need for more btc exchanges...

[steeev]

Am i right in thinking that the volatility in btc is because of the near monopoly that MtGox exchange has over the bitcoin market ?

When there is an attack, or some kind of disruption at the Tokyo exhange, the price varies, sometimes wildly, as we have seen in the last month particularly...

It seems to me that a network based, decentralised currency also needs a diverse network of exchanges to manage it, so that any disruption at one, or even several exchanges, cannot distort the broader trade/market of btc significantly, thereby allowing it to stabilise, and develop to the next level of penetration and price...

Any thoughts on this...?

[Malawi]

Am i right in thinking that the volatility in btc is because of the near monopoly that MtGox exchange has over the bitcoin market ?

When there is an attack, or some kind of disruption at the Tokyo exhange, the price varies, sometimes wildly, as we have seen in the last month particularly...

It seems to me that a network based, decentralised currency also needs a diverse network of exchanges to manage it, so that any disruption at one, or even several exchanges, cannot distort the broader trade/market of btc significantly, thereby allowing it to stabilise, and develop to the next level of penetration and price...

Any thoughts on this...?

You are not the first to utter those thoughts. Check out buttercoin. That might be at least one of the answers.

[Wraith]

p2p decentralized exchange is best.. i am waiting for it

[easycoins]

I agree, more exchanges would do good

[steeev]

p2p decentralized exchange is best.. i am waiting for it

sounds intruiging, how far/close is it to fruition...?

[umbrellawarrior]

Mtgox is a bottleneck for sure, but I don't think the volatility will be going away even if a bunch of good alternatives show up. It won't get much better until more businesses start to accept bitcoin.

[furby]

Am i right in thinking that the volatility in btc is because of the near monopoly that MtGox exchange has over the bitcoin market ?

I think it's because its so damn hard to buy BTC - when it drops low, like 90, I would buy a ton, but there is no easy way, once it gets easy to buy many people will buy instead of letting it get low

[overdone]

p2p decentralized exchange is best.. i am waiting for it

i don't see how it's possible. somewhere you need to send $ to someone, p2p can't handel that concept

[finalmoney]

yes definitely need at least 3 mega exchanges, its not good when people rely on gox, but their website makes it really simple for newcomers and newbies to buy btc, other exchanges can be very intimidating to people without financial experience, too many charts with lots of little numbers are not easy to grasp for regular truck driver or somebody who never looked at stocks before.

[Namealreadyexists]

I see a need for country specific exchanges operating in national currency, just to  meet the demand for cross border money flows. When remittances flow one way, and corrupt elite's money the other, there is a chance for the bitcoin to shine. It's a win-win situation, allowing the poor ones to save on wire transfer fees, and the rich ones to avoid the spotlight on the other side of the border.