4 ms·
Mt Gox is already bleeding to death; it's just in slow motion because the same problems that make people wont to leave make it hard to leave. The over-valuation
by jccooper 13y ago
Mt Gox is already bleeding to death; it's just in slow motion because the same problems that make people wont to leave make it hard to leave. The over-valuation of BTC at Mt Gox (until recently) is evidence of capital flight through BTC due to their USD withdrawal problems; it's apparently turned around just now since the new BTC restrictions are even worse (and there's some fiat currencies--like the Yen--where you can still get money out.)
Either way, MtGox has been consistently out of line with market price, in a market with plenty of arbitraging, indicating that they have problems and people know it.
I don't know how to get easy numbers on exchange volume over time, but I do know that Mt Gox has fallen from the obvious top exchange to a solid third over the time I've paid attention (maybe half a year.) Why they still have any decent volume, I don't know; inertia, people still cashing out or waiting for Mt Gox to improve, suckers lured by the arbitrage opportunity, perhaps the Japanese domestic market (they're the only Yen exchange). I know I wouldn't touch the place with a 29.5 foot pole.