Winklevoss launching "Gemini" serving bitcoin to wall street on a golden plate

[BrewCrewFan]

It is a mistake for them to create yet another disaster-waiting-to-happen mtgox style exchange. It should only be open 8 hours a day and should allow floor, dark pool, and OTC trading. Only gamblers want 24/7 exchanges and they will die out as they get hacked.

Yeah but if I read right it would have FDIC insurance right? If that is the case that is nothing like Gox. At least your money has some insurance on it and that is something that is sorely lacking in the cryptoworld. That is something big fish like.

[jaberwock]

It is a mistake for them to create yet another disaster-waiting-to-happen mtgox style exchange. It should only be open 8 hours a day and should allow floor, dark pool, and OTC trading. Only gamblers want 24/7 exchanges and they will die out as they get hacked.

Yeah but if I read right it would have FDIC insurance right? If that is the case that is nothing like Gox. At least your money has some insurance on it and that is something that is sorely lacking in the cryptoworld. That is something big fish like.

insurance is too low for big fishes, at leas where I live.

But is good for people that are scared of Gox events and don't dare to invest more than 1% or 2% of their savings, as many finance dudes advice.

[minerpumpkin]

... and here is your legal way out of the fiat pain gents..
i deeply congratulate the twins with outstanding work that they've done over the course of almost two years.  this exchange might not be perfect as of now - but if it grows enough they would obviously be making it more trader-friendly. they really pushed the legal boundries of our current wounded system. we might be able to be a bit more naughty in future.

That's the thing: They want to bridge the gaps between the "new" system - Bitcoin - and the old monetary system with its limitations and constraints. It's not easy to comply with all the regulations and the ETF has not gone live yet, but the mere fact that they're progressing and pushing everything forward is a remarkable endeavour!

[manselr]

... and here is your legal way out of the fiat pain gents..
i deeply congratulate the twins with outstanding work that they've done over the course of almost two years.  this exchange might not be perfect as of now - but if it grows enough they would obviously be making it more trader-friendly. they really pushed the legal boundries of our current wounded system. we might be able to be a bit more naughty in future.

That's the thing: They want to bridge the gaps between the "new" system - Bitcoin - and the old monetary system with its limitations and constraints. It's not easy to comply with all the regulations and the ETF has not gone live yet, but the mere fact that they're progressing and pushing everything forward is a remarkable endeavour!

Im not sure. I agree that this is a good bridge to have old people like, someone like Ron Paul who is sound on Gold but clueless about cryptos, to invest and get some, but at the same we know how bad it can go with centralized exchanges.

[cbeast]

It is a mistake for them to create yet another disaster-waiting-to-happen mtgox style exchange. It should only be open 8 hours a day and should allow floor, dark pool, and OTC trading. Only gamblers want 24/7 exchanges and they will die out as they get hacked.

Yeah but if I read right it would have FDIC insurance right? If that is the case that is nothing like Gox. At least your money has some insurance on it and that is something that is sorely lacking in the cryptoworld. That is something big fish like.

FDIC is stupid for a Bitcoin exchange. First of all, that is only for money held in the bank, not on the exchange. Second, hackers don't steal fiat, they steal bitcoins which cannot be insured by FDIC. Thirdly, if a hacker does manage to withdraw cash from the bank to trade for bitcoins, the bank will claim it was a legitimate withdrawal and refuse insurance coverage.

[Oscilson]

insurance is too low for big fishes, at leas where I live.

But is good for people that are scared of Gox events and don't dare to invest more than 1% or 2% of their savings, as many finance dudes advice.

If you do not hold your life saving there, it should be OK. It is just a trading account.

[nakaone]

regarding time fram (semi-speculative).

I remember lawsky saying that he expects a regulated exchange soon aftern bitlicense goes live, I think he even said around march.

I'm too lazy to look it up now but I think he said it in the course of discussion of the improvement of the bitlicense (around mid-december, maybe little earlier).

if he meant this exchange is written on a different piece of paper

[pereira4]

The guy from LinusTechTips did a video on the Gemini Bitcoin exchange, this guy gets tons of traffic:

https://www.youtube.com/watch?v=41r8OM5fA0U

[HarmonLi]

insurance is too low for big fishes, at leas where I live.

But is good for people that are scared of Gox events and don't dare to invest more than 1% or 2% of their savings, as many finance dudes advice.

If you do not hold your life saving there, it should be OK. It is just a trading account.

Some people do trade large portions, though! And even if it's just a fraction of someone's wealth, it's better if it is protected properly! Exchanges should at least be as safe as humanly possible!

[minerpumpkin]

... and here is your legal way out of the fiat pain gents..
i deeply congratulate the twins with outstanding work that they've done over the course of almost two years.  this exchange might not be perfect as of now - but if it grows enough they would obviously be making it more trader-friendly. they really pushed the legal boundries of our current wounded system. we might be able to be a bit more naughty in future.

That's the thing: They want to bridge the gaps between the "new" system - Bitcoin - and the old monetary system with its limitations and constraints. It's not easy to comply with all the regulations and the ETF has not gone live yet, but the mere fact that they're progressing and pushing everything forward is a remarkable endeavour!

Im not sure. I agree that this is a good bridge to have old people like, someone like Ron Paul who is sound on Gold but clueless about cryptos, to invest and get some, but at the same we know how bad it can go with centralized exchanges.

Well, if it really is a regulated and supervised exchange this time, the risk of it going belly up should be much lower. They have to adhere to much stricter rules and supervision. People with a a couple spare million USD lying around don't want to mess with unprofessional exchanges. They want, and need, exchanges that operate in the field they know.

[ChuckBuck]

Looks like the Winklevii are late to the big dance once again:

http://blog.coinbase.com/post/109202118547/coinbase-launches-first-regulated-bitcoin-exchange

They can't catch a break, first Facebook, now this.

They're only hope at saving face from being the laughingstock of Crypto is launching the COIN ETF before another one shows up.

[ivyleague1985]

Do anyone think Gemini will disclose the numbers of their institution clients in the audit?

I am very much interested in this piece of information.

[AmazonStuff]

This looks promising

[coinpr0n]

ETA for this? If these "next-gen" exchanges get rolling soon it'll be a good start to 2015.

[BayAreaCoins]

ETA for this? If these "next-gen" exchanges get rolling soon it'll be a good start to 2015.

Hopefully when the release it they actually have people buying.

Fucking Coinbase seriously....

When you launch your NYSE exchange BS at least launch it buying some BTC...