The slow decline of Bitcoin’s biggest exchange, in one chart

Mt. Gox is the greatest Bitcoin exchange in the world providing a range of different transactions.

1 Total views
0 Total shares
The slow decline of Bitcoin’s biggest exchange, in one chart

There is a daily change of the turnover of millions of dollars on the site. Nevertheless, there have Generally, the prices for goods are the similar everywhere, however such rule does not work with Bitcoin. The ordinary price of Bitcoin providing by Mt. Gox is $145.

However, it is possible to sell Bitcoin only for about $130 on the other exchanges such as Bistamp. So, finally, it is evident that there is the growth of the spread between two indicators.

The chart below, given by Donald Marron, shows the ] identification of increasing discrepancy and the reason of this process. If the Bitcoins are sold on Bitstamp, it is possible to withdraw the cash at any time you want. On the other way, in Japan which has been dominated by American regulations, has less possibilities to buy dollar-based deposits out.

In June here has been a declaration of a two week “hiatus” by exchange, in July such exchange assumed the necessity of back-log of withdrawals which has been processed. Last month the exchange told about reduction of theissues with withdrawals and deposits given by Mt. Gox however they are not at the required rate.

There are a lot of people in Bitcoin forum who are discussing the problems of Bitcoin and plaining on long procrastination in processing withdrawal requests. To sum up, the difference of 10% between the two prices (Mt. Gox price and the price of other sources) has a great impact on the development of market skepticism and provokes dissatisfaction among traders who aim to return their money back as soon as it is possible.


Hottest Bitcoin News Daily

For updates and exclusive offers, enter your e-mail below.