Topic: MTGOX is manipulating BTC Value. - page 2. (Read 7561 times)
I said it is dangerous to speculate about market manipulation when a) you demonstrate a lack of understanding how an exchange works b) not providing evidence of these manipulation, only a "feeling".
Try quoting me next time. Thanks
Try quoting me next time. Thanks
QFT
I'm only reading this thread because its entertaining
The OP has a lack of knowledge of how inflation and economics works (not saying 'no knowledge', just a lack of).
I cross referenced your marking, and downgraded it to a G-
MtGox are currently the biggest exchange, but could be replaced anytime when they make a serious mistake. They only exist by having the trust of the traders.
They don't do filler trades, just check the Euro market depth, sometimes there is a bid-ask gap for hours.
They don't do filler trades, just check the Euro market depth, sometimes there is a bid-ask gap for hours.
^^^^^^^
MtGox are currently the biggest exchange, but could be replaced anytime when they make a serious mistake. They only exist by having the trust of the traders.
They don't do filler trades, just check the Euro market depth, sometimes there is a bid-ask gap for hours.
They don't do filler trades, just check the Euro market depth, sometimes there is a bid-ask gap for hours.
yea, i don't think gox would be dumb enough to get into the lending business.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
mtgox is bitcoin's FED.
There is a small difference in that the FED can print as much money as they want, MtGox does not print any money, the FED sets interest rates for lending, MtGox has nothing to do with lending ... oh, wait, they really have nothing in common after all.
mtgox is bitcoin's FED.
MTGOX is Bitcoin's central bank. when someone dumps of coins through MTGOX. MTGOX sells them at an inflated price because they know they have a monopoly on the entire exchange system.
URSAY - I quoted this for you so you can see why I may question the OP's technical knowledge of how exchanges work.
With statements like "MTGOX sells them at an inflated price because they know they have a monopoly on the entire exchange system.", it makes someone wonder. See I would assume with this statement, that they are trying to say that their is not a genuine seller behind this theoretical seller.
I would think that before this sale happens, the price had been pushed up through consistent buying to bring the price to the level where this transaction would take place.
I think it's even MORE dangerous to NOT speculate about manipulation and ALL market factors.
It's silly you suggest our lack of understanding about how exchanges work when clearly you have no idea about our level of knowledge.
I've been around here a while. MTGOX has had their share of issues. There seems to be a lot of MTGOX yes men.
To our lord, MTGOX...
AMEN.
It's silly you suggest our lack of understanding about how exchanges work when clearly you have no idea about our level of knowledge.
I've been around here a while. MTGOX has had their share of issues. There seems to be a lot of MTGOX yes men.
To our lord, MTGOX...
AMEN.
No one is forcing you to use MtGox to trade or their prices as a standard.
MTGOX is Bitcoin's central bank. when someone dumps of coins through MTGOX. MTGOX sells them at an inflated price because they know they have a monopoly on the entire exchange system. They are making money both on exchange fees and by controlling what the masses think Bitcoin is actually worth. Mark my words.
MTGOX is not a bank. It is a market place where buyers meet with sellers. Of course they can trade on their own market as everybody else.
There is one truth with all ideological ideas - while they work in theory, they can never work in practice.
Socialists might like a totally centralised system, top down control and wonder why its too inefficient and never works as planned.
Libertarians might want totally decentralised systems with control being bottom up, and wonder why monopolies and cartels are created despite their best efforts
MTGox is the main player in bitcoin because it is. You could change that, but its going to take a lot of effort and possibly money. They might well effect the price of bitcoin, but I wouldn't be surprised if bitcointalk has more of an effect!
Rather than argue about the downside of the situation as you see it, it would be far more efficient to build your own alternative. However, you will probably find that what your customers want is a one stop shop - and that is MTGox for now!
Socialists might like a totally centralised system, top down control and wonder why its too inefficient and never works as planned.
Libertarians might want totally decentralised systems with control being bottom up, and wonder why monopolies and cartels are created despite their best efforts
MTGox is the main player in bitcoin because it is. You could change that, but its going to take a lot of effort and possibly money. They might well effect the price of bitcoin, but I wouldn't be surprised if bitcointalk has more of an effect!
Rather than argue about the downside of the situation as you see it, it would be far more efficient to build your own alternative. However, you will probably find that what your customers want is a one stop shop - and that is MTGox for now!
Dalkore,
First post you suggest it's "dangerous" to question the inner workings of the great MTGOX.
Post below that you suggest we question the inner workings and "let you know".
Ehhhhh... what???
First post you suggest it's "dangerous" to question the inner workings of the great MTGOX.
Post below that you suggest we question the inner workings and "let you know".
Ehhhhh... what???
I did not say "it's dangerous to question Mt. Gox's the inner workings", I can read what I wrote. I said it is dangerous to speculate about market manipulation when a) you demonstrate a lack of understanding how an exchange works b) not providing evidence of these manipulation, only a "feeling".
Try quoting me next time. Thanks
D
Dalkore,
First post you suggest it's "dangerous" to question the inner workings of the great MTGOX.
Post below that you suggest we question the inner workings and "let you know".
Ehhhhh... what???
First post you suggest it's "dangerous" to question the inner workings of the great MTGOX.
Post below that you suggest we question the inner workings and "let you know".
Ehhhhh... what???
MTGOX is Bitcoin's central bank. when someone dumps of coins through MTGOX. MTGOX sells them at an inflated price because they know they have a monopoly on the entire exchange system. They are making money both on exchange fees and by controlling what the masses think Bitcoin is actually worth. Mark my words.
The problem with your paranoid supposition is the fact that MtGox is not actually buying or selling anything. They just act as a platform for other people to trade bitcoins, and take a slice of each trade as a fee.
Eeh, don't they put those 'filler' trades in there to mask the spread?
And how is that not a form of participating?
Mt Gox may perform "market making" function as well, that is a question you should ask them and let us know. Good question.
D
MTGOX is Bitcoin's central bank. when someone dumps of coins through MTGOX. MTGOX sells them at an inflated price because they know they have a monopoly on the entire exchange system. They are making money both on exchange fees and by controlling what the masses think Bitcoin is actually worth. Mark my words.
I think you may need to research how a Bid/Ask exchange works. Yes, they may be the market maker but as in the past, if someone sold a bunch of coins, you would see the price drop unless there was more demand on the buy side compared to the sell side. The reason we have seen prices elevate is because of more demand that supply.
It is really dangerous to make claims like this, you really do yourself and us all a dis-service.
D
Gox becomes less and less transparent as time goes on regardless they are considered the central authority of Bitcoin and probably always will be. But this is likely by design. After all, there is money to be made. If they are indeed manipulating the market then I would hope that they do not destroy it.
Greed is a powerful drug.
GOXXXED?
Greed is a powerful drug.
GOXXXED?
I think BTC prices are usually higher on GOX because the site is more popular and more trusted. It's not a central bank conspiracy. Newbie buyers flock there and drive prices higher.
There's no centralization with bitcoin, but there can be the illusion of some centralization which can affect the price positively or negatively. If bitcoin is to succeed long term, the price will have to go much higher. When it does go much higher, the community will be much more flush with capital and therefore more apt to develop more and more better services.
IOW, having a trusted/successful site like GOX is good because it drives sales and helps raise the price of btc. The presence of better less centralized entities in the cryptocurrency eco-system is dependent upon the continued success of those entities currently operating in good standing, like GOX. So smearing fud on GOX is in way like smearing fud on bitcoin.
There's no centralization with bitcoin, but there can be the illusion of some centralization which can affect the price positively or negatively. If bitcoin is to succeed long term, the price will have to go much higher. When it does go much higher, the community will be much more flush with capital and therefore more apt to develop more and more better services.
IOW, having a trusted/successful site like GOX is good because it drives sales and helps raise the price of btc. The presence of better less centralized entities in the cryptocurrency eco-system is dependent upon the continued success of those entities currently operating in good standing, like GOX. So smearing fud on GOX is in way like smearing fud on bitcoin.
i'm going to open my own exchange and coins will be going for $60 each.
Jump to: