You don't see too many posts gloating about they sold at the top and rebought at the bottom.
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.
And what is BTCCHina's business model? How do they generate revenue?
I think they dont looking into profit right now. Its a smart move because they need to gain trust as well as testing their setup.
Mark did test his system while taking profits from us..... have you ever been goxxed? lol
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.
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.