Intersango-GBP is often better than MtGox-GBP. Sometimes MtGox USD is better even with the conversion rate but not always.
The truth is that MtGox-USD accounts for less than 50% of the whole market.
The truth is that MtGox-USD accounts for less than 50% of the whole market.
I think maybe part of the USD market on gox is "cross-posted" to the other currency markets?
I overlayed the 2 orderbooks (EUR, USD). Look how similar the ask-side is comparing USD and EUR markets:
That can't be a coincidence.
EDIT: magicaltux just cleared this up:
Quote from: #mtgox
Sure they do. However volume is not calculated by looking at the order book, but at the traded volume. The extra 2.5% (any %) means order are matched preferably in the same market and then in a different one only if arbitrage is possible. This happens anyway between MtGox and other exchanges thanks to arbitrage bots. Which guarantees that the proportion of traded volumes almost perfectly matches the proportions of liquidity in every different market.
The most share MtGox ever had is what they advertise in their site (around 80% in the peak of the bubble last year, July 2011). Since then they've lost share and now they are somewhere around 40%-60%.
The whole point being that there are no less than 600-700K BTC until 1$, maybe a lot more, and the only way you can create a drop below that is by inducing panic sales and thus the collaboration of a significant number of players.
