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Author Topic: A simple solution to the MtGox problem  (Read 558 times)
pyedpyper
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April 13, 2013, 09:53:18 PM
 #1

1. We agree that Gox is problematic.
2. We all trade on Gox anyway because everyone else trades on Gox - and you need volume to trade efficiently.
3. Most serious traders don't use the other markets because they are too quiet.
4. They are quiet because no-one uses them because they are too quiet.... [vicious loop here]

A solution:

If we all (or a lot of us) can agree to use a another exchange (Bitstamp, Bitfloor, or whoever we agree is best) and agree together collectively to move there at the same time, then the essential problem is solved.

It just would require some organisation and co-ordination (and of course warning the lucky exchange to upgrade their servers to accomodate).

I believe it would be a simple matter to use these forums to orchestrate.

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ElectricMucus
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April 13, 2013, 09:56:21 PM
 #2

Well I already left gox before that thing started what can I say?

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
superduh
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April 13, 2013, 09:58:17 PM
 #3

Their engine etc has to be even better than gox otherwise same problem happens. They need to limit api abuse. Limit fake orders etc.. Other exchanges need to be solid first and foremost.

ok
Aianis
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April 13, 2013, 10:00:08 PM
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This can be a good idea in terms "the customer commands the market". But imagine how many traders read this forum. The have to be other ways to communicate the community's decision if we are ever to reach a consensus.
pyedpyper
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April 13, 2013, 10:05:17 PM
 #5

This can be a good idea in terms "the customer commands the market". But imagine how many traders read this forum. The have to be other ways to communicate the community's decision if we are ever to reach a consensus.

Sure, the percentage of total traders on the forum is not huge.

BUT if there was consensus amongst the forum traders - and an actual move.

That might be enough to create a tipping point...
johnniewalker
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April 14, 2013, 12:54:02 AM
 #6

1. We agree that Gox is problematic.
2. We all trade on Gox anyway because everyone else trades on Gox - and you need volume to trade efficiently.
3. Most serious traders don't use the other markets because they are too quiet.
4. They are quiet because no-one uses them because they are too quiet.... [vicious loop here]

A solution:

If we all (or a lot of us) can agree to use a another exchange (Bitstamp, Bitfloor, or whoever we agree is best) and agree together collectively to move there at the same time, then the essential problem is solved.

It just would require some organisation and co-ordination (and of course warning the lucky exchange to upgrade their servers to accomodate).

I believe it would be a simple matter to use these forums to orchestrate.

Comments?



Good luck. Mobilizing a large number of people is no easy task. Especially for something petty like this. (I don't mean any offense)
Herodes
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April 14, 2013, 02:09:13 AM
 #7

1. We agree that Gox is problematic.
2. We all trade on Gox anyway because everyone else trades on Gox - and you need volume to trade efficiently.
3. Most serious traders don't use the other markets because they are too quiet.
4. They are quiet because no-one uses them because they are too quiet.... [vicious loop here]

A solution:

If we all (or a lot of us) can agree to use a another exchange (Bitstamp, Bitfloor, or whoever we agree is best) and agree together collectively to move there at the same time, then the essential problem is solved.

It just would require some organisation and co-ordination (and of course warning the lucky exchange to upgrade their servers to accomodate).

I believe it would be a simple matter to use these forums to orchestrate.

Comments?



Very hard to make a concerted effort like this. Gox seems the best choice at this point imo.
moni3z
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April 14, 2013, 07:17:56 AM
 #8

Trade all you want on #bitcoin-otc with no limits, no ID, no holds, no lag, no incompetent exchange operators. There's a few big traders on there with high rep and plenty of successful trades.

http://bitcoin-otc.com/viewratingdetail.php?nick=EPiSKiNG- will sell/buy up to 4000BTC with cash or deposit
http://bitcoin-otc.com/viewratingdetail.php?nick=sturles will sell/buy huge amounts of coin for SEPA transfer
http://bitcoin-otc.com/viewratingdetail.php?nick=Mqrius bulk sell/buy in Netherlands for cash or sepa
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