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Title: Bitcoin Exchanges Post by: slarowe86 on April 13, 2013, 03:24:41 PM Anyone else agree that all these bitcoin exchanges should have the same price for ask/sell?
You have campbx which is usually $10-15 lower than Mt Gox Mt Gox is attracting way too many DDoS attacks, so if all the exchanges kept the same price, we wouldn't see what happened earlier this week cause you could just go to a different exchange. Thoughts? Title: Re: Bitcoin Exchanges Post by: BluMeanie on April 13, 2013, 03:46:49 PM Gox controling so much of the traffic/trades is bad.
Definately room for a couple sites to challenge the market share if done right. Title: Re: Bitcoin Exchanges Post by: slarowe86 on April 13, 2013, 05:13:26 PM Multiple exchanges offers the opportunity for arbitrage. Also creates a scenario that happened earlier this week causing everyone to panic sell. If you look at the EUR/USD on etrade, scottrade, TD Ameritrade, it's all the same price. That's how it should be with BTC imo Title: Re: Bitcoin Exchanges Post by: naphto on April 13, 2013, 05:16:00 PM Multiple exchanges offers the opportunity for arbitrage. Also creates a scenario that happened earlier this week causing everyone to panic sell. If you look at the EUR/USD on etrade, scottrade, TD Ameritrade, it's all the same price. That's how it should be with BTC imo BTC is not centralized. Title: Re: Bitcoin Exchanges Post by: slarowe86 on April 13, 2013, 05:20:24 PM I know, it's supposed to be de-centralized from government hands, but who's to say Mt Gox doesn't have another huge hiccup next week wiping BTC off the face of the earth? (highly unlikely, but you get my point).
People will go to sell at the highest price possible which is what Mt Gox has been doing, so you have camp bx do the same thing, btc-e, etc, the amount of people needed to ddos 4-5 sites compared to 1 main exchange, less chance of panic selling, and a faster growing currency. Title: Re: Bitcoin Exchanges Post by: naphto on April 13, 2013, 05:28:12 PM I know, it's supposed to be de-centralized from government hands, but who's to say Mt Gox doesn't have another huge hiccup next week wiping BTC off the face of the earth? (highly unlikely, but you get my point). People will go to sell at the highest price possible which is what Mt Gox has been doing, so you have camp bx do the same thing, btc-e, etc, the amount of people needed to ddos 4-5 sites compared to 1 main exchange, less chance of panic selling, and a faster growing currency. I think that people are DDoSing in order to make profit and increase the price of btc. That's not because you can't access mtgox for 1 day that btc will loose is value. But you can't cancel yours orders. And when the price increased by 50 usd during the DDoS, you got it sold 50 usd less than the market price when the servers are up again. And the markets for bitcoins is not centralized. It will not be possible to constraint every exchanges to share the same database / prices for bitcoins. That's not gonna happen, even if 2 or 3 accept it, the other ones won't. |