Bitcoin Exchange Gemini Approved for Launch in New York

[Pathi]

DONT TRUST THIS EXCHANGE!!!

I DEPOSIT 50BTC AND THEY MASSIVE SCAM KEPT ALL MY BTC SAYS I PUT 0 IN BUT THEY LIE DONT TRUST THEM!

Errr, I don't think they open for 3 more days??

[intristin]

Just got my invite code, it includes the list of states that can use it...

Hello from your friends at Gemini!

You have been granted early access to onboard to Gemini, a licensed and regulated bitcoin exchange in the United States. You can now fund your account in preparation for trading. Gemini will officially open for trading on Thursday, October 8th at 9:30 AM EDT.

To sign up, please go to Gemini.com, click the "Register" button and enter your unique invite code:

#########

Gemini is currently operational in the following US states:

California
Colorado
Delaware
Florida
Idaho
Indiana
Kansas
Kentucky
Louisiana
Maryland
Michigan
Minnesotta
Mississippi
Missouri
Montana
New Hampshire
New Mexico
New York
North Carolina
Ohio
Rhode Island
South Carolina
Tennessee
Utah
Vermont
Washington, D.C.
Wyoming

We are working hard with regulators to open in other states and other countries around the world. If you live in a state or country where we are not yet operational, please feel free to continue the registration process and we will notify you once we are open for trading in your area.

Welcome aboard,

Team Gemini

[chennan]

So I forgot that I "pre arranged" me to set up my account and got an email just now to setup my account... so I was looking through the user agreement terms, and it seems they give quite literally ALL your information to the government to keep track of you and your purchases and everything else.  They also do background checks and possibly everything else to invade your privacy... I don't like this, did any one else see this?

[Enjorlas]

So I forgot that I "pre arranged" me to set up my account and got an email just now to setup my account... so I was looking through the user agreement terms, and it seems they give quite literally ALL your information to the government to keep track of you and your purchases and everything else.  They also do background checks and possibly everything else to invade your privacy... I don't like this, did any one else see this?

HAHAHAHAHAHAHAHAHAHAH

OH BOY!

That's what you all wanted isn't it? A 'Regulated' exchange. This is what regulated means folks. If you don't want regulation use one of the other hundreds of ways to trade bitcoin.

[Lauda]

So I forgot that I "pre arranged" me to set up my account and got an email just now to setup my account... so I was looking through the user agreement terms, and it seems they give quite literally ALL your information to the government to keep track of you and your purchases and everything else.  They also do background checks and possibly everything else to invade your privacy... I don't like this, did any one else see this?

Did you honestly expect that they could have gotten such an approval in any other way? People need to stop living in fairy tales. Nobody is forcing you to use this exchange in particular.

[chennan]

So I forgot that I "pre arranged" me to set up my account and got an email just now to setup my account... so I was looking through the user agreement terms, and it seems they give quite literally ALL your information to the government to keep track of you and your purchases and everything else.  They also do background checks and possibly everything else to invade your privacy... I don't like this, did any one else see this?

Did you honestly expect that they could have gotten such an approval in any other way? People need to stop living in fairy tales. Nobody is forcing you to use this exchange in particular

I didn't really read into it as much when I wanted to be notified when they launched.  I don't live in any fairy tales, when it comes to regarding my information.

If anyone else on here is curious to read, you can find it here:

https://exchange.gemini.com/user-agreement

As for now, I'm just going to hold back from signing up and see what other people say about the sign up process... I'm in no way going to be the "test group" in giving out personal information.

[intristin]

 I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

[chennan]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Yeaaaaa... see? I'm not giving my SS # to any bitcoin related enterprise... I hope nothing bad happens to you man, I will be monitoring this though; I just don't see a large majority of bitcoin users to go flocking here if you have to give such personal information out readily.

[Slark]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Quite a lot of personal information if you ask me. You are no longer even pseudo anonymous when using bitcoin and using Gemini.
The fact that your information will be given to IRS if you reach some money threshold of sold bitcoin is not that assuring either.

[NorrisK]

Really awesome! Can't wait to try this exchange out Have freed some funds up from different exchanges to move here!

Really interesting to see what the volume will do and if this is the boost we needed price wise.

[julian071]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Quite a lot of personal information if you ask me. You are no longer even pseudo anonymous when using bitcoin and using Gemini.
The fact that your information will be given to IRS if you reach some money threshold of sold bitcoin is not that assuring either.

Well if you're looking for a way to avoid taxes by using bitcoin, you shouldn't have qualms about dealing with less then trustworthy people, e.g. Cryptsy and friends. That means losing your btc once in a while.

This libertarian idea of being free of any form of regulation (and taxation) by using btc is just a pipe dream. You libertarians choose the wrong solution to your problem. If you don't trust your government then elect other people, and if there are no good people to elect in your two-party system, maybe you should think about backing a third party or starting a fourth.

[Preen]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Quite a lot of personal information if you ask me. You are no longer even pseudo anonymous when using bitcoin and using Gemini.
The fact that your information will be given to IRS if you reach some money threshold of sold bitcoin is not that assuring either.

Well if you're looking for a way to avoid taxes by using bitcoin, you shouldn't have qualms about dealing with less then trustworthy people, e.g. Cryptsy and friends. That means losing your btc once in a while.

This libertarian idea of being free of any form of regulation (and taxation) by using btc is just a pipe dream. You libertarians choose the wrong solution to your problem. If you don't trust your government then elect other people, and if there are no good people to elect in your two-party system, maybe you should think about backing a third party or starting a fourth.

Good points. Really, the regulation is there to protect investors at the end of the day.

[intristin]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Yeaaaaa... see? I'm not giving my SS # to any bitcoin related enterprise... I hope nothing bad happens to you man, I will be monitoring this though; I just don't see a large majority of bitcoin users to go flocking here if you have to give such personal information out readily.

I don't think this exchange is meant to appeal to the bitcoin community, it's meant to appeal to Wall Street types. And since it's regulated by the government, I'm not too worried about the information I gave up, I mean Citibank has the same info about me and is regulated by the same government oversight and nothing bad has happened to me so far. All the money deposited to this site will be held in a FDIC insured bank, including from what I understand, the bitcoins themselves, in some kind of cold storage vault. That's what the NYT article I read said anyway. The point I think is to make the big investors feel safe. After what happened to Mt Gox, noone on Wall Street is going to touch an unregulated exchange, but this one, they very well might. And if they do, the price of Bitcoins will most likely go up.

[chennan]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Quite a lot of personal information if you ask me. You are no longer even pseudo anonymous when using bitcoin and using Gemini.
The fact that your information will be given to IRS if you reach some money threshold of sold bitcoin is not that assuring either.

Well if you're looking for a way to avoid taxes by using bitcoin, you shouldn't have qualms about dealing with less then trustworthy people, e.g. Cryptsy and friends. That means losing your btc once in a while.

This libertarian idea of being free of any form of regulation (and taxation) by using btc is just a pipe dream. You libertarians choose the wrong solution to your problem. If you don't trust your government then elect other people, and if there are no good people to elect in your two-party system, maybe you should think about backing a third party or starting a fourth.

Well, there are still a lot of people who support the libertarian ideals... these supporters, including me, have supported Ron and Rand Paul; but the media always do not take what they say seriously at all and they kind of mock them in a way.  I even helped organize some of the Rand Paul events in my area, but the truth is, is that even though you do everything to get your politician of choice to start making a change in the world, doesn't always mean that they are going to be elected... especially if they pose a real change to the status quo of Washington in general...

And to say that there is a realistic chance that backing a third or fourth party to win a nomination is a pretty optimistic view on politics... The fact is is that a majority of people stick to their political ideologies and their "party" no matter if they lock the nominee or not; has to do a lot with people pride in America.

[julian071]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Quite a lot of personal information if you ask me. You are no longer even pseudo anonymous when using bitcoin and using Gemini.
The fact that your information will be given to IRS if you reach some money threshold of sold bitcoin is not that assuring either.

Well if you're looking for a way to avoid taxes by using bitcoin, you shouldn't have qualms about dealing with less then trustworthy people, e.g. Cryptsy and friends. That means losing your btc once in a while.

This libertarian idea of being free of any form of regulation (and taxation) by using btc is just a pipe dream. You libertarians choose the wrong solution to your problem. If you don't trust your government then elect other people, and if there are no good people to elect in your two-party system, maybe you should think about backing a third party or starting a fourth.

Well, there are still a lot of people who support the libertarian ideals... these supporters, including me, have supported Ron and Rand Paul; but the media always do not take what they say seriously at all and they kind of mock them in a way.  I even helped organize some of the Rand Paul events in my area, but the truth is, is that even though you do everything to get your politician of choice to start making a change in the world, doesn't always mean that they are going to be elected... especially if they pose a real change to the status quo of Washington in general...

And to say that there is a realistic chance that backing a third or fourth party to win a nomination is a pretty optimistic view on politics... The fact is is that a majority of people stick to their political ideologies and their "party" no matter if they lock the nominee or not; has to do a lot with people pride in America.

I know, good points. It's not easy changing things. But it's doable, just look at history. It's admirable you actually helped organizing.  

I also know from experience, I work for my local socialist party (not kidding here), and we managed to really change important things, like getting rid of bureaucracy in care for elderly trying to live at their own home for as long as possible, and care for young people in trouble. We let the professionals do their job and we implement stuff like "one family, one plan" instead of organising things around either the instutions or the money. In the end it works much better for all concerned (and is cheaper) and I'm really proud we actually did it, while elsewhere in my country care and wellfare are being broken down. Never thought it would've been possible a couple of years ago.

Anyhoo, an exchange like this might appeal to the masses a lot more then the afformentioned Cryptsy and friends.

[chennan]

I just finished signing up. You first have to confirm you email, then your cell number. Then give your SS number, full name, mailing address, and bank account and routing number. They are making two micro deposits into my account to verify it's my bank account. Nothing about the sign up process was surprising to me, it's the first regulated exchange after all. I have a feeling this might push the price of Bitcoin up if it takes off.

Quite a lot of personal information if you ask me. You are no longer even pseudo anonymous when using bitcoin and using Gemini.
The fact that your information will be given to IRS if you reach some money threshold of sold bitcoin is not that assuring either.

Well if you're looking for a way to avoid taxes by using bitcoin, you shouldn't have qualms about dealing with less then trustworthy people, e.g. Cryptsy and friends. That means losing your btc once in a while.

This libertarian idea of being free of any form of regulation (and taxation) by using btc is just a pipe dream. You libertarians choose the wrong solution to your problem. If you don't trust your government then elect other people, and if there are no good people to elect in your two-party system, maybe you should think about backing a third party or starting a fourth.

Well, there are still a lot of people who support the libertarian ideals... these supporters, including me, have supported Ron and Rand Paul; but the media always do not take what they say seriously at all and they kind of mock them in a way.  I even helped organize some of the Rand Paul events in my area, but the truth is, is that even though you do everything to get your politician of choice to start making a change in the world, doesn't always mean that they are going to be elected... especially if they pose a real change to the status quo of Washington in general...

And to say that there is a realistic chance that backing a third or fourth party to win a nomination is a pretty optimistic view on politics... The fact is is that a majority of people stick to their political ideologies and their "party" no matter if they lock the nominee or not; has to do a lot with people pride in America.

I know, good points. It's not easy changing things. But it's doable, just look at history. It's admirable you actually helped organizing. 

I also know from experience, I work for my local socialist party (not kidding here), and we managed to really change important things, like getting rid of bureaucracy in care for elderly trying to live at their own home for as long as possible, and care for young people in trouble. We let the professionals do their job and we implement stuff like "one family, one plan" instead of organising things around either the instutions or the money. In the end it works much better for all concerned (and is cheaper) and I'm really proud we actually did it, while elsewhere in my country care and wellfare are being broken down. Never thought it would've been possible a couple of years ago.

Anyhoo, an exchange like this might appeal to the masses a lot more then the afformentioned Cryptsy and friends.

Yeah, you're right that people might flock to here because of a false sense of security that their government is there to "protect them" from any "shady business" in the bitcoin field... but to be honest, the bitcoin scene is still a very "shady business", because many notable businesses don't accept them.  The feds would want to keep track of who purchased bitcoins from there and where they went too, to start trying to keep track of what's going on in the blockchain.

As for the political views, are you from the US? I would suspect you would be a very big Bernie fan, since he's the closest socialist to be in the Oval office, ever since, well, ever...

[julian071]

Nah I'm from the other side of the pond. But go Bernie!! I love how this old jewish socialist guy actually appeals to young ppl, just by having a solid story (from my pov anyway and those he appeals to).

[Enjorlas]

Why do I have to vote to get 'my guy' in office? I don't want to force 'my guy' on you and I don't want you to force your guy on me. Why do I have to get the approval of the collective to be free?

[chennan]

Why do I have to vote to get 'my guy' in office? I don't want to force 'my guy' on you and I don't want you to force your guy on me. Why do I have to get the approval of the collective to be free?

Because unfortunately that's how politics work.. If you don't campaign and, in your words, force some guy on another person, then there will be no majority that will vote for said politician that you believe in.

[Preen]

This is really quite a good thing for all the NYC guys who had to leave Bitfinex..