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Author Topic: How does Mt. gox sell the BTC's they've earned?  (Read 1332 times)
Bitcoin Swami
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August 29, 2011, 06:12:53 PM
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Don't they earn btc's from every trade as well as USD?

Are they the huge 25k dumps we always see or do they do it slowly in the background?

Just wondering.
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August 29, 2011, 06:14:29 PM
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why would they sell?  Huh

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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August 29, 2011, 06:19:58 PM
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why would they sell?  Huh

Same reason you or me sell? to pay some bills? Hookers? Renting midgets for Bday parties?
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August 29, 2011, 06:22:15 PM
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why would they sell?  Huh

Same reason you or me sell? to pay some bills? Hookers? Renting midgets for Bday parties?
they earn USD as well... it should be enough to pay the bills

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
Callius
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August 29, 2011, 07:18:58 PM
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They can sell on their own market too? All money that's trasnfered to them for use on their site they hold but can't use for paying bills obviously, so they can just fill buy orders and free up the help USD for use in the company if they wanted too. I doubt they'd do it all at once as then they'd drop the market price and get less compared to doing it in small amounts, that and I doubt they'd let the business get to a point where they'd need to this in any scale anyway.
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August 29, 2011, 08:24:43 PM
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why would they sell?  Huh

Same reason you or me sell? to pay some bills? Hookers? Renting midgets for Bday parties?
they earn USD as well... it should be enough to pay the bills

Looks like they've made about 8k btc's in the last 30 days or somewhere around there.  If they're holding them thats great, but it would be nice to be more open about it.  If they sell they get to collect fees again from the unsuspecting buyer.  Not saying this is the case but you never know these days.
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August 29, 2011, 08:36:48 PM
 #7

If they sell they get to collect fees again from the unsuspecting buyer.

How are they any different than any other seller?
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August 29, 2011, 08:47:45 PM
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If they sell they get to collect fees again from the unsuspecting buyer.

How are they any different than any other seller?


Guess they aren't much different.
miernik
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August 29, 2011, 10:03:24 PM
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Looks like they've made about 8k btc's in the last 30 days or somewhere around there.  If they're holding them thats great, but it would be nice to be more open about it.  If they sell they get to collect fees again from the unsuspecting buyer.  Not saying this is the case but you never know these days.


You write in a tone as if this would be something "wrong". Any why would you want to know what do they do with their money, be it BTC, or USD, or do they exchange one to the other. Does MtGox ask you how do you spend your money?

They can exchange their USD or BTC one way or the other on their own exchange like any other customer, and its nobody's else business. I bet they trade them back and forth whenever its convenient for them or they see opportunity for profit, be it for falling/rising exchange rate, or just for the extra 0.65%. The more they trade it, the better for the market because it gets more liquidity.

Anyone whining about them making an extra 0.65% out of the 0.65% fees they already made, should just mind his own business, instead of picking at perfectly legitimate trading.

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August 29, 2011, 10:52:35 PM
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Looks like they've made about 8k btc's in the last 30 days or somewhere around there.  If they're holding them thats great, but it would be nice to be more open about it.  If they sell they get to collect fees again from the unsuspecting buyer.  Not saying this is the case but you never know these days.


You write in a tone as if this would be something "wrong". Any why would you want to know what do they do with their money, be it BTC, or USD, or do they exchange one to the other. Does MtGox ask you how do you spend your money?

They can exchange their USD or BTC one way or the other on their own exchange like any other customer, and its nobody's else business. I bet they trade them back and forth whenever its convenient for them or they see opportunity for profit, be it for falling/rising exchange rate, or just for the extra 0.65%. The more they trade it, the better for the market because it gets more liquidity.

Anyone whining about them making an extra 0.65% out of the 0.65% fees they already made, should just mind his own business, instead of picking at perfectly legitimate trading.

I wasn't whining I am merely curious.   I did not complain once about the trade fees, I find them quite reasonable actually.  I don't even use them, but they do have an effect on the overall bitcoin market.
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August 30, 2011, 10:28:39 AM
 #11

Don't they earn btc's from every trade as well as USD?

Are they the huge 25k dumps we always see or do they do it slowly in the background?

Just wondering.

We don't sell those BTC.

Instead we use those (for example for bitomat).

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August 30, 2011, 07:18:25 PM
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thanks mark thats great to hear!
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August 30, 2011, 07:34:27 PM
 #13

whether they sell the BTC on their own exchange site, hold,  or sell it to bitomat, who cares?? it's their money, they're entitled to do whatever they want with it. no one cares what you do with your money/coins

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August 31, 2011, 01:44:25 PM
 #14

whether they sell the BTC on their own exchange site, hold,  or sell it to bitomat, who cares?? it's their money, they're entitled to do whatever they want with it. no one cares what you do with your money/coins

People are worried because as an exchange we could know when large buyers or sellers are getting ready to enter the market, and we could manipulate the market beforehand to profit from it.

That's one reason that makes it practically impossible for us to buy or sell bitcoins.

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