So what happens when someone buys or sells now at Mtgox?

[ShroomsKit]

There is 45 min engine lag.
How does this work exactly? What if someone sells some coins now? What will the final price be and when will it be processed?
Is the current price we're seeing actually what the coin was 45 mins ago?
And basically it could be 50 now or 150 and we wouldn't know?

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[DeathAndTaxes]

If you place a market order then yes it will execute at the best available bid in 45+ minutes which could be 50 or 150.

So you have a couple options:
a) FOR THE LOVE OF SATOSHI .... STOP USING MTGOX.
b) Don't place orders when the lag is more than a few seconds.
c) Use limit orders to ensure your order executes only at the price you want or better.

[ShroomsKit]

If you place a market order then yes it will execute at the best available bid in 45+ minutes which could be 50 or 150.

So you have a couple options:
a) FOR THE LOVE OF SATOSHI .... STOP USING MTGOX.
b) Don't place orders when the lag is more than a few seconds.
c) Use limit orders to ensure your order executes only at the price you want or better.

Damn, that's bad.
I hate to see everyone is still using it.
Mtgox can kill Bitcoin. It's ridiculous.

[Monarch]

If you place a market order then yes it will execute at the best available bid in 45+ minutes which could be 50 or 150.

So you have a couple options:
a) FOR THE LOVE OF SATOSHI .... STOP USING MTGOX.
b) Don't place orders when the lag is more than a few seconds.
c) Use limit orders to ensure your order executes only at the price you want or better.

+1 , we need decentralized trading platform, if we want to go really mainstream, now the exchanges are the biggest flaw of whole project.

[Launebaer]

so what are the alternatives?