2013-07-24 Bitstamp bitcoin trading volume overtakes leading exchange Mt. Gox

bitcool

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Live and enjoy experiments

Quote from: Seth Otterstad on July 25, 2013, 12:10:51 PM

It appears you wrote that to purposely demonstrate that alt-coiners don't understand the network effect.

To the contrary, I've been hearing this N.E. argument for so many times, got tired of it and just ignore it now.

Before google, there was altavista, before facebook there as myspace, network effect didn't save them, it's not a panacea and can only help you that much.

There are tons of discussions on the altcoin subforum on this topic, I'll shut my mouth here because it's a Press thread.

Seth Otterstad

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Activity: 328

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Quote from: bitcool on July 25, 2013, 09:40:26 AM

Quote from: Seth Otterstad on July 25, 2013, 02:17:12 AM

Quote from: bitcool on July 25, 2013, 12:07:45 AM

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

Putting all eggs in one basket is never a good idea. For the sake of diversification, they better do.

"Investing in LTC as an alternative to BTC is like using gasoline soaked cash that you keep piled up in your house as a hedge so you can rebuild if your house is destroyed in a fire" -- DeathAndTaxes

Only people who don't understand the network effect invest in alt-coins, and if it was easy for them, they would probably also invest in WeBidz thinking that because it has lower fees, it is superior and will overtake ebay or be "silver to ebay's gold".

That's one frivolous analogy that you can throw at any investment you don't agree with: stock, gold, silver, BTC...

In a few months LTC difficulty has increased from sub-20 to close to 1000, and yet ostriches are still burying their heads in the sand.

It appears you wrote that to purposely demonstrate that alt-coiners don't understand the network effect. Auction sites and currencies have a strong network effect. Stocks do not, although stock exchanges do. Bitcoin and litecoin have similar properties, just like auction sites have similar properties. The main difference is, bitcoin and ebay have orders of magnitude more users than litecoin and WeBidz which increases their value to other users by orders of magnitude. In addition, bitcoin is orders of magnitude more secure than litecoin, and payment processors like BitPay state they will only process payments using the most secure cryptocurrency. This network effect is why litecoin still has less than 100 merchants after almost two years of existence, even with a HUGE advantage of many more people knowing about litecoin than knew about bitcoin in its first two years. You may want to reconsider who is doing the head-burying when you are quoting statistics on a bunch of obsolete GPU owners.

dree12

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Activity: 1246

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Quote from: bitcool on July 25, 2013, 09:40:26 AM

Quote from: Seth Otterstad on July 25, 2013, 02:17:12 AM

Quote from: bitcool on July 25, 2013, 12:07:45 AM

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

Putting all eggs in one basket is never a good idea. For the sake of diversification, they better do.

"Investing in LTC as an alternative to XBT is like using gasoline soaked cash that you keep piled up in your house as a hedge so you can rebuild if your house is destroyed in a fire" -- DeathAndTaxes

Only people who don't understand the network effect invest in alt-coins, and if it was easy for them, they would probably also invest in WeBidz thinking that because it has lower fees, it is superior and will overtake ebay or be "silver to ebay's gold".

That's one frivolous analogy that you can throw at any investment you don't agree with: stock, gold, silver, XBT...

In a few months LTC difficulty has increased from sub-20 to close to 1000, and yet ostriches are still burying their heads in the sand.

Funny, because ostriches don't bury their heads in the sand.

bitcool

legendary

Activity: 1441

Merit: 1000

Live and enjoy experiments

Quote from: Seth Otterstad on July 25, 2013, 02:17:12 AM

Quote from: bitcool on July 25, 2013, 12:07:45 AM

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

Putting all eggs in one basket is never a good idea. For the sake of diversification, they better do.

"Investing in LTC as an alternative to BTC is like using gasoline soaked cash that you keep piled up in your house as a hedge so you can rebuild if your house is destroyed in a fire" -- DeathAndTaxes

Only people who don't understand the network effect invest in alt-coins, and if it was easy for them, they would probably also invest in WeBidz thinking that because it has lower fees, it is superior and will overtake ebay or be "silver to ebay's gold".

That's one frivolous analogy that you can throw at any investment you don't agree with: stock, gold, silver, BTC...

In a few months LTC difficulty has increased from sub-20 to close to 1000, and yet ostriches are still burying their heads in the sand.

CoinEntropy

full member

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Metacoin Enthusiast

I anticipate more individuals to stray from Gox to Stamp after their USD from GXD is realized.

Seth Otterstad

sr. member

Activity: 328

Merit: 250

Quote from: bitcool on July 25, 2013, 12:07:45 AM

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

Putting all eggs in one basket is never a good idea. For the sake of diversification, they better do.

"Investing in LTC as an alternative to BTC is like using gasoline soaked cash that you keep piled up in your house as a hedge so you can rebuild if your house is destroyed in a fire" -- DeathAndTaxes

Only people who don't understand the network effect invest in alt-coins, and if it was easy for them, they would probably also invest in WeBidz thinking that because it has lower fees, it is superior and will overtake ebay or be "silver to ebay's gold".

bitcool

legendary

Activity: 1441

Merit: 1000

Live and enjoy experiments

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

Putting all eggs in one basket is never a good idea. For the sake of diversification, they better do.

CoinEntropy

full member

Activity: 126

Merit: 100

Metacoin Enthusiast

Quote from: dree12 on July 24, 2013, 07:50:43 PM

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

No, and I'll stop using them if they did. What's next, WOW gold?

Interesting logic Roll Eyes

dree12

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Merit: 1077

Quote from: No_2 on July 24, 2013, 06:09:56 PM

Does Bitstamp support LTC or are there any plans to add it in the future?

No, and I'll stop using them if they did. What's next, WOW gold?

No_2

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BTC: the beginning of stake-based public resources

Does Bitstamp support LTC or are there any plans to add it in the future?

smoothie

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LEALANA Bitcoin Grim Reaper

Bitstamp has worked like a charm. Gox needs to prove their team and system is better than their past poor performance.

I would be for another professional exchange replacing gox. The big boys need to run an exchange at a world-class level.

BitAddict

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Great news! Thanks for sharing it Cheesy

gweedo

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http://www.coindesk.com/bitstamp-bitcoin-trading-volume-overtakes-mt-gox-for-first-time/

Quote

Mt. Gox has long been the leader of the bitcoin exchange market, but earlier this week Bitstamp revealed itself as a serious contender.
On Monday (22nd July), 8,294.02 BTC were traded on Bitstamp, compared with 8,215.90 BTC on Mt. Gox. At several points since then, according to hourly data published on BitcoinCharts, Bitstamp has, again, overtaken Mt. Gox.

Gratz to bitstamp, I love using bitstamp! Great exchange! Keep it up!

Topic: 2013-07-24 Bitstamp bitcoin trading volume overtakes leading exchange Mt. Gox (Read 1991 times)