Some rules mtgox should consider adopting

poblico

member

Activity: 75

Merit: 10

Quote from: BubbleBoy on April 11, 2013, 05:40:07 AM

DDGox should put the million or so dollars it made yesterday into DDoS protection. Crap, they can rent 1000 different 10Gbit servers at different data centers around the world with a mere fraction of the money they make. Try to sink a 1000 IP, 10 Tbit site.

According to this press release it was not a DDoS attack https://mtgox.com/press_release_20130411.html

BubbleBoy

sr. member

Activity: 504

Merit: 250

DDGox should put the million or so dollars it made yesterday into DDoS protection. Crap, they can rent 1000 different 10Gbit servers at different data centers around the world with a mere fraction of the money they make. Try to sink a 1000 IP, 10 Tbit site.

poblico

member

Activity: 75

Merit: 10

As mtgox is the biggest exchange out there (and I hope this will be changing with resent events)
This sharp spikes are very bad for businesses trying to make it in the bitcoin market, for example bitpay accepted transactions before the drop in and has probably lost over 50% in conversion value in these 3 hours.

Perhaps mtgox should consider

1. stopping all trades if market value goes above or under a certain percent(5% 10%) this will stop crashes and prevent unwanted bubbles which are so harmful to the bitcoin economy, especially now in its vulnerable early stages.

2. have a limit for a person in trading frequency and volume this will prevent panic sell (or buy)

3. Its not uncommon for exchanges to stop trading when markets go wiled to any direction, and if mtgox had issues with there servers (as per last press release) they should have stopped trade for some hours.

Topic: Some rules mtgox should consider adopting (Read 708 times)