GreekGeek
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Jesus was a (Goddamn) hippy socialist


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January 11, 2014, 12:44:45 AM

Does anyone notice a trend where people (mostly btce trollbox) get really excited whenever gox moves, as if gox confirms everything and is still market leader? Meanwhile the volume at gox is 3 times less than that of other exchanges, and nobody mentions the trading at other exchanges including their own exchange with three times the magnitude as that of gox. It doesn't make any sense. When will we decouple from gox?


I'll give you two explanations

right now Gox is an (almost)one way gate to bitcoin (fiat goes in easy, comes out hard)
  
1. new-comers trust gox(?) because it is located in Japan
   buying pressure in Gox indicates new-comers   (fresh money)

or

2. desperate poeple buying back coins to move them to real exchanges, so they can cash out