I wonder how many bitcoins are just being shuffled back and forth.
Ultimately, isn't all currency just shuffled back and forth?
But it is telling that $4xx,xxx in BTC only amounted to 12k in volume on mt gox.
Yes, but usually we don't count me moving $300 from an atm to my pocket to my wife to the store as $900 worth of money movement like it could appear on the chain. Otoh real activity can also sometimes not be seen like if I ship 200BTC via mtgox in return for a used couch.