Topic: I officially quit Mt.Gox, moving to BTC-E (Read 5842 times)
tell me where you gonna hop for another exchange op ill be right with ya
There is no such thing as too old a thread. Necroposting is a way too keep order in here!
Meta
so ?
the concerns posted by OP made him change exchanges look how said concerns got ignored and downplayed, 1 year after ppl get to look again at their valuation of said concerns and maybe next time think better ? and other did agree on the OP concerns, mtgox users got almost 1 year time from this post to read and think and see by themselves if there was any risk
Actually I am tired of this shit happening on MtGox. I considered it is not suitable for good trading as it always provides traders with surprises. Points:
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
Good job buddy. Nice move.
Meta
=)
lets look at this post almost one year later 
I think I have found solution how to deal with low liquidity on non-gox markets.
There is enought hidden arbitrage liquidity everywhere. So if you need market buy/sell, you just put the bid/ask 1-2% higher/lower off the current price. Arbitrage bots will eat that wall and transfer it to gox or other exchange.
So it is possible to sell mtgox pain to arbitrage owners for 1-2%.
There is enought hidden arbitrage liquidity everywhere. So if you need market buy/sell, you just put the bid/ask 1-2% higher/lower off the current price. Arbitrage bots will eat that wall and transfer it to gox or other exchange.
So it is possible to sell mtgox pain to arbitrage owners for 1-2%.
Bitstamp seems to be greater price these days
I've stopped using gox as they're closing for US anyway
BitMe is closing as well
I've stopped using gox as they're closing for US anyway
BitMe is closing as well
The best choice for Europe is https://bitcoin-24.com/
You can send & withdraw euro via SEPA - pretty quick and no banking fee.
Withdraw & deposit of euro cost you 1,24 euro for the exchange. That's it, no need to pay any other fees.
It's my favourite...
You can send & withdraw euro via SEPA - pretty quick and no banking fee.
Withdraw & deposit of euro cost you 1,24 euro for the exchange. That's it, no need to pay any other fees.
It's my favourite...
Ah! And the main point due to which I considered to create such topic.
Mt.Gox made fundamental changes to their API leaving warning about this only in specialized subforum.
NO OFFICIAL PRESS RELEASE
NO OFFICIAL EMAIL TO API KEYS HOLDERS
They just broke lots of apps (mobile, bots, their own mobile client, their own classic interface) being in center of Bitcoin economy.
Mt.Gox made fundamental changes to their API leaving warning about this only in specialized subforum.
NO OFFICIAL PRESS RELEASE
NO OFFICIAL EMAIL TO API KEYS HOLDERS
They just broke lots of apps (mobile, bots, their own mobile client, their own classic interface) being in center of Bitcoin economy.
Is this why my Bitcoinium app broke?
I've been recommending MTGOX/Coinlab to the people I meet, but I've been exploring a bit myself. I describe MTGOX as the least crappy exchange.
Yeah, back up. 20 minutes of downtime.
Back up for me (UK)
15 minutes of downtime. No response from Europe. Feeds dead.
5k single sell and Gox disappeared from radars.
https://bitcointalksearch.org/topic/gox-goxxed-160335
https://bitcointalksearch.org/topic/gox-goxxed-160335
Don't see why anyone wants to do business with an exchange holding tens of thousands of bitcoinica user funds for months not willing to
talk to the liquidators or return bitcoins/cash that isn't theirs!
talk to the liquidators or return bitcoins/cash that isn't theirs!
btc-e?
Gox
Don't see why anyone wants to do business with an exchange holding tens of thousands of bitcoinica user funds for months not willing to
talk to the liquidators or return bitcoins/cash that isn't theirs!
talk to the liquidators or return bitcoins/cash that isn't theirs!
btc-e?
Careful with BTC-E, they have an outrageous BTC withdrawal fee.
And have the lowest trading fee
Don't see why anyone wants to do business with an exchange holding tens of thousands of bitcoinica user funds for months not willing to
talk to the liquidators or return bitcoins/cash that isn't theirs!
talk to the liquidators or return bitcoins/cash that isn't theirs!
Not sure how you do a closed-loop sell on BitStamp, buy on BTC-E arb system, without losing out in automatic exchanger fees.
Its not a cross-trading. They all have same picture (primary copying gox so far plus/minus bitinstant bots fees). All trend lines, even short term, are same. You can look at mtgox as to liquidity market and make buy/sell decisions based on that, but buy and sell on other exchanges.This scheme moves mtgox pain to bot keepers in exchange to some price slip due to bigger spread.
mtgoxusd:
btceusd:
bitstampusd:
Not sure how you do a closed-loop sell on BitStamp, buy on BTC-E arb system, without losing out in automatic exchanger fees.
I would like to trade on btc-e but it is a real pain to get $$$ funds into.
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Until otherwise provided for, BitStamp is the only place I'll touch.
MtGox is the Paypal of Bitcoin. Stop using that which we swear to fight against.
MtGox is the Paypal of Bitcoin. Stop using that which we swear to fight against.
Yeah, they moving directly to uncle Sam legal hands. This may kill a lot of things. I dunno whether it's good or not, but i really don't like surprises and major changes.
People, please make more liquidity on other places asap by moving there.
Sure I interested in liquidity as trader, but we really need to decentralize exchanges liquidity. >70% of world bitcoin liquidity being in gox is really not good situation. One shot may kill alot.
Personally I moved to btce and bitstamp, 30/70. This looks good for my liquidity demands.
People, please make more liquidity on other places asap by moving there.
Sure I interested in liquidity as trader, but we really need to decentralize exchanges liquidity. >70% of world bitcoin liquidity being in gox is really not good situation. One shot may kill alot.
Personally I moved to btce and bitstamp, 30/70. This looks good for my liquidity demands.
I think I want to move to BitStamp/BTC-e for more of my trading; but mostly due to this:
Quote
Dear 420,
You are currently making use of a system which will be deprecated on Wed 10 Apr 2013 12:00:00 AM GMT:
Generation of USD and CAD redeemable codes will not be possible due to legal issues
Please note that after this date, using this system won't be possible anymore and will instead lead to an error.
Thank you for your attention.
System Staff
Tibanne Co. Ltd.
You are currently making use of a system which will be deprecated on Wed 10 Apr 2013 12:00:00 AM GMT:
Generation of USD and CAD redeemable codes will not be possible due to legal issues
Please note that after this date, using this system won't be possible anymore and will instead lead to an error.
Thank you for your attention.
System Staff
Tibanne Co. Ltd.
I wouldn't say everyone is using mtgox, but you have a point. The problem is, if every government in the world will follow US FinCEN's "recommendation", it would kill "exchangeless" p2p trade started by localbitcoins.com
Bitcoin economy is totally centralized to Mt.Gox.
Everything depends on Mt.Gox: ewallets amd merchants use gox, trading feeds use bitcoincharts provider which has KK Tibane Inc owner.
This is nonsense for decetralized currency. If Gox fail we will all crash. And it actually shown example with breaking API.
What will happen if it will have legal issues?
It is central point of failure of bitcoin economy now.
Everything depends on Mt.Gox: ewallets amd merchants use gox, trading feeds use bitcoincharts provider which has KK Tibane Inc owner.
This is nonsense for decetralized currency. If Gox fail we will all crash. And it actually shown example with breaking API.
What will happen if it will have legal issues?
It is central point of failure of bitcoin economy now.
Actually I am tired of this shit happening on MtGox. I considered it is not suitable for good trading as it always provides traders with surprises. Points:
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
Totally agree with you on this point. Unfortunately Gox is the only exchange capable of providing enough liquidity for large capital. It would be awesome to see some competition rising between exchanges. Every one of them has a room for improvement.
I think smoothing funds between exchanges even better idea. Bitstamp + btce will bring pretty enough liquidity for now for me.
I personally would recommend bitfloor or bitstamp
I will be happy to switch to one. But btc-e is the second liquid exchange after Gox. Scalp trading even with $10k is pain there for now.
All others are suitable with $1000 or less trading budget.
All others are suitable with $1000 or less trading budget.
Mtgox is pissing me off as well. But dont expect too much better from btc-e. They are scammers, but if you stick to btc-usd, you should be ok. They havent resorted to out right stealing funds yet, that I know of. The interface is much better than mtgox, but btc-e has a LOT of downtime. We need a new exchange ran by reputable people, that can handle the traffic.
Very happy you finally saw the light and chose to move your bitcoins. Mtgox will go down in flames. It will be a lovely day
Quick someone call the waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaambulance.
Ah! And the main point due to which I considered to create such topic.
Mt.Gox made fundamental changes to their API leaving warning about this only in specialized subforum.
NO OFFICIAL PRESS RELEASE
NO OFFICIAL EMAIL TO API KEYS HOLDERS
They just broke lots of apps (mobile, bots, their own mobile client, their own classic interface) being in center of Bitcoin economy.
Mt.Gox made fundamental changes to their API leaving warning about this only in specialized subforum.
NO OFFICIAL PRESS RELEASE
NO OFFICIAL EMAIL TO API KEYS HOLDERS
They just broke lots of apps (mobile, bots, their own mobile client, their own classic interface) being in center of Bitcoin economy.
It was in Jan 2013. This glitch is related to their multi-currency trading implementation. In some conditions low-liquid currency pair trading affects orders from btcUSD pair, so price shortly goes above orders, where it can not go in this moment. Just imagine at current order walls situation - price spikes to $100 then comes back w/o affecting walls picture.
Actually I am tired of this shit happening on MtGox. I considered it is not suitable for good trading as it always provides traders with surprises. Points:
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
Where did the price went to $14?? * Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
Add to Gox "features" (more to come as I start remember):
* Constantly banning my bots for "too frequent requests" reason. There are no declaration what is frequent and what is not! Fucking exacly please! Even 30 secs is frequent. I should determine this limit expirementally for several days. And some time after my bot is banned again. What is you API for then?
Tux says please use websocket instead. GREAT. How should I use it if it crashed 20 times a day?
Even Coinlab (their official partner!) constantly shows "Mt.Gox sockets are down, price value should display with delays".
* Constantly banning my bots for "too frequent requests" reason. There are no declaration what is frequent and what is not! Fucking exacly please! Even 30 secs is frequent. I should determine this limit expirementally for several days. And some time after my bot is banned again. What is you API for then?
Tux says please use websocket instead. GREAT. How should I use it if it crashed 20 times a day?
Even Coinlab (their official partner!) constantly shows "Mt.Gox sockets are down, price value should display with delays".
Actually I am tired of this shit happening on MtGox. I considered it is not suitable for good trading as it always provides traders with surprises. Points:
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
Heh. Pennis.
Actually I am tired of this shit happening on MtGox. I considered it is not suitable for good trading as it always provides traders with surprises. Points:
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
* Order lag (its a bug actually casted to feature!)
* Trade interrupts, engine freeze. From minutes to hours.
* Sudden price false spikes, for example my ask order is at $13.80 and price went to $14 then down without affecting my order.
* Absolutely no feedback on above from Mt.Gox side (dummy answers). They pretend its okay and running fine.
* The most draconian fees in bitcoin world. They leave all above untouched having about up to $100.000 or even greater on daily fees.
I am silent about fiat withdrawals issues. This subforum should have a lot of such.
Taking into account all positive and negative effects of my decision, I decided that working with Gox is a pain in ass full of hidden risks which can overwhelm profits some day.
I move to BTC-E. I am not a big fish for Gox, but seems that big for btc-e. And liquidity issues are less pain in ass than mtgox ones on this stage.
I make this decision public to show my big pennis to Mt.Gox.
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