MTGox Announcement

[stephwen]

As foretold by Boys and girls, I got news : we’re being probed.

Probably time to point out that it's not MtGox who did "over 420,000 trades per month and USD $121 million monthly trade volume" - that's the users. MtGox's contribution is limited to preventing the other 580k or so trades per month that can't happen because they suck, generally speaking.

Much more interesting than releasing vague fluff of this sort (admittedly a step up from straight lying to the public, like here) would be some actual workable system. Your cue, dear MtGox, is as always MPEx: The many ways available for talking to MPEx.

Read that, learn from the only exchange in the world that traded just fine while being DDoS'd to crap, change your architecture to the correct one and actually start contributing something to the community (like stability, like dependability) rather than just leeching from it.

(Oh and by the way, MPEx charges 0.2% one way. Hint hint).

Now, there are some things we can improve, but so far we are doing an incredible job that no other exchange has been able to do so far.

This is a lie. You are the fuckwits that leaked the largest selection of bitcoiners' emails into the wild. You're the fuckwits that nigh-on destroyed Bitcoin in 2011 - and by your own arrogance, too, as you were being warned you're hackable for weeks and you ignored it because stupid people always think they know better.

You're not doing an extraordinary job, or even a good job. You are doing an extraordinarily crappy job, and the gall to lie about it is not buying you any friends. (And since we're on the topic: you were going to release some sort of partnership last month. You announcing something and then failing to deliver and then never mentioning it again is exactly the sort of shady bullshit we're discussing here).

Why don't the guys behind MPEX launch an exchange to compete with MtGox? 

[MPOE-PR]

Why don't the guys behind MPEX launch an exchange to compete with MtGox? 

Because MP stubbornly refuses to touch fiat.

[Savior]

If you don't like mtgox, stop using it then?

Without mtgox I would probaly never have been able to trade at all or lost coins to hacks etc.

Thanks for you hard work mtgox, ignore the haters. You are the best exchange!

~From a over 2 year old user of mtgox with no problems ever.

[justusranvier]

I couldn't find this posted on the forum but please read carefully:

It was posted in the correct area of the forum two hours before you started this thread: https://bitcointalk.org/index.php?topic=166578

[stephwen]

Why don't the guys behind MPEX launch an exchange to compete with MtGox? 

Because MP stubbornly refuses to touch fiat.

That's too bad, but I understand the position.

[justusranvier]

Economy is a good forum for this as well. Do you dare to say the contrary?

Announcements about services belong in the "Service Announcements" subforum. Duplicate threads are undesirable and considering the level of traffic in this forum could properly be classified as a DoS attack.

[nwbitcoin]

"Don't panic" a reference to "A Hitchhikers Guide to the Universe"? Like Pirate@40's last post: "Thank you for all the fish"!

?! This can't be a coincidence

It probably is a coincidence. In the demographic that includes English-speaking computer geeks between the ages of 30-45, knowledge of THHGTTG is nearly universal.

And you don't need a brain the size of a planet to know that!

[deeplink]

It is a mistake to think you can solve any major problems just with potatoes.

[MPOE-PR]

It is a mistake to think you can solve any major problems just with potatoes.

But suppose you make vodka....

[imsaguy]

It is a mistake to think you can solve any major problems just with potatoes.

But suppose you make vodka....

In Soviet Russia, Vodka makes potatoes.

[seleme]

Day trading is almost impossible with these lags.. you need to react in seconds and you can make orders in minutes, lol

[Dr3AM$cAp3]

The lag is annoying, and it is not normal. Take your business to other venues, boys! For most of us, the liquidity in Bitstamp is well enough.

Other points:
- incoming funds credited after 1-2 days, not 3-7 days
- lower fees
- I was verified the same day for 6-figure business, no hassles so far
- MtGox verification was 30 days, back last year

MtGox has always seemed like the Walmart of bitcoin to me and I just don't trust em(gut feeling, no real reason).
So far, bitfloor has been working well for me(it seems), but I have recently been wondering if there is anything I can do to protect the coin/usd I am playing with.  The coin I am saving is on an external HD, but it would be a hard hit if I lost the few I have on the floor right now.  

Experience based learning is rough at this point.  MPEx....

[KTE]

Why the fuck are you guys bitching about Mt. Gox day and night when you can just take your business to another exchange as rpietila says? It's not Mt. Gox's fault that you stay on what you think is a shitty exchange. Get a grip guys, stop moaning and do something about your own problems.

[rpietila]

Yeah, I don't have much problem with Mt.Gox; I have an account there but not much bother with it since:

- If I want to buy, it is so much faster to get money to BitStamp and therefore better price.
- If I want to sell, the price is better in BitStamp (and even better in btc24 or otc), also all the others credit your funds faster

Only masochist use Mt.Gox.

Oh well, I don't yet trust many coins in the smaller exchanges but with Gox I've learned to trust them 

[Tonko]

- If I want to buy, it is so much faster to get money to BitStamp and therefore better price.
- If I want to sell, the price is better in BitStamp (and even better in btc24 or otc), also all the others credit your funds faster

Good for you but from the US it is harder to get to BitStamp than Mt.Gox via Dwolla.

[slakeco]

- If I want to buy, it is so much faster to get money to BitStamp and therefore better price.
- If I want to sell, the price is better in BitStamp (and even better in btc24 or otc), also all the others credit your funds faster

Good for you but from the US it is harder to get to BitStamp than Mt.Gox via Dwolla.

So, what is the most ideal alternative for U.S. users compared to Mt.Gox and how far back into 2nd place are they in terms of volume and ease of funding? It seems to me that Mt.Gox is the most widely used for a reason or a few.

[justusranvier]

So, what is the most ideal alternative for U.S. users compared to Mt.Gox and how far back into 2nd place are they in terms of volume and ease of funding? It seems to me that Mt.Gox is the most widely used for a reason or a few.

Bitfloor is the easiest exchange to get dollars into. Their volume is tiny though compared to Mt Gox.

[BitcoinAshley]

Good for you but from the US it is harder to get to BitStamp than Mt.Gox via Dwolla.

So, what is the most ideal alternative for U.S. users compared to Mt.Gox and how far back into 2nd place are they in terms of volume and ease of funding? It seems to me that Mt.Gox is the most widely used for a reason or a few.

Going to a Bank of America branch and depositing cash and seeing it in your Bitfloor account in 2 hours is pretty easy. In fact I'll be doing that tomorrow morning. Sure MtGox has volume but what good is volume if your trade lags and you end up blindly buying into the top of a spike? Then you have to wait another week to start seeing a return. 
Of course, if you like waiting 8-10 business days total, you can also ACH -> CapitalOne360 checking, and "CapitalOne360 P2P Payment" -> Bitfloor. And I'm sure there are similar options with at least one or two other exchanges besides Mt.Gox. Additionally, there is also LocalBitcoins, which it seems many people haven't bothered to look into but is another easy way to get coinz; obviously not for the daytraders though.

Oh yeah, as for P2P exchanges - isn't there something on freenet that's being tested? If you desire a p2p exchange, find one of those projects and help test it. Reminds me, I've been meaning to check that out. More testers and eventually P2P exchanges will become common - and we will get rid of the "banksters" once and for all. Half these centralized BTC exchanges could be doing the fractional reserve nasties behind our backs.

[justusranvier]

Half these centralized BTC exchanges could be doing the fractional reserve nasties behind our backs.

The secret is to always pull your bitcoins off the exchange as soon as your are done buying them. Then even if they are operating on a fractional reserve you won't end up being the bagholder.

[ABitBack]

"Don't panic" a reference to "A Hitchhikers Guide to the Universe"? Like Pirate@40's last post: "Thank you for all the fish"!

Or Dads army?