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Author Topic: 83% of Mt. Gox trades were from Bitcoinica (in last 24 hours)  (Read 1779 times)
zhoutong
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January 15, 2012, 05:33:27 AM
 #1

Mt. Gox volume: 141,034.92 BTC

Bitcoinica hedging volume: 117,516.83 BTC

So that's 83% for the last 24 hours.

Bitcoinica has a no-buying redflag again. So obviously people were trying to buy on Bitcoinica and pushed the price up. (This is pure fact, no opinions on future market movement.)

I'm just wondering, where are the Mt. Gox traders?

Note: There's always the other side of trading, but we can ignore it at the moment, because without Bitcoinica's trades, the 83% at the other side wouldn't have been triggered as well.

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legitnick
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January 15, 2012, 05:34:28 AM
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Dead =D

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old_engineer
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January 15, 2012, 05:56:15 AM
 #3

That would explain why there seem to be so many bitcoinica buys and sells.  I'm getting good at noticing and catching bitcoinica squeezes at the maximum possible spread.

I trade MtGox:
Quote
Buy and Sell the internet commodity known as Bitcoins!
Mt Gox charges a small fee (0.28 %) for each trade.
Your trading volume for the past 30 days is 51,616.02744263 BTC. If it reaches 100,000.00000000 BTC, your trading fee will be 0.27%.

Looks like I'm only about 2% of MtGox in the past month, having fallen a bit since things heated up 2 months ago.

Running out of reserves on bitcoinica can really fuck with someone's trading strategy.  Do you provide any warning before cutting off traders?
old_engineer
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January 15, 2012, 06:05:49 AM
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no spreads effect

Right, I had forgotten about that.  Zhou runs a one-day-only special and acts surprised that the volume increased on that day.  I suppose I'm surprised it's over 50%, too, but if you ever wanted to close out a position or start a new one, then today was the day.
zhoutong
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January 15, 2012, 06:21:36 AM
 #5

no spreads effect

Right, I had forgotten about that.  Zhou runs a one-day-only special and acts surprised that the volume increased on that day.  I suppose I'm surprised it's over 50%, too, but if you ever wanted to close out a position or start a new one, then today was the day.


Perhaps because Bitcoinica is running on Debian Squeeze.

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notme
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January 15, 2012, 06:23:07 AM
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Perhaps because Bitcoinica is running on Debian Squeeze.

 Grin

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January 15, 2012, 08:10:36 AM
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no spreads effect

Right, I had forgotten about that.  Zhou runs a one-day-only special and acts surprised that the volume increased on that day.  I suppose I'm surprised it's over 50%, too, but if you ever wanted to close out a position or start a new one, then today was the day.


+1
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January 15, 2012, 08:45:19 AM
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Bitcoinica should start its own independent service and provide some real competition to Mt. Gox.

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January 15, 2012, 08:52:11 AM
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Bitcoinica should start its own independent service and provide some real competition to Mt. Gox.

It does independent order matching.  Only some of the trades you do on Bitcoinica hit MtGox since many can be matched to an opposing position someone else has taken.  For this reason when he dropped his internal fees I saw a spread less than a bitcent.  That's better than MtGox with the 0.25% fee tier.  Bitcoinica is serious competition, and the best thing they could do to improve their situations would be to hedge on more exchanges.  With arbitrage opportunities included he might be able to have tiny spreads.

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gewure
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January 16, 2012, 06:21:14 AM
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Bitcoinica should start its own independent service and provide some real competition to Mt. Gox.

It does independent order matching.  Only some of the trades you do on Bitcoinica hit MtGox since many can be matched to an opposing position someone else has taken.  For this reason when he dropped his internal fees I saw a spread less than a bitcent.  That's better than MtGox with the 0.25% fee tier.  Bitcoinica is serious competition, and the best thing they could do to improve their situations would be to hedge on more exchanges.  With arbitrage opportunities included he might be able to have tiny spreads.

oh ya, i like that
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January 16, 2012, 06:30:36 AM
 #11

Bitcoinica should start its own independent service and provide some real competition to Mt. Gox.

+1

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January 16, 2012, 11:28:29 PM
 #12

I'm using bitcoinica almost exclusively. I made $ 400 USD in the last week due to leverage and good timing. I really appreciate the service.

Btw, zhoutong, I just noticed that you put your average fee on the front page, it is below 1 %. Sorry about asking you to lower it in a previous thread.

Anyway, keep up the great work !

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