Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33042. (Read 26497438 times)
June 22, 2013, 09:03:43 PM
June 22, 2013, 08:14:39 PM
Let's expect a nice ride down 
June 22, 2013, 08:00:38 PM
June 22, 2013, 07:00:33 PM
June 22, 2013, 06:09:00 PM
In march they processed over $5.2M. Mt.Gox's volume in currency for march was around $120M.
Edit:
http://www.youtube.com/watch?v=eaJwiXN-8cI
Edit:
http://www.youtube.com/watch?v=eaJwiXN-8cI
did that have something to do with ASIC's?
Obviously it did and still that volume is a peanut, a tiny drop in the ocean
June 22, 2013, 06:02:57 PM
In march they processed over $5.2M. Mt.Gox's volume in currency for march was around $120M.
Edit:
http://www.youtube.com/watch?v=eaJwiXN-8cI
Edit:
http://www.youtube.com/watch?v=eaJwiXN-8cI
did that have something to do with ASIC's?
June 22, 2013, 06:00:36 PM
June 22, 2013, 05:42:02 PM
In march they processed over $5.2M. Mt.Gox's volume in currency for march was around $120M.
Edit:
http://www.youtube.com/watch?v=eaJwiXN-8cI
Edit:
http://www.youtube.com/watch?v=eaJwiXN-8cI
June 22, 2013, 05:26:25 PM
Not necessarily ...
Depends upon Bitpay's risk appetite and free cash-flow
They could quite easily play the arbitrage game if they wish, taking in BTC at the Bitstamp bid, selling at Gox and waiting it out.
In reality I think that their own business will suffer most as some people will not want to take an 8% haircut and will simply not use the service while this discrepancy exists
Depends so much on how the situation evolves and if MtGox can maintain client confidence in the interim
No idea how much volume they do, but given the size of the Bitcoin economy relative to the speculative turnover, I cannot imagine it is very much
Depends upon Bitpay's risk appetite and free cash-flow
They could quite easily play the arbitrage game if they wish, taking in BTC at the Bitstamp bid, selling at Gox and waiting it out.
In reality I think that their own business will suffer most as some people will not want to take an 8% haircut and will simply not use the service while this discrepancy exists
Depends so much on how the situation evolves and if MtGox can maintain client confidence in the interim
No idea how much volume they do, but given the size of the Bitcoin economy relative to the speculative turnover, I cannot imagine it is very much
It's peanuts. Bit pay has a joke volume. But still, Gox needs to pull his shit together or die. Hope Mark wakes up and go for a tour to find a fancy wall street company to buy his shop.
June 22, 2013, 05:01:00 PM
June 22, 2013, 04:35:03 PM
Quote
To calculate the exchange rate for US Dollars, we pull up-to-the-minute BID prices from three exchanges. We take the 2 that are closest together and toss out the third, so that a bad feed from one exchange will not affect our calculation. Of the 2 rates that remain, Bit-Pay uses the highest BID price as our exchange rate.
Effectively they are tossing Gox out for now ...
'Bad feed' ... lol
Can't blame them ... they are a business and (potentially) need to get money out. Gox is irrelevant for now.
Very crafty way of not mentioning the 'situation' (ssshhhh)
Thanks for that Phoenix1 - I posted it in the thread I started (mentioned above).
So, how much of MtGox's volume is from Bitpay? Basically, Gox is going to lose a fair amount of business from Bitpay if they are usually the highest price.
June 22, 2013, 04:00:41 PM
June 22, 2013, 03:52:45 PM
Looks like MtGox is losing strength. http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html?oid=1039_1
Thursday, June 20, 2013
Update on BitPay Exchange Rate Calculations
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
BitPay is committed to offering the fairest possible rate to the buyer, while minimizing our counterparty risk.
Thursday, June 20, 2013
Update on BitPay Exchange Rate Calculations
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
BitPay is committed to offering the fairest possible rate to the buyer, while minimizing our counterparty risk.
Which in the current market would amount to the MTGox price because
1) MtGox has the highest price by a significant margin.
2) MtGox still has the highest liquidity.
Well I don't know how that works out but BitPay is effectively using the bid price of Bitstamp right now. See for yourself: https://bitpay.com/bitcoin-exchange-rates
All that does is make me not want to purchase anything with bitcoins until this price gap has leveled out.
June 22, 2013, 03:50:22 PM
2) MtGox still has the highest liquidity.
Huh? I thought liquidity was, by definition, the capability to take money in and out?
June 22, 2013, 03:12:06 PM
Looks like MtGox is losing strength. http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html?oid=1039_1
Thursday, June 20, 2013
Update on BitPay Exchange Rate Calculations
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
BitPay is committed to offering the fairest possible rate to the buyer, while minimizing our counterparty risk.
Thursday, June 20, 2013
Update on BitPay Exchange Rate Calculations
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
BitPay is committed to offering the fairest possible rate to the buyer, while minimizing our counterparty risk.
Which in the current market would amount to the MTGox price because
1) MtGox has the highest price by a significant margin.
2) MtGox still has the highest liquidity.
June 22, 2013, 03:00:34 PM
June 22, 2013, 02:55:35 PM
But don't wanna sell em cos I still love them....an obsessive trap. Is there some sort of therapy thread on here?
don't be all in. if you are, sell some
June 22, 2013, 02:01:24 PM
June 22, 2013, 01:00:30 PM
June 22, 2013, 12:48:02 PM
Watching this whole BTC experiment unfold is really exciting, the good with the bad...
[/quote]
yes it is, but it can get stale at times
bubble times was awesome until the mid april crash. Now I'm just watching myself very slowly lose money. But don't wanna sell em cos I still love them....an obsessive trap. Is there some sort of therapy thread on here?[/quote]
What country are you in? That might help you figure out if you want to sell now.
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