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Author Topic: decentralized Bitcoin are highly centralized to mtgox!11  (Read 26978 times)
bitcoinex
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April 30, 2011, 02:45:57 PM
 #1

Do not you think that a decentralized currency Bitcoin a highly centralized to mtgox? So that users are more profitable to move all his bitсoins into mtgox.

Yes, dammit, I resent, because paying for the work with bitcoins!

Confess that you simply draw exchange rates!

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Nefario
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April 30, 2011, 03:12:33 PM
 #2

Yes it's a weakpoint of bitcoin, as are all the exchanges.

Until someone implements the anonymous exchange idea found here http://bitcoinweekly.com/articles/anonymous-money-needs-an-anonymous-exchange it will remain so.

Also the arrival of OTC exchanges.


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Prze_koles
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April 30, 2011, 03:16:20 PM
 #3

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

kiba
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April 30, 2011, 03:25:04 PM
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Digital hawala network. Somebody is working on it.

bitcoinex
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April 30, 2011, 03:38:03 PM
 #5

In Russia was such thing.

This company states daily declaratively prices for their shares. I think that mtgox stands as such company now. (Is not charge. just someone who has an opportunity cost manipulate widely in their interests for a long time. I do not know how.)  Bitcoin turned into a pyramid?

No, I'm certainly interested as bitcoiny used to pay for and now I will have to pay 3 times more.

Yes, I resent is the second time since the previous race. Such jumps put a cross on the distribution of bitcoin as a means of payment. I will not use them as such in the near future. Sad

New bitcoin lottery: probiwon.com
- Может, ты ещё и в Невидимую Руку Рынка веруешь? - Зачем же веровать в то, что можно наблюдать непосредственно?
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April 30, 2011, 06:43:46 PM
 #6

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

Moreover, if all such exchanges implement free transfers between accounts on the exchange than it would be possible to transfer/convert fiat money to any country in the world.

1. Transfer fiat money to your local exchange.
2. Convert to BTC.
3. Transfer to an exchange local to payee.
4. Convert BTC into payee's currency.
5 Transfer money in payee's currency to payee account.
6. Payee withdraws fiat currency to his local bank account.
7. Banks and other middle men do not profit. (some fees to exchanges would apply, though)

Transacting in BTC still seems to be so much easier.






That wouldn't be as easy as you said. You would need to create an account on two different exchanges (one in each country), and you would be exposed to bitcoin value fluctuations between steps 2-4.

BTW, it won't be long before exchanges will start requiring ID.
jkminkov
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April 30, 2011, 10:33:32 PM
 #7

seems that you are helping mtgox with introducing stupid fees to btcex...

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bitcoinex
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April 30, 2011, 10:41:45 PM
 #8

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

I tried to convey that message to the community.

But people are much more interesting to play a game of chance, using bitcoins not as money but as chips at the casino, which are purchased by the LR

New bitcoin lottery: probiwon.com
- Может, ты ещё и в Невидимую Руку Рынка веруешь? - Зачем же веровать в то, что можно наблюдать непосредственно?
bitcoinex
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April 30, 2011, 11:09:13 PM
 #9

Patience!

Ne-a.

Without external influence young economy would collapse, since it dominates the positive feedback.

New bitcoin lottery: probiwon.com
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MagicalTux
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May 01, 2011, 01:05:23 AM
 #10

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

I tried to convey that message to the community.

But people are much more interesting to play a game of chance, using bitcoins not as money but as chips at the casino, which are purchased by the LR

I like how this DDoS comes right in time to prove your point~

bitcoinex
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May 01, 2011, 01:31:49 AM
 #11

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

I tried to convey that message to the community.

But people are much more interesting to play a game of chance, using bitcoins not as money but as chips at the casino, which are purchased by the LR

I like how this DDoS comes right in time to prove your point~

Yes, I really do not like mtgox. (But you're a new owner - you have a chance to change it)

mtgox really builds a pyramid!

I put a lot of effort is to make a good exchanger and another starts to actually paint rate and turn it all into the game.

The day before yesterday I was owed 100 BTC = $160 but today it $320 and it is too much for me. And it continues to grow simply because everyone is looking for people who cabal draw their own exchange rate on mtgox.

Perhaps that centralization is a basic property of commerce and then bitcoin are doomed. Instead of the central bank to manage the rates will mtgox.

mtgox took on greater responsibility and must stop trades when the exchange rate changes dramatically. Just because some people sometimes sleep, for example.

mtgox must do so at least 4 times for past half year. I and my friends who enjoyed bitcoin very badly affected.

I welcome this attack or slashdot! It is 'assassination politics' where the victim is the monopolistic exchange site, not human.

(we're a little familiar - there is no personal animosity)

huh, now I relax and feel good.

New bitcoin lottery: probiwon.com
- Может, ты ещё и в Невидимую Руку Рынка веруешь? - Зачем же веровать в то, что можно наблюдать непосредственно?
MagicalTux
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May 01, 2011, 01:35:46 AM
 #12

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

I tried to convey that message to the community.

But people are much more interesting to play a game of chance, using bitcoins not as money but as chips at the casino, which are purchased by the LR

I like how this DDoS comes right in time to prove your point~

Yes, I really do not like mtgox. (But you're a new owner - you have a chance to change it)

mtgox really builds a pyramid!

I put a lot of effort is to make a good exchanger and another starts to actually paint rate and turn it all into the game.

The day before yesterday I was owed 100 BTC = $160 but today it $320 and it is too much for me. And it continues to grow simply because everyone is looking for people who cabal draw their own exchange rate on mtgox.

Perhaps that centralization is a basic property of commerce and then bitcoin are doomed. Instead of the central bank to manage the rates will mtgox.

mtgox took on greater responsibility and must stop trades when the exchange rate changes dramatically. Just because some people sometimes sleep, for example.

mtgox must do so at least 4 times for past half year. I and my friends who enjoyed bitcoin very badly affected.

I welcome this attack or slashdot! It is 'assassination politics' where the victim is the monopolistic exchange site, not human.

(we're a little familiar - there is no personal animosity)

huh, now I relax and feel good.

Well, as long as someone somewhere wants to buy bitcoins, the price will increase, would it be on mtgox or anywhere else. People who mine bitcoin want to sell at the best price, and if there is enough demand, would it be on mtgox or anywhere else, the price will increase anyway.

On the contrary, unavailability of mtgox may make bitcoins harder to obtain, and cause an extra increase of the bitcoin value...

bitcoinex
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May 01, 2011, 01:46:31 AM
 #13

We need more local exchanges in every country, because bank transfer is almost free if you send in the same currency.

I tried to convey that message to the community.

But people are much more interesting to play a game of chance, using bitcoins not as money but as chips at the casino, which are purchased by the LR

I like how this DDoS comes right in time to prove your point~

Yes, I really do not like mtgox. (But you're a new owner - you have a chance to change it)

mtgox really builds a pyramid!

I put a lot of effort is to make a good exchanger and another starts to actually paint rate and turn it all into the game.

The day before yesterday I was owed 100 BTC = $160 but today it $320 and it is too much for me. And it continues to grow simply because everyone is looking for people who cabal draw their own exchange rate on mtgox.

Perhaps that centralization is a basic property of commerce and then bitcoin are doomed. Instead of the central bank to manage the rates will mtgox.

mtgox took on greater responsibility and must stop trades when the exchange rate changes dramatically. Just because some people sometimes sleep, for example.

mtgox must do so at least 4 times for past half year. I and my friends who enjoyed bitcoin very badly affected.

I welcome this attack or slashdot! It is 'assassination politics' where the victim is the monopolistic exchange site, not human.

(we're a little familiar - there is no personal animosity)

huh, now I relax and feel good.

Well, as long as someone somewhere wants to buy bitcoins, the price will increase, would it be on mtgox or anywhere else. People who mine bitcoin want to sell at the best price, and if there is enough demand, would it be on mtgox or anywhere else, the price will increase anyway.

On the contrary, unavailability of mtgox may make bitcoins harder to obtain, and cause an extra increase of the bitcoin value...

You're an idealist.

Real exchanges (from wallstreets) halt trading when the rate jumps dramatically. This is because exchange is a most good way of purchase of goods which are sold. (As I know, this technique has worked for centuries.)

New bitcoin lottery: probiwon.com
- Может, ты ещё и в Невидимую Руку Рынка веруешь? - Зачем же веровать в то, что можно наблюдать непосредственно?
bitcoinex
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May 01, 2011, 01:57:08 AM
 #14

By the way, I am announcing collecting donations for the ddos of mtgox for decreasing exchange rates!

1AvGzvwCxELCaJsxdzunhYTzTL6GVa2xvR

haxorz! please send letter to support@btcex.com and give your money for that work!

New bitcoin lottery: probiwon.com
- Может, ты ещё и в Невидимую Руку Рынка веруешь? - Зачем же веровать в то, что можно наблюдать непосредственно?
Stefan Thomas
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May 01, 2011, 02:14:15 AM
 #15

By the way, I am announcing collecting donations for the ddos of mtgox for decreasing exchange rates!

1AwGzvwCxELCaJsxdzunhYTzTL6GVa2xvR

haxorz! please send letter to support@btcex.com and give your money for that work!

If this is a joke, it's a bad one. Angry

It sounds credible enough to be serious (with bitcoin address and email) for me to remove btcex from WeUseCoins until this is cleared up.

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cypherdoc
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May 01, 2011, 02:22:01 AM
 #16

i don't really mind the fees mtgox charges; what i do mind is the lack of service.  i've emailed Mag Tux a half a dozen times this week to do something for me but he has yet to perform.  i think its either too much work for him alone or he doesn't care.  i don't know which.
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May 01, 2011, 02:23:55 AM
 #17

By the way, I am announcing collecting donations for the ddos of mtgox for decreasing exchange rates!

1AwGzvwCxELCaJsxdzunhYTzTL6GVa2xvR

haxorz! please send letter to support@btcex.com and give your money for that work!

If this is a joke, it's a bad one. Angry

It sounds credible enough to be serious (with bitcoin address and email) for me to remove btcex from WeUseCoins until this is cleared up.

so bitcoinex owns btcex.com?  not to professional to advocate DDoS against a competitor...
bitcoinex
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May 01, 2011, 02:41:02 AM
 #18

By the way, I am announcing collecting donations for the ddos of mtgox for decreasing exchange rates!

1AwGzvwCxELCaJsxdzunhYTzTL6GVa2xvR

haxorz! please send letter to support@btcex.com and give your money for that work!

If this is a joke, it's a bad one. Angry

It sounds credible enough to be serious (with bitcoin address and email) for me to remove btcex from WeUseCoins until this is cleared up.

I'm sorry but I'm afraid so is serious. It would cost less than to be owed +$100 every day.

Maybe I even feel sorry about it. But we want anarchy and autoregulation? This is it is.

Just in case, say goodbye in advance. With you it was good, bitcoiners is a great community!

New bitcoin lottery: probiwon.com
- Может, ты ещё и в Невидимую Руку Рынка веруешь? - Зачем же веровать в то, что можно наблюдать непосредственно?
Luke-Jr
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May 01, 2011, 02:53:40 AM
 #19

But we want anarchy and autoregulation? This is it is.
Don't assume everyone has the same goals for Bitcoin that you do. I am a monarchist, and accept that regulation is good and necessary.

Also, your DDoS may be anarchy, but you will soon see the effects of autoregulation: it seems everyone is going to boycott BTCex over this.

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May 01, 2011, 02:56:26 AM
 #20

Also, your DDoS may be anarchy, but you will soon see the effects of autoregulation: it seems everyone is going to boycott BTCex over this.

God, I love free markets
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