Post
Topic
Board Bitcoin Discussion
Re: Mt.Gox and the influence on the market
by
cypherdoc
on 04/06/2011, 14:35:00 UTC
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!

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.