It's right about $100. You aren't looking at Mt. Gox, are you?

Hi there,

I'm looking to trade stars (d7o1d1s0) for bitcoins. Have completed numerous 4 figure trades in the internet poker transfer thread sending first and second. Happy to pay small vig and/or send second in small increments to reputable members. Looking for 0.6BTC initially and possibly 11 more in the next week. Market rate not looking to speculate.

Thanks

This is not the thread for trades.

Can anyone explain why Bitstamp is 98ish and mtgox 111?

The reports are that Mtgox takes up to two months to withdraw and one month to deposit. Few people are using it to convert money in and out of bitcoin anymore. All the payment processors have switched to bitstamp. The only people using mtgox are daytraders and people who don't know any better.

So is the price higher because there's an increased demand to buy BTC as everyone with cash in MtGox is trying to get out?

If you have cash at Gox, your options are wait forever, or turn it into Bitcoins at a high price, then take to an exchange that doesn't suck donkey balls, and lose 10%.

Anyone know where Coinbase is getting its quotes these days? It's lower than Gox but higher than any of the others on bitcoinity.

I think they went to some sort of weighted average calculation.

its still very clear that major price movements are initiated on Gox and other exchanges follow along. never the other way around. looking at Gox is still valid, imo.

there is no one price for a bitcoin and there likely never will be. the price you are able to and choose to pay for 1 bitcoin is heavily dependent on local circumstances/economy.

for ex, this is clear with the exchanges. Currently, you effectively cannot deposit or withdraw fiat to Mt Gox and subsequently, the price per bitcoin is worth less USD there than bitstamp or btc-e where you can withdraw. its fair to assume that if people are buying on Gox to sell on other exchanges (say bitstamp), then generally, Gox price would be inflated and other exchanges (bitstamp) would be depressed.

another ex i've seen is in Argentina on localbitcoins where the price of 1 bitcoin is ~$100 USD cash or 900 pesos, which the equivalent of $160 USD. so 1 bitcoin is valued much more in USD cash than pesos. local circumstances have a huge impact on this market, just like Gox.


Places like coinbase and bitpay will use functions like:

1) look at top 3 exchanges by trade volume, take average of the closest two prices

or

2) look at top 2-3 exchanges by trade volume, take average of top 2

Anyone who wants to sell coins for dwolla at any point im interested in buying, PM me.

Im going to use bitstamp first time soon. All I do is go to my bank and have them send cash to the bank info bitstamp gives me? It seems so simple...

So for a biggish risk you could deposit on Bitstamp, send to wallet, deposit that to mtgox, sell and cashout profit, no?

my buddy requested a gox wire 2 months ago. still waiting.

I think that risk is priced in.

Guess it's kind of like Gold/Silver as there is a spot price, but what you actually pay for the physical varies greatly.

Sell depth at mtgox collapsing, $120 gox $100 bitstamp.

good news for Bitcoin -> germany recognizes bitcoins as "private money"

(source: http://www.faz.net/aktuell/finanzen/...-12535059.html)

Bah, Barclays flat out refused to let me open an account with them for my Bitcoin business, ~12 hours before they promised to have it open. Refused to give me a reason as well. New business team told me there shouldn't be any problems, bank manager said no problems, then got an uncharacteristicly frosty call from him this morning saying Barclays are refusing it.

Interesting given Barclays are more liberal in other areas (based on mortgages).

Was it solely a banking account? Or loan based?

Just a basic bank account, and I'd be supplying it immediately with ~£10k investment in cash. No loan required, explained my business model to my manager and I left feeling he adequately understood it. (Zero borrowing/lending, money is one direction: customer > business, bitcoin is one direction: business > customer).

Phoned up business team later in the day to ask for an explanation, the person at the end of the phone was very surprised it was refused.

Big PITA set me back a few weeks now but not giving up!

Intersango had a Metro Bank account. I believe it was only shut down for having too many little outgoing transfers and a small balance.

I'd suggest looking around in Malta. I doubt you will find anything in your country.

How does that work from a business pov? Not sure how comfortable UK customers would be buying something already rather speculative (not hating, I hold a bitcoin investment) through a small business requesting payments to offshore accounts.

Msg. from Mt. Gox. WTF.

Altho:
I forgot my password, reset it last night.
Cashed out 3.25 BTC, trying to make an "international transfer" to my bank account.[in US]

It's what everyone is doing right now because no banks from major markets are willing to work with bitcoin exchanges. To work with a bank in the UK or US, if any were willing to deal with Bitcoin in the first place, you will likely need a comprehensive AML (anti money laundering) policy which would cost, at the very minimum, 50k.