antibanker (OP)
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April 11, 2013, 07:11:13 PM |
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if someone shuts down the 80% trading place on insider information...
you call that a "free" market" ?
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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onesalt
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April 11, 2013, 07:12:32 PM |
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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.
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antibanker (OP)
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April 11, 2013, 07:13:56 PM |
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what is natural about that fraud?
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onesalt
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April 11, 2013, 07:17:37 PM |
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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?
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antibanker (OP)
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April 11, 2013, 07:18:52 PM |
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however.
that is not "natural"
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onesalt
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April 11, 2013, 07:20:58 PM |
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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.
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antibanker (OP)
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April 11, 2013, 07:23:32 PM |
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the fuck I call that "natural"
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onesalt
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April 11, 2013, 07:26:15 PM |
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Okay you're clearly too stupid to understand terms that have existed for hundreds of years, bye.
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kokjo
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You are WRONG!
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April 11, 2013, 07:31:23 PM
Last edit: April 11, 2013, 09:17:06 PM by Maged |
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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.
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"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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