Gemini's launch is a failure, so is bitcoin

[Bit_Happy]

@OP Exactly why is it a failure, what lead you to say this?

[fuddudle]

LOL "We never sold a bitcoin"...

[tss]

LOL "We never sold a bitcoin"...

now we have all these bitcoin. 

bitcoin are bought and sold everyday.  at these prices and all others. 
no one is a fool just because of buying or selling at any point.

[smoothie]

Everyone who thinks news has some instant effect on price is a failure...

this is not always the case neither is the opposite.

It is sometimes true for both outcomes.

[randy8777]

LOL "We never sold a bitcoin"...

that's just a way of showing how much trust they have in bitcoin. i don't believe them either, but for some people who believe things very easily it may sound like they are hero's.

[findftp]

LOL "We never sold a bitcoin"...

that's just a way of showing how much trust they have in bitcoin. i don't believe them either, but for some people who believe things very easily it may sound like they are hero's.

You should never trust words of snake oil salesmen unless they sign a message with their private key.

[NorrisK]

So because an exhcange that is hardly 2 days old has little volume yet it is considered a failure?

People are probably still trying to get their USD onto the exchange..

[mr angry]

So because an exhcange that is hardly 2 days old has little volume yet it is considered a failure?

People are probably still trying to get their USD onto the exchange..

I won't consider it a failure unless the twins close their exchange due to lack of interest, abandon their ETF plans, and dump all their Bitcoins  Although many small alt coin exchanges have closed due to lack of interest this year I don't think the twin's exchange will. I admit I was hoping for more volume on the first day of trading, but Rome wasn't built in a day.

[1Referee]

So because an exhcange that is hardly 2 days old has little volume yet it is considered a failure?

People are probably still trying to get their USD onto the exchange..

I won't consider it a failure unless the twins close their exchange due to lack of interest, abandon their ETF plans, and dump all their Bitcoins  Although many small alt coin exchanges have closed due to lack of interest this year I don't think the twin's exchange will. I admit I was hoping for more volume on the first day of trading, but Rome wasn't built in a day.

Where can you see how much volume Gemini exchange generated in the last 24 hours? Beside that, you guys have to give their exchange time to settle and find the right place in the current market. If large traders don't consider Gemini exchange worth leaving Bitstamp, Bitfinex, etc, for then they have a little problem. Give them at least a few months time to build op their volume. Also, I prefer an exchange that shows real volume instead of producing loads of fake volume.

[Mickeyb]

So because an exhcange that is hardly 2 days old has little volume yet it is considered a failure?

People are probably still trying to get their USD onto the exchange..

Exactly this! Goodness gracious what have we become? Are we all just a bunch of spoiled brats or is this place so full of trolls and FUDsters?

[gentlemand]

Exactly this! Goodness gracious what have we become? Are we all just a bunch of spoiled brats or is this place so full of trolls and FUDsters?

Yes. I want 'Wall St' pleading for my coins neeeooowwwwwwwww.

I thought they used ACH which should get money on there within one business day. I don't think there's any particular rush at present though. 

[mr angry]

So because an exhcange that is hardly 2 days old has little volume yet it is considered a failure?

People are probably still trying to get their USD onto the exchange..

I won't consider it a failure unless the twins close their exchange due to lack of interest, abandon their ETF plans, and dump all their Bitcoins  Although many small alt coin exchanges have closed due to lack of interest this year I don't think the twin's exchange will. I admit I was hoping for more volume on the first day of trading, but Rome wasn't built in a day.

Where can you see how much volume Gemini exchange generated in the last 24 hours? Beside that, you guys have to give their exchange time to settle and find the right place in the current market. If large traders don't consider Gemini exchange worth leaving Bitstamp, Bitfinex, etc, for then they have a little problem. Give them at least a few months time to build op their volume. Also, I prefer an exchange that shows real volume instead of producing loads of fake volume.

At this link.

http://bitcoinity.org/markets/gemini/USD?theme=light



That 77 bitcoin spike last night means someone got money and bitcoins onto gemini. Was that due to one of the lucky few that got a fast bank transfer completed before everyone else? The sell wall above $250 has grown from 30 coins after launch to over 200 coins today. After it goes over 1000 coins the exchange will begin to look more serious.

[1Referee]

So because an exhcange that is hardly 2 days old has little volume yet it is considered a failure?

People are probably still trying to get their USD onto the exchange..

I won't consider it a failure unless the twins close their exchange due to lack of interest, abandon their ETF plans, and dump all their Bitcoins  Although many small alt coin exchanges have closed due to lack of interest this year I don't think the twin's exchange will. I admit I was hoping for more volume on the first day of trading, but Rome wasn't built in a day.

Where can you see how much volume Gemini exchange generated in the last 24 hours? Beside that, you guys have to give their exchange time to settle and find the right place in the current market. If large traders don't consider Gemini exchange worth leaving Bitstamp, Bitfinex, etc, for then they have a little problem. Give them at least a few months time to build op their volume. Also, I prefer an exchange that shows real volume instead of producing loads of fake volume.

At this link.

http://bitcoinity.org/markets/gemini/USD?theme=light



That 77 bitcoin spike last night means someone got money and bitcoins onto gemini. Was that due to one of the lucky few that got a fast bank transfer completed before everyone else? The sell wall above $250 has grown from 30 coins after launch to over 200 coins today. After it goes over 1000 coins the exchange will begin to look more serious.

Thanks for sharing. The volume is indeed very low. Even lowen than I expected it to be, but as I said in my previous post here in this thread, we need to give them time. No exchange directly gets huge loads of volume.

[n2004al]

I don't think so. The owners of Gemini are the twins Winklevoss. Their portfolio includes over 40 companies and is growing strong. Have not reasons why this last investment made from them be a failure.

According to them:

"Our interest in Bitcoin began in 2012. It was immediately obvious to us how awesome and powerful this technology was. People laughed, as they always do, when something is awesome, powerful and new, but that only helped to fuel our fire. Over the past two and a half years, we have spent a great deal of time educating ourselves and others about Bitcoin; investing in bitcoin; investing in Bitcoin-related companies; filing an S-1 registration statement with the Securities and Exchange Commission to create the Winklevoss Bitcoin Trust (an ETF focused on bringing bitcoin investment exposure to main street investors) which will list on NASDAQ; and launching a bitcoin price index called WinkDex that will price our ETF (online, iPhone, Android)."

Seems that they act not without thinking and not prepared. Since they had interest about bitcoin since 2012 and had invested early on it these are very good signs that their last investment connected with bitcoin should have a good progress.

For more about their thoughts about this last their initiative you can learn here: https://blog.gemini.com/welcome-to-gemini/

[Sourgummies]

Though the volume is low, it doesn't mean anything has failed just yet. Besides, there shouldn't be a huge jump in price just because a new exchange launched.

[randy8777]

the gemini exchange obviously hasn't failed. people who think so are doomthinkers or bears hoping to make people sell their coins.

[bad_char5]

Though the volume is low, it doesn't mean anything has failed just yet. Besides, there shouldn't be a huge jump in price just because a new exchange launched.

Gemini, the most highly anticipated, most secure and legitimate exchange, with market manipulation proscribed by strictly-enforced regulations, an exchange with reasonable fees, easily funded via legit US banks ... if this exchange has no volume, what does it tell you about the volume of Slovenian/Moldavian/Shanghai/jhkjhk exchanges? Those volumes are 100% real and super legit, right?

[BitChick]

I think there are a few things going on.  The Winklevoss twins said that it would take a while for money to get onto the exchange.  There is also a need for coins to be available there. 

It might be a good thing to have a slower start.  Any last minute issues can be figured out and less volume will make it easier to do so, but it appears the roll out was really smooth so far.  A few investors will probably just get their "feet wet" and we will see the true success in a month or two. 

[Rumichbit]

Bitcoin will not fail, its so complicated and advanced technology, it will not just fall. Bitcoin is so well made that even a fail is planned.

[natewelt]

Just wanted to point out that Gemini has kept up with the other exchanges in this recent jump from about 245 to 248. Great to see.

Gemini is operating exactly how it should be. Volume is only a matter of time.