Bitcoin Exchanges: Amateur hour is over

With the advent of two professional exchanges by the Winklevosses and Coinbase (which opens up tomorrow), people will finally be able to trust Bitcoin exchanges not to scam them out of their money or do blatant inside trading.

People will feel much more comfortable sending money to regulated exchanges run by people who know what they're doing and backed by venture capitalists (remember that NYSE recently invested in Coinbase) with a big stake in Bitcoin. The amateur exchanges will either professionalize or be left in the dust.

In my view, this may well be the biggest news story in a long time.

This is the best news I've heard in a very long time. It's time for the current exchanges to shape up or GTFO

Would an influx of wealthy traders who can finally trust an exchange to handle hundreds of BTC in their account at a time mean that there are greater price swings?

Or would the resultant (presumed) rise in BTC value cause it to become more stable?

DID SOMEBODY SAY MOOON!?!?!?

In all seriousness though it's quite legitimising news.

I've finally joined this forum because this news excites me

Can I sign up somewhere, to be first in line when they open?

2015 is the year of Bitcoin rebirth. It will be exciting to see what happens to volume and prices once the new exchanges are open.

Quote from: criptix on January 25, 2015, 10:34:34 PM

Bullish

That's not even the biggest part, in my opinion. "Bullish" implies it will increase market price by some amount. Sure, that's great.

But if it works out as intended, for traders it means their counter party risk will be drastically lower. That's huge. New classes of traders and/or investors will be able to join, that simply never had any interest in our little amateur market until now.⁽¹⁾

⁽¹⁾ Sidenote: that doesn't mean they will pump price straight up. That's not how the professionalization of trading works, not at all. But it *does* in all likelihood mean liquidity increases, volatility will (slowly, over time) decrease, and Bitcoin will become more useful as an all-around currency.

as written in the winklevoss exchange.

one of the most legitimate critiques on btc is the bottleneck problem as the way btc interoperates with the fiat world.

having an exchange, which is trustable due to regulation minimizes this problem. we will probably see another group of traders and investors when this exchange lifts off.

These last few posts contain some good points and I'd like to add that regulation should shake off the blackmarket/drugs image associated with Bitcoin once the super rich get trading, perhaps making it more appealing to God-fearing, law abiding middle America.

Quote from: Blitz on January 25, 2015, 10:29:13 PM

People as Americans, I guess?

What about Buttercoin? They sounds like a decent US exchange.

Quote from: oda.krell on January 25, 2015, 10:56:18 PM

Quote from: criptix on January 25, 2015, 10:34:34 PM

Bullish

that is why i actually used the bigger size font, which happened so far like 3 times of my history here Grin

i agree that we wont necessarily see a pump in price but for the longterm it is definitly huge by all means.
it creates alot of safety for possible influx of money.

Quote from: BldSwtTrs on January 25, 2015, 11:07:07 PM

What about Buttercoin? They sounds like decently serious US exchange.

It's not about geography, it's about legitimacy of those that run it.

This is huge, the OP title says it all.

Quote from: myself on January 26, 2015, 01:19:34 AM

dear OP: nope

OP is very likely correct.

It alone is enough to make the last ATH appears ridiculous.

Hope it spread to the rest of the world