Not sure if this is the right forum or not, but;

I own the domains www.ponzicoin.com (and .net .info .org) and had planned to develop a game based around the idea of a Ponzi-style game (either as a pure game or as a gambling site, but with a proper licenced setup), but just haven't had the time to get onto it (or the coding skills to do so myself).

Anyway, I've been contacted by DomainAgents, with an offer to purchase the URL. Before I went down the route with them I was wondering if it was anyone on here, since that way I could have a more sensible discussion directly. Or alternatively if someone wants to build a site, I'm happy to cut an equity-share for a partner.

Just a heads-up, hopefully I've not offended the rules or anyone, it's been a while since I last posted here.......

So here's a proposal to solve all the current issues with pricing.

All the chaos around MTGox is caused not because of the delays in the sending in cash/BTC, but because there is an underlying serious concern that they don't have all the cash/coins that they are supposed to own on behalf of customers.

This 'concern' is killing their business and hurting Bitcoin.

If they wished to resolve both, it would be a very simple task to appoint a proper auditor with real credibility and accountability (like a PwC etc) to produce a report stating that all the customer cash/coins existed (with no need to publish the actual numbers). If I was involved in running MTGox I'd be doing this right now, since credibility in finance is everything. This could be done in a matter of days/weeks and would save MTGoxs credibility and restore faith in the overall BTC market.

I suggest that MTGox get on with this for their own sake and for that of Bitcoin.

MTGox is a firm trading hundreds of millions of USD and making millions of USD of profits, it needs to be run like a professional finance/trading business and show the world with transparency.

Fear is a destroyer of finance/trading businesses (I've seen it first hand). Fear is dispelled with truth.

Of course if the truth is being kept secret for a reason............

......I mean value of sales of goods and services, excluding transfers to facilitate sales only of the coin itself. Is there one?

It would seem to me that if BTC is to succeed and be seen to succeed then it needs to clearly able to demonstrate growth of it's key purpose for existing ie a means of exchange, not simply saving or speculation.

Thoughts?

Based on my experience of 20+ years trading countless billions in the real world:

1. Sort your trading code out.

2. Invest in hardware or hosting, you're making thousands or tens of thousands per day. Buy or hire a room full of the best machines you can (I'm not a tech expert). You can never go down through 'excess trading demand' - this is amateur.

3. Create a minimum trading size, the tiny bot trades of $1 are swamping the system and add nothing.

4. Forget about circuit breakers or 'cooling off', this only works when assets are only traded on only one exchange (ie NYSE/Nasdaq) which is why you do not see gold or Forex stop trading. The market continues and your customers are left helpless.

5. Get someone to be a market-maker. You need a pool of money acting as market maker, to provide some depth of liquidity to stabilise the price when the market volumes become very illiquid or eratic. Confidence is everything in this market.

6. Prove you have some depth to your security. Right now people have millions invested in exchanges and any number of them could be complete shams designed to take coins that cannot be traced. I could setup a good looking exchange in days, collect coins and money and then disappear, it's been done before, it could be done again.

Thanks for the recent 24 hours though, I doubled my coins at no cost........