Will you continue to use Mt. Gox after today?

TimJBenham

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Quote from: PachucoBro on April 05, 2013, 06:00:17 PM

If BitCoins to last with the same dollars flowing in and out of the system... MtGOX or some other large corporate entity will ramp up and make it a single EXCHANGE and then you can open up wallets anywhere that trade on that exchange. Similar to the FOREX that we have now.

Actually there is no one big FOREX exchange. It is a distributed network.

Quote from: PachucoBro on April 05, 2013, 06:00:17 PM

Better to have one big exchange that puts all of its efforts and monies into protecting it and maintaining it and not be worry about every Tom, Dick and Harry complaining about their $100 deposit not going through.

If you mean going to a traditional model where brokers act as gateways to the exchange then you might be on to something. For a long time I thought that model was antiquated -- who needs brokers? just let everyone deal directly with the exchange! I'm starting to wonder whether the old school stock broking industry was as useless as a I thought.

PachucoBro

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Quote from: ?? on ??

Even if gox was a shining example of user satisfaction trusting just one exchange for the fiat-btc rates of almost the entire Bitcoin ecosystem is a bad idea.

Jsut to clarify... MtGOX does not set any pricing... we the people do. The only way they get money is on the transaction fee of 0.6% when you buy BTC on the exchange.

In my example of making it all ONE exchange, MtGOX would charge all the wallet sites a fee (or portion of the transaction fee) to utilize their exchange.

Think Brokerages like we have now. They pay fees etc for the use of the exchange system.

PachucoBro

newbie

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If BitCoins to last with the same dollars flowing in and out of the system... MtGOX or some other large corporate entity will ramp up and make it a single EXCHANGE and then you can open up wallets anywhere that trade on that exchange. Similar to the FOREX that we have now.

Better to have one big exchange that puts all of its efforts and monies into protecting it and maintaining it and not be worry about every Tom, Dick and Harry complaining about their $100 deposit not going through.

BitcoinTate

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DigiByte Founder

Quote from: DataPlumber on April 04, 2013, 05:49:42 PM

Quote from: fnordfnordfnord on April 04, 2013, 04:26:59 PM

Quote from: BitcoinTate on April 03, 2013, 09:35:04 PM

Quote from: justusranvier on April 03, 2013, 09:19:15 PM

Quote from: SomeWhere on April 03, 2013, 09:16:31 PM

Their engineering team is a joke if they haven't fixed the lag and put online a decent trading engine after MONTHS AND MONTHS of time. They completely blew their lead in the field and will just become a mediocre exchange soon enough.

From what I've heard there is no "team". It's just one guy.

The 18 year old PHP wiz... thats usually how these things work.

There is no such thing as a PHP "wiz" Anyone who qualifies as a "wiz" knows better than to use PHP for anything critical or important.

Not to say that I don't agree with your sentiment 100+%, but I've found that many people tend to blame the application layer for problems that are actually at the database layer, and that many so-called DBAs can't performance-tune their way out of a wet paper bag. But when you restart the app layer, and suddenly everything works again (for a while), it's easy to blame the app layer, without realizing that you haven't fixed the underlying concurrency problem, you've merely swept it under the rug for a little while until your site's users return.

Very good points. lol! How their database queries, tables cache's etc are setup can result in a night and day difference. But hell, even installing mod page speed and some other tweaks could help in the short term.

jackofspades

newbie

Activity: 31

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I dont even care about gox for anything other than the most accurate
exchange rate honestly. I use bitfloor and even tho its not that accurate
it is way less of a fee and instant and convenient for me!

DataPlumber

full member

Activity: 126

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Quote from: fnordfnordfnord on April 04, 2013, 04:26:59 PM

Quote from: BitcoinTate on April 03, 2013, 09:35:04 PM

Quote from: justusranvier on April 03, 2013, 09:19:15 PM

Quote from: SomeWhere on April 03, 2013, 09:16:31 PM

Their engineering team is a joke if they haven't fixed the lag and put online a decent trading engine after MONTHS AND MONTHS of time. They completely blew their lead in the field and will just become a mediocre exchange soon enough.

From what I've heard there is no "team". It's just one guy.

The 18 year old PHP wiz... thats usually how these things work.

There is no such thing as a PHP "wiz" Anyone who qualifies as a "wiz" knows better than to use PHP for anything critical or important.

Not to say that I don't agree with your sentiment 100+%, but I've found that many people tend to blame the application layer for problems that are actually at the database layer, and that many so-called DBAs can't performance-tune their way out of a wet paper bag. But when you restart the app layer, and suddenly everything works again (for a while), it's easy to blame the app layer, without realizing that you haven't fixed the underlying concurrency problem, you've merely swept it under the rug for a little while until your site's users return.

fnordfnordfnord

newbie

Activity: 56

Merit: 0

Quote from: BitcoinTate on April 03, 2013, 09:35:04 PM

Quote from: justusranvier on April 03, 2013, 09:19:15 PM

Quote from: SomeWhere on April 03, 2013, 09:16:31 PM

Their engineering team is a joke if they haven't fixed the lag and put online a decent trading engine after MONTHS AND MONTHS of time. They completely blew their lead in the field and will just become a mediocre exchange soon enough.

From what I've heard there is no "team". It's just one guy.

The 18 year old PHP wiz... thats usually how these things work.

There is no such thing as a PHP "wiz" Anyone who qualifies as a "wiz" knows better than to use PHP for anything critical or important.

Newscastix

sr. member

Activity: 349

Merit: 250

where is the voting option "never used The Gox" Huh

justusranvier

legendary

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Quote from: gmiwenht on April 04, 2013, 01:20:45 AM

Wasn't Bitfloor hacked?

It was. That's why I only use them as a convenient way to buy bitcoins with cash, and immediately withdraw them.

NABiT

sr. member

Activity: 344

Merit: 259

I have never used MtGox but it hasn't looked like fun of late.

I do use Bitstamp and like it a lot, just need to keep an eye on the banks in that area (Slovenia)

I will probably give Bitcoin Central a try when they are back up and use EUR

gmiwenht

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Merit: 10

Wasn't Bitfloor hacked?

The one thing that we do know is that Mt.Gox security is excellent. I trade almost daily so I cannot afford to keep my funds in a paper wallet.

Herodes

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Merit: 1000

Just love the lag - so much drama! Grin

BitcoinTate

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DigiByte Founder

Quote from: justusranvier on April 03, 2013, 10:27:52 PM

Quote from: BitcoinTate on April 03, 2013, 10:05:47 PM

Your the 5th person I have seen talk about Bitfloor in a positive manner. I haven't seen anyone post about Bitstamp. Guess I will be checking out Bitfloor soon.

I was very happy with Bitfloor until today:

https://bitcointalksearch.org/topic/m.1736659

Hmm, guess there have been problems everywhere. The whole BTC system is experiencing growing pains.

justusranvier

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Quote from: BitcoinTate on April 03, 2013, 10:05:47 PM

Your the 5th person I have seen talk about Bitfloor in a positive manner. I haven't seen anyone post about Bitstamp. Guess I will be checking out Bitfloor soon.

I was very happy with Bitfloor until today:

https://bitcointalksearch.org/topic/m.1736659

randrace

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Activity: 329

Merit: 250

LTC -> BTC -> Silver!

Does anyone have experience with CampBX?

BitcoinTate

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DigiByte Founder

Quote from: salfter on April 03, 2013, 10:04:47 PM

Quote from: Razick on April 03, 2013, 09:39:35 PM

I would switch to BTC-E if I could transfer without a loss, but the rate disparity doesn't appeal to me for a BTC transfer. Mt Gox needs to get their ducks is a row.

I initially signed up with BTC-e to exchange mined Litecoin for Bitcoin. Their BTC0.01 withdrawal fee was way out of line, though...and that was before the recent run-up. I've ended up using Bitparking for that purpose.

As for trading between $ and BTC, MtGox has been mostly OK. There was a bit of annoyance on Dwolla's part this week when I wanted to send to MtGox for a purchase (they wanted ID), but that should be a one-time thing.

OTOH, between buying BTC last night and submitting an order for some silver today, there was enough increase in value to cover shipping and still leave me with some change. Cool

Maybe I'll try letting it double next time so I can get a 2-for-1. Grin

I've created an account at CampBX and have started fooling a bit with IRC to use #bitcoin-otc, but have done nothing much with either of those yet.

Yeah the 0.01 fee at BTC-E is bullshit! That's $1.28 at the current price.

BitcoinTate

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DigiByte Founder

Quote from: randrace on April 03, 2013, 10:01:15 PM

Quote from: muyuu on April 03, 2013, 08:15:46 PM

What's the option if you stopped using them prior to this?

I use Coinbase and Bitfloor. Coinbase is not ideal for trading and often out of coins. It's not good for day trading, but could be convenient for long term buys.

Most of my buying and selling is done on Bitfloor, which I've grown to love.

Your the 5th person I have seen talk about Bitfloor in a positive manner. I haven't seen anyone post about Bitstamp. Guess I will be checking out Bitfloor soon.

salfter

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My PGP Key: 92C7689C

Quote from: Razick on April 03, 2013, 09:39:35 PM

I would switch to BTC-E if I could transfer without a loss, but the rate disparity doesn't appeal to me for a BTC transfer. Mt Gox needs to get their ducks is a row.

I initially signed up with BTC-e to exchange mined Litecoin for Bitcoin. Their BTC0.01 withdrawal fee was way out of line, though...and that was before the recent run-up. I've ended up using Bitparking for that purpose.

As for trading between $ and BTC, MtGox has been mostly OK. There was a bit of annoyance on Dwolla's part this week when I wanted to send to MtGox for a purchase (they wanted ID), but that should be a one-time thing.

OTOH, between buying BTC last night and submitting an order for some silver today, there was enough increase in value to cover shipping and still leave me with some change. Cool

Maybe I'll try letting it double next time so I can get a 2-for-1. Grin

I've created an account at CampBX and have started fooling a bit with IRC to use #bitcoin-otc, but have done nothing much with either of those yet.

randrace

sr. member

Activity: 329

Merit: 250

LTC -> BTC -> Silver!

Quote from: muyuu on April 03, 2013, 08:15:46 PM

What's the option if you stopped using them prior to this?

I use Coinbase and Bitfloor. Coinbase is not ideal for trading and often out of coins. It's not good for day trading, but could be convenient for long term buys.

Most of my buying and selling is done on Bitfloor, which I've grown to love.

Razick

legendary

Activity: 1330

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Quote from: BitcoinTate on April 03, 2013, 09:42:53 PM

Quote from: Razick on April 03, 2013, 09:39:35 PM

I would switch to BTC-E if I could transfer without a loss, but the rate disparity doesn't appeal to me for a BTC transfer. Mt Gox needs to get their ducks is a row.

BTC-E is always in last place. I have been hearing good things about Bitfloor recently. Anyone have first had experience?

I'm about to transfer my funds and try it out. Looks good.

Topic: Will you continue to use Mt. Gox after today? (Read 3755 times)