$4.70 > $4.85 < $4.81
with supporting volume inside the spread
I understand you're not showing all the actual orders, but...hmm - I guess I have to wonder what the spread has to do with reality.
That's why Bitcoinica is not an exchange. We rely heavily on Mt. Gox liquidity.
Our pricing algorithm doesn't take the order book into account.
it appears more based on the MtGox price.
The background: I was surprised when I see the order book myself. I haven't done that for a long time. I didn't know that we have SO MUCH liquidity! I was always under the impression that people are mostly interested in market or near-market orders.
with so much slippage potential, I'm sure many folks don't use market orders (or others that execute as market orders) I try to only use them when I have a reasonable guess the slippage will be light.
If there is so much liquidity, and there are orders on the books, why don't orders fill?
We are displaying our book in a format that's similar to an exchange, and it doesn't mean that we have to match these orders in the exchange way.
No...you fill orders more like a broker, and that's what I'd expect. I also expect wider spreads. IMO, your pricing bot is a little overcautious, spreads a little wide, but I understand you have to mitigate risks, too
I really don't pay much attention to the orderbooks myself, though it's very interesting info indeed. I guess I found it surprising that the spread, the orderbook, and the actual fills have rather different values.
It does shed some light perhaps on why it's difficult for me to make an intraday trade work (at bitcoinica).
All in all, +10 on the website update. The interest page improvements are great!