if we had another 5 bots like this. We would become a joke. It's OK to do everything up to the certain level but after some time, we have to become at least a bit serious to be taken seriously. It's the same about pump and dumps.

it's simple for me:

Coinbase opened their exchange today to Texas residents, but Gemini is not available yet.
No go.

With so many people expecting Gemini pump, that was just never going to happen

Liquidity also seems to be pretty thin. The volume might be a function of that.

Money isn't magic, not even bitcoin. It doesn't grow on its own, Mike. Don't buy into the whole "just buy my bitcoins, keep them in cold storage, and, after a few years of doing nothing? Hey presto! You're rich." thing. Where do you think the value of your bitcoin comes from, if not from the people who buy them from you? And why would they bother buying your coins, if you don't make them want to buy them?

And people will only want your coins if they think the coins will be worth more tomorrow, agree?

Well, making them think (the coins will be worth more later) is called "pumping," or "pimping." Pumping is hard work (as is pimping, which also ain't easy). It takes a well-coordinated, consorted effort by a large, multitalented crew, with all working as one towards one common goal: maximizing profit.  Successful pumps can go on for quite a while, and the dumping, when done skillfully, doesn't kill the pump--when done prudently, it's not even called dumping, but rather 'locking in profits.'

Re: "honest exchanges": People like to dump on the likes of Big Vern and MagicalTux, but they're the guys in the trenches, doing our dirty work, what needs to be done. They put us on the map. Without their able tutelage we'd be trading in the low single digits and mining with our CPUs.

Well I am glad people have forgotten how to make well-orchestrated pumps that will most definitely be followed by self-orchestrated dumps.

I believe that you can never have enough good, reliable, legit exchanges, especially after all of the exchanges fiascos that we had until now in history. So no, nobody is late for a party in my opinion!

Dumping is far less profitable without a well-orchestrated pump. People have forgotten that making money is hard work, expect to get rich by just waiting for it to happen.
No harm in rationalizing, I suppose. Missed opportunity is how I see it.