Stunna (OP)
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Activity: 3192
Merit: 1278
Primedice.com, Stake.com
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April 10, 2013, 06:51:37 PM |
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4500 sec lag and growing, should be measured in hours soon.
This is unacceptable, for btc to grow a functional exchange needs to be created asap.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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qxzn
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April 10, 2013, 06:58:48 PM |
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Were you under the impression that MtGox is the only bitcoin exchange?
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Stunna (OP)
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Activity: 3192
Merit: 1278
Primedice.com, Stake.com
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April 10, 2013, 07:04:15 PM |
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Were you under the impression that MtGox is the only bitcoin exchange?
Of course not, however It is unfortunate that the most popular/trusted exchange is so vulnerable. |
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Grover
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Activity: 137
Merit: 100
I was thinking Stay Puft, but Gozer said Grover
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April 10, 2013, 07:05:03 PM |
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Were you under the impression that MtGox is the only bitcoin exchange?
Likely he's aware there are other exchanges, but almost everyone knows Gox is the big dog that truly sets the btc price among all other exchanges. Gox is a joke. They need to upgrade that 486SX33 server with 20meg EDODram, 325meg HD, with the 14.4kmodem bank and some cluched together Dbase. Invest in ltc as a hedge against Gox and the whims of the hackers who routinely attack Gox to destabilize btc and buy back btc at a lower price. |
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rayvellest
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April 11, 2013, 12:23:37 AM |
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The lag over MtGox is nearing the point of becoming the first exchange that puts people off trading on it, something needs to be done about that asap.
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PuertoLibre
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Activity: 1848
Merit: 1003
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April 11, 2013, 12:43:51 AM |
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Were you under the impression that MtGox is the only bitcoin exchange?
Likely he's aware there are other exchanges, but almost everyone knows Gox is the big dog that truly sets the btc price among all other exchanges. Gox is a joke. They need to upgrade that 486SX33 server with 20meg EDODram, 325meg HD, with the 14.4kmodem bank and some cluched together Dbase. Invest in ltc as a hedge against Gox and the whims of the hackers who routinely attack Gox to destabilize btc and buy back btc at a lower price. And here I thought they were running a 300 Buad modem...on a 286...maybe a pair of 8086's. P.S. Already hedging LTC. |
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justusranvier
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Activity: 1400
Merit: 1009
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April 11, 2013, 12:46:55 AM |
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P.S. Already hedging LTC.
What is different about LTC that would make it more resistant to these kinds of problems if it saw the same kind of use as BTC? |
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repentance
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April 11, 2013, 12:50:35 AM |
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4500 sec lag and growing, should be measured in hours soon.
This is unacceptable, for btc to grow a functional exchange needs to be created asap.
This is only a problem when there's a lot of speculation on BTC price - ie, when the focus is on BTC as a speculative investment. If your aim is the adoption of Bitcoin as a currency/payment protocol, then its growth is not dependent on exchanges being able to cope with large volumes/extended periods of HFT. There are already a couple of dedicated trading platforms due to open soon and this might see a lot of speculators move away from MtGox if those platforms are better able to accommodate trading. I honestly think that the emergence of exchanges which meet different types of needs is a good thing, and that it's preferable for different platforms to exist than for MtGox to have continued market dominance by being all things to all people. |
All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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PuertoLibre
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Activity: 1848
Merit: 1003
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April 11, 2013, 12:55:11 AM |
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P.S. Already hedging LTC.
What is different about LTC that would make it more resistant to these kinds of problems if it saw the same kind of use as BTC? There is nothing different about it other than there are seemingly fewer traders. "Less lag" and most importantly....MtGox isn't trading it yet. |
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Grover
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Activity: 137
Merit: 100
I was thinking Stay Puft, but Gozer said Grover
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April 11, 2013, 01:49:46 AM |
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Were you under the impression that MtGox is the only bitcoin exchange?
Likely he's aware there are other exchanges, but almost everyone knows Gox is the big dog that truly sets the btc price among all other exchanges. Gox is a joke. They need to upgrade that 486SX33 server with 20meg EDODram, 325meg HD, with the 14.4kmodem bank and some cluched together Dbase. Invest in ltc as a hedge against Gox and the whims of the hackers who routinely attack Gox to destabilize btc and buy back btc at a lower price.
P.S. Already hedging LTC. I think you're correct in your system choice. And they hash scrypt while running Gox. I think they get 1 x 10^-12 h/month. The plus side is the cpu makes a good coffee cup warmer. Damn the 300 baud modem. Noting says made it like dialing the phone yourself and placing the handset on the modem for communication. |
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Grover
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Activity: 137
Merit: 100
I was thinking Stay Puft, but Gozer said Grover
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April 11, 2013, 01:55:14 AM |
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P.S. Already hedging LTC.
What is different about LTC that would make it more resistant to these kinds of problems if it saw the same kind of use as BTC? LTC is technically superior to BTc, but the weakness is in the one exchange. This makes a central point of weakness. BTC doesn't normally fluctuate as wildly as it did today, and ltc usually isn't getting dumped on BTCe like it has been for the past couple of days. I think when investing in cryptos holding a little money in UDS or fiat is the way to go since both BTC and LTC get more valuable compared to fiat. |
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