Well, does anybody give a shit about this? Maybe more of us (including myself) ought to understand this mumbo jumbo.
I do understand that totally unregulated environments inevitibly progress into a monopoly or cartel.
I also understand that if you are a money printer, it's not that huge of a thing to reel off a continuous wad of FRNs and manipulate markets and buy all the BTC. You barely even have to manipulate any markets to get all the BTC if you got your hand on the money spigot. The entire monetization of bitcoin is about 1/84th of what the FED adds to their balance sheet every month with fresh QE. Think about that.
agentbluescreen how do we enforce your fixes on the exchanges without force of law?
Well that's just it, we don't and there is no law nor regulation that affects an Over the Counter fCS (funded Credit Swap) instrument. Nobody needs a law to do the smartest or right thing, though!
One thing that is abundantly clear is that we should all make it our business to see to it that the exchange-value of our own BTC (that we each own and should benefit from the wider use of) always grows, not because of any shortage or surplus of it but because of a well thought out "price discovery" mechanism that arrests, slows and/or defies inflationary devaluation of it in all ways possible.
The "Holy Grail" here is a publicly owned Medium of Work-Resource Exchange, that shares it's ever-growing profits by increasing(growing) in value even as it must also increase(grow) in supply.
Honestly I think that BTC-E bots will solve the problem forcing the bits and mortar bear-pit "stock" exchanges to work to a much higher standard over time or to simply loose plain, business-like currency exchanging traffic altogether. Looking at multiple "penny stock" pits trading BTC against the same currencies, it becomes apparent that they are all grossly erratic, have odd pricing personalities and that volumes (in either demand or supply) have practically nothing to do with price deviations on and between them so much as little nuisance bidding and asking temptations do. It also seems that smaller exchanges with lower fees have higher overall prices but are not quite as volatile as those that have higher fees. That said it's also quite clear that anybody who can attack and control Mt Gox can do whatever he wants with the pricing.
The real problem with BTC is too many Bid/Ask price points, due to it's deeply divisible value structure.
