No more free trades

[Elwar]

As of midnight tonight there will be no more 0% trades on MtGox.

This will most likely result in larger spreads.

I am not sure which way this will make things go but I have $5k in cash and ~$5k in BTC waiting for any big swings this might cause.

Tomorrow should be interesting.

[Edward50]

Technically speaking, the price of the bitcoin should go lower when you remove the free trades. The reason for this is simple economics, or more put it is like a tax. When  you now have to pay comission on a transfer, the price people will pay for a bitcoin will be lower.

SELL SELL SELL

[Coolhwip]

Yeah because sellers don't have the option to increase their price to compensate for the fees

You should stick to qualifying absolutes, that usually always works out well for you.

[tomcollins]

Yeah because sellers don't have the option to increase their price to compensate for the fees

You should stick to qualifying absolutes, that usually always works out well for you.

But the buyers will lower their prices to compensate for the fees, so who wins?

[notme]

Yeah because sellers don't have the option to increase their price to compensate for the fees

You should stick to qualifying absolutes, that usually always works out well for you.

But the buyers will lower their prices to compensate for the fees, so who wins?

Whoever has the stronger desire.  Fees just lower liquidity so people can't put up a spread unless it is fairly large. Without fees, I could buy 2 cents bellow my sell and walk away happy.

[Bigpiggy01]

There are still free trades if you look at other exchanges like Britcoin and Intersango USD and Euro.

I know they don't have this most fantastic volumes but still they are there.