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April 11, 2013, 09:26:34 AM |
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As mtgox is the biggest exchange out there (and I hope this will be changing with resent events) This sharp spikes are very bad for businesses trying to make it in the bitcoin market, for example bitpay accepted transactions before the drop in and has probably lost over 50% in conversion value in these 3 hours.
Perhaps mtgox should consider
1. stopping all trades if market value goes above or under a certain percent(5% 10%) this will stop crashes and prevent unwanted bubbles which are so harmful to the bitcoin economy, especially now in its vulnerable early stages.
2. have a limit for a person in trading frequency and volume this will prevent panic sell (or buy)
3. Its not uncommon for exchanges to stop trading when markets go wiled to any direction, and if mtgox had issues with there servers (as per last press release) they should have stopped trade for some hours.
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