Winklevoss launching "Gemini" serving bitcoin to wall street on a golden plate - page 3.

gentlemand

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Welt Am Draht

Quote from: pa on January 23, 2015, 03:50:00 PM

Does the fact that the Winklevosses are setting up an exchange suggest that their ETF application is not going to be approved? A fully licensed and regulated exchange could serve as an on-ramp for institutional investors.

The exchange's existence would certainly help the ETF application. I can barely believe they sent it in with the state of exchanges as they were.

'There's this one somewhere in E Europe but no one knows who runs it. There's this one registered to a small box in the UK that got broken into the other day. Then, er, there's this Hong Kong one with some offshore Chinese account that's in Beta still and the only contact details are on email.'

pa

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Does the fact that the Winklevosses are setting up an exchange suggest that their ETF application is not going to be approved? A fully licensed and regulated exchange could serve as an on-ramp for institutional investors.

Melbustus

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Quote from: cypherdoc on January 23, 2015, 08:06:31 AM

Quote from: nakaone on January 23, 2015, 03:56:25 AM

if they do not fuck it up it is quite big news.

one of the most legimate critiques on bitcoin is the bottleneck problem, e.g. the point where the system interoperates with the fiat world.

this was up to this point valid, because you had to trust exchanges, which were run at best in a grey area of jurisdiction. these exchanges were almost solely responsible for the external price determination of bitcoin.

if they manage to reduce this problem they really strengthen the ecosystem of bitcoin.

Dead on man. Especially being a well funded New York exchange.

Let's hope they have lock down security.

Indeed. Toward that end, the bitcoin community should press them for:

1) Details about their hot/cold wallet management plans (to the extent that it's appropriate to divulge, obv)

2) A proof of reserve plan, in addition to whatever legacy audits BitLicensure requires

3) Multisig

4) Transparency (this is vague, but the more open they are in terms of addresses, dark/light pools, short/long interest, proof that they're not allowing naked shorting, etc, the better)

ThatDGuy

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Awesome news! Bitcoin starting to get exciting again!

Patel

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Quote from: BillyBobZorton on January 23, 2015, 02:18:11 PM

Can anyone explain me why are they coming up with yet another exchange? how are they going to get liquidity? i don't see the point. The point of the ETF was that people can dump stocks and get bitcoin, or sell bitcoins and buy stocks. This new, separated, exchange made no sense, there's already a toon of exchanges.

Maybe they were getting a hard time from the SEC about not having any high-volume regulated bitcoin exchanges in the USA, for the Bitcoin ETF.

Their own exchange will be a source for buying/selling coins for the ETF.

BayAreaCoins

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Owner at AltQuick.com

Quote from: BillyBobZorton on January 23, 2015, 02:18:11 PM

Can anyone explain me why are they coming up with yet another exchange? how are they going to get liquidity? i don't see the point. The point of the ETF was that people can dump stocks and get bitcoin, or sell bitcoins and buy stocks. This new, separated, exchange made no sense, there's already a toon of exchanges.

It's a good thing

Don't you worry your lil socks off!

BillyBobZorton

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Can anyone explain me why are they coming up with yet another exchange? how are they going to get liquidity? i don't see the point. The point of the ETF was that people can dump stocks and get bitcoin, or sell bitcoins and buy stocks. This new, separated, exchange made no sense, there's already a toon of exchanges.

medUSA

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--Signature Designs-- http://bit.ly/1Pjbx77

Quote from: knight22 on January 23, 2015, 12:31:17 AM

Tighten your seat belt, the ride is going to be wild Cool

https://blog.gemini.com/welcome-to-gemini/

I like the sound of this exchange. It is operated by well known businessmen in a country with developed regulations on accounting, audit and laws. The Winklevoss can sustain losses if exchange is hacked, and would not disappear. There would be no more wiring money to shady accounts to get fiat into an exchange. I have always believed we need a trusted exchange for bitcoin to prosper and this is going to be the start of a global mega exchange.

RodeoX

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The revolution will be monetized!

Thanks guys! It is about time we had this. And frankly, it is more compelling to me than an ETF.

Bit_Happy

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A Great Time to Start Something!

Since we have to be able to interact with the real (fiat) world, this is great news. I would also like to see more decent "Wild West" exchanges which build a good reputation, while being based in offshore locations.

tmfp

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"Common rogue from Russia with a bare ass."

Hands up who actually knows what an "ETF" is.

Winkdex lol.

stonerider

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I think NYTimes said the launch date was "later this year."

knight22

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--------------->¿?

Quote from: Patel on January 23, 2015, 12:23:53 PM

Quote from: Deadstock on January 23, 2015, 02:29:19 AM

When is the launch date for this?

I think I read somewhere like "as soon as the etf goes live" or "after bitlicense comes out"

I can't remember where or if I read that correctly.

This is also my understanding.

Patel

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Quote from: Deadstock on January 23, 2015, 02:29:19 AM

When is the launch date for this?

I think I read somewhere like "as soon as the etf goes live" or "after bitlicense comes out"

I can't remember where or if I read that correctly.

Morguk

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This is amazing!

trizma

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continue hodling guys
the roller coaster will be going up to levels never seen before
2015 won't disappoint Cool

_______________________________________________________________________________ __________________________________
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knight22

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--------------->¿?

Quote from: epilido on January 23, 2015, 09:58:22 AM

NASA had

Gemini --> Apollo --> Moon

Just remember that there were a bunch of rockets that blew up a few deaths along the way.

Yup, Challenger was indeed MtGox.

epilido

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NASA had

Gemini --> Apollo --> Moon

Just remember that there were a bunch of rockets that blew up a few deaths along the way.

okthen

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This is great!
Just on time for their talk at the ETF conference on Monday

ChuckBuck

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better everyday ♥

Wow good news! Bitcoin is coming from the seedy shady back alley underground currency to the mainstream, high profile tradeable by institutions currency!

I love it. Every little bit helps. Good job by the Winklevii in bringing Bitcoin to the masses, rather than the niche techie market.

Topic: Winklevoss launching "Gemini" serving bitcoin to wall street on a golden plate - page 3. (Read 8195 times)