Bitcoin Forum

Tyler Winklevoss: Gemini will have a positive effect on price of Bitcoin

Tyler Winklevoss, one half of the ownership of New York Bitcoin exchange Gemini, is hopeful its compliance conscious approach will provide an on-ramp to big blue chips and push up the price of Bitcoin.

He told IBTimes: "I think that if we can make good on our plan to build a great exchange that Wall Street can use, then I believe more institutional money that comes into Bitcoin and actually starts using it as a financial instrument should create positive price action."

http://www.ibtimes.co.uk/tyler-winklevoss-gemini-will-have-positive-effect-price-bitcoin-1523331

This is not going to happen very soon then , unless they decide to expand to worldwide or at least to Europe as a start  . because ONLY supprting USA aint going do much to the price .

It's good what they're doing. How many exchanges have been run under questionable practices? Not just Gox (extreme example) but almost every one has had some irregularities. Just when you think an exchange is legit suddenly you find out its run by one guy from his moms basement or they simply vanish without a trace... What straight world financier would want anything to do with any of them.

The winklvii may have made a deal with the devil by going legit regulated and public, but if they continue doing things the proper way and above board they could indeed attract the old boys who otherwise would never dream of getting into btc.

There's a reason for regulation and its to keep things honest... In theory anyways. Besides, would you rather deal with tools like mark karepeles?

Ok I will take him at his word.Let's see how it will play out the next 6-12 months. I think this is a timeframe we should see some action which could be credited to Gemini, especially when ETF is launched.

It's not a problem if it takes a bit of time to build up things and see that being reflected in the Bitcoin price. Slow but steady growth, I prefer it this way. As soon as they let other countries use their platform then it will be more widely used. They need market movers, but it is very hard to convince them to leave the current exchanges with the low volume currently of Gemini.

I hate it, but I have to agree with you... After the MtGox fiasco, people already have preconceived ideas about Bitcoin, and to offer them a perfectly legal option to enter the

market, could be the solution to bring in some of the big boys. It's a bit of a sacrifice, but it's the right move under the circumstances. We do not need another fly-by-night

operation like MtGox, spoiling the party for everyone.  ???

Gemini has no global potential as of now, it is local exchange limited only to US citizen.
With local capital and userbase restricted only to US citizens I highly doubt, that price of bitcoin will be affected by Gemini. Nothing changed so far.

Certainly doubt this will happen as bitcoin still seems to follow its long term down swing.

The US is sufficient to give the price a boost.
Institutional money is big money.

What baffles me is how they totally dropped the ball on having an active market on launch. You can't just create volume out of thin air and be credible, (hello Chinese exchanges!), but you CAN at least try to have specialists that are dedicated to making a market and executing trades. Their two day volume is hardly 70 BTC, and while I'm aware that it takes time to accrete a good order book, I would've thought that they would have had dedicated players before launch.

How did that meeting go, I wonder. "Hey guys, we've slogged through and done all of our due diligence for launching in the USA. Great, so how about populating the order book with active traders? Nah, lets figure that out later..."

Its just crazy - not even an incentive program like other stock exchanges that give big players discounts on fees just to have their orders on the order book. Did they consult anyone regarding running an exchange, outside the regulatory angle?

we'll see if that will happen. and if it does happen, then it surely will be in the long term as i can't see them changing the market that drastic.

Yes, I agree. We, the ordinary people have already enough exchanges to buy bitcoins at. We can live without Gemini. But bug players, Wall Street kind of players, people that need to know that their investment is well protected are the key here.

I think that this Gemini exchange will bring just this kind of people to the table. Of course, also this will take time. This won't happen overnight as many in our community have expected that Gemini will be an instant savior.