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Title: Gox innovation Post by: xxjs on August 23, 2013, 10:41:37 PM I have a list of wishes for Gox like anybody here, but lets get real - here is what they brought to the table:
1) Big and small orders treated the same - lots of orders are around a dollar forchrissakes. 2) Around the clock trading. On equity bourses, they have this random share price and random share numbers. An idea for those guys: Redefine a whole share to be the complete company, trade arbitrarily low fractions of that. And why stop at 4pm (ah - do they mean 16:00 eastern something with DST in some random country?). I know, the NY brokers need to eat, but what has that got to do with some palm wine drinker in Malaysia? I say to NYSE and NASDAQ: Learn from MtGox. Title: Re: Gox innovation Post by: grue on August 23, 2013, 10:51:46 PM 1) Big and small orders treated the same - lots of orders are around a dollar forchrissakes. that is how it works in the real world as well. ask/bid price has precedence over everything else. except there are 9001 bots spamming the order book with 0.00001 size orders.2) Around the clock trading. https://en.wikipedia.org/wiki/After_market_tradingTitle: Re: Gox innovation Post by: superduh on August 24, 2013, 12:02:04 AM they should have made it *cost prohibitive* to spamming the order book
Title: Re: Gox innovation Post by: xxjs on August 24, 2013, 12:12:48 AM 1) Big and small orders treated the same - lots of orders are around a dollar forchrissakes. that is how it works in the real world as well. ask/bid price has precedence over everything else. except there are 9001 bots spamming the order book with 0.00001 size orders.2) Around the clock trading. https://en.wikipedia.org/wiki/After_market_tradingReal world? You have to buy at least one share, some exchanges have lot sizes greater than one. After hours trading, pre market trading, still not around the clock, and what about sundays? Title: Re: Gox innovation Post by: xxjs on August 24, 2013, 12:14:29 AM they should have made it *cost prohibitive* to spamming the order book If they can handle the load, it is ok. Title: Re: Gox innovation Post by: superduh on August 24, 2013, 01:01:57 AM they should have made it *cost prohibitive* to spamming the order book If they can handle the load, it is ok. well, given that it didn't handle to load at points in time and was just there for mostly nefarious reasons they definelty SHOULD have charged much more to make it not worth it . even real brokerage houses charge much more for "penny stocks" or high risk securities - just do the same to those who try to break the engine Title: Re: Gox innovation Post by: zby on August 24, 2013, 06:42:10 AM I have a list of wishes for Gox like anybody here, but lets get real - here is what they brought to the table: 1) Big and small orders treated the same - lots of orders are around a dollar forchrissakes. 2) Around the clock trading. On equity bourses, they have this random share price and random share numbers. An idea for those guys: Redefine a whole share to be the complete company, trade arbitrarily low fractions of that. And why stop at 4pm (ah - do they mean 16:00 eastern something with DST in some random country?). I know, the NY brokers need to eat, but what has that got to do with some palm wine drinker in Malaysia? I say to NYSE and NASDAQ: Learn from MtGox. You forgot about the most revolutionary invention of MtGox - not letting peopel withdraw their money! Title: Re: Gox innovation Post by: dave111223 on August 24, 2013, 01:07:30 PM I have a list of wishes for Gox like anybody here, but lets get real - here is what they brought to the table: 1) Big and small orders treated the same - lots of orders are around a dollar forchrissakes. So they let bots spam their order book with 0.01 BTC orders until it crashes entire trading engine; sweet I can't wait for the next "innovation" Title: Re: Gox innovation Post by: xxjs on August 24, 2013, 07:59:54 PM I have a list of wishes for Gox like anybody here, but lets get real - here is what they brought to the table: 1) Big and small orders treated the same - lots of orders are around a dollar forchrissakes. So they let bots spam their order book with 0.01 BTC orders until it crashes entire trading engine; sweet I can't wait for the next "innovation" The MtGox innovative concept of lag -- I don't consider that as a plus. They seem to have a function that allows traders to enter uncovered offers, for example if you have one bitcoin you can enter an offer to sell that bitcoin, and at the same time offer to buy a bitcoin at another price. So for each trade, they have to walk the complete order book to activate the offers that are now covered. Nice, but not essential. I hope they just stop doing this, and focus on speed. |