Quote from: FreeMoney on June 14, 2011, 06:57:54 AM

Were the other threads about this not good enough?

People place large orders visibly and are accused of rigging the market, people place them invisibly and are accused of rigging the market.

Nobody is accusing anyone of rigging the market and nobody is talking about large visible orders, please do not conflate the issues. This is about preferential treatment of large traders ... if you allow invisible orders, well fine but then allow it for everybody regardless whether they deposit $10,000 or $100 ... what's the logic or justification to give some people advantage depending on how much they pay? Will more paying traders get faster access than all the others next to facilitate HFT for them? This isn't right ... everybody should be equal, if you allow advantages being given for money then you end up with market where the big guys just more often than not screw over the little guy. And the "little guy" is our target group because it includes merchants which are vital to Bitcoin success, stability and growth - why give them any more reasons to avoid Bitcoin economy?

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The market is what people are willing to pay, that's it. Letting people control what information they reveal is perfectly reasonable. Anyone anywhere any time can make trades without you even knowing about them. There is no good reason for MtGox to give up customers who want that. And even if he stops it, it doesn't help you. They just do it elsewhere or set up an automated service to add to their bid as needed.

That they just do it elsewhere or in other way is very weak argument - do you go rock climbing without a rope because you could die in a car wreak or in some other way anyway? No, that it could be done elsewhere is no excuse to let it happen here at Mt.Gox where most people trade, if somebody else makes such a market ... well, I'll just make sure I avoid it Wink

But considering Mt.Gox has pretty much a monopoly right now it is sensible to contact them about it and let them know that its user base does not appreciate preferential treatment of large traders over small ones and that if they do want to keep good reputation they should remedy it.

It think that is very sensible approach ... and it seems so far that people do support it. Heck, almost half of people weren't even aware this was possible ... just as I wasn't until yesterday.