Quote from: Zephir on June 01, 2013, 11:16:39 AM

Quote from: Rampion on June 01, 2013, 11:09:47 AM

Quote from: Zephir on June 01, 2013, 10:58:27 AM

Quote from: Rampion on June 01, 2013, 10:10:27 AM

Quote from: Bitcycle on June 01, 2013, 04:18:41 AM

Quote from: Frozenlock on June 01, 2013, 02:46:11 AM

Wallzilla killed the volume.

I'm really curious as to why there's a wall in many currencies.

Gox has only one market for all currencies. The bids/asks in any given currency are converted to show in all other currencies, with a exchange fee built in. The fee does not go to Gox, since they ironically are not licensed to exchange between various fiat currencies. Instead the fee goes to their bank, which does the actual fiat exchange.

The upshot is that if you place a bid in USD it shows up in Pounds, Euros, Baht, whatever else as well.

Source: MagicalTux in irc a few weeks ago.

That's how it works. It's in their FAQ, BTW

That´s not right.
Every currency has its own market on Gox.
Look at the Canadian Dollar chart or at the polish Zloty at Gox and compare it with the USD,GBP or EUR chart.
Every market has another volume.

Think before you type.

First, Bitcycle told you he is quoting Karpeles from IRC, so you should give him some credit.

Secondly, I'm telling you to check it in Gox's FAQ

Thirdly, and most important, look at the different currencies at Gox. You will see that if there was independent ask/bids for every currency, there would be no liquidity in any market except the USD. Then, check the walls. Isn't it strange for you that you have walls of the same proportion in every currency?

And finally, check MtGox's FAQ:

Quote

Q. Do you keep independent ask/bid tables for different currencies?

A. No, ask/bid tables for different currencies are not independent. All currencies are relative to whichever currency has the highest volume, which is based on said currencies current market price in bitcoin. Every trade is in one pool and in fact, not are not separate currency markets. This allows users the added benefit of trading in "the greater market" -in currencies they understand- while not limiting them to smaller currency markets.

For example, if a buy order for bitcoins is placed in EUR, the order can be executed against another user selling bitcoins in any currency and not necessarily only against another user selling bitcoins in EUR.

EDIT: well, niothor was quicker than me Wink

Well both of you are right.
I have just compared the markets on bitcoinity.
I´ve read it on the FAQ too.
Thanks.

It looks like the bids/asks are replicated on the other order books, but the transaction data is separate. i.e. There is effectively one order book for trading, but the volumes/transaction history are kept separate. For example, USD/CAD are almost 1:1 in the real world, but it's clear on the volume history that they aren't matching.