exchange without bid order book to get stability of btc

[darsie]

Hi!

Bitcoin is very interesting for speculators, as it rises and fluctuates insanely and early adopters have huge amounts of btc and we are at their mercy not to crash the market.

However, to be useful as currency it should be more stable. I thought, maybe an exchange without bid order book might help there. Sellers would put their orders in the ask book and buyers would have to buy manually, maybe even be required to solve captchas or do some proof of work. Smaller buy orders could be prioritized by the exchange (by introducing some lag on bigger orders) so bitcoins get more distributed.

This might even be sustainable with conventional competitors.

What do you think?

Bernhard

[darsie]

Hmm, I guess a major flaw of this idea is you might have to constantly move your sell orders to the front to get your btc sold which is probably an unacceptable hassle. This might also drive the price down.

[tutkarz]

to stabilize price we would have to average it from various sources and probably display it directly in bitcoin client so people consider it as offcial.
I dont understand why even people know that mtgox is flooded with bots and speculants they still follow their price which is not natural at all.

[chiropteran]

to stabilize price we would have to average it from various sources and probably display it directly in bitcoin client so people consider it as offcial.
I dont understand why even people know that mtgox is flooded with bots and speculants they still follow their price which is not natural at all.

The mtgox price is what you can buy or sell for on mtgox. It's a real price, nothing unnatural about it. Now if you are buying and you have a chance to buy for LESS than the mtgox price, by all means buy it for less, but it's a great guideline to avoid getting ripped off.  And vice-versa, as a selling the mtgox price is a good baseline minimum for what you sell for, but it shouldn't stop you from selling for more if given the opportunity.

[mestar]

I thought, maybe an exchange without bid order book might help there. Sellers would put their orders in the ask book and buyers would have to buy manually...,

I want to buy it for 90, and the lowest ask is 100.  Now what do I do?