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Title: Mt. Gox - BTC exchange with a reputation of "free" market economy Post by: antibanker on April 11, 2013, 07:11:13 PM if someone shuts down the 80% trading place on insider information...
you call that a "free" market" ? Title: Re: Mt. Gox - BTC exchange with a reputation for free market economy Post by: onesalt on April 11, 2013, 07:12:32 PM It's almost like exchanges tend towards a natural monopoly, the more people who use one specific one, the more attractive it becomes to new people.
What I'm saying is that bitcoin isn't the free market, it's basically nationalised. Title: Re: Mt. Gox - BTC exchange with a reputation for free market economy Post by: antibanker on April 11, 2013, 07:13:56 PM what is natural about that fraud?
Title: Re: Mt. Gox - BTC exchange with a reputation for free market economy Post by: onesalt on April 11, 2013, 07:17:37 PM The more people use MtGox, the more trade volume increases (and hence liquidity) And hence new traders find it more attractive to use. Hence whichever exchange is largest will tend to remain that way. This makes it a natural monopoly.
Is this too difficult to understand? Title: Re: Mt. Gox - BTC exchange with a reputation of "free" market economy Post by: antibanker on April 11, 2013, 07:18:52 PM however.
that is not "natural" Title: Re: Mt. Gox - BTC exchange with a reputation of "free" market economy Post by: onesalt on April 11, 2013, 07:20:58 PM A "natural" economy is one that occurs because the system it is in (in this case, bitcoin exchange) tends towards having a single body which dominates it.
Title: Re: Mt. Gox - BTC exchange with a reputation of "free" market economy Post by: antibanker on April 11, 2013, 07:23:32 PM the fuck I call that "natural"
Title: Re: Mt. Gox - BTC exchange with a reputation of "free" market economy Post by: onesalt on April 11, 2013, 07:26:15 PM Okay you're clearly too stupid to understand terms that have existed for hundreds of years, bye.
Title: Re: Mt. Gox - BTC exchange with a reputation of "free" market economy Post by: kokjo on April 11, 2013, 07:31:23 PM Mt.Gox decides to flick the switch as much as they like. use another exchange if you don't like it, or do person2person trades.
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