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Bitcoin Forum > Economy > Trading Discussion > MT GOX no trade fee for the weekend
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kisindahouse (OP)
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November 29, 2013, 03:57:29 PM
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Why do you guys think they did that? I'm sure it is not for altruistic reasons…

Would like to hear your thoughts on that.

Thanks!
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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November 29, 2013, 04:15:45 PM
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I'm really bothered with this (from their mail):

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Additional Points:

To increase the speed of Bitcoin transactions, we will now require all Bitcoin transfers to pay the standard 0.001 BTC network fee. The fee will be charged separately from your balance."

At current price that is 1.16 US$ ! Its still cheap compared to legacy transaction fees, but damn!
Standard transaction fee should be 0.0001 BTC/kB - 10 times less!

Also note that they join transaction when they submit them to the network - will they pass all those fees to miners? 0.1 BTC for 100 withdrawals? I don't think they will ...
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November 29, 2013, 05:41:56 PM
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It gets volume back, brings their name to all the new people who haven't heard about bitcoin etc.

Look guys 90% of the volume is Mt. Gox. Guess I know where I'm going to trade.

Also it's a good way to help equalize prices with the other sites.
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