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Author Topic: Why?  (Read 1709 times)
lardycake
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June 21, 2011, 11:23:10 AM
 #1

MtGox
http://i.imgur.com/xbiA6l.jpg

TradeHill
http://i.imgur.com/0Dp6jl.jpg

Britcoin
http://i.imgur.com/Mo5mnl.jpg

All the high rollers in MtGox?

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Jack of Diamonds
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June 21, 2011, 12:17:22 PM
 #2

Because it's the only "real" exchange. The other ones have a long way to go before becoming professional.

99% of exchanges are member-to-member, which means

1. Lots of fake and canceled bids
2. If user pays with Paypal then there is a high risk you are being scammed by chargeback
3. Low liquidity.

On Mt. Gox you can add funds by wire transfer, withdraw by wire transfer, and the server automates all trades (you can only bid & sell if you have funds in your account). That's why it achieves huge liquidity.

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hamdi
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June 21, 2011, 12:19:16 PM
 #3

tradehill will catch up

Vanquistador
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June 21, 2011, 02:03:43 PM
 #4

tradehill will catch up

QFT

Or rather:  "I'm hoping TradeHill catches up"
Alex Beckenham
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June 21, 2011, 02:40:23 PM
 #5

tradehill will catch up

I think so too Smiley


danuker
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June 21, 2011, 04:02:49 PM
 #6

Mt. Gox, Tradehill and Bitcoin 7 should all be "up". There should be no single point of failure in our network. If we have no way of converting USD to BTC and back, Bitcoin is practically sealed off from most of the world.

The more exchanges there are, the better it is. There can also be competition between them, leading to better prices.
kjj
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June 21, 2011, 04:24:34 PM
 #7

Mt. Gox, Tradehill and Bitcoin 7 should all be "up". There should be no single point of failure in our network. If we have no way of converting USD to BTC and back, Bitcoin is practically sealed off from most of the world.

The more exchanges there are, the better it is. There can also be competition between them, leading to better prices.

And more importantly, competition between them will lead to better practices.

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Grinder
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June 21, 2011, 04:30:26 PM
 #8

Tradehill doesn't support European transfer methods and basically pays people to spam about them. Either is enough that I won't use them.
zale
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June 21, 2011, 04:36:33 PM
 #9

Tradehill doesn't support European transfer methods and basically pays people to spam about them. Either is enough that I won't use them.
I don't have a problem with the spam as long as you have lower fees. The European Transfer methods are the real problem. It's online for 2 weeks now and there is still nothing, so as long have half of the BTC community can't use Tradehill its no competition to MtGox
KorJax
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June 21, 2011, 08:24:43 PM
 #10

Meh, as a USD user the lack of euro trading doesn't really affect me.

There are more than enough trades to keep the system moving at a good pace, fair price and for me to be able to quickly buy and transfer BTC which is why I'm liking tradehill, Plus it generally runs smoother and is more stable than Mt. Gox to me.

It would be nice obviously for Euro to be supported, as well as GBP

Jack of Diamonds
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June 21, 2011, 09:54:37 PM
 #11

This is what I do:

Bank > £ > Euro Exchange > ฿ > Tradehill > $
$ > Tradehill > ฿ > Euro Exchange > £ > Bank

If you time it right you can make profit when travelling in either direction.

Or bank --> Mt Gox --> bank.
Time a purchase after market has panicked more than 40% of daily opening. Sell when it rises 20% or more and withdraw.

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gigitrix
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June 22, 2011, 03:33:06 PM
 #12

Britcoin is stable enough if it's relevent. Low volume, but it doesn't seem to fluctuate as wildly: it's less volume but less overall population that will use it I guess, seems like all the mad investors are trying to play with bigger exchanges for faster turnaround and more opportunity to "correct" wider swings.
cothoms
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June 22, 2011, 05:32:13 PM
 #13

The more exchanges there are, the better it is. There can also be competition between them, leading to better prices.

Absolutely.  Much in the same vein of BTC:  decentralize!

Not a miner.  An investor, speculator, and enthusiast.
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