Bitcoin Forum

Since Mt Gox commissions went back to 0.65% from 0.30% trading volume has decreased significantly. As of 9:03 EDT on Aug 18th, I show volume of 16,521 and range of 10.679 to 11.04999. If this continues, it looks like a bad business decision. Volume was at least triple before the commission increase. If I were Mt Gox I'd rather earn 0.30% on 3X than 0.65% on X. It also leaves the door open for other exchanges to offer lower commissions, either temporarily or permanently. With lower volume has come lower volatility too. A 37 cent range used to happen in half an hour, now it's the range for half a day.

Yes, but volume may be low for other reasons, for example:

1) High volume came at the end of the month, when some miners need to sell in order to pay rent and bills.

2) The Bitcoin Conference and Expo are coming up this weekend, some may be holding on to their BTC hoping the exposure will cause prices to rise.

3) The 19 year old early adopter already got his Porsche and is now out driving it and impressing his girlfriend.  ;D

higher margins means less volume and bigger movements. nobody would try and squeeze 20 cents anymore, so people playing more or less midterm now.

Tomorrow is the big day.


Tomorrow is conference day.

I have to say I'm wondering what will be said as I know this has been an interesting topic to bring up when I'm out with friends.

Now on my Mt Gox account I see that my commissions are 0.43%. Is this another temporary discount, volume trading discount or what?

I think it's a sign  ;)

mine were 0.6% this morning now 0.5%
whats happening ???

Perhaps, the more you spend, the bigger discount?

IDK


He hasn't mentioned anything about price tiers, but I like it.



EDIT: This is my lucky 777th post. :)

DELETED for privacy

That's a great incentive!

You're right! Mine just popped up

Your trading volume for the past 30 days is ####.######### BTC. If it reaches 5,000.00000000 BTC, your trading fee will be 0.4 %.

Meh, I think 0.4% is still way too high since you usually don't buy/sell the same coins only once.

We're talking about 4/10th of 1 penny per dollar.

Volume discounts are nice. But I think the communication from Mt Gox could be a little better. Is there a Mt Gox blog somewhere? I'd like to see the full schedule to know where the volume breakpoints are.

Suggestion to MtGox:

Monthly/Yearly cap on fees. This will bring in the bots.

Or:

Buy an annual membership.

Yes, well , depending on how good of a trader you (think you) are. Those pennies add up quick when you are buying/selling multiple times per day. I wish they would cap it at a max amount per trade and thus encourage people to make bigger orders.

I don't think it is unreasonable. If you want to make $10 cash out at $10.10. It's all about luck anyway.

The fees are for security, maintenance, research and development... the more money gox makes, the bigger the industry can grow.

We've already seen the security part, we're still waiting for margin trading from the R&D team. And I think that the interests that are generated by the money being deposited can fund the maintenance part.

I'm not worried, the market will regulate it and make it much more efficient.

That is a very good idea.

Let's see if we can re-create the schedule
My current fee is 0.43%
The next breakpoint is 5,000 BTC and 0.40%

LOL


I agree. If there is space for lower prices it will happen.