Bitcoin Forum

What the heck is goin on @ Gox atm? Its been around $112 for 12hrs +... zzzzzzzzz

 :( >:(

The price has been annoying steady- but I suppose it's better than watching it plummet. We might be waiting for the next wave of newcomers onto the scene. I got in in mid March, but it appears there's a real sense out there that the average Joe hasn't caught on yet. They may have heard of Bitcoin, but still have no idea what it is or what it means. I haven't seen the volume so low on Gox in...ever. 20,000? Hate to speculate- eh, who am I kidding I love to speculate. I hope it soars. I kick myself for not getting in when I heard about Bitcoin (and doubted it) in 2011, but I'm trying to get out of that habit. BTCitGurl

i hear you BitGurl

I am also regretting that i did not take it seriously when i first heard about bitcoins.

Yeah its very annoying not being able to make any money atm. I'm like you I heard about bitcoin a year or so ago but stupidly dismissed it as going nowhere lol. Oh well I hope theres some excitement in the market again soon , its been booooring the last few days.

Ahh yea that makes sense, stable price means no daytrading. Lame. Yes I feel that frustration, but hey there are still many people who are going through just that now- hearing of Bitcoin, and dismissing it. They may be kicking themselves in some time, looking at us like "You have ONE WHOLE BITCOIN? Whoa". :)

BTCitGurl

Or in a year from now they may be saying "Ha, Bitcoins? You actually wasted money on those?"

Assuming Bitcoins will be worth more in a year is asinine. All it will take is a few more business regulations and the whole thing falls apart. For all we know, in a year a Bitcoin could be worth $200... or $0.05.

Goxxed again! :D

The other thing is without regular updates, the media coverage will stop.
That could effect it either way too. At least for the forseeable future though,
nobody is going to let the price drop below 40 without buying up as much as possible.

I like this new stability in the price...makes it easier to send BTC and not have it drop in transit.

Stability means no day trading tho lol. Its hardly moved between 111-113 for ages so hoping for it to breakout soon.

Make me rich Bitcoin!!  :D

Agreed, oddly steady around 112-113.  Volatility is much better for trading in/out on the hi and low.  I won't bet on BTC having overall unlimited growth in the future, but at least you can make money off of the volatility.

With all the recent news about the lawsuit and litecoin delay people may be holding until Gox next move.

Well with the slow change in value I like to think there is less speculation with BTC now, which makes it a little more useful with which to buy things.

 ;)

Don't get caught up in the get rich quick schemes people. Bitcoin is in for the long haul. I think gox being semi stable is great for the economy. The press will eat the stability up so Im sure more people will take that as an opportunity to buy in. You'll still get all the volatility in time. Gox just needs to keep up with promises. Can you say litecoin?

Well speculating on price moves is basically gambling :) And especially with currency and without any options etc to hedge bets and have stop loss possibilities. So betting on wild swings is a so-so model :)

Going up now.  :P

Lack on interest - there was almost no volume on Gox.

Trading is a bit difficult when it's stable...

i hope LTC comes to Gox soon

ugh I wanted it to take a dump below $100 so I could buy more..

Is anyone able to successfully arbitrage between two bitcoin exchanges like MTGOX and BTC-E?

Thanks,


donate ripple to help me contribute to it's success?
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I tried to arbitrage between BTC XRP and USD using the ripple wallet, but spreads were too wide and volume too low to make any profit. I was trying this at night, so maybe trading is more brisk during the day? I was looking at the price of BTC to XRP and noticed a sizable difference between that and XRP to USD. I could have made a couple of bucks if my USD transfer to BitStamp went through, but for some reason it didn't go through.
Here was my plan:
trade BTC for XRP
trade XRP for USD
trade USD back to BTC and come out ahead.

Volatility is profitable.

Look at the google trends chart for bitcoin, after huge spike of interest in april there is a quick fallback and it's still falling. Less people interested = fewer transactions = low transaction volumes. I wonder how is it going to affect the exchange price in the long term.

Look to what drives real value. Real value comes from Bitcoin use as a currency, so the more useable it is the more value it has. What do I mean by this? I'm talking about being able to use Bitcoin to buy stuff. Most of us aren't in the market for illegal drugs on Silk Road, we just want to use Bitcoin to buy a sandwich or a coffee or stuff on the web. It's just like the price of a stock, in the short run prices rise and fall on speculation but in the long run real value or profits and dividends drive the price to fair value.

Well after an interesting start to the weekend, things on Gox have slowed again and volume is down. DId anyone make much off that upswing from $112 to around a peak of $122 or so?? Not much happening again atm

Yes, the volatility is good for day-trading, but in the long run the stability is good for bitcoin’s credibility. That should lead to growth.

me too. should be good for its value.

I'm going to be interested in that, do you think it will suddenly rise in price or do you think that people will wait to see what happens. I'm guessing that most will be cautious at first to see where it heads.

Aside from the discussion here, why do they demand scanned id pictures? Where is the privacy

What are the transaction costs for trading on MtGox?

.06% buying and selling.  It seems strange for such a nobel idea as a cryptocurrency, everyone sure seems to have their hand out for a huge percentage of each transaction.  Paypal gets bad mouthed but it costs a large amount to get your money into BTC-e or other exchanges and Dwolla transfers to Gox takes days and days.  I fear for the future adoption of such an expensive model.

No, it's 0.6%. Incidentally that's three times the price of BTC-e.

Thank you. I hope there are no [edit: additional] fixed fees or minimum transaction amounts?

There must be some fees, otherwise they couldn't stay in business.

Gox starts at 0.6%...

I've dropped mine to 0.5% and just about at 0.46% see printscr: http://prntscr.com/14ol34 (http://prntscr.com/14ol34)

I've been told it can drop as low as 0.2% with sufficient trading.

As for arbitrage there is definitely value in it... once coinbase becomes a little more established and ups their limit... lag will be had. I was trading virtex and definitely could have made gains btwn them and gox if it weren't for their 3% fees!

ha ha ha ha hah ahahahahahaahah haha hahahha

Yes, 0.2% on each side. You pay 0.2% and the person who just matched your trade also pays 0.2%.

Trading (speculating) is NOTHING like gambling...and that attitude is why most people don't succeed at it.  I've been a forex trader for 4 years.  I guarantee you I couldn't pay my bills for 4 years by sitting at a roulette table in Vegas 5 days a week.

Also, you have plenty of options to hedge your "bets"...what's to stop you from buying on BTC-e and selling at the same time on Bter?  Or Gox?