|
myself
Guest
|
 |
August 28, 2012, 08:19:28 PM
Last edit: September 08, 2012, 07:43:21 PM by myself |
|
del
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
DeathAndTaxes
Donator
Legendary
 Offline
Activity: 1218
Merit: 1079
Gerald Davis
|
|
August 28, 2012, 08:31:40 PM |
|
what?
|
|
|
|
|
|
humanitee
|
|
August 28, 2012, 08:37:08 PM |
|
|
| | |
Fast, Secure, and Fully
Decentralized Trading | BACKED BY:
─────────────────────────
| BINANCE
─────── LAB | & | █████████████████████████████████ █ ███
█▀ ▀█ ███▀▀▀▀▀████████ ████▀▀███▀ █
█ █████ ▄▄▄▄▄ █ ▀ █ ███ █ ██
█▄ ▀█ ██ █ ▄███ ██████ ███
█████ █ ██ ███ █ ████ ████ ▄ ███
█▄ ▄█▄ ▄█▄ ▀ ████▄ ▄█ ██ ██
████████████████████████████████████████ |
|
|
| Whitepaper
Medium
Reddit
|
|
|
|
thezerg
Legendary
Offline
Activity: 1246
Merit: 1010
|
|
August 28, 2012, 08:37:29 PM |
|
I think he's saying that the cost of a BTC * number of BTC has to be higher than the operating costs of the exchange and that as volumes increase this operating cost also increases.
|
|
|
|
|
|
humanitee
|
|
August 28, 2012, 08:42:47 PM |
|
Isn't the whole process mostly automated?
|
| | |
Fast, Secure, and Fully
Decentralized Trading | BACKED BY:
─────────────────────────
| BINANCE
─────── LAB | & | █████████████████████████████████ █ ███
█▀ ▀█ ███▀▀▀▀▀████████ ████▀▀███▀ █
█ █████ ▄▄▄▄▄ █ ▀ █ ███ █ ██
█▄ ▀█ ██ █ ▄███ ██████ ███
█████ █ ██ ███ █ ████ ████ ▄ ███
█▄ ▄█▄ ▄█▄ ▀ ████▄ ▄█ ██ ██
████████████████████████████████████████ |
|
|
| Whitepaper
Medium
Reddit
|
|
|
|
|
calian
|
|
August 28, 2012, 08:47:44 PM |
|
Maybe he's saying MTGOX keeps their BTC fees in BTC and don't sell them. Therefore a portion of all the exchange that passes through there is taken off the market.
|
|
|
|
|
kjj
Legendary
Offline
Activity: 1302
Merit: 1024
|
|
August 28, 2012, 10:39:59 PM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
|
17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
I routinely ignore posters with paid advertising in their sigs. You should too.
|
|
|
FreeMoney
Legendary
Offline
Activity: 1246
Merit: 1014
Strength in numbers
|
|
August 28, 2012, 10:46:01 PM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to cut costs.
Fixed that. But really, one day MtGox will go out of business and we'll all be fine. It's funny really, people aren't going to like "OMG coins are so cheap but no where to buy them because I'm only willing to pay .5% fee and no exchange can exist on that because of the costs of one exchange at one time in the past." |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
|
|
|
Yuhfhrh
|
|
August 28, 2012, 10:47:19 PM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? |
|
|
|
|
FreeMoney
Legendary
Offline
Activity: 1246
Merit: 1014
Strength in numbers
|
|
August 28, 2012, 10:53:57 PM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? Well, if they tried to sell them at their own market that would just generate more fees and they'd have the same problem. And remember, premise of OP is 1 market exists. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
|
|
|
istar
|
|
August 28, 2012, 10:56:49 PM |
|
How about if they raise their fees to 1%?
|
Bitcoins - Because we should not pay to use our money
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
August 28, 2012, 11:28:20 PM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? Well, if they tried to sell them at their own market that would just generate more fees and they'd have the same problem.except it'd be 0.005 times as small (200 times smaller) |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
|
Yuhfhrh
|
|
August 28, 2012, 11:47:24 PM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? Well, if they tried to sell them at their own market that would just generate more fees and they'd have the same problem. And remember, premise of OP is 1 market exists. (Example) Selling 100 BTC for $1,000 and then getting 0.5BTC back is not a problem... |
|
|
|
|
kjj
Legendary
Offline
Activity: 1302
Merit: 1024
|
|
August 29, 2012, 06:10:24 AM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? Because they are in the BTC trading business, and they could front-run every buy, sell, and hold order that everyone ever made. |
17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
I routinely ignore posters with paid advertising in their sigs. You should too.
|
|
|
|
Bitcoin Oz
|
|
August 29, 2012, 06:16:43 AM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? Because they are in the BTC trading business, and they could front-run every buy, sell, and hold order that everyone ever made. If they are ethical they would sell them through a third party they trust at arms length. |
|
|
|
chmod755
Legendary
Offline
Activity: 1386
Merit: 1020
|
|
August 29, 2012, 06:33:53 AM |
|
If they are ethical they would sell them through a third party they trust at arms length.
They should collaborate with other exchanges: 1.ethical reasons 2.they'd have some coins even if something goes wrong with their own exchange + backups / cold storage 3.trading so many coins on their own exchange also makes them a very big target for hackers |
|
|
|
FreeMoney
Legendary
Offline
Activity: 1246
Merit: 1014
Strength in numbers
|
|
August 29, 2012, 06:59:49 AM |
|
He's saying that mtgox requires $64,000 per month to exist. Their average fee is 0.5%. Divide one by the other and you get...
If their monthly volume traded drops below about $13 million dollars, they'll be in the red and eventually would have to shut down, making it hard to trade coins.
(It is more complicated than that, of course, because some part of their commissions are in BTC, but they don't (can't really) sell those coins, so their fiat earnings have to pay for everything at the moment.)
Why can't they sell their btc? Because they are in the BTC trading business, and they could front-run every buy, sell, and hold order that everyone ever made. If they do that traders will eventually realize that it is better to trade off market or at other markets. But the fact they could make money doing that doesn't mean they have trouble selling coins, kind of the opposite. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
|
|
|
