Some other neutral (should all press be neutral?), positive, & negative mainstream articles on bitcoin:
http://news.search.yahoo.com/search;_ylt=A2KJ3CfWh.pNCUIAbYjQtDMD?fr2=sort&p=bitcoin&ei=UTF-8&fr=news-us-ss&sort=time
Topic: Mt.Gox and the influence on the market - page 2. (Read 3589 times)
Soon as BTC hit Reddit, all this shit happened. It may have hit Reddit TO GAME it. The increase in popularity, since it hit Reddit, is crazy. I am attributing this entirely to that as well. Fucking 8 to 18. God damnit I should have invested.
i think for the bitcoin community as a whole, not having darkpools would make the system alot fairer to the average joe user.
This presupposes the 'average joe user' is short-term speculating, and that speculating is a zero-sum game to which everyone is entitled to all the facts.
Individuals should be making buying and selling decisions based on their own circumstances and where they think the value of bitcoin is going. If someone is playing the very dangerous game of day-to-day speculation, then they should be sophisticated enough to live with the fact of dark pools. Note that dark pool users also have no idea what other dark pool users are doing.
The idea that everybody is entitled to know what everybody else is doing is somewhat akin to those forum members who seemingly want to punish early adopters because they had the 'unfair advantage' of finding out about bitcoin before everybody else. Your own happiness shouldn't depend on other people being unhappy. Your own buying/selling decision shouldn't depend on everyone else's buying/selling decision.
Can you prove a causal relationship between the two events?
The exchange rate shot up a few times in the last 30 days - even without mtgox changing their policies.
The exchange rate shot up a few times in the last 30 days - even without mtgox changing their policies.
can someone explain the darkpool size? I have no idea what that means and I'm curious
darkpool means that orders over a certain size, previously 1k $, now 10k $, are secret from the public mtgox orderstream and do not affect the pricing.
to put it mildly: it allows large traders to game the market and effectively influence pricemovements to their advantage.
given that mtgox is the only, for bitcoin economy at least, large trading entity, the darkpool size effectively governs the size of orders that are not affecting the valueation of bitcoin.
this in effect allows professional traders to buy btc cheap in darkpool at market price with huge volume, then drive the price with a smaller, but for normal trade large order, then selling off to the normal market at now increased pricing, effectively gaming the system.
i think for the bitcoin community as a whole, not having darkpools would make the system alot fairer to the average joe user.
Many argue that Bitcoin is not being influenced or possible to game. Right now we are seeing quite the opposite: Tux increased the Darkpool size from 1k$ to 10k$ orders and with little delay, the BTC valueation skyrockets since the orders under 10k$ now affect the market and exchange rate. I believe that in a way or not, the exchanges to real economies are indeed able to game the market until there is enough competition in that area and vendors accept BTC straight, reducing the need to convert.
What do you think would happen to BTC if the "Darkpools" were fully removed?
Discuss!
What do you think would happen to BTC if the "Darkpools" were fully removed?
Discuss!
as a user of the darkpool myself i have always argued that it is unfair to the "normal" order folks. as a buyer of btc over the last few months, i could sit hiding in the bushes so to speak with my large orders waiting for selloffs to occur. non pro sellers look at the accumulated order mountains over on bitcoincharts.com to determine liquidity on the bid side and don't see the real depth. these are totally false representations of the bid side in this bull market. they then get nervous and sell in large chunks and are then surprised by how little the price drops and how fast it recovers and then shoots to the upside past their original sell price. i admit to having taken advantage of this and i don't think its right.
can someone explain the darkpool size? I have no idea what that means and I'm curious
Tux increased the Darkpool size from 1k$ to 10k$ orders
So this is what is going on. It would have been nice if there was a broad announcement about this. Mt. Gox should have announced this more clearly on their site because was a significant change. If I had known that this rally was being influenced by a new factor, my trade behavior would have been very different over the past 48 hours.
Many argue that Bitcoin is not being influenced or possible to game.
This sounds like a strawman to me, I don't recall hearing it and I doubt "many" people suggest it. MtGox is an unregulated exchange and bitcoin trades relatively low volumes (far less than a million coins) a day. It would be easy for someone to game it, they'd just have to have a sufficient number of dollars or bitcoins. (as the price and volumes go up the definition of sufficient goes up too).
Many argue that Bitcoin is not being influenced or possible to game. Right now we are seeing quite the opposite: Tux increased the Darkpool size from 1k$ to 10k$ orders and with little delay, the BTC valueation skyrockets since the orders under 10k$ now affect the market and exchange rate. I believe that in a way or not, the exchanges to real economies are indeed able to game the market until there is enough competition in that area and vendors accept BTC straight, reducing the need to convert.
What do you think would happen to BTC if the "Darkpools" were fully removed?
Discuss!
What do you think would happen to BTC if the "Darkpools" were fully removed?
Discuss!
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