For those of you who do a bit of daytrading, do you sell and buy in the exchanges, like bitstamp or not? Isn't it risky, when something like MtGox could happen? I want to hear some thoughts on this!
Yes it's risky on the high volume exchanges, and there is always the risk they could get hacked and you lose the lot. Coinbase is insured, but lower volume than the bigger exchanges, and they have more restrictions on what you are allowed to do with your coins. Gemini is also insured but has extremely low volume, though it might go up.
Thank you for the answer. What about btc-e and bitstamp? In what volume will things get risky? Like 100 bitcoins, 1000 or even a few, like 10?
Nobody knows who runs btc-e and I think it might have been hacked a long time ago, but they paid everyone what they were owed and it's still running now. However it's a very low volume exchange. A hundred Bitcoins could make a big swing in price there.
Bitstamp has also been hacked, but paid everyone back, and we know who owns it. It was the highest volume exchange until the hack, then it lost it's place to Bitfinex, but now they probably share the top place for USD volume exchanges, It takes thousands of Bitcoins to swing the price on either of those exchanges.