Mt. Gox - BTC exchange with a reputation of "free" market economy

[antibanker]

if someone shuts down the 80% trading place on insider information...

you call that a "free" market" ?

[onesalt]

It's almost like exchanges tend towards a natural monopoly, the more people who use one specific one, the more attractive it becomes to new people.

What I'm saying is that bitcoin isn't the free market, it's basically nationalised.

[antibanker]

what is natural about that fraud?

[onesalt]

The more people use MtGox, the more trade volume increases (and hence liquidity) And hence new traders find it more attractive to use. Hence whichever exchange is largest will tend to remain that way. This makes it a natural monopoly.

Is this too difficult to understand?

[antibanker]

however.

that is not "natural"

[onesalt]

A "natural" economy is one that occurs because the system it is in (in this case, bitcoin exchange) tends towards having a single body which dominates it.

[antibanker]

the fuck I call that "natural"

[onesalt]

Okay you're clearly too stupid to understand terms that have existed for hundreds of years, bye.

[kokjo]

Mt.Gox decides to flick the switch as much as they like. use another exchange if you don't like it, or do person2person trades.