MT.Gox is dead: Where should we all (most) go next to get enough volume?

[aantonop]

Please suggest others I have missed. Please post reviews with your vote, explaining why you prefer a certain exchange.

This is not a thread for ranting about bad experiences, if you don't like an exchange, pick the one you *do* like and tell us why.

Thank you!

[bb113]

answer is to use multiple exchanges to limit counterparty risk. Also check out kraken.

[aantonop]

Of course, multiple exchanges are the best option (I'm registered at ALL of those).

KRAKEN is currently only available to selected beta testers. That is the only reason they're not in the poll. Should I add them anyway?

EDIT: I added Kraken.com with the qualifier (beta) next to it, which I believe is the fair solution.

[Pistachio]

Bitfloor's website crashes just like MG, but it does have a cash deposit directly to your account for people in the US. I have tried most all of these and they all seem about the same. Maybe someone needs to design a decentralized trading platform that can be easily setup on servers in different cities. Keep it local and we can avoid this kind of crap from MG.

[pheaonix]

gox is still the strongest out of all the exchanges

btce users just got hit hard :/

[Pistachio]

MtGox needs to franchise out and let others open smaller local MtGOX exchanges. People might pay a bit extra to support a local exchange and support decentralizing bitcoin exchanges.

[yvv]

Stop destroying nice technology with speculations. Buy bitcoins when you really need them to pay for goods.

Hopefully, decentralized exchanges are coming soon.

[btbrae]

I use btc-e.com for altcoins and bitstamp.net for bitcoins. Mtgox were very unhelpful when contacting their support, bitstamp.net the complete opposite, are really good, and seem to know how to run a business in the interests of their customers. Mtgox want to "cool" the market with their monopoly trading freezes, Bitstamp.net seem to want to "make cool" the market by offering good service with a good attitude to their customers and a professional approach unlike Mtgox, and I know which I prefer. Of course, I've yet to see them at 5x current volume, scaling well is the real litmus test, so we'll see...

[DeathAndTaxes]

The worst possibility would everyone in groupthink fashion turning another exchange into MtGox 2.0.  I would love a scenario where instead of one dominant exchange you see a dozen or so well run exchanges with no exchange having more than 30% of trade volume.  Exchanges could even setup reserve accounts on other exchanges which would allow order book sharing.  This would provide a level of arbitrage and boost liquidity of both exchanges.  

Personally I have been impressed with bitfloor and bitstamp lately. 

[aantonop]

MtGox needs to franchise out and let others open smaller local MtGOX exchanges. People might pay a bit extra to support a local exchange and support decentralizing bitcoin exchanges.

MtGox has nothing of value to franchise. What would they share?

The platform that is 100x slower than any in the industry?
Their operational skills?
Their management skills?
Their PR skills?


The only thing they have is money, which is not that useful if you have no clue.

Let's direct *our* money to other exchanges instead.

[shamoons]

+1 bitfloor

[DeathAndTaxes]

MtGox needs to franchise out and let others open smaller local MtGOX exchanges. People might pay a bit extra to support a local exchange and support decentralizing bitcoin exchanges.

MtGox has nothing of value to franchise. What would they share?

The platform that is 100x slower than any in the industry?
Their operational skills?
Their management skills?
Their PR skills?


The only thing they have is money, which is not that useful if you have no clue.

Let's direct *our* money to other exchanges instead.

Exactly.  It isn't in MTgox interest for Bitcoin to become more decentralized so those looking for solution from upon Mount Gox are going to be disapointed.  Hopefully MtGox improves their systems but to be honest have you seen their trade volume in the last three days.  It is a record, even with the shutdowns and free trade period, cash is pouring into their coffers.  Why would they be in a rush to change things.  Panic = volume.  Volume = profits.   

[aantonop]

Upon request, I added Vircurex.

Stats will be skewed, as Vircurex was added very late in the poll and missed (possible) votes early. I would welcome reviews of Vircurex, please.

As always, this is not a scientific poll and has been updated twice to add participants. Use common sense in reading the results, pay more attention to the personal review expriences

Thanks

[Pistachio]

Well, I feel like an idiot. Bitfloor went under days after I recommended it. I am still waiting for about $100 in limbo with Bitfloor. Mabye Mt. Gox is not dead after all? - I will give https://coinbase.com a try first.

[shamoons]

My team and I believe we've solved this problem. Why use just one exchange when you can use them all? To that end, we created CryptoStreet to act as a meta exchange. We can consistently offer the best bids and asks and for early users, there's even a handsome arbitrage opportunity.

We're still in beta, so if you request to be put on the beta list sooner rather than later, you'll get your invite.

Shamoon

[rizzn]

I've tried most of these services, and quite a few not on the list because they've gone under. They all share one serious problem - liquidity to USD. I know the reasons behind not accepting reversible transactions, but as someone who wants to trade in and out of BTC regularly, I hate that I have limits through BitInstant, and time delays through services like Dwolla.

The first to solve this problem will gain serious, fast traction.

[MPOE-PR]

My team and I believe we've solved this problem. Why use just one exchange when you can use them all? To that end, we created CryptoStreet to act as a meta exchange. We can consistently offer the best bids and asks and for early users, there's even a handsome arbitrage opportunity.

We're still in beta, so if you request to be put on the beta list sooner rather than later, you'll get your invite.

Shamoon

So basically you and your team recreated Bitinstant a year later?

[shamoons]

My team and I believe we've solved this problem. Why use just one exchange when you can use them all? To that end, we created CryptoStreet to act as a meta exchange. We can consistently offer the best bids and asks and for early users, there's even a handsome arbitrage opportunity.

We're still in beta, so if you request to be put on the beta list sooner rather than later, you'll get your invite.

Shamoon

So basically you and your team recreated Bitinstant a year later?

Not quite, but with CryptoStreet , we're trying to bring Wall Street in on the action.

[MPOE-PR]

Not quite, but with CryptoStreet , we're trying to bring Wall Street in on the action.

Sigh. So you've just re-created ignorance, a la Coin* etc. Oh well. You should probably start with Children and their delusions, then continue with this and six months or better yet a year down the road post again.

[shamoons]

Not quite, but with CryptoStreet , we're trying to bring Wall Street in on the action.

Sigh. So you've just re-created ignorance, a la Coin* etc. Oh well. You should probably start with Children and their delusions, then continue with this and six months or better yet a year down the road post again.

Sorry, I'm not trying to get into a flame war, just curious about what you mean by recreating ignorance? Our bitcoin and litecoin trading platform is just another way to add liquidity to the markets.