A simple solution to the MtGox problem

[pyedpyper]

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?

[1715129953]

1715129953

[1715129953]

1715129953

[1715129953]

1715129953

[ElectricMucus]

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

[superduh]

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.

[Aianis]

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]

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]

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]

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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