Post
Topic
Board Trading Discussion
Re: decentralized Bitcoin are highly centralized to mtgox!11
by
Anth0n
on 01/05/2011, 05:33:52 UTC
bitcoinex - I'm not as pissed at you as most people in this thread are. There was a $4.15 trade on 'gox this morning, personally that seems pretty inflated to me.Exchanges are the obvious weak points in the bitcoin economy, a motivated entity could take down all the exchanges if they devoted enough effort.

What you perceive as a high exchange price does not justify an attack on someone else's property, in my opinion. Mt. Gox is the most popular exchange because it offers superior service to the other exchanges on the market. Otherwise, we would all be using a different exchange. The tarnishing of bitcoinex's reputation is the appropriate free-market response, acting as a voluntary police system of a fragile, yet growing economy. However, I will not pass judgment on those who continue to do business with bitcoinex. The beauty of not having an official police force punishing this moral infraction is that people can still voluntarily do business with bitcoinex as they please, but those who remain skeptical of bitcoinex's business practices will have no part in his/her business.

Also, I disagree that exchanges are the weak point in the Bitcoin economy. How would the layman be able to use Bitcoins without an easy way to exchange for them?