Topic: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH - page 343. (Read 628584 times)

I'm not sure that is a wise decision. It's going to be already very hard to get it going with 1 currency I think.

Bitstamp choose to focus on USD only because of this, despite being European. BTC24 already had his EUR being very successful before starting USD.

There is a lot of competition for USD so why would they go to you?

For EUR there is nothing due to BTC24 clampdown. However Bitcoin-Central just opened his doors past week so hence it's going to be hard. But at least you have a chance.

I could be totally wrong, just thinking out loud.

Not yet - we've added USD funding and trading pairs, but what's stated in the OP about the services we can offer in the US hasn't changed yet. We're hoping to add a bunch of US states including California within a few weeks, but it could take longer. I know I keep repeating myself with these "hopefully soon, but could take longer" estimates, but we can't be any more specific at this stage.   

No California?

To clarify, this means USD deposits and withdrawals are also available.

USD Pairs are now available for trading:  XBT/USD, LTC/USD.

who says it's closed?  validation requirements are a legal requirement, unfortunately.  I support your effort to have the law changed.

Why did kraken.com close down already?

I thought it would be pretty decent except all the validation requirments...

Yep, market making is on the way.

a market maker is what is needed.... kraken should do this with some coins for the first weeks to get things started.

The problem I see is:

Buyer: "why should I pay more than on bitstamp?"

Seller: "why should I get less than on bitstamp?"

Result: open orders being added but no trades/deals done


If the price moves on other exchanges that should get it rolling.

why is the daily volume so low

0.05
24 Hour Volume total are you kiddin me?

Yeah, the volume is low so you want to avoid market orders. Limit orders + patience is the game right now. It's slowly improving and the pace should pick up in the coming weeks.

Reserved

Very low volume on BTC/EUR. I guess its worthwhile to place a bid for a few thousands BTC at sub-EUR (0.3€ or something like that), a distracted trader could sell a few hundred BTC with a market order and BOOOM

What the hell with putting '€' before the number? I own TWO EUROS, not EURO TWO. No need to mimick all US idiosyncrasies. I guess Foot-Ball is enough at all.

I would think the reason for putting the € symbol after the number is because it's common in many countries which use the Euro? Even still, other countries in the Eurozone put the symbol before, so you could argue either way; I suppose this is more of a subjective issue. With regards to the decimals, my personal opinion is that it makes sense to put in all the places available as these can be very important in trading, especially where margin trading is prevalent. This practice is common in forex and so I would like that to remain the case with Kraken. I do agree though that only 2 d.p. for the volume seems too few.

Thanks for the support and thanks for your suggestion. I'm not sure if we'll do it, but I like the idea of putting '€' before the number. As for 2 decimals being too few, do you mean for 24 hour volume at the top of the page?

I couldn't find this error. It may have been fixed already or perhaps I'm not understanding the location you mean.

I think it's more beautiful if you put € sign before the number, like $ world does it.

Also amount of decimals used for € is more than 2, which is unnecessary, and amount of decimals for btc is only 2 which is too few. (top page)

I'm really excited with your exchange. Hope it succeeds

Since mtgox is basically down and btc-e seems untrustworthy there really is an alternative needed to bitstamp.

Check this out. Pretty much answers your question
http://www.youtube.com/watch?v=IbSOHwCOnG0&feature=youtu.be&t=1m8s

For an exchange to be taken seriously, it would require a substantial amount of liquidity. That in itself will bring more players to that exchange generating even more liquidity. A market maker would pretty much solve the liquidity issue and people would no longer be concerned about trading volume.

Say for example one would want to unload 1000 bitcoins unto the market or buy 1000 bitcoins. A bitcoin investor would like to be able to do that easily. If he can't do that on X exchange he'll just migrate to Y exchange which can make that happen. Such big investor also jacks up the price of Bitcoin, making that exchange more attractive to customers, thus generating even more liquidity and higher spread when compared to other exchanges. High volume and high liquidity also means high profits for the exchange that partners with a market maker.


Max Keiser probably had Exante in mind when he said was looking to partner with an exchange to implement market making services. They offer the Bitcoin Fund https://exante.eu/products/BTC/ This is similar to the Winklevoss ETF idea just that it's privately traded. This fund holds 90k Bitcoins and could theoretically act as a market maker for you.
If they won't help you with the market making, they can at least point you in the right direction.