Bitcoin Forum

Coinbase is the biggest western exchange after asia (no. 10) .

How long will it take for Coinbase to reach the top 5? What do you think?

http://img4.fotos-hochladen.net/uploads/2222222222fzh1t704mj.png (http://www.fotos-hochladen.net)

Good for them. I just hope they won't turn into another Gox. BTC needs a stable well managed exchanges, that won't report a hack and disappear after a year or 2.

I would like to see the original page... Can you give me the link?

@bitgeek:

you cant compare coinbase with mtgox. nothing is a 100% safe but coinbase has a very professonial team and because of that more than $120 millions in funding.
mtgox was ran by a criminal lunatic with no clue.


@Gisado

here it is:

http://exchangewar.info/#unisend

I think it'll climb up rapidly especially as bitcoin adoption grows in America. What I want to know is why are all the biggest exchanges Chinese? Hopefully it wont matter in the future any way as we move towards decentralized exchanges which are in the true spirit of bitcoin in my opinion.

There are lots of miners there. Also those exchanges are zero fee so they'll attract traders from all around the world. Hopefully they'll eventually become an irrelevance because none of them are to be trusted.

maybe there are more Bots that trade BTC and this is the reason for the high volume.

They're all zero fees?  :o How do they make money?

I think some charge a withdrawal fee. I'll guess that much of their money is made taking fresh CNY for coins that have never and will never actually exist.

Maybe they're all ponzi schemes?  ;D They might make money from adverts like faucets do. They'll surely get a lot of hits.

You'll notice that the majority of trades done on the platforms that have 0% fees are done by robots.

The owners of the exchange create their own robots that can trade faster than anyone else (by running from the same server or data center).

This is how they can "afford" to offer zero trading fees (the same sort of corruption that happens with high speed trading in stock exchanges).

Personally i don't think they must go any higher , they arent that great

What is the benefit to them of using bots? How do they make their money from this?

They can front run their customers and sell back to them.

Yes - that is probably the main method used.

It should be noted that Coinbase will start charging fees after March 30 (https://support.coinbase.com/customer/portal/articles/1826608-what-are-the-fees-for-using-coinbase-exchange-).

The main asian exchanges don't charge commissions (and I don't think that is going to change any time soon).

Coinbase is getting that volume while only servicing 50% of the states in the US although a larger % of the population.  This is due to the current 0% fees and perceived safety.  That perceived safety is ofc due to regulation.  Those regulations are the reason some people have been kicked off of CB.  I have been lucky that my "bad" transactions happened significantly before they instituted their restrictions and I am able to use CB although I have not signed up with their exchange.

What do people think of using CB considering the regulations they abide by?

Wow its good for coinbase, I'm not really hope will reach top 5.
My fav alt exchanger in 27 lol
Chine exchanger dominate :D


http://exchangewar.info/#unisend

maybe coinbase will change their plan and charge no fees in 2015? maybe  ;)

I have never heard about #3, #4, #5 and #8, #9. How the hell these chinese exchanges got so much volume ? I know they have no fee but ridiculously high volume cannot be justified by this reason.

Sure you can. Just swap 10 btc back and forth a million times.  Boom.. giant volume for doing nothing but passing the same few btc to themselves.

Agree. They have 5 exchanges with volumes at multiples of coinbase, it is ridiculous. I like to see their real volume if they increase fees to 0.1%.

I doubt that will happen. Even they need money to run their business.

Chinese exchanges are on steroids. Man, what is up with their volume?

I know they don't charge anything for trading but it looks quite surreal.

They were already accused of faking it. http://www.coindesk.com/reality-chinese-trading-volumes/
Even if some of the exchanges are doing it China has a significant lead and most of the volume is real. A lot of trades in there.

robots, price manipulation, selling to the people coins that dont exist and buying them back for lower prices.  all these things will be cleared up with time. 

Coinbase charges me about $10 extra every time I buy Bitcoins. The Banks get something also. So no, I don't think they are doing me any favors and should raise fees.

Perhaps that is why Coinbase is doing so well these days. They are charging an arm and a leg.

you can make money with extra / premium services or advertising as well.