Gemini's launch and impact on Bitcoin price

[randy8777]

Just another place where people can easily dump their scamcoins so it's guaranteed to push the price down.

you're getting funnier and funnier lately. you once mentioned you don't hate bitcoin at all, and now you say scamcoin... you're making a clown out of yourself.

[maokoto]

What is the difference in Gemini with other exchanges? There are lots of them already (noob question, really want to know)

[talks_cheep]

What is the difference in Gemini with other exchanges? There are lots of them already (noob question, really want to know)

The only thing going for Gemini is that it's located in New York City.

Problem is that no sane institutional investors know enough about bitcoins to plunk down their money or risk their clients' money into it. Winklevoss twins don't exactly inspire confidence in them either. Gemini is facing multiple hurdles, including competition, being late to the game, lack of market share, too many to list.

[koryu]

first asks are placed https://api.gemini.com/v1/book/BTCUSD

[zby]

first asks are placed https://api.gemini.com/v1/book/BTCUSD

Indeed:

{"bids":[],"asks":[{"price":"243.50","amount":"0.01","timestamp":"1444311349"},{"price":"244.00","amount":"10","timestamp":"1444311349"},{"price":"245.00","amount":"0.01","timestamp":"1444311349"},{"price":"248.95","amount":"0.2471232","timestamp":"1444311349"},{"price":"265.00","amount":"19","timestamp":"1444311349"},{"price":"300.00","amount":"1","timestamp":"1444311349"},{"price":"400.00","amount":"1","timestamp":"1444311349"},{"price":"600.00","amount":"1","timestamp":"1444311349"},{"price":"800.00","amount":"1","timestamp":"1444311349"},{"price":"1000.00","amount":"1","timestamp":"1444311349"},{"price":"1337.00","amount":"1","timestamp":"1444311349"},{"price":"1500.00","amount":"2","timestamp":"1444311349"},{"price":"2000.00","amount":"1","timestamp":"1444311349"},{"price":"5000.00","amount":"2","timestamp":"1444311349"},{"price":"5555.00","amount":"1","timestamp":"1444311349"},{"price":"9999.00","amount":"1","timestamp":"1444311349"},{"price":"10000.00","amount":"1.21","timestamp":"1444311349"},{"price":"20000.00","amount":"1","timestamp":"1444311349"}]}

Why only asks? Was it not possible to transfer money into the accounts earlier?

[Alley]

Nobody is rushing to sell their coins on Gemini.  Only about 10 coins for sale at a realistic price.  This will be a slow process.  Even if their was a institutional client wanting to buy 1k coins their simply not their.  Good chance for some arbiratige.

[koryu]

first asks are placed https://api.gemini.com/v1/book/BTCUSD

Indeed:

{"bids":[],"asks":[{"price":"243.50","amount":"0.01","timestamp":"1444311349"},{"price":"244.00","amount":"10","timestamp":"1444311349"},{"price":"245.00","amount":"0.01","timestamp":"1444311349"},{"price":"248.95","amount":"0.2471232","timestamp":"1444311349"},{"price":"265.00","amount":"19","timestamp":"1444311349"},{"price":"300.00","amount":"1","timestamp":"1444311349"},{"price":"400.00","amount":"1","timestamp":"1444311349"},{"price":"600.00","amount":"1","timestamp":"1444311349"},{"price":"800.00","amount":"1","timestamp":"1444311349"},{"price":"1000.00","amount":"1","timestamp":"1444311349"},{"price":"1337.00","amount":"1","timestamp":"1444311349"},{"price":"1500.00","amount":"2","timestamp":"1444311349"},{"price":"2000.00","amount":"1","timestamp":"1444311349"},{"price":"5000.00","amount":"2","timestamp":"1444311349"},{"price":"5555.00","amount":"1","timestamp":"1444311349"},{"price":"9999.00","amount":"1","timestamp":"1444311349"},{"price":"10000.00","amount":"1.21","timestamp":"1444311349"},{"price":"20000.00","amount":"1","timestamp":"1444311349"}]}

Why only asks? Was it not possible to transfer money into the accounts earlier?

dunno but its really boring right now

[Boxman90]

That 10 minute delay on the public ticker though. Criminal.

[OmegaStarScream]

You can see here better : http://bitcoinity.org/markets/gemini/USD
thanks to : https://bitcointalk.org/index.php?topic=1201174.msg12634265#msg12634265

[Oblodo]

So nothing nada zip zero.. Is what Gemini does for the USD/BTC.... Just another nerd exchange. I think we have several years until BTC reach its potential. Or some bank use the blockchain technology and creates their own coin... I just hold and buy. If it goes down the drain, so be it. Happy to have mined mine.

[talks_cheep]

Reality is setting in. Many people will be hugely disappointed. A long waited Winklevoss twin's Gemini exchange is a complete flop, who would've thunk that???

[gentlemand]

Well, congrats to them for actually having a working product out there.

Unless they themselves have cajoled some new buyers and sellers to come on board, not a great deal's gonna happen.

The current crop of players, and previous ones, don't seem to care all that much about whether their exchange is dependable and honest, they just want masses of leverage and the illusion of volume.

[newcripto]

Gemini's launch will have good impact on Bitcoin and it will help to spread the word about it more far.I will promote the Bitcoin and create awareness and let the common man know that Bitcoin is not something just virtual.I see it good thing happening an exchange to be located in New York city and to trade Bitcoin.

[Shiver]

If Gemini can prove itself to be solid and reliable then that is useful, though remember that the whole of the USA is only about 5% of the world population, so its immediate impact is not likely to be that great.  Worth keeping an eye on though.

[roadbits]

Gemini's launch will have good impact on Bitcoin and it will help to spread the word about it more far.I will promote the Bitcoin and create awareness and let the common man know that Bitcoin is not something just virtual.I see it good thing happening an exchange to be located in New York city and to trade Bitcoin.

I don't just by launching some new exchange will impact on bitcoin prices. If some big companies starts selling their products for bitcoins then surely it will have a impact on bitcoin prices otherwise gemini will be another bitcoin exchange only. But still they have prove they are trust worthy first to use their services

[BlindMayorBitcorn]

Anybody beat me to the *crickets* thing? I'm too ambivalent to look back.

[Fiat_Hodler]

I guess either no one has any funds on there yet or there is no liquidity yet or it was a failure and no one signed up (would hurt to have paid for all their licencing fees and flopped).

IF they are a flop they should somehow sublease their licences to small traders. It is too difficult for small traders to get licences on a state level so this might actually be a good business model.

[Herbert2020]

Gemini is just an exchange service. it can not have that big a effect on bitcoin price just by starting their service. it seems to be legit and with the license in NY but i don't see any of these a reason for price of bitcoin going up.
it goes up if they decide to pull a gox

[Omikifuse]

No effect so far, good or bad.

I think not much people will go for Gemini because of all docs required for sign-up

[TheGr33k]

Hello everyone,

will, in your opinion, the launch of Gemini Exchange will have an impact on the Bitcoin price?

There's already many thread that are exactly similar to this thread, except they were well thought out, provide links and contribute something to the intellectual conversation that you're pretending to demand.. However I wouldn't expect much an impact, but possibly a slight bump up which would be only artificial, temporarily.