johan.gradin

BTC on various exchanges

BTCE:BTCUSD   Bitcoin / Dollar
93 3 1
LOL
dandastasziek
2 years ago
Hello Johan, great and informative chart as always! I'd like you to ask, why the prices are various? What if someone bought BTC on mtgox now, and right after that sold it at the two other tading places? This should take the prices of all BTCstocks to same value? or? I think I am missing something here in this industry :/ Thank you.
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johan.gradin dandastasziek
2 years ago
Hello dana, i'm not an expert on bitcoin, way above my paygrade ;) hehe.
But... The first and obvious observation is.. that it's exchange related, most volume ("speculative and investing") that goes through and peoples holdings are with MTGOX. If you can't get your money out, there's a loss of confidence. And that's obviously all that matters for a currency.

If you bought it at MTGOX right now in size, and sold it in size on the others, theoretically yeah. But There's a liquitidy risk problem to deal with. But if you're small size, try it.. I could try it, but i don't know about it.. since i'm not sure wouldn't be able to get out and convert bitcoins to regular moneys to buy a (suit, computer. etc..) . Fundamentally to take my moneys out of MTGOX.

I don't look at bitcoin as a currency as the GBP or EUR or DOLLAR IMO, it's possibly a currency in the form of memory. So they can coexist, and the environment is the key to that. :) Google kocherlakota "money is memory". that's my two cents, or two bitcoins ;)
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dandastasziek johan.gradin
2 years ago
Hello Johan, thank you for great reply. I was trying to find out something about it. So, the MTGOX has/had some technical issues. (https://www.mtgox.com/img/pdf/20140220-Announcement.pdf)... I've been talking wtih few people who are trading there from its start. All their accounts are frozen, they can't do anything with their bitcoins. And they hope that MTGOX will fix the problems and will set the price as is on the two other markets. If the price won't be set or fixed on the "real" price, people can try to buy it on the cheap price on MTGOX and sell it anywhere else. But their technical issues can occur any time, so I've been thinking for long time now, if to try it or not... I will better not do that. btw. I started reading that book, looking awesome, thank you very much once more! :)
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