New Bitcoin Exchange (mtgox.com)

[Anonymous]

Added $10, was credited with $9.41.  I assume this is a 5.9% PayPal fee?

Paypal really needs to be brought down a peg or two.

[mtgox]

Paypal really needs to be brought down a peg or two.

Big time. I'm really hoping bitcoin makes a huge dent in them. It annoys me so much that they get 5.9% for running one UPDATE statement in their database.

[Anonymous]

Paypal really needs to be brought down a peg or two.

Big time. I'm really hoping bitcoin makes a huge dent in them. It annoys me so much that they get 5.9% for running one UPDATE statement in their database.

The thing that annoys me is that google checkout does exactly the same thing.Bitcoin end to end transactions are a nice dream.

[BitCoinPurse]

MTGOX needs a disclaimer for the PayPal fees.

Also the buy and sell prices are coming together now:  HIGH/LOW Buy @0.0969 Sell @0.09216.

I'd expect the H/L values to even out at the acceptable market rate, and I'm shocked the BTCs are about a dime each!

[SmokeTooMuch]

that's not really what I'm afraid of, but thats an issue too.

hmm, but still, in theory, it would be possible for someone with physical access to your RAM to read my password, wouldn't it ?

If an attacker had that much access, he could modify the login page to remove the password-hashing JavaScript.

But than you make a change in the system. That can be suspicious.
If you're just reading it from the RAM and using it, nobody will know.

[NewLibertyStandard]

You should really get rid of the spread and focus on advertisements. The spread unnecessarily complicates the your whole market and makes you less trustworthy than that other market. I'm staying over there for the time being. I actually kinda like the market opening and closing. It gives the market time to cool off and/or build up pressure.

[mtgox]

NewLibertyStandard: It seems like you should use both. right now the best place to buy is on his exchange and the best place to sell is on mine. Last price on there was .061 and last price on mtgox was .081 so you would be getting 32% more for your BTC on mtgox. Which dwarfs the 2% spread.
There are some real arbitrage opportunities right now!

I'm hoping that we can somehow link the 2 exchanges.

[Anonymous]

NewLibertyStandard: It seems like you should use both. right now the best place to buy is on his exchange and the best place to sell is on mine. Last price on there was .061 and last price on mtgox was .081 so you would be getting 32% more for your BTC on mtgox. Which dwarfs the 2% spread.
There are some real arbitrage opportunities right now!

I'm hoping that we can somehow link the 2 exchanges.

I was looking at that today as well.I might take advantage of it shortly .

[Stone Man]

When I buy or sell coins I get the message:
"Your entire order can't be filled at that price. What remains is stored in your open orders."
Then when I look at my order, none of it has been filled.

If there are really no offers on the market I would like to see that.
Also it would be nice to see how much volume is available to buy or sell at a given price before buying or selling.

Thanks for putting up another exchange, I like bitcoinmarket but competition is always healthy.
I think there are several advantages to your site even with the transaction fee that give the traders more opportunities.

One thing I really like is that you have an account in dollars so I don't have to make a lot of paypal trades. Paypal gets kind of suspicious of this.
Another plus is the default prices taken directly from the market. This reduces errors in order submission.

[mtgox]

When I buy or sell coins I get the message:
"Your entire order can't be filled at that price. What remains is stored in your open orders."
Then when I look at my order, none of it has been filled.

This is when you place an order at the default price? That default price is only set if there is a counter offer at that price. So It should be filled. maybe there is a floating point rounding issue. Try placing it slightly above or below.

[mtgox]

Made some improvements:

Optional Email notifications for trades.
Sorting your open Orders and past trades.
Rough Depth of Market data although it still has some issues.

[mtgox]

Withdrawing BTC is automated now.
Depth of market chart is a bit more useful.
Added Payment processing for web merchants: http://mtgox.com/merch/about

[jgarzik]

Payment processing and automated withdrawal is working, here.  Well done.

[mtgox]

Ok we dropped our commission. So the site is complete free now except for paypal fees.

[kiba]

Ok we dropped our commission. So the site is complete free now except for paypal fees.

I am not quite sure why you did that. I am totally satisfied with paying the 2% commission because it help me support the bitcoin economy and thus grow the amount of services and goods available. Plus, I don't have to think about donating.

[jgarzik]

Ok we dropped our commission. So the site is complete free now except for paypal fees.

I am not quite sure why you did that. I am totally satisfied with paying the 2% commission because it help me support the bitcoin economy and thus grow the amount of services and goods available. Plus, I don't have to think about donating.

+1

I was happy with the model as well...

[FreeMoney]

The fee makes the market less liquid, and by a lot more than 2%. People offering trades going both ways trying to make a profit drives this together which means a better price for people who come to buy or sell. The fee, in addition to making a 2% spread the absolute minimum disincentive this behavior. The spread was at 15-20%, it's going to get a lot closer now.

There is another market, so if yo have a high spread and they don't you will always have the worst bid and asks.

An exchange site wants the spread down because that attracts customers. Once there is a thriving market is a better time to monetize with small fees or ads.

I donated. I think the site is coming along nicely.

[joechip]

The fee makes the market less liquid, and by a lot more than 2%. People offering trades going both ways trying to make a profit drives this together which means a better price for people who come to buy or sell. The fee, in addition to making a 2% spread the absolute minimum disincentive this behavior. The spread was at 15-20%, it's going to get a lot closer now.

There is another market, so if yo have a high spread and they don't you will always have the worst bid and asks.

An exchange site wants the spread down because that attracts customers. Once there is a thriving market is a better time to monetize with small fees or ads.

I donated. I think the site is coming along nicely.

Ads are perfectly acceptable to me.  A smaller than 2% spread fee is acceptable as well.  I agree the site is coming along nicely.  Just put a bid up on the exchange yesterday. 

Ta,

[eugene2k]

mt.gox, you need to fix your charts. The dots for the same exchange rates are not on the same line.

[FreeMoney]

mt.gox, you need to fix your charts. The dots for the same exchange rates are not on the same line.

The chart does need improved. But what is actually happening is that the numbers are being rounded to different precisions for the dot placement and the cursor over display. If you bid .064 and .0641 they will show up in the same place and the same price displayed in cursor over box. If you bid .064 and .0643 they will now be in slightly different places, but the box will still show .064.

It wouldn't really matter at all if you could get an exact list of offers. The chart gives a pretty good impression, the list would give you actual exact offers.

You can always get the full precision of the lowest ask and highest bid in the trade tab.