The Hill versus the Mountain

[shady financier]

Do you think people moving money from the Mountain to the Hill might effect bitcoin prices somehow?

Note that the Hilll's not on bitcoincharts yet either.

[DamienBlack]

I was thinking that prices might be moving down because people are trying to move money from Mt Gox to tradehill. But, now that I've thought about it, it doesn't really make sense. The easiest way to get from one to the other is in bitcoins. So people trying to move should be buying, not selling.

Having two well established sites will really help the stability of prices. People will be more willing to counter movement in an attempt to make a quick buck of the price discrepancies. This will lead to more people acting like market makers, (and maybe even actual market makers), which will calm the bitcoin roller coaster a little bit.

[mollari]

Note that the Hilll's not on bitcoincharts yet either.

It is, actually:
http://bitcoincharts.com/markets/thUSD.html

[wumpus]

+1 for topic name

And I agree that less dependence on the mountain is good for bitcoin stability.

[Grant]

Do you think people moving money from the Mountain to the Hill might effect bitcoin prices somehow?

Note that the Hilll's not on bitcoincharts yet either.

overall i don't think so, i moved some BTC over the mountain, and threw them down the hill at 30$ (there was a arbitrage of $3 per BTC until ppl figured to collectively fix it). More exchanges should only help volumes, liquidity.