understanding bitcoincharts market depth

[phathash]

I read the following on their mtgoxUSD_depth.html page for example -

Bid   Volume   BTC   USD
7.50   174 (3)   1200   8485
7.73   5 (1)   1250   8868   
7.75   40 (1) 1290   9178   
7.76   25 (1)   1315   9372

What is the volume field? What does the "174" and "3" mean in the 7.50 bid? Is this 3 people offering to sell @ 7.50?

[vuce]

there are 174 bitcoins offered at that price range (7.5$/btc) and there are 3 different prices in that bucket (eg. 7.4999, 7.499, 7.5).

[phathash]

there are 174 bitcoins offered at that price range (7.5$/btc) and there are 3 different prices in that bucket (eg. 7.4999, 7.499, 7.5).

Thanks, but what is the 1200 figure ?

[vuce]

ah yes, that would be cumulative number of bitcoins (how many you would have to buy to actually get to that price range), eg. someone who desperately wants to buy 10000 btc would drive the price up to 9.69 $/btc.

[phathash]

tyty! I'm a little slow at this.

[phathash]

So sry. but last question.. given the following -

Ask   Volume   BTC   USD
6.76   43 (   43   292   
6.77   10 (5)   53   358   
6.80   13 (1)   66   445   
6.88   1 (1)           67   455   

Cumulative value is 67.

Say I wanted those 67, how much do you bid in mtgox? If you enter 67 x 6.88 in mtgox, it calculates cost at US$460.96. However, there are cheaper asks under 6.88, would I get those first... would only $455 be deducted from the account?

[vuce]

So sry. but last question.. given the following -

Ask   Volume   BTC   USD
6.76   43 (   43   292   
6.77   10 (5)   53   358   
6.80   13 (1)   66   445   
6.88   1 (1)           67   455   

Cumulative value is 67.

Say I wanted those 67, how much do you bid in mtgox? If you enter 67 x 6.88 in mtgox, it calculates cost at US$460.96. However, there are cheaper asks under 6.88, would I get those first... would only $455 be deducted from the account?

mtgox will buy the cheapest it can get.

[Enky1974]

So sry. but last question.. given the following -

Ask   Volume   BTC   USD
6.76   43 (   43   292   
6.77   10 (5)   53   358   
6.80   13 (1)   66   445   
6.88   1 (1)           67   455   

Cumulative value is 67.

Say I wanted those 67, how much do you bid in mtgox? If you enter 67 x 6.88 in mtgox, it calculates cost at US$460.96. However, there are cheaper asks under 6.88, would I get those first... would only $455 be deducted from the account?

mtgox will buy the cheapest it can get.

if spread is a concern for you, just put a limit order beetween best bid and ask, your order will get filled pretty soon.
Example, if best bid it's at 7.30 and best ask at 7.60 put a limit order at 7.45, you will buy at a better price compared to buying at market.