Post
Topic
Board Beginners & Help
Re: BTC-E vs GOX?
by
Grover
on 18/04/2013, 20:27:22 UTC
I trade at both exchanges, even as much as I dislike Gox, and Gox is a 51% attack on BTC.  I think a crowd sourced co-op type exchange must be created for BTC to function fairly and freely.

BTCe is more fun than Gox due to the greatness of the trollbox.  I'm sorry for the people who lost their money due to a data mine type hack.

Gox has just as many issues as BTCe.  Gox lures people to put money into Gox then slams them with their BS KYC stuff.  If you don't send them (who ever they are) your info then all your coin/cash are gone, and I believe Gox considers it theirs after a few months, maybe 6.

Also, if you notice Gox's order entry is BS.  When you enter a sell the BTC is not removed from your available funds, that means there is nothing backing a sell order, just as there's nothing backing a buy order.  

So the quick among you will think, so what?  When it sells the coin or cash will be removed.

Ahh not so fast.  

What that means is anyone can enter whatever bids/asks they want for any coin or fiat amount to game the walls, and thus game the metrics used by bots and us lowly people who use charts.  I'm pretty sure if I wanted I could enter a sell order for 5000BTC on Gox at 99.99, or any dollar amount and it will show in the system as a valid sell order because there is nothing required in an account to back up the order.


Until my dream is realized for a crowd sourced not for profit exchange then from the looks of it the exchange of the future will be Kraken.
https://www.kraken.com/
https://bitcointalk.org/index.php?topic=159974.0.

They may still be looking for beta testers just look at the thread on the forum and find out or do a search for kraken.