Bitcoin Forum

With the advent of two professional exchanges by the Winklevosses and Coinbase (which opens up tomorrow), people will finally be able to trust Bitcoin exchanges not to scam them out of their money or do blatant inside trading.

People will feel much more comfortable sending money to regulated exchanges run by people who know what they're doing and backed by venture capitalists (remember that NYSE recently invested in Coinbase) with a big stake in Bitcoin. The amateur exchanges will either professionalize or be left in the dust.

In my view, this may well be the biggest news story in a long time.

This is the best news I've heard in a very long time.  It's time for the current exchanges to shape up or GTFO

Would an influx of wealthy traders who can finally trust an exchange to handle hundreds of BTC in their account at a time mean that there are greater price swings?

Or would the resultant (presumed) rise in BTC value cause it to become more stable?

DID SOMEBODY SAY MOOON!?!?!?

In all seriousness though it's quite legitimising news.

Amen!

I've finally joined this forum because this news excites me

Can I sign up somewhere, to be first in line when they open?

2015 is the year of Bitcoin rebirth. It will be exciting to see what happens to volume and prices once the new exchanges are open.

That's not even the biggest part, in my opinion. "Bullish" implies it will increase market price by some amount. Sure, that's great.

But if it works out as intended, for traders it means their counter party risk will be drastically lower. That's huge. New classes of traders and/or investors will be able to join, that simply never had any interest in our little amateur market until now.<sup>(1)





(1)</sup> Sidenote: that doesn't mean they will pump price straight up. That's not how the professionalization of trading works, not at all. But it *does* in all likelihood mean liquidity increases, volatility will (slowly, over time) decrease, and Bitcoin will become more useful as an all-around currency.

as written in the winklevoss exchange.

one of the most legitimate critiques on btc is the bottleneck problem as the way btc interoperates with the fiat world.

having an exchange, which is trustable due to regulation minimizes this problem. we will probably see another group of traders and investors when this exchange lifts off.

These last few posts contain some good points and I'd like to add that regulation should shake off the blackmarket/drugs image associated with Bitcoin once the super rich get trading, perhaps making it more appealing to God-fearing, law abiding middle America.

People as Americans, I guess?

What about Buttercoin? They sounds like a decent US exchange.

that is why i actually used the bigger size font, which happened so far like 3 times of my history here  ;D

i agree that we wont necessarily see a pump in price but for the longterm it is definitly huge by all means.
it creates alot of safety for possible influx of money.

It's not about geography, it's about legitimacy of those that run it.

This is huge, the OP title says it all. 

dear OP: nope

OP is very likely correct.

It alone is enough to make the last ATH appears ridiculous.

Hope it spread to the rest of the world

Im not sure if this is good, too much profesionalization leads to forex sharks rigging the price.. will they be able to do it with Bitcoin?

But then again, its sure better than Magic the Gathering collectors running the show.

true but given the fact that the US has been by far the source of the vast majority of capital invested into Bitcoin, having our own exchange should not only perpetuate that fact, but accelerate it.

it's very bullish news for the US in general as it means we can take a center stage role in the development of Bitcoin.

It's good to see Americans get their own exchanges.

We Canucks have been spoiled for years with government-regulated Cavirtex.

It is so happy to finally say good-bye to manipulative and unscrupulous Chinese exchanges.

I agree with you on this one because honestly seeing so many exchanges collapse and also stock exchanges is really not a good sign for usage, with the recent virtex (not cavirtex) and egopay issues alongside mintpal vircurex mtgox and all these other giant failures, a regulated option seems like an inevitable choice we will need in order to ensure future development in Bitcoin.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:


You missed the trade of a lifetime.

now that coinbase exchange is probably 7hours away from being accessible form half the states how do you see this unfolding? How fast I mean?

Owned & Pwned ;).

nope, u still dont get it a exchange i a heavy regulated country cant compete with a exchange in a less regulated country

Only takes 1 big whale to decide to pump bitcoin and we are off to the moon, great news imo.  Wonder what bearwhale is thinking right now, hope he bought back in cheaper.

https://api.exchange.coinbase.com/products/btc-usd/stats

Trade will be important, and hopefully it isn't just moved from one exchange to another.  We can't underestimate the good press that there is at the moment either though.
People are really talking about Bitcoin being the future and safe, instead of funny internet money for drugs and hackers!

This will be a game-changer. But both, Gemini and Coinbase will be limited to US only. So all the other 'amateur' exchanges will remain a decent market share and will have some time to re-think their long term strategies.

Bitstamp will be the one that have to adjust quickly. Wouldn't be surprised if they implement other fiat/crypto currencies. They won't last long with one BTC/USD pair.