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Author Topic: What if I was buying coins, would you even notice?  (Read 1299 times)
adamstgBit
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March 13, 2012, 01:39:03 AM
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What if i was to buy, 100,000 coins, But i was buying them slowly and on all the other markets and not MtGox

would this have an effect on MtGox?

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March 13, 2012, 01:42:52 AM
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It could, if others were ready to buy from other exchanges and you nabbed them first....and they were then forced to buy off mtgox.
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March 13, 2012, 01:44:38 AM
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I'm pretty sure there are people with arbitrage bots.  I'm sure they would love you for it.

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March 13, 2012, 02:05:04 AM
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more then 50% of coins traded in the past 24 hour was not on mtgox

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March 13, 2012, 02:39:25 AM
 #5

I would not affect MTGox if you kept the volume low... Other than tightening the overall supply of bitcoin.

The bitcoin market is very good at arbitrage.

One off NP-Hard.
adamstgBit
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March 13, 2012, 02:41:48 AM
 #6

The bitcoin market is very good at arbitrage.

is it really?

wana buy some coins at 4.64?

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March 13, 2012, 02:55:17 AM
 #7

The bitcoin market is very good at arbitrage.

its really not...

wana buy some coins at 4.64?

Well you need to stick with the exchanges that at least have _some_ volume...
Also once you start buying 100K coins... that would create enough volume to make arbitrage worth doing.

One off NP-Hard.
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March 13, 2012, 02:59:38 AM
 #8

more then 50% of coins traded in the past 24 hour was not on mtgox

Where's you getting data?  Is Mtgox no longer 90% of trading volume?  What's the second biggest exchange now?

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adamstgBit
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March 13, 2012, 03:03:43 AM
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more then 50% of coins traded in the past 24 hour was not on mtgox

Where's you getting data?  Is Mtgox no longer 90% of trading volume?  What's the second biggest exchange now?

http://bitcoincharts.com/markets/

24hour volume is the last col. on the right side

mtgox is still on top for the past 24 hours, but has less then 50%

What's the second biggest exchange now?
   intrsngGBP - and its coins are selling higher then gox

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March 13, 2012, 03:11:25 AM
 #10

The bitcoin market is very good at arbitrage.

its really not...

wana buy some coins at 4.64?

Well you need to stick with the exchanges that at least have _some_ volume...
Also once you start buying 100K coins... that would create enough volume to make arbitrage worth doing.

right but its starting to look like all other exchanges are starting to get _some_ volume

should we be looking at other market prices as indicators?

could mtgox price become nothing more then an indicator?

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March 13, 2012, 03:18:03 AM
 #11

The bitcoin market is very good at arbitrage.

its really not...

wana buy some coins at 4.64?

Well you need to stick with the exchanges that at least have _some_ volume...
Also once you start buying 100K coins... that would create enough volume to make arbitrage worth doing.

right but its starting to look like all other exchanges are starting to get _some_ volume

should we be looking at other market prices as indicators?

could mtgox price become nothing more then an indicator?

I think less of an indicator and more of an opportunity for arbitrage.

As soon as any one of those start showing a leading indicator it'll be quickly lost...just like "weekends = price down!" etc
adamstgBit
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March 13, 2012, 03:30:00 AM
 #12

The bitcoin market is very good at arbitrage.

its really not...

wana buy some coins at 4.64?

Well you need to stick with the exchanges that at least have _some_ volume...
Also once you start buying 100K coins... that would create enough volume to make arbitrage worth doing.

right but its starting to look like all other exchanges are starting to get _some_ volume

should we be looking at other market prices as indicators?

could mtgox price become nothing more then an indicator?

I think less of an indicator and more of an opportunity for arbitrage.

As soon as any one of those start showing a leading indicator it'll be quickly lost...just like "weekends = price down!" etc

I think your under estimating the significance of other markets getting bigger. and i do not think arbitrage always passes by Gox

truth is we want to have 100 markets big markets. and not 1 huge one.

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March 13, 2012, 03:35:35 AM
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What if i was to sell, 100,000 coins, But i was selling them slowly and on all the other markets and not MtGox

would this have an effect on MtGox?

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March 13, 2012, 03:41:51 AM
 #14

What if i was to buy, 100,000 coins, But i was buying them slowly and on all the other markets and not MtGox

would this have an effect on MtGox?
I am officially buying 100,000 pennies.
(buy buy buy?)

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Hunterbunter
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March 13, 2012, 03:47:22 AM
 #15

I think your under estimating the significance of other markets getting bigger. and i do not think arbitrage always passes by Gox

truth is we want to have 100 markets big markets. and not 1 huge one.

Yeah I agree with that - I meant that they are invariably connected through the fact they all pair up fiat <-> btc. One way all exchanges can be used as an indicator for each other is if you average the bids across all exchanges...It doesn't really matter which market is the big one...just that you can move between them at whim.

If gox became the second biggest, whoever had the cheaper price will sell more coins (usually).
Mageant
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March 13, 2012, 01:10:40 PM
 #16

I just calculated the volumes on http://bitcoincharts.com/markets/ and Mt.Gox had 65% of the volume.

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March 13, 2012, 01:27:38 PM
 #17

MtGox has 71% of the volume over last 24 hours, and 87% over last 30 days.
Think that 50% figure was an anomaly - perhaps you were calculating [MtGoxUSD / market] rather than [MtGox all currencies / market]?


more then 50% of coins traded in the past 24 hour was not on mtgox
P_Shep
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March 13, 2012, 06:02:58 PM
 #18

The bitcoin market is very good at arbitrage.

is it really?

wana buy some coins at 4.64?

I'll buy some coins off you for $4.64 Smiley
evoorhees
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March 13, 2012, 06:12:42 PM
 #19

Of course buying 100,000 coins from anywhere will impact the price on Gox. You will be removing that much supply which otherwise would've been purchased by someone else, meaning when those others come looking for coins, they'll have to bid up the prices on an exchange to get them.
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