[ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH - page 343.

nitrous

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Quote from: Loozik on September 27, 2013, 02:36:17 PM

Kraken,

1. I don't see you here: http://www.bitcoincharts.com/markets/ what are your daily volumes?

2. Can someone living in Europe become your client?

3. Why BTC/LTC when everybody quotes LTC/BTC?

Hey Loozik

1. Their volumes are pretty low at the moment, but I'm quite excited for when they get more business! You can see their daily volumes on their website, unfortunately it seems to be 0 now. Last time I checked it was 0.5 though.

2. I'm already tier 3 verified (I'm from the UK). Where are you from? I think most of Europe is covered, but some places, e.g. Germany, still need some more paperwork behind the scenes.

3. IIRC, they recently switched because the prices were suffering rounding errors.

It seems to me a bit like a catch-22 - not much trading, but other people might be reluctant because of the low trade volumes. Kraken is considering becoming a market maker though soon, so hopefully that will rectify this problem.

Loozik

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Activity: 378

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Born to chew bubble gum and kick ass

Kraken,

1. I don't see you here: http://www.bitcoincharts.com/markets/ what are your daily volumes?

2. Can someone living in Europe become your client?

3. Why BTC/LTC when everybody quotes LTC/BTC?

nitrous

sr. member

Activity: 246

Merit: 250

Quote from: Stephen Gornick on September 27, 2013, 01:47:23 PM

Quote from: RationalSpeculator on September 27, 2013, 06:07:02 AM

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

I know that on other exchanges (e.g. Mt. Gox) I can have a wallet in any of the currencies they trade. So if for some reason the XBT/EUR was trading higher than the XBT/USD (after factoring the EUR/USD rate), then it might be more profitable to sell bitcoins and get those EUR, then at a later time when the two markets equilibrate I then buy BTCs and move the funds over to USDs. So I might hold and trade with EUR even though I might never deposit or withdraw EUR. This adds liquidity to that market.

Does a Kraken account for someone in the U.S. allow wallets for both USD and EUR?

I may be wrong, but I'm pretty sure you don't have to worry about wallets as you do with MtGox, you should be able to make use of any public trading pairs regardless of location or preferences (as long as you have funds in that asset!).

Stephen Gornick

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Quote from: RationalSpeculator on September 27, 2013, 06:07:02 AM

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

I know that on other exchanges (e.g. Mt. Gox) I can have a wallet in any of the currencies they trade. So if for some reason the XBT/EUR was trading higher than the XBT/USD (after factoring the EUR/USD rate), then it might be more profitable to sell bitcoins and get those EUR, then at a later time when the two markets equilibrate I then buy BTCs and move the funds over to USDs. So I might hold and trade with EUR even though I might never deposit or withdraw EUR. This adds liquidity to that market.

Does a Kraken account for someone in the U.S. allow wallets for both USD and EUR?

RationalSpeculator

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Activity: 294

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This bull will try to shake you off. Hold tight!

Quote from: Dargo on September 26, 2013, 01:17:06 PM

Quote from: btcx on September 26, 2013, 01:01:17 PM

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

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

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.

Dargo

legendary

Activity: 1820

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Quote from: jimbobway on September 26, 2013, 06:20:15 PM

No California?

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.

jimbobway

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No California?

Dargo

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Quote from: btcx on September 26, 2013, 01:01:17 PM

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

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

btcx

vip

Activity: 302

Merit: 253

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

btcx

vip

Activity: 302

Merit: 253

Quote from: Sioux on September 25, 2013, 02:24:39 PM

Why did kraken.com close down already?

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

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

Sioux

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Why did kraken.com close down already?

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

Dargo

legendary

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Quote from: xchrix on September 25, 2013, 09:17:54 AM

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

Yep, market making is on the way.

xchrix

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

RationalSpeculator

sr. member

Activity: 294

Merit: 250

This bull will try to shake you off. Hold tight!

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.

Sioux

full member

Activity: 185

Merit: 100

why is the daily volume so low

0.05
24 Hour Volume total are you kiddin me?

Dargo

legendary

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Quote from: Rampion on September 24, 2013, 10:38:58 AM

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 Wink

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.

bitbbs

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Reserved

Rampion

legendary

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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 Wink

Hawkix

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Activity: 531

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Quote from: Dargo on September 23, 2013, 06:12:48 PM

Quote from: RationalSpeculator on September 20, 2013, 07:57:48 PM

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.

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?

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.

nitrous

sr. member

Activity: 246

Merit: 250

Quote from: Dargo on September 23, 2013, 06:12:48 PM

Quote from: RationalSpeculator on September 20, 2013, 07:57:48 PM

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.

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 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.

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