Bitstamp Volume Update

[BitCoinNutJob]

Bitstamp volume update = a big holy crap its dropped a ton.  They must be firing people if that decline keeps going.

[Nagle]

BTCChina doesn't charge any fees for transactions within their exchange, but they do charge for withdrawals. So they have a huge volume of internal transactions.

[readysalted89]

Bitstamp promised to do regular audits to prove they hold the number of bitcoins they claim to have. They did an audit before the hack, but I don't think they have done one since, despite plenty of requests for an audit. How can people trust them unless they prove they are not operating a fractional reserve like Mt Gox?

[uki]

Aren't all exchanges dropping in their total volume traded the past one month ? But yeah a drop from about 10K to 4K does sound like a big one.

that is true. It is a general trend in all exchanges as of lately.

[MatTheCat]

Bitstamp volume update = a big holy crap its dropped a ton.  They must be firing people if that decline keeps going.

Bitstamp was the first exchange I registered with and I have done tens of thousands of dollars worth of business there.

Then they started interrogating me about the contents of my anal passage........so I don't use Bitstamp anymore.

Just transferred a few thousand €uros to Kraken. Bitstamp is dead to me now.

[randy8777]

chinese exchanges will soon take over an ever higher percentage of the total volume.

[inca]

chinese exchanges will soon take over an ever higher percentage of the total volume.

If you mean fake volume then sure..

[1Referee]

No surprise at all.

Bitstamp lost quite a bit of its large traders due to the hack.

Even before that, large traders were moving their stash away to exchanges with larger volumes.

No matter how much I like Bitstamp, it was and will always stay an exchange that follows other exchanges.

Bitfinex seems to do a better job in satisfying their customers it seems. It's growing and growing.

[HarmonLi]

Well the relative volume on Bitstamp definitely has gone down quite a bit but that was to be expected after the incident in January. If they come through with an audit or something similar they may very well be recouping a lot of their previous trust, though!

[Q7]

Aren't all exchanges dropping in their total volume traded the past one month ? But yeah a drop from about 10K to 4K does sound like a big one.

I think a better way to find out is by looking at the drop across all boards and then compare them individually. But seriously if an exchanger was hacked and there wasn't any follow-up audit, people will start to lose confidence. I mean who would be willing to take such a risk.

[umairsaleem]

Ridiculously, the BTCC with half of market volume doesn't has the pricing rights.

[readysalted89]

Ridiculously, the BTCC with half of market volume doesn't has the pricing rights.

There were rumors that BTCC's volume was mostly fake. Has it ever been audited to prove they really have that much volume? If there are no trading fees they could keep buying and selling to themselves to make it appear they have massive volume.

[FUR11]

Well actually I do like BitStamp. They seem like and honest and clean exchange so it was quite upsetting when they went dark. I always believed they would pull through, and they did! But they have to do an audit in order to regain their trustworthiness, that's for sure!

[ajareselde]

Well actually I do like BitStamp. They seem like and honest and clean exchange so it was quite upsetting when they went dark. I always believed they would pull through, and they did! But they have to do an audit in order to regain their trustworthiness, that's for sure!

Am i the only one thats using btc-e here? First used in 2011 and im still there today, never had a single problem that hasnt been resolved in a timely manner..
Thats why im surprised bitstamp even had a chance to deal with kinds of volume they had.
Is there any particular reason you used bitstamp over existing exchangers ?

cheers

[sgbett]

...Just transferred a few thousand €uros to Kraken...

 

[readysalted89]

Well actually I do like BitStamp. They seem like and honest and clean exchange so it was quite upsetting when they went dark. I always believed they would pull through, and they did! But they have to do an audit in order to regain their trustworthiness, that's for sure!

Am i the only one thats using btc-e here? First used in 2011 and im still there today, never had a single problem that hasnt been resolved in a timely manner..
Thats why im surprised bitstamp even had a chance to deal with kinds of volume they had.
Is there any particular reason you used bitstamp over existing exchangers ?

cheers

What bothers me about btc-e is nobody knows who they are. If anything goes wrong nobody knows who to complain to. They have been trustworthy until now, but they could disappear with the bitcoins any time they want.

[ajareselde]

Well actually I do like BitStamp. They seem like and honest and clean exchange so it was quite upsetting when they went dark. I always believed they would pull through, and they did! But they have to do an audit in order to regain their trustworthiness, that's for sure!

Am i the only one thats using btc-e here? First used in 2011 and im still there today, never had a single problem that hasnt been resolved in a timely manner..
Thats why im surprised bitstamp even had a chance to deal with kinds of volume they had.
Is there any particular reason you used bitstamp over existing exchangers ?

cheers

What bothers me about btc-e is nobody knows who they are. If anything goes wrong nobody knows who to complain to. They have been trustworthy until now, but they could disappear with the bitcoins any time they want.

Yes, its a bit non transparent ownership, and i hope that changes if they deliver what they promised :
"The company plans to soon begin to publish publicly available statements certified by external auditors." cut from https://btc-e.com/news/199

To be honest they had me when they paid full loss on liberty reserve deposit exploit, when they rolled back all trades on their expense.

cheers

[MatTheCat]

...Just transferred a few thousand €uros to Kraken...

 

Yep.

My position on Bitcoin at the moment is that it might stagnate a bit further, it might grind down a bit further from here, but in the medium term I like Bitcoin at least up until the $400 range....might take a few months to get there....having said that, I am noticing that shorts on Bitfinex are back piling up to near ATHs, without the price really pushing down so much. Those are ripe conditions for a nasty short squeeze should some considerable buying pressure come to market....so who knows...maybe we will get a spike up but I suspect the general character of Bitcoin in the short-medium term will be grinding, and mostly grinding up the way.

So I am going to take a modest position tomorrow when my dosh lands on Kraken, whatever the price, and just sit and hold it until the market does what I know it will eventually do (that means NO TARDING).

If my Bitcoin tarding history was littered with cases of me holding out for 'what I knew the market was going to do', then I would be a rich man.

[hyphymikey]

Bitstamp volume drops as soon as the downward pressure stopped. Why you ask? It was where all the goxcoins were being sold. I am glad they now have such little volume.

[sgbett]

...Just transferred a few thousand €uros to Kraken...

 

Yep.

My position on Bitcoin at the moment is that it might stagnate a bit further, it might grind down a bit further from here, but in the medium term I like Bitcoin at least up until the $400 range....might take a few months to get there....having said that, I am noticing that shorts on Bitfinex are back piling up to near ATHs, without the price really pushing down so much. Those are ripe conditions for a nasty short squeeze should some considerable buying pressure come to market....so who knows...maybe we will get a spike up but I suspect the general character of Bitcoin in the short-medium term will be grinding, and mostly grinding up the way.

So I am going to take a modest position tomorrow when my dosh lands on Kraken, whatever the price, and just sit and hold it until the market does what I know it will eventually do (that means NO TARDING).

If my Bitcoin tarding history was littered with cases of me holding out for 'what I knew the market was going to do', then I would be a rich man.

I can't disagree at all. Especially no Tarding!

Just so happens I did the same thing the other day ( €€€s to kraken). Bit annoyed it popped today, and that it takes so long for funds to arrive, but thats the game

Also bunged a few k bitstamp's way. In an ironic twist, it's easier to get business account validated on stamp, than it is on kraken! (though tbf both require liberal amounts of vaseline) So I'm gonna stick with them for the company trades!

I think you are right though its going to be a very long and bumpy road, the likes of which nobody has seen before, or is really expecting. I think in 2025 on 10y chart it will look obvious what one *should* have done, but I expect some serious shenanigans on the way there that will make it really hard to actually do it. (it will make the $15 -> $1200 -> $160 look like the teacup ride).

Or it will all go to shit. Can't ever forget that part