Topic: Winklevii are stalling Gemini until halving draws closer. (Read 930 times)
They certainly have waited so long that I have lost all interest.
This way they will have the highest change of launching and seeing a increase in price and it will look like they are the cause. Investors will then flood to the ETF launched at a later date.
If its sounds like speculation and feels like speculation it probally is.
That said it makes sense in the view that if timing a new asset to coincide with a significant Bitcoin event triggers potential upside volatility and is near your release day then take advantage of it.
As this appears to be speculation, allow me to propose another speculation. They are waiting for NY to approve their bitlicense application.
Does anybody have the knowledge of how long it took itbit to get their application approved for ETA comparison purposes?
I believe Itbit have a banking charter which is a different type of regulation and a much higher level than the bitlicence and one that already existed.
Not sure how long it took but it would've been a rigourous process and one that allows them to operate in all states. Maybe Gemini is going for something similar.
Keep in mind it could also be that ItBit is not a domestic US corporation. They are ran out of Singapore and they have a foreign corporate status in the US, with their corporate status jurisdiction in Singapore. The winks being a domestic US corporation could have a lot more requirements and licenses to meet.
This way they will have the highest change of launching and seeing a increase in price and it will look like they are the cause. Investors will then flood to the ETF launched at a later date.
I wouldn't be so sure in your claims. To launch something that they want to launch is very complicated and expensive, especially in the US. We just need to be more patient because when their ETF launches, this will be something like recognizing bitcoin as completely legal which will give investors huge confidence.
I just hope they do launch eventually since with the things like this, something can always go wrong.
I guess Gemini still cant open this year
This way they will have the highest change of launching and seeing a increase in price and it will look like they are the cause. Investors will then flood to the ETF launched at a later date.
unless you have factual evidence you should at least phrase this as a question. More like, why are they stalling? Are they stalling?
Promoting robust debate is good, however promoting conspiracy theories as fact is not.
As mentioned above, I think red-tape would be the primary reason.
I guess they've done some marketing research and found out their company would not be as profitable, or as successful as they hope, so they've chosen to wait. With BTC on a downward trend these days, everybody waits for the halving to reverse that. That should be fine with me, but that's nearly a year away!
If Winklevii want to claim percentage fees from every bitcoin transaction then waiting for higher bitcoin price is understandable. However it does not matter for a exchange which operates on flat fees.
I know that Gemini will be based in New York City. I think rather that waiting for the halving they are maybe waiting for state law to be changed to more appealing, since that terrible Bitcoin Regulations...
I know that Gemini will be based in New York City. I think rather that waiting for the halving they are maybe waiting for state law to be changed to more appealing, since that terrible Bitcoin Regulations...
As this appears to be speculation, allow me to propose another speculation. They are waiting for NY to approve their bitlicense application.
Does anybody have the knowledge of how long it took itbit to get their application approved for ETA comparison purposes?
I believe Itbit have a banking charter which is a different type of regulation and a much higher level than the bitlicence and one that already existed.
Not sure how long it took but it would've been a rigourous process and one that allows them to operate in all states. Maybe Gemini is going for something similar.
This way they will have the highest change of launching and seeing a increase in price and it will look like they are the cause. Investors will then flood to the ETF launched at a later date.
As this appears to be speculation, allow me to propose another speculation. They are waiting for NY to approve their bitlicense application.
Does anybody have the knowledge of how long it took itbit to get their application approved for ETA comparison purposes?
This way they will have the highest change of launching and seeing a increase in price and it will look like they are the cause. Investors will then flood to the ETF launched at a later date.
Or they can buy for 10mil$ of bitcoins on different exchanges (few days before the Gemini lunch) and boost the price up. They would get those 10mil$ back with fees in 5-6 months and still have bitcoins.
Effect would be more or less the same.
why would they wait?
They will gain more money in terms of a lower bitcoin price if they were to launch now rather than later...
They will gain more money in terms of a lower bitcoin price if they were to launch now rather than later...
They make fees whatever the price is doing. Why would you deny yourself the best part of a year's business? No doubt they're burning up a lot of cash and would like to get some back.
This ^^
The only thing holding up Gemini is red tape, I bet the twins are desperate to open for trading. There will be so many hoops to jump through to get Gemini approved. You can't just open a regulated trading platform on a whim. If anything I bet they want Gemini approved before the halving. That'll give them two guaranteed pumps then.
They make fees whatever the price is doing. Why would you deny yourself the best part of a year's business? No doubt they're burning up a lot of cash and would like to get some back.
I've been waiting for this for literally ages ago, I still have my hopes up, they've been doing a good job in the speeches. In one speech tho, one of the Winklevii mentioned they used a brainwallet lol. I think it was this one:
https://www.youtube.com/watch?v=ea4LKF59l2U
https://www.youtube.com/watch?v=ea4LKF59l2U
Exactly what are you basing this on? If you do not have concrete evidence then this is just speculation and possibly FUD. I know that most people are very impatient and we've been waiting for Gemini for quite some time, however that is no reason to think that they are stalling for the wrong reasons.
Besides, they do not need that. Once the price goes up exponentially again they will have a lot of value due to the amount of coins that they own.
Besides, they do not need that. Once the price goes up exponentially again they will have a lot of value due to the amount of coins that they own.
This way they will have the highest change of launching and seeing a increase in price and it will look like they are the cause. Investors will then flood to the ETF launched at a later date.
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