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Author Topic: Should trading be closed on weekends?!  (Read 2819 times)
The_JMiner
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July 08, 2011, 10:56:43 PM
 #1

Considering the obvious that you can not transfer cash funds to your account on weekends (due to banks being closed) why not close the markets on weekends.

Just wondering what people think.

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SgtSpike
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July 08, 2011, 11:02:14 PM
 #2

Why impose limitations for the sake of imposing limitations?  If some people want to trade on the weekend, they should be able to trade on the weekend.  No one is forcing you to trade on the weekend.
The_JMiner
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July 08, 2011, 11:03:53 PM
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Why impose limitations for the sake of imposing limitations?  If some people want to trade on the weekend, they should be able to trade on the weekend.  No one is forcing you to trade on the weekend.

Well the idea is so that the market is not so volatile due to outside forces. Also people wont FREAK OUT cause they ordered to withdraw their money on Sat and its Monday morning and "WTF ITS NOT HERE!"  In my opinion less volatility I think is better for the market.

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July 08, 2011, 11:13:11 PM
 #4

 No. I would like to make money
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July 08, 2011, 11:50:47 PM
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Why impose limitations for the sake of imposing limitations?  If some people want to trade on the weekend, they should be able to trade on the weekend.  No one is forcing you to trade on the weekend.

Well the idea is so that the market is not so volatile due to outside forces. Also people wont FREAK OUT cause they ordered to withdraw their money on Sat and its Monday morning and "WTF ITS NOT HERE!"  In my opinion less volatility I think is better for the market.
That's the beauty of the free market - it corrects things like this automatically, without regulation.  Have you noticed that there is less and less of a dip on the weekends, since more and more people have recognized the dip and decided to take advantage of it?  Their taking advantage of it means that they are selling during the week when the prices are theoretically higher, then buying on the weekend, when the prices are theoretically lower.  This causes the price during the week to drop, and the price during the weekend to raise, evening out the discrepancy.

Not only that, but there would be no way to force ALL exchanges to cease activity on the weekend.  The moment one exchange closes for the weekend, people will simply move to the next exchange that doesn't close on the weekend.
MKW2012
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July 09, 2011, 04:02:04 AM
 #6

No. I would like to make money

This about sums it up.

If people don't want the risk of owning them over the weekend close your position before the weekend. But for those who don't mind it let the traders trade.
Alex Beckenham
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July 09, 2011, 04:13:50 AM
 #7

Considering the obvious that you can not transfer cash funds to your account on weekends (due to banks being closed) why not close the markets on weekends.

Why not open banks on the weekend instead?

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July 09, 2011, 06:17:29 AM
 #8

People can still deposit via LR, Dwolla balance, TC, and various other methods (or just keep some balance on the exchanges). Even with closed banks there are ways to move funds around.

(and I say this for most exchanges, since Dwolla/LR are widely supported)

Smalleyster
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July 09, 2011, 06:24:36 AM
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No. that's an absure idea. I specifically want the ability to trade 24/7.

Cash out to your wallet or dwolla account if you are nervous.

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HanRuien
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July 10, 2011, 07:09:23 AM
 #10

No. that's an absure idea. I specifically want the ability to trade 24/7.

Cash out to your wallet or dwolla account if you are nervous.

i personally think the idea of 24/7 needs to get removed from peoples heads.
this is a global thing, it will be Required to be 24 hours a day, its noon somewhere all the time.
a majority of people in the world dont recognize the rest days people get in the US.
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July 10, 2011, 09:43:17 AM
 #11

Trading can be closed for you on the weekend. Just don't trade.

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JoelKatz
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July 10, 2011, 09:48:03 AM
 #12

Considering the obvious that you can not transfer cash funds to your account on weekends (due to banks being closed) why not close the markets on weekends.

Just wondering what people think.
It's obvious what the disadvantage would be -- people who wanted to trade on the weekends could not do so. I'm still trying to figure out what the advantage would be. Care to help me out?

I am an employee of Ripple.
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muad_dib
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July 10, 2011, 10:16:29 AM
 #13


It's obvious what the disadvantage would be -- people who wanted to trade on the weekends could not do so. I'm still trying to figure out what the advantage would be. Care to help me out?


The market depth is much thinner on the weekends.

Official exchanges are closed on the weekend not because they are lazy, but to make speculator's job more difficult.
JoelKatz
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July 10, 2011, 10:35:15 AM
 #14


It's obvious what the disadvantage would be -- people who wanted to trade on the weekends could not do so. I'm still trying to figure out what the advantage would be. Care to help me out?


The market depth is much thinner on the weekends.

Official exchanges are closed on the weekend not because they are lazy, but to make speculator's job more difficult.
So what would the advantage be? Do we just hate speculators and like to make them suffer if possible?

I am an employee of Ripple.
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muad_dib
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July 10, 2011, 10:38:05 AM
 #15


The market depth is much thinner on the weekends.

Official exchanges are closed on the weekend not because they are lazy, but to make speculator's job more difficult.
So what would the advantage be? Do we just hate speculators and like to make them suffer if possible?
[/quote]

Speculators become rich by sucking money out of the system.


We all work hard ( I guess ) to make bitcoin more widespread, and thus increasing its value.

Instead the effect of a speculator is just the opposite.
JoelKatz
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July 10, 2011, 10:43:10 AM
 #16

Speculators become rich by sucking money out of the system.
Umm, no.

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Instead the effect of a speculator is just the opposite.
No.

Speculators become rich by stabilizing prices across varying supply and demand bursts. One of the biggest things Bitcoin needs to be seriously useful as a currency is a more stable value and better resistance to supply and demand bursts. Right now, the more speculators, the better for bitcoin.

I am an employee of Ripple.
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haydent
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July 10, 2011, 10:45:46 AM
 #17

no

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muad_dib
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July 10, 2011, 10:49:40 AM
 #18



Speculators become rich by stabilizing prices across varying supply and demand bursts. One of the biggest things Bitcoin needs to be seriously useful as a currency is a more stable value and better resistance to supply and demand bursts. Right now, the more speculators, the better for bitcoin.


I agree if you tell me that speculators help to reduce the spread in the market.


I disagree if you say we need more speculators, or if you say that speculators stabilize the market. Dont you remember the 33$ price spike?
JoelKatz
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July 10, 2011, 11:54:42 AM
 #19

I agree if you tell me that speculators help to reduce the spread in the market.
They do.

Quote
I disagree if you say we need more speculators, or if you say that speculators stabilize the market. Dont you remember the 33$ price spike?
I agree that speculators can destabilize a market when they speculate badly. However, these are not really speculators -- they are gamblers. Speculators, in the sense of rational speculators, stabilize the market.

I am an employee of Ripple.
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rnicoll
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July 10, 2011, 12:36:09 PM
 #20

I think if it wasn't for automated traders, not trading weekends would make a lot of sense. As it is, though, they're out there and should be capable of stopping the market going insane over the weekend. Also, if Mt. Gox announced they weren't going to trade at weekends, how long before weekend traders move to another exchange?

Dogecoin Core developer, ex-researcher, trader.

Unless stated otherwise, opinions are my own and do not necessarily reflect that of other Dogecoin developers.
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