Real Newbie Question: different exchanges, different prices

[Mehretu]

Just looking at the sometimes almost $10 differene in 'price' between MtGox and BTC-e and wondering what drives this/ how come it's not being arbed away?

It doesn't seem like the order book is too thin to make the trades or a lag thing.

Do BTC-e have big charges which make it unworthwhile or something?

Any insight appreciated.

[surrealisttrader]

i've never tried it i must say . but have you would have to considered the withdraw fees on btc-e and gox fees , i think gox might be like 4 percent and btc-e ... 2 -3 ? .

[Mehretu]

i've never tried it i must say . but have you would have to considered the withdraw fees on btc-e and gox fees , i think gox might be like 4 percent and btc-e ... 2 -3 ? .

Thank you for your thoughts.
I would have thought it had to be the movement of money into BTC-e that has the high charges. They surely cant justify charging high prices for moving Bitcoin out.

[Sapphire]

I've recently noticed the same. BTC-e is stably ~$10 lower on BTC/USD rate than MtGox. It would even be profitable if we could move USD from Gox to BTC-e fast and cheap. But it seems there is no way...

[IslandGuy]

Does anyone have any information about:

     Payward, Inc.,  Jesse Powell and  Walter Stanish

They are the people starting a new exchange at www.kraken.com.
I've looking for some background information that is outside the bitcoin world.

The site looks really good however I've been burned a couple times already with small exchanges.

[zrgf]

The volumes on all the exchanges (even Mt Gox if you think about it) are so low that if you want a realistic spot price, your best bet is looking at weighted average, otherwise you're just seeing the latest bid on one site vs the latest bid on another.

[jolonnar]

It's because it's very hard to get USD onto btc-e versus Gox (plus some believe btc-e can be a little shady and would rather not hold anything there)

[btcx]

Does anyone have any information about:

     Payward, Inc.,  Jesse Powell and  Walter Stanish

They are the people starting a new exchange at www.kraken.com.
I've looking for some background information that is outside the bitcoin world.

The site looks really good however I've been burned a couple times already with small exchanges.

Hey IslandGuy,

Glad you like the site.  It's nice to see people actually doing some diligence before handing their money over to total strangers.  What kind of background info are you looking for?

Here's my linkedin:  http://www.linkedin.com/in/jessepowell
hardly used blog:  http://jesse.forthewin.com/
non-profit arts center in Sacramento, CA that I founded:  http://vergeart.com/about

I've been to all the Bitcoin conferences and most of the SF Bay Area meetups.  I've met most other Bitcoin business owners at one time or another.  Happy to provide more info, do skype video interview with community or whatever.

[IslandGuy]

Does anyone have any information about:

     Payward, Inc.,  Jesse Powell and  Walter Stanish

They are the people starting a new exchange at www.kraken.com.
I've looking for some background information that is outside the bitcoin world.

The site looks really good however I've been burned a couple times already with small exchanges.

Hey IslandGuy,

Glad you like the site.  It's nice to see people actually doing some diligence before handing their money over to total strangers.  What kind of background info are you looking for?

Here's my linkedin:  http://www.linkedin.com/in/jessepowell
hardly used blog:  http://jesse.forthewin.com/
non-profit arts center in Sacramento, CA that I founded:  http://vergeart.com/about

I've been to all the Bitcoin conferences and most of the SF Bay Area meetups.  I've met most other Bitcoin business owners at one time or another.  Happy to provide more info, do skype video interview with community or whatever.

I was looking for another person or company with a national reputation, that had a connection with you or one of you organization.  I'm sure your popular in the Bay area.  I'm from another country.  So I would prefer to  see some more press and someone with a popular reputation give their opinion on you or your  exchange.   

I appreciate you responding to the post.  I've been listening to a new podcast on Bitcoins called "Let's Talk Bitcoins".
They are always looking for good people in the Bitcoin world to interview.  I'm positive he world like to interview you.

      http://letstalkbitcoin.com/
      adam@letstalkbitcoin.com

Should I tell him to contact you for an in depth interview of how your exchange is better that what's available now.
Also how your exchange is going to handle the attacks or very high demand when Bitcoins get's really popular.

Even more important how your lawyers are going to hold off the Feds when they come.