cbeast (OP)
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Let's talk governance, lipstick, and pigs.
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March 29, 2013, 05:57:40 PM Last edit: March 30, 2013, 01:06:52 PM by cbeast |
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Bitcoin is designed to take about ten minutes to be verified and more so to be well verified. I don't understand why exchanges are using the stock exchange model of instant trades when it is unnecessary. Why are we in such a hurry to buy 0.01 BTC? HFT is one factor destroying the stock market, so why are we accepting it in Bitcoin exchanges? I know that it is a "free market" but let's use some reason here. If HFT combined with DDOS attacks is going to plague Bitcoin exchanges, then why not do something about it? If we slow down the ability to "price discover" the exchanges, then HFT will not have the opportunities to exploit DDOS attacks and Bitcoin will roll along smoothly every ten minutes. IMHO Bitcoin price is psychological and not so much a matter of "free market" forces. In psychology we use statistics to create useful behavioral analytical tools. I don't see why we can't do this with Bitcoin.
edit: changing the title.
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