the free market and mtgox.com

[empoweoqwj]

All I hear about mtgox is basically bad news.

I don't use the site personally because I trade in Europe but its curious to me that apparently 70% or more of all bitcoin trades are done through this site that nobody particularly seems to care for.

Why is this? Where is the free market at work throwing up viable alternatives?

[malevolent]

Other exchanges either get hacked or have legal problems. Operating an exchange and dealing with peoples' money is an expensive beaurocratic problem that kills the business. There is no free market when there is government intervention and regulation (AML laws, KYC laws, anti-terrorist fears and other crap).

[gweedo]

First to market... I use bitstamp

[empoweoqwj]

First to market... I use bitstamp

I use bitstamp as well, though that appears to have getting DDoS'd the last few days.

[Razick]

Try Bitfloor.

[cho]

I'm surprised by the gaps in price between different exchanges.
Does anyone know if there already are trading bots in the wild, playing some kind of "exchange carry trading" (find a low priced exchance, a high priced exchange, and sell at the second what you buy at the first) ?