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Started By
Message
re: Daily Bitcoin Article
Posted on 2/24/14 at 10:14 pm to brucevilanch
Posted on 2/24/14 at 10:14 pm to brucevilanch
quote:
Between the major exchanges, MTGox still has/had the most BTC volume of any site.
It's a misleading stat. Mt. Gox lost it's lead to BTCChina in November (Then Huobi in December) and the American-used exchanges in January.
The only reasons volume picked back up were because 1 BTC was 4-6x less than 1 BTC on other exchanges and mass panic of possible insolvency caused people to dump their Gox coins.
This post was edited on 2/24/14 at 10:15 pm
1
Posted on 2/24/14 at 10:14 pm to brucevilanch
quote:Ouch! That's gonna leave a mark.....
Do you just read /r/bitcoin and pretend like you know what's going on, or do you actually do any trading whatsoever?
Posted on 2/24/14 at 10:16 pm to LSURussian
Posted on 2/24/14 at 10:17 pm to joshnorris14
quote:
1 BTC was 4-6x less than 1 BTC on other exchanges
How can something be more than 100% less? If it's 100% less in value, it's zero.
Posted on 2/24/14 at 10:21 pm to brucevilanch
Posted on 2/24/14 at 10:24 pm to brucevilanch
Also r/bitcoin is shite when it comes to trading, r/bitcoinmarkets (And their chat node) is much better.
Posted on 2/24/14 at 10:31 pm to joshnorris14
Well, this is fun to watch.
quote:
Look at the 6 Month volume in USD and RMB:
LINK
LINK
Volume in USD is still lower this month on Gox compared to Bitstamp.
Six months ago, MTGOX was raped and never recovered the US financial side of the market that they had. Dwolla backed out, and it practically made it impossible to move money into or off of Gox if you live in the US. They lost trust. Let's not forget that people have had BTC on Gox a lot longer than Bitstamp has been around. Millions of BTC that have been sitting there since 2009 just moving back and forth.
Posted on 2/24/14 at 10:32 pm to joshnorris14
Posted on 2/24/14 at 10:33 pm to joshnorris14
quote:Not according to this website for the last 30 days.
Volume in USD is still lower this month on Gox compared to Bitstamp.
LINK
Posted on 2/24/14 at 10:34 pm to LSURussian
wow.
Posted on 2/24/14 at 10:36 pm to brucevilanch
quote:That links appears to show MTGox WAY ahead of the other sites in btc traded. Amirite?
This is fun to watch.
Posted on 2/24/14 at 10:36 pm to LSURussian
quote:
Not according to this website for the last 30 days.
You must have missed the part where I said "volume in USD."
If Mt Gox is trading @ $130 and Bitstamp is trading @$500 who has higher volume in USD?
Plus that link shows that (not accounting for the price cut on Gox) Huobi has 47% of market share which dwarfs Gox.
Posted on 2/24/14 at 10:40 pm to joshnorris14
quote:You must have missed the part where anyone gives a frick how many $ were traded when the question was HOW MANY BITCOINS DID MTGOX STEAL???
You must have missed the part where I said "volume in USD."
Posted on 2/24/14 at 10:41 pm to LSURussian
quote:
You must have missed the part where anyone gives a frick how many $ were traded when the question was HOW MANY BITCOINS DID MTGOX STEAL???
You were the one that quoted me saying "volume in USD" so apparently you gave a frick enough to incorrectly point out how I was wrong.
Why are you lying?
This post was edited on 2/24/14 at 10:42 pm
Posted on 2/24/14 at 10:41 pm to joshnorris14
quote:
If Mt Gox is trading @ $130 and Bitstamp is trading @$500 who has higher volume in USD?
That invalidates your statement due to it not trading at the overall market value.
quote:
Plus that link shows that (not accounting for the price cut on Gox) Huobi has 47% of market share which dwarfs Gox.
LINK
Posted on 2/24/14 at 10:45 pm to joshnorris14
quote:
So how many bitcoins are we talking about which MTGox stole?
Please answer the question before I post your quote where you don't ever look at MtGox...except for the two or three times you've bought btc on it...which you don't remember ever doing.
Posted on 2/24/14 at 10:49 pm to joshnorris14
The question was "how many were stolen?".
Answer: Lots. MTGox probably has more coins sitting in dormant accounts, from people who have just forgot about them, than BTC-e has trading on it right now.
Answer: Lots. MTGox probably has more coins sitting in dormant accounts, from people who have just forgot about them, than BTC-e has trading on it right now.
Posted on 2/24/14 at 10:55 pm to brucevilanch
Can mtgox steal those coins and sell them for usd or are they just lost forever essentially?
Posted on 2/24/14 at 11:01 pm to C
They could move them from wallet to wallet over and over again, essentially laundering them, and sell them off systematically. It would take a while though. If they dumped them all at once bitcoins would be worth pennies.
Posted on 2/24/14 at 11:11 pm to brucevilanch
I posted earlier...
Check out the price of btc on BitStamp now. ($459)
quote:
The buy/sell book looks like support is between $450-$470 tonight.
Check out the price of btc on BitStamp now. ($459)
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