Interesting. I did some digging and have a few follow ups: 1) Bid Ask spreads vary by exchange and currency, but it seems that with the exception of BT China a

Interesting. I did some digging and have a few follow ups: 1) Bid Ask spreads vary by exchange and currency, but it seems that with the exception of BT China an MtGox, the bid ask spreads can be quite wide. Prices for BTC/USD also very a good bit by exchange, meaning the price a merchant sets might be influenced by which exchange they use. [1] http://bitcoinwatch.com http://bitcoinwatch.com 2) The MtGox live chart seems to imply that an order of a few bitcoins (or a few thousand dollars) could have a profound impact on the actual price of BTC/USD. This does not seem particularly liquid to me, unless I misunderstand the chart. http://mtgoxlive.com/orders http://mtgoxlive.com/orders