Winklevoss twins look to legitimize Bitcoin with a regulated US exchange

botany

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Quote from: michaeladair on January 23, 2015, 09:36:58 PM

Quote from: toddtervy on January 23, 2015, 04:43:40 PM

That might be tough, the U.S. has very heavy regulations. Lets see if they can do it.

I usually can't take a sock puppet seriously but he HSS a point, the U.S. government is a bunch of sticklers when it comes to money. They'll probably find a way to make killings off of the exchanging of btc to USD...

With a regulated exchange, tracking people who fail to pay taxes on BTC profits will be easy.
The tax authorities would probably support this.

michaeladair

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Quote from: toddtervy on January 23, 2015, 04:43:40 PM

That might be tough, the U.S. has very heavy regulations. Lets see if they can do it.

I usually can't take a sock puppet seriously but he HSS a point, the U.S. government is a bunch of sticklers when it comes to money. They'll probably find a way to make killings off of the exchanging of btc to USD...

Brewins

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Quote from: oblivi on January 23, 2015, 09:02:49 PM

Quote from: minerpumpkin on January 23, 2015, 07:13:34 PM

Good, they're going all the way. I'm not from the US, but as I keep hearing, they're in need for some legit exchanges over there. At least it will good in terms of an increased competition. We need more good exchanges in order for Bitcoin to mature further.

Can you name what measures are they taking so they avoid a MtGox/Bitstamp/Bitifinex/ad infinitum disaster? Why will this time be different and it will not end really bad? I want to believe.

it will be regularized, like banks are.

I don't think further details will be given in short term because it is still in planning phase

oblivi

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Quote from: minerpumpkin on January 23, 2015, 07:13:34 PM

Good, they're going all the way. I'm not from the US, but as I keep hearing, they're in need for some legit exchanges over there. At least it will good in terms of an increased competition. We need more good exchanges in order for Bitcoin to mature further.

Can you name what measures are they taking so they avoid a MtGox/Bitstamp/Bitifinex/ad infinitum disaster? Why will this time be different and it will not end really bad? I want to believe.

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Good, they're going all the way. I'm not from the US, but as I keep hearing, they're in need for some legit exchanges over there. At least it will good in terms of an increased competition. We need more good exchanges in order for Bitcoin to mature further.

Gleb Gamow

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

Quote

So, why the name “Gemini”? After white-boarding a list of possible names for several weeks, we settled on Gemini for a host of reasons. Gemini is the Latin word for “twins” and as such, it inherently explores the concept of duality. We were drawn to this both because of the two worlds of money (old and new) that will intersect on the Gemini platform as well as the two-way nature of trade that it will facilitate. But that’s not all. Once we picked our name, a fun fact emerged. We realized that NASA’s Project Gemini was a spaceflight program focused on laying the groundwork for Apollo’s later mission to land man on the Moon. As such, it was coined (no pun intended) man’s “bridge to the moon”. In this spirit, we’ve built Gemini to be “your bridge to the future of money”. Oh, and Tyler and I just happen to be identical twin brothers.

"You eat twice as much as the Winklevoss twins combines, hence I'm the only one in this room that NASA's capable of sending to the moon. NASA would have to send a secondary rocket tailing your fat ass loaded up with farm goods from the Old Haney Place just to keep your current calorie intake at par. Speaking of par, even in zero gravity you still wouldn't be able to address either ball."

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Quote from: moriartybitcoin on January 23, 2015, 05:50:15 PM

more regulation lol just what bitcoin needs ...

I thought regulation wasn't a big problem anymore.
Adoption needs to be tackled before, or at the same time.

moriartybitcoin

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more regulation lol just what bitcoin needs ...

toddtervy

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That might be tough, the U.S. has very heavy regulations. Lets see if they can do it.

e1ghtSpace

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Quote

Tyler and Cameron Winklevoss think they have the answer to Bitcoin's rocky 2014 and tumbling value: a "fully regulated" Bitcoin exchange based in the United States. If Bitcoin is to break through as the frictionless payment method many believe it can be, it must evolve into "an ecosystem that is free of hacking, fraud and security breaches," wrote Cameron Winklevoss in a blog post announcing the Gemini exchange.

Quote

And US currency on Gemini will qualify for FDIC insurance, a measure that should have investors confident that funds will be "as safe and secure as they are in your bank account today."

Source: http://www.theverge.com/2015/1/23/7878351/winklevoss-gemini-bitcoin-exchange

So, who's ready for the price to rise again?

Topic: Winklevoss twins look to legitimize Bitcoin with a regulated US exchange (Read 650 times)