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What is the difference between this exchange and say, Coinbase, that makes it "next generation"? The website is very light on details.
by roymurdock 11y ago
What is the difference between this exchange and say, Coinbase, that makes it "next generation"? The website is very light on details.
- Caprinicus 11y agoWell for a start coinbase is not an exchange
- quotha 11y agosure it is: https://exchange.coinbase.com/ https://exchange.coinbase.com/
- adam12 11y agoYou might want to let coinbase know that. https://exchange.coinbase.com/ https://exchange.coinbase.com/
- pmorici 11y agoYeah they are. They wern't originally but they launched 'Coinbase Exchange' a while back and now offer both their traditional broker service as well as Exchange services.
- arpit 11y agoFrom Tyler Winklevoss's answer on the Product Hunt page for Gemini: "Gemini is a New York state limited liability trust company, we did not apply for or have a BitLicense which is a much lower standard. As a limited liability trust company we are a fiduciary, which allows us to accept both individual and institutional customers under New York Banking Law (unlike the BitLicense, which does not convey such fiduciary powers). In short, we can work with both Main Street and Wall Street." Source: https://www.producthunt.com/tech/gemini-2 https://www.producthunt.com/tech/gemini-2
- roymurdock 11y agoSo the difference is that they're trying to play nice with regulators from day 1, rather than breaking the rules and rolling with the legal punches in order to serve early adopters?
- acveilleux 11y agoYeah, another to way to put it is they aim for legitimacy so they can be the bitcoin counterparty of choice for Fortune 500s and wall street. And generally run things like any sane financial institution dealing with volatile securities. Not running a bitcoin cafe out of customer funds...
- 7Figures2Commas 11y ago> Yeah, another to way to put it is they aim for legitimacy so they can be the bitcoin counterparty of choice for Fortune 500s and wall street. According to Coinbase, the total value of all Bitcoin is currently about $3.5 billion. This is a tiny, tiny market for "Fortune 500s and Wall Street" and is equivalent to the value of a single (smaller) mid-cap company. Even at its peak, the total value of all Bitcoin was only around $14 billion. Daily Bitcoin transaction volume hasn't exceeded $100 million since July and has been as low as $33 million recently[1]. For comparison, daily volume in the FX markets exceeds $5 trillion. Blockchain technology might be important but Bitcoin itself is about as interesting as the Burmese kyat or Gambian dalasi. [1] https://blockchain.info/charts/estimated-transaction-volume-usd https://blockchain.info/charts/estimated-transaction-volume-...