Bitcoin Forum

Although not realy a newbie... ;-)

MtGOX and other EUR exchanges have prices about € 10 - € 10,24
Intersango: € 9,25 (total offer: € 6000,-)

In my opinion this means that the sellers at Intersango are not able to get their Bitcoins to other exchanges, or do not trust other exchanges to get their money out.

Or is it because they need GBP's and there is no better option?
This is a exchange 'cost' of € 600,- (in difference of other exchanges)!

And it seems they need their money.
(to pay the electricity bills ;-) )

What do you think?

...Intersango down to € 9,10!  :o

Someone has either messed up EUR and GBP or bid and ask.  Currency mixup and bid/ask mixup happens on Intersango and other exchanges.

I have an account in Intersango but I wouldn't deposit any more money there and I'm sure I'm not the only one. IIRC they are also not admitting new users. This may explain some of it.

Many Intersango users must be cashing out and leaving.

Doesn't make any sense at all.
Cashing out is easier done in BTC, which would shoot the price up.

Scarcity of new funds in FIAT pushes the price down though. I guess the bots are taking care of things now.

I transfer thousands of EUR to Intersango every week.  How much can you eat?

I'm not sure eating euros is healthy.

Now that Intersango has lost its UK bank account, a lot of users now have to cash out via euros. So this has created demand for them and increased their relative value on this site.

Nobody have to cash out via Euro.  Users can cash out bitcoins any time at no fee, and sell elsewhere for whatever currency they like.

There are a number of threads discussing the problem of cashing out to a UK bank account.

There is a large number of people from the UK on #bitcoin-otc every day outbidding each other to get hold of coins.  Not very difficult to cash out there.  On MtGox the price in GBP is constantly 2.5% over the price in USD.  I don't know if you have noticed, but it is the GPB (and AUD and EUR) buys that keeps the price falling like a rock at MtGox when people sell thousands of coins for USD.  The overprice at MtGox should cover the fees if you cash out there and transfer the money back to an UK account as a normal international money transfer.

Still there are EUR exchanges differ much in BTC prices.
After spent some time watching I see the price of MtGox is 2% - 3% higher than Intersango and Bitcoin-24.
Bitcoin-Central is between MtGox and the other two.