Now that taxation is clear, are any institutional investors coming on board?

[CryptoPanda]

I believe that's what they have been waiting. Now they can legally invest and legally pay taxes on their profits.
So, is there any kind of info of institutional investors coming on board?

[pungopete468]

Yup. Plenty of money coming in Q3/Q4 of this year. Just wait for a NY exchange. I think that will change things even more than China did.

How high do you think we would've gone if the PBOC didn't intervene? The US is just planning on taxing the income while pushing it to the moon. They make more capital gains that way...

[CryptoPanda]

Yup. Plenty of money coming in Q3/Q4 of this year. Just wait for a NY exchange. I think that will change things even more than China did.

How high do you think we would've gone if the PBOC didn't intervene? The US is just planning on taxing the income while pushing it to the moon. They make more capital gains that way...

When a NY exchange is opening?
Where is Circle based?

[pungopete468]

If it's not listed by default at the top of BitcoinWisdom then it isn't the same thing I'm referring to.

[CryptoPanda]

If it's not listed by default at the top of BitcoinWisdom then it isn't the same thing I'm referring to.

What?

[pungopete468]

When the big institutional players enter the market, they won't be using a third party exchange; they'll want to own the exchange.

The connections they bring to the table will change the market.

[CryptoPanda]

Well CIrcle is about to be the only big and well funded US based exchange. Not sure if it's based in NY or not, but should be good enough for most investors?
They recently entered private beta I believe.

[dreamspark]

If it's not listed by default at the top of BitcoinWisdom then it isn't the same thing I'm referring to.

What does this mean ? Even a successful NY exchange could take a while to topple some of the big players.

[pungopete468]

If it's not listed by default at the top of BitcoinWisdom then it isn't the same thing I'm referring to.

What does this mean ? Even a successful NY exchange could take a while to topple some of the big players.

It won't take as long as you think. How long do you think it would take for the USPS to grab the header of BitcoinWisdom? I'm not saying that the USPS will ever open a Bitcoin exchange, but that an exchange run by the USPS would be good enough for most investors. All of the exchanges we have now are run by investors using "new" money. Institutional investors know to follow the "old" money.

I would imagine that *most* institutional investors would trust an exchange operated by an organization with a similar reputation to the USPS more than a relatively new startup exchange run by people outside of the "inner circle".

[CryptoPanda]

If they know they will make profit, does it matter who runs it?
As long as it's based out of the US and their money are protected by the law?