Bitcoin Forum

Hey friends, help me understand why gox still has most volume. What are the barriers to a mass migration to the other exchanges?

I'll be honest, I started with gox, bought all my coin around 2 and have held 75% of my position. But now, is there a reason to stick with gox?


TJ

Voting on that here: https://bitcointalk.org/index.php?topic=166460.0

I for one am supporting other exchanges now. Just tried out BTC China.

Deposit/withdrawal methods?

.5% trade fees?

I still support Mt. Gox.  Still better than my ETrade experiences.  Yea, they've been hacked...but...dunno.  Seems like they are better than the others...fingers crossed.  Still waiting for P2P exchanges.

BTC China supports Liberty Reserve for deposit and withdrawl

I left / am in the process of leaving.

Thx. Time to test this.

or just a general lack of courage.  maybe fear of reading a manual?

Cheapest way to get LR into btc-e/gox/stamp is via aurumexchange?

Ditto.

I'm dumping Mt Gox too. It has to be done.

Does this reading manual provide a source with lower fees?

Anyone know what 您的账户余额不足 means?

Figured it out -> my account balance is too low.

Exodus to where? Slovenia/Russia/China? If they run away with your money you probably can't even figure out how to get it back.

PS: For anyone who wants to use BTCChina, a caution: for obvious reasons they are not a registered corporation and you can't  even find out who the owner is(I know his identity through other means though), so use at your own risk. But if you need any help with the translation or other things, feel free to ask me.

I think there is a $200 yuan minimum. Did you transfer in or out?

Anyone actually able to withdraw LR from BTCChina (I'm sold 1 coin there to test, but when I click withdraw nothing happens)?

I have a 950 yuan balance and am trying to withdraw 500.

Screenshot please?

You have to enter your trade password first, then click withdraw. Did you set up your trade password? It took me a couple times before I figured that out.

I changed my trade password and tried again and it worked! Not sure what the issue was (i had used the old trade password to sell the btc)

I left three weeks ago. Bitfloor has served me well.

Sweet. I just checked my LR account. It has been 4 hrs and still no LR from BTC China. But it did say it could take a couple days. So not the arbitrage I was looking for. :(

I keep hearing that. I am going to check them out as well as Bitstamp the next couple weeks.

Yeah, was hoping to take advantage of the higher BTCChina prices. But with fees it looks like a cycle is ~14% or am I missing something. This happens to be exactly the price difference :)

Left for Bitfloor today.  Also have some btc on campbx in case i need a quick cash out (2 day usd withdrawal there).

BTC-China to LR = 6%

LR to Gox 4%

With a $30 spread like earlier today I had it pegged that for every 5 BTC I sold at BTC China I would make 6 BTC when I bought in again after 10% fees. So + 1 BTC :)... problem is the transfer from BTC-China to LR can screw you if it takes a couple days.

It's a bit more:

BTCChina trade: 0.3%
To LR: 6% to btcchina, 1% to LR
LR to gox: 5% (how'd you find 4?)
Buy at gox: 0.5%

12.8%

Right now it's 1 BTC yields 1.04. But with the delay it's not worth it.

Need to find a cheaper/faster way!

Should've kept quiet. China nearing gox levels.

BTC-e seems good, but i never tryed it
Think i will now.. But i not can transfer BTC out from Goxxx ;( Fuck
The BTC withdraw page is blank.

The fee look cheap on BTC-e

In order to pay for server space, bandwidth, programmers, designers, and other costs, BTC-e imposes a standard: FEE – 0.2% fee on every transaction performed by all users of the website. This transaction may vary and may be different for each individual account

BTCChina is a 169usd at the moment.

I have a question to gox. If they know exponential fundamentals of bitcoin well, why the hell they didn't prepare having millions of monthly income?

I will not trade on gox until they have this shit. I loose money coz of this shit. And what should I answer for this Facebook fart?

"I excuse you?" "It's okay for few thousands bucks of non-taken profits" "Please continue, I like your lag very much".

The shit about NYSE and others having lags is shit! They are fighting for MICROSECONDS of order processing to satisfy traders demands. I don't ask microseconds, i ask at most few seconds - 1000s times bigger than in normal marketplace.

Until there isn't - fuck you with your excuses.

95% of my trade volume is from automated scripts, which assume that an ask placed at the current highest bid, or a bid placed at the current highest ask, will execute within a couple minutes.

Such assumptions don't hold on secondary exchanges - the script needs to be rewritten to place standing orders instead of spot orders. That takes time and effort that I haven't yet coaxed myself into spending.

Looking forward to when I get the time, though. Bitfloor looks promising.

I think MtGox is still the only exchange that takes the fiat side of the business seriously. Everyone else is so small that they don't have to worry about things as much, and so they're more susceptible to being taken down by law enforcement / losing their money transfer access.

I'm all for competition, but the competition is not yet there.

I'm not leaving Gox because they're battle tested. They've been forged in the heat of many hacks/hack attempts, so I know they're covering a lot more angles then these smaller up & coming exchanges. I'm sticking with experience until I see another exchange platform show and prove.

Why not give some other exchanges a chance to prove themselves? There are others that handle the Fiat angle just as well, if not better.

I will, but I'm waiting for https://rtbtc.com/

Any other suggestions?

Network effect.

relavent

https://i.imgur.com/6O2vgKP.png

I really hope they are going to fix their lag soon.. Otherwise they should just close for new members. If they can't handle the volumes today, how will they do it tomorrow?

I'm moving to BtcE

Bitfloor is registered with FinCEN and keeps their user money in a separate account, for whatever that's worth.

The reasons for me to use Bitstamp are these:

1. No fees for depositing money through SEPA.
2. Requires only 3 confirmations when depositing bitcoins.

I understand that the situation is another if you are situated in the US of A.