Bitcoin 24 hr Vol USD 3 - 4 billions recently!

[thinair]

There is a figure in bitfinex chart on BTC:
24 hr volume = USD 3 - 4 billions recently!

What does it mean? Half a million bitcoins changing hands daily?

It's an enormous market

[BrewMaster]

it has been like this for a while now. and what did you expect when bitcoin is being advertised on the media and every big and small players are talking about it, that attracts a lot of money towards bitcoin. despite the current fall the buy support is strong and huge because of all that.

and by the way it is $5.5 billion dollar in past 24 hours according to coinmarketcap.com which adds the volume of all the exchanges. about $900 million of it belongs to bitfinex

[thinair]

it has been like this for a while now. and what did you expect when bitcoin is being advertised on the media and every big and small players are talking about it, that attracts a lot of money towards bitcoin. despite the current fall the buy support is strong and huge because of all that.

and by the way it is $5.5 billion dollar in past 24 hours according to coinmarketcap.com which adds the volume of all the exchanges. about $900 million of it belongs to bitfinex

At such volume of $900 million per day, the profit of these exchanges are fabulous. There is arbitrage profit as it should be written into their trading platform - sure win;then the transaction fees. Platform market making is again a no risk profit.

I know how to write the software for a trading engine. But how to get the license to run one? What initial capital needed?

[dothebeats]

Arbitrage trading and traders who look into getting some profits by shorting. It's incredible how much an exchange is making day by day just by facilitating the trades happening on their site. Obviously some traders are cashing the uncertainty between BTC and BCH while everyone seems to be puzzled at what to do next.

I know how to write the software for a trading engine. But how to get the license to run one? What initial capital needed?

It would be a long tedious process. You need to battle it out on SEC since they're the ones handling AML/KYC concerns which is essential for an exchange to operate legally.