4 ms·

> the US market, wich is a tiny fraction of the worldwide Bitcoin market How do you come to this conclusion? Take a look at the volume on bitcoincharts. mtgo

> the US market, wich is a tiny fraction of the worldwide Bitcoin market How do you come to this conclusion? Take a look at the volume on bitcoincharts. mtgoxUSD is beating the pants off everything in terms of volume. It also loses tons of volume after the seizure on the 17th. This is pretty consistent with the idea that most BTCers are in the United States (most of the exchange volume is BTC<>USD) and their behavior changed drastically right when Dwolla was seized (the volume died after the 17th).

mrb 13y ago
"How do you come to this conclusion?" 1. Why do you equate mtgoxUSD to the US market? The majority of MtGox customers trading USD are non-americans. 2. Only ~20% of the Bitcoin connected nodes are located in the USA: http://www.zerohedge.com/news/2013-05-27/mapping-bitcoins-global-adoption http://www.zerohedge.com/news/2013-05-27/mapping-bitcoins-gl... 3. Only ~9% of the world internet users are americans, making the USA a tiny market with respect to the potential future of Bitcoin. 4. bitcoincharts exclude many foreign exchanges (metabank in Russia, where Bitcoin is HUGE), all private trades (eg. Avalon claimed they sold all the bitcoins they needed to sell to build their 110nm ASIC at TSMC, to private buyers in China; the fact they were able to do this with no pb just tells you how big private trading is in China), etc.
- lordgilman 13y ago
  > The majority of MtGox customers trading USD are non-americans So why does their volume drop off after the 17th? That's the reason why I brought that up - only Americans are effected by the Dwolla closure.