Topic: Exchanges (Read 579 times)
MtGox runs higher than Bitstamp, BTC-E, and Camp BX because Japan has a surplus of US $ that have a hard time getting home.
Specifically, MtGox currently executes international money transfers manually and promises around 4 week completion times. I know of some cases where it has taken longer than that for proceeds from a BTC sale to return to a US bank.
Effectively a US$ is worth less when held in a MtGox account than a US$ held in a US Bank, therefore it takes more of them to buy a BTC.
I almost learned this the hard way. Transfered BTC to MtGox. Sold some. Saw that it would take forever to get the cash home, so I took a small loss, converted back to BTC and was home with a "poof" of bitcoin magic. Lesson learned.
Specifically, MtGox currently executes international money transfers manually and promises around 4 week completion times. I know of some cases where it has taken longer than that for proceeds from a BTC sale to return to a US bank.
Effectively a US$ is worth less when held in a MtGox account than a US$ held in a US Bank, therefore it takes more of them to buy a BTC.
I almost learned this the hard way. Transfered BTC to MtGox. Sold some. Saw that it would take forever to get the cash home, so I took a small loss, converted back to BTC and was home with a "poof" of bitcoin magic. Lesson learned.
Thanks for that. That answers it pretty good. I'm going to continue to use virtex as a standard price point. It's the exchange that's used by the place I buy coins.
MtGox runs higher than Bitstamp, BTC-E, and Camp BX because Japan has a surplus of US $ that have a hard time getting home.
Specifically, MtGox currently executes international money transfers manually and promises around 4 week completion times. I know of some cases where it has taken longer than that for proceeds from a BTC sale to return to a US bank.
Effectively a US$ is worth less when held in a MtGox account than a US$ held in a US Bank, therefore it takes more of them to buy a BTC.
I almost learned this the hard way. Transfered BTC to MtGox. Sold some. Saw that it would take forever to get the cash home, so I took a small loss, converted back to BTC and was home with a "poof" of bitcoin magic. Lesson learned.
Specifically, MtGox currently executes international money transfers manually and promises around 4 week completion times. I know of some cases where it has taken longer than that for proceeds from a BTC sale to return to a US bank.
Effectively a US$ is worth less when held in a MtGox account than a US$ held in a US Bank, therefore it takes more of them to buy a BTC.
I almost learned this the hard way. Transfered BTC to MtGox. Sold some. Saw that it would take forever to get the cash home, so I took a small loss, converted back to BTC and was home with a "poof" of bitcoin magic. Lesson learned.
I think it is one of the most liquidity exchangers so the interaction and changes in the value of bitcoin to the news is fast and people play with real value.
I put forth to the community,
Why, is it, that the MT Gox price is so much higher than everyone else?
Im Canadian, so i watch virtex currently its at 865$/BTC
Gox is showing 977$/BTC also in Canadian dollars
Any one know why?
Nobody knows; it's a mystery. Stay away from Gox though.
I put forth to the community,
Why, is it, that the MT Gox price is so much higher than everyone else?
Im Canadian, so i watch virtex currently its at 865$/BTC
Gox is showing 977$/BTC also in Canadian dollars
Any one know why?
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