oakpacific
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February 25, 2013, 08:25:57 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently.
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ElectricMucus
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February 25, 2013, 08:27:08 AM |
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The spread between different currencies and mtgox usd is usually related to volatility.
basically non-mtgox-usd < mtgox-usd < mtgox-other < non-mtgox-other. This has been pretty much consistent mostly and if you take into account how arbitrage works it makes sense.
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ElectricMucus
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February 25, 2013, 08:28:21 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan.
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oakpacific
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February 25, 2013, 08:36:49 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies.
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ElectricMucus
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February 25, 2013, 08:42:24 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Care for a link? I'd like to check that myself. I only see the yuan prices on their site.
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Luno
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2013, 08:47:27 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Someone wrote here last year that Btcchina did not have a live ticker and order book. They only update price in 5 minutes interval. Also the tradition in China for small investors is to speculate in bucket shops with very little to go on besides the price on the stock they are trading. So are Chinese traders more of a gambling mentality? Do Btcchina really smell legit, have they improved? (I'm not Chinese, despite my signature)
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oakpacific
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2013, 08:49:25 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Care for a link? I'd like to check that myself. I only see the yuan prices on their site. It's the front page of the site, right above the chart there are two tables, the right table displays Mt.Gox prices in both currencies, last/max/min prices, etc, the USD is converted into CNY in real time, and the rate is up to date, if you compare the equivalent CNY price to the left column btcchina price, which is displayed in CNY only, the btcchina price is consistently higher, though not by that much ATM
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oakpacific
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2013, 08:50:23 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Someone wrote here last year that Btcchina did not have a live ticker and order book. They only update price in 5 minutes interval. Also the tradition in China for small investors is to speculate in bucket shops with very little to go on besides the price on the stock they are trading. So are Chinese traders more of a gambling mentality? Do Btcchina really smell legit, have they improved? (I'm not Chinese, despite my signature) There has always been an orderbook as far as I am concerned. And according to the site frontpage, the local last price refreshes in real time, it's the referential Mt.Gox price that refreshes in 5 minutes interval.
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ElectricMucus
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February 25, 2013, 10:32:47 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Care for a link? I'd like to check that myself. I only see the yuan prices on their site. It's the front page of the site, right above the chart there are two tables, the right table displays Mt.Gox prices in both currencies, last/max/min prices, etc, the USD is converted into CNY in real time, and the rate is up to date, if you compare the equivalent CNY price to the left column btcchina price, which is displayed in CNY only, the btcchina price is consistently higher, though not by that much ATM We were talking about the past prices though. That's was I meant the yuan prices appear to have been lower in the past because the exchange rate yuan/usd is now higher.
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goldlyre
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February 25, 2013, 10:49:49 AM |
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It mean that a small splinter of Chinese young people have finally waked up and wanted to hurry up in order to participate in the game. As far as I know, even among the tech-savvying white collars in Shanghai, only smaller than 1% of them have ever heard of it or have some basic understanding of the crypto-currency. So my conclusion is: the potential is way too biiiiiiiiiiiiiiiiiiig!
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ElectricMucus
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February 25, 2013, 10:57:42 AM |
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We should get Kim Jong Un hooked on Bitcoin, he strikes me as the right type. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fgithub.com%2Fkuinak%2Femoji-cheat-sheet.com%2Fdiff_blob%2F785973ed44e7f7cb984989cfdeb4d79900a1a04d%2Fpublic%2Fgraphics%2Femojis%2Ftrollface.png%3Fraw%3Dtrue&t=665&c=SQy6w8kP8m8QOg)
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oakpacific
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 25, 2013, 11:01:43 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Care for a link? I'd like to check that myself. I only see the yuan prices on their site. It's the front page of the site, right above the chart there are two tables, the right table displays Mt.Gox prices in both currencies, last/max/min prices, etc, the USD is converted into CNY in real time, and the rate is up to date, if you compare the equivalent CNY price to the left column btcchina price, which is displayed in CNY only, the btcchina price is consistently higher, though not by that much ATM We were talking about the past prices though. That's was I meant the yuan prices appear to have been lower in the past because the exchange rate yuan/usd is now higher. At Jan 27th(I pick that day because price was relatively stable during the day), the yuan/usd rate was even higher at 1usd=6.22 yuan, the btcchina price, according to the chart on the frontpage(the "transaction price" could be seen by hovering the pointer over the data point), was ¥107.99/6.22=17.3633 usd, if btcchina uses Beijing time, the Mt.Gox price for the corresponding time-frame (it uses UTC) would be between 17.4-17.7 usd, if both use UTC time, Gox closing price would be 17.81, assuming, of course, that by "transaction price" btcchina means "closing price". Of course it is just one data point but this is generally in agreement with my own recollection. EDIT: oh I forgot bitcoinchart's datas of btcnCNY, http://bitcoincharts.com/charts/btcnCNY#rg60ztgSzm1g10zm2g25zv it was actually the closing price they display on the frontpage chart.
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ElectricMucus
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February 25, 2013, 11:08:30 AM |
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That sounds way too complicated dude.
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rpietila
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February 25, 2013, 11:37:48 AM |
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We should get Kim Jong Un hooked on Bitcoin, he strikes me as the right type. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fgithub.com%2Fkuinak%2Femoji-cheat-sheet.com%2Fdiff_blob%2F785973ed44e7f7cb984989cfdeb4d79900a1a04d%2Fpublic%2Fgraphics%2Femojis%2Ftrollface.png%3Fraw%3Dtrue&t=665&c=SQy6w8kP8m8QOg) Actually who is there to stop all kinds of unwanted people from parking a significant portion of their assets in bitcoins? If I were one, I would be glad to sell USD. Kind of waiting for the strategic acquisition race, when it finally starts in its earnest ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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jl2012 (OP)
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February 25, 2013, 11:38:28 AM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
What's interesting is btcchina had always traded at lower than Mt.Gox price, until recently. take into account the rising yuan. Btcchina displays the rate in both currencies. Care for a link? I'd like to check that myself. I only see the yuan prices on their site. It's the front page of the site, right above the chart there are two tables, the right table displays Mt.Gox prices in both currencies, last/max/min prices, etc, the USD is converted into CNY in real time, and the rate is up to date, if you compare the equivalent CNY price to the left column btcchina price, which is displayed in CNY only, the btcchina price is consistently higher, though not by that much ATM We were talking about the past prices though. That's was I meant the yuan prices appear to have been lower in the past because the exchange rate yuan/usd is now higher. At Jan 27th(I pick that day because price was relatively stable during the day), the yuan/usd rate was even higher at 1usd=6.22 yuan, the btcchina price, according to the chart on the frontpage(the "transaction price" could be seen by hovering the pointer over the data point), was ¥107.99/6.22=17.3633 usd, if btcchina uses Beijing time, the Mt.Gox price for the corresponding time-frame (it uses UTC) would be between 17.4-17.7 usd, if both use UTC time, Gox closing price would be 17.81, assuming, of course, that by "transaction price" btcchina means "closing price". Of course it is just one data point but this is generally in agreement with my own recollection. EDIT: oh I forgot bitcoinchart's datas of btcnCNY, http://bitcoincharts.com/charts/btcnCNY#rg60ztgSzm1g10zm2g25zv it was actually the closing price they display on the frontpage chart. I am very sure because in December and January's I kept buying in btcchina and selling in gox immediately
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Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY) LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC) PGP: D3CC 1772 8600 5BB8 FF67 3294 C524 2A1A B393 6517
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ElectricMucus
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February 25, 2013, 11:46:21 AM |
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We should get Kim Jong Un hooked on Bitcoin, he strikes me as the right type. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fgithub.com%2Fkuinak%2Femoji-cheat-sheet.com%2Fdiff_blob%2F785973ed44e7f7cb984989cfdeb4d79900a1a04d%2Fpublic%2Fgraphics%2Femojis%2Ftrollface.png%3Fraw%3Dtrue&t=665&c=SQy6w8kP8m8QOg) Actually who is there to stop all kinds of unwanted people from parking a significant portion of their assets in bitcoins? If I were one, I would be glad to sell USD. Kind of waiting for the strategic acquisition race, when it finally starts in its earnest ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) They already are. Some people here would make the Great Leader of the Korean People look like a muppet in comparison if placed in this position.
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niko
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February 25, 2013, 02:30:52 PM |
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On a related note, the BTC trades usually for 1-2 EUR higher on bitcoin.de.
Yep. Do you recall when it changed? It was trading only marginally higher last year. Is the rally driven by non-US people mainly? Since the rally started, gox usd and virtex cad are often off compared to the bank exchange, with canadian coins being more expensive. This was not the case so often before. Perhaps the rally is universal, but americans tend to sell off more ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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They're there, in their room. Your mining rig is on fire, yet you're very calm.
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Spekulatius
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February 25, 2013, 02:43:11 PM |
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Very well-informed article, and I could supplement it with the following picture, the Google trend for the Chinese phrase of "bitcoin": ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FALojTbCl.jpg&t=665&c=vXQ2tuD9PkGFkg) You need to look at Baidu trend since google is blocked by the Chinese government. >>>>>> http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2 <<<<<<The Baidu trend is still at about 60% of the 2011 bubble. However, it has increased by 4-time since 2013, with the peak during Avalon shipping. How come there are peaks for your search term in 2007 and 2008??? It it was "Bitcoin" there couldnt possibly be so large spikes. Care to explain?
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jl2012 (OP)
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February 25, 2013, 02:47:17 PM |
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Very well-informed article, and I could supplement it with the following picture, the Google trend for the Chinese phrase of "bitcoin": ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FALojTbCl.jpg&t=665&c=vXQ2tuD9PkGFkg) You need to look at Baidu trend since google is blocked by the Chinese government. >>>>>> http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2 <<<<<<The Baidu trend is still at about 60% of the 2011 bubble. However, it has increased by 4-time since 2013, with the peak during Avalon shipping. How come there are peaks for your search term in 2007 and 2008??? It it was "Bitcoin" there couldnt possibly be so large spikes. Care to explain? No, the default chart is only for the last month. For example, the peak "D" is the Avalon news on 4 Feb (2月4日). The year scale below is another graph for you to zoom in/out.
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Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY) LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC) PGP: D3CC 1772 8600 5BB8 FF67 3294 C524 2A1A B393 6517
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Richy_T
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February 25, 2013, 05:33:02 PM |
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The Chinese have an interest in displacing the dollar as the currency of choice for oil transactions. They're unlikely to be able to do that with their own currency. The Euro doesn't really help them and has its own issues in any case. Could they be looking at Bitcoin for the job?
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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