New record: over $1M USD turnover in 24 hours at MtGox

[weinerk]

I believe a new record - over $1M USD turnover in 24 hours at MtGox:

http://omnicompass.com/mtgox/?Min=8&Max=35&Inc=1

Tue Jun 7 00:20:42 2011 (GMT)
Recent USD Exchanged
TimeBin   BTC   USD
Mon Jun 6 00:00:00 2011   348   $6,403
Mon Jun 6 02:00:00 2011   6,514   $119,861
Mon Jun 6 04:00:00 2011   8,428   $155,079
Mon Jun 6 06:00:00 2011   3,274   $60,243
Mon Jun 6 08:00:00 2011   1,857   $34,170
Mon Jun 6 10:00:00 2011   8,497   $156,349
Mon Jun 6 12:00:00 2011   8,680   $159,716
Mon Jun 6 14:00:00 2011   2,361   $43,444
Mon Jun 6 16:00:00 2011   5,727   $105,380
Mon Jun 6 18:00:00 2011   1,866   $34,335
Mon Jun 6 20:00:00 2011   6,232   $114,672
Mon Jun 6 22:00:00 2011   938   $17,260
Tue Jun 7 00:00:00 2011   132   $2,429
TOTAL:   54,854   $1,009,341

[Bit_Happy]

How long before $2,000,000?

[mewantsbitcoins]

A week

[Bazil]

big surprise since mtgox has been so stagnant all day that I'm afraid it will start breeding mosquitoes.

[stic.man]

it takes newbs over a week to get into gox via dwolla here in the US, it may be quicker for other countries, not sure about them

[herbertfilby]

I concur on the Dwolla processing. People's transfers are probably (finally) starting to go through. I expect another leap in price now that people who have been itching to get BTC can finally get in.

[chris200x9]

1 million * .0065 = 6 500

not bad for one day, I wish I would have made mt gox

[torbank]

Next stop: $1 Billion
 

[NO_SLAVE]

yeh, it would be a bit more If I could actually get money into the system.
!!!

[herbertfilby]

Next stop: $1 Billion
 

[kokojie]

I imagine mtgox hires multiple people to run the thing efficiently, and then there are fixed costs of server/office. I imagine they have a pretty healthy profit, but profit margin should be around 50% or so.

Though I agree the fee is kinda high if volume really picks up. I think a $100,000 trade doesn't really cost that much more than a $10 trade. It should be a flat fee based model, like most stock brokers.  Or at least do a flat fee past a certain dollar amount.

1 million * .0065 = 6 500

not bad for one day, I wish I would have made mt gox

[lemonginger]

and maybe it will be, as soon as alternate exchanges become popular and trustworthy.

[stic.man]

gox said themselves there should be some more exchange competition which is half the reason the fee is so "high"

[weinerk]

Today - already over $3M USD

[Grant]

Today - already over $3M USD

Geez, i thought 2 would be a record enough. Ok folks the bubble is certainly canceled the volume supports the new hights!

[Freakin]

Gox is also planning a subscription based fee service instead of a percentage per trade.

[ocharry]

Gox is also planning a subscription based fee service instead of a percentage per trade.

What? Really? That would most certainly reduce volume.