Bitcoin Exchanges: Amateur hour is over

[oblivi]

Im not sure if this is good, too much profesionalization leads to forex sharks rigging the price.. will they be able to do it with Bitcoin?

But then again, its sure better than Magic the Gathering collectors running the show.

[cypherdoc]

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

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

true but given the fact that the US has been by far the source of the vast majority of capital invested into Bitcoin, having our own exchange should not only perpetuate that fact, but accelerate it.

it's very bullish news for the US in general as it means we can take a center stage role in the development of Bitcoin.

[JimboToronto]

It's good to see Americans get their own exchanges.

We Canucks have been spoiled for years with government-regulated Cavirtex.

[ivyleague1985]

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.

It is so happy to finally say good-bye to manipulative and unscrupulous Chinese exchanges.

[freedomno1]

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.

I agree with you on this one because honestly seeing so many exchanges collapse and also stock exchanges is really not a good sign for usage, with the recent virtex (not cavirtex) and egopay issues alongside mintpal vircurex mtgox and all these other giant failures, a regulated option seems like an inevitable choice we will need in order to ensure future development in Bitcoin.

[myself]

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

[Melbustus]

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:

...
the only positive aka price increase on the short term (1-2 years) will be a total stop of bitcoin production since that is not going to happen the effect will be negative

You missed the trade of a lifetime.

[JamesBrown]

now that coinbase exchange is probably 7hours away from being accessible form half the states how do you see this unfolding? How fast I mean?

[Mellnik]

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:

...
the only positive aka price increase on the short term (1-2 years) will be a total stop of bitcoin production since that is not going to happen the effect will be negative

You missed the trade of a lifetime.

Owned & Pwned .

[myself]

dear OP: nope

OP is very likely correct.

is just a hope dreams likely to end in tears

A very brief check of your post history reveals that you've been a bear since 2012. This note from October 2012 was especially funny:

...
the only positive aka price increase on the short term (1-2 years) will be a total stop of bitcoin production since that is not going to happen the effect will be negative

You missed the trade of a lifetime.

nope, u still dont get it a exchange i a heavy regulated country cant compete with a exchange in a less regulated country

[BitCoinNutJob]

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.

Only takes 1 big whale to decide to pump bitcoin and we are off to the moon, great news imo.  Wonder what bearwhale is thinking right now, hope he bought back in cheaper.

[myself]

Code:

{"open":"246.12000000","high":"307.46000000","low":"245.32000000","volume":"1571.00011200"}

https://api.exchange.coinbase.com/products/btc-usd/stats

[NUFCrichard]

Code:

{"open":"246.12000000","high":"307.46000000","low":"245.32000000","volume":"1571.00011200"}

https://api.exchange.coinbase.com/products/btc-usd/stats

Trade will be important, and hopefully it isn't just moved from one exchange to another.  We can't underestimate the good press that there is at the moment either though.
People are really talking about Bitcoin being the future and safe, instead of funny internet money for drugs and hackers!

[pawel7777]

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 will be a game-changer. But both, Gemini and Coinbase will be limited to US only. So all the other 'amateur' exchanges will remain a decent market share and will have some time to re-think their long term strategies.

Bitstamp will be the one that have to adjust quickly. Wouldn't be surprised if they implement other fiat/crypto currencies. They won't last long with one BTC/USD pair.