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Title: MtGox's Bank(s) Post by: freedombit on June 03, 2014, 06:01:18 AM Just found this little gem while strolling the boards:
Quote Gox has only one market for all currencies. The bids/asks in any given currency are converted to show in all other currencies, with a exchange fee built in. The fee does not go to Gox, since they ironically are not licensed to exchange between various fiat currencies. Instead the fee goes to their bank, which does the actual fiat exchange. The upshot is that if you place a bid in USD it shows up in Pounds, Euros, Baht, whatever else as well. Source: MagicalTux in irc a few weeks ago. If MtGox's bank acquired a fee from every currency exchange, the bank would certainly be "in the know" of a lot of information. Title: Re: MtGox's Bank(s) Post by: DrApricot on June 03, 2014, 06:57:51 AM Just found this little gem while strolling the boards: You mean Mizuho Bank http://www.reuters.com/article/2014/03/16/us-bitcoin-mtgox-mizuho-idUSBREA2E01V20140316 (http://www.reuters.com/article/2014/03/16/us-bitcoin-mtgox-mizuho-idUSBREA2E01V20140316) - This bank is where the missing $27 million in bank deposits should probably be deposited. Follow the money!Quote Gox has only one market for all currencies. The bids/asks in any given currency are converted to show in all other currencies, with a exchange fee built in. The fee does not go to Gox, since they ironically are not licensed to exchange between various fiat currencies. Instead the fee goes to their bank, which does the actual fiat exchange. The upshot is that if you place a bid in USD it shows up in Pounds, Euros, Baht, whatever else as well. Source: MagicalTux in irc a few weeks ago. If MtGox's bank acquired a fee from every currency exchange, the bank would certainly be "in the know" of a lot of information. |