LOL, the coinbase's depth on BTC/GBP market... flash crash to £100

[Pkuwag]

I’m feeling it's not too wise for myself to attempt BTC/GBP trading on coinbase

coinbase's depth




kraken's depth seem also not good





so only lakebtc is left?




I had traded USD on it and I never hope lakebtc become to my the only counterparty


how about coinfloor, a UK local exchange? liquidity? price spread? fee?   and any other choices??

[Quickseller]

It probably would have been a better idea to trade their USD market (if you were able to do so). From what I have seen, most exchanges do not have very liquid markets for fiat/BTC currency pairs except for USD.

Hopefully this did not cause you to loose large amounts of money.

[Nrcewker]

I also noticed an abnormality appeared on coinbase BTCGBP markets last week, it supprised me that only 100 GBP at that time. in fact, the volume of the whole coinbase can not be regarded as too large

[romjpn]

It probably would have been a better idea to trade their USD market (if you were able to do so). From what I have seen, most exchanges do not have very liquid markets for fiat/BTC currency pairs except for USD.

Hopefully this did not cause you to loose large amounts of money.

Well, BTC/GBP seems quite small indeed (looking at coinmarketcap.com data). But BTC/USD is not the only high volume pair. Of course there is the CNY and EUR, but the Japanese yen and even the Indonesian Rupiah made some nice progress !
http://coinmarketcap.com/currencies/bitcoin/#markets

Anyone can trade any pair if they deposit btc and withdraw btc .

[Fioraver]

It probably would have been a better idea to trade their USD market (if you were able to do so). From what I have seen, most exchanges do not have very liquid markets for fiat/BTC currency pairs except for USD.

Hopefully this did not cause you to loose large amounts of money.

Well, BTC/GBP seems quite small indeed (looking at coinmarketcap.com data). But BTC/USD is not the only high volume pair. Of course there is the CNY and EUR, but the Japanese yen and even the Indonesian Rupiah made some nice progress !
http://coinmarketcap.com/currencies/bitcoin/#markets

Anyone can trade any pair if they deposit btc and withdraw btc .

Anyway, this is an accident on coinbase, it should not be looking for any reasons to shirk responsibility. If you were trading on a exchange, which the market depth suddenly turned out to empty, and the price flash crash more than half, what a terrible disaster!

This is absolutely not a sensational, such a serious accident, it may occured tomorrow in other markets on coinbase, such as btcusd, btceur etc..

Stay away from coinbase (at least its exchange)

[Quickseller]

It probably would have been a better idea to trade their USD market (if you were able to do so). From what I have seen, most exchanges do not have very liquid markets for fiat/BTC currency pairs except for USD.

Hopefully this did not cause you to loose large amounts of money.

Well, BTC/GBP seems quite small indeed (looking at coinmarketcap.com data). But BTC/USD is not the only high volume pair. Of course there is the CNY and EUR, but the Japanese yen and even the Indonesian Rupiah made some nice progress !
http://coinmarketcap.com/currencies/bitcoin/#markets

Anyone can trade any pair if they deposit btc and withdraw btc .

Anyway, this is an accident on coinbase, it should not be looking for any reasons to shirk responsibility. If you were trading on a exchange, which the market depth suddenly turned out to empty, and the price flash crash more than half, what a terrible disaster!

This is absolutely not a sensational, such a serious accident, it may occured tomorrow in other markets on coinbase, such as btcusd, btceur etc..

Stay away from coinbase (at least its exchange)

I am not sure exactly how you blame coinbase for this. Few people were willing to buy BTC via GBP on the coinbase exchange and someone wanted to sell a lot of BTC for GBP. The laws of supply and demand caused the price to crash. It is up to the person trading to gauge the depth of the market prior to placing an order

[gentlemand]

There won't be a BTC/GBP pairing worth bothering with until there's an exchange with faster payments. You still have to wire GBP to obscure banks in Europe. Why bother? Just go for Euros and USD. It takes the same amount of time and much larger markets are available to you.

It looks like Fidor are getting on the case with banking so there might be a real exchange soon. Even then I think the UK BTC scene is pretty stunted compared to elsewhere and will take a while to catch up with other areas.