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mizerydearia
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August 18, 2010, 11:33:05 PM
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From my analysis it appears Bitcoin Market is practically dead or barely used.  Is this accurate/true?

If so, is there something specific that Bitcoin Market does or doesn't do that causes it to not be as popular, successful, widely used or otherwise useful as other competing markets/exchanges?  What are these things?  What can help to improve Bitcoin Market so that it will be more accepted or useful to others?
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theymos
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August 18, 2010, 11:50:18 PM
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With BCM, you might have to wait up to 10 days for a trade to be confirmed. I don't want to do PayPal trades very often because I don't want PayPal to freeze my account for "suspicious activity" or whatever. For these reasons, I think people who use BCM prefer to do large but infrequent trades. I have personally traded more BTC in a single trade on BCM than Mt. Gox's current 24-hour volume.

I strongly believe that Mt. Gox will collapse when it experiences a few chargebacks. I don't trust that deposited USD or BTC will still be there when I want to withdraw.

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August 18, 2010, 11:57:23 PM
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With BCM, you might have to wait up to 10 days for a trade to be confirmed. I don't want to do PayPal trades very often because I don't want PayPal to freeze my account for "suspicious activity" or whatever. For these reasons, I think people who use BCM prefer to do large but infrequent trades. I have personally traded more BTC in a single trade on BCM than Mt. Gox's current 24-hour volume.

I strongly believe that Mt. Gox will collapse when it experiences a few chargebacks. I don't trust that deposited USD or BTC will still be there when I want to withdraw.

Isn't the charge back risk just in a different place on the two markets?

A market with a non-PayPal USD deposit method would be nice.

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jgarzik
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August 18, 2010, 11:57:41 PM
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I wonder if Mt. Gox will switch to debit cards only, with the presumably lower chance of reversal.


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August 19, 2010, 12:03:38 AM
 #5

Isn't the charge back risk just in a different place on the two markets?

A market with a non-PayPal USD deposit method would be nice.

There are no chargebacks if you use LRUSD or Pecunix (both supported by BCM).

If you want to use PayPal or Moneybookers, you get to delay confirmation for 10 days, which will hopefully reduce the risk. If a chargeback does happen, it only affects one person instead of bankrupting the entire market.

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August 19, 2010, 12:21:35 AM
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Isn't the charge back risk just in a different place on the two markets?

A market with a non-PayPal USD deposit method would be nice.

There are no chargebacks if you use LRUSD or Pecunix (both supported by BCM).

If you want to use PayPal or Moneybookers, you get to delay confirmation for 10 days, which will hopefully reduce the risk. If a chargeback does happen, it only affects one person instead of bankrupting the entire market.

Ah, okay. I forgot about the other methods because I don't use them. Maybe I should look into them.

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August 19, 2010, 03:38:21 AM
 #7

From my analysis it appears Bitcoin Market is practically dead or barely used.  Is this accurate/true?

If so, is there something specific that Bitcoin Market does or doesn't do that causes it to not be as popular, successful, widely used or otherwise useful as other competing markets/exchanges?  What are these things?  What can help to improve Bitcoin Market so that it will be more accepted or useful to others?

The problem with the bitcoin markets is that they all use some other online payment processor, killing one major advantage of Bitcoin, the very low cost of transactions.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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August 19, 2010, 04:42:05 AM
 #8

From my analysis it appears Bitcoin Market is practically dead or barely used.  Is this accurate/true?

If so, is there something specific that Bitcoin Market does or doesn't do that causes it to not be as popular, successful, widely used or otherwise useful as other competing markets/exchanges?  What are these things?  What can help to improve Bitcoin Market so that it will be more accepted or useful to others?

The problem with the bitcoin markets is that they all use some other online payment processor, killing one major advantage of Bitcoin, the very low cost of transactions.

Yeah it sucks to pay 3.4% to paypal and kinda defeats the purpose.I dont see a way around it yet.
mizerydearia
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August 19, 2010, 05:02:07 AM
 #9

Is it possible to use Google Checkout for transactions?  How about WorldPay?
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September 17, 2010, 08:58:14 AM
 #10

Please look into trade ID -755

xCharts : BTC-e Fast Loading long-term charts                   BTC/USD Market report and detailed  analysis

BTC: 1LDTxfdQafwreoeWgZnBv6p5yFd11bGMq9   NXT: 3553638239354230186
mizerydearia
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September 17, 2010, 10:50:12 AM
 #11

Please look into trade ID -755
You may want to contact dwdollar directly either through his site, email or through private message.
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September 20, 2010, 06:27:41 PM
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The problem with the bitcoin markets is that they all use some other online payment processor, killing one major advantage of Bitcoin, the very low cost of transactions.

The MadHatter's Bitcoin 4 Cash site http://vms43o4cqysakvyb.onion/ trades directly in several private currencies, such as the FRN, etc. So load up on Bitcoins and spread them around!

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September 20, 2010, 07:15:36 PM
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The MadHatter's Bitcoin 4 Cash site http://vms43o4cqysakvyb.onion/ trades directly in several private currencies, such as the FRN, etc. So load up on Bitcoins and spread them around!

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