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Title: the same way you are worried about one party gaining more than 50% hashing Post by: nazgulnarsil on June 04, 2011, 10:16:16 PM you should also be worried about one BTC-USD exchange being 90% of the bitcoin exchange.
If MtGox goes down, even temporarily, it could have severe repercussions for people's faith in the ability to transfer between BTC-USD. Title: Re: the same way you are worried about one party gaining more than 50% hashing Post by: TraderTimm on June 04, 2011, 10:20:04 PM you should also be worried about one BTC-USD exchange being 90% of the bitcoin exchange. If MtGox goes down, even temporarily, it could have severe repercussions for people's faith in the ability to transfer between BTC-USD. It also would be an enticement for another exchange to be created, given the profits that can be had being the facilitator of exchange. I think someone would put up on pretty fast, just to get a cut from the pie. Even if an exchange didn't exist, bitcoin still has value between participants. The real effort should go into getting merchants to accept bitcoin directly, honestly. I don't mind an exchange being there. Just thinking down the road where such exchanges may not need to exist. Title: Re: the same way you are worried about one party gaining more than 50% hashing Post by: Dansker on June 04, 2011, 10:26:00 PM ∧＿∧ ∧＿∧ ∧＿∧ ∧＿∧ ∧＿∧
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