Bitcoin Forum

Economy => Speculation => Topic started by: chriswilmer on March 07, 2013, 03:24:18 AM



Title: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: chriswilmer on March 07, 2013, 03:24:18 AM
Today is the day the bitcoin community traded so much that everyone ended up giving their bitcoins to Mt.Gox.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: pretendo on March 07, 2013, 03:25:49 AM
I'm probably switching to another exchange after this. What's the second biggest?


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: jwzguy on March 07, 2013, 03:25:58 AM
You'd think that for that .6% 1.2% of millions of dollars, they'd get their software and servers up to snuff.

This is ridiculous.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Chalkbot on March 07, 2013, 03:26:38 AM
Well it will ultimately be good for bitcoin if we start using some of the other exchanges.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: bytedisorder on March 07, 2013, 03:26:57 AM
True that, however those bitcoins will end up back in circulation will all the new people coming in to the bitcoin universe who buy coin from Mt. Gox

Mt. Gox will make a ton of money though!


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: lucif on March 07, 2013, 03:30:05 AM
Someone... In a name of buzz, make the another exchange with straight hands..

I will lovely move my funds there.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: gweedo on March 07, 2013, 03:32:32 AM
I'm probably switching to another exchange after this. What's the second biggest?

bitstamp.net I maybe switching right when coinlabs takes over the USD


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Blazr on March 07, 2013, 03:34:42 AM
bitstamp.net I maybe switching right when coinlabs takes over the USD

The one thing Bitstamp is missing is Yubikey 2FA, I don't like Google Authenticator. If it had that I would never need to use MtGox again.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Chalkbot on March 07, 2013, 03:35:27 AM
bitstamp.net I maybe switching right when coinlabs takes over the USD

The one thing Bitstamp is missing is Yubikey 2FA, I don't like Google Authenticator. If it had that I would never need to use MtGox again.

I'm with you, is there another exchange with Yubikey?


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: q6m on March 07, 2013, 03:36:28 AM
And they don't deserve a single bit of it.

Coinlab is probably rethinking that partnership...

Today is the day the bitcoin community traded so much that everyone ended up giving their bitcoins to Mt.Gox.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: MacMiner on March 07, 2013, 03:36:47 AM
Quote from: mtgox
We have been working on upgrading the trade engine, but this is an herculean task and we can't do it lightly/in the rush!
From https://www.facebook.com/MtGox

MtGox == blablabla


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: bozak on March 07, 2013, 03:37:57 AM
bitstamp.net I maybe switching right when coinlabs takes over the USD

The one thing Bitstamp is missing is Yubikey 2FA, I don't like Google Authenticator. If it had that I would never need to use MtGox again.

What is wrong with Google Authenticator?


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: arruah on March 07, 2013, 03:38:13 AM
I'm probably switching to another exchange after this. What's the second biggest?
bitcoin-24.com


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: justusranvier on March 07, 2013, 03:41:03 AM
You'd think that for that .6% 1.2% of millions of dollars, they'd get their software and servers up to snuff.

This is ridiculous.
They don't actually have a matching engine. They secretly outsourced order processing to Foxconn, who makes their employees match bids and asks by hand during their lunch break.



Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: EuSouBitcoin on March 07, 2013, 03:53:38 AM
I'm trading more and more at BitFloor and less and less at Mt Gox for 3 reasons
1) at BitFloor at I receive 0.1% for adding liquidity to the order book. At Mt Gox I PAY 0.43%. A difference of 0.53%. HUGE!
2) BitFloor's software and responsiveness is 10 times better than Mt Gox
3) I can transfer USD between BitFloor and my bank account much faster than between Mt Gox and my bank account


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Chalkbot on March 07, 2013, 03:54:46 AM
I'm trading more and more at BitFloor and less and less at Mt Gox for 3 reasons
1) at BitFloor at I receive 0.1% for adding liquidity to the order book. At Mt Gox I PAY 0.43%. A difference of 0.53%. HUGE!
2) BitFloor's software and responsiveness is 10 times better than Mt Gox
3) I can transfer USD between BitFloor and my bank account much faster than between Mt Gox and my bank account

Can I use my Yubikey there?


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Qoheleth on March 07, 2013, 04:33:24 AM
Bitfloor
I was really excited about those guys, and was considering moving there.

Then they got hacked and were down for months.

How do I know it won't happen again?


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Enigma81 on March 07, 2013, 05:04:25 AM
GRRRRRRRRRRRRRRRRRRRRRRRRRRR

MTGOX.COM
An unexpected error has occured. Please try again later.


It's not unexpected when you are running a multi-million dollar trading business on the equivalent of a Commodore 64 / Apple II-E

Gox: Upgrading is hard
Me: I don't care.  Just Like I didn't care that it was 'Hard' to move all of my identity confirmation info from one system to another.  Poor you.

This is INSANE.  Moving Coins to BitFloor and BitStamp ASAP.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: EuSouBitcoin on March 07, 2013, 12:19:10 PM
I'm trading more and more at BitFloor and less and less at Mt Gox for 3 reasons
1) at BitFloor at I receive 0.1% for adding liquidity to the order book. At Mt Gox I PAY 0.43%. A difference of 0.53%. HUGE!
2) BitFloor's software and responsiveness is 10 times better than Mt Gox
3) I can transfer USD between BitFloor and my bank account much faster than between Mt Gox and my bank account

Can I use my Yubikey there?

No, but you can use Google Authenticator which I use and highly recommend.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: EuSouBitcoin on March 07, 2013, 12:23:49 PM
Bitfloor
I was really excited about those guys, and was considering moving there.

Then they got hacked and were down for months.

How do I know it won't happen again?

You don't know that. But then again you don't know that Mt Gox won't be hacked in the future either. It's a judgement call. I think you have to consider all variables: fees, ways of moving USD, interface, likelyhood of being hacked, etc and then decide where you want to trade. Plus you can trade at both at the same time to see which one you like better.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: crazy_rabbit on March 07, 2013, 12:31:23 PM
This is probably a good thing. The more of us that move to other exchanges, the better. The less the volatility and the more diversified the market.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: paraipan on March 07, 2013, 04:20:56 PM
Related

http://www.forbes.com/sites/afontevecchia/2012/11/12/nyse-trading-glitch-hits-216-securities-zaps-half-of-average-trading-volume/


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: MatthewLM on March 07, 2013, 04:41:03 PM
Somebody please make a decent exchange with free UK bank transfers. Bank transfers is where the costs become a joke.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: byronbb on March 07, 2013, 06:50:46 PM
Paging Interactive Brokers.


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: Herodes on March 08, 2013, 12:49:55 AM
Today is the day the bitcoin community traded so much that everyone ended up giving their bitcoins to Mt.Gox.

Not everyone has 0.6% fee, here's more information:
https://bitcointalk.org/index.php?topic=144558.0


Title: Re: Mt.Gox is the real winner here... dat 0.6% fee...
Post by: thefiniteidea on March 08, 2013, 12:57:38 AM
And they don't deserve a single bit of it.

Coinlab is probably rethinking that partnership...

Today is the day the bitcoin community traded so much that everyone ended up giving their bitcoins to Mt.Gox.

nahh, coinlab and gox love this.

With FINRA regulated, FDIC insured Silcon Valley Bank, they can get all the wealthy american money just waiting on the sidelines for a safe medium of exchange.

they said it themselves, and just look at coinlab's website; it is being catered to buying millions of Bitcoins lol...