when would it run out of steam.. 
Topic: BTCChina overtook Mtgox as the leader in volume (Read 3559 times)
really interesting run to $307 when would it run out of steam..
when would it run out of steam..
Yea, they appear to be taking a breather and who knows what next ...? would they really slow down and the others exchange may follow and next you know what ...?
Seems China doesn't buy anymore this morning.
If you add up all the BTC volume across all currencies for MtGox its about 780,000BTC over 30 days.. so BTCChina still has a little ways to go to knock them off the top in terms of BTC Volume.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
You can't just "add up" all the BTC volume across all currencies for Mt. Gox. That would be double-counting. To understand this, one needs to understand how Mt. Gox works.
You see, Mt. Gox doesn't have a market for each currency. Rather, all currencies share a single trade book. When an order is placed with one currency, it is injected into the trade book and potentially matched with other currencies. Thus, traders in obscure currencies have the benefit of being able to trade with a more mainstream currency.
There are then two types of Mt. Gox transactions: transactions with two of the same currency markets (e.g. USD and USD or EUR and EUR), and transactions between two different currency markets (e.g. USD and EUR). Because the USD market is so much larger, most of the volume for other currency markets has already been counted in the USD currency market.
Thus, adding up the volume across all currencies for Mt. Gox is a gross overestimate. The USD volume is much, much closer to actual volume.
Are you 100% sure of that? because i had order in euro that were not fulfilled completely while an equivalent higher price in $ was hit.
See: https://support.mtgox.com/entries/20800336-Multi-Currency-Trading
Quote
Q. Do you keep independent ask/bid tables for different currencies?
A. No, ask/bid tables for different currencies are not independent. All currencies are relative to whichever currency has the highest volume, which is based on said currencies current market price in bitcoin. Every trade is in one pool and in fact, not are not separate currency markets. This allows users the added benefit of trading in "the greater market" -in currencies they understand- while not limiting them to smaller currency markets.
For example, if a buy order for bitcoins is placed in EUR, the order can be executed against another user selling bitcoins in any currency and not necessarily only against another user selling bitcoins in EUR.
A. No, ask/bid tables for different currencies are not independent. All currencies are relative to whichever currency has the highest volume, which is based on said currencies current market price in bitcoin. Every trade is in one pool and in fact, not are not separate currency markets. This allows users the added benefit of trading in "the greater market" -in currencies they understand- while not limiting them to smaller currency markets.
For example, if a buy order for bitcoins is placed in EUR, the order can be executed against another user selling bitcoins in any currency and not necessarily only against another user selling bitcoins in EUR.
If you add up all the BTC volume across all currencies for MtGox its about 780,000BTC over 30 days.. so BTCChina still has a little ways to go to knock them off the top in terms of BTC Volume.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
You can't just "add up" all the BTC volume across all currencies for Mt. Gox. That would be double-counting. To understand this, one needs to understand how Mt. Gox works.
You see, Mt. Gox doesn't have a market for each currency. Rather, all currencies share a single trade book. When an order is placed with one currency, it is injected into the trade book and potentially matched with other currencies. Thus, traders in obscure currencies have the benefit of being able to trade with a more mainstream currency.
There are then two types of Mt. Gox transactions: transactions with two of the same currency markets (e.g. USD and USD or EUR and EUR), and transactions between two different currency markets (e.g. USD and EUR). Because the USD market is so much larger, most of the volume for other currency markets has already been counted in the USD currency market.
Thus, adding up the volume across all currencies for Mt. Gox is a gross overestimate. The USD volume is much, much closer to actual volume.
Are you 100% sure of that? because i had order in euro that were not fulfilled completely while an equivalent higher price in $ was hit.
He's right, but they add the standard 3% forex fee their bank charges them to convert fiat currencies.
If you add up all the BTC volume across all currencies for MtGox its about 780,000BTC over 30 days.. so BTCChina still has a little ways to go to knock them off the top in terms of BTC Volume.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
You can't just "add up" all the BTC volume across all currencies for Mt. Gox. That would be double-counting. To understand this, one needs to understand how Mt. Gox works.
You see, Mt. Gox doesn't have a market for each currency. Rather, all currencies share a single trade book. When an order is placed with one currency, it is injected into the trade book and potentially matched with other currencies. Thus, traders in obscure currencies have the benefit of being able to trade with a more mainstream currency.
There are then two types of Mt. Gox transactions: transactions with two of the same currency markets (e.g. USD and USD or EUR and EUR), and transactions between two different currency markets (e.g. USD and EUR). Because the USD market is so much larger, most of the volume for other currency markets has already been counted in the USD currency market.
Thus, adding up the volume across all currencies for Mt. Gox is a gross overestimate. The USD volume is much, much closer to actual volume.
Are you 100% sure of that? because i had order in euro that were not fulfilled completely while an equivalent higher price in $ was hit.
I made my prediction correctly :
Symbol Latest Price 30 days Average Volume Low High Bid Ask 24h Avg. Volume
▲ CNY BTC China btcnCNY (24h) 1517.82 1517.82 (24h) 1500.52 1502 1446.37 59.64 4.12% 56,597.21
▲ USD BitStamp bitstampUSD 217 (24h) 245.56 245.56 (24h) 244.5 244.69 229.63 14.07 6.13% 36,909.69
Symbol Latest Price 30 days Average Volume Low High Bid Ask 24h Avg. Volume
▲ CNY BTC China btcnCNY (24h) 1517.82 1517.82 (24h) 1500.52 1502 1446.37 59.64 4.12% 56,597.21
▲ USD BitStamp bitstampUSD 217 (24h) 245.56 245.56 (24h) 244.5 244.69 229.63 14.07 6.13% 36,909.69
Yeah um mtgox sucks, can't wait til they go out of business just slowing down the evolution of bitcoin imo.
Have to acknowledge Bitstamp who also over took mtgox in volume. But BTCCHINA, is really going nuts with the buying, 40,143 in volume?
Is BTCCHINa @ 46,637 ------ would they hit 50k today
Bitstamp @ 30,426 - also rising fast ----- would they hit 35k today
Mt.Gox @ 22,496
Btc-e @ 15,183
For the Top 2 my answer would be a Big YES !!!
If you add up all the BTC volume across all currencies for MtGox its about 780,000BTC over 30 days.. so BTCChina still has a little ways to go to knock them off the top in terms of BTC Volume.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
You can't just "add up" all the BTC volume across all currencies for Mt. Gox. That would be double-counting. To understand this, one needs to understand how Mt. Gox works.
You see, Mt. Gox doesn't have a market for each currency. Rather, all currencies share a single trade book. When an order is placed with one currency, it is injected into the trade book and potentially matched with other currencies. Thus, traders in obscure currencies have the benefit of being able to trade with a more mainstream currency.
There are then two types of Mt. Gox transactions: transactions with two of the same currency markets (e.g. USD and USD or EUR and EUR), and transactions between two different currency markets (e.g. USD and EUR). Because the USD market is so much larger, most of the volume for other currency markets has already been counted in the USD currency market.
Thus, adding up the volume across all currencies for Mt. Gox is a gross overestimate. The USD volume is much, much closer to actual volume.
Valid point, we can't really accurately gauge the total volume on Gox since we don't know how many trades were currency converted.
I wonder how good will litecoin gonna perform when it gets added to btcchina.com
Is there a planned date of addition or just speculative?
The CEO of btcchina is brother of Charlie lee, the litecoin founder.
If you add up all the BTC volume across all currencies for MtGox its about 780,000BTC over 30 days.. so BTCChina still has a little ways to go to knock them off the top in terms of BTC Volume.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
You can't just "add up" all the BTC volume across all currencies for Mt. Gox. That would be double-counting. To understand this, one needs to understand how Mt. Gox works.
You see, Mt. Gox doesn't have a market for each currency. Rather, all currencies share a single trade book. When an order is placed with one currency, it is injected into the trade book and potentially matched with other currencies. Thus, traders in obscure currencies have the benefit of being able to trade with a more mainstream currency.
There are then two types of Mt. Gox transactions: transactions with two of the same currency markets (e.g. USD and USD or EUR and EUR), and transactions between two different currency markets (e.g. USD and EUR). Because the USD market is so much larger, most of the volume for other currency markets has already been counted in the USD currency market.
Thus, adding up the volume across all currencies for Mt. Gox is a gross overestimate. The USD volume is much, much closer to actual volume.
Wow the Volume in China is really picking up, what is driving the market over there?
Zero trade fees and strong incentive to trade with oneself (earns shares). Total sham.
Yeah, I think we saw the shadow of Chinese gov.
Wow the Volume in China is really picking up, what is driving the market over there?
Zero trade fees and strong incentive to trade with oneself (earns shares). Total sham.
If you add up all the BTC volume across all currencies for MtGox its about 780,000BTC over 30 days.. so BTCChina still has a little ways to go to knock them off the top in terms of BTC Volume.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Not to mention BTCChina has zero trade fees at the moment, which makes me very suspicious about their volumes.
Have to acknowledge Bitstamp who also over took mtgox in volume. But BTCCHINA, is really going nuts with the buying, 40,143 in volume?
I wonder how good will litecoin gonna perform when it gets added to btcchina.com
Is there a planned date of addition or just speculative?
I wonder how good will litecoin gonna perform when it gets added to btcchina.com
Americans don't even feature.... wow
Right Now in this order on Volume :
1) Chinese - 21,251
2) Japanese - 14,107
3) Americans - 12,414
4) Russian - 10,002
and the rest of the world .........
Source : http://bitcoincharts.com/markets/
1) Chinese - 21,251
2) Japanese - 14,107
3) Americans - 12,414
4) Russian - 10,002
and the rest of the world .........
Source : http://bitcoincharts.com/markets/
3) Bitstamp is not American.
OK Noted, Eastern Europe, Slovenia
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