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The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying thro

by jnbiche 13y ago

The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.

clarkm 13y ago
Bitstamp is also running up near 190, so it makes sense that lot of the new money has come in through MtGox. https://bitcoinity.org/markets/bitstamp/USD https://bitcoinity.org/markets/bitstamp/USD
- mayneack 13y ago
  What's the cause of the consistent disparity between exchanges? Is it just the slow speed of transactions?
  - wmf 13y ago
    You can't actually withdraw USD from MtGox, so all the USD prices there are essentially fiction.
conductr 13y ago
My thought was new money too. Maybe the press from the SR bust. Also, maybe confidence because the price withheld the SR bust. But... what do I know
InXorWeTrust 13y ago
> a lot of this rise is coming from new money. Speculation, but could some of the new money be coming from CryptoLocker[0]? [0] http://www.bleepingcomputer.com/virus-removal/cryptolocker-ransomware-information http://www.bleepingcomputer.com/virus-removal/cryptolocker-r...
- garybizzle 13y ago
  yes, absolutely, it's actually quite likely considering it's a very thinly traded currency.
ufmace 13y ago
Check the exchange volume distribution chart: http://bitcoincharts.com/charts/volumepie/ http://bitcoincharts.com/charts/volumepie/ Looks like Mt. Gox no longer has such a huge share of the market. Bitstamp is almost even with them.
- PhasmaFelis 13y ago
  Who would have thought that investors would ever lose confidence in the Magic: The Gathering Online Exchange?
jpmattia 13y ago
> new money I'd love to see that carefully defined.
mrb 13y ago
Top 3 exchanges over the last 30 days: http://bitcoinity.org/markets/list?currency=ALL&span=30d http://bitcoinity.org/markets/list?currency=ALL&span=30d 39% mtgox 23% bitstamp 17% btcchina And over the last 24h: http://bitcoinity.org/markets/list?currency=ALL&span=24h http://bitcoinity.org/markets/list?currency=ALL&span=24h 33% btcchina 25% bitstamp 23% mtgox In other words, Bitcoin's popularity is massively increasing in China, as we speak, and this is what is causing a surge of the exchange rate. Other observers have noted this as well: http://bitcoinmagazine.com/7615/bitcoin-breaks-1000-cny-rally-continues/ http://bitcoinmagazine.com/7615/bitcoin-breaks-1000-cny-rall...
- waterlesscloud 13y ago
  You can literally watch BTC China lead the way. Their price goes up before Gox does. Having said that, a lot more coins are on BTC China today than yesterday, so this effect may decrease.

by jnbiche 13y ago

clarkm 13y ago

Bitstamp is also running up near 190, so it makes sense that lot of the new money has come in through MtGox. https://bitcoinity.org/markets/bitstamp/USD https://bitcoinity.org/markets/bitstamp/USD

mayneack 13y ago
What's the cause of the consistent disparity between exchanges? Is it just the slow speed of transactions?
- wmf 13y ago
  You can't actually withdraw USD from MtGox, so all the USD prices there are essentially fiction.

conductr 13y ago

My thought was new money too. Maybe the press from the SR bust. Also, maybe confidence because the price withheld the SR bust. But... what do I know

InXorWeTrust 13y ago

> a lot of this rise is coming from new money. Speculation, but could some of the new money be coming from CryptoLocker[0]? [0] http://www.bleepingcomputer.com/virus-removal/cryptolocker-ransomware-information http://www.bleepingcomputer.com/virus-removal/cryptolocker-r...

garybizzle 13y ago
yes, absolutely, it's actually quite likely considering it's a very thinly traded currency.

ufmace 13y ago

Check the exchange volume distribution chart: http://bitcoincharts.com/charts/volumepie/ http://bitcoincharts.com/charts/volumepie/ Looks like Mt. Gox no longer has such a huge share of the market. Bitstamp is almost even with them.

PhasmaFelis 13y ago
Who would have thought that investors would ever lose confidence in the Magic: The Gathering Online Exchange?

jpmattia 13y ago

> new money I'd love to see that carefully defined.

mrb 13y ago

Top 3 exchanges over the last 30 days: http://bitcoinity.org/markets/list?currency=ALL&span=30d http://bitcoinity.org/markets/list?currency=ALL&span=30d 39% mtgox 23% bitstamp 17% btcchina And over the last 24h: http://bitcoinity.org/markets/list?currency=ALL&span=24h http://bitcoinity.org/markets/list?currency=ALL&span=24h 33% btcchina 25% bitstamp 23% mtgox In other words, Bitcoin's popularity is massively increasing in China, as we speak, and this is what is causing a surge of the exchange rate. Other observers have noted this as well: http://bitcoinmagazine.com/7615/bitcoin-breaks-1000-cny-rally-continues/ http://bitcoinmagazine.com/7615/bitcoin-breaks-1000-cny-rall...

waterlesscloud 13y ago
You can literally watch BTC China lead the way. Their price goes up before Gox does. Having said that, a lot more coins are on BTC China today than yesterday, so this effect may decrease.