Get used to it. To sustain the current price we will need to see much more $$ on the bid side.

Trading fees really eat into your profits when taking advantage of small swings, so you gotta wait for the bigger swings. I sold at 1035 and rebought at 930. Btcchina's no-fee trading sure looks attractive.

The mBTC idea for exchanges does have some sense if we want more widespread adoption.

If they are 'coins' but one costs a thousand bucks - people can hardly imagine buying a coffee with one.

I had a friend around a while back and watched the charts a bit then he wanted in but said $500 (hah!) seemed a lot of cash, then he called me a week later and asked if he should buy a few Litecoins as Bitcoin were so expensive.  I suggested he shouldn't (I was probably wrong, looking back), but the point remains; at a thousand bucks it sounds like something for gold investors not for 'people like me'.

So - slap me down - but promoting mBTC Satoshis whatever...  seems to have a bit of sense behind it, who is going to say what a coffee costs in terms of 0.00000xx BTC?

Anyone got serious thoughts?

dunno, frontrunning?

ding ding ding

Yes exactly, they gain trust and help grow a massive market for themselves when they eventually introduce trading fees.

If we use mBTC in general conversation it will become the norm and exchanges will then be more inclined to adopt it also.

I'd be quite uncomfortable with an exchange charging 0 fees if there isn't a clear plan/alternative revenue stream. I think everybody should work for profit, and a company managing millions of $$$ per day doing it for free seems fishy to me. Especially considering that there is not much choice for Chinese, its not like the market is super mature and bloated with reliable options and you need to work for free to gain user base.

You may be right, but I prefer to trust my hard earned money to companies with a clear business model, and that have a big incentive in NOT scamming customers.

it ´s not only that. a lot of people heard about btc more often, didn´t move in, but considered it. now, a few days ago they finally decided to do it. but how?

ok, open an account with gox/stamp whatever. now send funds via intl. wire towards tokio or slovenia. that shit takes f o r e v e r.  uups, got your account verified yet ? hell, it takes forever again. price is rising all the time. finally they can trade (today?), so they do it. first thing that happens is that price goes down. first moment of panic, first taste of the bitter sheit that trying to beat the chart could mean. so what they do is selling 100 cheaper than they bought.

AFAIK withdrawals are not free on BTCChina. Either way, there are plenty of reasons for 0% fees, at least for now. BTC hasn't had much attention yet in China and if BTCChina can establish itself as the standard exchange that everyone uses and effectively get a monopoly, then they're free to raise their fees in the future when they've crushed the competition. Trying to corner the market by offering services or products below cost-price is a normal business strategy.