It's pathetic to see you all complain about MtGox. It's the best exchange we have and will stay exactly this due to network effect. They have all the traders because they have all the traders. And next week you whine about being scammed by one of the smaller exchanges that ran with your money. Do it better. Open an exchange and do it better. But please stop whining.

current MtGox lag: 36123s

Ok, I don't agree with you on that but there is another problem:
If I can effectively put 100000 orders into the order book with one bitcoin, I can put these orders anywhere into the book and they will affect the resources needed later when things get busy. The problem are not the small orders entering the order book in busy times as these are fast to execute but the big orders hitting all that dust, that is where the engine takes time to do all the book keeping.
Therefore, the small order rule would have to apply at any time, so a 100BTC order doesn't have to eat through 100,000 orders but "only" 10,000 at max.
Actually 80 minutes of engine lag cost MtGox customers and cost the Bitcoin value which essentially also costs MtGox profit. Sadly these flash crashes are when MtGox makes a killing that very day but still I'm sure they loose with this lag on the long run, so they should evaluate the real costs of each position in the order book and charge that to their customers as a minimum price per position. Or if they trust on people keeping to spam the order book even lower the fees for all others at the same time. A penny bot is not profitable because it buys valuable bitcoins at the right price but because it manipulates the price for other merchants that take "last price at MtGox" as a measure to price their goods and services, so these bots will not care about some small fee but those spamming uncharted parts of the order book with pennies, they do care and will adjust their behavior.

MtGox should refuse to take orders worth less than 1ct. * 2 ^  seconds_lag. This way people can't arbitrarily cheaply keep the lag up.

I call bullshit on the videos claim. It's not as easy as changing a number as traders get suspicious when their cheaper offers don't get filled and a high price attracts arbitrage. Exchanges can manipulate though by not acting real time as they can front run their users.

Yep it is worrying to see no progress withe those millions of dollars involved.

I disagree. Sure all coming at once would leave no time for the coin holders to provide liquidity but at the same time the monsterous mtgox verification queue is taken far too much as an indicator that we are safe to hold our coins as long as more money is waiting at the gate.
What will happen when the queue gets shorter?
What will happen when all are verified?
You are all waiting to cash out on either of these dates and then you all try to front run the others. Sure thing. I prefer an honest market without such artificial delay.

What will happen to stocks when dollars become worthless?? Will the NYSE switch to Bitcoin?

Some 200 pages ago (yesterday) people were discussing new animals as bears and bulls are dead. I find a baby dragon pretty much fits the bitcoin itself. If it grows up, it's unstoppable. Also currently Bitcoin is pretty Chinese

How about auto approval for your best artists? How should an artist release new music in a timely manner like that?

Another Bitcoin-related animal:

what is the state of this project? i ask because mohammad rafigh is waiting since 2 weeks now to get his latest creations confirmed and doesn't get replies on his support mails.

If you combine POW with POS which you have to to bootstrap I think, you are kind of free to pick whichever hashing there is and resources will go into both hardware and electricity to the extent of the coins mined worth independent of the specific algorithm. Scrypt is preferred by some funny coins because it can be used on a default computer competitively somehow maybe longer than others. Maybe.

According to Giszmo, same is true for gold at about $800,000.

Or in other words:
Market cap of BTC: 2,000,000,000
Market cap of Gold: 8,000,000,000,000

In your pic I can't see anything but when you compare this with this you can actually see how the volume increase in China is even more crazy than in US.


Ok, here are the pix. Weekly volume in currency for 6 months:

This was 600s before, so relax

People attacking Gox could also attack this way and hamsters to defend against such an attack are actually more expensive. Mechanical Turk maybe?

I mean I wish MtGox was more transparent and would publicly state:
We have a queue of x people that want to verify.
The spam detecting team that picks at random from all positions of the queue found y% obvious spammers and z% highly suspicious (further papers requested) accounts.
We are hiring verifiers.

These same day services seamed super expensive to me but now with the current rally everybody is just panic buying afraid to pay 20% more if he just has to wait one day. It is insane. It is a bubble. It will come done once it pops. I wish Gox wouldn't hold back all these traders so we would finally know where we stand so the bubble could pop.

same here.

LOL