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Author Topic: Market is saying Tradehill is new leader?  (Read 2061 times)
NO_SLAVE
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June 27, 2011, 09:41:45 PM
 #1

I should say I have nothing to do with tradehill. and I only have some cash in the Gox.
Tradehill BTC has been trading at a premium to Gox BTC most of the day.
A signal that a premium is worth paying to have your funds in TH.
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June 27, 2011, 09:44:48 PM
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I disagree.

In all likelyhood, it just means that more people who want to sell have accounts at MtGox, and more people who want to buy have accounts at Tradehill.  Arbitrage will take care of the major discrepancies, but there will still be some differences in price that go uncorrected.
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June 27, 2011, 09:46:38 PM
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The bid price at trade hill is $16.75, the ask is $17.00. The bid at mt gox is $16.784, the ask $16.785. Tradehill is both cheaper and more expensive, depending on whether you are trying to buy or sell, always in the direction the costs you. The spread is just huge.

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cbeast
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June 27, 2011, 09:47:51 PM
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I am using the market to acquire BTC. How do I withdraw BTC from Tradehill?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
ptd
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June 27, 2011, 09:50:07 PM
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Not neccesarily. All this means is that buyers have more of a preference for TradeHill and sellers prefer Mtgox. When consider that long term bitcoin miners tend to be sellers and newbies tend to be buyers, this is a good sign for TH (new adopters, without prior bias, are choosing it over Mtgox). Ultimately the most important sign is volume and there TH is still behind (1/6 of Mtgox at the time of writing).
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June 27, 2011, 09:50:28 PM
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I am using the market to acquire BTC. How do I withdraw BTC from Tradehill?

Umm... click withdraw.

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NO_SLAVE
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June 27, 2011, 09:51:14 PM
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I think I will have to bold certain key phrases of my posts to be clearer.

Tradehill BTC has been trading at a premium to Gox BTC most of the day

bitcoinconnection
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June 27, 2011, 09:51:19 PM
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I like TradeHill, but I dont think they are the leader. Yet!
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June 27, 2011, 09:52:42 PM
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Quote
I am using the market to acquire BTC. How do I withdraw BTC from Tradehill?


You are not ready to use bitcoins, stay away.
cbeast
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June 27, 2011, 09:54:01 PM
 #10

I am using the market to acquire BTC. How do I withdraw BTC from Tradehill?

Umm... click withdraw.
Yes, but withdraw gives options for many currencies, but not bitcoins. That's fine if I want to exchange dollars for Euro, but not putting bitcoins in my wallet. If you can post a screenshot of withdrawing bitcoins from Tradehill I'd appreciate it.

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ptd
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June 27, 2011, 09:55:22 PM
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Allow me to turn what you have said on it's head.

Quote
Mtgox USD has been trading at a premium to TH USD most of the day.
A signal that a premium is worth paying to have your funds in gox.
mandros
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June 27, 2011, 09:57:13 PM
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I am using the market to acquire BTC. How do I withdraw BTC from Tradehill?

Umm... click withdraw.
Yes, but withdraw gives options for many currencies, but not bitcoins. That's fine if I want to exchange dollars for Euro, but not putting bitcoins in my wallet. If you can post a screenshot of withdrawing bitcoins from Tradehill I'd appreciate it.

One of the currencies is "BTC". Click there.
Horkabork
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June 27, 2011, 09:58:24 PM
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Tradehill has higher fees right now, especially considering that most active traders (those who had trades reverted after the flash crash) are playing with no fees.

So, when I'm comparing Tradehill to Mt. Gox for trading, I would have to buy lower and/or sell higher at Tradehill to match Mt. Gox.

Not to mention that the lower volume means longer time to find a trade, even at the same price. Time is money, and active, unfilled orders either ties up BTC or USD. The longer it takes to fill an offer, the more money you need to make per round trip.

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TriumVir
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June 27, 2011, 10:00:27 PM
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All this means is that buyers have more of a preference for TradeHill and sellers prefer Mtgox.
Might want to rethink that theory.
DamienBlack
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June 27, 2011, 10:00:41 PM
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Allow me to turn what you have said on it's head.

Quote
Mtgox USD has been trading at a premium to TH USD most of the day.
A signal that a premium is worth paying to have your funds in gox.

Excellent point, well made.

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ptd
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June 27, 2011, 10:01:59 PM
 #16

All this means is that buyers have more of a preference for TradeHill and sellers prefer Mtgox.
Might want to rethink that theory.

Explain?
TraderTimm
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June 27, 2011, 10:04:53 PM
 #17

Forget the bid/ask spread for a moment. What about volume? Isn't that the final arbiter?

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TriumVir
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June 27, 2011, 10:08:40 PM
 #18

Forget the bid/ask spread for a moment. What about volume? Isn't that the final arbiter?
MTGox is running at roughly 5 times the volume of TradeHill. That's way, way down from what it used to be . . . but, still, they remain the largest by quite a bit.
cbeast
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Let's talk governance, lipstick, and pigs.


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June 27, 2011, 10:09:35 PM
 #19

I am using the market to acquire BTC. How do I withdraw BTC from Tradehill?

Umm... click withdraw.
Yes, but withdraw gives options for many currencies, but not bitcoins. That's fine if I want to exchange dollars for Euro, but not putting bitcoins in my wallet. If you can post a screenshot of withdrawing bitcoins from Tradehill I'd appreciate it.

One of the currencies is "BTC". Click there.
[/quote
Thanks, I found that.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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