You are viewing a single comment's thread from:
RE: BTC-E's Server Wallet just sent 485,000 ETH... It receieved 2 cents of ETH, withdrew 2 cents of ETH, then sent $99,000,000 of ETH(485K ETH). Are we losing our coins?
So they probably had a daily trade volume of a billion USD you are saying, and likely had tens of billions eh?
No, I'm saying there was a billion worth of cash and crypto sitting on the site in buy orders, sell orders, and idle wallets. I don't recall what their trade volumes were per day, but when the markets were volatile you'd see $100,000 buy and sell walls get knocked down in minutes. Seems reasonable to assume the coins flipped back and forth totaling $500 million a day. You actually take .4% of that since both buyer and seller pay fees. So they were gaining $2M a day minus the upkeep of the site and any security.