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Huge opportunity here for a proper exchange / trading platform to be built. There is obviously a demand for it.
by fnordfnordfnord 14y ago
Huge opportunity here for a proper exchange / trading platform to be built. There is obviously a demand for it.
- minimax 14y ago1) Regulatory issues are a big question mark. 2) There isn't actually that much volume compared real electronic exchanges. Just looking at the Mt Gox page from today it looks like $30MM USD worth of bitcoins have been traded. Hard to make any real money off of that.
- fnordfnordfnord 14y agoIf it was a sure bet that doing it would make you rich tomorrow, don't you think there would be scores of people racing to get it done? It's hard to find fruit hanging this low, if coinlab doesn't get it, I have a feeling someone will.
- ProblemFactory 14y ago> 2) There isn't actually that much volume compared real electronic exchanges. Just looking at the Mt Gox page from today it looks like $30MM USD worth of bitcoins have been traded. Hard to make any real money off of that. While it might have much less volume compared to a "real" exchange, MtGox fees are 0.6% of each transaction. $180k daily revenue is certainly "real money" for a startup.
- wmf 14y agoProper trading platforms (TradeHill, CampBX, etc.) were built and then no one used them.
- fnordfnordfnord 14y agoCampBX web interface is terrible, but I admit, ought to be a competitor since they at least appear to be run better than gox. TradeHill's first act ended badly. In Act II they have a min 10k deposit requirement. I keep waiting for interesting news about coinlab's taking over mtgox, but so far, not much.