The reasons for me to use Bitstamp are these:
1. No fees for depositing money through SEPA.
2. Requires only 3 confirmations when depositing bitcoins.
I understand that the situation is another if you are situated in the US of A.
Topic: Why no mass exodus from Mt Gox (Read 3191 times)
I think MtGox is still the only exchange that takes the fiat side of the business seriously. Everyone else is so small that they don't have to worry about things as much, and so they're more susceptible to being taken down by law enforcement / losing their money transfer access.
I'm all for competition, but the competition is not yet there.
Bitfloor is registered with FinCEN and keeps their user money in a separate account, for whatever that's worth. I'm all for competition, but the competition is not yet there.
I'm moving to BtcE
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I really hope they are going to fix their lag soon.. Otherwise they should just close for new members. If they can't handle the volumes today, how will they do it tomorrow?
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Network effect.
I'm not leaving Gox because they're battle tested. They've been forged in the heat of many hacks/hack attempts, so I know they're covering a lot more angles then these smaller up & coming exchanges. I'm sticking with experience until I see another exchange platform show and prove.
Why not give some other exchanges a chance to prove themselves? There are others that handle the Fiat angle just as well, if not better.
I'm not leaving Gox because they're battle tested. They've been forged in the heat of many hacks/hack attempts, so I know they're covering a lot more angles then these smaller up & coming exchanges. I'm sticking with experience until I see another exchange platform show and prove.
I think MtGox is still the only exchange that takes the fiat side of the business seriously. Everyone else is so small that they don't have to worry about things as much, and so they're more susceptible to being taken down by law enforcement / losing their money transfer access.
I'm all for competition, but the competition is not yet there.
I'm all for competition, but the competition is not yet there.
95% of my trade volume is from automated scripts, which assume that an ask placed at the current highest bid, or a bid placed at the current highest ask, will execute within a couple minutes.
Such assumptions don't hold on secondary exchanges - the script needs to be rewritten to place standing orders instead of spot orders. That takes time and effort that I haven't yet coaxed myself into spending.
Looking forward to when I get the time, though. Bitfloor looks promising.
Such assumptions don't hold on secondary exchanges - the script needs to be rewritten to place standing orders instead of spot orders. That takes time and effort that I haven't yet coaxed myself into spending.
Looking forward to when I get the time, though. Bitfloor looks promising.
I have a question to gox. If they know exponential fundamentals of bitcoin well, why the hell they didn't prepare having millions of monthly income?
I will not trade on gox until they have this shit. I loose money coz of this shit. And what should I answer for this Facebook fart?
"I excuse you?" "It's okay for few thousands bucks of non-taken profits" "Please continue, I like your lag very much".
The shit about NYSE and others having lags is shit! They are fighting for MICROSECONDS of order processing to satisfy traders demands. I don't ask microseconds, i ask at most few seconds - 1000s times bigger than in normal marketplace.
Until there isn't - fuck you with your excuses.
I will not trade on gox until they have this shit. I loose money coz of this shit. And what should I answer for this Facebook fart?
"I excuse you?" "It's okay for few thousands bucks of non-taken profits" "Please continue, I like your lag very much".
The shit about NYSE and others having lags is shit! They are fighting for MICROSECONDS of order processing to satisfy traders demands. I don't ask microseconds, i ask at most few seconds - 1000s times bigger than in normal marketplace.
Until there isn't - fuck you with your excuses.
Should've kept quiet. China nearing gox levels.
BTCChina is a 169usd at the moment. 
BTC-e seems good, but i never tryed it
Think i will now.. But i not can transfer BTC out from Goxxx ;( Fuck
The BTC withdraw page is blank.
The fee look cheap on BTC-e
In order to pay for server space, bandwidth, programmers, designers, and other costs, BTC-e imposes a standard: FEE – 0.2% fee on every transaction performed by all users of the website. This transaction may vary and may be different for each individual account
Think i will now.. But i not can transfer BTC out from Goxxx ;( Fuck
The BTC withdraw page is blank.
The fee look cheap on BTC-e
In order to pay for server space, bandwidth, programmers, designers, and other costs, BTC-e imposes a standard: FEE – 0.2% fee on every transaction performed by all users of the website. This transaction may vary and may be different for each individual account
Should've kept quiet. China nearing gox levels.
Sweet. I just checked my LR account. It has been 4 hrs and still no LR from BTC China. But it did say it could take a couple days. So not the arbitrage I was looking for.
Yeah, was hoping to take advantage of the higher BTCChina prices. But with fees it looks like a cycle is ~14% or am I missing something. This happens to be exactly the price difference
LR to Gox 4%
With a $30 spread like earlier today I had it pegged that for every 5 BTC I sold at BTC China I would make 6 BTC when I bought in again after 10% fees. So + 1 BTC
... problem is the transfer from BTC-China to LR can screw you if it takes a couple days.It's a bit more:
BTCChina trade: 0.3%
To LR: 6% to btcchina, 1% to LR
LR to gox: 5% (how'd you find 4?)
Buy at gox: 0.5%
12.8%
Right now it's 1 BTC yields 1.04. But with the delay it's not worth it.
Need to find a cheaper/faster way!
Sweet. I just checked my LR account. It has been 4 hrs and still no LR from BTC China. But it did say it could take a couple days. So not the arbitrage I was looking for.
Yeah, was hoping to take advantage of the higher BTCChina prices. But with fees it looks like a cycle is ~14% or am I missing something. This happens to be exactly the price difference
LR to Gox 4%
With a $30 spread like earlier today I had it pegged that for every 5 BTC I sold at BTC China I would make 6 BTC when I bought in again after 10% fees. So + 1 BTC
... problem is the transfer from BTC-China to LR can screw you if it takes a couple days. 
Left for Bitfloor today. Also have some btc on campbx in case i need a quick cash out (2 day usd withdrawal there).
Sweet. I just checked my LR account. It has been 4 hrs and still no LR from BTC China. But it did say it could take a couple days. So not the arbitrage I was looking for.
Yeah, was hoping to take advantage of the higher BTCChina prices. But with fees it looks like a cycle is ~14% or am I missing something. This happens to be exactly the price difference
I left three weeks ago. Bitfloor has served me well.
I keep hearing that. I am going to check them out as well as Bitstamp the next couple weeks. Jump to: