giszmo (OP)
Legendary
 Offline
Activity: 1862
Merit: 1105
WalletScrutiny.com
|
 |
June 17, 2012, 06:42:40 AM |
|
 It has been mentioned elsewhere but I guess this shows quite well how in sync the US and the EU market are (thanx to arbitrage) and how the exchange volume also correlates mostly with a strong tendency to a growing EU market. |
| ɃɃWalletScrutiny.com | Is your wallet secure?(Methodology)
WalletScrutiny checks if wallet builds are reproducible, a precondition for code audits to be of value. | ɃɃ |
|
|
|
|
|
|
|
|
|
|
|
|
You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
genuise
|
|
June 17, 2012, 10:13:54 AM
Last edit: June 17, 2012, 10:24:45 AM by genuise |
|
As I can see EUR volumes in Ks and USD Voumes in Ms?
So what is the point?
|
|
|
|
proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
|
|
June 17, 2012, 10:27:58 AM |
|
The European volume is increasing.
|
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
|
|
|
alkhdaniel
Member
Offline
Activity: 114
Merit: 10
|
|
June 17, 2012, 10:35:29 AM |
|
As I can see EUR volumes in Ks and USD Voumes in Ms?
So what is the point?
1 week of oct 11; 1mil vs 25k (1000/25=40) 1 week of jun 12: 2mil vs 100k (2000/100=20) US has grown x2 EU has grown x4 If you look at may 12 the growth starts there. |
|
|
|
|
|
MaxSan
|
|
June 17, 2012, 10:37:37 AM |
|
I see an equaliser and maybe some hard bass playing.
|
|
|
|
|
|
Polvos
|
|
June 17, 2012, 12:50:14 PM |
|
Heh, here in Europe the euro thingy is not working as intended  |
|
|
|
ribuck
Donator
Hero Member
Offline
Activity: 826
Merit: 1039
|
|
June 17, 2012, 01:00:47 PM |
|
The European volume is increasing.
People are doing SEPA withdrawals in Euros, because MtGox's dwolla withdrawals are causing problems for many. |
|
|
|
|
Spekulatius
Legendary
Offline
Activity: 1022
Merit: 1000
|
|
June 17, 2012, 01:05:06 PM |
|
Ok, lets look at the graphs again: - The volume in EUR has risen. Thats not necessarily new because it has always (on average) risen over the last year. - What's new is the sudden surge over the past 2 weeks. But volume on Mtgox has also gone up for USD in that time, although a bit less in comparison. If the higher growth rate of EUR volume is not sustained the past two weeks can be discarded as noise as they dont bring up the mean very much. - Also please consider that over the past year the EUR lost roughly 16% in value compared to the USD. This effects in a rise of 16% of EUR volume in your graph. - Finally the volume of EUR compared to USD is still insignificantly low comparing all the markets ( http://bitcoincharts.com/charts/volumepie/). If last years growth rate for both USD and EUR stays the same (across all markets), I expect the EUR volume to keep up with USD volume in about 3 years from now. Thats a long time in the bitcoin universe. My estimations (I didnt calculate very much;): + last years (from the 17th of June 2011 till the 17th of June 2012) average USD growth (across all markets): 100% (--> it doubled) + last years (from the 17th of June 2011 till the 17th of June 2012) average EUR growth (across all markets): 300% (--> it quadrupled) |
|
|
|
|
|
vssa
|
|
June 17, 2012, 03:12:29 PM |
|
It is very simple the USD/EUR exchange rate closed at 1.2638
The BTC/USD / BTC/EUR exchange rate is at 1.230
So people buying EUR USD to BTC to EUR
and selling EUR through USD to BTC
|
|
|
|
|
|
genuise
|
|
June 17, 2012, 03:15:36 PM
Last edit: June 18, 2012, 07:42:36 AM by genuise |
|
Ok, lets look at the graphs again: - The volume in EUR has risen. Thats not necessarily new because it has always (on average) risen over the last year. - What's new is the sudden surge over the past 2 weeks. But volume on Mtgox has also gone up for USD in that time, although a bit less in comparison. If the higher growth rate of EUR volume is not sustained the past two weeks can be discarded as noise as they dont
bring up the mean very much.- Also please consider that over the past year the EUR lost roughly 16% in value compared to the USD. This effects in a rise of 16% of EUR volume in your graph. - Finally the volume of EUR compared to USD is still insignificantly low comparing all the markets ( http://bitcoincharts.com/charts/volumepie/). If last years growth rate for both USD and EUR stays the same (across all markets), I expect the EUR volume to keep up with USD volume in about 3 years from now. Thats a long time in the bitcoin universe. I can agree with this. Especially keeping in mind that strange implicit currency conversion practice which is implied on mtgox, when their orderbook is actually consist from bids of several currencies at the same moment. Means in USD orderbook there can be EUR bids which price is adjused by their conversion rate, something 2.5% correct me if I am wrong here. And the same is with other currencies orderbooks. For example why could not EUR orderbook contains by their logic bids actually defined in USD with conversion rate again. This can mix everything... |
|
|
|
Portnoy
Legendary
Offline
Activity: 2030
Merit: 1000
My money; Our Bitcoin.
|
|
June 17, 2012, 05:02:11 PM |
|
The European volume is increasing. But why can't I hear the music?   |
|
|
|
|
mc_lovin
Legendary
Offline
Activity: 1190
Merit: 1000
www.bitcointrading.com
|
|
June 18, 2012, 06:41:15 PM |
|
The European volume is increasing. But why can't I hear the music? LMFAO! |
|
|
|
|
Vandroiy
Legendary
Offline
Activity: 1036
Merit: 1002
|
|
June 19, 2012, 11:29:15 AM |
|
Look at Intersango!
The graph is a massive understatement, because it looks at Gox. Intersango is becoming a more serious EUR exchange in terms of volume, and its significant growth is completely left out by the graphic above.
This is good for various reasons. One, finally a chance for a shift away from the monopoly. Two, Intersango seems to be good at security. And three, someone takes care specifically of the European market, which seemed neglected at times.
|
|
|
|
|
Spekulatius
Legendary
Offline
Activity: 1022
Merit: 1000
|
|
June 19, 2012, 12:18:50 PM |
|
Look at Intersango!
The graph is a massive understatement, because it looks at Gox. Intersango is becoming a more serious EUR exchange in terms of volume, and its significant growth is completely left out by the graphic above. True, lets hope the volume increase continues, because atm its volume compared to USD traded at MtGox is close to insignificant. This is good for various reasons. One, finally a chance for a shift away from the monopoly. Two, Intersango seems to be good at security. And three, someone takes care specifically of the European market, which seemed neglected at times. I, as a European can only welcome a gowth of this market! P.S.: I already took Intersango's volume(-rise) into account in my post further up |
|
|
|
|
|
epetroel
|
|
June 19, 2012, 12:45:24 PM |
|
Look at Intersango!
The graph is a massive understatement, because it looks at Gox. Intersango is becoming a more serious EUR exchange in terms of volume, and its significant growth is completely left out by the graphic above.
This is good for various reasons. One, finally a chance for a shift away from the monopoly. Two, Intersango seems to be good at security. And three, someone takes care specifically of the European market, which seemed neglected at times.
I'm sure a lot of it is arbitrage now that markets are more volatile. I know I bought about 4,000 EUR worth of bitcoins today that I sold elsewhere. |
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
June 21, 2012, 07:55:43 AM |
|
The European volume is increasing.
by miniscule absolute amounts. All I notice is that flipping on the left scale from "5.5M" to "100K" |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
|
