941900+ entries in 0.688s
tiberiusiv: if you are cashing out you are paying attention
to BIDS
ThickAsThieves: gox buybox says, pay
this price and you get your coins
ThickAsThieves: SR buyers, people who just buy when wthey get
their deposits, people cashing out
Bugpowder: yeah but
the bid and ask are stale under high
trading volume
tiberiusiv: thats not
the suggested price in
the buy box
Bugpowder: traders with enough capital
to move
the market understand what is happening
Bugpowder: ThickAsThieves: I disagree.
There price just becomes unknown.
ThickAsThieves: like i said when Gox data freezes, like
their socket, or more importantly,
their suggested price in
the Buybox, it effectively changes
the price
to
that until it stops
gribble: BTCUSD
ticker | Best bid: 63.25112, Best ask: 63.97999, Bid-ask spread: 0.72887, Last
trade: 63.97999, 24 hour volume: 159365.08473773, 24 hour low: 52.34560, 24 hour high: 72.86999, 24 hour vwap: 63.87592
Bugpowder: and
there are other exchanges
that
trade pigs and steers and frozen concentrate OJ futures. But CME dominates
them
tiberiusiv: competing exchanges only drive down
trading fees
Bugpowder: this point seems fairly academic
though
Bugpowder: tiberiusiv:
too much
transfer friction
mod6: you make me almost want
to rage quit
this shit
tiberiusiv: bugpowder: bots arbitrage all
the exchanges
Bugpowder: all other exchages pay attention
to
the gox price
tiberiusiv: you didnt know
the difference between
the 2
Bugpowder: gox users do not pay attention
to
the price on any other exchange
mod6: i expected someone as smart as yourself
to know
the differnce
mod6: and how is
that fucking different
than what i was
trying
to say before you called me an idiot you faggot
ThickAsThieves: they lead
thru buyer using it as spot,
thru bots using it,
thru asset exchanges using,
thru chart reports using it
tiberiusiv: the others only seem like
that lag, because of lack of activity
splnkr: not just a specific
type of asset
Bugpowder: plot
the prices of various exchanges vs. gox
Bugpowder: the gox market definitely sets
the price
splnkr: tiberiusiv:
this is a semantic argument
tiberiusiv: gox itself is just
the most liquid of
those venues
ThickAsThieves: i
think its absurd
to say
that gox doesnt have influence on MANY fronts
that influence price
tiberiusiv: there is 1 BTC market with many venues where
to meet buyers or sellers
Bugpowder: Europe will pay much more
than US if russia
turns off
the
taps, but
the effects are still felt globally
Bugpowder: tiberiusiv:
THey are
the same market but
there is friction in
the links. Very similar
to
the natural gas market
splnkr: without a liquid means of exchanging non-BTC funds among exchanges, i don't see how
they're one market
splnkr: mt gox is
the biggest so it gets
the attention
gribble: There are currently 37048263 bitcoins demanded at or over 0.0 USD, worth 6222641.70973 USD in
total. | Data vintage: 0.0152 seconds
tiberiusiv: quit
thinking exchanges are seperate markets
splnkr: the market is fragmented.
that's
the issue.
mod6: what in
the world are you doing her
mod6: thats what i've been
trying
to say
tiberiusiv: thickasthieves:
the WHOLE market is 1 place.
tiberiusiv: so
the price declines until buyers are willing
to eat up
the size offered
tiberiusiv: its simple as
that, and
there were no willing buyers
to pickup
that size
ThickAsThieves: so
the whole market coincidently drops $5 when gox does, with no relation?
tiberiusiv: participants needed US dollars for whatever reason so
they sold bitcoins
ThickAsThieves: but you dont
think
their bots influence price based on gox?
tiberiusiv: thickasthieves: campbx is extremely *illiquid*,
that is why it seems it lags mtgox
tiberiusiv: you have 0 clue what you are
talking about mod6 so be quiet :)
mod6: ;;gpg info
tiberiusiv
tiberiusiv: exchanges are simply forums for people
to gather and
through
the auction style set prices
tiberiusiv: they arent racing each other
to a bottom
mod6: there needs
to be a few more exchanges with just as much or more liquidity and volume which don't race eachother
to "a bottom" but just find a happy stable price amongst
themselfs
tiberiusiv: they dont
trail gox,
they just have less activity
tiberiusiv: they simply have
the most participants
ThickAsThieves: but arent 'all of
the other sxchanges" basing decsisions on gox?
tiberiusiv: mod6: gasoline is one of
the most competitive markets around
tiberiusiv: whats
the difference whose price you use? gox at
the moment simply is
the most liquid
tiberiusiv: its
the within
the same range as all
the other exchanges
tiberiusiv: theres nothing wrong with
the gox price
mod6: 3 stations,
three corners of
the intersection.
mod6: i mean,
think of how
they do gas-station pricing on price per gallon?
mod6: i don't
think anyone should choose anything per-se
mod6: everyone else wants
to sell
their BTC
to
tiberiusiv for $25 if
there is
too low of vol and
the price collapses
ThickAsThieves: i really believe
that when
their suggested price gets stuck, it pulls down
the whole market
mod6: the fact we hang on gox data so much needs
to change imho