Sunday, June 12, 2011

Trading with Bitcoins Part II

Yesterday, I shared some of my experiences in Bitcoin trading. Since then, a few more important details have come to my attention. I mentioned that MtGox was the primary way of trading BTC for USD. So much so that the public activity on MtGox generally controls the trade value of BTC outside of MtGox. By talking to some people in the IRC channel I found out that MtGox is either frequently targeted by Denial of Service attacks or other mischievous which brings trading to a standstill.

Fortunately, there is a rising star in the Bitcoin trade industry, TradeHill. The volume of trades is low compared to MtGox but growing and the price is usually close to MtGox. I have yet to try out TradeHill myself (transferring from MtGox is down). Most people who have tried it like the interface and the lower trading fees on TradeHill. Speaking of which: using the referral code TH-R12942 will get you an additional life-time 10% discount on trading fees.


  1. I have a farm set up for making bitcoins. I love doing IT work.

  2. It's crazy how many other currency's are coming up everywhere. People are really starting to worry about an economic collapse.