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Author Topic: [ANN] Mt.Gox overview: August 2012 / Transparency  (Read 2017 times)
Mt.Gox_Alex
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August 31, 2012, 06:30:30 AM
 #1

First of all I would like to apologize in advance to the Bitcoin Forum team if I posted this in the wrong category.

Now, I know we are rather late on this one, but here you are our second installment of out "Transparency" Program. Basically you will find on this new announcement pretty much the same kind of data you found on the last one, with however some tiny modifications where now you will find Trade Volume and Transferred Volume (Bank In/Out).
Now I know that some of our more enthusiasts users where expecting more (Who said Audit???), well the bad news is that we do not have such data for you right now, the good news however is that (we never been against it) is that this will come earlier than we anticipated.

Anyway please find the document and announcement here after the jump

https://mtgox.com/press_release_20120831.html

Cheers
 

Mt.Gox : The Leading International Bitcoin Exchange.
Mt.Gox Merchant Solutions :   Now Available!
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kjlimo
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August 31, 2012, 06:39:21 AM
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Glad I woke up half hour ago to be ready for this!

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August 31, 2012, 09:23:23 AM
 #3

Thanks, it's interesting. The dominance of the USD over the Euro is remarkable. Does that simply reflect a heavy bias of Bitcoin users towards the states over the Euro-zone?
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August 31, 2012, 09:36:58 AM
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Yeah, interesting indeed. Quite amazing monthly operational cost..

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August 31, 2012, 09:38:23 AM
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Thanks, it's interesting. The dominance of the USD over the Euro is remarkable. Does that simply reflect a heavy bias of Bitcoin users towards the states over the Euro-zone?

Probably, yeah. However there are small corrections: for example Bitstamp is fully european exchange, but it is nominated in USD for some reason. I'm pretty sure that majority of users there are europeans, because of free SEPA transfers.

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August 31, 2012, 12:30:58 PM
 #6

Almost 200k users

3k new users last week. Interesting Grin

Even though btc-e was hacked some time ago it is still in 2nd with 4% of market share.

Good work mtgox  Grin Grin
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August 31, 2012, 01:30:53 PM
 #7

Yeah, this transparency will set the bar higher for competitors.

I think the community will be receptive to transparency.  This will help MtGox continue to be the main player if they continue this trend.

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August 31, 2012, 05:03:56 PM
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Thanks for posting, Gox!

Always good to see openness and professionalism within the Bitcoin community.
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August 31, 2012, 05:14:01 PM
 #9

Interesting. Metrics that I would also like to see :

- Mean time for a deposit to clear.
- Mean time for a withdrawal to arrive.




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kakobrekla
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August 31, 2012, 06:43:07 PM
 #10

- Mean time for a deposit to clear.

60 minutes is close enough :-)

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September 02, 2012, 10:23:50 PM
 #11

Thanks, it's interesting. The dominance of the USD over the Euro is remarkable. Does that simply reflect a heavy bias of Bitcoin users towards the states over the Euro-zone?
I suspect it's just related to liquidity. The USD market has the greatest liquidity, so people trade there. I usually convert my Euros to USD after I transfer them to my Mt. Gox account to trade, because the USD price is what I look at when I want to know the price of bitcoins.

After all, it's quite easy to convert currencies on Mt. Gox - just buy and sell BTC - so it makes sense that people want to trade in the most liquid market given that's it's fairly easy to do so.
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September 02, 2012, 11:19:35 PM
 #12

Finally checked the numbers and I have to say that it's mindblowing how small Bitcoin still is. The amount of money deposited and withdrawn in a 30 day period in the by-far-biggest exchange of the Bitcoin economy is in total approximately 10 million dollars, all currencies combined.

We have come a long way but I think that these numbers could grow 10x in a fairly short period of time, in a year or so. We're still playing with peanuts here.

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