dynodog (OP)
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Merit: 10
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January 12, 2014, 08:01:24 PM |
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Any idea why this massive spread continues to exist between gox and bitstamp as well as btc-e? I figure that no miners use mtgox bc of the withdrawal issues that gox had (and maybe continues to have), and that miners are constantly selling to cover overhead. Wondering who would continue to deposit new money into gox and pay such a massive premium? Anyone know where the ATMs set up throughout the globe go through? Having a hard time figuring this one out.
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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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joesmoe2012
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January 12, 2014, 09:38:01 PM |
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Because its difficult to deposit to btc-e and timely/costly to withdraw from gox.
There have been dozens of threads asking the exact same thing.
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Forexperiments
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January 12, 2014, 09:43:34 PM |
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Uhm. I just went to see. Three months ago I opened an account on mtgox, sent my id and then forgot. It still says: Your account verification request has been received, and will be reviewed within the next 20 business days. Three months ago it said 10 business days. The faq says for withdraw by bank deposit it might take up to 8 weeks. That means 30-40 weeks, i guess. |
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phr0stbyt3
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January 27, 2014, 09:03:03 PM |
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At the time of writing this the spread between mtgox and bitstamp/btc-e is greater than $200.  Is gox really that insolvent? |
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Sonny
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January 28, 2014, 01:58:58 AM |
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At the time of writing this the spread between mtgox and bitstamp/btc-e is greater than $200.
Is gox really that insolvent?
Maybe. I mean, seriously who is really buying or selling bitcoin there? If there is little trading there, mtgox will only receive little trading fee, and the insolvency problem can only be worse and worse. |
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Forexperiments
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January 28, 2014, 09:16:38 AM |
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I mean, seriously who is really buying or selling bitcoin there?
Right NOW, the volume of trading on MtGox is 12500 BTC, that's almost TWENTY times the trading volume on kraken.com |
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Hexah
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January 28, 2014, 11:44:31 AM |
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Because its difficult to deposit to btc-e and timely/costly to withdraw from gox.
There have been dozens of threads asking the exact same thing.
This. Also, I think it's not even btc-e deposit that should take the blame. It's impossibility to withdraw from gox. No matter how hard you try. |
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Std52stp
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January 28, 2014, 02:33:08 PM |
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Because its difficult to deposit to btc-e and timely/costly to withdraw from gox.
There have been dozens of threads asking the exact same thing.
This. Also, I think it's not even btc-e deposit that should take the blame. It's impossibility to withdraw from gox. No matter how hard you try. Yes I think so, however I could not to prove it with my own experience, I dont have so much USD or BTC to buy large amounts on Bitstamp and sell it on MtGox. |
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Coinraptor
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Activity: 257
Merit: 10
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January 28, 2014, 02:36:26 PM |
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actually it looks like every exchange is 100 eur lower, so problem should really Mtgox withdrawal... crazy.
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cz_miner
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January 28, 2014, 02:47:11 PM |
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MTgox price is higher, but it doesn't matter as you can not withdraw fiat in a timely manner. Many users experience weeks delays with their withdrawal requests for USD or EUR. On the other hand Bitstamp and btc-e are very efficient when it comes to wire transfer withdrawals. It take 24-72 hours max for the money to reach the account.
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phr0stbyt3
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January 28, 2014, 03:01:34 PM |
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MTgox price is higher, but it doesn't matter as you can not withdraw fiat in a timely manner. Many users experience weeks delays with their withdrawal requests for USD or EUR. On the other hand Bitstamp and btc-e are very efficient when it comes to wire transfer withdrawals. It take 24-72 hours max for the money to reach the account.
The last time I tried to withdraw fiat from gox back in late 2012 it took about 10 weeks. I can only imagine how long the wait is today. |
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cz_miner
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January 29, 2014, 07:52:14 AM |
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MTgox price is higher, but it doesn't matter as you can not withdraw fiat in a timely manner. Many users experience weeks delays with their withdrawal requests for USD or EUR. On the other hand Bitstamp and btc-e are very efficient when it comes to wire transfer withdrawals. It take 24-72 hours max for the money to reach the account.
The last time I tried to withdraw fiat from gox back in late 2012 it took about 10 weeks. I can only imagine how long the wait is today. The only logical way to work with GOX, as i see it, is to deposit coins, play around on price volatility and withdraw coins as well. Do not deal with fiat at all there. |
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MikeXBT
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January 29, 2014, 04:03:07 PM |
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I mean, seriously who is really buying or selling bitcoin there?
Right NOW, the volume of trading on MtGox is 12500 BTC, that's almost TWENTY times the trading volume on kraken.com Kraken is a very low volume exchange, hardly a good comparison. Compare it's volume to those of Bitstamp and BTC-E. |
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Forexperiments
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January 29, 2014, 04:06:41 PM |
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Just a comparison, because the service offered by kraken.com is 100 times better than mtgox
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