Quote from: ddod on June 04, 2011, 07:57:53 PM

Of course I can't prove causation (especially without the data from the dark pool trades). But this is the largest and most long lasting rally (with no real correction) that I have seen since I have been watching bitcoins.

I understand the risks of trading and largely am not all that concerned about dark pools. However, when those that set the rules change the rules (especially changes that stand to quickly and drastically change the market dynamics), it is reasonable to expect some level of communication to all those who have money in that market.

Now I am not making accusations; the experiment is still relatively new and mistakes will be made, but this kind of activity is often investigated and prosecuted in the world of regulated trading. I like to give the folks at MT. Gox the benefit of the doubt on this one, but I also want to encourage a higher level responsibility from those holding all the chips. We all trust that Mt. Gox won't just up and take off with everyone's money and bitcoins. But in reality, there is nothing stopping them. I don't even know where they are located or who they are (typically a big no, no when it come to someone who I trust to hold onto my assets).

So far they have done a good job at maintaining my trust (and like I said, this is still a fun experiment with a huge potential investment). But that can change if it starts to appear as though they are gaming the system. I don't yet think they are, but they need to be careful and understand their level of responsibility in this. Because with this recent, and unannounced from my perspective, change they stood to greatly benefit from inside knowledge (i.e, insider trading).

May the bitcoin experiment continue forward. However, if we want this to hit mainstream and to be taken seriously, we need to maintain some level self regulation. Anarchy may be the ultimate form of freedom. But in true anarchy typically lies chaos and degeneration.

this proves my pt about why dark pools should be disallowed. all it takes is one person with superior knowledge to destabilize the level playing field. MagTux is the only one who has the complete view of all orders and this is enabled by the dark pools. (this is not an allegation against him at all)