[Poll] The next big exchange

[pera]

I hope at least that after this crash we've learned something...

[1714964172]

1714964172

[1714964172]

1714964172

[1714964172]

1714964172

[1714964172]

1714964172

[adamstgBit]

cavirtex

I know, I know, its dealing in funny multi colored canadian money.

but it will become a big part of bitcoin moving forward.

my deposit took 7 fucking minutes!   

[Tomatocage]

Coinsetter.com

[jinni]

Come on. Bitcoin-24 is already the second biggest exchange. It works, you don't have to supply an identity, it has no fees for trading and it has low fees and fast transfers (in europe at least).

[Zangelbert Bingledack]

I voted Bitstamp just because it's the only one I've heard nothing bad about, but what about CoinLab?

[pera]

I voted Bitstamp just because it's the only one I've heard nothing bad about, but what about CoinLab?

Didn't CoinLab merged with MT.Gox?

[Zangelbert Bingledack]

I'm not sure exactly. I hope they are separate.

Also, what about TradeHill?

[epetroel]

I'm not sure exactly. I hope they are separate.

Also, what about TradeHill?

Or CampBX, they've been around forever.

[NikolaTesla]

Coinbase is a direct BTC merchant not an exchange. But so far, they seem to have acted the most responsibly and have not any any problems that I know of.

[wonkytonky]

bitfinex .. 0.1%fee

[chrsjrcj]

MtGox. Because people don't learn.

[Zangelbert Bingledack]

Bitpay seems like the most competent company in the ecosystem. Why don't Bitpay open some kind of exchange?

[XXthetimeisnowXX]

Coinbase is a direct BTC merchant not an exchange. But so far, they seem to have acted the most responsibly and have not any any problems that I know of.

yep not to bad but some tinfoil hat told be it was ownded by a big bank??? anyways im a big idiot and just bought 10 more coins at 108 each. stupid stupid stupid!!!

[XXthetimeisnowXX]

Coinbase is a direct BTC merchant not an exchange. But so far, they seem to have acted the most responsibly and have not any any problems that I know of.

yep not to bad but some tinfoil hat told be it was ownded by a big bank??? anyways im a big idiot and just bought 10 more coins at 108 each. stupid stupid stupid!!!

[Zangelbert Bingledack]

BitPay seems to be by far the most competent company in the Bitcoin eosystem. I wish they'd open an exchange.

[XXthetimeisnowXX]

Coinbase is a direct BTC merchant not an exchange. But so far, they seem to have acted the most responsibly and have not any any problems that I know of.

yep not to bad but some tinfoil hat told be it was ownded by a big bank??? anyways im a big idiot and just bought 10 more coins at 108 each. stupid stupid stupid!!!

[Pruden]

Thanks for the heads-up on Bitcoin-24.

I am very happy with Bitstamp: The only outages they have suffered happened after MtGox , and at least they show some awareness of their surroundings: They have hedged against Cyprus style confiscation in Slovenia by taking the form of a British firm. And its nice design makes it easy to trading on an smartphone.

[cilphex]

If there were any exchange matching all 3 of these properties, it would be my first pick:

1) It has decoupled its trading platform from its web platform, so that a DDOS only brings down the public-facing website, and doesn't majorly lag all trading

2) It is smart enough to pause trading when they're unable to process the orders they already have

3) It can prevent bots that place 100 micro trades/minute from swamping their system, if it's something they cannot handle

I don't think MtGox has any of these.  Not sure if any others do.

[NikolaTesla]

Coinbase is a direct BTC merchant not an exchange. But so far, they seem to have acted the most responsibly and have not any any problems that I know of.

yep not to bad but some tinfoil hat told be it was ownded by a big bank??? anyways im a big idiot and just bought 10 more coins at 108 each. stupid stupid stupid!!!

No it's a Silicon Valley startup and they got venture capital from Y-Combinator, a VC in Silicon Valley.

One of the owners was a former Goldman Sachs trader. That doesn't mean Goldman Sachs owns Coinbase. Coinbase is an independent startup.

[simplydt]

I vote for bitcoin-24; really awesome interface and site overall. Too bad apparently its a one man show, if he had a team, the site would be ace.

[Mae]

I vote for bitcoin-24; really awesome interface and site overall. Too bad apparently its a one man show, if he had a team, the site would be ace.

Yeah, I saw a personal name in the info tu add funds in Euro. So you are sending the wire to a fisical person or some kind of solo trader... that's pretty amateur. The web looks outstanding.

[pretendo]

If there were any exchange matching all 3 of these properties, it would be my first pick:

1) It has decoupled its trading platform from its web platform, so that a DDOS only brings down the public-facing website, and doesn't majorly lag all trading

2) It is smart enough to pause trading when they're unable to process the orders they already have

3) It can prevent bots that place 100 micro trades/minute from swamping their system, if it's something they cannot handle

I don't think MtGox has any of these.  Not sure if any others do.

For number 3, all they have to do is add a fixed cost and lower the percentage cost. Make the fixed cost 50 cents in USD equivalent in btc. That will discourage tiny orders.

[twmz]

I would have voted for campbx if it was a choice.

I want to like places like bitstamp, but practically speaking, without either Dwolla, ACH, or US domestic wire transfers, I can't get money out of the exchange.

[TomRado]

I vote for bitcoin-24; really awesome interface and site overall. Too bad apparently its a one man show, if he had a team, the site would be ace.

I second that. Worked beautifully the last few days and after all it has second highest volume already.

[w00t]

Come on. Bitcoin-24 is already the second biggest exchange. It works, you don't have to supply an identity, it has no fees for trading and it has low fees and fast transfers (in europe at least).

really? even if you want to buy more than 10k EUR worth of BTC?

[pera]

wow MT.Gox is winning?   _{meanwhile we are being gox'd for the third time... on the last 24hs.....}

[creativex]

wow MT.Gox is winning?  _{meanwhile we are being gox'd for the third time...}

Some people never learn. The same group of informed voters will probably try using their BFL discount vouchers.

[jl2012]

None of these.

All existing exchanges actually perform WORSE than mtgox. They were looking good simply because they had very low volume.

Before we have a more decentralised solution (e.g. Ripple), we need a new and really professional exchange, possibly running by existing traditional currency exchange platform.

[Wuji]

I don't want another big exchange.  I'd rather see each handling 5% of total BTC and spread the load around to mitigate DDOS.

[NikolaTesla]

Bitfloor is actually pretty good when they are UP. They're live order book and depth chart provides some extra insight into the open orders and can help you with trading strategy. They also confirm bank transfers in 30 minutes - not days like all the others.

[pinger]

Other, is not created yet.

[noedaRDH]

People have been pointing out that Gox is one of Bitcoin's biggest setback for a very very time long time (especially after the '11 crash).

I don't expect another big exchange to replace Gox any time soon. Not unless some truly motivated big players with a lot of capital move in.

Even then, there's nothing to guarantee that the next big exchange will be any better.

[btcx]

Kraken.com

https://bitcointalk.org/index.php?topic=159974.0

pm me for beta access.

[juve4v]

Bitstamp! I'm using it for 6 months by now without any issues.

[Pteppic]

The past couple of days have shown that when gox is down, the other exchanges can't cope with the overflow and they go down too. I accidentally put my user ID in wrong on Bitstamp and it turns out there are only 5 spaces there, so they hadn't even imagined getting over 100,000 accounts. Bitfloor have been down a good part of the last 18 hrs and have some mysterious holds on my funds (which have all been deposited since the return from the hack).

I seriously doubt that any of the other exchanges has the capacity or the resources to scale bigger than gox. Compared to what they could and should be doing, they are rubbish, but compared to where the other exchanges are, gox are still miles ahead.

[creativex]

The past couple of days have shown that when gox is down, the other exchanges can't cope with the overflow and they go down too. I accidentally put my user ID in wrong on Bitstamp and it turns out there are only 5 spaces there, so they hadn't even imagined getting over 100,000 accounts. Bitfloor have been down a good part of the last 18 hrs and have some mysterious holds on my funds (which have all been deposited since the return from the hack).

I seriously doubt that any of the other exchanges has the capacity or the resources to scale bigger than gox. Compared to what they could and should be doing, they are rubbish, but compared to where the other exchanges are, gox are still miles ahead.

Other crypto exchanges have lacked the resources and the necessity to scale. That will change with this latest installment of Gox incompetence. The fiat world has many small operations that handle many timex Gox's volume without hiccup. Another exchange will step up and surpass Gox.

[donjoe]

I hope at least that after this crash we've learned something...

No, you have clearly not learned what you were supposed to learn, since you're still talking about "one big exchange", i.e. the perpetuation of the same kind of problem.

There should not be "one big exchange", so the only correct answer above is "Other".

[donjoe]

Come on. Bitcoin-24 is already the second biggest exchange. It works, you don't have to supply an identity, it has no fees for trading and it has low fees and fast transfers (in europe at least).

Oh yeah, "it works". Have you tried loading the page today?
Also, https://bitcointalk.org/index.php?topic=171307.msg1816958#msg1816958

[dacoinminster]

Tradehill 2.0 should be on the list of options!

[Photonfrog]

I don't see any of the competitors having much of a chance at disrupting the natural monopoly that mtgox is sitting with. Competitors would need to significantly step up their marketing costs to begin eating market share.

As someone noted all the other exchanges failed when they tried handling the trades which fled gox when it shut down.

To compete with gox you are attacking a defensive market incumbent. You need a factor 7 of funding of the incumbent to have a decent shot at winning. None of the other exchanges is currently close at having such resources. The best they can do is to attack as an underdog and try pick off accounts from gox at a slow pace. Will take years for such a transition at best.

[Francesco]

Vircurex? If ther's BTC-e...

[centove]

I'd say kraken.com if it ever goes live so one can see how it will deal with the volume.

bitfloor.com seems to be nice and easy to get funds in and out of but man it's just as flakey as mtgox up down, market data not updating.. etc...

[vinny]

CampBX which seems to be most serious about security.